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Nova Volume Trading System

  • #2,801
  • Jun 25, 10:14am (5 hr ago) Jun 25, 10:14am (5 hr ago)
Things aren't going so well today... This morning I tried a long position that met my criteria, but unfortunately it hit the stop-loss, and for the next position I just wasn't at my computer; I closed the last one at a 1:1 ratio because I didn't like the sideways consolidation anymore. We’ll see how it goes from here, but trading on the New York market doesn’t really suit me, especially right after the open—prices jump all over the place there, and trading on a one-minute chart right after the open is pretty risky.

I hope I'll have time to open something else tonight; otherwise, I'll leave it for tomorrow. I hope someone had a better day than I did.
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  • #2,802
  • Jun 25, 11:06am (4 hr ago) Jun 25, 11:06am (4 hr ago)
Quoting Mathony
Things aren't going so well today... This morning I tried a long position that met my criteria, but unfortunately it hit the stop-loss, and for the next position I just wasn't at my computer; I closed the last one at a 1:1 ratio because I didn't like the sideways consolidation anymore. We’ll see how it goes from here, but trading on the New York market doesn’t really suit me, especially right after the open—prices jump all over the place there, and trading on a one-minute chart right after the open is pretty risky. I hope I'll have time to open...
Switch to 15s chart and look

Also that 2nd trade wasn't good because price swept that earlier low where a pinbar/rejection was formed and left a large imbalance hence why price went sideways.

You'll see it basically sat in that imbalance when it was consolidating.
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You can lead a horse to water, but you can't make it drink
  • #2,803
  • Jun 25, 11:20am (4 hr ago) Jun 25, 11:20am (4 hr ago)
Quoting xkwisit2001
{quote} IC Markets is solid, they're one of the biggest brokers but in order to get higher leverage you need to do a questionnaire etc... What I meant by 1.5R is to take less than 2R not 1:5 lol
oh ok… so basically reduce the lot size
  • #2,804
  • Last Post: Jun 25, 12:32pm (3 hr ago) Jun 25, 12:32pm (3 hr ago)
Quoting CM-PunkFX
{quote} oh ok… so basically reduce the lot size
No not lot size... If you risk £100 to make £200 (2R).... Instead of doing that.... TP at £150 instead.

It means your target is smaller but if trading a small account or any account you want to build it up first.

I suggest trying to get 20R profit and then you can maybe look at increasing risk amount.

At the beginning it's of course harder because losses cut into your own money but once you're in profit it's basically free money.
You can lead a horse to water, but you can't make it drink
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