Disliked{quote} Thanks for the explanation, really helpful. Yes i heard about Guppy MAs but never dealt with it in detail. I would like to switch to the H4 and Daily for some time to see if my performance might getting better. Can you tell me from your experience A) How many valid signals according to the rules here are likely in one trading week for how many charts opened? B) How many of these signals are realistic to catch (start watching charts from EU opening / regular working time, morning to afternoon for me) I still find it very difficult doing the...Ignored
DislikedI just entered long on GJ here. I guess something i should not have taken? Its M30 btw. Thanks for your comments on this one in advance. Update: Stepped out with a -10 Pips. :/ {image}Ignored
It is a classical example of what I mean when I said below:
Too much time is being spent on TDI and Stochastics,
Too little time on Price Action and Support/Resistance.
And no time spend on Money Management, Risk Management for entries and exits, When and How to Let Profits Run.
You need to find your WINNING EDGE and the TDI is not in the winning edge equation.
You did not look at the Price Action which often show you the Market Type conditions and where the support and resistance for today's day trading.
You did not consider the Risk Management and simply traded fixed lot 0.1 lot when this GBPJPY is a very volatile pair.
You also did not consider proper Money Management when you trade this volatile pair. Using a proven Money Management will make a difference which is important for you to develop your winning edge in trading. Your winning edge must also have mental strategy to complement your trading style.
You did not see the Market Type condition and rely too much on the TDI which gave crappy signals in that Market Type condition.
You have a lot of other information on your chart which can be helpful, but did you look at all of the information and use them when you trade?
I notice that you have the AO with the Stochastics, that changes your rules for entry and exit. It reminds me of the OP Big E' trading in 2008 when he was a newbie.
stay tuned for more when I get back to my computer tomorrow I'll show you and explain how to apply Post#647 using your trade as example.
Are you prepared for some constructive criticism?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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