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Simple trading: levels and price action (mainly on DAX)
Started Jan 25, 2016|Commercial Content|859 repliesHi Traders, Some words about me: I started my forex activity approx. 8 years ago .. blah blah ...
Newer +125 pips. I did not expect that price broke the daily low (no trigger, market is lazy), so I was composed when a few pips went below the daily low.
DD is independent from the trading method (levels, break out, rebound). It depends on your trading style, i.e. how many trades you open. You can open only 1 trade >>> little DD, little profit. Or, more trades, as I do (when price reaches a ...
Meanwhile my original TP has been hit ..
+32 pips. I wasn't at my screen when the 2. trade has opened, and my profit target was calculated for only 1 trade. It is the reason of too early closing.
As I wrote at the first post, stop and profit target are at levels. The essence: RR can never be worse than 1:1.
Current situation ..
+20 pips on DAX. (Look at my missed pending as well .. )
While posting the previous one, there was a 25 pips rebound from daily low.
Current situation ..
Guys, thank you for the encouragement! Here is an older example on EURUSD (great levels):
Hey Ladies/Gentlemen, I opened the new thread.
Welcome there!
Hi Traders, Some words about me: I started my forex activity approx. 8 years ago .. blah blah ...
I see all the meaningful levels: used to use M30 for greater S/R levels, actual daily high/low, and the newly emerging on-the-fly levels which can be seen on my typical pictures. I dont use pivot points, only tops/bottoms. Screenshots: {MT4 Data ...