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  • #5,341
  • Apr 27, 2023 1:11am Apr 27, 2023 1:11am
Lets see how this pans out,
Being aware of yesterday's high possible target and can as well act as a resistance at today's high
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  • #5,342
  • Apr 27, 2023 1:26am Apr 27, 2023 1:26am
GU potential going south RSI still above 40
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  • #5,343
  • Apr 27, 2023 1:33am Apr 27, 2023 1:33am
Quoting mckeep
Lets see how this pans out, Being aware of yesterday's high possible target and can as well act as a resistance at today's high {image}
Target reached
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  • #5,344
  • Apr 27, 2023 1:36am Apr 27, 2023 1:36am
Quoting mckeep
Lets see how this pans out, Being aware of yesterday's high possible target and can as well act as a resistance at today's high {image}
Looks like it hit yesterday high. Hopefully you took some profit!
  • #5,345
  • Apr 27, 2023 1:36am Apr 27, 2023 1:36am
Quoting mckeep
GU potential going south RSI still above 40 {image}
Wrong
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  • #5,346
  • Apr 27, 2023 1:41am Apr 27, 2023 1:41am
Quoting mckeep
{quote} Wrong {image}
Looks like it bounced off of daily open. Might be able to flip and go long if it can put in a higher low
  • #5,347
  • Apr 27, 2023 1:46am Apr 27, 2023 1:46am
Quoting mckeep
{quote} Wrong {image}
Waiting for a channel failure before going North
  • #5,348
  • Apr 27, 2023 1:47am Apr 27, 2023 1:47am
Quoting ianhjulberg
{quote} Looks like it bounced off of daily open. Might be able to flip and go long if it can put in a higher low
You are right, unfortunately i had not set the daily open line,
  • #5,349
  • Apr 27, 2023 1:49am Apr 27, 2023 1:49am
Quoting ianhjulberg
{quote} Looks like it hit yesterday high. Hopefully you took some profit!
yes i did, i actually closed the trade, now watching to see its next move
  • #5,350
  • Apr 27, 2023 3:46am Apr 27, 2023 3:46am
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Got lucky on this one as some economic news obviously came out and price spiked my way. Could have easily gone the other way, but I'll take the good break!
  • #5,351
  • Apr 27, 2023 4:18am Apr 27, 2023 4:18am
Quoting ianhjulberg
{image} Got lucky on this one as some economic news obviously came out and price spiked my way. Could have easily gone the other way, but I'll take the good break!
Nice trade
  • #5,352
  • Apr 27, 2023 4:39am Apr 27, 2023 4:39am
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Took a loss here on Oil

Entered after price looked like it broke daily open line
Should have exited when price broke my trendline, but I held a little longer and price spiked up giving me a bigger loss *shaking head*
Also, not a great entry point
  • #5,353
  • Apr 28, 2023 2:18am Apr 28, 2023 2:18am
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Took a small loss on Gold

Channel did not cross 200 sma at the time of my exit, but it was breaking my trendline and I figured I would cut my losses short and if I see some bars close below the channel I can always re enter.
  • #5,354
  • Apr 28, 2023 2:30am Apr 28, 2023 2:30am
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Even though it was a win, I wasn't paying attention and price got away from me for my exit

Luckily I took off half of the position down towards the bottom, but I let price get too high before I closed the rest.

Oh well, a win is a win
  • #5,355
  • Edited 5:31am Apr 28, 2023 5:15am | Edited 5:31am
Quoting ianhjulberg
{image} Even though it was a win, I wasn't paying attention and price got away from me for my exit Luckily I took off half of the position down towards the bottom, but I let price get too high before I closed the rest. Oh well, a win is a win
I have observed some of your charts which leads me to ask this question, (hopefully helping you)

Do you have rules for entry and exiting, especially when trading a 1 min chart.

As per your post above---------you blinked and---------- $$$$$$$$$$$$ slipped away, a story many folk experience trading what-------IMO is almost impossible unless you are a screen jockey who can not only stay awake but more importantly make immediate decisions, ON THE FLY.

Criticism without explanation does not achieve anything---If I may, let me review your chart above.
a------The trendline down showing overhead resistance is good and something I also do.
b------At the bottom of your chart where the trendline cut price--was a signal for you to act. Immediately and without hesitation.
c------Approximately 13 odd bars later that DOWN trendline gave you the next signal where the trendline is now showing price SUPPORT---a sign t to take action immediately, remember we are in a 1 min time frame, so you have no time to try an think what to do.

Apologies to everyone here on FF for expressing my 2 cents worth.

If you FAIL TO PLAN----eventually, you will surely FAIL in this game.

I wish you well mate, sorry to be so blunt but it is necessary to understand what you are doing, my apprenticeship is not complete yet and there are folk here that can do it better than me, but I am sure they will agree that, you need education.

