The reason for that would be so you have momentum on your side. Yes you could trade a pull back and yes you could make pips in doing so. You can also just flip a coin do decide on weather you should buy or sell. The purpose of that rule is to have as much momentum in the market backing you than going against you. Also becarefull buying retracements some can just go sideways for a while before continueing a trend to from a HH or LL. In this case you just wasted your time if you got out in time if not you lost. Looking at your chart I dont see a good examle of that I do see some pull backs that were crapy at best but could have still got you some pips. The point is to be profitable as a trade you need to attack the market like a sniper waiting on the target and taking the shot. dont be a machine gunner who fires alot of shots but never hits his targets correctly. Patience and discipline are key.
What a corker of a typo, so fitting, weather, I always knew it was something to do with the weather!
Sorry guys, it just stood up and poked me in the eye.
Good work here by the way, I read with interest, itās really good stuff, but itās not quite up my ally so I canāt contribute that much, except for the odd frivolity, and come on, who donāt need some of that?
Or come to think of it, was it a typo? even better, sorry to interrupt guys, carry on.
lmao whether was the word I was looking for. Guess its time to change my screen name to rainman 
I could easily rattle on with silly comments, but you deserve better, so onwards and upwards , good pipping!
ouchhā¦ the light of illumination blinds meā¦:eek: hurt but revealing 
thank you bob. iām still new and yeahā¦ thirsty of some actions. being a Rambo looks cool but againā¦ sniper always has better hit and survival rate
and the cost of war is alot higher the more shots you take. I did not mean nothing personal by what I put there. I just tell it how I see it. Again you can make money trading a retracement but use caution. Like I stated price does not actually have to go up or down to make a HH or LL on a retracement (well a little yes but not much). Trust me I have been bitten that way many many times. Got into a trade to ride the pull back just to see it go sideways then back along the trend. Patience young padiwan you day is comming.
LoL
i just got my first light sabre. iām anxious and eager to slash some clone soldiers B-)
thanx again, bob
Fixed it.
Needed to go into prog files and delete a clone created by windows in it.
LOL.
Ok here it goes.
Dear Villian,
I can understand what you mean. It can be very frustrating to wait, wait and then wait some more with this method. And it becomes even more frustrating when you dont get an entry or worst still it goes the other way and does something that it should not like it has been doing for the last 10 or so trading days.
With that being said, I also trade two other systems, one being an EMA mix ( which I know is a very very bad word to say around here, but hey, EMA crosses are not the only way we can look at things. ) And of course the traditional sniping here and there. Mind you I dont do the snipping or scalping much because I think its a waste to keep making your broker rich consistently why you bear all the risk for 5 or 10 pips per entry.
This is mainly done to keep boredom away. Same reason running a thread here. My point being, I do collect pips other ways also. Remember there are many ways to skin a cat?
With that being said, keep in mind that the market will always move, up and down. We cant catch it all. It is always good to be on the side of the good guys ( read bias ). If anything goes haywire, we can at least be rest assured that we did not fight a loosing war. ( maybe count on going to pip heaven also if the trade martyrs on us :D)
If you have two or three game plans, then dont mix them. Practice and get being comfortable with one system before looking for the other. It can be tough to become a professional Jedi if we are messing with both the light and dark energies at the same time. Even Vader changed systems but he had to pick one. By the time you are done, it should be instinctive. If you are looking at a chart and having to think, then you need more practice.
Get one going, master it, then look for another.
When you are ready, you will realize that you dont want to be playing retracements.
Can it be profitable? yes. But what about long term? And most importantly, Consistency. That is the most important thing in trading. Consistency. And you wont find consistency on a retracement as Bobmaninc pointed out. You might limit damage, but never be consistent.
So I hope that helps you some what.
Happy Pipping.
nikita made a good point here. I dont scalp or anything like that I run my system same way every time its just what I do and how I think. But boredom will kill you looking at charts all the time. Thats why I have multiple screens 2 are for trading and 1 is for video game and face book or what ever I feel like doing. My trading room is pretty big now so me and my 3 yr old play catch all kinds of things to keep me from driving myself crazy starring at screens. You will then begin to think and you should not have to. Yes to many distractions can be a bad thing but try it and you will get the hang of it and understand what I am talking about. Maybe one day I will have a few systems but right now I am happy with what I am doing. If it is not broke dont fix it. I dont trade full time so I have steady income so this is just for fun. and honestly make decent money at it I am by no means a rich man as I use it for play money but that is what it was when I open my account. Villain you got alot of heart and want for this thats the first step with time understanding and patience you got what it takes. It is alot easier said than done though.
