Daily trendline (red) broken. 2 top at the Daily SD zone. MA's show direction, sort of flexible trendlines if you like.

Jonln wrote: Tue Aug 16, 2022 5:25 am

yes. trendline is wrong but you got the idea.

Meyney wrote: Tue Aug 16, 2022 6:10 am yes. trendline is wrong but you got the idea.

I'll make sure to practice, It's fun right!

The DAX has obviously seen the latest electricity bill........
One direction, going South and South and South....... After my 6th coffee still the same....... ....
How boring! Money wise of course not. But it needs a lot of patience not to cut it off.
But as Meyney always says......"Trade what you see"....Absolutely!

By the way, much easier to see on the 5m.

both RplusT and Meyney, I wonder how you decide when to exit a trade?

Do you have pre defined TP and you hold to it no matter what?
You dont have a set TP and exit whenever you "feel" like a reversal could come soon?
Maybe you trail?

etc.

PumbaPLS wrote: Thu Aug 18, 2022 12:11 am both RplusT and Meyney, I wonder how you decide when to exit a trade?

Do you have pre defined TP and you hold to it no matter what?
You dont have a set TP and exit whenever you "feel" like a reversal could come soon?
Maybe you trail?

etc.

Perhaps start reading from post 1. Hope this helps best M.

PumbaPLS wrote: Thu Aug 18, 2022 12:11 am both RplusT and Meyney, I wonder how you decide when to exit a trade?

Do you have pre defined TP and you hold to it no matter what?
You dont have a set TP and exit whenever you "feel" like a reversal could come soon?
Maybe you trail?

etc.

using price action people usually use a lastest support or resistance or half of one
or if there is none probaly a fibonacci othere than that 1;1 1;2 or some exit indicator

Meyney wrote: Thu Aug 18, 2022 5:32 am Perhaps start reading from post 1. Hope this helps best M.

In your first post you wrote that your first target is the low/high.. which leaves many questions open

1. Do you leave a runner?
a. With how much risk you leave that runner?
b. When do you decide to exit that runner?

2. Do you have several Targets? 2? 3?
a. You get the idea..

3. Why do you do that despite the math working against you doing that? I guess a mental thing?

chickensword wrote: Thu Aug 18, 2022 7:21 am using price action people usually use a lastest support or resistance or half of one
or if there is none probaly a fibonacci othere than that 1;1 1;2 or some exit indicator

90% of traders are losing money trading. Using risk management the way people usually do is likely not going get you very far.... of course there are always exceptions before someone chips in with "I have been trading for 40years and I do that"

I was curious to know from both if then how they handle their trades as they them to be trading for a quite a bit already and probably? Profitably.

Anyway here is a nice quite of Tom Hougaard

Those who trade with a risk to reward ratio of some number, to me, are playing the same game as all those losing clients I saw over 10 years at a brokerage. They cannot wait to take their profit.
I on the other hand cannot wait to take my loss, but I prefer to be patient in taking my profit.