Pedro's Journal !
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acceleratum
- Posts: 597
- Joined: 03 Nov 2015, 14:38
- 9
Re: Pedro's Journal !
Setup I took on daily by mistake, then I lowered to h1 and started trailing box so it looks weird.
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Pedro's Journal !
Was that after watching my video? hehe
You it took a while to understand but time frames are just time frames... price is always the same at the right edge of hte chart no matter what time frame ? makes sense?
and when you trade an Hourly charts box high which is near or exactly the same as the d1 box high? what chart are you trading really? ... then it all comes down to how you want to manage that "business" transaction in terms of TIME. Do you want to cash in after a few minutes? a few hours , a few days or a weeks and months?
You it took a while to understand but time frames are just time frames... price is always the same at the right edge of hte chart no matter what time frame ? makes sense?
and when you trade an Hourly charts box high which is near or exactly the same as the d1 box high? what chart are you trading really? ... then it all comes down to how you want to manage that "business" transaction in terms of TIME. Do you want to cash in after a few minutes? a few hours , a few days or a weeks and months?
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!
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acceleratum
- Posts: 597
- Joined: 03 Nov 2015, 14:38
- 9
Re: Pedro's Journal !
I dont really care much for timeframe, since If i see the setup I know I can take, just have to adjust the time management, in this daily I should let it go for couple days but I closed it for small profit before weekend, the problem is the plan and how to fit different timeframes into it, I can just make= take setups whatever you see them.. but that wont provide consistency and might be a mess..
Im trying to focus on h1, daily famous bars traded on h1 and h1 famous setup traded on m15.. so its all around h1.. but ill adust as necessary to wathever feels confortable while maintaining order and discipline, meanwhile I do try different stuff to expand my horizons always thinking it is just experience gained and the goal is to achieve the consistent boring repetitive method that can be easily done with my time available but until then, lots to learn.
And all your feedback is always apreciated!
Im trying to focus on h1, daily famous bars traded on h1 and h1 famous setup traded on m15.. so its all around h1.. but ill adust as necessary to wathever feels confortable while maintaining order and discipline, meanwhile I do try different stuff to expand my horizons always thinking it is just experience gained and the goal is to achieve the consistent boring repetitive method that can be easily done with my time available but until then, lots to learn.
And all your feedback is always apreciated!
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acceleratum
- Posts: 597
- Joined: 03 Nov 2015, 14:38
- 9
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Pedro's Journal !
so you caught that wave 5 eventually... well done mate
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!
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acceleratum
- Posts: 597
- Joined: 03 Nov 2015, 14:38
- 9
-
acceleratum
- Posts: 597
- Joined: 03 Nov 2015, 14:38
- 9
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Pedro's Journal !
yes, doesn't always work, but if you look at charts today, that wave 5 actually did happen, just not friendly to our trade management plan. thats ok... plenty more to come...acceleratum wrote:Trying to catch Wave5 not always works =)
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!
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acceleratum
- Posts: 597
- Joined: 03 Nov 2015, 14:38
- 9
Re: Pedro's Journal !
yeah, could leave the SL unchanged and eventually catch it but didnt felt a perfect one, so better safe than sorry.