Last trade with EU.
Stepping pattern is becoming a part of my system!
Nikita`s journal
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Nikita
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Re: Nikita`s journal
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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immy
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Re: Nikita`s journal
STICK THE RULES!Nikita wrote:Last trade with EU.
Stepping pattern is becoming a part of my system!
[-xWhat 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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Dave
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Re: Nikita`s journal
Make sure you don't let these stepping patterns completely take over from trading the setup. The stepping is a way of making sure you're identifying the first break after a corrective wave within a higher timeframe trend, but just as every dot isn't a trade, every few stepping levels also isn't a signal. All just my opinion, but this box pattern is just to time entries correctly when the setup is there.
Edit: It's always best to illustrate with a picture, so here we go. This is the exact time in the market where you shorted the EU, so M5 has created the nice stepping down box pattern, M5 eWave momentum is down, and now price has pulled back so it's a good time to drop to M1 to time the short entry on the first break after the stepping corrective wave. I like it! (but that's only my opinion
)
What may keep you away from an entry like this though is the big M5 W3, as it might be considered you're trading against the trend. (I've also marked a nice spot on the M5 chart where an M1 entry would have been lovely! Break up, pullback, bang bang!)
Edit: It's always best to illustrate with a picture, so here we go. This is the exact time in the market where you shorted the EU, so M5 has created the nice stepping down box pattern, M5 eWave momentum is down, and now price has pulled back so it's a good time to drop to M1 to time the short entry on the first break after the stepping corrective wave. I like it! (but that's only my opinion
)What may keep you away from an entry like this though is the big M5 W3, as it might be considered you're trading against the trend. (I've also marked a nice spot on the M5 chart where an M1 entry would have been lovely! Break up, pullback, bang bang!)
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Now, I choose to make a profit in trading.
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Nikita
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Re: Nikita`s journal
Hello everyone!
hope, you enjoyed your weekend!
Today pre LO short session.
hope, you enjoyed your weekend!
Today pre LO short session.
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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immy
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Re: Nikita`s journal
Dave, I thank you for your post and explanation. Makes it so much easier to understand. Although there is nothing mega to add I'd like to say this. AS long as we are on the right side of Purple we will be following the rules of the system and be profitable in the run. With time we all learn that not all trades above or below purple are higher probability setups i.e. "breakout in the direction of higher time frame trends". but at certain times, it makes more sense to go counter trend. But counter trend is to be left to later. First we need to perfect our "trend following" entries.Dave wrote:Make sure you don't let these stepping patterns completely take over from trading the setup. The stepping is a way of making sure you're identifying the first break after a corrective wave within a higher timeframe trend, but just as every dot isn't a trade, every few stepping levels also isn't a signal. All just my opinion, but this box pattern is just to time entries correctly when the setup is there.
Edit: It's always best to illustrate with a picture, so here we go. This is the exact time in the market where you shorted the EU, so M5 has created the nice stepping down box pattern, M5 eWave momentum is down, and now price has pulled back so it's a good time to drop to M1 to time the short entry on the first break after the stepping corrective wave. I like it! (but that's only my opinion
What may keep you away from an entry like this though is the big M5 W3, as it might be considered you're trading against the trend. (I've also marked a nice spot on the M5 chart where an M1 entry would have been lovely! Break up, pullback, bang bang!)
cheers
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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Nikita
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Re: Nikita`s journal
NYO.
Only one trade (missed a few stepping pattern + setup opportunities). Feel it s enough for me for today.
Only one trade (missed a few stepping pattern + setup opportunities). Feel it s enough for me for today.
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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Nikita
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Re: Nikita`s journal
Pre LO trade.
It s becoming usual for price to change it direction after FO.
Not hte best add-on.
It s becoming usual for price to change it direction after FO.
Not hte best add-on.
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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Nikita
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Re: Nikita`s journal
Today i made a few mistakes within London session.
then i was patiently waited for news. I was sure that market will give me nice setups.
And it happened.(not HPS, but news were so obvious so i took them).
But i was in such state of mind, when everything inside me was shouting "TAKE THIS MONEY AND GET OUT"...
It was easy to determine that im not in right state of mind to trade further.
So i really close all my position and solve to relax.
I think it is one of the most important part of trading - determine if you are possible to trade further with clear head and sleeping heart.
If not - you d better to stay away from market.
Cheers!
then i was patiently waited for news. I was sure that market will give me nice setups.
And it happened.(not HPS, but news were so obvious so i took them).
But i was in such state of mind, when everything inside me was shouting "TAKE THIS MONEY AND GET OUT"...
It was easy to determine that im not in right state of mind to trade further.
So i really close all my position and solve to relax.
I think it is one of the most important part of trading - determine if you are possible to trade further with clear head and sleeping heart.
If not - you d better to stay away from market.
Cheers!
Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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Nikita
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Re: Nikita`s journal
Good morning, guys.
Today LO trades. 1 winner, 1 tiny rent. First fractal on m1 after down stepping pattern. Next!
Today LO trades. 1 winner, 1 tiny rent. First fractal on m1 after down stepping pattern. Next!
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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Nikita
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- Joined: 19 Dec 2013, 15:04
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Re: Nikita`s journal
NYO.
1 rent on EU. If immy will post his EU trade - my was long at the same conditions
And GU was a winner.
1 rent on EU. If immy will post his EU trade - my was long at the same conditions
And GU was a winner.
You do not have the required permissions to view the files attached to this post.
Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy