See screenshot... it tells the story. 
Mr. Trend
- #22
- Nov 12, 2007 2:37pm Nov 12, 2007 2:37pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Alright. I had stated earlier in my posts that I was out at around 0640...
But I got up this morning, and I started thinking about this pinbar. Is a weekly pinbar only going to go 100 pips and then that's it? Very rarely. Usually, a pinbar is the start of a big drop.
So... I moved my profit target up to 0460. And I'm glad I did. We went through initial support this morning like knife through butter...
This is the first thing that struck me as odd when I read your weekly PB entry...it came with an exit!
Whatever happened to let your winners run
Btw, going by simplified Steve Nison minimum targets => leg parity. Right weekly bar should move as much as left weekly bar, minimum(which just happened, all on Monday already...oh my.). If you're lenient and pretend it's 2 weeks for the leg, then it's even more
(Use whatever trick you can to let winning positions gather pips / allow yourself to allow them to do it)
Just discovered this thread/journal, bit surprised you didn't put it up in the PF, but if you don't like your neighbors there, fine, go live in the suburbs, see if we care! ;p
Best to you and the journal
Trust price. Know yourself.
- #23
- Nov 12, 2007 4:21pm Nov 12, 2007 4:21pm
Whatever happened to let your winners run
I'm just a bit confused because sometimes i see ppl defending certain things with so much passion and then doing the opposite like if there weren't no yesterday... wierd...
I must subscribe in advance that i'm not here writing this to defend the "trade with the long term trend", kind of thing.
I understand that we can trade against the LTerm trend and do well, and i have no doubt that a weekly PB can be powerful.
The problem is that i'm seeing the "Mr Trend 2", SeekingLight... saying that we should trail stops against the trend. And considering his intervencions on C Update, this seems very, very wierd.
Until further notice this still is a correction and corrections tend to be choppy, so i don't really understand why we should trade a correction with the same technic/aproach we trade with the trend, looking for new medium term highs/lows.
I have no doubt and despite he wont admit, he is in fact looking at this correction (for now) with a fundamental view.
Consciently he knows that what is causing this crazy move are CT unwinds that can send this to a deep hole, but inconsciently he says to himself that he is looking at this with a purely technical prespective.
What this means is that inconsciently he sees a long term term target but technically nothing points to anywere longer a few days.
The consequence is that he is trading the opposite of what he was preaching around and the best part and i said it before and i can prove it, this is one of the few guys around that i see good trading posts.
But.. once again i see that no one really sticks to a method. Im guessing that ppl are so good, so good, that they have tons and tons of winning methods and they play around with all of them.
Btw is that avatar Edge from WWE ? lol
- #24
- Nov 12, 2007 4:34pm Nov 12, 2007 4:34pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
I'm sorry Mr Trend for my intermission, but i promise i won't post here much more.
I'm just a bit confused because sometimes i see ppl defending certain things with so much passion and then doing the opposite like if there weren't no yesterday... wierd...
I must subscribe in advance that i'm not here writing this to defend the "trade with the long term trend", kind of thing.
I understand that we can trade against the LTerm trend and do well, and i have no doubt that a weekly PB can be powerful.
The problem is that i'm seeing the "Mr Trend 2", SeekingLight... saying that we should trail stops against the trend. And considering his intervencions on C Update, this seems very, very wierd.
Until further notice this still is a correction and corrections tend to be choppy, so i don't really understand why we should trade a correction with the same technic/aproach we trade with the trend, looking for new medium term highs/lows.
I have no doubt and despite he wont admit, he is in fact looking at this correction (for now) with a fundamental view.
Consciently he knows that what is causing this crazy move are CT unwinds that can send this to a deep hole, but inconsciently he says to himself that he is looking at this with a purely technical prespective.
What this means is that inconsciently he sees a long term term target but technically nothing points to anywere longer a few days.
The consequence is that he is trading the opposite of what he was preaching around and the best part and i said it before and i can prove it, this is one of the few guys around that i see good trading posts.
But.. once again i see that no one really sticks to a method. Im guessing that ppl are so good, so good, that they have tons and tons of winning methods and they play around with all of them.
Btw is that avatar Edge from WWE ? lol
But regardless... first off, no, that's Gene Simmons...
Secondly, regardless of which direction we're going, I look for opportunities. I'm not necessarily biased in any direction. I like to trade with the trend, but I won't necessarily give up a weekly pinbar (which is a damn good setup IMO) just because I want to wait for prices to break it, move down, and then get in with the overall trend (GBP in that example)...
There are many ways to trade, and I could definitely put the rules I use on paper, but I don't trade in a way that limits good opportunities on setups that I know have high probabilities in success, i.e. PA setups such as engulfing bars, pin bars, etc... regardless of trend or anti-trend. I don't care. If I see a pinbar, I'm taking it... and I'm taking it hard...
Regarding exits... sometimes I will trail... sometimes I won't. I have no set rule. I like to watch the markets and see how price reacts. If I draw a Fib study and it passes through 618 like butter, then I'm probably going to get out ... even if my target profit is still 200 pips away. Because I hate going 200 pips, then watching it retrace all the way back up to my BE... I hate that. I know there's always another trade, so... why deal with the madness...
