100 dollar account journal - Page 2
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  1. #11
    Blessed be hindsight! Never mind that. That's where I set my lines to mark resistance of the previous range which became support for the june range. I thought I would show the drop down from resistance to 61%.


    The conservative trader in my estimation would not trade that. It takes approximately a week for the price to descend near support and of course this is the tricky part determining that it's going to head up and not breakout to the downside, that is why you have protective stops. The point being that you are near support, if it's in a range, and that is the way you're trading it, it's not going to keep going down, the next stop is up. But is it going to head up to resistance, which means you set your fibs, you input at 23 percent or straight away based upon your taste for risk, place in stops under support and watch. You can observe that it increases to just below 61% and squeals back to encourage, yes it squeals. If you maintain your own fibs there you see it go out under the 23% not quite hitting support, really about 43 pips out of support and it reverses and heads to resistance. Remember entry is 23% once you set up your fibs for each move, that is for the squeamish or rather those you to maintain their account to view another day.


    The first time you set your fibs it's basically arbitrary, in which you think support is, the remainder will be off of previous price tags. I've highlighted the next fib measurement making it a little more obvious. Notice after it hits 61%, it heads upward, from there it will seem to encourage.


    As the time drags about the range starts to weaken or change and this is where you search for momentum indiions. In this case the highs and the lows are getting lower, and it is a great indiion which change is coming.

  2. #12
    So I just thought that I'd post this since it went so quick, and now price is heading up to resistance or so it seems. I should not be overly hasty, it could still descend into the 61%, but 50 percent is where to safely exit this kind of trade.

  3. #13
    Before I posted about the magic of fibs, going from the 23% to 61% then back .
    Here is a sample with chfjpy, on a four hour chart you wouldn't see this very clearly, and to be truthful I am going out on a limb here as much as I am really concerned it is heading straight up, but appears to be dicking around here with it's current reversal. Therefore it hit the 61 percent and is heading back down to the 23%, this is happening right now as I type. Once it hits the 23% it will reverse into the 50, then up into the 38, then back down to the 50....or maybe not. I need to go workout.



  4. #14
    I'm writing on the assumption that the chartists end of trading is not your specialty, sorry if I'm mistaken.
    I can understand you risking 40 percent of your account on a commerce or even a number of trades. I suggest if you play with to get a dime a pip, you'll see your great grandchildren before you'll see any serious money come out of your account. They assert, whomever they are, that the market is that range 80 percent of their time, so if you insist on trading, then trade ranges. Risk just 2 to 4 percent of your account on a trade, which commerce should be in the range of 3:1, which means that you're going to earn 3 times as much as you risk. Even when you're playing with the smaller time frames, then you need to go to the 4hr, it could tell you a lot before you go into the trade. But if you play with the 4hr, winning trades are real winners, 1:1 is not worthwhile. Which ever side you start off at, set your protective stop beyond that imaginary line of support or resistance, on the opposite side of the furthest penetrating candle. Once you're at the money, move your stop beneath the next level of service as price moves ahead within the range. Yes the price could undo, that's why I made a huge deal concerning the retest, once the range is breaking down it will retest a couple more times prior to a breakout. And if you're trading ranges and it starts to fad, you go along to get a ride, it's not tough to have a commerce that goes on for weeks which you then play with the drawdowns, so that at the beginning of the commerce you entered using a dime and when it comes to an end you're trading for 5 dollars, maybe ten dollars a pip. That's probably one of the greatest reasons for playing with the 4hr range, you get in on the fad at the beginning, I mean besides all of the money to be made if you play with the range right, right meaning you made a lot of pips with the maximum possible trades.

  5. #15
    I just thought I'd throw this one in, the audusd, check out the fib, the 261% line was right on resistance.

    Now in the event that you go back to the stuff that I wrote earlier about the euraud, I nulified both opening four hr candles for this particular week at the fib calculation because I said that related to a fib activity that goes back to May and those 2 candles brought closure so once I implemented the fibs to what I presume is that the new move I didn't include them. Now take a look at the Ozyank, my fib scale comprises both launching candles and all todays move. Why, because the pair still has an obligation (that is what I call it) to proceed into the 61 percent of the correction or maybe the 50%. It is right at the 23 percent, this move could take a few weeks but it's about 270 pips give or take whether it goes to 61 percent. It did get quite close to the 50 percent a couple weeks ago, but it's back.

  6. #16
    Quote Originally Posted by ;
    Blessed be hindsight! Never mind that. That's where I put my lines to indie resistance of the preceding range which became service for the june range. I thought I'd show the drop down from resistance to 61%. picture The conservative trader in my estimation could not trade that. It takes approximately a week for the price to descend near support and of course this is the tricky element deciding that it's going to head up and not breakout to the downside, that's why you have protective stops. The purpose being that you are near service, if it's at a range, and...
    love with your installation, Brother....
    In addition, you use the Fibo degree, Yup, this is sufficient to help the practice of analysis.

    Cheeeerr...

  7. #17
    thanks, best of trading to you also.
    It cost me a lot of money to find out this.
    I mapped this next one out until it struck, double tweaser bottoms on a fifteen minute chart, far more interesting than a 4hr display


  8. #18
    Wow, this wonderful thread, same here, turning $100 to $10000, fantastic luck bro

  9. #19
    All the best with developing the account.

  10. #20
    Quote Originally Posted by ;
    thanks, best of trading to you also. It cost me a lot of money to learn this. I mapped this next one out before it hit, double tweaser bottoms on a fifteen minute chart, much more intriguing than a 4hr display image image
    Thanks to the charts, don't hesitate to share you entry and view of pairs. I also love fibonacci with price action on those amounts.

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