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Plan the Trade

  • #6,681
  • Jul 19, 2018 5:08am Jul 19, 2018 5:08am
Quoting thomi
BUT {image}
Corrective moves are in 3 waves (ABC) and so a 123 that triggers counter-trend is always risky (especially in absence of regular divergence). Waves are fractal and thus the main ones will often break the trend, only to return back thereafter... (think break of sequence, followed by return to sequence - HH/LL/HH etc)

Always better to look for a 123 back into underlying trend.

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  • #6,682
  • Jul 19, 2018 5:11am Jul 19, 2018 5:11am
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  • #6,683
  • Jul 19, 2018 5:19am Jul 19, 2018 5:19am
Quoting The Cableguy
{quote} Here's what i think and i know that i am guilty of this one huge flaw... I over-trade... simply that! Having no position is a position. I find that i am always trying to work out what the next move is ALL the time, whereas, what is required is a more relaxed approach and only take the positions when they scream at you to take them. Wait until it looks right (and that of course is where experience and time is the biggest requirement).
Exactly right .. same here ... like Mr D said ... waiting only for the obvious supply and demand areas ... the ones that are so obvious in hindsight ... learning to see them in action as easily as seeing them in hindsight ... amazing how long that can take though ... my lives sessions was an eye-opener to how stress can override any habits that is not solidly engrained enough.
Never give up !!!
  • #6,684
  • Jul 19, 2018 7:07am Jul 19, 2018 7:07am
heres what i see from your chart CG. Putting on trades is the easy part a business plan must be attached so you can stay in business and draw income after all isnt that whats its all about
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  • #6,685
  • Jul 19, 2018 8:54am Jul 19, 2018 8:54am
+25 and -15
  • #6,686
  • Jul 19, 2018 8:59am Jul 19, 2018 8:59am
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  • #6,687
  • Jul 19, 2018 9:02am Jul 19, 2018 9:02am
Same as mine I tried the 930 candle for a loss
  • #6,688
  • Jul 19, 2018 9:13am Jul 19, 2018 9:13am
4 +1's so far:

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Become the casino
  • #6,689
  • Jul 19, 2018 9:23am Jul 19, 2018 9:23am
8250 to short
  • #6,690
  • Jul 19, 2018 9:24am Jul 19, 2018 9:24am
Canceled
  • #6,691
  • Jul 19, 2018 9:28am Jul 19, 2018 9:28am
Long 7150
  • #6,692
  • Jul 19, 2018 9:29am Jul 19, 2018 9:29am
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  • #6,693
  • Jul 19, 2018 9:29am Jul 19, 2018 9:29am
+25
  • #6,694
  • Jul 19, 2018 9:31am Jul 19, 2018 9:31am
Quoting thomi
{image}
stop
  • #6,695
  • Jul 19, 2018 9:34am Jul 19, 2018 9:34am
To everyone who has nerves or feels compelled to trade and thus ends up over-trading (I include myself in that bracket), try just watching and resisting the temptation to trade instead!

That way, instead of feeling like you've got to take a trade, you program yourself to only take them when you can not resist a nice obvious set-up.

I just started at about 10:20 and despite the urge to simply short the blue line (Extreme), i waited patiently for my target level and voila a +18 grab to start the sesion!

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  • #6,696
  • Jul 19, 2018 9:35am Jul 19, 2018 9:35am
Quoting Divergence
Long 7150
good spot
Become the casino
  • #6,697
  • Jul 19, 2018 9:37am Jul 19, 2018 9:37am
Limit at 6125
  • #6,698
  • Jul 19, 2018 9:37am Jul 19, 2018 9:37am
Quoting Divergence
Long 7150
its' not near 7150. what calendar month we lookin at here??
  • #6,699
  • Jul 19, 2018 9:37am Jul 19, 2018 9:37am
Crap missed cancel
  • #6,700
  • Jul 19, 2018 9:39am Jul 19, 2018 9:39am
Quoting Divergence
Long 7150
Snap! (chart above!)
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