im still doing ok,

friday 15 trades, 3 losers, 12 winners +40 pips
monday/tuesday overnight 8 trades, 8 wins, +59 pips
tuesday 6 trades so far, 3 losers, 3 winners, +29 pips

the problem i still have is a lot of these have gone 30-50 pips the wrong way before comming good as ive not put a stop on them, most would have been losers with any stop less than 50 pips.

the only reason i am +29 today so far is the trade that went 50 pips the wrong way, i placed a new short after -25 pips and another after -50 pips so i was able to close it for 25 pip gain without it going right back to where i first opened it. even now i have an audusd short open which has just gone 40 pips the wrong way so far again, never got close to profit.

i have to do something about this because if this wasnt a practice account i would not be happy about letting a trade get anywhere near -50 and wipe out a day or more of profits in one trade, all it takes is 2 or 3 of them and its maybe a weeks work gone along with any confidence. the other problem is the further away it gets, the more you want to wait for it to come back the right way and save you from those big losses so you leave it and leave it and it keeps moving the wrong way.

i need to sort these issues before i go live again in a couple of weeks (providing i remain profitable between now and then).

I did NOT write the indicator or method for that document.

I wrote the indicator for "my way" and I am presenting it "my way".

One does NOT negate the other. They are just different.

tis is what i was wondering about it too. surely if the bid price moves up to your ask price, it opens the trade and you end up paying the spread? the onyl time you pay no spread is if someone takes your price before the real price moves to it (which when doing fast scalping could be only a few seconds).

How many times must I repeat myself?

PRICE IS PRICE.

PRICE IS THE SAME ON ALL TIME FRAMES.



I agree with the over trading.

YOU DON'T PAY THE SPREAD AT MB TRADING.

YOU ONLY PAY THE COMMISSION.

If you buy at 1.2222 and sell at 1.2227, you gross 5 pips and pay a commission.

The spread does NOT matter!!

See my other posts in the broker threads.

Not so much buying I'm having trouble with
 

TRO,

I'll print this out about Buying using Limit, and keep it. I'm not having trouble doing either of these I don't think. But I'm having trouble with Selling at the Ask (first) and buying back (second, aka closing Sell) at the Bid.

Don

This is the post I was referring to when checking price in the "big picture"...not much more became of it, but didn't want to leave this stone "unturned".

Perhaps instead of trying to force a trade in these situations, perhaps it's better to stay out...go find another pair, or quit for the day when in profit...there'll be more "wind" later/tomorrow :D

I did it again! I made 17 pips over 3 trades. Then I moved over to EUR/USD. Seen price in a turn around, but missed the move. So I drew lines and stretched a fib from low to high and placed a buy limit just above 38% retracement at 20:49. Wouldn't you know that it went against me and the hour candle has changed to red as well. I didn't use a stop, but if I did I would have been out as soon as I entered. 17 pips in the hole, I guess it will come back again, but I only take 7-8 pips on a win. Using a stop, It would take me 3 trades to lose instead of one.

I don't know what to say. This really is the story of my trading. Gain 17 lose 20+. I'm also unclear about only making trades that are with the H1. If that was a criteara, I'd never make a trade. M5 drops 12 pip, the H1 changes.

I'm sorry I can't post a chart. If my lack of ability to post a chart invalidates my post, I won't post unless it is a reply to another post/chart.

The wind stopped so abrupty, I had no idea it would do that. It looks like TRO trades all day long. His charts are chock full of amazing moves every time he posts.

If you notice, it was a WEEKLY HOMEWORK ASSIGNMENT and no one posted their homework.

Perhaps this weekend someone will.

I don't know where you got that method, but you didn't get it here.

Not sure why you can't post a chart.

There is nothing AMAZING.

It's just price action.

Your charts should look the same as mine.

Don't you SEE that?

http://i35.tinypic.com/2r4isxs.gif

PRICE MOVES.

Price must move through THE BUY ZONE.

Short at RED and long at BLUE.

Quick profit at GREEN.

Simple.

http://i34.tinypic.com/2qdctp5.gif

It may be easier for you to see it using M5.

The lines change each hour.

WHITE line is the OPEN price for the hour.

See, you are ALWAYS trading with H1 CANDLE COLOR when you trade THE BUY ZONE.

My last post was 4 minutes ago.