Good luck.
Ben
  • #5,356
  • Apr 28, 2023 5:52am Apr 28, 2023 5:52am
Quoting btrfx1
{quote} I have observed some of your charts which leads me to ask this question, (hopefully helping you) Do you have rules for entry and exiting, especially when trading a 1 min chart. As per your post above---------you blinked and---------- $$$$$$$$$$$$ slipped away, a story many folk experience trading what-------IMO is almost impossible unless you are a screen jockey who can not only stay awake but more importantly make immediate decisions, ON THE FLY. Criticizm without explanation does not achieve anything---If I may let me review your chart...
I do have rules. I just have a hard time following them sometimes

-Find opportunities where there is a clear trend in place (higher highs and higher lows / lower highs and lower lows)
-Checking RSI and MTF for bias
-Make sure not to enter if daily open / previous high/low / etc is in the way. Wait for price to clear them and retest.
-Use trendlines and speedlines to time entries and exits
-Take profits at logical areas (daily open, previous h/l, adr, speedlines)

I will admit, my discipline has not been great in my short trading career, but I am working HARD on sticking to the rules that Laura has laid out for roadmap. I've done better by making fewer mental errors than I used to, but I know I still have a long way to go in that regard. I'm still going through this thread over and over to try and catch things that I have missed previously (I'm a slow learner).

I will continue to tweak my trade plan as I learn more about this system and strive to improve my discipline in executing said plan.

Also, I should probably consider trading higher timeframes, but that's a battle i have to fight with my ADD lol.

Btw, the reason I missed my exit on that dow trade was because I was posting my chart for a previous trade when price spiked up *shaking head*. Usually I'm pretty fixated on the charts.

I do appreciate your constructive criticism though Ben (it's always welcome). It just reaffirms what I thought to already be true! So thank you.
  • #5,357
  • Apr 28, 2023 6:02am Apr 28, 2023 6:02am
Quoting btrfx1
{quote} I have observed some of your charts which leads me to ask this question, (hopefully helping you) Do you have rules for entry and exiting, especially when trading a 1 min chart. As per your post above---------you blinked and---------- $$$$$$$$$$$$ slipped away, a story many folk experience trading what-------IMO is almost impossible unless you are a screen jockey who can not only stay awake but more importantly make immediate decisions, ON THE FLY. Criticism without explanation does not achieve anything---If I may, let me review your chart...
I missed the critique of that gold trade the first time. Thanks for that.
I do agree that you need to be very quick with your decisions on the 1m timeframe, which is why I may move up to 5m
I did notice how that trendline turned into support. crazy how that works!

And please don't apologize for giving constructive criticism. I appreciate it!
  • #5,358
  • Apr 28, 2023 8:26am Apr 28, 2023 8:26am
Quoting ianhjulberg
{quote} I missed the critique of that gold trade the first time. Thanks for that. I do agree that you need to be very quick with your decisions on the 1m timeframe, which is why I may move up to 5m I did notice how that trendline turned into support. crazy how that works! And please don't apologize for giving constructive criticism. I appreciate it!
Not a problem---Crazy working tricks---I jest, there are more tricks in this game than Fleas on a Dog.

One of the great things about trading is the people I have met.

In 2020 I believe I met a lady named Laura Taggart. One of the nicest people you will ever meet.

After approx 20 years studying the markets, this lady is my most trusted and above all else,
Selfless person I ever had the pleasure of meeting.

Laura is talented, extremely well organised, coordinated, and has my total respect for everything she has done.

As you are on this site I would like you to study her Journal.

In my life I paid for trading education, (Lecturing is an unavoidable expense) attended seminars in Australia, England and the USA also Trading Camps, with knowledgeable folk, (be very selective who you invest with) who cared to share their knowledge. Take what you learn, study it, practice what you learn, repeat, rinse repeat and so the story develops, who knows you may even become one of those folk yourself. :-)

There are no guarantees in trading. however Laura gave her time, energy and knowledge and allowed anyone who cared to put in th4e effort, to, IMHO provide you with all the tools necessary to become a successful trader. It's a business---Don"t ever forget that.

Laura is the Crown Jewel and Princess of my Trading World.

Go to it mate there is much to learn--by the way watch out for those dam fleas.

My Avatar

Ben
  • #5,359
  • Apr 28, 2023 8:46am Apr 28, 2023 8:46am
Quoting btrfx1
{quote} Not a problem---Crazy working tricks---I jest, there are more tricks in this game than Fleas on a Dog. One of the great things about trading is the people I have met. In 2020 I believe I met a lady named Laura Taggart. One of the nicest people you will ever meet. After approx 20 years studying the markets, this lady is my most trusted and above all else, Selfless person I ever had the pleasure of meeting. Laura is talented, extremely well organised, coordinated, and has my total respect for everything she has done. As you are on this site...
Trading certainly is a journey with many higher highs and lower lows!

That's great that you've had the chance to meet Laura. I wish I was only so lucky! I just knew she was as nice of a person as you've described. You can just tell by how generous and gracious she's been on this site.

It's also nice to hear how much you value her advice considering your trading experiences over the years. It just gives me even more confidence in this system.

Thanks for the encouraging words Ben.

Btw, Princess Laura has a nice ring to it
  • #5,360
  • Edited 10:13am Apr 28, 2023 9:56am | Edited 10:13am
[quote=ianhjulberg;14409861]{quote} Trading certainly is a journey with many higher highs and lower lows!

What you see may not be all that is meant to be seen---look at the whole picture, prior judgement can cloud our views of the markets.

I am allowed certain privileges, at 82, deaf as a beetle, hard at hearing it's a wonder I can do anything right.

Oops, I never met Laura in person, sorry to give that impression it was in her chat group years ago.

Hey Turnip, Hope you saw that I did not mention fleas on our favourite animals only dogs hahahaha.

Private joke Ian
Ben
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