Discussions and Chat

[Minsk]

I saw this Trading Range long time ago

I have been watching ...

Then it popped out and created a #SEED

Brilliant Long 



 

did you take the trade?
 


 

Oh yes, 

 

 that's a winner

[immy]

I have learned this over the last few weeks. 

Looking at the D1 chart, DOES NOT help with the BANANA method. 

IT does not matter what the D1 is doing really. What matters is that you find your trading setup on the H1 chart and that's it. 

Looking at the D1 chart can give you conflicting information making it harder for you to trade. But this can differ from trader to trader. 

Some people like more objective decision-making, which is good, yet there are others, who may need several layers of information to stack up. 

My RULE now is 

KEEP on the H1 Chart and H1 ALONE...

Do not draw Support and Resistance Lines, simply EYE them 

Look for NEW Highs and New Lows 

Wait for TTR and Clean Breakout and re-testor pullback or 
Wait for 2nd Day play and wait for breakout and pullback and signal. 

that's it 

 
 
 

[immy]

I have learned this over the last few weeks. 

Looking at the D1 chart, DOES NOT help with the BANANA method. 

IT does not matter what the D1 is doing really. What matters is that you find your trading setup on the H1 chart and that's it. 

Looking at the D1 chart can give you conflicting information making it harder for you to trade. But this can differ from trader to trader. 

Some people like more objective decision-making, which is good, yet there are others, who may need several layers of information to stack up. 

My RULE now is 

KEEP on the H1 Chart and H1 ALONE...

Do not draw Support and Resistance Lines, simply EYE them 

Look for NEW Highs and New Lows 

Wait for TTR and Clean Breakout and re-testor pullback or 
Wait for 2nd Day play and wait for breakout and pullback and signal. 

that's it 

 
 
 




 

Interesting, yes i often try and check d1 trend when validating signals on h1. They do give confidence some time when all time frame shows same trend but majority of time conflicting information. I will stick to H1 for now.
 
 


 

Think about this 

What really matters to us is

1. Trend or TR on the Current time frame 
2. Entry setup appearing within trend (the right context and context simply means, THE LEFT) 
3. The Entry setup is made of 5-10 candles max. 
4. Trades usually concluded within the next 1-25 candles. 

Why and how can a DAily trend help us with this/ I can have a trade that is made of 5 candles entry setup and 5 candles to complete the trade. that is just one Daily candle.   :hmm :hmm
 
Now if you talk about stock charts then H1 and D1 are VERY much connected. Actually, for Stock charts h1/D1 is like H1/H4 for Forex. 
because stock charts are made of 7.5hrs data. 

Trading the 5 minute chart requires intense focus on long hours. You can't sit for 20 minutes and make great trades. No, if you're trading m1 or m5, you have to prepare and sit and get in the zone and focus. If you're sitting in a train and making yourself "useful" on laptop or phone on a vps, you will LOSe. 

[Minsk]

I am moving house this week, so I will only read forum in the evenings. No time for trading this week 

[immy]

[Minsk]

 

So I don't miss any good price action. Looks crappy indeed.
 

[immy]

 

So I don't miss any good price action. Looks crappy indeed.
 

 

Yes, as we all (should) know, the market was KEENLY waiting for FED Decision. And they did increase the rates by 0.75% to 2.5%. 

[immy]

Total Signals: 23 Signals
Winners: 13  (56%)
Losers: 4 (17%)
BE: 6 (26%)
RR: 1:6 (6:38) 


Sum of All winning Trades: 44 R
Sum of All Losing Trades: 6R
Profit Factor: 7.13 
Total Trading Days: 16Days out of 21 Days.


 
 
 
 
 

[Minsk]

that is a fantastic result over july!
was that all on H1 of is some H1/m5 in it too?

[immy]

that is a fantastic result over july!
was that all on H1 of is some H1/m5 in it too?



 

Hi, 

No M5. Pure and simple Banana Signals.

We don't need to have taken all the signals. I aim to catch just 3-4 of those, that will do the trick.

My Targets are Always 5R but I move SL to BE at +2R and then I trail by 2R., so when it's at 3R move SL to +1R at 4R move it to 2R. 

It is important to protect Drawdown. e.g. You have a 6R target. You risk 1%. The market goes 5.5R in your favour and then it turns around, hits your BE. You will LOSE your account. 

cheers 

ps: for those scratching their heads (drawdown limits)