euro trash trade. long h and s in euro session. exit door top of euro session or the 4.2 dark zone fib. extension. new " long and wrong " pending breakout guyzs filled in the dark zone and ny session open. short trade off the right shoulder th the final exit door at the 5.7 cahuna low of the ny session. score card..... new long pendings filled and blown. zip. shorts to the 5.2 +1 cheers, s
aussie smuck short trade. 3 sisters, fully diverged, h and s short. exit door at the 4.2 / shop adx tomb stone paint. cheers, s
cad buck long db low of session euro box retest in ny. exit door at the 4.2 high of the ny session. triplets top and the retrace back thru the shop 729 cheers, s ( new short pendings filled at the ny db and blown........)
There are many ways to make money; the way CF makes money is to trade on the same side the market is trading more often than not, based on the statistical probability that "if A happens, then B happens" more often than not. If CF told you that the probability of his setups hitting his minimum profit target before hitting his stop is 60% and his stop is always equal to or less than his minimum profit target, would it convince anyone here to start trading exactly the way he demonstrates in the nice illustrations of setups that he's been providing?
It depends on what you consider to be failure. For me, confirmed reversals fail to the stage of taking full loss not so often, at least not often enough to make trading them negative expectation game. And as long as it has positive expectation (makes money in other words), I don't care if some result in small losses.
Exactly, NoD! All we need as traders is have our trades make money over time. Some entries may have 60% hit rate, some may even have 30% hit rate (though, I prefer the higher probability signals ), but as long as profits cover losses and put something on top, business is going well.
Like I said, most traders wouldn't know a trend reversal if it jumped out and smacked them up the side of the head with a 4 by 4. But if you miss it, one sure sign you are on the wrong side of the trend is when you get 2 great reversal signals fail. If ya need more than that to catch yerself on you are gonna be dinner for the big guys. Yip, makes me wonder.
Yes, very true. If you try 2 times and it keeps stopping you out, chances are high you are trying to trade against the creeper and it's better wait or even go with the trend.
Another good demonstration of a failed 123 reversal turned into OK continuation trade. http://www.cornixforex.com/2012/02/another-failed-reversal-turned-into-ok-continuation/
Some titbits on what to do immediately after entering 123 reversal pattern and when it behaves not perfectly. http://www.cornixforex.com/2012/02/how-to-deal-with-tricky-123-reversals/