This trade did not go as planned but luckily I moved my stop loss to breakeven.
I do not understand what you mean by “Retail Trade”
The definition you give of a retail trade on your website is “So often the retail trader instead of entering from value areas and swing points using the rule above enters at the very top of an up-trend to go long, and the very bottom of the down trend to go short”
From your definition, if this was a retail trade, I would be going Long instead of Short.
Trade one timeframe. Multi-frame analysis can confuse and cloud your judgement. If you make a trade on the 4h stick by your 4h trading strategy do not let the Daily or 1H change your thought process because the s/r levels on these tf’s are independent from the 4h
I’m strapped in on this one, havent locked any profits in yet. Interesting method though I will give your strategy more thought especially with this being a range/countertrend trade, there is no need to be greedy here. Wish you more pips my friend!
What I mean by the saying retail trade is this: Only a retail trader would try to enter that setup. A professional would never enter that setup realizing that the chances of success were very low.
Retail traders are hooked on trying to pick tops and bottoms and also trying to trade against obvious trends.
That’s exactly what this setup doing and hence why it was a retail trade. No Value and not high probability.
You say only retail trader that would enter those setup base on what?
I’ve seen alot professional trader on dailyfx.com trade differently on the same currency because people are not the same and they see things differently, just because you consider yourself professional trader doesnt mean that all profrssional trader will trade the same all the time.
Then again, when I new nothing I too used to read dailyfx and thought they were going to make me rich. Opposite happened and my trading account went south pretty fast.
So thank you JOHNOTHAN for showing me how to NOT think like DAILYFX and make my trading account go very nicely NORTH!
One thing retail traders have in common is most of them lose. A Reason for this is no matter what method they use they are forever trying to trade against the trend and what’s even worse they are forever trying to pick the top and.bottom of a trend.
So when I say that was a retail trade it was because retail traders as a whole are sucked in time and time again.
I’m affraid my broker’s timing is different from the one Johnathon is using, still I belive the price action is applicable.
I saw a mother candle( the red candle with a tick under it), following it there are 3 candles within that body of the candle’s area and then there comes a break above the red candle’s high which signals a long trade( I assume).
Hi, I would have not traded that signal as it was small and there was quite a bit of traffic to the left, I’m surprised how well it boosted up to be honest!
You did well this time but I would be careful trading a lot of mediocre signals in the future.
hi Kasravi…you spotted well about the inside bar set up…but as a new trader we have a intention to trade every setup we spot…this is what the wrong step taken by all…
as Mr.Johnathon said…he did not advice to trade this inside bar set up…because we need lot more setups to learn before to this…
this is my explanation on why i dint trade this set up…
i never trade inside bar set up as a new trader…and is advised by the Mr.Johnathon…
the breaking candle is too small in my opinion…if it is large then it may be ok…but not for new traders…( for me)
remember the rejection candle must be large…this is 1 imp rule in PA.
i hope this helps you…and waiting for others to reply…thank u.
