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Lets go people!
Lets go people!
- #8,705
- Edited 6:02am Nov 26, 2007 4:48am | Edited 6:02am
- | Joined Feb 2007 | Status: Trader | 134 Posts
It looks like I was really ahead of the train, I didn't nitice the ascending triangle forming on the 4h. Should have waited for more conformation to go short.
Hi Ira,
according to my analysis the deal was on. i just didn't take it because i was still sleeping when the signal was given and when i woke up i was waiting for the break to the downside of that triangle you already mentioned and a pullback to give a good entry price which never happened
in my opinion, stop loss could have been set around 4840 which was the resistance of the same triangle and that would have saved you a couple of pips. only if you played it on the daily stop loss could have been higher than 4840 otherwise it was not necessary. what i like about your trade is that you had a very good entry price to position for a downmove. my entry would have been 10 points lower than yours
by the way there was a nice pullback on 1h with a long tail and 5min at the same time after the price broke 4840 level. did anybody get in long? i didn't. i'm not good at it yet
now i am waiting to see where this upmove will end to go and re-evaluate the situation from there. have a pipful week everyone!
Hi Ira,
according to my analysis the deal was on.
I thought that I've picked the wrong deal. You are absolutely right about SL, but I wanted to give this deal a chance to breath, that's why I added some extra pips.
As for the entry, you are right here too. I knew if the price starts moving I would not be able to get on board, as I didn't master this technique yet. And then the SL would be really huge. So I was scared to miss a good trade - already very, very bad, and I jumped on board before price conformation.
Again thank you for taking your time and making comments on my trade.
- #8,708
- Nov 26, 2007 7:32am Nov 26, 2007 7:32am
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
- #8,713
- Nov 26, 2007 11:14am Nov 26, 2007 11:14am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- #8,715
- Nov 26, 2007 1:31pm Nov 26, 2007 1:31pm
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Just curious where did you set stop and targets?
GBP was last night 10:00 est at the close of the get long bar, usdjpy was short at the 8:00am ish get short bar. I only use 4 hour, don't like to lose
Keep taking CT trades, I need more money
- #8,716
- Nov 26, 2007 1:47pm Nov 26, 2007 1:47pm
- | Joined Apr 2007 | Status: Trader | 1,126 Posts
Info
i have a question.as i understand u close ur positions befor the desired tp.for example the last trade that u done on usdjpy
why u do that?i think in this case u cant do a good risk:reward management because if price go against u ur sl will be hitted and it can burn ur two profits.
i hope understand u with my poor english
- #8,718
- Edited 2:19pm Nov 26, 2007 1:55pm | Edited 2:19pm
- | Commercial User | Joined Nov 2006 | 2,223 Posts
hi philip
i have a question.as i understand u close ur positions befor the desired tp.for example the last trade that u done on usdjpy
why u do that?i think in this case u cant do a good risk:reward management because if price go against u ur sl will be hitted and it can burn ur two profits.
i hope understand u with my poor english
That UsdJpy trade I positioned myself for the breakout trade short. It did break out but then pulled back into the triangle again. I have decided beforehand to take 50% profit after 30pips and set the rest at trailing stop to let it run. The price then went back into the triangle and hit my trailing stop with +10pips therefore the 20pips on average. I dont like a breakout trade to pullback into the triangle. I will allways close it as close to BE as possible. The price continued afterwards downwards but I did not like the sharp and fast pullback into the triangle. If I looked back I should have let it run but it is allways easy to say afterwards.
Currently 24 trades for Oct and Nov with only one real loss.
Hello,
I am posting here an interesting chart from USDCAD.
This pair is on a weekly downtrend, and if you see the weekly chart price is below MA13 (MA13 on top).
Looking to the daily chart this pair is running a small uptrend for + - 15 days.
At this chart you can see that price has MA89 on top (another resistence).
And finnaly if we look at H4 chart we can see a strong resistence line that it was draw at yellow. I am posting H4 chart.
So, I would like to ask you: What is the price movement with major probability to happen here??
Have nice pips!!
Pip
I am posting here an interesting chart from USDCAD.
This pair is on a weekly downtrend, and if you see the weekly chart price is below MA13 (MA13 on top).
Looking to the daily chart this pair is running a small uptrend for + - 15 days.
At this chart you can see that price has MA89 on top (another resistence).
And finnaly if we look at H4 chart we can see a strong resistence line that it was draw at yellow. I am posting H4 chart.
So, I would like to ask you: What is the price movement with major probability to happen here??
Have nice pips!!
Pip
- #8,720
- Edited Nov 27, 2007 8:46am Nov 26, 2007 2:07pm | Edited Nov 27, 2007 8:46am
- | Commercial User | Joined Nov 2006 | 2,223 Posts
