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1.) We dont find and learn your edge. We must master one or 2 high probability set ups.
2.) We dont have a Trade Plan. We must know our business Plan and money management
3.) We dont have a defined Goal, what is your daily target, weekly and monthly target
4.) We think if we take this trade or that trade we will make. We are competing against Algos and unlimited pockets
Spend time to read the charts, just pure price action, Go watch one market like ES.
See how it works and behaves. Then look at the chart in 15 second interval. We the retail traders are taught to take 5 or 10 or 15 minute charts.
We enter a trade and it retraces to hit our stop and only then it goes in the direction of your trade. But if you enter in smaller time frame with your defined levels things will start to make sense.
We must learn PRICE ACTION. nothing comes close, indicators are lagging, indicators only plot after the price has moved. It will never give you the edge. Why are there thousands of indicators yet none gives that edge.
We the little guys keep searching for that magic indicator. Its not there.
Learn the instrument and go with say $125.00 per trade profit. Take the next set up that is predefined for you in your trade plan to give you an edge.
Do this for 5 days. Yes there will be losses. Repeat this again and soon you will build confidence. Repeat this for 3-4 weeks. Then add another contract and do the same.
Compound the account just like Ace system teaches you and you still do the same thing over and over. You will end up trading 5 to 10 and then 10 to 20 contracts but taking that same set up that happens everyday.
Keep it super simple, never over trade and as Ace says dont get greedy and give it back. Stick to your plan.
Plan your trade and Trade your Plan and Keep your Greens.
Attended trial. Carnival room. nothing useful. Throwing people out and moving blue lines all over the place . Buy now ...sell now ..its going up folks. longs...no shorts..took out .75 pivot now short now longs. Everyone got that 5 pts.
Draw a line anywhere on a chart. If price is below sell the line with a .75 to 1.50 probe stop. when stopped buy at the line with a .75 to 1.5 stop and keep switching and enjoy the many small stops. Eventually you will catch doubles. triples whole hands , fake hands many hands ect..
Tied her trial and she uses 10-12 second charts on the ES. 12 seconds on GC and 12 on CL. Draw a line anywhere on your chart, if price is below sell the line with traders floor probe .75 as stop. If it hits yo probe buy that line and use .75 probe as stop over and over....you get lots of 1 point stop and chop but you eventually get 5 point straights and flushes...and enjoy the polka music...all this for 3650. Her system would work well if she can avoid the stop and chop.
New to this forum and wondering if anyone has recent experience with Ace Trades. I sat in on a few live sessions and the support/resistance line that was used proved effective and profitable for those in the room. Not sure what determines that line and curious about how those execute during fast moving markets of late. Thanks for any feedback on insights
Those lines are part of Ace's 9 Keys and over time students learn and are able to draw those lines on their own.
Yes i do use the methodology and personally have learnt a lot from Mr Ace and this is all based on my own personal experience.
It will take a while to unlearn and then to trust the calls or the Keys, just the human nature.
The trading becomes easier when you have the edge with the probability of targets
People need to find a methodology that suits their method of trading or are willing to unlearn and relearn. Otherwise as the saying goes.
Doing same thing over and over but expecting a different results will never get you making money on daily basis.
May be join in again for a free trial to evaluate it for yourself.