Let's Make 20pips - Simple System

Quoting ooLah

Disliked

SHORT EURUSD...I am seeking to hold this one to the last rejected bearish close on the current swing because the setup has occurred on bar in a fractal structure. {image}

Ignored

Quoting ooLah

Disliked

{quote} closed +22pips, get the feeling price will return to the last bullish close for testing.

Ignored

Quoting diamonddbw

Disliked

{quote} ++++++++++++++++++++++++++++++++ Why? Just when I thought I understood, you put up this trade. On all of your previous pics, you show entry on bar "Following" 2nd rejection. On EU trade, the following bar never reached the close of the subject bar. Please explain. Thanks, Darryl

Ignored

Quoting ooLah

Disliked

{quote} Hi Darryl, Based on the price action, bulls looked to weak to make it back to the bullish close being rejected so I to my entry where bulls were struggling. Also it was a good risk to take because I still had enough room for my 20pip stop to be safe, even with that early entry. Also, entry does not have to IMMEDIATELY FOLLOW the rejection bars. Its your best entry...being the one closest to the rejection level.

Ignored

Quoting diamonddbw

Disliked

{quote} ++++++++++++++++++++++++++++++++ I completely understand your reasoning. However, (imho) you just added a dangerous dimension to a "Rule Based" method... and that is, 'trading what you THINK'. Far too many times, I've had to take losses by letting my opinions pre-empt my strategy. I very rarely give into those urges for these reasons: I'm not following my own rules. I'm now engaging my EGO in a trade, which sounds a 'Death Knell' to my account, and also putting me in a position of thinking "i Know" what will happen. Then, if the trade looses,...

Ignored

Quoting skillz16

Disliked

Are your odds better than 50% win, 50% loss? With this setup, you will need to prove that. With spread and commission, I would guess you will need to be correct at least 55% of the time to see good money but that is really "off the top of my head" number. Say you are "Going for 1R - 1 risk per reward. I think with spreads, the numbers look like this at 50/50%: (50% win * 0.9 reward) + (50% loss *-1 loss) = -0.05 per trade expected. Here is for 53%: (53% win * 0.9 reward) + (47% loss *-1 loss) = 0.007 per trade expected. 55% is 0.045 per trade expected....

Ignored

Quoting ooLah

Disliked

I've set and left another EURUSD short. Risk is 30pips, because its a daily chart setup. Current picture showing today likely to be short day from here onwards. {image}

Ignored

Quoting ooLah

Disliked

SHORT NZDJPY...holding this one, to the last bearish close that was rejected on this swing. Risk is 30 pips as it is a daily chart setup. {image}

Ignored

Quoting ooLah

Disliked

Re-entered EURUSD short. {image}

Ignored

Quoting ooLah

Disliked

Re-entered EURUSD short. {image}

Ignored

Quoting whatfx

Disliked

{quote} you need to be more clearer on your rules. what stop to use on daily, 4 hr, 1 hr , charts etc. how many candles can you wait until the trade is no longer valid etc. also, show some solid results on your live account.

Ignored

Quoting earmarques

Disliked

Yes, very beautiful! Congratulations! I'm trying to understand how to identify the main bar for take the close to do the analisys.

Ignored