yunny1, thank you for you reasonable explanation now i understand. In future i will take note of what you said and won’t recommend anyone to buy a book from this point onwards.
If Slipperywhippit kindly explained that to me the way you did to me, i would have apologized and went on my way. Once he came in and talked to me like Cop, really rubs me off the wrong way.
Thank you for recommending me the site, i will sign up and post my results after getting a reasonable sample size. Have a great evening.
BUMP! The only reason im sticking with this thread is because of Dali. Sharing is Caring. I got to admit OMG is abit over react (cool down bro.)
Instead of advising/encouraging others to start reading DS material or do anything related with DS fb,twitter or forum, it would be best to start focusing on the Order Flow material. It’s not helping at all when certain names are being thrown out and it will sound fishy to the others.
OMG, i appreciate your post on showing how you trade with order flow with illustrations. Thats the thing needed! There’s no need to fire back what other forum members got to say on your post. As long as you keep sharing your trades, i believe other OF traders will notice how smexy it is!
Keep this thread clean please. For once im glad this isn’t coming from another Jefferson guy who brag on order flow trading and his Porsche.
Didn’t set any SL. The moment i placed the trade, it went positive and close to my tp. Yes i should have place a SL in any circumstances, but i am pretty comfortable with this entry and should any circumstances the sentiment go against my trade, i will close it. Right now im watching it.
(Edit: Set to BE. 12.22am now, need to catch some sleep and too tired to watch the trade.)
Just in case you missed it can you please answer this question? Thank you.
Hi Dali,
And also may i ask what is you standard bread and butter risk to reward (R:R) in comparison to your stop loss on average? I know it can be annoying i ask you one direction at a time but as I trade now your methodology, questions comes to me each time i implement your system and it doesn’t come all to me at once.
I know that sometimes you may let it run and the RR may not be able to be calculated but can you give me some guidance so that i have rough template to work with?
When trading your methodology do you personally set a profit target in advance as well as the stop loss?
Once you enter a trade a take profit target or do you read price action and cancel the trade manually once in profit
I am saving your advice and gems away into my notebook.
Thank you Ben for starting this thread, i am truely appreciative of this.
Jacky when i get home from work tonight i will post some live Smexy trades. For the rest of my life i alway ask myself? What is the sentiment? What are the traders feeling? What happening to the economy? What are the traders focusing on at the moment?
I trade only trade 2 currency under the advice of Dali, my own the AUD and of course EUR.
I have a rule that every trade I take must have a minimum RRR of 1:1. My day trades have usually a RRR of 1:1 up to 1:1.5, rarely above. But they are high probability trades, so I feel comfortable with it. I’ve found that when I tried to catch the large daily moves in day trading, I got greedy and was not able to control myself properly. This is why I prefer to take short trades when day trading.
When I do swing trading in FX, I want a minimum RRR of 1:2. On average, I get 1:2.5 to 1:3.
Yes, I always have a predetermined target and stop level. Like I mentioned above, when I didn’t set a target in day trading, I got greedy and wasn’t able to read price action correctly. Mostly, I ended up losing a lot in paper profits and had to close the trade for a small gain. This is why I changed to fixed TP and fixed SL.
I watch PA closely after I have entered a trade, but most of the time, I do not manually close a trade. It can happen if I see clear signs that my trade won’t work out, but I prefer not to do it because it could end up being a habit. Imagine you would second-guess every trade you take, it would drive you crazy with time and probably lead to overtrading. If I get stopped out, I’m not in a trade anymore and I can analyze what went wrong more clearly.
Not sure OFT or not. Recent EU showed rejection of fibo from D1 swing. Those who traded on 1.31 break are caught in a weak bullish movement. The stops above were triggered, driving price upward a bit then drastic down after touching the fib line. I can imagine those trapped bull are selling off panicly probably causing the market a gap down on monday open…// maybe? :46:
I like your thinking, but I think nervous longs already covered ahead of the weekend. However, as you can see 1.30 is a pretty strong support level, so a break below would lead to further covering of long positions.
Not sure about the gap, there was some news from Italy over the weekend which could lead to Euro strength at the opening.
But let me tell you that you are on the right path with your thinking!
Lol thanks Dali. My assumptions made are purely technical and OFT. I have yet the fundamental stuff, once i read the news and catch an eye from the IFR, probably i will know better. But as you said, if over the weekend any good news appear from Italy, probably the asean session will groom some fresh buyer. Still…let’s see where those stops are now aye…hehe
I think it would be a double posting…unless babypips is ok with it. From the fundamentalvile there’s a thread where a honorary BP member will post daily commentaries. Those are really helpful stuff!!
Jack - W.H.E.R.E. would they place barrier options to protect their stops either way and W.H.E.R.E. would they be looking to break a technical level either way - if - they wish to ?
And W.H.O would be interested to buy and W.H.O would be interested to sell ? And W.H.Y ?
ECB rhetoric from last friday: “The Euro displaying acceptable range”.
Cant wait for your commentaries Dali! Would love to see how you think on major currency pairs and how you structure your OF on the chart. keep the good work going!
The Euro had a gap higher on the open as traders reacted to the weekend headlines from Italy. I think risk appetite has increased and we are seeing again JPY weakness across the board. Futures are indicating the European stock markets will open higher and Euro was supported by strong EUR/JPY buying & Asian Central Banks diversifying it’s USD reserves.
There are no events on the economic calendar this morning, so we will likely stay in a 1.30 - 1.3150 range. I favor the upside currently, given risk sentiment, but we are in the center of the range, so waiting for clearer signals is better.
Should we see a stronger USD, looking at EUR/AUD might be a good idea as well, with AUD being the weakest currency currently.
keep the good work going!