Sounds like you have been reading Alexander Elder and / or Nial Fuller.
However I must say that I do agree with your comments. We do need to be selective on the shots (trades) we take at the market and being patient for the setups that will give us the best probability.
Tom82 are you ok with the SL / Risk / System Stops / Compounding thingy now or do you still want a write up??
Am in a very good mood today. Damn thing is back to how it should behave.
Happy Pipping Mate. 
Tom82 are you ok with the SL / Risk / System Stops / Compounding thingy now or do you still want a write up??
Am in a very good mood today. Damn thing is back to how it should behave.
Happy Pipping Mate
yes pleasseeeee
btw speaking of fuller, iām thinking of enrolling. unless nikita here runs a course
do you? do you? please say you do
Thanks for the message
I have been offline away from internet/forex the majority of yesterday and today, had to go to the shops and have just taken some time away.
The compounding thing is a lot clearer for me now, I had read that post that I refered to before and for some reason didnāt combine that into the other compounding info - feel rather silly about that.
I have just started re reading the thread again and some more is sinking in. That writeup would be awesome thanks!
I do have a couple more questions but they do not relate to SL/Risk or compoundingā¦When I work out how to write the questions to make some sense I will let you know.
Thanks again for your time and assistance!
Nikita has a course? Iāll sign up!
haha very good yes that was a quote I stole from Fuller and changed it a little Villain if you do take his course let me know what you think of it. I have thought about it. But then I decided to trade with that money instead.
i too was hesitant to take a course in the beginning considering the money. but even nikitafx herself said that it is much much better for a newbie to find a mentor. besides if the legend says that around 90% traders failed, what makes a noob like me think i can be part of the 10%? most if not all professions require a formal education, why is trader any different? yes there are some bright people out there that can figure out the market without formal education. but after how longā¦ and how much money spent in the market? frankly speaking iām in for the money and i donāt have much time. the shorter way would be learning directly from a mentorā¦ a course
now i donāt mean to promote at all. soā¦ i found this paid to post forum sponsored by a broker. in a month i gather that i can collect about enough to to pay the course. the bonus will be deposited to a trading account as capital. so i can direct my money for the initial capital to the course.
why nialā¦ wellā¦ heās in 3rd google result of āprice action.ā his free materials are already good, makes me wonder whatās hidden in the premium section. i checked him and the course all over internet. he did have some problems here and there (even here), but i think that was his young blood.
i too has stalked nikitafx around the net just like nial, she too faced the same problem. i didnāt know that internet marketing can be so cruel. anyways, it was one of her stories that made me decided to get a mentor. after reading that i was thinking of making her my mentor but she doesnāt have a course LoL
Hey Villain,
Tried to send you a pm, but it said you canāt receive them, maybe you have it turned off?
maybe because iām a total noob with 29 (with this now 30)
i tried to send PM to once and failed
Well guys this is my course!!
Nothing else. That is all there is to it.
The difference between trading after reading this and having a mentor guide u is that mentors help in real time trading.
You start seeing a lot of mistakes and a lot of things that we miss seeing gets pointed out.
And of cause its a great confidence builder. And most importantly it accelerates your learning curve dramatically. It also keeps you trying during the darker times when the market simply baffles you.
Other then that, a mentor is not going to be able to do anything more ā¦
The problem with running commercial mentorship? Well read what ur broker says on his front page. FX has a very real chance of causing us to loose alot of money.
When you have ppl pay you, they dont forgive mistakes. Nor do they forgive the you if the market decides to be a pain in the posterior like it has been the last two weeks.
They paid, you better deliver.
I know this cause I was with a mentor before. It all becomes much more harder. And when you think back, you rather would have just sit and traded in peace.
After all what is another 1000 or 2000 USD in mentorship fees??