See what can happen if you WAIT FOR PRICE TO COME TO YOU!

http://i33.tinypic.com/302t1ud.gif



PRICE EITHER GOES UP OR DOWN



Do you SEE that?

Look at the chart.

That last candle was GREEN and PRICE was ABOVE the BROWN dot but PRICE failed to make a NEW HIGH.

So if PRICE is NOT going UP....

DO YOU SEE IT YET?

And, YES, that does seem to CONTRADICT a rule of thumb. That rule is to keep you out of trouble. But PRICE knows no rules.


TO BE CONTINUED...

ARE YOU CONFUSED?

I have shown you various HORIZONTAL LINE indicators and entry methods on chart after chart after chart...

DO YOU SEE WHAT THEY ALL HAVE IN COMMON?

Remember, I told you that you do NOT need any of my "indicators".

ALL YOU NEED IS YOUR EYES!

DO YOU SEE IT YET?

TO BE CONTINUED...

Price had touched resistance and was already a couple of candles into the reversal. The H1 was green so I couldn't go short. What would you have done? Could you observe price getting ready to take a 85 pip dive? The only thing I observed was price climbed steadily to resistance and turned around. Wouldn't it make sense that the decline was a retracement?

That method is going from everything I learned here. I also ran through the whole thread again and wrote notes on key points before I attempted a trade.

I suppose I did get 2 good trades today. I almost reached my daily goal. Maybe by tomorrow my position will be back to where I can take a small loss and move on to a better trade. I hate waiting a whole day and night for a trade to come back from the depths of the abyss before I can try another trade.

How does this H1 candle really play into things? As I write this, a green candle came up for 30pips. Could I enter? It's against the H1.

I can't post a chart because I trade from my phone.

Then post your notes and the EXACT, SPECIFIC rules for entry.

Let's see what's missing and what doesn't belong.

TRADING FROM YOUR PHONE?!?!?

DO YOU REALIZE WHAT A BIG DISADVANTAGE THAT IS?

I'll post this one when I get home from work. I would value your opinion on what I did unprofitable. I f I knew what I was doing, I could have gained 10% on my account in just 2 days, including losses. Thats the frustrating part.

after the green comes the red....??????

and after the red comes the green????

always

NO.

Sometimes RED follows RED.

Sometimes GREEN follows GREEN.

But sooner or later, the colors change.

There's something more "key" to SEE.

i didnt mean individual candles...
but after a streak of green always comes a streak ( or not streak) of red...

if you focus on color of H1, ther is higher probability of the longer streak to be from same color as H1 especially if in middle of trend of H1 ( ie: not close to support or resistance of H1, where things might be ( or not) less straightforward).

the height and width of support and resistance line ( the dynamic ones) also give indication as to where and when chnge in color might happen.

when a candle crosses any horizontal line there is a mucher higher probability of the candle going further than actully stopping at that line and reversing..... what i mean is that for any candle, even the shortest ones, it crosses more lines than than it reverses at a line.....

in other words each candles stops at only one line but has crossed many.

http://i36.tinypic.com/wtsq6x.gif

H1 and D1 both GREEN.

It's not hard to SEE.

You SEE it, don't you?

http://i38.tinypic.com/mcwy12.gif

Buy Zone trade worked (again).

i know what i see....

it makes some sense to me for the moment


but since i dont know what you see, i dont know what to answer to your question

:)

http://i35.tinypic.com/mhdlq0.gif

The DRAGON TUNNEL told us which way to trade, as did the M15 candle color.

http://i34.tinypic.com/11bm9mg.gif

TRO SR RR gave us the profitable entry direction.

HORIZONTAL LINES AND CANDLE COLORS

http://i35.tinypic.com/2qnaweg.gif


DO YOU SEE SOMETHING ELSE THAT YOU NEED?

From the 123 manual that was posted:

http://i38.tinypic.com/3338z9d.jpg

DO YOU AGREE?

The articles HERE, quite likely the largest free collection of trading psychology articles on the Web, are available for downloading.

HAVE YOU EVER GONE SHORT ON A GREEN CANDLE BECAUSE YOU THOUGHT PRICE WAS TOO HIGH?



http://i38.tinypic.com/bi9mbq.gif



QUIT THINKING AND START USING YOUR EYES TO SEE WHAT PRICE IS DOING!




Price went UP over 50 pips since the last post.

WHAT INDICATOR WOULD HAVE TOLD YOU TO BUY THEN?