Note this crucial decision to limit risk and still [I]listen to the chart[/I] and stay in when I was thinking to close.
There is potential stopping volume now on our 61.8 test. A bullish close around here would tell me to close another 1/4 of the trade, if not Iâll hold. Listen to the chart.
Edit: closed another 1/4 after the bullish closeâŚonly 8 pips. With no risk I didnât have to, but realistically itâs struggling with that fib area. So, half the trade still on. Either itâs gets though the fib for some more targets or not, whateves.
Cool. I still have 1/3 running, closed the rest and I bet BE will be hit in a moment.
Perfectly fine if it doesâŚyou wouldnât want to find yourself sitting short off a fib/stopping volume bounce and looking at that draw down. Got a crappy hand, fold lol.
No I wouldnât want that! I rather want to relax tonight without that on my back
And there it goes, BE hit
Edit: Hmm⌠But price didnât even reach up to my SL, like 3 pips away⌠Strange
Yep, weâll see how this turns out with no worries. At the very least you had a fine bit of scalping on a choppy day. Well done (besides nobody watching for news lol).
edit: I see your outâŚIâm up 2 pips now lol.
DannyâŚtalking about trading off 1hr only. Waiting for that close as I saidâŚthe entry price was the same as our 5 min entry lol.
Are you sure you are looking at the ask price. In other words the buy price? Itâs a buy since youâre closing a short. MT4 by default shows bid price. Itâs only accurate as a SL when in long. Otherwise you have to account for spread.
Yeah, atleast we got something out of it
Yes youâre completely right there, my mistake
When/why did you enter this trade?
Your volume looks pretty badâŚdonât use fxcm. Get a demo from IBFX.
âŚand Better Volume is useless imo.
Haha whatâs the odds of that really!
Btw, have your trade hit BE yet?
Nice to see you guys sharing your exit strategies. I closed 2/3 on that no supply bar after the initial demand came in and locked BE on the last 1/3. Goin to move SL down and lock in +9 above that topâŚmaybeâŚmore demand just came in. Weâll see.
My exits are improving but I still find myself hoping against what I see on the chart, and thats gonna have to stop if I am goin to make any money.
This was an excellent first day back, and although I had planned on putting this trade on anyway, it definately helped to see you guys eyeing the same thing. Kinda feels like i cheated off someone in class though lol.
Nope, stop is 68.2, my broker shows a high of 66.9 on the ask.
Youâre only cheating yourself lol. Yeeeah, thatâs why I donât like to post to many real time entries. But since you are learning to do it yourself, Iâll let it slide lolâŚgo watch all the videos again to make up for it.
Edit: sorry I got you mixed up with JimbosonâŚwho did the actual cheating lol.
I already plan on doing that. I am obsessed with this stuff, just ask my wife I spent the weekend reading the whole first thread again on my phone at work to prepare for 3 days of trading.(beginning thursday I work 34 straight 12 hour days, so this is the only chance i get and I wanna make it count.) I have read many many threads on VSA, and yours are the only ones that seem to wrap the whole concept up nicely. I understood the concept of the whole accu/distr cycle, but I never really saw it on my screen until I read the 1500 thread. Plus you laying out where to look for stopping volume or buying climaxes, and then me seeing it happen on my chart was unbelievably eye opening. I was busy looking at WRBs and not grasping the big picture.
I was down 9% on my account and after seeing your thread, and just a handful of trades later Im only down 3% and climbing out of the hole. SoâŚthank you very much.
When Im done working all that time I plan on doubling what I have in my account and trying to make some decent money with this
Great! Keep up the good workâŚthatâs nice to hear.
WRBs eh? So those VSA âexpertsâ in the greatest VSA thread ever, couldnât help you become profitable, but I did?
lolâŚIâll shut up now. :21:
Donât look Danny, just donât look man lol.
Closed another 1/4 here at 61.8 for 18 pips. It is what it is, itâs getting late. I have that last 1/4 on with no tp at BE.
Handling the trade just the way Iâve been explaining. Another good example today. Making the best of what is really there, and letting a small peice run with no risk since there is still a chance for this background to play out more.
HahaâŚvery funny. But it seems to be the case.
I donât wanna bash them though. They have put in a lot of effort to help others and I did learn alot about what makes a good VSA bar and a not so good VSA bar. But yea, when it comes to noob traders and VSA this is def the place to come.