From what position in the cycle are you supposed to trade the "M" and "W" patterns...forexgeeker » Thu Oct 22, 2015 11:50 am wrote:
Hi Sympathy,
Quick question,what makes you hold this trade.? we can clearly see there's a W formed there..I was in with sell as well near the top as price look 'choppy'...But exited when I see the first leg of W forming...Then I wait for 2nd leg then reversed my position and then
Captain Jack » Thu Oct 22, 2015 12:08 pm wrote:From what position in the cycle are you supposed to trade the "M" and "W" patterns...forexgeeker » Thu Oct 22, 2015 11:50 am wrote:
Hi Sympathy,
Quick question,what makes you hold this trade.? we can clearly see there's a W formed there..I was in with sell as well near the top as price look 'choppy'...But exited when I see the first leg of W forming...Then I wait for 2nd leg then reversed my position and then
-CJ-
whenever we are in level3 always expect a run from fox. i was expecting that fast moves that was why i didn't exit, you have to learn how to hold on price whenever fox shakes us out.forexgeeker » Thu Oct 22, 2015 4:50 pm wrote:
Hi Sympathy,
Quick question,what makes you hold this trade.? we can clearly see there's a W formed there..I was in with sell as well near the top as price look 'choppy'...But exited when I see the first leg of W forming...Then I wait for 2nd leg then reversed my position and then
sympathy » Thu Oct 22, 2015 2:02 pm wrote:whenever we are in level3 always expect a run from fox. i was expecting that fast moves that was why i didn't exit, you have to learn how to hold on price whenever fox shakes us out.forexgeeker » Thu Oct 22, 2015 4:50 pm wrote:
Hi Sympathy,
Quick question,what makes you hold this trade.? we can clearly see there's a W formed there..I was in with sell as well near the top as price look 'choppy'...But exited when I see the first leg of W forming...Then I wait for 2nd leg then reversed my position and then
"W" and "M"'s are best traded from the peak low and the peak high...forexgeeker » Thu Oct 22, 2015 12:15 pm wrote:Captain Jack » Thu Oct 22, 2015 12:08 pm wrote:From what position in the cycle are you supposed to trade the "M" and "W" patterns...forexgeeker » Thu Oct 22, 2015 11:50 am wrote:
Hi Sympathy,
Quick question,what makes you hold this trade.? we can clearly see there's a W formed there..I was in with sell as well near the top as price look 'choppy'...But exited when I see the first leg of W forming...Then I wait for 2nd leg then reversed my position and then
-CJ-
Hi Captain,
Thank you for your comment...When I saw that 'W' I was thinking price might go up and form a 2nd leg of 'M'..
I'm wrong,lesson learned... :hi:
Captain Jack » Thu Oct 22, 2015 2:19 pm wrote:"W" and "M"'s are best traded from the peak low and the peak high...forexgeeker » Thu Oct 22, 2015 12:15 pm wrote:Captain Jack » Thu Oct 22, 2015 12:08 pm wrote:From what position in the cycle are you supposed to trade the "M" and "W" patterns...forexgeeker » Thu Oct 22, 2015 11:50 am wrote:
Hi Sympathy,
Quick question,what makes you hold this trade.? we can clearly see there's a W formed there..I was in with sell as well near the top as price look 'choppy'...But exited when I see the first leg of W forming...Then I wait for 2nd leg then reversed my position and then
-CJ-
Hi Captain,
Thank you for your comment...When I saw that 'W' I was thinking price might go up and form a 2nd leg of 'M'..
I'm wrong,lesson learned... :hi:
-CJ-
We've all been there, including me, many times over. It's how we learn to not make the same mistakes in the future. Too many people fail to post their losing trades and we never get to discuss them. I wish Sponn had posted the trades that blew his account but unfortunately, he didn't so there is no way to fix that.forexgeeker » Thu Oct 22, 2015 2:28 pm wrote:
Thank you Captain..this is what happen when one attempt to make a picture "Perfect trade"...
A valuable lesson learned today...
You know am always with youWisznu » Thu Oct 22, 2015 9:16 pm wrote:When I started to learn this I blew few accounts too(who didn't?). I think that most popular reason of failing is that people are focused on looking for W's/M's, ABC's or another reversal pattern, and forgots about pushes and levels. I think this is the main reason why I failed at the beginning. Second reason was wishing for price to reverse when I saw mistake instead of close bad trade(so stupid!). I had few weeks of a break and I'm back with micro account right now. Still learning
Sorry for grammar mistakes.
A/U H1 looks good. Anyone with me?
