Trade with me - page 6
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If 1.2880 level is broken Today just sell and ignore indicators. Good hunt.
And go with to hell
Ladies and gentleman (and traders) 200 pips and counting.
Broke. Fall. Rebound. Test. And Fall again.
If you didn't yest don't forget to read: https://www.mql5.com/en/forum/177227
Trading 101
Why 1.2880 was so importnat?
The trade picture
The big picture
Lower low one year back.
One more thing. When you think on S/R avoid absolutes values.
If 1.2000 is support means several orders has been placed above or below but not all at 1.2000. That's why always wait for confirmation.
Imagine only 5 traders on market setting up orders. Always talking about 1.2000 right.
Trader 1 set his order to 1.1990
Trader 2 set his order to 1.1995
Trader 3 set his order to 1.1980
Trader 1 set his order to 1.2005
Trader 1 set his order to 1.2010
So, we have a range between 1.1980 and 1.2010.
THIS can be detected by bar/candle formation. You need to look the past.
Today sell/buy orders where placed on a tiny range of 1.2930 and 1.2880.
Seems several orders where place against (long) and traders desperately look to reverse.
Some explanation
Aussie can be shorted below last LL or better 0.9000 level.
Stop is not easy, 0.9130
Target 250/300 pips.
Follow M240 stoch. Jump in following M60 MACD
Aussie can be shorted below last LL or better 0.9000 level.
Stop is not easy, 0.9130
Target 250/300 pips.
Follow M240 stoch. Jump in following M60 MACD
How many pips you made today? 250 or 300
Maybe just another 200 pips with Euro?
I was wrong.
How wrong? a lot. Yes.
Is you asked me five years back which is the best way to make money fast by trading My. I answer would have been, many, many trades on intraday basis because you can set lower stops and as many you trade more money you make.
WRONG!
As many you trade more you risk.
You waste unnecessary time, nervous and energy to get 4/5 dailies during 12 hours.
You start with 5K hopping to reach 10k in a couple of months and then trade bigger lots. The way is trading as many as you can. WRONG!
Also. Seems here on forum and other sites everybody is talking about risk and money management. Everybody.
Ok. Let's make some math (I recommend you to read read my older post about mathematics on trading).
But we need to arrange bit some figures to give beginner a little advantage. Truth is, 25 pips is more like a joke than real thing.
During two trading months.
Newbie/Beginner
Initial capital: USD 5000
Capital risk: 2 to 4%
Daily trades: 2
Lots Trades: 1 mini
Target: 50 pips
Stop: 25 pips
W/L: 50% *
All in pips:
Daily profit: 100
Daily losers: 50
Total Profit: 50
Weekly Profit: 250
Monthly Profit:1000
Trading hours: 10 to 12
Total Trades: 80
Result/Profit: 2000
Risk assumed : 25*2*5*4*2 = 2000
Where 25 pips on risk per day multiplied by two trades per day, then by 5 days, then by 4 weeks and last by 2 months.
Advanced/Trader
Initial capital: USD 5000
Capital risk: 2 to 4%
Weekly trades: 1 (maybe 2)
Lots Trades: 1 mini
Target: 300 pips
Stop: 150 pips
W/L: 50% *
Monthly profit: 1200
Monthly losers: 600
Total Profit: 2400
Trading hours: 3 to 6
Total Trades: 8
Result/Profit: 2000
Risk assumed : 150**4*2 = 1200
Where 150 pips on risk per week multiplied by 4 week last by 2 months.
*Remember it's beginner trader and because this (statically) CAN'T get more winners than losers. In fact, most losers comes on first months. 50% winners is also questionable being mostly 1 winner per 3 losers.
Also remember: Beginners does not set Stop Loss at all (Another statically fact)
Off course this figures are questionable and you can disagree and we can talk about. Just waiting for feedback and proof I'm wrong.
Weird weird...
Seems we''re going to keep as is on coming weeks...
