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  • #70,601
  • Mar 3, 2009 11:29am Mar 3, 2009 11:29am
I posted a chart of a bullish gartley that has confirmed on the m15 and is on its way for the m30.
  • #70,602
  • Mar 3, 2009 11:29am Mar 3, 2009 11:29am
Quoting david_akc
I always spotted chart patterns and breakout from TD trendline either for divergence or 123 top/bottoms.
However I fear for my profits and that they will disappear instead of waiting for them to reach the price target I got out fast.

In short I cut my profits as I fear they will vapourise
I let my losses run as I hope they turn positive.

Anyone has this effect?
I use to feel like taking profits early was a bad thing. It'll pass when you see month after month of consistent gains. Don't worry about it - if you a TP and it is hit, take your profit. That is the basics of trading your plan. You have no idea if the market is going to continue or retreat from your TP because you hadn't planned past it (reason why you set it in the first place).

Instead of worrying about getting out 'too soon' - start planning for your next entry/exit plan.
  • #70,603
  • Edited 11:46am Mar 3, 2009 11:32am | Edited 11:46am
Quoting ak4x
Care to elaborate on that, or must we guess... I'm thinking quite the opposite ((for position entries, not scalps)) based on the trend and failed bull runs all night. ((Charts posted elsewhere))

Don't confuse what could easily have been massive stop losses getting eaten for buying setiment.

Takes time to bite, chew, swallow, and digest before coming back for seconds. I take some time before deciding what I think I'm seeing when I look at something in this market... And if it doesn't make any sense, I walk away.

Not Everything has to be Something...
im on the same page long term i got out some positions this morning.(unless it stops and W continues from last year). looking for a place to add some more shorts....dollar index finally trumped last years twin peak slightly.. plus s&p... might be early but willing to risk it.. if and when last years low are broken i will be adding all the way down on pullbacks..exiting a portion on precived valleys..
those who can, do. those who cant, talk about those who can
  • #70,604
  • Mar 3, 2009 11:32am Mar 3, 2009 11:32am
Quoting david_akc
I always spotted chart patterns and breakout from TD trendline either for divergence or 123 top/bottoms.
However I fear for my profits and that they will disappear instead of waiting for them to reach the price target I got out fast.

In short I cut my profits as I fear they will vapourise
I let my losses run as I hope they turn positive.

Anyone has this effect?
'Maybe you can teach me when to take profit so that it doesnt turn on me like earlier =x
Going to make it big by age 21.
  • #70,605
  • Mar 3, 2009 11:34am Mar 3, 2009 11:34am
Quoting Pipin8easy
im with ya from 2540 tp 2600 sl 2550
I think your TSL risk to get hitted first . 92 will be the max
  • #70,606
  • Mar 3, 2009 11:37am Mar 3, 2009 11:37am
Quoting Terminale
I think your TSL risk to get hitted first . 92 will be the max
either way still make 10 pips
  • #70,607
  • Mar 3, 2009 11:37am Mar 3, 2009 11:37am
Quoting Passholder
Its not going to cripple anything this time (again) my stop is at BE !!
Nice one.
Probability Professor
  • #70,608
  • Mar 3, 2009 11:40am Mar 3, 2009 11:40am
Quoting david_akc
I always spotted chart patterns and breakout from TD trendline either for divergence or 123 top/bottoms.
However I fear for my profits and that they will disappear instead of waiting for them to reach the price target I got out fast.

In short I cut my profits as I fear they will vapourise
I let my losses run as I hope they turn positive.

Anyone has this effect?
What I like to do and have already done on my most recent trade is take 25% pos off to book small profits moved s/l to break even. And I will let this run for a bit unless I see PA go against me in a serious fashion.
+ Charts Happen
  • #70,609
  • Mar 3, 2009 11:41am Mar 3, 2009 11:41am
Quoting david_akc
I always spotted chart patterns and breakout from TD trendline either for divergence or 123 top/bottoms.
However I fear for my profits and that they will disappear instead of waiting for them to reach the price target I got out fast.

In short I cut my profits as I fear they will vapourise
I let my losses run as I hope they turn positive.

