okay, guess that was rather an expendable question ... though some of as are rich nevertheless
okay, guess that was rather an expendable question ... though some of as are rich nevertheless
Candle final time has nothing to do about data feeds, it is all about server moment, in different words, it's the time your broker uses. If he's loed in the US, and particularly in NY, then chances are he's utilizing NY time,
If price makes higher highs and higher lows and abruptly starts to generate lower highs and lower lows, then price have reversed.
Sometimes if can pretend, but generally, that's the concept. In the event you are feeling when a trend has reversed, you may look in divergence and reversal patterns to find a hint,
but nothing is for sure, if we really knew when a trend have reversed we'd be rich
it depends on what your risk is to begin with, if sl is 100 pips and you also shut 20 you won't get a better risk to reward, if however you shut 50 percent or even more later 1:1 risk to reward, you cannot lose much if your discontinue get hit, and you also have the choice to move your stop to brakeven, this will be a marginally better win ratio, however you will decrease your profit using this method, however on the other hand, you don't need to take so much heat when the market goes against you, it is easy to make 1 to 1, and after that when you know you can not lose, there's no better feeling
I bet you do get stopped a lot on 1 min charts. But if it would attempt, this is what I'd do. I'm assuming I have the same area on my chart showing what I'd be seeing by adding a few lines.
I would highly suggest trading on 4 hr charts or higher until you understand more of what you are doing but I know its boring waiting for 4 hours to get a candle/bar to form.
Well I havent been trading for the last three decades.
Can you show me on this graph?
I kinda have success trading scalps on the 1M chart but I get stopped out a lot.
#8203;If it starts moving the other way lol. Most of us wish to know the answer to this question. Many people today utilize indiors others use moving averages, some use patterns and others utilize price action. My style of trading is based on patterns and price action. I do fairly good but I know I will get better, a lot better. I have been trading now for about 12 years and I still can not tell you the precise moment when price has reversed. There is not anyone in the history of trading, living or dead that could inform you if price has reversed. The key to trading isn't trying when it's reversed straight away, understand. The key is to see the change and snag several pips out of the market before it reverses again. I see you joined this forum 4 years back. I am not trying to set you down or anything but be ready to be trying to work this question in 4 years out from now.
If you have not checked it out yet, go to James16 Chart Thread. That can help you a bit.