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Why is he showing you old charts? Starting to look fishy to me.
It's not 1 point scalps. The 1-2-3 breakout was 2 points.
A 1:1 risk reward is dangerous. It will take 1.5 wins to overcome 1 loss once you factor in spread and commissions.
Can you help answer these questions from other members on NexusFi?
If he's doing 70 lots you can almost be sure he's scalping. The entries take a couple ticks of heat at most. That's not indicator/chart pattern/candlestick trading.
For the initial short, its simply a pb to the ma which is permitted because the momentum indicator made a LL.For the ensuing long, there are 2 scenarios.
1)pricebottoms and makes a HL,and the momentum indicaor is diverging.This happened here.
2)price makes a LL, and we have a divergent double bottom
The key here, is the entry long makes sense after the previous swing hi taken out
.................Of course, why did es find a bottom here(temporary)?Pivot point?support?news?Who knows
This was already shown to me back then. I waited to find it myself how the trades happened. Of course, now I posted here so it's old for you. Nothing fishy.
The system taught to us is strictly taking 1 point (4 tick) profits with a 5 tick stop. He's very good winning 95% of his trades; don't ask me how and why I know this.
It's through some old members of Next Gen Trading systems. Basically looking at 987 and 610 tick charts and taking trades on moving averages and BBs.
The reason I asked here is because although I'm applying whatever I've been taught, I can't grasp it still. Whereas my friend takes trades counter trading based on what we're taught. And it seems endlessly confusing.
My goodness. I think this thread has an intrinsic value of zero.
A sketchy screen shot “from a friend” taken with a phone on what looks like an old CRT monitor, asking other traders how your so called friend trades. C’mon. This is ludicrous.
If this isn’t trolling, then I am not sure what is.
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- Trade what you see. Invest in what you believe -
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