Understanding yourself is synonymous with understanding the markets.
FREE on KINDLE: The PlayBook by Mike Bellafiore 6 replies
Do The Trading Room 20 replies
DislikedThanks Mike and hope you have a great new year too. May I ask if you can expand the (your) concept behind ADX confirmations? it could be applied in others TF's?Ignored
I kept the target conservative given the price has been moving down consistently all day. 16.3 pips is good enough for me. Once again I really should have entered at the base of the zone.
Mike
DislikedAfternoon fellow traders! I hope you've had a splendid weekend. Time now to get back into the thick of things! While writing up this post, a short entry came up that I decided to take. Unfortunately I hadn't put myself into the correct mindset for trading yet and impulsively closed the trade early. I ended up with 3.5 pips of profit... two minutes later of course the price moved such that my 15 pip target would've been taken out. Let this be an example to all of us: prepare yourself emotionally before even considering pulling the trigger on a trade!...Ignored
Disliked{quote} morning. should have held that short longer i shorted at around 1.0975 and im +70 todayIgnored
Disliked{quote} That's one hell of a trade! Sounds like you've picked the absolute market top, rolling in itI was pretty frustrated with myself on that short trade... still it's in the past and we can only control our actions in the present. I picked the 1.0875 level to go counter-trend. Took a -5.3 pip hit getting in around 1.0886 but re-entered at the .75 level for a clean 10.5 pips. Got out earlier than 15 pips after some weird price action on the 15 minute chart. I'm using this chart to plan trades now that the market is moving further down....
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Dislikedmike would it be to much to ask what indicator you are using in post #2?. Looks like maybe support and resistance zone or maybe s&d zones with the shaded boxes. I've been looking literally everywhere for an indicator that shows tested zones with the shade. Or if someone reading this has some suggestions feel free to chime in. ThanksIgnored
DislikedI ended up calling it a night around 2 hours before the NY open yesterday, but here's the 15 minute channel array I setup. You can see that there are a couple of really nice setups that came up after about 2100hrs on the chart. Still happy with the session, took a clean +2.36% overall. Mike {image}Ignored
Disliked{quote} Hello there, I am just wondering if the lines on your chart are put there manually or is it a form of pitchfork?Ignored
Disliked{quote} appreciate the chart. I was a bit hesitant but went in as well at 1.0880. Does seem like a great opportunity for an easy 5 or so pips.Ignored