You talking about at the area of that accumulation? Before the big green candle?
I got in at this white arrow. usually i short at Res. i was expecting it to continue lower
it was weak, wicks were big, gave it a shot but i hate when i get in and then it chooses a direction lol
@CRS220 it was a head and shoulders on the H1 fam.
you’re right, Inverted H&S. 1.24 Res, current support near 1.232. We’ll see what happens early next week. good pic Fam
Price had been bearish for some time, I was expecting bullish momentum. A good one to end the week
yeah i was actually waiting earlier in the week for a reversal. decided to go with the trend today, thought it would continue making lower lows. was wrong, lol. i kept loss small but it still sucks to be wrong… what are you guys watching next week? NZD/USD had a sick uptrend going on
Weekly recap. Charts and journals below.
Here is the Journal Entry as well.
Also guys if you don’t mind when you post charts make sure they are on the 4HR time frame. As to keep with the theme of the thread and how I trade. If you don’t trade the 4HR no worries, just make sure the charts are 4HR.
Also if anyone has questions about why I entered where on a chart or just wants to know any reason for anything you see, please feel free to ask and let’s discuss. It may help you but also me, never can stop growing and learning.
Nice work on Silver brother
Let me say 1 thing to you. Well first, your win rate is higher than mine and youre more consistent. But the 1 I would if I was in your position would be to make the losses much smaller. You have a lot of winning trades and I wish I was right like that but if you cut your losses, say down to 300-400, youre P&L would change pretty significantly. Not just in a week but month after month it keeps adding up. Would be a huge difference at the end of the year
Its awesome that we can all help each other in here and grow. We are forever students of the market… I also dont have anyone to talk trading with in “real life” so Im really glad I got back on here and found this thread…
And yes, Ill post the 4hr charts Fam
I understand what you mean, but you don’t know which is your winner and loser before the trade. I go through each pair with the same mindset so my plan and the way I approach a pair doesn’t change. And you just have to go with what you see.
And each week is different, last week the wins were bigger then the loses. Here is the snapshot again.
And remember the grey areas you add those two together as it starts off as a 2.0 Lot trade.
You never know which trade is going to really hit the spot and which ones are failures, just trade your plan and stick to it while not letting fear and emotion wreck your state of mind(easy right lol).
@Alg626 - question regarding your position management - I see you trade fixed lot size, are you somehow filtering trades based on SL ie. not taking ones with high SL with given lot size or just taking what market gives and don’t care about risk per trade?
I always try and set my stops just on the other side of a marked support/resistance or where accumulation has taken place.
So if the stop is too far away I usually don’t take the trade. I don’t stress over missing one particular trade, I do seem to trade more than most on here and there is always another trade coming. But I will at times drop down to a 1.0 lot if I have multiple positions open already that are unprotected and don’t want too much risk.
Not the best example. But just trying to give a visual.
Hey @Alg626, hope you are good? I just want to ask you on how you setup your candle stick indicator on trade view ?
I’m well thanks, The mods on tradingview made my scripts invisible due already having the same type of indicators on TV. I can post the pinecode here if you know how to use it, or look me up on tradingview. I have the same name there as here.
@Alg626, I saw your profile but cannot find any script under your profile.
Can please post the pine code, I think I will need to figure out how to use that or you can put me through?
True, I see what you mean. We also do have different treading styles too, I wasnt figuring that in. I am mainly a day trader, while you may swing something for several days until it hits your targets… good work though brother, wish my P&L looked like that at the end of the week lol!
When I get home this evening I’ll PM you the pinecode and give you a breakdown on how to get it on your charts.
Okay, thanks I would be expecting it.