heavenskrow...it seems you have good entries...search Andersen Bands here in ET...they could benefit you and they seem they "fit" the way you trade. Not for me though. ES
Relax man; your entries are phenomenal! In fact they are very early... So give the 15 and 60 min. traders some time to join you! Seriously: switch to these TF's after entry and see how the price action unfolds for them. Track how much price moves against you on average and set your stoploss. With these R/R ratio's you're sitting on a pot of gold!
Trading is not an easy job and it is difficult for 95% of the people who try to invest on the Forex market. Only 2-3% people find it easy as they do home work before try any thing practically on the market. Stay safe, work hard, and believe in your knowledge!
It’s not hard. It’s just a another tool serving a different purpose. There isn’t any good literature about trading order flow & footprint available but pieces of information could be gathered & pierced together. However if you want to use it well, you will have to spend time to practice the DOM & this is the killer for those lazy bees. I recommend to search for DOM drills & practice it till it's easy for you to trade w/o using any chart. Have some software (I use OBS) to record everything you do & replay the practice & market action. Then (hopefully) you will see how footprints pierced everything together. I'm pretty sure it will answer the question you've at that instant instead scratching your head later.
You are looking for absolutes in a discipline with none. Also be aware of context, 9 am pt is 12 pm est. All this on a summer Wednesday with no particular catalyst and you would expect the market to lumber around for an hour. There are dozens of contexts to be aware of, earnings, holiday's, major economic releases, fed action, time of day, day of week etc. It takes trading through an entire cycle to develop and acute awareness of context. We are presently going into a holiday week, I expect volume and volatility to diminish through next week and perhaps become range bound. It's said that the second mouse gets the cheese. I often define my entries, position size and risk on if I am the first mouse or second mouse acting on an inflection point and going for the cheese. Lot's of solid advice on this thread. Good trading dude!
You need to put the stop loss sl above the previous high somehow upto 100 points. I think it is the most common phenomenon of the trading which every trader need to learn before executing any trade. Keep it in mind next time! Best of luck as well!
i know no one can buy the bottom and sell the top...and yet all the vendors say they will show you how to put tight stops
you are doing everything right.....you are far more intelligent than the crowd...that is why you have to wait,,,,because eevry trader is buying the dips they do not know what you know,YOU do not know what you know
after the impulse move comes chop and then again impulse......recognise impulse watch the chop and judge the next impulse.is the market getting stronger or weaker i wonder how and what experienced traders write pages and pages about market action-Brooks has written 4 books some charge 500 usd James charges 50000 usd to teach what? that the market impulse moves and chops! it just distracts everyone from the market cycle