On your EA long, could I ask for a little more detail on the SR for your entry. What was the basis. Nice trades btw.
WK TF
day TF
My SR level for this trade setup
Looking back on it I think it was a little bit a lucky trade It looked like a signal on the 1 hr time frame and lower TF and SL also not optimal placed
Ignore the dashed lines they are part of my onscreen position size calculator using SL TP and Entry lines
Hi Johnkay96
I post my trades here because I used the method from this thread You don’t have to read all of it only the first 40 pages or so. I also got a lot of information from other sites, babypips school and reading “Trade your way to financial freedom” from Tharp
In this thread you learn to find a good setup but there is not so much info about Money Management, Risk Reward, managing trades etc These are maybe even more important factors for trading, but you understand that if you read the book
Thank you TC, I will follow your advice, and we will see what happens
Keep on making pips and happy trading!
Hi Bob
Long time no news from you, how are you doing? We try to keep it alive and we can use your help
Price action is very important to a trader. We have a lot of indicators these days been stuffed heavily on charts but this doesn’t remove the value of simple price action as a powerful indicator. Its simple yet needful: simply study past prices and build an approach to predict future prices. Well, price action often referred to as “naked trading” is so essential to my trade especially the pin bars which tell me if more buyers or sellers are getting on a pair or bullish/bearish engulfing bars which tell me of traders sentiment in the market. One thing that makes price action indispensable is that it is not a lagging forex indicator unlike many other indicators.
100% agree with you, i dropped all my indicators and only focus on few PA
Short gbpaud 2.04614 moments ago
this morning Buy audusd 0.70487
Hi everyone hope you guys are doing great, how is your trading going.
I am on BE for this year! Wish I could do better. How are you doing?
TC the year just started , BE is a win it could be worst. However you have plenty of time to make serious money , i am rooting for you .
I quit manual trading as my discipline and emotion problem.
My EA will replace of me.
I only trade some long term chances, I have a usoil order , long at 28.0,
stoploss 24, taketarget is 60.0.
few days ago EA long eurgbp +200 pips.
now EA short eurgbp +80 pips more, be now and still running.
I observe eurgbp pinbar at h4 tf, it’s a chance to long.
How do you think?
I think it’s a good bet, lets see what the GBP does in a couple of hrs.
[QUOTE=“tonyro44;748822”]I think it’s a good bet, lets see what the GBP does in a couple of hrs.[/QUOTE] I took it and it looks like it’s it’s going to hold provided your stop loss was bellow the bottom of the pin bar. Fingers crossed anyway
Hi TC,
I am doing good so far, BE is not an option, we have whole year in front of us. As tonyro44 said he is rooting for you so don’t worry we will make this year profitable.
Thanks Sharebazar and Tonyro44
Tonyro44 Some posts before you wrote about your loss when you started trading What or when did it change? Did you have some eureka moment? Or did it improve slowly? You also wrote about the waiting game. How you deal with that?
I am going through ElectroFX Pure Price Action Trading and his site to learn more Do you know other good books / threads about trading?
Sharebazar I could ask you the same but I saw how you developed yourself. My problems are SL issues and jumping in the trade to quick. I remember you had also problems with the SL.
I am still trading with a to small account My risk is between 1% and 2% because I can not trade smaller positions I don’t take good opportunities with higher risk (> 2%) SL is about 50-65 pips mostly
I don’t trade from american close charts and I have 6 daily candles in a week. I know that is not helping
I have an expensive broker. Some pairs have a 20 pips to 25 pips spread EU is 4 pips. No commission.
That is my To Do list. Remarks are welcome.
Hi TC HOLLAND it took me about three years before it all started to change, by this time i had tried everything, systems and so call tricks i can think of. Everyone is different because of the time you have to dedicate to the work . Waiting period is one of the hardest thing for any trader . When you have a plan for the trade , you have to remind yourself constantly of it, that is how i deal with the waiting. Many trades uses NY time and a 5 day charting . I most say , i don’t trade pairs with such high spreads, it is to hard to make money that way on a consistent manner for me. I feel you are just about to break out and make good money. Remember is not about hitting a home run in every trade.
Hi TC Holland,
Nikata’s PA is perfect enough to make profit,
I write Nikata’s PA strategy into my EA , it work well.
Focus on pin bar at h4 ,enter at half of pin bar.
Eurgbp two pin to show chance to long.
Gbpusd pin bar at 1.44973, short at half pin bar by my EA.
Now pin bar at bottom arrow, show long chance, but need check day/week bias,
by Nikita’s strategy.
Everything is ok, if we can follow Nikita’s strategy:
1, pick most clearest pair
2, check day and week bias
3, wait pin bar formed at h4
4, wait price retest half pin bar, and enter at half pin bar
Thanks Tonyro44 I have the feeling that I am on the right track but it is a process of continuously improving myself and finding my weak spots.
BTW I didn’t know the expression “Rooting for” You are even helping me with improving my English Thanks for that too
Hi TC,
I think 50-60 pips SL is more than enough to good risk:reward.
Just for an example, hope it will work according to the plan.
EUR/CHF
Looking to short between the two horizontal line. Red horizontal line is SL around 50-60 pips and green horizontal line is TP around 100-110 pips.
Let’s watch the market now.