Caught a 123 bouncing off of the 00 line and resistance for +5.
Before:
After:
Before:
After:
Trading is as simple as 1-2-3
- #4,362
- Aug 8, 2017 10:29am Aug 8, 2017 10:29am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
The 100 needed a bit of wrangling - again, not unusual on the indices - and it had hit the lock-in point anyway. Added a counter as it pushed higher and now in a second entry.
- #4,363
- Aug 8, 2017 10:31am Aug 8, 2017 10:31am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
There's also just been a move on Cable - not traded by me as a 1-2-3 as such, as I was on it via another of my methods. Knowing it was a 1-2-3 set-up made going in on the other doo-dah a stronger proposition, so all good.
- #4,364
- Aug 8, 2017 4:45pm Aug 8, 2017 4:45pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
The 100 needed a bit of wrangling - again, not unusual on the indices - and it had hit the lock-in point anyway. Added a counter as it pushed higher and now in a second entry. {image}
The US30 performed just as well - also with a Double-Tap entry - though I missed the drop on the way back down.
The DAX didn't go much farther than earlier and once again, I wasn't around to pick up the ''top'' to the ''tail''. Still excellent result, so no complaints.
See you all tomorrow to do it all again.
- #4,366
- Aug 9, 2017 3:39am Aug 9, 2017 3:39am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Short GU on the second bar +5 locked.
Have been focusing on trade size recently. Most "experts" recommend 1% risk. That has always seemed about right to me. I either take the straight 1% off my hard stop or figure it into a reverse leverage trade. Either way I am still risking 1%. On this particular trade I mistakenly put in too many units to the tune of 8% as it is very early in the morning 
. Luckily I caught the downside of the GU in time.
- #4,367
- Aug 9, 2017 3:53am Aug 9, 2017 3:53am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
The DAX may give something after all...maybe...
- #4,368
- Aug 9, 2017 3:57am Aug 9, 2017 3:57am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
GU +11, switched to 10 trailer...
- #4,369
- Aug 9, 2017 4:02am Aug 9, 2017 4:02am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Thanks to a heads-up from FlipFlopTrader, managed to catch this GBPAUD drop (not a pair I usually track).
Took it as a HAL-Special and all locked away - but will be looking for the chance to add to it on a pure entry.
Took it as a HAL-Special and all locked away - but will be looking for the chance to add to it on a pure entry.
- #4,370
- Aug 9, 2017 4:03am Aug 9, 2017 4:03am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Second entry off and running...
- #4,372
- Aug 9, 2017 4:08am Aug 9, 2017 4:08am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Go for it Lem.
- #4,373
- Aug 9, 2017 4:09am Aug 9, 2017 4:09am
Have been focusing on trade size recently. Most "experts" recommend 1% risk.
have you had some nasty streaks which lead to that 1% figure, or just a matter of appetite?I went in early on GBPUSD which felt a bit wreckless, but the M5 (below) seems to fit underlying concept - high was rejected, upward move seemed over-dramatic, time of day suggests new move may be on the horizon ... that closed for +5 but I wanted back in, so took second entry at the 'official' 123 hourly close. Just took half off the table at resistance from yesterday evening, leaving the remainder to fate
Also nabbed +10 off AUDUSD although looks like it might not make .7840 this decade
- #4,375
- Aug 9, 2017 4:39am Aug 9, 2017 4:39am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Remaining trailer on my GU trade got stopped out, but at +4.
- #4,376
- Aug 9, 2017 4:42am Aug 9, 2017 4:42am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Long JY +6 locked. Took a different approach on this trade. Looked for the set up on 1-2-3 and entered off my HOLO screen at the 5 min.
- #4,377
- Aug 9, 2017 4:51am Aug 9, 2017 4:51am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
{quote} Maybe synchronicity but I was thinking about this overnight, was planning to ask your approach today
I have read in numerous trading books 1% is the rational approach. As if most traders were rational.
And for me it seems right as I have said. Now take for example my mistake at 8%. I got lucky and the trade went my way. What I should probably have done was bailed on the trade immediately and taken the modest loss, instead of a much bigger one. Losses are not easy to recover, especially large ones. So from my risk style perspective it is better to be cautious than optimistic in trading. And having said that I still stuck with the 8% and lucked out.My JY trade went to +11 and is now on 10 trailer...
- #4,378
- Aug 9, 2017 5:25am Aug 9, 2017 5:25am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
My JY remainder trade on the trailing stop, in fact stopped for another +1.7. This EG I did not take but when I came in on trading today I saw I had my second bar trade set up. It did not fair well getting +3 and taking a -11 loss. Had I gone reverse the pain would have increased 5 fold as that failed also, and 1% loss would have been logged. This hour same second bar scenario. This time I was watching the HOLO screen on it and broke above at the start. Got +10 this time.
- #4,379
- Aug 9, 2017 7:43am Aug 9, 2017 7:43am
- Joined Apr 2011 | Status: Trader | 3,454 Posts
Interesting PA on this NZ. I took the first entry for +5 off the HOLO chart which broke quickly lower. It went back up stopped out and made a new high. It then set a qualified entry on the 5 min. HOLO for another +5. A double dip.
- #4,380
- Aug 9, 2017 7:47am Aug 9, 2017 7:47am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Updates.
The GA is still truckin'...
The DAX, however, is a bust. I got no sort of move away before the entry level and in fact price pushed all the way through the zone, which then changed to a Turncoat Zone, with another just below as well. Not good.
Discretion being the greater part of valour, I bailed and took the hit. The only good thing was, I now had price in a channel, which bode well for a quick bounce-and-rebound set-up. Sure enough, that's what I got and managed to recover most of the loss on the second entry.
All of this was more than covered by the moves I was in on over at the GA anyway, so I wasn't too fussed.
The GA is still truckin'...
The DAX, however, is a bust. I got no sort of move away before the entry level and in fact price pushed all the way through the zone, which then changed to a Turncoat Zone, with another just below as well. Not good.
Discretion being the greater part of valour, I bailed and took the hit. The only good thing was, I now had price in a channel, which bode well for a quick bounce-and-rebound set-up. Sure enough, that's what I got and managed to recover most of the loss on the second entry.
All of this was more than covered by the moves I was in on over at the GA anyway, so I wasn't too fussed.