I thought I'll record this thought here.
Immy: Here is a tip to avoid a mistake that traders often make when looking at Higher Time frames for trend. If the higher time frame e..g H1 is stuck within a tight range, that means, you have no direction so if you trade on m5, you will have to trade solely on the signals provided by m1 or m5. though it is generally a better idea to trade only when the higher time frame gives you a direction. or completely ignore m15 and above for M1, or H1 and above for m5. or D1 and above for H1. e.g. you see a lovely wave 3 down on EU that lasted 2 days, and then price went into a 4th wave, sideways. you're on m5 and you're thinking H1 is showing down trend. WRONG. its showing Sideways. it will show Down trend ONLY when its showing Wave 5 down again. This is very important. 8:38
Immy: many people make this mistake, they look at previous wave 3 and think trend is down. so they drop to m5 and start trading down while H1 is in Wave 4. In such situations H1 may have possible down trend, but that depends, if wave 4 sets up and then breaks out into wave 5. if you drop to m5 while there is no indication of wave 5 starting on h1, you traded what we call trading under the umbrella of Wave 4
and a Nice POST NEWS SETUP FOLLOWS NEXT POST
Immy's Corner [The Setup The Hunt - T20's and more]
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immy
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Don't do this mistake - Get your waves right!
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
NEWS AND POST NEWS SETUP TODAY
EU M1 TODAY POST NEWS SETUP
THANKS DAVE AND WELLDONE ON YOUR FANTASTIC OVER 20PIPS CATCH ON EURJPY
THANKS DAVE AND WELLDONE ON YOUR FANTASTIC OVER 20PIPS CATCH ON EURJPY
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
A lesson on How to Trade M1/M5 EU
Took a break of 30 minuts, nice breakfast thanks to Wife! enjoyed it.
Went back to trading room. Found this. I asked a question from myself, and shared in the chatroom too (I ask such questions all the time, thats how I trade)
This is how m5 may have appeared on our screens when I asked the question above.
And now it looks like this... Very nice indeed. The power of The Setup!
Went back to trading room. Found this. I asked a question from myself, and shared in the chatroom too (I ask such questions all the time, thats how I trade)
This is how m5 may have appeared on our screens when I asked the question above.
And now it looks like this... Very nice indeed. The power of The Setup!
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: A lesson on How to Trade M1/M5 EU
The End! 6pips.immy wrote:Took a break of 30 minuts, nice breakfast thanks to Wife! enjoyed it.
Went back to trading room. Found this. I asked a question from myself, and shared in the chatroom too (I ask such questions all the time, thats how I trade)
This is how m5 may have appeared on our screens when I asked the question above.
And now it looks like this... Very nice indeed. The power of The Setup!
THE STEPPING PATTERN
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: Immy's Journal - Setup 1, Setup 2 and some other stuff!
EUR/JPY
It was a matter of taking the trade on the right time. Today my timing has been fantastic.
M5 Picture
A small punt but worth it!
It was a matter of taking the trade on the right time. Today my timing has been fantastic.
M5 Picture
A small punt but worth it!
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: Immy's Journal - Setup 1, Setup 2 and some other stuff!
immy wrote:EUR/JPY
It was a matter of taking the trade on the right time. Today my timing has been fantastic.
M5 Picture
A small punt but worth it!
A took the exit signal as mentioned above.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: Immy's Journal - Setup 1, Setup 2 and some other stuff!
Peter you asked a question about UCAD!
It appears that on this occasion my analysis was right.
It appears that on this occasion my analysis was right.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
Michal
- Free Member
- Posts: 762
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Re: Immy's Journal - Setup 1, Setup 2 and some other stuff!
very nice trades Immy 
but you know it ) so I'd like to thank you for analysis on h1
but you know it ) so I'd like to thank you for analysis on h1 All I need is Aims. Just love it !
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: Immy's Journal - Setup 1, Setup 2 and some other stuff!
USD/JPY...
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: Immy's Journal - Setup 1, Setup 2 and some other stuff!
EU S1 Setup. This is the setup we wait for. It really does not matter if this particular one makes money or losses. We know that in the long run trading such setups will keep us on the right side of the market. Growing account in steady manner.
pssst: though I think I should have chosen the m5 levels. since M5 was sleeping. oh well.
pssst: though I think I should have chosen the m5 levels. since M5 was sleeping. oh well.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!