But looking at even the 5M if that is all you have. See we are at the bottom of a dip. She may not continue down from here, so you may not want to sell out your loss leader for 21 pips or whatever your predetermined pip TP is.
We could continue down a little, which would be ok we would get another long cheaper 
[B]âThe definition of insanity is doing the same thing over and over and expecting different results.â[/B]
Albert Einstein
I am glad I am NOT insane!
[B]âLife is a succession of lessons whuch must be lived to be understood.â[/B]
Helen Keller
Price continues to consolidate below 212.80 ahead of the announcement of the FOMC decision coming up this afternoon. Weâll likely see a break in short order from the symmetrical triangle (ascending, if not for the higher high above 213) underwayâŚ
I thought we would get some action after Frankfurt and LOndon open.
She couldnât get past 212.60 on that last run up.
Pointless to sit here as I should get a few more winks before I begin the day.
Looking like a good run, trying to break above 212.70.
No calls today so far, time for some coffee.
Still waiting for the break higher and another leg up into 214âs
[B]âReal knowledge is to know the extent of oneâs ignorance.â[/B]
Confucius
You may want to sell it now. It looks like price got down to 212.21
so your next order down never would have hit I donât guess.
If we break 213.30, there may be nothing to stop us until 214.50/60 which will be a huge level to get through before we can continue into 215âs and 216.
[B]âGive a man a fish and he will eat for the day. Teach a man to fish and he will eat for a lifetime.â[/B]
Chinese Proverb
I am trying to teach everyone to fish!
213.30 is clearly rejected. It is going to get harder each time we try to get through there. But get through there we must.
All my lots closed with profit, I am just left with my loss leader at 213.29 . The boat just keeps getting full of pips and to use a quote Todd once used âthere are so many pips and profit , it is almost obscene !!!â
I have a question that Iâm sure one of you can answer for me. In the last two candles on the 15 min chart there were some really big swings in range but it still came back to the original price. What would cause this? A news release I didnât know bout or some big bank putting in some big orders or something else entirely?
I am very glad you were able to extract some precious consistant profitable trading methods from my madness of posts.
I hope you will refine this knowledge and test it and share it and use it to supply all the money you need so you can help yourself without worry and to put yourself in a position so you will be able to help another in need.
You have graduated grader.
If you sold your loss leader NOW for a loss would you still have a profit? LOL
I still dont know what the FOMC news was I didnt look but it is likely as I expected no rate change no effect really.
Buys and sellers put their orders in at their bid and ask pricess, surrounding a news event like this there is ALWAYS going to be BIG volumne of traders and trading.
A find a very large doji spike up or down indicates reversal UNLESS
you get the same doji in the same direction on subsequent candles,
especially several or dozens in a row.
these types of dojis indicate no reversal and huge pressure in the direction of the Doji.
The thing with big banks and big orders is that you cannot always get all your orders filled at the same price if you have a boatload. As you sell price tends to go down and as you buy price tends to go up (if you are a big boy
{BIG MONEY}).
But perhaps it would be smarter to get a loss leader lower or as low as you can get.
AND 213.29 is a pretty high loss leader I would say. HEck how did you get one that high? It must have been hard to pick the top and buy one there.
I have done it. And sat with a loss leader for MONTHS becuase after counting my THOUSANDS of pips I somehow didnt want to give back 200 pips
or anything as until my loss leader closed for a profit even if one pip it would stay open. But if I make 2900 pips and sqr up on a loss leader for 200 pips that is still 2700 pips, certaiinly nothing to sneeze at.
Each take according to his NEED NOT GREED.
Big boys need money too it wouldnt be fair to take all theirs. But normally they dont lose as they try best they can with huge amounts of money to manipulate price and eat stop loss orders of newbie traders.
Yes if I sold NOW the loss would be nothing in comparison to the profits!!!. what you have taught me is invaluable and I am not sure how to thank you !!!. I don;t think I could explain the system in full because a lot of it is âthinking outside the boxâ. Ie if you stick to rules and MANAGE your margin and ONLY buy then it makes money !!!(but logic and what some of us have learnt thru trial and error in trading , tells us that it just shouldnât work).I guess sometimes one just has to have faith and believe and you never know you may just make something of it. When I was on demo I know I tried a few sells and different ideas and nearly everytime I lost money, so I have been very strict with myself ( which is extremely difficult at times ) on this live account and the rewards are amazing. I think the only thing I do different is I always use a spreadsheet to calculate how low I can go. It has been said numerous times in this thread that those that follow the rules exactly ARE making money and they are amazed. I now understand so much more of what you have said previously as I often go back and read the thread and each time somewhere a penny drops and I understand the system more. Once again thanks grader
I thought I should explain why my Loss Leader is so high maybe for the benefit of others. To be honest I have never really grasped where my loss leader should be so I just get in as high as I can and hang on to it (Maybe I am starting to think like you Rrram in that I donât want to give any pips away!!! And it is getting interest paid !!!)
My loss leader is very small (I have just calculated that if I hung on to only my loss leader I could go all the way down to 0.00 and beyond) and I also like having it there , maybe for peace of mind as there is always an order open and the first thing I look at when I open my account is to see how my LL is doing.
I hope this explains my thinking
I used to think that way. That I always wanted to have an open order like that. SOmetimes I set my loss leaderâs TP for like 100 pips
But over time and in the forums folks have slowly convinced me that getting long lower is better. Maybe spacing them wider is better from a high loss leader. I guess it all relates to your margin management plan.
I am currently stuck in some KiwiYEN at about 4% of my margin. It is so boring and slow! True every 21 days I earn 100% interest and thats extremely high. But I got to get rid of these after collecting triple interest
so I can buy some GJ. What I need to do is forget about running my account on all profits and dump some money in and get back to trading GJ.
I have nothing to prove to anyone. Those who have followed me for a while understand more than they can explain and what they have learned is something no one can ever take away.
And Grader donât ever let them run you down, you know the truth and if you can go down to zero, I dont think it can ever go close to that
I guess you have it covered. I never used the spread sheet but after you have been run down and out you get a feel for how low you can go.
I probably play too conservatively. But as my p2p monies pile up
and my loan goes higher, my forex income doesnât need to be so much.
I do have them (my broker) mail me a check every week just for GP
And if I only reach one person, and the light goes on for them, then I have met my objective. As a result grader thinks differently. He makes money in forex, not because he trades what everybody âknowsâ, but because
he has changed his thinking about trading forex specifically GJ.
So I was successful in âpassing on how to do itâ to someone else.
All I ask is that as a result, your whole outlook changes and you now will help others in need so your rewards will multiply, And one day, youâll look back and wonder why you didnt see it sooner.
It can be so simple and it can be so easy if you think and believe it is.
It will work in spite of the individual and what they think. It is initially based on what you do. And you did what you were supposed to do and are now elevated to the next level.
I got careless before, At first when I discovered this I too was shocked and in awe. And had so many thousands piling up I was almost reckless and got arrogant. Always remember Humilty, it is the #1 attribute to attain. You attain this and all else will quickly follow.
Would be nice if we could break 213.30 so I can get a loss leader there and hold it into 214.50/60.
as I expect we will dip to there before we head up to the big hurdle.
