every Saint has a past. Every Sinner has a Future
Looked alright to me...trading gods had other ideas
the trade was very good ( if not A++ )
but it failed as it is a part of the game!
and i beleive that we should always focus on the whole and not a part of it ( whether profit or loss )!
let's see next one!
seeya
winston
Trading is a delicate balance of Strategy , Money management and Psychology
- #1,847
- Nov 3, 2009 5:55am Nov 3, 2009 5:55am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Looked alright to me...trading gods had other ideas
(like now, what is the hourly &/or M5 chart time now)
if u have free time, kindly post a 'post-trade' chart of the chart above.
Thanks
- #1,852
- Nov 3, 2009 7:39am Nov 3, 2009 7:39am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Hi SC
Heretis
GO is GMT +2
i was looking for reasons why this trade didnt go well.
initial possible reasons i came up with:
-- the 1.6300 round number may have something to do with it
-- in case u used hidden div (i cant really tell, it looks almost flat hidden div. to me), using the black bar about 15bars back, then u can read benji's post within here (ideally, look back 5-10bars).
BIG 'a-ha' (after a few minutes of looking at your chart):
i noticed u used black for bullish candles, & white for bearish candle. (your chart played a trick on my eyes&mind! lol; i am used to the opposite: white/bull, black/bear)
so, u traded off of a down-pointing PB with a bullish close, followed by a small up-pointing PB with a bullish close. & not only that, both candles closed above the mid-BB & 21ema, followed by a small bearish white candle that closed above the mid-BB too (although slightly below the 21ema). having noticed these, IMO, u should've killed this trade & had a chance to do so via any of the 2 candles following the first candle (your trigger PB, highlighted yellow, with red arrow).
im silently laughing at myself now (it's past 9.30pm here, sleeping time here), as i've solved the mystery of the 'black & white candle chart'.
- #1,857
- Nov 3, 2009 12:07pm Nov 3, 2009 12:07pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
One Chart is Worth Ten Thousand Words.
Hi.
first of all : bravo
Nice trades, A - no question about it. B is choppy market too, but it's good setup too.
notice double top and double bottom. it is killer with this material:-)
update : in C i can't see a div...just be careful
first of all : bravo
Nice trades, A - no question about it. B is choppy market too, but it's good setup too.
notice double top and double bottom. it is killer with this material:-)
update : in C i can't see a div...just be careful
[IMG]file:///C:/Users/Brettles/AppData/Local/Temp/moz-screenshot-1.png[/IMG]
Hi Fellow Traders, 1st time i've posted on this thread, but been a follower since the beginning.
From the picture of todays GBP/USD 5min chart, these are the 3 trades i've took today.
Trade A shows a new low being set for the day (the red area at the bottom of the chart) with divergence on the rsi from the previous low. Exited 1.6300.
Trade B shows a breakoutout from the morning session and price almost touching 1.6350. Again i targeted 1.6300 (50 sma was in that region).
Trade...