Hope that's not confusing...
Mr. Trend
- #25
- Nov 12, 2007 4:51pm Nov 12, 2007 4:51pm
I didn't meant to be confusing.
Just like i said, i didn't wrote that to defend any type of trading style. I understand yours and i have not much to point.
I was sending a little word to SeekingLight considering his surprising view of letting winners run against the trend. A view that coming from him, is incredible.
Again.. i'm not criticizing the trade itself, im just confused about trailing stops in a potential choppy zone.
You didn't do it since you showed targets, but he is advising for you to do it, risking your good profit if a sudden consolidation its the market, going sideways which is the most normal thing in correcting periods.
Just to finish, don't take my post as negative. In fact there are studies about internet discussions that involve the "battle" of different ideas, that even without offensive words, there are a chance of 70 percent that one of the persons involved assume that the other is using an offensive tone.
The words can't transmitt a voice tone or face expression. I'm cool i can tell you
Just like i said, i didn't wrote that to defend any type of trading style. I understand yours and i have not much to point.
I was sending a little word to SeekingLight considering his surprising view of letting winners run against the trend. A view that coming from him, is incredible.
Again.. i'm not criticizing the trade itself, im just confused about trailing stops in a potential choppy zone.
You didn't do it since you showed targets, but he is advising for you to do it, risking your good profit if a sudden consolidation its the market, going sideways which is the most normal thing in correcting periods.
Just to finish, don't take my post as negative. In fact there are studies about internet discussions that involve the "battle" of different ideas, that even without offensive words, there are a chance of 70 percent that one of the persons involved assume that the other is using an offensive tone.
The words can't transmitt a voice tone or face expression. I'm cool i can tell you
- #26
- Nov 12, 2007 4:55pm Nov 12, 2007 4:55pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
I didn't meant to be confusing.
Just like i said, i didn't wrote that to defend any type of trading style. I understand yours and i have not much to point.
I was sending a little word to SeekingLight considering his surprising view of letting winners run against the trend. A view that coming from him, is incredible.
Again.. i'm not criticizing the trade itself, im just confused about trailing stops in a potential choppy zone. You didn't do it, since you showed targets, but he is advising for you to do it, risking your good profit, if a sudden consolidation its the market.
Just to finish, don't take my post as negative. In fact there are studies about internet discussions that involve the "battle" of different ideas, that even without offensive words, there are a chance of 70 percent that one of the persons involved assume that the other is using an offensive tone.
The words can't transmitt a voice tone or face expression. I'm cool i can tell you
I think SL was just being facetious however, and playing on my name...
Anyway... yeah... regarding profits... it's never wrong to take profits.
Mr. Trend
- #28
- Nov 12, 2007 6:52pm Nov 12, 2007 6:52pm
- | Commercial User | Joined Oct 2005 | 2,899 Posts
This looks like its going to be a great thread. Keep it up!
.. 
- #29
- Nov 12, 2007 10:08pm Nov 12, 2007 10:08pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
great trader = great setups = great thread... , right Mr. T?
Mr. Trend
- #30
- Edited 1:33am Nov 13, 2007 1:13am | Edited 1:33am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Trust price. Know yourself.
- #31
- Nov 13, 2007 1:14am Nov 13, 2007 1:14am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Ok... That's what I thought.
I think SL was just being facetious however, and playing on my name...
Anyway... yeah... regarding profits... it's never wrong to take profits.
Looked too much like some of my nervous behavior and I was worried since you're usually a lot cooler
Trust price. Know yourself.
- #32
- Nov 13, 2007 6:52am Nov 13, 2007 6:52am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
- #33
- Nov 13, 2007 7:31am Nov 13, 2007 7:31am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
GBPUSD out @ 2.0718 +48 pips
after fall of over 600ps in just two days.... strong bounce was due... and there's no better place to set a trigger than conluence....
- #34
- Nov 13, 2007 7:50am Nov 13, 2007 7:50am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Pips in the bank...
after fall of over 600ps in just two days.... strong bounce was due... and there's no better place to set a trigger than confluence....
Mh...*intermission for thoughts of british girls in uniform with even legs and short skirts*
Lined up with s/r confluence(prior highs) really nice =)
So it's raczekfx's charts that have been spoilin' ya! No wonder I fall victim to the ugly chart cracks ;p
Just maintaining, right? ;p
Trust price. Know yourself.
- #35
- Nov 13, 2007 8:57am Nov 13, 2007 8:57am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Pips in the bank...
after fall of over 600ps in just two days.... strong bounce was due... and there's no better place to set a trigger than conluence....
Mr. Trend
- #36
- Nov 13, 2007 9:03am Nov 13, 2007 9:03am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
- #37
- Nov 13, 2007 9:58am Nov 13, 2007 9:58am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
- #38
- Nov 13, 2007 10:33am Nov 13, 2007 10:33am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
- #39
- Edited 11:19am Nov 13, 2007 11:04am | Edited 11:19am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
- #40
- Nov 13, 2007 11:14am Nov 13, 2007 11:14am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend