Good morning Dim! You need to be careful fading off 5 minutes charts. Bars/Candles etc. are indicators of market data - The more data is accumulated over time the better. I mean. it can be done but will keep you dancing on the toes....Time frames ...

Feb's Trading Journal

Market is bouncing off 1.3555 - mmmm Failed twice as you see on the charts - I would probably go short here. Today is FMOC Minutes well.... lately that report hasn't been significant market wise.

Feb's Trading Journal

Target hit. I have my eyes on the original resistance level - the first white line up - I would like to see how the market will play that line. I smell a breakout but not sure yet.

Feb's Trading Journal

Thanks. I normally stay around for a while and then roll back to my cave. But I'll stay around this thread for a while.

Feb's Trading Journal

I moved my P.F to 1.3533 - Notice the arrows. Initially, I was shooting for that resistance up close to the fake out level on Friday. But, I have a funny feeling the market will bounce off that "new" level.

Feb's Trading Journal

too much noise on 5 minutes for trading levels. Market data is not enough.

Feb's Trading Journal

wait for the bar to close off the level and place a bet at 5-10 pips over/under that bar ...that would do the trick ....and shoot for the next level of course..

Feb's Trading Journal

That's great!...I'll be around you know...the usual. Posting on a journal will keep me away from the public eye somehow....I really don't mind. Trading for me is just having fun .

Feb's Trading Journal

Hey Dim! I am actively teaching. I took a peek on here and throw some charts just for fun! I will be steady here at home for christmas and will be trading a bit more. I still trading like this journal, so far not scalping anymore.

Feb's Trading Journal

I took the trade at the"fake out" label....of course short. I bailed out today around 7:00 AM EST - Then I took the other one (long) looking up to the resistance level...exactly where I went short....well not exactly.... some pips below the heat ...

Feb's Trading Journal

Out of my cave for a few minutes... Love your losses.. embrace them...made them part of your investment in this business.. This system is not for everyone, hence I have other threads. I am a scalper and I read tape. Is easy for me to put 100+ in one ...

The System II (Yes with irony)

Yes. Use a reference bar/candle and place your order like a couple of pips above/below just in case..

The System III (Oh no!)

Exactly. Like for instance, the price is bouncing or breaking 1.3780,means the market is either rejecting(bouncing) or simply breaking out of that level . If the market is bouncing off, there will be some attempts to break the level but it fails. If ...

The System III (Oh no!)

I agree!!! I've been trading tape for ages. There certain "gut feeling" you have when reading tape. Still is not the base for trading . You must act upon your signal and then let the market do whatever. Remember, trading is all about possibilities. ...

The System III (Oh no!)

Similar to tape reading. To be honest, don't pay attention tho that or you might go crazy! Actually on tape reading you put markers similar to S/R lines. There's no edge of time market movement. Only where price stalls or breaks is where you need to ...

The System III (Oh no!)

no matter the size, really. I see consistency there my friend!!

The System III (Oh no!)

well my friend that's the nature of this business.... You entry was fine. The market just went the other way....

The System III (Oh no!)

Entries should be at the close of the bar- let the market show it's hands.

The System III (Oh no!)

sounds like a logical level

The System III (Oh no!)

market is bouncing off 50 level....

The System III (Oh no!)