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2 reason its a DS0 .. one its NOT setup 1... 2, this pair just cannot be traded on M5. AUD/CHF heavens no.. .not even h1.
cheers
Hi iMi. Could I get clarification on this one as well. I'm unsure of why this is not a Setup 0. Am I missing something?
Also, is there a reason why you say this pair can't be traded on H1 and lower? If the volume and volatility is there, could you trade any pair, as long as the spreads are not too wide?
Thanks.
Kevin
AUDCHF 2018.03.19 M51522 PO.PNG
Its not a setup 1 and why its not is explained in the Setup videos. If you need further help talk to me in Skype. also check the video section there are lost of examples. AUD/CHF has a daily range of 50 pips... that makes the spread to range ratio pretty unhealthy. You ned something that moves at least 100 pips a day and spread of below 2 (if commission based then spread must always be below 1 pip)
Hence we say STICK TO MAJORS ... if you're trading the m5 time frame , and we don'#t trade price, we are not "price action is king" guys... (BS) we trade patterns. And patterns change on time frames so we stick the time frame. from that point of view, one cannot trade more than 3 pairs (at expert levels) on m5 time frame. If you're doing your first T20 and seem to monitoring 20 pairs, that will lead to you leaving the group in 3 weeks time.
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.
2 reason its a DS0 .. one its NOT setup 1... 2, this pair just cannot be traded on M5. AUD/CHF heavens no.. .not even h1.
cheers
Hi iMi. Could I get clarification on this one as well. I'm unsure of why this is not a Setup 0. Am I missing something?
Also, is there a reason why you say this pair can't be traded on H1 and lower? If the volume and volatility is there, could you trade any pair, as long as the spreads are not too wide?
Thanks.
Kevin
AUDCHF 2018.03.19 M51522 PO.PNG
Its not a setup 1 and why its not is explained in the Setup videos. If you need further help talk to me in Skype. also check the video section there are lost of examples. AUD/CHF has a daily range of 50 pips... that makes the spread to range ratio pretty unhealthy. You ned something that moves at least 100 pips a day and spread of below 2 (if commission based then spread must always be below 1 pip)
Hence we say STICK TO MAJORS ... if you're trading the m5 time frame , and we don'#t trade price, we are not "price action is king" guys... (BS) we trade patterns. And patterns change on time frames so we stick the time frame. from that point of view, one cannot trade more than 3 pairs (at expert levels) on m5 time frame. If you're doing your first T20 and seem to monitoring 20 pairs, that will lead to you leaving the group in 3 weeks time.
I didn't realize that I was only supposed to take Setup 1's. There is no clear direction for new members, other than a tab to say new members start here.
So just to clarify, I should be logging 5 batches of 20 trades, using only setup 1, on only 3 major pairs on the M5 charts?
I will try to contact you on Skype when I log on tonight for London Open.
Thanks.
Kevin
That's why we have skype and now Slack ... Clear direction has very unclear meanings for different people. When we design a set pathway we get complaints its too strict, when we leave it open, we get complaints there is no clear pathway. So we stopped doing either... We do it the hard way. We want you to come and have a chat with us on skype I'm sure you have clarity now after our group chat?
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.
immy wrote: 21 Mar 2018, 11:01
That's why we have skype and now Slack ... Clear direction has very unclear meanings for different people. When we design a set pathway we get complaints its too strict, when we leave it open, we get complaints there is no clear pathway. So we stopped doing either... We do it the hard way. We want you to come and have a chat with us on skype I'm sure you have clarity now after our group chat?
Hi iMi.
Yes, I definitely have a clear path forward. I will start from the beginning. Batch 1. Thanks.
Kevin
Let me make it easy for you. Trade USD/JPY GBP/USD and EUR/USD ONLY repeat ONLY ... If you get setups during your time, fine, if you don't , you dont trade. That is TRADING... Repeat 3 pairs, on m5 are MORE THAN ANYONE need... Hope this message gets across...
More over, Trade Only Good Setup 1's. It would help if you moved to M15 instead of M5. Then you could have 4 pairs , add USD/CAD or AUD/USD whichever you like .4 pairs. that way you will be able to Switch to H1, and take ONLY the Setup 1's when H1 h as an open gator... or if you love M5, then you need to do that with M30 chart... so you see a setup 1 on m1, swtich quickly to M30 and see if the Gator is open...
now do this for the trades above see what you see... lets talk about it more later
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.
and now Slack ... Clear direction has very unclear meanings for different people. When we design a set pathway we get complaints its too strict, when we leave it open, we get complaints there is no clear pathway. So we stopped doing either... We do it the hard way. We want you to come and have a chat with us on skype