EURAUD

Why Simple is better in trading and Complex is not

For the way I trade, the opening price in my opinion is very important, especially the opening price of the 4hour and daily candles

Why Simple is better in trading and Complex is not

It's just what I prefer to do. I most likely did have a buy order for step 1 but it would not have been hit due to the market not dropping enough, that level would of been confirmed as hit though, so I would of then disregarded it and moved on.

Why Simple is better in trading and Complex is not

Set and forget. Regarding the top one when you say this was set up here, I personally would not have took that position, because as you can see that move away from that area had already been hit once (think of it in terms of steps, the first step is ...

Why Simple is better in trading and Complex is not

Once an area has been hit during the current move, I don't use it again, I only look for areas which have not been hit previously so I try to get in on the very first move away from an area.

Why Simple is better in trading and Complex is not

Carrying on with that last quote, outlining indecisiveness and the larger wicks on the 4hour charts. Provided the market has not been back to that wick you can normally expect a decent move away from it giving you a r:r of 1:1, good if you just want ...

Why Simple is better in trading and Complex is not

Yeah and that

Why Simple is better in trading and Complex is not

It allows you to get in at the very start of moves, often accurate to the pip and then it bounces away.

Why Simple is better in trading and Complex is not

That is Forexgogo's chart

Why Simple is better in trading and Complex is not

1, No, that particular candle in question isn't fresh, meaning price chopped about for a bit without really going anywhere right after it, the candles you want to look for are the opposing ones right before any sort of move away from it, so when the ...

Why Simple is better in trading and Complex is not

Interesting indeed, will have to see how it plays out The turning points often line up with fib levels from what I've noticed.

Why Simple is better in trading and Complex is not

That one with the X by it, I would not have of gone long there, as that particular area had already been hit once already. But should the market drop to that area, it would be an ideal to scalp it @ 1:1.

Why Simple is better in trading and Complex is not

I don't always go for 1:1, I only do that if I'm scalping those areas, I tend to go for 1:2 or 1:3+. Regarding win rate, according to myfxbook, I made 18 trades last week, 14 wins, 4 losses.

Why Simple is better in trading and Complex is not

The best way I can explain it is, as the market moves it leaves behind clues of where IF the market returns to that particular area, it will bounce away from, so for example, say we are looking at the 1 hour charts and there is a large bullish move, ...

Why Simple is better in trading and Complex is not

Yeah, a few pips above or below the opening price depending if it's a buy or sell usually does the trick.

Why Simple is better in trading and Complex is not

the 50ema is the only thing I use, even then it's just there as a guide if I used oscillators or moving averages to make my entrys, ignoring the way I trade now by using the opening price of certain candles, I wouldn't be able to sell as high or ...

Why Simple is better in trading and Complex is not

You know, you really do not need to use any indicators, they don't indicate anything at all.

Why Simple is better in trading and Complex is not

I just look for areas where the market was indecisive but then moved away with conviction, I will then have a buy or sell order just above the opening price of the opposing candle right before the move.

Why Simple is better in trading and Complex is not

I've always said the candlesticks tell you everything you need to know, especially where the large orders are. Not when x crosses y or any of that

Why Simple is better in trading and Complex is not

Thats the idea When it grows a bit bigger I'll probably drop the % down even more, while still risking a considerable amount of money.

Rags to Riches in 10 or 20 Trades - Simplicity at its finest