Disliked{quote} Yeah it looks like it. That is a big wick though, and I suspect we might close higher than we are just now. A close above yesterday's high might bring DR2 back into play?Ignored
2
Trading Rules for die-hards... 47 replies
Trading Systems work for 6-12 mnths then die? 14 replies
5 Rules to Trade or Die By 5 replies
Trading Live Against The Beast--Gbd/Jpy--(Do Or Die)-- 3 replies
die young 8 replies
Disliked{quote} Yeah it looks like it. That is a big wick though, and I suspect we might close higher than we are just now. A close above yesterday's high might bring DR2 back into play?Ignored
Disliked{quote} Was waiting for a short break after 1:15pm on Gold, but it never happened. Long break has happened but a lot of resistance in this area so I'm on the fence for now. GU is on fire. Claudia let me know when you begin selling, I'll join the club lol.Ignored
Dislikedyaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay lol. Cable 08-00 bar, High broke for +5% and a bag full off that cheeky retrace long.. those retrace trades can and do fail, but if they fail you lose less. Trade well all. t 08-31Ignored
Disliked{quote} interesting and logical. i do that also sometimes when i am in a good mood;-) when you do your collecting of the retrace trades inside a pattern, do you use much smaller positions or the same of the original position size?Ignored
Disliked{quote} Hi Bud, hope you are well. i was trading the 08-00 15 bar break with my big trade , so i trade the same with a retrace trade. This doesn't happen too often with my main trade. my retrace post was at 08-21 and then shortly after i went long. {image}A = area i went long just after the post, BUT B was the bar that made the %%%. it moved fast. It happens. i almost closed trade for +1 or 2 lolIgnored
Disliked{quote} Morning Billy, so in this case a retrace trade is where you go in the original direction of the break, but only after price has retraced a bit, is that correct? I sometimes get mixed up with retrace trades and counter trades lol.Ignored
DislikedRetrace Trades, Lem has a name for these sorts of trade, i call them more opportunist. Let me explain . 08-00 bar, High=13149... Low = 13134... So range is 15. {image}1 = High broke. 2 = then retrace down into 08-00 range. 3 = lets say, we enter a long retrace at here at 13142, SOOOOOO if it loses , we lose 8 and not 15. 15 being the original long off high break. So we enter long and it did drop more =4, then up it went. We can use this trade as a first trade,, we might lose some entries but it is good. Trade well all.Ignored
Disliked{quote} Makes perfect sense Billy. It means you are getting in at a better price in the direction of the original break (especially if the original break is not one's preferred direction), and if it fails, there's a heck of a lot less to counter. Lem calls them wick zone trades. He would normally buy/sell as price leaves the wick of a candle. More prone to whip I suppose but it means less to make up if it goes wrong.Ignored
Disliked{quote} Absolutely correct. Another one i do, if we have the 00-00 range which normally has a bigger range. Example, if low breaks then retraces short it , if it drops either close it or hold so you make the original break plus 5, lets say you close the short whilst it is still in the range area and then it moves up again, Short it again, if it goes up short it, You can keep shorting until the actual +5 is made OR if it actually does fail. NOW THE KILLER, forget the +5 , lets say we are hunting the adr we can make a lot of ££££££££ /$$$$$$$$...Ignored
Disliked{quote} Hi Bud, hope you are well. i was trading the 08-00 15 bar break with my big trade , so i trade the same with a retrace trade. This doesn't happen too often with my main trade. my retrace post was at 08-21 and then shortly after i went long. {image}A = area i went long just after the post, BUT B was the bar that made the %%%. it moved fast. It happens. i almost closed trade for +1 or 2 lolIgnored
Disliked{quote} Makes perfect sense Billy. It means you are getting in at a better price in the direction of the original break (especially if the original break is not one's preferred direction), and if it fails, there's a heck of a lot less to counter. Lem calls them wick zone trades. He would normally buy/sell as price leaves the wick of a candle. More prone to whip I suppose but it means less to make up if it goes wrong.Ignored