Intraday FX Player
- Thread starter CFerret
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LOL - been there, done that too.
Missed most of the action cause I'm setting up a personal trading room with multiple connections, PC's, A/c's and staff etc. so just choosing, buying and installing today and most of this week.
Was going to post a well done on a sharp entry but had to leave. Seems things went astray - lets do a bit of a post mortem.
Like seeing Pin Bars everywhere, you have to be careful to add to your learning like I mentioned earlier. Today you put on your six-guns and were ready to gunsling it out. Only problem was after the first quick shoot-out it was chase the bandits all day. No one to fight hehe.
When you are going to play agressive you need to be able to come in with the slow, slower and slowest players when you miss your entry. Don't sit there saying, "I missed my entry!" or, "There's no entry!!" Instead think, where would a slower trader get their entry?
That's why today I said don't forget your 5 min set-ups because I knew if they went for a new high you might miss the fast entries.
Also remember, the big guys want cheap money - that's why I suspected a down break and then we'll see what happens next.
Down = Up! (ie down first then up OR vv).
It takes time to learn set ups and then direction. Direction is the first thing you lose when you go for fast entries - that's why your fail-safe is the 1 hour chart: it stops you from standing on the sidelines all day when the market goes wild... like today LOL.
On the 1 hr I've posted where had a screamer warning of energy when we broke out thru the black T/L on the 4th attempt. Slowest traders were climbing all over this as you can tell. It was a free no-brainer ride; skill Level is basic here.
The top blue line that it reversed on was one you've seen for over a week now - perfect to the cent reversal.
I was going to post a warning when you took that brilliant entry short around 1.58 that the tails on both sides of the 1 hr chart were warning of chop so scalp it. I could see there was energy to the upside but had to rush out.
Look at how PA approached the 1 hr breakout - the sellers tails underneath tells us they were losing the battle - just like the tails at the top tell you the buyers are in pain.
Quick summary: always try to see several entries - you are now trading at a very high skilled level, but you must know how the lesser skilled traders will enter. The idea is to beat them to the party, but if not... then join them.
)
Missed most of the action cause I'm setting up a personal trading room with multiple connections, PC's, A/c's and staff etc. so just choosing, buying and installing today and most of this week.
Was going to post a well done on a sharp entry but had to leave. Seems things went astray - lets do a bit of a post mortem.
Like seeing Pin Bars everywhere, you have to be careful to add to your learning like I mentioned earlier. Today you put on your six-guns and were ready to gunsling it out. Only problem was after the first quick shoot-out it was chase the bandits all day. No one to fight hehe.
When you are going to play agressive you need to be able to come in with the slow, slower and slowest players when you miss your entry. Don't sit there saying, "I missed my entry!" or, "There's no entry!!" Instead think, where would a slower trader get their entry?
That's why today I said don't forget your 5 min set-ups because I knew if they went for a new high you might miss the fast entries.
Also remember, the big guys want cheap money - that's why I suspected a down break and then we'll see what happens next.
Down = Up! (ie down first then up OR vv).
It takes time to learn set ups and then direction. Direction is the first thing you lose when you go for fast entries - that's why your fail-safe is the 1 hour chart: it stops you from standing on the sidelines all day when the market goes wild... like today LOL.
On the 1 hr I've posted where had a screamer warning of energy when we broke out thru the black T/L on the 4th attempt. Slowest traders were climbing all over this as you can tell. It was a free no-brainer ride; skill Level is basic here.
The top blue line that it reversed on was one you've seen for over a week now - perfect to the cent reversal.
I was going to post a warning when you took that brilliant entry short around 1.58 that the tails on both sides of the 1 hr chart were warning of chop so scalp it. I could see there was energy to the upside but had to rush out.
Look at how PA approached the 1 hr breakout - the sellers tails underneath tells us they were losing the battle - just like the tails at the top tell you the buyers are in pain.
Quick summary: always try to see several entries - you are now trading at a very high skilled level, but you must know how the lesser skilled traders will enter. The idea is to beat them to the party, but if not... then join them.
)
Hi CF, personally I think having a position into figures is a rather dangerous game, it's nice if you are right, but if you are wrong it could go a long way before you get out ... I personally close al positions 10 minutes before them, even if this means I leave some profits on the table.
Well, of course I'd prolly not hold into NFP or FOMC news.... But smaller news rarely have so huge spikes which can get me out far beyond stop and as a result of experience of many such occurences I have positive results playing into them... But of course everyone has his own style of play, what suits me can be unsuitable for you and wise versa.
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