Why Is The Obvious Not So Obvious?

Discussion in 'Risk Management' started by nysestocks, Jan 25, 2009.

  1. Onra

    Onra

    I can't see the connection with volume... o_O
    It seems that a close below (+ followthrough) to the downside is important.

    Is your reference line for both bulls and bears?
     
    #6681     Nov 29, 2020
  2. M4-1

    M4-1

    what sticks out when you look at the volume..a close below or a close above can be important..but it depends where that close actually is in relation to how you are using the chart to make trading decisions !

    take a step back..when you trade..what do you use to determine when you will enter a trade..and when you will exit a trade..this is very basic stuff..if you are not entirely sure..or if it changes..then how can consistent results be achieved..as you are not being consistent !!

    we don't care about bulls and bears..we only care about price !!!
     
    #6682     Nov 29, 2020
    Onra likes this.
  3. M4-1

    M4-1

    here is something that might be of interest..post the chart of your last losing trade..and your last winning trade..no need to post anything to do with your account..as that is personal..just a plain old chart.. showing the timeframe you used..where exactly you entered..the time..where exactly you exited..again the time..whatever market you traded..if you have ES or MES great..but if not whatever you traded..ok?
     
    #6683     Nov 29, 2020
    Onra likes this.
  4. Onra

    Onra

    Maybe someone else can step in also, because I might not have the right approach.

    I try to calculate important levels and set limit orders with a very small stop.
    PA can be deceiving, so I try to just leave the trade alone.
    I paused live trading, because my levels are still all over the place!!:banghead: :D

    I appreciate your help, so I post two trades I would have taken.
    Red line: entry; black line exit.

    In the losing trade, I would have been stopped out. Maybe I would have entered twice.
    Being unsure about the direction, I might have even gone short after the long failed...

    The winner was spot on, I would have set a fixed target of 40 pips (and a SL of 5)
    While this seems great, there are more examples of misses, chops and stop-outs than winners...

    Loser.png Winner.png
     
    Last edited: Nov 30, 2020
    #6684     Nov 30, 2020
  5. M4-1

    M4-1

    something to think about before we talk about your chart..if i was trading the EUR.USD then this is the first chart i would look at

    Screenshot_2020-11-30-10-09-06-232_atws.app.png
     
    #6685     Nov 30, 2020
    Onra likes this.
  6. M4-1

    M4-1

    more thinking..a trade is setting up as the sides are currently slashing at each other with swords..it appears you are not thinking correctly in relation to when you should trade..and how much you are willing to risk..to make a possible amount !

    Screenshot_2020-11-30-10-21-24-931_atws.app.png
     
    #6686     Nov 30, 2020
    Onra likes this.
  7. Onra

    Onra

    The When is certainly a mystery to me.
    I hope you'll show us a trade!
     
    #6687     Nov 30, 2020
  8. M4-1

    M4-1

    most important..get yourself the right tools if you are going to risk some money..leaving a trade and wishing/hoping is for people who will lose..if you want to make some money it will require time and effort..no shortcuts in this game of chance!

    Screenshot_2020-11-30-10-29-58-353_net.metaquotes.metatrader5.png
     
    #6688     Nov 30, 2020
  9. M4-1

    M4-1

    and make sure you have control no matter where you are..even if that means you are in the middle of wiping your arse :)

    Screenshot_2020-11-30-10-38-49-208_net.metaquotes.metatrader5.png
     
    #6689     Nov 30, 2020
  10. Onra

    Onra

    You've got the look and feel of MrScalper...
    Very interesting, thanks!
     
    #6690     Nov 30, 2020