Mike, you’ve got some fantastic information here and I have really appreciated and benefited from! With all these ideas floating around, they all work quite well for entries, but how do they work for exits. If you could make a video exclusively about exits and scaling down positions that would be fantastic. I truly believe that entries are 40% of the game but exits are 60%, that’s where the reward of the risk/reward ratio comes from. Thanks for the content!
Right off the bat you should have a stop and exit as soon as you enter a trade. Defined risk/reward. Meaning if your risk is 3 points your reward should be 2-4x that or whatever fits your strat.
I agree with @Shaolin_Chris at a minimum you should have have a stop and exit as soon as you enter the trade just to protect you from the markets and yourself. You can always adjust depending on market conditions.
I already have that set up so I know the risk and reward going into the trade and have a ton of back testing on it. I will usually leave about 25% on as a runner, because we never know how far the market will extend in a move. I suppose looking for key exhaustion or absorption happening where the price can’t break through would be a solid exit.
@@forexbusiness6187 Consider two of the most widely used applications in the forex market. They can aggregate open positions to one server from all brokerages.
Hi Mike, I am from India. May I ask what data provider you are using. What is the plan for GC futures data feed. Please do create one video on data connection, prices and adding Gold futures chart. Please please please.....
What do you have your stack imbalance percentage/ratio at? Also, isnt the footprint only market orders? You mentioned the 181 seller so I thought that would be a buyer. TYA.
Hey mike, is it advisable to trade the forex market (EURUSD, GBPJPY etc..) using Footprint Chart ? and what time frame is recommended to use for entries ?
Correction: 181 was the buyers buying at the ask price.
Mike, you’ve got some fantastic information here and I have really appreciated and benefited from! With all these ideas floating around, they all work quite well for entries, but how do they work for exits. If you could make a video exclusively about exits and scaling down positions that would be fantastic. I truly believe that entries are 40% of the game but exits are 60%, that’s where the reward of the risk/reward ratio comes from. Thanks for the content!
Right off the bat you should have a stop and exit as soon as you enter a trade. Defined risk/reward. Meaning if your risk is 3 points your reward should be 2-4x that or whatever fits your strat.
I agree with @Shaolin_Chris at a minimum you should have have a stop and exit as soon as you enter the trade just to protect you from the markets and yourself. You can always adjust depending on market conditions.
I already have that set up so I know the risk and reward going into the trade and have a ton of back testing on it. I will usually leave about 25% on as a runner, because we never know how far the market will extend in a move. I suppose looking for key exhaustion or absorption happening where the price can’t break through would be a solid exit.
2:34
It's thirty contracts there, but many stop losses in the forex market there, and big guys see them.
that's the thing. we really don't know.
How can big guys or small guys or any guys see stop losses in the fx market when its decentralized?
@@forexbusiness6187 Consider two of the most widely used applications in the forex market.
They can aggregate open positions to one server from all brokerages.
thanks for the video great content , appreciated it !!!
Where can you find this tool foot chart
Can’t find it anywhere
loving it . Thank you
Thank you too!
Hi Mike,
I am from India. May I ask what data provider you are using. What is the plan for GC futures data feed. Please do create one video on data connection, prices and adding Gold futures chart.
Please please please.....
What do you have your stack imbalance percentage/ratio at? Also, isnt the footprint only market orders? You mentioned the 181 seller so I thought that would be a buyer. TYA.
Market buyer=Limit seller
Market seller=Limit buyer
those are supplies basically and market orders are demand
Hey mike, is it advisable to trade the forex market (EURUSD, GBPJPY etc..) using Footprint Chart ? and what time frame is recommended to use for entries ?
how do we differentiate that these are trapped sellers here or passive buyers @5:31
Where can I get foot print charting software
www.orderflows.com/oft6.html