Great summary/analysis as always Greg.
I like the nature of the first paragraph describing your intentions to stay with the move with the charts all lining up with potential for price to go up.
Yet seemingly a few minutes later the second paragraph you have made a quick 32 pips and taking your pips off the table - which makes sense with the part the strategy that states; "i try to capture the easy money within that strategy".
as i type now price has just reached R1 143.89/79
Yes, what you say is correct. Although I always try to find a 100 pips opportunity between support floors and resistance ceilings (and vice versa), I'm ready to close the trade for any good reason. Or no reason at all. Maybe the move will run on by my exit another 20-50 pips. I don't care. I'm happy with "the easy money" captured off momentum. That's all I'm after.
I trade for a group of investors called Excalibur, show my results here from time to time. Purpose is to show that you can make it in this game even with a small amount of capital. Greg
I trade for a group of investors called Excalibur, show my results here from time to time. Purpose is to show that you can make it in this game even with a small amount of capital.
When there's been a big up day like yesterday how do you set yourself up to trade the next day? With the pivots so spread out there's 100+ opportunities but are you looking for a pullback before doing anything?
When there is a big move in a given session, I'm usually looking for a consolidation or some kind of correction the next day. Markets tend to alternate between trends and then consolidations, consolidations and then trends. Market had been in a trendless mode for many days, and so a trend was due. A lot of pent up energy was waiting and released yesterday. Others will have other explanations, fundamentals, etc., etc.
It's the end of the trading week, my approach is to error on the side of caution now. I'm not looking for a 100 pips home run this session.
When there is a big move in a given session, I'm looking for a consolidation or some kind of correction the next day. Markets tend to alternate between trends and then consolidations, consolidations and then trends. Market had been in a trendless mode for many days, and so a trend was due. A lot of pent up energy was waiting and released. Others will have other explanations, fundamentals, etc., etc.
Regards, Greg...
Ignored
Thanks Greg.
I know it's extra work but when you post your pre-trade analysis I find it very useful in understanding what you were thinking at the start of the session.
Thanks jopster. Caveat: I won't be submitting my pre-trade analysis every day, and also not until after I've made my trades. Glad you find it helpful. Greg
It's the SHI Channel_True and is available by clicking on the paperclip in the upper right hand corner of this thread. (dont forget to click hide images
