The best way to stay consistent!

Its been a slow week from where im sitting. I had a couple trades i liked but news events turned them against me. Reminds me to take upcoming announcements into concideration when placing a trade. Do you mind me asking how your week went SR? Roughly how many pips?
Thanks to all

Id have to agree with you there Billko,Ive been trading more with indicators but have come to the conclusion that announcements and fundamentals are everthing with indicater mainly used for entrypoints,resistance and support,being equaly important,using these things ive found better trading this week ,trading with strong currancysie aud, nzd againt week ones like the euro has been good this week for me, cheers.

Hi billko1977

Yes slow week, due to fundamentalsā€¦did ok closing at +3K, havenā€™t calculate the pips, but go ahead, statement attached

DetailedStatement.pdf (156 KB)

thats cool SR i think u also deserve a keep up and its encouraging to see this thing as real just wanted to ask u dont use sl?and tp?

TP never always leave it open, SL I do at times, but when I am trading in front off the pc I leave it open, if I go away from the charts then I put one inā€¦

Can you attach the chart because I cant open the link in your post

Hello SR Player, thanks for the explaining.
Iā€™d like to ask you to judge this setup Iā€™ve found on EURUSD:

  1. I marked the lows by the shadows of that candles. No shadows no lows.
  2. Impulsive move.
  3. The green candle just closed with a little shadow on the previous low.

Thank you

I like eur/usd lower, Daily in a wave 5 down

Hi SR,

Ive got several questions but forgot most of them so Iā€™m just gonna ask one now. In your 1:3 RR how long does it take to hit that target? On average? 3days? A week? 2-3weeks? And if not mistaken you hit 15% at that point right? Thx!

Depends on what time frame I am using, from 1 to 3 day usually, unless the mkt is quiet like last week, where I take trades off lower wave timeframesā€¦

wow only 1-3 days? Thatā€™s very nice. Ok will try to remember some more of my questions. thanks!

Thatā€™s very impressive. I notice that u vary your lot size considerably. How do you base this? Is it according to your feeling on the strength of the trade?
I appreciate the posting of your weekly trade report. This information is very useful. I can see when and where you entered and hopefully see what you saw. Anytime you can do this with your successful closed trades I would be very useful to see the setups u take.
Im not interested in copying your trades but i am very interested to see HOW u do what u do.
Thanks SR

Excellent stuff. Look forward to see more coming. Just starting trading myselfā€¦

Dear SR player

Thank you very much for this thread, itā€™s a great offer from you.

Till now you told us about how to trade the Wave 5 after the wave 4 correction.

Do you trade the big ABC correction after the Wave 5 ??? I think the Wave C is safely tradable.

If your answer is yes, How do you trade it??? What is your method ???

Hi elits 1959

I do trade the ABC correction, normally the C will retrace to around 61.8% of B so that is a hint, also I trade it on a previous SR level and at times a trendline breakā€¦Wave 5 completion is important obviously after displaying a strong level of Divergence off the tradingit.com waves indicator then I will look for the ABD to start forming.

Welcome leonardo4358

try tradingit.com they have great tools for newbies

It depends on the day on how clear the set ups are, if I trade a wave 5 then I will let it run for a 1:3 ratio to the 127% ext with a larger position, if I trade lower timeframes then I will use smaller positions.

Looks like a very logic and simple system. Hope you can share more with all the newbie out there.:35

SR Player, you are excellent, superb. Words cannot define your efforts/help you provided to all through this forum.

No activity on this thread, any latest setups.

Thanks nk123

I think the cable is still bearish and has to come down by quite a lot, thats what I am liking today