followNev wrote:firstly thank you to Steve and Captain for the thread and the heads up.

I am a great believer that anyone can learn to trade but being taught to trade is almost impossible.
However, once a trader has tried, tried and tried again to understand a lot of concepts to do with trading, sometimes someone comes a long and clears away the fog and highlights the simple truths.

I'm a big fan of no indicators and the indicators that I put on the charts every now and then are some what of a comfort blanket when I feel Fearful or Lost, or maybe stabilizers when I feel a little unsure of what the charts are telling me.

However, one thing that I read / learnt or ingested somewhere along the trading journey was that trading should be easy and the trades should jump off the chart , punch you in the face and as it does that your instant reflex as a trader should be to take the trade.

I really started to go back through the charts and put into practice a few things that Captain Jack has written in this thread and look for the patterns that repeat and that I know are to be High Probability set ups.

Today has been a good day and although the month has been a bit of a damp squib for my trading today has brightened my day/month and year and I feel glad to be able to tell myself "it only takes 1 good trade , to get back on track". I can say without prejudice all the losses this month were many and small , compared to the win this trade, thanks to Captain Jack and our merry bunch of trading folk has made me.

Sorry for the big ramble, I just wanted to say THANK You. !

The trade

AUD/USD.
Started by scanning the charts for a reversal or topping pattern. Found this one on the AUD/USD H4 chart http://content.screencast.com/users/fol ... estick.gif

hanging man is a high probability pattern but I needed some confirmation that this could be at the top of a move.

There had been 3 obvious pushes up, keeping with one of Captain Jacks confluence set ups.
http://content.screencast.com/users/fol ... s%20up.gif
For my benefit I placed a CCI indi on the chart just to make sure we were still at an extreme.

Moved down to an m15 chart, waited for an M to start forming, got the two peaks and for my own benefit of being sure, waited for price to close below an 8 EMA
http://content.screencast.com/users/fol ... attern.gif

Kerching ....

Lifesys wrote:re ScaledInPendingTrades with risk based volume.
CJ
You have inspired me, as a mathematician & grateful learning trader, I jigged a Scaling trade Script (from tigpips FF) to suit the style we are honing. At a price on a chart, drop a series of scaled-in Pending Orders at preset intervals with SL & TP. Added features incl fixed(yellow), logarithmic(blue) or linearly(magenta) reducing Vol. for any number of child pending trades. SL & TP can be same price or relative to each trade start.

ScaleVolume.gif

Best feature for learners (like me) is option that Total Volume of series be %Account Risk based, so each trade is auto calculated relative to total RiskPercent, enabling safer scaling of pending orders whilst we build.
I find this increases confidence to drop a series on the chart. If pending trades do not fire (some missed last night) invoking ScalingScriptCloseALL can close All(Yes) or delete PendingOnly(No) trades with corresponding MagicNumber on that sheet.
Strongly advise 'ReadMe' first, if new to scaling. Guide notes attached.
May be useful to others & a way of saying thanks as we work toward our 'green' chart history