True. Its infinite lol
Did anyone find problem with the Risk/Reward when using the 50% TP method? For example, I am risking 2% on each trade, and if my RR aiming at 1:2 which means I am aiming at making 4% profit, but with 50 % TP at important zone, I find it hard to reach that 4% (Price will have to go further than before to achieve it since my trade is now only 1/2 active). anyone can give me some advice on it??
Hi Everyone,
Would like to ask more experienced members about GBPUSD 4H setup, BEEB formed two candles prior, would this still be a valid setup if breaks after several candles?
Ok, the aim of this method is high probability setup with high chance of winning percentage. So you have to practice the method and be good at it and build up the live account to an amount where 1% or 2% of the winning is a staggering income for you. Of course that needs few years of hard work. I havent did that yet but i am working towards it and i understand the logic behind it.
Also,RR1:0.1/0.2 is not a good reward, so you have to set a trading plan with RRR thats acceptable for you.
Hope you get it 
Jack.C
See how does this Pin close at NY close.
Yes, I mostly aim at 1:1. I find it psychologically hard to accept anything less. Usually I try to get something better, like 1:1,5 or 1:2 - but it almost never happens. I also find moving to BE hard - I mean price often need go back before going forth, so by moving to BE we not only make less loses but also less wins⌠Thereâs a lot to learn, meheheâŚ
How do you feel about PB on GBP/CHF Daily? It doesnât stick out a lot, but we could use support to hide a SL behind it, so RRR would be better:59:
This pair has been extremely choppy⌠look at the sizes of the wicks, me thinks better to look for âcleanerâ set upsâŚ
10 or 15 pages earlier Krugman wrote: if a trader is looking not just for A setups, but for A+++, then he will have like 3-4 trades a yearâŚ
Probably we should seek a compromise between ideal trade and a âreal-world tradeâ heh:)
Hello Dave,
your lucky this never broke so you never would have been entered into the trade.
We need out engulfing bars to be engulfing and sticking out. You will notice this was still inside the previous housing candle (the previous bullish candle). Engulfing bars should be large and commanding showing that they have taken complete control of the market and are about to send it one way or another. This was stuck inside a much bigger candle and was just a small consolidation candle that was getting ready for whichever way the next push came.
Are you marking your levels on the daily chart? and then using these same levels on the 4hr chart? I get the feeling you are marking levels on the 4hr chart�
Safe trading,
Johnathon
I have not been in here for a few days, but I do come back and read every post and there like always is a lot of counter trend trading going on when we know the biggest edge we have is to trade with the obvious trend⌠The 4hr chart is clearly making higher highs and higher lowsâŚ
Price here on the daily chart has broken a key level and then moved above and this pin is now above this level.
The highest probability play would be to take longs on the gold 4hr chart with the trend with any pullbacks into the daily key level. This would then be trading with the trend and at a daily key level. Trading this pin is against the trend and from a minor level.
Does this have a chance of working out? Of course it does because it is a bearish pin bar, but just not too sure it is a very high probability.
DAILY GOLD CHART
4HR GOLD CHART
I very rarely enter into 1hr trades, but last night I made one and I thought I would post it because it will highlight a high probability intraday trade.
As we often say one of the biggest edges we can have on intraday charts is the trend and more often than not this is not used.
The pair was the USDCAD and price had moved down solidly on the daily chart and broken a key daily level. Price on the daily chart had started moving higher on the daily chart at the time and back into this key level that was already marked so it was just a matter of like we always talk about in here of simply just looking at an already marked level for price action.
The 1hr chart fired off a very solid BEEB that was large and obvious at the logical level and within the trend on the 1hr chart.
USDCAD DAILY CHART
USDCAD 1HR CHART
Safe trading all,
Johnathon
[QUOTE=âForex School Online;508453â]
Hello Dave,
your lucky this never broke so you never would have been entered into the trade.
We need out engulfing bars to be engulfing and sticking out. You will notice this was still inside the previous housing candle (the previous bullish candle). Engulfing bars should be large and commanding showing that they have taken complete control of the market and are about to send it one way or another. This was stuck inside a much bigger candle and was just a small consolidation candle that was getting ready for whichever way the next push came.
Are you marking your levels on the daily chart? and then using these same levels on the 4hr chart? I get the feeling you are marking levels on the 4hr chart�
Safe trading,
Johnathon[/QUOTE]
Thanks for your explanation. Yes I was too lucky this time. Your feeling is absolutely right, I mark the level on timeframe and trade the exact same timeframe. If I mark daily I trade daily, I mark 4H and I trade 4h.
I know I need practice more and much more
I SHOULD ALWAYS TRADE WITH THE TREND, ALWAYS TRADE WITH THE TREND!! (GOT IT)
Itâs not a high probability trade and as you always say these are the types of setups that keep traders from being consistently profitable. Iâll work at trading that way.
[QUOTE=âForex School Online;508462â]I very rarely enter into 1hr trades, but last night I made one and I thought I would post it because it will highlight a high probability intraday trade.
As we often say one of the biggest edges we can have on intraday charts is the trend and more often than not this is not used.
The pair was the USDCAD and price had moved down solidly on the daily chart and broken a key daily level. Price on the daily chart had started moving higher on the daily chart at the time and back into this key level that was already marked so it was just a matter of like we always talk about in here of simply just looking at an already marked level for price action.
The 1hr chart fired off a very solid BEEB that was large and obvious at the logical level and within the trend on the 1hr chart.
USDCAD DAILY CHART
<img src=â301 Moved Permanentlyâ/>
USDCAD 1HR CHART
<img src=â301 Moved Permanentlyâ/>
Safe trading all,
Johnathon[/QUOTE]
I now do see the point of your questions. Thanks again
Your in the trade now so you may as well play it as best you can and it may very well work out! It is a bearish pin bar after all, just remember next time that the overall contect and the price action story is far more important than the last one candle.
Well if you donât know then you donât know do you?! Youâve just got some reading and study to do is all! :57:
