@TheJube , i know, open wasn't perfect, your tips are good. Second example is more precise.
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DislikedMy first step in this method. I think, that open position was can be better(first white directional candle after 3 red)Ignored
DislikedI adapted the system to my knowledge. But I thought everything was okay.Ignored
DislikedI am quite experienced, and I think like you, a few months or hundreds of transactions is the absolute minimum to think about making money.Ignored
DislikedI will be grateful if you refer me to the full system manual. always 10pips.Ignored
DislikedSo far this is trading demo account, so SL i have in my mind TP constans always 10pips.Ignored
Disliked@vidvad thank you for your attencion. I adapted the system to my knowledge. But I thought everything was okay. I haven't read the main thread, too much of it, but I've read your entire thread. I am quite experienced, and I think like you, a few months or hundreds of transactions is the absolute minimum to think about making money. I will be grateful if you refer me to the full system manual. So far this is trading demo account, so SL i have in my mind TP constans always 10pips. {image} {image}Ignored
Disliked{quote} As I said last week, I am on vacation this week. I am not taking trades, but I am trying to keep up with the markets and continue my own learning. I don't have time now as the family is finally up and awake and ready to go to the beach. But I did want to share this chart now and later today I will post a bit more about it: I do use the pivotal points as areas where I will trade even if the ema bands are NOT yet set up vis a vis price in a traditional rocky template swet up. Today, price paused at the OPEN and at YESTERDAY's HIGH. One would...Ignored
Disliked{quote} I do use the pivotal points as areas where I will trade even if the ema bands are NOT yet set up vis a vis price in a traditional rocky template swet up. Today, price paused at the OPEN and at YESTERDAY's HIGH. One would have been a short entry, the other would have been a long continuation entry. The price action of the renko HA is very clear to me. Is it clear to you too? This is most definitely worth studying and taking a screen pic or printing it out for your journal. Everyone should keep a personal trading journal, imo. {image}Ignored
DislikedWhen I am executing this system close to flawlessly, I expect to win 60% of my trades. With a 60% win rate, over the long term, defined as 1000 trades or more, you will have 100% odds of experiencing 5 losing trades in a row at some point during that 1000 trades. You have 98% odds of 6 losing trades in a row at some point, and an 81% chance of seven losing trades in a row. As Mark DOuglas once said, "I've met very few traders who after 3 losing trades in a row don't have a problem taking the next trade." And this is one reason so many of us fail...Ignored
Disliked{quote} I don't agree at all and if you're going to issue such "friendly" warnings you should include at least an example or two.Ignored
DislikedGBPJPY and EURUSD today. I see and confirm that acting in important places is easier. I'm just waiting to see what the price shows me. With these candles and the price structure, I am able to determine the likely momentum. After all, I made 11 trades today,overall profit, but a few trades was unnecessary. I understand your caution and discipline @Vidvad, playing two trades gives us relative peace of mind. It protects us from gambling, but maybe it also takes an extra chance? I have to set my rules ,I don't want to be a slave to the...Ignored
DislikedEntry for me would have been buy stop at 1.09235, and the profit target 1.0936. Stop loss I would have placed at 1.0919, which is one tick below the open of the bear pin bar and the open of that bull breakout candle on the M15. This is one of those cases where the ema's do not matter at all. All that matters is price action and price NOT closing below those two pivotal points. As I am typing this price has reached 1.0933, just one tick short of 10 pips. I would move my stop loss here to -1 tick, 1.0923.Ignored