Hi guys, please let me introduce myself.
I am here to share my technique and daily chart (whenever I have time). I am hoping for positive feedback from senior members or whoever want to help me improve my trading skills
[B]
So what I use in trading?
[/B]
- I use 4 charts, M15, H1, H1, and H4. I donât use any other chart.
Wait, why H1 and H1? I use two different templates. [B]First one is using:[/B]
EMA 10
EMA 50
SMA 35
this is my main template. Moving Average - Price Action
[B]the second chart is using:[/B]
heiken ashi
TDI (I dont buy dean malone guide, dont get me wrong guys. I just downloaded the indicator file from FF. If you want the indicator for free, I will post it here)
stohastics 5,3,3
I mainly use the second chart to look at trend setup as well as confirmation. I trade based on price action but my main method always involve moving averages. Previously i used bollinger bands but I notice itâs not necessary and only confuse my eyes. But if you are a newbie trying to learn how to trade, bollinger bands usually help hehe
Btw, I wonât promise I will update this thread everyday because I might be busy or other things. While I trade almost every day but updating forum post needs more discipline than trading itself lol
so letâs just get down to business shall weâŚ
today i took about 50 pips from just EU.
Reason I bought it before LO?
At frankfurt open price broke the bottom of asian session and pullback. Look at M15 chart, it was very clear. I should have waited until LO to enter the trade but I took the risk. Easy trade today, very easy one.
*I am currently running short on EU after double pin bar at top. Will close it soon after I enter âsubmit replyâ LOL
as you can see above, when I was printscreening the chart, you can see the order ID with text âsellâ. yep i was selling and now have closed it at 18 pips (1.2986). Very easy trade today really. I hope everyday is like today
and if you want to know why TP was 50 pips and 18 pips?
hereâs the answer:
when price breaks out of asian session and reverse quickly just before LO, 80-90% it will go in one direction in London session. I usually set my TP at 50 pips and SL at either S/R or the bottom/top of the breakout in frankfurt session.
Of course i can manually exit when I see another PA forming but apparently it only formed a nice pin bar after price hit my TP.
and why 18 pips after the 2nd pin bar? and why not at the first pin bar?
because i wasnt convinced. the first pin bar formed before NY Open. Time matters for me so I waited and it paid off.
I entered at the 2nd pin bar and as usual I only put 20 pips TP (minus 2 pips spread) from a simple pin bar after a trend (I dont trade in every pin bar. Just a strong one and AFTER it formed a trend before. Also if the pin bar formed during london early hours, most likely my TP will be 50 pips and not 20)
Thatâs it for today folks. Comments?
and if you are curious about where I get my trading techniques, yes mostly I learn from FF. Many great senior members there
but i hope here i can learn from others and inspire others too.
Of course not every day can be profitable. Last monday for example, I was at -16 pips.
hope everyday is very easy like today LOL
btw the above screenshot was taken about 1 hour ago when price was still 1.3003
and anyone knows how to make the screenshot appear bigger here or should I just upload to tinypic? Maybe i will do that next time @_@
I didnt post here yesterday (also in my blog) because I was out in cafe for half day with friends. I did trade using my laptop there but totally forgot to update my post here.
So yesterday i made 2 trades. Was fooled out by the frankfurt breakout. I went short but it bounced back so I closed the transaction. I went short again after it didnât break resistance 1.2983 (fibonacci also confirmed this).
My chart for yesterday:
http://i46.tinypic.com/353b82f.png
today: price failed to break support but this is still far from london open. anything can happen