what is the ideal set up?

dotcom

Member
62 1
when is usually the perfect time to enter? other words what candle stick should be displayed before i enter?
 

MrBurns1

Junior member
12 0
This question can't really be answered.

Completely agree.

Op your question sounds like a very vague way of looking for the perfect trade. There are multiple things to consider when looking for entries and exits.

1. If i enter this trade, how much risk is involved compared to potential profits?
2. Where are the major higher time frame support and resistance level in comparison to the current price?
3. Any fundamental news that could effect price, in the wrong way or even push price to your target?
4. Simple trend line breaks and retests then continuations (i love these)
5. Closes and opens above or below certain prices at certain times on multiple time frames.

I feel personally that I must consider all of these before entering a trade, not just from a simple candle stick formation... which could say sell at the moment but in the broader scale is BULLISH all day long... for example.

Price action is key, Indicators are for confirmation. Not the other way around. Always remember that.

Hope that helps.
 

dotcom

Member
62 1
Completely agree.

Op your question sounds like a very vague way of looking for the perfect trade. There are multiple things to consider when looking for entries and exits.

1. If i enter this trade, how much risk is involved compared to potential profits?
2. Where are the major higher time frame support and resistance level in comparison to the current price?
3. Any fundamental news that could effect price, in the wrong way or even push price to your target?
4. Simple trend line breaks and retests then continuations (i love these)
5. Closes and opens above or below certain prices at certain times on multiple time frames.

I feel personally that I must consider all of these before entering a trade, not just from a simple candle stick formation... which could say sell at the moment but in the broader scale is BULLISH all day long... for example.

Price action is key, Indicators are for confirmation. Not the other way around. Always remember that.

Hope that helps.


if you don't mind, can you clarify a little on price action (are these the numbers displayed when entering "strike price") and indicators (these are the candle sticks?) when i look at charts, what is it im looking for when im looking back on the trade 2 or 3 days (5 Min. Charts etc..)
 

dotcom

Member
62 1
is their no ideal set up anyone has seen. For example, news has said that the euro is up and USD is down. the time is 5 pm and the charts are displaying some hammer candles. the past 2 days there has significant trend lines. You know...stuff like that. Is their no pattern or any one common set up or something similar. When is their ever a golden cross? when is it that trends occur?

Im talking about a global perspective here. What countries have to say what in order for this to do that to make these people do this?
 

MrBurns1

Junior member
12 0
if you don't mind, can you clarify a little on price action (are these the numbers displayed when entering "strike price") and indicators (these are the candle sticks?) when i look at charts, what is it im looking for when im looking back on the trade 2 or 3 days (5 Min. Charts etc..)

i don't mean to argue with you sensai. But my questions are like the grasshopper who cannot jump.


I get you mate,sorry if you did not understand.

Price action is exactly what it says on the tin. It basically covers, where price is now and where price has been in relation to support and resistance lines and trend lines.

Im at work at the moment but i will post some examples when i get home of you like.

I do have a set up that i like to trade but it has a lot of explaining. Ill post a bit later when i get to my charts.
 

rathcoole_exile

Veteren member
3,924 767
is their no ideal set up anyone has seen. .....Is their no pattern or any one common set up or something similar.

NO !!

No short-cuts, no easy steps, no quick answers.

Just years and years of hard work, sweat, tears and money lost before you start to understand how to trade.

Do some reading, do some research in the threads aimed at new traders.

Don't come on here expecting to be gifted anything
 

MrBurns1

Junior member
12 0
Don't come on here expecting to be gifted anything

Great advice. I found i have made more mistakes from listening to people too much. Be confident in YOUR OWN knowledge and YOUR OWN analysis and you will go far etc. However ill still post some examples for you later OP. One piece of advice is think like Smart Money, try to pre empt their movements as they are the ones moving the market, trade along side and your laughin, trade against and your hard earned kids inheritance money pays for Mr Hedge fund managers next Lambo.
 
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dotcom

Member
62 1
I get you mate,sorry if you did not understand.

Price action is exactly what it says on the tin. It basically covers, where price is now and where price has been in relation to support and resistance lines and trend lines.

Im at work at the moment but i will post some examples when i get home of you like.

I do have a set up that i like to trade but it has a lot of explaining. Ill post a bit later when i get to my charts.

that would be great. Thank you.
 

Soloquan

Established member
646 24
NO !!

No short-cuts, no easy steps, no quick answers.

Just years and years of hard work, sweat, tears and money lost before you start to understand how to trade.

Do some reading, do some research in the threads aimed at new traders.

Don't come on here expecting to be gifted anything


This (y)
 

ChocolateDigestive

Experienced member
1,153 281
when is usually the perfect time to enter? other words what candle stick should be displayed before i enter?

in all seriousness this is the only set up you ever need, some call it the grail. right here it is:

when price touches weekly low or weekly high enter a trade in the opposite direction (reversal) shoot for 10 pips with a 10 pip stop loss. Try it I guarantee you will be amazed.

here is your 1st trade EURUSD weekly low from last week = 1.2241 as soon as price touches that you go long, take profit 10 pips stop loss 10 pips.
 

ChocolateDigestive

Experienced member
1,153 281
When all the wax melts and your coming to the climax then it's time to enter

we will see what happens @ 1.2241 when it reverses 10 pips and I book my winner. it is foolhardy to bet against me, I was trained by the worlds foremost expert on price behaviour, world trading champion 2010. lets go pippin. Dont worry he passed on all his secrets and I am now able to offer a mentorship for £500 pm, 6 months for the price of 5 if you must. dont worry I will throw in the occassional loser to keep it real.
 
 
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