The spirit is willing but the flesh is weak?
Is that correct?
AU H1.
Entry is late as usual.
Will this be the home run? 60 pips now and I am so very tempted to take!
Sometimes I hate children - I was out getting the kids from school and missed the Entry!
Nice work and interesting thread, sorry I have not been around more. I am lurking with interest, will endeavour to contribute more going forwards.
ST
Here are some charts I’m looking at. It’s the GBPUSD D1 and 4H. I saw the trend break and am looking for a sell as the bias.
Looking to see which s&r lines are correct and which should be ignored, along with the bias, etc…
What are your thoughts Nikita?
preach on pastor thats entry looks golden to me
Thank you for your kind remarks.
Traders like yourself, Bobmaninc, Buckscoder, Talon D and many more have influenced my trading alot.
Its funny though. When I started this thread I had the illusion that I was going to teach a few people on a method of making some pips from the market. I ended up learning much more than that from others who were kind enough to share and point out things for me along the way. I guess the saying that we never stop learning is true.
Finally, you guys are always welcome here. Please do share. Consistency in collecting pips has gone up tremendously because of your gold nuggets every now and than.
Very nicely done. Although my entry would have been much higher up, but I think you are still in the range of a good entry.
if it breaks 1.58957, the price marked with your white line, then 1.5800 area would be your TP I guess.
I probably would move my SL to BE when price touches 1.58957 due to my principle that the best trades are free trades and the art of trading is not to loose money first, and when that is achieved, then you will automatically start making some.
Finally this is another I picked up today from Bucks Coder.
Q : What position are you in now? Buy or Sell?
A : My current position is that I am not in a position.
Yes guys, Not being in a trade is trading. Matter of fact its the only position that can guarantee you of no losses 100% of the time.
We need to realise that for patience in trading to come forth.
The doji showed me that a reversal may be likely and I waited until the close of the next bar to confirm so I go into this trade after the closing. Where would you have gotten into this trade? You said your entry would have been much higher up, what price would you have gotten in? What would have been your signal? Would you have waited for a confirmation bar to close?
why would 5800 area be the TP? Is this because it’s the next support level area and you wouldn’t want to lose pips on a pull back and then get back into the trade after the pull back or do you only look for 60 or so pips a day and then you’re done no matter what or would you keep looking for other trades that setup regardless of how many or few a day there may be?
Very good questions.
My entry would not have been lower than 1.6000.
If we look at H1, that would give us a choice of three SLs. 23, 35, about 50 pips as all are valid waves.
The entry at that point would have been possible because of two things we watch out for. D TF Bias and support, resistance areas.
But that is ideal case. Most of the time as the market is moving we dont get such good entries. I didnt take GU cause I saw AU was much much more promising and I dont take too much risks on American session unless I see something really clear.
So I guess my confidence to floor it comes from Bias and S&R areas.
1.8000 would be the next support level. Again I never advocate for traders to hold for x amount of pips just because the chart shows so. I am more than comfortable to cut with 20 pips when I dont see things at an ideal state.
This makes me loose alot of pips because if you cannot control your emotions, then most of the time you will cut off your trades too early. I am just coming out of that malady.
The level I gave you is more academic so that you can see the logic behind trades.
Personally, when I am in for anything above 10 dollars a pip, I am more than happy to take 30 or 35 pips on the table. That is 35 x 10USD x 3 RM = RM 1000 per trade.
Most people here are working for RM 5 to RM 6 an hour gross.
What do you mean by this?
GU H1
Yellow top line is the final line of entry. I think the Americans call it the geronimo?
If you had entered anywhere above that yellow line, then its logical that your SL would be on the waves that has been marked with the red arrows. You see three waves on that price peak.
Please go back to the thread and reread our discussion regarding picking SLs with waves.
Which page is this discussion on? I’m having a hard time finding it.
It starts from around the area I start talking about picking SLs.
We start by looking at candle sticks as signals for entry and we end at S&R areas as the final thing to look at.
SL is sandwiched in between there. Its before money management I think.
P/S
I think it started at around post 170, and then another mention around Post 190, finally I saw a entry around post 213 or something regarding SL calculations and MM.
This is the reason I didnt want this to go on and on, but I guess hey we are all having fun along the way.
Maybe, just maybe I will copy some of it down and make it into an E Book or something.
Any Suggestions?
AU H1
100 pips.
GJ H1. This trade was inspired by http://forums.babypip s.com/members/the-home-of-golf.html from http://forums.babypips.com/newbie-island/39068-beginners-disaster.html
Will we cross the 600 pip mark for the week?
Lets hope so.
EA H1
Judging by the H4 candle, we would have probably looked for a quick sell for atleast 30 pips.
EA D TF
Instead price just kept shooting up to next resistance level because of D TF Bias.
So, Teb1825, your question on why I took a sell against bias yesterday? Well try not to. Its very risky even for those who really know what they are doing.
Have fun.
well looks like your not the only one who was wrong today. My head and shoulders pattern not looking like it is going to from anymore. Oh well no money risked is no money lost. I win either way 
Nice job holding that AU that we took yesterday nikita. I realize now that I should have just decreased my position and held out for another 100 pips. I knew that it was traded in the right direction and believed it all day long as well, but couldn’t do anything about it as I missed all of the good entries due to a 4 hour long zoology course I’m taking. Anyways, I learned my lesson a couple of weeks ago about trading counter bias and from now on if I’m tempted I just open up my demo account and take it, strange how it just keeps on losing money.
An account will not call margin the moment this lesson is learned and learned well by those who start out trading.
And its so hard to actually do that.