out at -50
Ratios & Harmonics: a Different Way to Trade
- #39,267
- Apr 4, 2018 10:55am Apr 4, 2018 10:55am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #39,276
- Edited 2:32pm Apr 4, 2018 12:36pm | Edited 2:32pm
Couple more nervous trades, managed them a little too tight and could have had quite a bit more if I gave them a little room.
Edit: Another one managed too tightly. 20 points but should have been more like 50!!
Reedit: Should have been 70 pips, the 1:1 just completed on that last trade.
Edit; finished the day with +112 pips, a good day.
Edit: Another one managed too tightly. 20 points but should have been more like 50!!
Reedit: Should have been 70 pips, the 1:1 just completed on that last trade.
Edit; finished the day with +112 pips, a good day.
- #39,277
- Apr 4, 2018 1:14pm Apr 4, 2018 1:14pm
Two trades on forex E-Micro futures opened overnight.
MIJY - Triggered sometime around 3AM EST. I moved to BE+ perhaps before I should have and got taken out on a deep retracement. Set a new entry but it will only trigger if price moves a little deeper than before. Good R:R if it does hit. Hopefully won't be until after 6pm or so as broker charges me $5 a trade financing for holding through end of day. That turns a 2 point break even to a 6 or 7 point break even.
M6E - Triggered sometime around 2:30AM EST. Still riding a complex correction here. If I had properly set my TP I would have been in and out for +39 before I even woke up. As it stands though I'm feeling pretty good about a move to the upside.
Laughed at myself on one trade this week as I didn't pay proper attention that two of the EMicro futures are inverse of standard forex pairs. All of these futures have the USD as the quote currency. So, in forex it's USD/JPY. With the EMicros it's JPY/USD. Forex is USD/CAD, futures is CAD/USD. The contract specs at CME has them listed backwards on their "Minimum Price Fluctations" column....not that it's wrong, just confusing. I should have noticed this early on. Live and learn!
Hope everyone is doing well today!
MIJY - Triggered sometime around 3AM EST. I moved to BE+ perhaps before I should have and got taken out on a deep retracement. Set a new entry but it will only trigger if price moves a little deeper than before. Good R:R if it does hit. Hopefully won't be until after 6pm or so as broker charges me $5 a trade financing for holding through end of day. That turns a 2 point break even to a 6 or 7 point break even.
M6E - Triggered sometime around 2:30AM EST. Still riding a complex correction here. If I had properly set my TP I would have been in and out for +39 before I even woke up. As it stands though I'm feeling pretty good about a move to the upside.
Laughed at myself on one trade this week as I didn't pay proper attention that two of the EMicro futures are inverse of standard forex pairs. All of these futures have the USD as the quote currency. So, in forex it's USD/JPY. With the EMicros it's JPY/USD. Forex is USD/CAD, futures is CAD/USD. The contract specs at CME has them listed backwards on their "Minimum Price Fluctations" column....not that it's wrong, just confusing. I should have noticed this early on. Live and learn!
Hope everyone is doing well today!