Politicians talk
Market runs UP
Traders understands nothing have changed after talks
Market runs Down.
and over and over.
But the overall move is bearish.
Ok. From this waves we extract trades
Last excitation after announcement of rescue packages seems gone. Maybe, time to short again for all those have closed last sells.
EURO M240 is on Pattern trade. Look for M15 or hourlies to enter.
I did not close last short and I'm again with 200 pips on profit.
Cable, is not clear what to do. So prefer to avoid.
Aussie. M240 is going to make a new pattern. After confirmation (MACD cross) go short on M15.
See ya.
Volume
And go with to hell
Ladies and gentleman (and traders) 200 pips and counting.
Broke. Fall. Rebound. Test. And Fall again.
If you didn't yest don't forget to read: https://www.mql5.com/en/forum/177227
Trading 101
Why 1.2880 was so importnat?
The trade picture
The big picture
Lower low one year back.
One more thing. When you think on S/R avoid absolutes values.
If 1.2000 is support means several orders has been placed above or below but not all at 1.2000. That's why always wait for confirmation.
Imagine only 5 traders on market setting up orders. Always talking about 1.2000 right.
Trader 1 set his order to 1.1990
Trader 2 set his order to 1.1995
Trader 3 set his order to 1.1980
Trader 1 set his order to 1.2005
Trader 1 set his order to 1.2010
So, we have a range between 1.1980 and 1.2010.
THIS can be detected by bar/candle formation. You need to look the past.
Today sell/buy orders where placed on a tiny range of 1.2930 and 1.2880.
Seems several orders where place against (long) and traders desperately look to reverse.
Some explanation
Regarding your last chart at the post I referenced,check the volumes(you can check Dukascopy ones,or esignal,I have found both of them to be representative,I am posting Dukas one) of the latest breakdown of the Eurusd on May 4th...your chart is a daily one,check how 1.3100 +- a few pips(1.31139/1.30920) is a barrier first broken on the downside(May 4th) with higher volume,then,more important,REJECTED on May 10th ...The Volumes tipped the hand...It may help you adding volumes,even if you are doing extraordinarily well without help
.
Thanks for your fantastic thread.
Un Abrazo
S
Regarding your last chart at the post I referenced,check the volumes(you can check Dukascopy ones,or esignal,I have found both of them to be representative,I am posting Dukas one) of the latest breakdown of the Eurusd on May 4th...your chart is a daily one,check how 1.3100 +- a few pips(1.31139/1.30920) is a barrier first broken on the downside(May 4th) with higher volume,then,more important,REJECTED on May 10th ...The Volumes tipped the hand...It may help you adding volumes,even if you are doing extraordinarily well without help
Thanks for your fantastic thread.
Un Abrazo
SHello and Hola.
I never suspected you have been watching volume.
Maybe is time to update my ideas. Old ideas.
Because with last developments on intermarkets volume is today a real tool? but wasn't a couple of years back.
However, by using a third party tool we can compare how different is volume on MT4 which depends only on broker's data. But eSignal joins several sources.
Feel free to close short on Euro.
I'm doing that and waiting for re enter on better volatility.
Break below 1.2600
Break below 1.2500
Break below 1.2450
Feel free to close short on Euro.
I'm doing that and waiting for re enter on better volatility.
Break below 1.2600
Break below 1.2500
Break below 1.2450Few action today. As I suggested, short below 1.2600 catches 50 to 80 pips. I personally don't care that amount.
MACD M240 & M60 is moving flat. So, leak momentum. Fundamentals shows the bear side but I don't want to just enter and get screwed by some announcements. Sell rallies on break levels is the strategy until momentum gains power.
We're on waling into middle key level, 1.2500. Last 1.2520 level was broken by few pips but nobody followed the move. This is the risk I'm talking.
We can wait. Once 1.2500 is broken sell on rallies. I have set 1.2490 sell orders.
Meanwhile. Keep watching Aussie and TLB together with MACD.
Till next post.