Yes very good advice. Thanks - I have cutmy risk accordingly over the past few weeks.

Why Can't I Trade?!

Thanks bloodpoodle - reading Mark Douglas at the minute to help with money management and psychology.

Why Can't I Trade?!

Look at every rally on a 4hr chart. You can see every move started when the 15m was down. If the 4hr is up then I look at 15m flow being down as an opportunity to buy at a good level to get back in line with the overall direction at a pre marked ...

Why Can't I Trade?!

Long scenario - Price hits support and bounces away, I will wait for a retrace in to a recent support or resistance level and buy - reverse for selling. Selling the actual support or resistance is the best entry but if you are unsure if a level will ...

Why Can't I Trade?!

The entry criteria is to sell any retracements where the 4hr is showing a short direction or to buy dips where the 4hr is showing a long direction. Often at these levels when price price breaks through it will re-test the level and that is the entry ...

Why Can't I Trade?!

Hello SheldonFX - Trades are only taken M5 or M15. Analysis is 4hr for long / short bias and weekly and daily levels are what I mark with some from the smaller timeframes for nearer term intraday levels.

Why Can't I Trade?!

Missed two entries today at 15780 and 15757 due to work but as we had rejected both those levels I was confident price was reaching for the old 15676 level so entered with a 25pip stop loss targeting 60 pips which was achieved shortly after with my ...

Why Can't I Trade?!

Thanks for the input Rob, I have been noting weekly trends and have opened a demo account to try and see how it works in reality so interesting to see.

Why Can't I Trade?!

Yea those levels are important for me plukin although I dont trade them all. The blue and pink are my key levels the green are just more short term levels. Might be too busy for some but the reactions are there. I'm still looking for longs this pair ...

Why Can't I Trade?!

I trade 4hr for direction merquise so this is a minor retracement for me. That said once 15820 went maybe short term flow is short. I'll keep watching the levels for buy signals.

Why Can't I Trade?!

Yes in hindsight I should have sold the 15757 level where I had previously entered as this was classic resistance broken becoming support. Also, my trade was taken later in the day then what you are suggesting in your reply as once price broken ...

Why Can't I Trade?!

Yes stop loss on this occasion was 30pips as it was a higher frame support level so I allowed a larger stop but take profit would have been 60 pips so I was still at 2:1 reward. The trades earlier in the day were with 10 pip and 15 pip stop losses ...

Why Can't I Trade?!

Just took a loss on GbpUsd buying 15757 an old level of support and resistance and was stopped out for 30 pips. Id take this trade again and so am not too despondent as overall the trend has been higher last few weeks and so why I favoured a bounce ...

Why Can't I Trade?!

Thanks rolandw - yes when I get there I will be looking hard at what was the consistent entry / exit / size etc got me there and hoping to push on from thereon. I'm not a great runner so maybe that is the answer - if I rage trade, I have to run

Why Can't I Trade?!

Few trades from yesterday and today. Making some steady headway over the past few weeks which has seen my % increase to 54% and my overall account is back to -50% from -65% from its lowest ebb. Average winner is up to 21pip from 20 and average loser ...

Why Can't I Trade?!

Thanks for posting and agree with a lot you say particular on exits. To clarify I mentioned lots in my operating post but this should have been £ and when I was talking of reducing to 0.10 - 0.50 this also was £. I have been taking profits quicker ...

Why Can't I Trade?!

I agree money is the by-product of doing the right things consistently and that is where I need to detach myself from the pipe dreams and focus on making a steady growth equity over the coming years rather months! Once I am consistently taking my ...

Why Can't I Trade?!

Thanks SheldonFX - its been a good week. Now to keep it up.

Why Can't I Trade?!

Now I believe the trade will continue higher today but as part of my new rules I wanted to start using a physical stop loss and take profit until I get my consistency going and taking some of the emotional issues away. Therefore the trade I took ...

Why Can't I Trade?!

I get what you are saying here and usually Tue Wed Thur are my main days but if there is an opportunity Mon Fri I would trade it. That said this thread has helped take away the "need" to be in the market as you say and keep the knife away

Why Can't I Trade?!