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@  manfloy : (20 September 2017 - 05:56 AM) @traderpusa
@  manfloy : (20 September 2017 - 05:55 AM) tp how is going on sir ?
@  manfloy : (20 September 2017 - 05:44 AM) :D
@  manfloy : (20 September 2017 - 05:43 AM) lets waiting then
@  MTH2014 : (20 September 2017 - 05:36 AM) @manfloy :) EU need to oscillating at 1.2000 waiting for FOMC
@  Tripack : (20 September 2017 - 05:19 AM) gonna lunch
@  Tripack : (20 September 2017 - 05:19 AM) probably just too soon :(
@  manfloy : (20 September 2017 - 05:18 AM) kicked out from the train
@  manfloy : (20 September 2017 - 05:18 AM) https://gyazo.com/e9...01801bc96b5212d
@  Tripack : (20 September 2017 - 05:12 AM) wow you are getting me hungry now, thinking about roasted duck where you need to cut the skin like that :)
@  Tripack : (20 September 2017 - 05:11 AM) nice
@  manfloy : (20 September 2017 - 05:10 AM) <_< turbulence lol
@  MTH2014 : (20 September 2017 - 05:09 AM) have a nice Dax : https://s25.postimg....at_17_08_48.png lol
@  manfloy : (20 September 2017 - 05:05 AM) wow tri congrats :)
@  xplus : (20 September 2017 - 04:48 AM) @mth2014 I will pm u soon.....
@  xplus : (20 September 2017 - 04:47 AM) @mth2014 fine sir, still with binary.com....
@  MTH2014 : (20 September 2017 - 04:45 AM) @xplus How your trading today ?
@  xplus : (20 September 2017 - 04:42 AM) Uncle mth2014...... good day to you sir..
@  Tripack : (20 September 2017 - 04:41 AM) thx :)
@  MTH2014 : (20 September 2017 - 04:41 AM) @Tripack Nice..

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#7921 9alihan

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Posted 15 September 2017 - 10:59 AM

Which one is your EMA21, bro ?

I use 13 and 50



#7922 Bui Xuan Tuan Anh

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Posted 15 September 2017 - 12:31 PM

UNLUCKY.  PINBAR + RESISTANCE + VC=  2 OTM

 

 

Personally, I only take reversal trades when there's a confluence of ALL following conditions:

1. VC alerted.

2. Sign of exhaustion (i.e.: Candles are getting smaller and moving slower...).

3. Sign of reversal (in your trades, shooting star candles are OK).

4. If the signal candle is a pinbar, it should be rejected by some level (a strong S/R is the best choice, but BRNs, RNs, HOD/LOD are OK, too). A pinbar stands in the middle of nowhere doesnt make much sense.

5. Price is far away from EMA (that's why I asked where your EMA21 was, but you didn't use it as Hubba recommended, no problem).

We all know trading reversal is obviously risky. But from what I have noticed so far, if all above-mentioned conditions are satisfied, the probability of a successful reversal trade is never less than 75%. 

Sometimes we wait hours by hours to grab a perfect setup, pull the trigger at the right time, but it still ends as an OTM. It's very normal in this unpredictable game. The right thing to do, in my point of view, is to reduce that kind of loss. Less quantity, more quality  :rolleyes:


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"I have NOT failed. I have just found 10,000 ways that won't work" - Thomas A. Edison

 


#7923 Tripack

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Posted 15 September 2017 - 01:10 PM

kda5ntA.jpg
UNLUCKY. PINBAR + RESISTANCE + VC= 2 OTM

Back for a moment before enjoying the weekend, but I do have a much simpler explanation. I do respect and understand BXTA's explanation here but by looking at things from a simple point of view:

1. You are taking a trade in the middle of nowhere, in the full noise and all, you need to learn to avoid traffic on the left, especially when it's heavy.
2. You draw TL and channel which is a very good habit to have, but not zoomed out enough. What looks like a channel could well be a simple range.
3. You do insist while still traffic on the left taking another trade, always look left before crossing...

I can't comment on VC and all, way too much advanced for me.
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#7924 9alihan

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Posted 16 September 2017 - 02:16 PM

@Tripack & @BXTA thanks for the clarification. I appreciate your help. I opened the chart now and went back to rethink these 2 losses.

I found some explanation for myself.

1. R2 looks good resistance, but there is no room for a move down, as the price rests in R3 and EMA. The first OTM is a bad trade.

2. R1 is a strong resistance. The price almost touched the resistance and jumped off, forming a second pinbar and closed below the two resistances. In this case, we have a good entry point. R3 and Ema are slightly remote and allow the price to exhale down. But this is OTM and this should sometimes happen.

3. And the most important conclusion is not "of nowhere", although it sounds good too. I would rather call it "when." I entered the most non-liquid market. At this time all exchanges are closed and the price does not obey. I stepped on the same rake, which several posts had previously told a man not to step on.

 

This is the market. This is trading. That's life. Sometimes we step on the rake many times until the brains start working..)

 

PAANiJj.jpg


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#7925 Bui Xuan Tuan Anh

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Posted 17 September 2017 - 01:31 AM

Hey mate, there're red and white arrows in your chart. Would you mind telling how they work? They're a part of your own strategy, aren't they?
Thanks and stay green.

"I have NOT failed. I have just found 10,000 ways that won't work" - Thomas A. Edison

 





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