DislikedLittle Dax scalp. I initially targeted previous day's high, but got out in a spike up. {image} LuXingIgnored
hi Luxing, I like your template very much. Could you send your tpl file and indicators. You're welcome.
- #1,522
- May 12, 2020 9:00am May 12, 2020 9:00am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
Not brave enough to leap upon marked break of price. Will sit and wait awhile until gyrations slow down. My days of 'fast and furious' are long goneAnyone take the break short on the 200 line ? {image}
every Saint has a past. Every Sinner has a Future
A couple of trades today.
First on AUDUSD, I had an initial short trade due to the reaction of the channel to the sma. Rsi at that time was oscillating around 50, a bit below when I took it but that was a sign that the bearish strength was not strong. Plus, the momentum leading the channel to bounce at the sma was quite strong, so another sign I should have looked at more thoroughly.
On the plus side, once my initial trade was stopped out, rsi had gone bullish and we had a viable channel cross, so took the long trade and made up for my initial loss.
Second, EURJPY, channel cross on M5, price bounced off sma with a very strong rsi. As you can see, I could / should have left it as a runner because price smashed above my TP, but wasn't around at that time.
First on AUDUSD, I had an initial short trade due to the reaction of the channel to the sma. Rsi at that time was oscillating around 50, a bit below when I took it but that was a sign that the bearish strength was not strong. Plus, the momentum leading the channel to bounce at the sma was quite strong, so another sign I should have looked at more thoroughly.
On the plus side, once my initial trade was stopped out, rsi had gone bullish and we had a viable channel cross, so took the long trade and made up for my initial loss.
Second, EURJPY, channel cross on M5, price bounced off sma with a very strong rsi. As you can see, I could / should have left it as a runner because price smashed above my TP, but wasn't around at that time.
- #1,524
- May 12, 2020 9:05am May 12, 2020 9:05am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #1,525
- May 12, 2020 9:18am May 12, 2020 9:18am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Thank you so much for everything, Laura, you have added so much to me. {image}
Nice results. Well done!
- #1,526
- May 12, 2020 9:19am May 12, 2020 9:19am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Laura Please, Take this as a lighthearted post, the idea of trend lines is great and I have given it a like but I just cannot let you and the trader you spoke of top the (likes) table with a 9 as I type, now I do have to accept that often the simple ideas are the best, but I pre- draw mine with the help of ? Hope it draws a laugh and then on your command I will delete the post {image}
- #1,527
- May 12, 2020 9:25am May 12, 2020 9:25am
- Joined Jan 2015 | Status: Trader | 5,146 Posts
{quote} Lol. Very pretty, Dave
ps
not done for yet, waiting for you to read up on the material then I will hit you with the Big one (haha)
- #1,528
- May 12, 2020 9:36am May 12, 2020 9:36am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
US30 chart, 15 min (and it now seems to be rallying from where I took my loss 
)
Hiya Laura - this trade turned out to be a loser. Was wondering if there was any constructive criticism you could offer or if it was just one of those things? The channel had broken above the SMA price had then bounced off of the open and then again off of the SMA before I entered long. The bullish trend line was still holding as price had failed to close below it. I was targeting close to the projected ADR for my tp and my sl was just under the daily open. Thanks 
)Hiya Laura - this trade turned out to be a loser. Was wondering if there was any constructive criticism you could offer or if it was just one of those things? The channel had broken above the SMA price had then bounced off of the open and then again off of the SMA before I entered long. The bullish trend line was still holding as price had failed to close below it. I was targeting close to the projected ADR for my tp and my sl was just under the daily open. Thanks
- #1,530
- May 12, 2020 10:06am May 12, 2020 10:06am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Hiya Laura - this trade turned out to be a loser. Was wondering if there was any constructive criticism you could offer or if it was just one of those things? The channel had broken above the SMA price had then bounced off of the open and then again off of the SMA before I entered long. The bullish trend line was still holding as price had failed to close below it. I was targeting close to the projected ADR for my tp and my sl was just under the daily open. Thanks
- #1,532
- May 12, 2020 10:17am May 12, 2020 10:17am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
{quote} Cool, thank you. How about the positioning of my stop loss - was it too close or a reasonable place to put it?
Technically, the trade is still valid as channel above SMA on that timeframe. Taken from that perspective it could be said that the stop was too tight.
Conversely, it could be argued that you should have got out manually as soon as you felt you were wrong (the candle closing below the trendline).
So it depends. You either got out too soon or not soon enough
Depends on your risk profile and how you intended to manage the trade.
- #1,533
- May 12, 2020 10:18am May 12, 2020 10:18am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
- #1,537
- May 12, 2020 10:42am May 12, 2020 10:42am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
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