Intraday FX Player

[CFerret]

Now we have a new smaller channel formed...

 

[CFerret]

...and getting respect of PP again, at least in the short term...

 

[yoohoo]

yea, not just better profits but better risk management. The less you know the more confirmation you need meaning stops are further away.

The trader might feel they have a safer play, but in chop they get murdered. My style allows very tight stops and the ability to stay in for a double bottom.

It means I make a killing in chop, spikes or trends yet I play with more safety than "conservative" traders.

 

[yoohoo]

beautiful reversal on the Resistance - no brainer

 

[CFerret]

Yes, this too for sure!

At my current stage I also moved from getting more confirmation to more aggressive entry for just that reason - was chopped to death...

Now with your help learn to get even better entries.

P. S. This time PP forced price to retreat especially strongly...

 

[CFerret]

Quote from yoohoo:

beautiful reversal on the Resistance - no brainer

Yeah, textbook reversal bar on 1min at a PP it was...

So around levels you always watch PA and if it shows you a reversal you exit previous trade and reverse?

 

[yoohoo]

yea - and back to channel - 30 pips in a few mins - lo risk - no thinking - I play guitar and sing - relax

 

[CFerret]

Price have tested a channel from the other side now...

 

[yoohoo]

yea - almost always in

But no pressure - if not sure I'm out

 

[CFerret]

Quote from yoohoo:

yea - and back to channel - 30 pips in a few mins - lo risk - no thinking - I play guitar and sing - relax

Yea, THAT is cool for sure!