Dumb blonde trading...

Well shoot... I just signed up for a math class down at the night school so I can follow along...

Position check at market close on Friday January 18:
100 units entered @ 1.0995 currently +4, sl at 1. 100(this one has a risk of -5 now)
60 unit add-on @ 1.0985, currently -6.8, sl @ 1.100 (risk -15x.6=9 pips)
30 unit add-on @ 1.0979, currently -10.8, sl @ 1.100 (risk= 21x .3= 6.3 pips)
total risk now is -5 +-9 +6.3=20.3 pips

So Im looking at this and I see that my next position will be added on just 3 pips below my last entry, and at that time my stop gets pulled down to -6 on all positions, which seems very close...but on saying that there will be profit locked in on two positions by that time because: (again I am doing this for my own benefit ehhhhh)

if seen the last position would be added on
at 1.0976, which would mean, my sl would be pulled to -6 on all posis
so it would go like this:
100 units at 1.0995,+19,with sl at 1.0983 (this one has 12 pips locked in)
60 units at 1.0985, +9, with sl at 1.0983 (this one has 2 pips locked in)
30 units at 1.0979,+3, with sl at 1.0983 (this one would be -4 if sl hit)
10 units at 1.0976 with sl at 1.0983 (I will forgo this add on as it seems kind of silly with such a small stop to be honest)
so total would be 19+9+3=31 pips, although I have to do the calculations the way I normally calculate pips which would be 19 +9x.6=5.4+3x.3=.9 total =25.3 pips


Notes to myself: I would prefer to use numbers which would allow me a more reasonable stop on my positions, I like the 84 56 model for the stops, but I dont like the 10,6 hockey stick for entries because its too fast and I am likely to get stopped out more quickly...so for future I would enter maybe with 21,15,10, 6, 3,1 I will have to practice and decide whats best but it seems to me that maybe for daytrading the shorter hockey sticks are better for making the most out of smaller moves and for longer term trading the longer sequences are better and more spaced out...to risk 84 pips on a 25 pip trade isnt great to be honest but hey its my first go at this!take care, Raz

Raz... you sounded extraordinarilly happy in the Jacko group... even pretty much dissapeared from sight around here.... but little by llittle popping up again... and here is PA and J16 again...

I kind of thought... ( though I really cannot judge because I haven't been there ) but maybe Jacko thing makes good pips but is somewhat boring... i don't know...

I know you want to have a life and not sit so much in front of the computer... so why not just stay only to daily or above time frame.... limit your self to once or twice a day sitting to look at the charts... make your decisions etc...

Well, you know best... hindsight to me says the best time to have gotten into EUR was LONG right around 4300....

Now I think EUR is starting major consolidation... triangle...???

The sign on my daughters door says.... keeeeeeeeep Out....!!!

She also has a gate up and says we have to enter password to enter... !!!

LOL@your daughters sign tiki,

No, the not posting comes from trying to stay away, and digesting new information...jackos style is great, but its jackos style, so now trying to do something of my own combining his strat...I want to hold longer and to do that I need larger stops and to do that I need to have smaller positions, but I still want to get the most out of a move...which is why I need to work on adding and my stops...funny how I can be a multi tasker in real life but when it comes to trading I have to keep things so simple, I basically cant work on too many things at once it just doesnt work for me. But I would like to keep this working on adding separate from other things for now, in fact Im not going to worry specifically about getting the absolute best entry, just the direction and more or less in the right area, while I work on what magic numbers I want to use for adding etc...speak soon, Raz

Ah Tiki (since you posted a eur chart) this is my take on eur,
lots of confluence right here, so if it drops below these current lows well I have the 50 fib and a daily trendline around 1.4550...I just dont see anything that would make the current US economic situation suddenly better so I dont see how US dollar can get any stronger right now...that said funny things happen, anyway heres a chart and scuse all the fib lines was messing around over the weekend, Raz

heres a cleaner view of eur, that one looks awful with all those lines, see the FE 100 up there, that would be a nice target for a ride up from here ehhhh?

Well, while Im posting a eur chart I may as well post swissy as well since Im in a trade here...I think the way I have organized this trade Im going to be out before I know it, (ie add ons too tight but anyway this is where I would like to be heading...and keeping in mind there is a weekly beob I guess its not a bad idea to have a tight stop. Anyway, this trade goes with the longer term trend and Im just practicing this add on thing so lets see where it goes.

guess the lower trendline has to be tested first

You see there raz... All explained in a nutshell... !!! Yes the FE looks nice... I agree that dollar cannot get much stronger... but can it get much weaker either...??? They have weakening economy and subprime fallout too...

You are woman... better chance for you to have it right... I am man... we will see how bad I can botch it up all the way up to the 100... !!

And won't be the first time I mention that I swear EUR looks like an inverted HNS... so that 100 looks tempting... we will see... !!!

I am watching Joe Black right now... always been one of my favorite movies... after that I will study your fib confluence.... oh geez.. I'm missing the love scene... gotta go....

How did you draw that on there walb? Yep you could be right we may drop some before going up. Im not getting in until Ive got some confirmation its bottomed anyhow...thks, Raz

This is Tom Demark technique: always connect the last to swingpoints to the upper and the lower side from the right to the left.

sorry walb,
what i meant was how did you draw that line in, did you use paint to hand draw the line in? thks, Raz

Position check at market close on Friday January 18:
100 units entered @ 1.0995 currently +4, sl at 1. 100(this one has a risk of -5 now)
60 unit add-on @ 1.0985, currently -6.8, sl @ 1.100 (risk -15x.6=9 pips)
30 unit add-on @ 1.0979, currently -10.8, sl @ 1.100 (risk= 21x .3= 6.3 pips)
total risk now is -5 +-9 +6.3=20.3 pips

out -20.3

correct, the lines were put in with Paint.

Hi,
I dont really see why you would draw your trendline to that point on the left, the low on my daily chart comes in August at 1.3366...and I pull my trendline up from there...in any case we have breached my line now so perhaps we are headed your way btw i have no idea how to put paint on my chart, is it difficult...thks, Raz

Until the dust settles...take care allRaz

you take a screenshot of the chart first

Yes it has been a dusty day eh.... !!! I did not make any pips today... But I did not lose any either...

Those are some nice trendlines, did you learn that from my book??

If your real name is Tom Demark then yes. If this is not your real name, what kind of book is it, would be intested to learn more.