My system is based on drawing some magic lines in a chart and some price action analysis. My EA only is a line testing robot, when I decide that a pivot point is likely to form on one of those lines I switch it on and walk away.
Mismatch between live forward testing and back testing 4 replies
Trading the magic lines 30 replies
Magic Lines...? 133 replies
DislikedWeek wrap up: I end the week here. So many things to study about. This week has been mixed, good decissions and bad decissions. I've picked 3 or 4 tops by 1-3 pips, I've breakeven by less than a pip in 100 pips moves, that have conducted me to revenge trading and impulsive trading. Most of the losses have come from this attitude, if I can get rid of those bad habits, I can increase my win % more than a 25%. The good thing is that I'm in synch with a few markets and I can read their moves as an open book. Hope this next week I've better results....Ignored
DislikedWeek wrap up: I end the week here. So many things to study about. This week has been mixed, good decissions and bad decissions. I've picked 3 or 4 tops by 1-3 pips, I've breakeven by less than a pip in 100 pips moves, that have conducted me to revenge trading and impulsive trading. Most of the losses have come from this attitude, if I can get rid of those bad habits, I can increase my win % more than a 25%. The good thing is that I'm in synch with a few markets and I can read their moves as an open book. Hope this next week I've better results....Ignored
DislikedIf you feel lost, take a step back, redraw your charts and see the light. EURUSD: Last week I was really anoyed, I was not able to see where this pair was going. Now it's clear. This pair is completing what I call a lesbian setup. An upward pitchfork breaks and price falls until it mets a downward sloping pitchfork that started more or less at the same time the upward pitchfork began. Any of those red lines will serve as support or ressistance next week. Here is the map, you can navigate with a map, go ahead and use it for your advantage. {image}...Ignored
DislikedI'm investigating a possible setup. I have heard stories about a setup called the megaphone... It's a very powerfull and rare trend change setup. I think I have spoted one in EURUSD M5. If right, it should go today bellow yesterday low (1.117). Now we are at 1.225, perfect entry would be at setup breakout (1.2343). Setup explanation, price forms a possible downward pitchfork that fails, after the breakout of that pitchfork price can't rally more because can't break highs. The result is the formation of this megaphone structure. {image} Todays setup...Ignored