CoffeeShopCryptoWell as you can see this trade setup actually was a failure for me because I was potentially going long on this trade but then overnight price ended...Well as you can see this trade setup actually was a failure for me because I was potentially going long on this trade but then overnight price ended up going short period #GOLD was wiped out #US30 wiped out and among some other assets taking very strong shorts including #BTC. What ended up triggering me to get out of this trade before it went against me was that I woke up in the middle of the night and decided I didn't check for divergences on the lower time frame which is where they will show up first it's kind of weird. Your trade entry will appear from your analysis on a high time frame but it is anything that's creeping up to go against your trade it's gonna appear on the lower time frame than whatever you trade was. So I actually checked the five minute chart in the three minute chart and I found three divergences all one after the other pushing price the other way and that was enough for me to say hey I don't like the way this setup is going so I got out of the tradeShow more2 years ago
nighttalkerthanks, E. it's great to get your insight, especially your thinking in regards to checking LTF divergences. sometimes I will see price moving...thanks, E. it's great to get your insight, especially your thinking in regards to checking LTF divergences. sometimes I will see price moving against me, but it can be tricky sussing out if it's just a deeper retracement or if price is actually flipping on me. I know there's different schools of thought, like setting your tp & sl and refusing to touch the trade until one is hit. I get that approach, but my take on it is a trade is not a suicide pact, and it's okay to bail out of it when new information becomes available. thanks for sharingShow more2 years ago
zeedamn i was sick and couldnt get in on this one. sol going nutsss2 years ago
ps.125I've come up with a new theory.... Reducing RR's, and maximizing profits.... Use 10,28 and harsi... wait for 10,28 to cross.. Normally when they...I've come up with a new theory.... Reducing RR's, and maximizing profits.... Use 10,28 and harsi... wait for 10,28 to cross.. Normally when they cross you have a CHoCH... Now after cross use harsi to set SL and TP using RSI formula... Do not enter yet... Once RR's are set, move limit order to FVG in discount or premium zone... Use fibs to see where the levels are.. Measuring from start of move to end of move that caused the CHoCH to see premium and discount... Also set limit order slightly above or below FVG depending on what side of trade you're taking.... It works amazing... Just be sure to have the right settings on harsi to have accurate SL and TP and RSI formula calculations... NOW TEAR IT UP TRADERS!!!!!!!!!!!!!!!!Show more
2 years ago
ps.1250 Draw down as well... when done right...2 years ago