Made two trades today, both ended as scalps, I got in when the move was already ending (excuse 
), so I went counter trend, went long UJ at the previous monthly low and shorted GU at the previous weekly high, made 10 pips, a bit less than 1%.
Lately I am fine tuning my trading, it is more relaxed, I set my levels before the session and I wait for prices to get there, once there I take in consideration PA and my experience (which sucks)
I risk not more than 10 pips per trade and I only trade the 3 majors plus AU (the bitch), I risk not less than 1% for 10 pips, my SL's are technicals, meaning at the extreme of the signal candle, when the candle is too big I either pass or risk not more than 10 pips, normally is about 5-7 pips.
When it works I cover half at the next level and the remaining at the end of NA session which is my early morning, some morning I find a nice surprise.....
I rarely have losing days but most of my days I make 1 to 2 my risk, some days I also can make 100 but are not the norm.
3 to 4 trades per day is a good number for me, I do not scalp I try to swing, but like today if counter trend I scalp. the GU short ended as a scalp but my intention was to swing, I covered half at +5 and moved SL to BE and go stopped out, I covered at +5 because was a counter trend otherwise I would have coved half at the next level.
I have about 60-70% winning trades, many days I have 50%, but normally I need one trade to cover two losses and make a bit more.
Now GU has reached the previous monthly high, the candle that broke is huge, but I do not care my session finishes in 5 minutes and I will skip thinking...
), so I went counter trend, went long UJ at the previous monthly low and shorted GU at the previous weekly high, made 10 pips, a bit less than 1%.Lately I am fine tuning my trading, it is more relaxed, I set my levels before the session and I wait for prices to get there, once there I take in consideration PA and my experience (which sucks
)I risk not more than 10 pips per trade and I only trade the 3 majors plus AU (the bitch), I risk not less than 1% for 10 pips, my SL's are technicals, meaning at the extreme of the signal candle, when the candle is too big I either pass or risk not more than 10 pips, normally is about 5-7 pips.
When it works I cover half at the next level and the remaining at the end of NA session which is my early morning, some morning I find a nice surprise.....
I rarely have losing days but most of my days I make 1 to 2 my risk, some days I also can make 100 but are not the norm.
3 to 4 trades per day is a good number for me, I do not scalp I try to swing, but like today if counter trend I scalp. the GU short ended as a scalp but my intention was to swing, I covered half at +5 and moved SL to BE and go stopped out, I covered at +5 because was a counter trend otherwise I would have coved half at the next level.
I have about 60-70% winning trades, many days I have 50%, but normally I need one trade to cover two losses and make a bit more.
Now GU has reached the previous monthly high, the candle that broke is huge, but I do not care my session finishes in 5 minutes and I will skip thinking...
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Hi Fugazsy, are you using market profile?
I thought you were using Al Brooks price action setups?
Hi Paszkman
How are you? Is the old country treating you well? I hope so, otherwise I have a word with them....
I am using MP atm in conjunctions with price action which I have mostly learnt from Al, which are classical technical pattern transported into the 5m time frame.
My way of trading is simple, MP helps me define the levels for tomorrow (see videos on this thread, the first one from urban forex is clear ) based on the 5m TF, I also add (as levels) the monthly, weakly, daily high low together with their middle point (50% retracement).
I also take in consideration where the market opens based on the previous value range, if it opens below I am looking to short and viceversa, if it opens into the previous range value I am looking for a range day...and I rarely take trades in the current value range...but as you well know a trader has to adapt for what is there not for what he thinks is there.
This is my battle field, when prices get to those levels I trade them based on my knowledge of PA.
Mp and levels helps me to have a plan before I trade, I am also a bit impulsive as a person and keeps me out of trouble.
I hope I helped a bit, if not please ask more questions and I will try my best to get back to you I can also show you a chart prior to opening if you like.
Cordiali Saluti.
Fug
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sl to be
covered half @ +16...it is money....now I will go to finish cooking the "polpette" .....nearly done.
looking at this chart can you see where I took the trade and why?
I will explain if you want me to, but first read my reply to Paszkman
Closed +34 second half
yes it can go to +100 pips....but in my view markets are nervous and I do not care if it does....I will stay put when the market tells me so....
I was right..... this time....she went no where.......
Ciao Fug, tutto bene..che buone le polpette!
looks like you were buying bottom of a range near previous support?
Hi Paszkman
I bought at a level of (1)support combined (2)with a rejection area on the previous day Market Profile, (3)outside the range value of the current Market Profile together and at (4)a double bottom bull flag (Al Brooks).
(5)Also I took this trade just after 5 minutes of a positive news (red on the calendar).
Market did not turn here, still I made 2.5 my risk, which shows you do not have to be right to make money but being street smart could help, I quickly moved my SL to BE then covered half and the rest soon after that, just a bit below a double top bear flag.
Si le polpette erano buonissime, sentivo i miei figli mangiare, emanavano dei suoni come orsi affamati.
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