Yeah i'm buggin. I'll take the win but in review it was a bad trade. Shouldn't have taken it on the news candle and plus i should have taken it from 3104 as per my rules. Gonna do a little self evaluation, been a bit jumpy lately. image

The 5 minute TF S&R trading system

Just logged on to catch the 3109 buy. quick +15

The 5 minute TF S&R trading system

At 10 pips i move my stop to break even. At 13 pips i move my stop to 10 pips, at 14 pips i move my stop to 13 pips. Moral of the story is don't be afraid to take it early!

The 5 minute TF S&R trading system

Daughter won't go to sleep.

The 5 minute TF S&R trading system

Yesterdays observations image Looks like the consolidations may be trade-able. Curious to see how this develops. I want to say more but i'm tired. I'll just wait for tomorrows charts.

GLJ

I didn't put that because of the lows 70 lows that occured between 8:30 and 9:30. That area could have been the sessions low. I prefer to take the trade after the break of that area.

The 5 minute TF S&R trading system

The second level you drew on the chart is interesting. It's sort of like the 3 8 level but starts with a pivot. Good spot. You also bring to light what looking to the left of a level shows.

GLJ

I thought peeps were taking bad trades earlier so i came home and made a chart, but when i just reread the thread turns out we shared in the profits today. Here's the chart anyway image

The 5 minute TF S&R trading system

I use single or double lines because overtime that's where i've been seeing price turn. I'll eventually get around to posting more about this on my thread. Here's your chart image The top 2 zones that you marked were a result of other zones. The ...

Looking at SD on 5 min charts

Yesterdays chart image Supply and Demand as i currently see it on the 5 minute charts. image Observations image Lets see what tomorrow brings

GLJ

Just stick with it and you'll naturally fall into the correct risk zone for you. I think the ultimate goal should really be to read the market correctly and not so much to make 1%. The profits will come but for now you have to build your mental ...

GLJ

It's a new year. Time for new things. New Efforts! I spend around 15 to 20 dollars a day on breakfast and lunch together while at work. On average that comes out to a max of $440 a month. Lets see if i can offset this expense via forex. Trading from ...

GLJ

Ask and ye shall receive

The 5 minute TF S&R trading system

Truth in what blueruby said is without a profitable system, no matter your psychology you will not be profitable. Also, if you haven't built the confidence to trade a profitable system without question then you may turn your system into a ...

Psychology is nothing

I wouldn't say its non selective. Trading in the direction of the price move that started yesterday and price made a lower low. Also price broke through a higher timeframe pivot and that supply zone is kinda like a 123 2 retest.

The 5 minute TF S&R trading system

Yep, clean drop that made a lower low.

The 5 minute TF S&R trading system

Just reread the question i don't think i answered it properly. I hit Break Even about 30% of the time.

The 5 minute TF S&R trading system

Yes, 3% over 15 pips when trading this method.

The 5 minute TF S&R trading system

At 10 pips i move to BE no matter what. I do it for two reasons. I find that there is always some sort of reaction to at these levels and a 10 pip BE is usually enough room for price to jump around a bit before going to the full tp. Other reason is ...

The 5 minute TF S&R trading system

I'd say about 30% of the time this happens to trades i'm in. But just remember i haven't taken every single setup this method provides so i wouldn't say 30% is an accurate figure since it's based off of only my entries and not all possible entries.

The 5 minute TF S&R trading system