Hi all,
what shall I say : started with the usual rent of -10, too early after w3 had diverged in GU M1, but then I fortunately got the w5 with +17 - slowly, slowly...
Noticed, that I loose patience, if I missed one or two good trades as I did this morning. If there are no setups, I have a lot of patience. so need some exercise after missed trades ! TaiJi !
Bettina
Bettina's Journal
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Bettina
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Re: Bettina's Journal
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Herbert
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Re: Bettina's Journal
Bettina. I understand your frustration completely. I have exactly the same problem. I cannot stand to loose a good setup.
NOW, i do not have that problem anymore
The solution? The P5 and P3 structures.
When i see a good move out of a setup, I get exited. Watching the retrace with a w3 and/or w5, drawing my trendlines, i know a high probability setup is coming up. As matter of fact i opened your GU chart and there it is!! P3 with divergence, the works!! (rsi or stoch). EXACTLY where you took your 17 pip trade!!
So, when i see a good move, i look for a P5/P3 with all it's qualifiers. It keeps me out of impatient trades and into high probability trades. Just my thoughts.
It helped me tremendously with said patience problem. AND, as Immy remarked, this may be the solution to find the end of the dreaded w4. I can confirm that, it is the solution. B-)
Regards
Herbert
NOW, i do not have that problem anymore
The solution? The P5 and P3 structures.
When i see a good move out of a setup, I get exited. Watching the retrace with a w3 and/or w5, drawing my trendlines, i know a high probability setup is coming up. As matter of fact i opened your GU chart and there it is!! P3 with divergence, the works!! (rsi or stoch). EXACTLY where you took your 17 pip trade!!
So, when i see a good move, i look for a P5/P3 with all it's qualifiers. It keeps me out of impatient trades and into high probability trades. Just my thoughts.
It helped me tremendously with said patience problem. AND, as Immy remarked, this may be the solution to find the end of the dreaded w4. I can confirm that, it is the solution. B-)
Regards
Herbert
Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
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Bettina
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Re: Bettina's Journal
Hi Herbert,
thx for your nice and encouraing answer. If I get it right, you say : the means against getting angry about missed trades is looking forward to the next one ??
Yes, sounds good, know something like this too.
The trades I were angry about were in the morning at 9:08 and 09:37 GMT+ 2. I was expecting different correction structures and that's why i didn't take them, but especially w2 dowsn't always follow the p5 principle of John (Snorm). There the simple one ZL cross of AO is very often sufficient.
Well, will learn to distinguish!
thx for your nice and encouraing answer. If I get it right, you say : the means against getting angry about missed trades is looking forward to the next one ??
Yes, sounds good, know something like this too.
The trades I were angry about were in the morning at 9:08 and 09:37 GMT+ 2. I was expecting different correction structures and that's why i didn't take them, but especially w2 dowsn't always follow the p5 principle of John (Snorm). There the simple one ZL cross of AO is very often sufficient.
Well, will learn to distinguish!
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Herbert
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Re: Bettina's Journal
We all share out of interest Bettina. If you are like me, i am attentive on structures. I attempt to identify the sub-cycles. As we know a w5+div. = end of leg.
Showing your abc? section, this is my take on it.
abc formed with c close to 100%fe as shown. If price extends beyond c i label it w3, if extending past c WITH divergence i label it w5, now even a w4 visible, probable end of leg once confirmed by TL or other means. Of course, if you are interested in going that detail, AO will not suffice, a faster oscillator required. I show stochastic to highlight divergences here and leg before.
So this reversal with a trendline now becomes another sub-P3 structure. All in line with the ever-increasing/decreasing fractal principle.
The tick chart is next... (rofl) (rofl) (rofl) (It does work)
Of course, all this not needed except if "one need to know"
)
Herbert
Showing your abc? section, this is my take on it.
abc formed with c close to 100%fe as shown. If price extends beyond c i label it w3, if extending past c WITH divergence i label it w5, now even a w4 visible, probable end of leg once confirmed by TL or other means. Of course, if you are interested in going that detail, AO will not suffice, a faster oscillator required. I show stochastic to highlight divergences here and leg before.
So this reversal with a trendline now becomes another sub-P3 structure. All in line with the ever-increasing/decreasing fractal principle.
The tick chart is next... (rofl) (rofl) (rofl) (It does work)
Of course, all this not needed except if "one need to know"
) Herbert
You do not have the required permissions to view the files attached to this post.
Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
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Bettina
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Re: Bettina's Journal
Hi Herbert,
yes, I need to know !!! But I don't need a tick chart
Since I'm always too early, I simply thouhgt, that is not typical, still wait and then... but you know
Nice talk !
Bettina
yes, I need to know !!! But I don't need a tick chart
Since I'm always too early, I simply thouhgt, that is not typical, still wait and then... but you know
Nice talk !
Bettina
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Bettina
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Re: Bettina's Journal
Collected some more pips ( + 11,8 ) on EU in W5 of W5.
So today is
-9.8
+17.3
+1.7
+11.8
which sums up to +21 or 1,84 %.
Should stop now, but it's raining very heavily, so I can't throw myself into my earth ( I'm rearranging my two compost heaps ) - or would it be healthy to earth myself ?
Bettina
So today is
-9.8
+17.3
+1.7
+11.8
which sums up to +21 or 1,84 %.
Should stop now, but it's raining very heavily, so I can't throw myself into my earth ( I'm rearranging my two compost heaps ) - or would it be healthy to earth myself ?
Bettina
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msk185
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Re: Bettina's Journal
Nicely traded, I entered a little later but exited around the same level
Well done
Well done
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immy
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Re: Bettina's Journal
Bettina wrote:Collected some more pips ( + 11,8 ) on EU in W5 of W5.
So today is
-9.8
+17.3
+1.7
+11.8
which sums up to +21 or 1,84 %.
Should stop now, but it's raining very heavily, so I can't throw myself into my earth ( I'm rearranging my two compost heaps ) - or would it be healthy to earth myself ?
Bettina
Bettina
You are becoming my favourite slowly and gradually. I will have to dump Richard and Herbert soon!
And why not Earth yourself.... just don't soak yourself while getting Earth!
I am yet to read this very nice book on Earthing by Clinton Ober, waiting in Kindle to be read....
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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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Bettina's Journal
and its raining cats and dogs here now.... damn 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!
-
insc59
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Re: Bettina's Journal
Hello Bettina,
Repeating myself but your results have really started to improve - a great day for you it just shows that sometimes just a little fine tuning like you have changed your pairs suits you - Well done!
Ian
Repeating myself but your results have really started to improve - a great day for you it just shows that sometimes just a little fine tuning like you have changed your pairs suits you - Well done!
Ian