another trade +7 pip.....
Attached Image (click to enlarge)
- #1,681
- Sep 21, 2007 3:46am Sep 21, 2007 3:46am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
- #1,682
- Sep 21, 2007 3:48am Sep 21, 2007 3:48am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
My todays two tradeson choppy EUR/JPY.
- #1,683
- Sep 21, 2007 5:01am Sep 21, 2007 5:01am
another trade +7 pip.....
Egyptian and proud of it!
- #1,684
- Sep 21, 2007 6:20am Sep 21, 2007 6:20am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
I think my entry are too early 
based on latest chart.
based on latest chart.
I think my entry are too early
What do you base your exit on (price action ? ).
- #1,686
- Sep 21, 2007 7:11am Sep 21, 2007 7:11am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
wtf you seem to exit waaay too late (opposed to the other charts you posted where you exited quite early).
What do you base your exit on (price action ? ).
Base on Green pip .....
very late and at top because the rule in book.. max absolute loss -18 pip
so I wait for 18 pip ... then mistakenly close at 17 pip.. My mistake for sure because not patience enough for 1 more pip, it never reach -18 pip 
.. if waited, I could have saved some good pips.
- #1,687
- Sep 21, 2007 7:30am Sep 21, 2007 7:30am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
- #1,688
- Sep 21, 2007 7:39am Sep 21, 2007 7:39am
- | Commercial User | Joined Mar 2004 | 1,255 Posts
Base on Green pip .....
very late and at top because the rule in book.. max absolute loss -18 pip
- #1,689
- Sep 21, 2007 7:50am Sep 21, 2007 7:50am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
- #1,692
- Sep 21, 2007 7:59am Sep 21, 2007 7:59am
- | Commercial User | Joined Mar 2004 | 1,255 Posts
riding the wave
- #1,693
- Sep 21, 2007 8:02am Sep 21, 2007 8:02am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
- #1,694
- Sep 21, 2007 8:27am Sep 21, 2007 8:27am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
another trade... hmm i could be making more on long then shorts 
.....
Keep on shorting...... +5 pip
.....Keep on shorting...... +5 pip
- #1,695
- Sep 21, 2007 10:07am Sep 21, 2007 10:07am
- Joined Mar 2007 | Status: ~~~~~~~~~ | 3,692 Posts
This is really helping me. Maybe it will help others too:
Most all of my losses have been from entering on "head fakes".
That is, when price approached the edge of a range with some
urgency, I would just jump in not wanting to miss out on a move.
Many times though prices just retreat back into the inside of the
range going nowhere and showing no direction. Therefore I would
exit with a small loss. After a few of these it would take a good trade
to re-"dig my ditch" (Mantra 18), that is, trade my way back into
the positive. Also, at that point, I would be wary of overtrading and
of another dud rainbow and I would hesitate to take a good move when
it did come.
Solution:
1) Assume that when prices are ranging that they may well
continue.
2) When volume starts picking up at the edge of but, still inside of,
a range be wary. Wait for price to confirm the move outside of the
range.
3) Don't be afraid to miss out or only get a piece of a move. Look at
those who are posting consistent positive results. Many times they
only catch a part of a move.
The NB Demo Scalper (for now)
Brent
Most all of my losses have been from entering on "head fakes".
That is, when price approached the edge of a range with some
urgency, I would just jump in not wanting to miss out on a move.
Many times though prices just retreat back into the inside of the
range going nowhere and showing no direction. Therefore I would
exit with a small loss. After a few of these it would take a good trade
to re-"dig my ditch" (Mantra 18), that is, trade my way back into
the positive. Also, at that point, I would be wary of overtrading and
of another dud rainbow and I would hesitate to take a good move when
it did come.
Solution:
1) Assume that when prices are ranging that they may well
continue.
2) When volume starts picking up at the edge of but, still inside of,
a range be wary. Wait for price to confirm the move outside of the
range.
3) Don't be afraid to miss out or only get a piece of a move. Look at
those who are posting consistent positive results. Many times they
only catch a part of a move.
The NB Demo Scalper (for now)
Brent
- #1,696
- Sep 21, 2007 10:26am Sep 21, 2007 10:26am
- | Joined Aug 2007 | Status: Climbing Peaks Gliding Valleys | 1,601 Posts
When you see the urgency to jump in ... you go opposite direction ...
All nb jump in at the end of road before it retrace.. hehe.. but when i jump opposite direction, most time win sometime lose also.. because price want to move on some more.... so when you jump opposite direction and it move against you, just get out or reverse or risk get burned.
.....
...All nb jump in at the end of road before it retrace.. hehe.. but when i jump opposite direction, most time win sometime lose also.. because price want to move on some more.... so when you jump opposite direction and it move against you, just get out or reverse or risk get burned.
.....
- #1,697
- Sep 21, 2007 10:31am Sep 21, 2007 10:31am
- Joined Mar 2007 | Status: ~~~~~~~~~ | 3,692 Posts
When you see the urgency to jump in ... you go opposite direction
!We had better be trend followers.
IMHNBO
This is really helping me. Maybe it will help others too:
Most all of my losses have been from entering on "head fakes".
That is, when price approached the edge of a range with some
urgency, I would just jump in not wanting to miss out on a move.
Many times though prices just retreat back into the inside of the
range going nowhere and showing no direction. Therefore I would
exit with a small loss. After a few of these it would take a good trade
to re-"dig my ditch" (Mantra 18), that is, trade my way back into
the positive. Also, at that point, I would be wary of overtrading and
of another dud rainbow and I would hesitate to take a good move when
it did come.
Solution:
1) Assume that when prices are ranging that they may well
continue.
2) When volume starts picking up at the edge of but, still inside of,
a range be wary. Wait for price to confirm the move outside of the
range.
3) Don't be afraid to miss out or only get a piece of a move. Look at
those who are posting consistent positive results. Many times they
only catch a part of a move.
The NB Demo Scalper (for now)
Brent
Most of the time the rainbow tells you if you can jump in or not (even at in ranges).Only trade first and last hour of each session to minimize the ranges in your markets.
If the rainbow moves too fast for you to catch the beginning don't enter at all since the spread will be 2+ pips, and the setup won't be as high probability as it would be if you enter earlier.