not fooled by random market and by technical analysis

[padutrader]

B/c if we are talking probabilities, then saying "make sure you have a good reason for taking a trade" cannot be quantified and thus the statement "in the long run it will work out" is false.

yes it cannot be exactly quantified ..but do you need that precision?

i just take brooks word for it.....if he says buying a breakout pull back is high probability that is enough for me

 

[padutrader]

are u trying to give advice to others ?

Brooks given all the advice anybody needs
i have no intention of re inventing the wheel.
But Brooks due to no fault of his own has been given very bad publicity by some...
i wanted to counter that here by posting trades live using Brooks methodology but that is becoming very distracting because i, unlike Brooks, trade in 4-5 securities.
any way i have linked my account to third party-mql4- and i hope to do it that way......but i suppose there will be some who say even that can be manipulated....'there are none so blind as those who will not see'

 

[padutrader]

but if you identify the trend keep a wide enough stop and trade 'small' you can forget about everything else

 

[padutrader]

 

[padutrader]

ok here is this trade
one look it is a trend up that means high probability buy..
so i sold and put a stop around 11 pips above the high-the stop is at 1.10114 and not what is shown in the chart- because a high probability trade will not give much reward

 

[SimpleMeLike]

another good thing i noticed recently is trying to see on which side of a moving average the market spends more time [bars] on.if any.

Good evening padutrader,

I am testing two EMAs (5 and 10) to improve trading exit strategy to be subjective about exiting positions. For example, from the chart below. I shorted at red arrow, price makes lower low at this point I have one decisions to make. 1. What to do with my stop loss.

My decision, if price closes above blue EMA, i bring stop loss 2 ticks above the bar.

Done. The decision making is simple and clear.

 

[padutrader]

if price closes above blue EMA, i bring stop loss 2 ticks above the bar.

yes that is a pretty good way

 

[SimpleMeLike]

yes that is a pretty good way

What is your exit strategy for exiting trades?

 

[SimpleMeLike]

ok here is this trade
one look it is a trend up that means high probability buy..
so i sold and put a stop around 11 pips above the high-the stop is at 1.10114 and not what is shown in the chart- because a high probability trade will not give much rewardView attachment 210706

padutrader,

If the trend is up and high probability buy, why did you trade short versus not trading long with the high probability buy. I do not understand.

Are you a counter trend trader or trend trader?

 

[padutrader]

padutrader,

If the trend is up and high probability buy, why did you trade short versus not trading long with the high probability buy. I do not understand.

Are you a counter trend trader or trend trader?

dont worry you will
basically if it is very high probability then reward cannot be high so you can always fade a high probability trade by keeping a wide stop.
high probability trades can only lead to scalps not high reward.