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immy
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Re: The ETH Long

Unread post by immy »

Minsk wrote:
21 Jul 2022, 16:40
immy wrote:
20 Jul 2022, 14:57
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, 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌

Minsk
Posts: 498
Joined: 11 Nov 2021, 16:11
2

Re: The ETH Long

Unread post by Minsk »

immy wrote:
21 Jul 2022, 17:28
Minsk wrote:
21 Jul 2022, 16:40
immy wrote:
20 Jul 2022, 14:57
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, 

 
:thumbs
 that's a winner

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immy
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Posts: 9660
Joined: 22 Nov 2010, 16:46
13

NEW Lesson - New Rule

Unread post by 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 

 
 
 
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What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌

fxsam
Posts: 894
Joined: 16 Apr 2012, 08:09
11

Re: NEW Lesson - New Rule

Unread post by fxsam »

immy wrote:
22 Jul 2022, 13:14
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.
 
 

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immy
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Joined: 22 Nov 2010, 16:46
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Re: NEW Lesson - New Rule

Unread post by immy »

fxsam wrote:
23 Jul 2022, 00:11
immy wrote:
22 Jul 2022, 13:14
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 :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. 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌

Minsk
Posts: 498
Joined: 11 Nov 2021, 16:11
2

Moving house this week

Unread post by Minsk »

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

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immy
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Founder
Posts: 9660
Joined: 22 Nov 2010, 16:46
13

Re: Discussions and Chat

Unread post by immy »

What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌

Minsk
Posts: 498
Joined: 11 Nov 2021, 16:11
2

Re: Discussions and Chat

Unread post by Minsk »

immy wrote:
27 Jul 2022, 08:44


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

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immy
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Joined: 22 Nov 2010, 16:46
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Re: Discussions and Chat

Unread post by immy »

Minsk wrote:
27 Jul 2022, 18:30
immy wrote:
27 Jul 2022, 08:44



 
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%. 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌

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immy
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Founder
Posts: 9660
Joined: 22 Nov 2010, 16:46
13

July 2022 - Banana Strategy Performance

Unread post by 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.


 
 
 
 
 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌

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