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Day Trading 101

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This topic contains 442 replies, has 32 voices, and was last updated by  Lucky Mametja 55 minutes ago.

Viewing 20 posts - 361 through 380 (of 443 total)
  • Author
    Posts
  • #60484

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 281

    3 pips might be enough for an alligator hamburger πŸ™‚

    #60485

    No Name
    Spectator
    • Topics: 0
    • Replies: 54

    3 pips might be enough for an alligator hamburger :)

    πŸ˜€

    #60491

    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Hi Raj,

    I am missing something here. I took many trades and i lost almost everything. i read through your recent example and i wanted to make sure about the setup.

    AUDCHF – 1 hr candle crossed, MA crossed
    AUDCHF – 4 hour – canndle passing through MA but MA not crossed yet.

    Should i take this trade in AUDCHF or I should wait for the MA’s to be crossed in 4 hour also?

    Aariff

    #60493

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Aariff, If you are trading 1HR chart, then parent is 4HR….4Hr MA’s are still down and price is in ribbon resistance…..no trade yet. Wait for 4hr to turn.

    Cheers.

    #60494

    Peter Harris
    Spectator
    • Topics: 0
    • Replies: 2

    Hi Raj
    Just finished reading all your posts on the system and it looks great. I’ve been trading for just over 12 months now with too strong setups which has created profit but the wait for trades is a killer!.
    Will start looking for 15min signals under the 1hr ribbon tomorrow and post some results as they come in.
    Thanks for sharing what looks like a great system.
    Rgds
    Pete

    #60495

    Adz B
    Spectator
    • Topics: 0
    • Replies: 43

    You know we need to keep Keith with enough pocket change for hamburgers, and maybe a coffee! Hi Keith :)

    Ok if you guys really want something to laugh at, how about this one – it must qualify as trade of the day!!! :) :)

    Having had to spend the morning outside clearing the 20cm overnight snowstorm in -15degs including the hump of snow left by the snowplough across the end of drive, I came in to see I had missed most of the 60+ pip move on EURUSD. Both logic and reason disappeared as I thumped the buy button in frustration, determined to get at least something out of this move. But then the wisdom born in my early years from regularly buying the highs of the day ( :) ) told me to get sensible and take the 3.6 pips that had instantly already appeared there and be happy. So there it is, the top 3.6 pips of the move (well I did actually miss the very last pip) and honour restored! :) The market did actually return to these levels a few hours later – but that is another story……….

    hahaha Amazing! I’m finding it frustrating this week due to work being busy I’m not getting chance to check the charts and missing loads of great moves! Glad its not -15 here though!!

    #60496

    Adz B
    Spectator
    • Topics: 0
    • Replies: 43

    Here I declare this to be the best thread on LuckScout!!

    #60497

    No Name
    Spectator
    • Topics: 0
    • Replies: 54

    hahaha Amazing! I’m finding it frustrating this week due to work being busy I’m not getting chance to check the charts and missing loads of great moves! Glad its not -15 here though!!

    I know what you mean – its really frustrating, but have to remember work comes first!!! (at least for now! πŸ™‚ )

    Yes, those 3.6 pips were welcome – of course I forgot to mention that the position size was 10 million lots πŸ™‚ πŸ™‚ (if only!!)

    #60498

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Peter- looking forward to hearing from you!

    Aariff – let me clarify again, if the higher time frame is not in agreement, it doesn’t necessarily mean you can’t take the trade. It just means that those trades carry added risk.

    Cheers

    #60499

    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    10 million lot??? your broker should be rich by now πŸ™‚

    Aariff

    hahaha Amazing! I’m finding it frustrating this week due to work being busy I’m not getting chance to check the charts and missing loads of great moves! Glad its not -15 here though!!

    I know what you mean – its really frustrating, but have to remember work comes first!!! (at least for now! :) )

    Yes, those 3.6 pips were welcome – of course I forgot to mention that the position size was 10 million lots :) :) (if only!!)

    #60500

    No Name
    Spectator
    • Topics: 0
    • Replies: 54

    10 million lot??? your broker should be rich by now :-)

    Aariff

    That’s the way it normally ends up, yes! πŸ™‚ How have you been doing now?

    #60502

    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Keith,

    I am doing very bad in Trading(demo) but good in life. I will wait for some more examples from Raj today to improve myself.

    Raj,

    Consider i am seeing a setup in 15 minute chart, i am checking the parent 1 hour chart and MA’s has not crossed yet. I am not making any entry. By the time, the MA’s cross in 1hour, 15 minutes is past the signal and it is very late to enter. The example i quoted for AUDCHF is same. signal spotted in 1hr and verified 4 hr and later 4 hr crossed and signal never appeared in 1 Hr.

    I believe the trend change will impact soon on lower timeframe and by the time we notice the same in higher timeframe, we are loosing the trade.

    I am frustated because almost all are failing. i am not sure what i am missing.

    Aariff

    10 million lot??? your broker should be rich by now :-)

    Aariff

    That’s the way it normally ends up, yes! :) How have you been doing now?

    #60503

    basharat Javed
    Spectator
    • Topics: 0
    • Replies: 10

    Thanks for great help raj , now i got the missing points , but one thing is confusing me plz clarify if i get buy signal on 15M chart and candles are above the ribbon on 1 H chart but overall trend is downward on 1H chart,should i take this trade setup?

    #60504

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Hi Aariff, So if the higher time frame finally changes, then what you should do is look for a pullback on the lower time frame, then trade the next crossing on the lower time frame.

    If you entered the market after that 1hr candle, after six hours you would be in a loss at the moment. What’s better – not to be in that trade yet, or worrying about the loss?

    Hope this helps.

    Cheers.

    #60506

    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Hi Aariff, So if the higher time frame finally changes, then what you should do is look for a pullback on the lower time frame, then trade the next crossing on the lower time frame.

    Basically, If i am trading in 15 min or 30 min chart with a signal, the price value or candle should be above the ribbon in 1 hour candle? Am i correct?

    Aariff

    #60508

    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Can you post some examples from today’s trade.

    Aariff

    #60509

    Adz B
    Spectator
    • Topics: 0
    • Replies: 43

    Hi Aariff, So if the higher time frame finally changes, then what you should do is look for a pullback on the lower time frame, then trade the next crossing on the lower time frame.

    Basically, If i am trading in 15 min or 30 min chart with a signal, the price value or candle should be above the ribbon in 1 hour candle? Am i correct?

    Aariff

    Dude I think you are thinking into this more than you need to be.

    If you watch the 15m or 30m charts and you see a signal. Check the next time frame up and the direction and candle formations, check the next time frame up and the same. If you are about to short and the general direction of the pair is in a down trend in the parent time frames then you have more confirmation to take the 15m signal. The same principles are applied to a long position and the days market being in a general uptrend. These are safer positions to take.
    If on the higher time frames the market direction is opposite to your signal. You can still trade this but it is more risky and you should be looking for either support or resistance retracements.

    #60510

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    5 parent is 30min
    15 is 1 hour
    1 hour is 4hr
    4hr is daily

    Trades for today I took.

    Cheers.

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    #60518

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    You are getting signal Aariff soon.

    #60524

    basharat Javed
    Spectator
    • Topics: 0
    • Replies: 10

    Hi raj
    one thing is confusing me plz clarify if i get buy signal on 15M chart and candles are above the ribbon on 1 H chart but overall trend is downward on 1H chart,should i take this trade set up?

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