Anyone has this effect?
instead of closing, cash out half, set sl to b/e and let it run until next supp/res area of your timeframe

...better safe than sorry
  • #70,610
  • Mar 3, 2009 11:42am Mar 3, 2009 11:42am
Will someone please get this moron Obama off my screen .
+ Charts Happen
  • #70,611
  • Mar 3, 2009 11:43am Mar 3, 2009 11:43am
obama talking now the same time as geitner...i did not antisipate this...i wonder if this is calculated
those who can, do. those who cant, talk about those who can
  • #70,612
  • Mar 3, 2009 11:44am Mar 3, 2009 11:44am
Quoting Passholder
Will someone please get this moron Obama off my screen .
dude ... can you change channel?
those who can, do. those who cant, talk about those who can
  • #70,613
  • Mar 3, 2009 11:45am Mar 3, 2009 11:45am
Quoting Passholder
Will someone please get this moron Obama off my screen .
Is your remote control playing up? .... Or has your computer frozen?
Probability Professor
  • #70,614
  • Mar 3, 2009 11:52am Mar 3, 2009 11:52am
Quoting david_akc
I always spotted chart patterns and breakout from TD trendline either for divergence or 123 top/bottoms.
However I fear for my profits and that they will disappear instead of waiting for them to reach the price target I got out fast.

In short I cut my profits as I fear they will vapourise
I let my losses run as I hope they turn positive.

Anyone has this effect?
One way to handle it is to scale out of a position. I don't know the size of trades you take but an example (adjust for trade size) is if you trade 3 lots exit 1 lot on minor taregt, one at major target and let finally one run.
  • #70,615
  • Mar 3, 2009 12:25pm Mar 3, 2009 12:25pm
Quoting gatorinla
im not putting money where mouth is on the way up .. but do think we will see at least 2602/2618... in the next hour...
did not happen. i was wrong. use this to help you trade. any guy here can post anything. this post had nothing to back up statement. such as a reference to why.. you should treat this and those like it as garbage. i see stuff like this all the time..and probably guilty of it... newbies should treat stuff like this as garbage.. and if you dont understand the explanation.. you should do the same until you do..
those who can, do. those who cant, talk about those who can
  • #70,616
  • Mar 3, 2009 12:32pm Mar 3, 2009 12:32pm
I gotta tell ya, I'm really enjoying this price action but I can't believe it has not broken the last swing low of 2512 yet... I suspect as I did yesterday that it is coming soon... especially since on the 30 minute chart we have been making lower highs and lower lows for about 9 hours now.


My target for a break below 2512 is in the 2450 to 2475ish areas.

Peace
  • #70,617
  • Mar 3, 2009 12:38pm Mar 3, 2009 12:38pm
Quoting GrnEydGuy
I gotta tell ya, I'm really enjoying this price action but I can't believe it has not broken the last swing low of 2512 yet... I suspect as I did yesterday that it is coming soon... especially since on the 30 minute chart we have been making lower highs and lower lows for about 9 hours now.


My target for a break below 2512 is in the 2450 to 2475ish areas.

Peace
  • #70,618
  • Mar 3, 2009 12:38pm Mar 3, 2009 12:38pm
Quoting GrnEydGuy
I gotta tell ya, I'm really enjoying this price action but I can't believe it has not broken the last swing low of 2512 yet... I suspect as I did yesterday that it is coming soon... especially since on the 30 minute chart we have been making lower highs and lower lows for about 9 hours now.


My target for a break below 2512 is in the 2450 to 2475ish areas.

Peace
Keep talking it seems to be helping.
  • #70,619
  • Mar 3, 2009 12:39pm Mar 3, 2009 12:39pm
short from 1.2580 tp 1.2450 sl BE+1
  • #70,620
  • Mar 3, 2009 12:42pm Mar 3, 2009 12:42pm
Quoting SunTrader
This is the US$ index daily chart. Nearest resistance is 91/92 area so IMO there is room to move a little higher before any major resistance. Even then it might only be short term. We shall see. But can anyone spot weakness right now? I sure can't.
at this point,
i guess you're right
trying to catch a falling knife won't make much sense
and to make matters even worse is the gold falling too
some positive signs from Geithner is very much appreciated right now, but ....
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