DislikedI have been quiet lately, studying both this method and the James16 thread. I can feel myself growing as a trader, though my account does not reflect it, yet.
Okay, on with the questions.
#1) I wake up at 5 AM CST to check the 4 hour charts (it is when a 4 hour bar closes on my MT4), and then back to sleep until 8 AM. I am sick of my life, and it is time to take this trading stuff to the next level. Now, the European market opens at 2 AM my time. Would I be best off to wake up at 3 AM, even if the 4 hour bar has not closed, to get in early based on the 1H charts, and then get back up at 5 AM? What time do you USA guys get up in the middle of the night to watch the charts? What time do you get to bed?
my personal experience is : dont enter h1 befor europe opening,even dont trade befor 1hour after opening,i saw many times it goes up for the first hour and then come all the way down ,a false signal for first hour of europ opening
#2) I lost out on the GBPUSD short this morning. I had reasons to not take the trade, and reasons to take the trade. I am kicking myself for not collecting 25 easy pips shorting the EURUSD. Now both have gone long, and I got stopped out on the GBPUSD. I took the trade, as it looked to be a good set-up, though it did have a tail down. I have below attached the 4H chart I used to base my decision, and I took the trade on the close of the 4H bar below the red arrow down.
Was this a bad trade, is it just a loss that I can expect, did I trade too close to news, do I need to get up earlier to trade off the 1H opening of the European session, thoughts?
if u look at the GU daily chart ,u'll see how strong is the 9750 level is ,many times price hitt it from up and down , i think it would be better to wait this levels breaks and then enter
Thank you!Ignored
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The more obstacles I overcome the better man I become.