It's alright seeing these things, but controlling my itchy finger is another matter!
- #13,108
- Sep 6, 2009 2:19pm Sep 6, 2009 2:19pm
Hi booker,
I just would like to know how other traders would trade it - it doesn't mean that I will do the same. But if somebody more experienced will show me a better way then I (we all) will learn something new.
Thank you!
PS I just started to learn how to trade S&R (I know the rules, but do not have much experience with it).
I usually traded trendlines breakouts or something completely different.
- #13,109
- Sep 6, 2009 2:45pm Sep 6, 2009 2:45pm
This was a good Support level 
But price crossed it so many times before it jumped up.. This is the main problem of this case - would anybody allow it to go into the negative area again and again?
As far as I understand, the idea is to move to BreakEven after ~10+ pips, so probably nobody would not take this big run?
This would only be possible if we would go long every time when price crossed the line from below, but this is not according to this method?
Thanks!
But price crossed it so many times before it jumped up.. This is the main problem of this case - would anybody allow it to go into the negative area again and again? As far as I understand, the idea is to move to BreakEven after ~10+ pips, so probably nobody would not take this big run?
This would only be possible if we would go long every time when price crossed the line from below, but this is not according to this method?
Thanks!
hi chief , looks like you picked a good level in hindsight .. wished you had posted it beforehand , i wasnt looking there!.. only dropped 25 pips through and bounced 169 back .. so as long as you had a decent stop you would have made a good profit.. nice one
Attachment
- #13,110
- Sep 6, 2009 3:18pm Sep 6, 2009 3:18pm
This was a good Support level
As far as I understand, the idea is to move to BreakEven after ~10+ pips, so probably nobody would not take this big run?
This would only be possible if we would go long every time when price crossed the line from below, but this is not according to this method?
Thanks!
- #13,112
- Sep 6, 2009 4:26pm Sep 6, 2009 4:26pm
I think if we take into account that winner should never became a looser then we need to forget about the rest in this trade after BreakEven. But this was always my weak point
yes your right .. should have looked closer .. looks like a break even trade depending on what profit level u decide to move to break even or whether you sell half your stake and keep your original stop .. personal choice.
- #13,113
- Sep 6, 2009 4:47pm Sep 6, 2009 4:47pm
- Joined Mar 2008 | Status: Trader | 1,462 Posts
This was a good Support level
As far as I understand, the idea is to move to BreakEven after ~10+ pips, so probably nobody would not take this big run?
This would only be possible if we would go long every time when price crossed the line from below, but this is not according to this method?
Thanks!
- #13,118
- Sep 8, 2009 12:16pm Sep 8, 2009 12:16pm
- | Joined Nov 2008 | Status: I support the resistance | 1,033 Posts
