"I made all my money by selling too soon"
- #105
- May 7, 2010 3:46am May 7, 2010 3:46am
I don't normally make calls but I'm anticipating 1.4700 (CABLE) to break and I'd be looking to 50 for out, take 30, bring to BE, take 40-50 as it comes. We should see 625 again today.
GBP/USD - Short 1.4700 / TP 1.4650 = +50 ($3,500)
That's perhaps the simplest and quickest 50 pips I've made and a hefty $3,500 in under 10 minutes.
"I made all my money by selling too soon"
- #106
- May 7, 2010 11:33am May 7, 2010 11:33am
Hi,
I would also be very interested in any more light you can shed on your trading style/methodology/perception. I would welcome a video or just some charts with your commentry as you entered and exited trades.
Kind regards,
Regards,
- #109
- May 7, 2010 12:39pm May 7, 2010 12:39pm
- Joined Jun 2009 | Status: Trader | 2,000 Posts
I have replied.
- #110
- May 7, 2010 12:53pm May 7, 2010 12:53pm
I have replied.
However, I think you maybe referring to the answer you previously gave to another enquirer, where you say: "I guess I'm using my own form of PA, in my head? It really is hard to explain what I do, I was tempted to create a video and stick it on youtube of my live trading and explain my thought process as I go. I am extremely busy at the moment so it's not something I could easily do at work and I don't trade outside of UK/Euro hours."
At the start of the thread you say: "*I don't measure or chart volume I just know, through experience, when it's a busy period and you can see momentum with your own eyes on a simple chart.
I was thinking about sharing my trading style in this thread but for now I'm going to hold fire, what I do is very subjective and my style which may not suit others i.e. people might not see the market how I see it.."
So I suppose we could start with a simple question?
Could you please provide an example of this momentum?
Regards,
- #118
- May 10, 2010 9:20am May 10, 2010 9:20am
Look at how the market consolidates and then confirms or denies 'zones' of price.
If I get time I'll write-up some info on order flow and markets, I'm sure it's been covered on this forum in the past but I may have a slightly different take.
I'm surprising myself at how accurate I'm becoming, I don't want to grow a big ego or get complacent but I really do need to lose a few soon to keep my head out of the clouds!
I'd appreciate that, but I would also appreciate a chart or two. It seems clear that you are acting on visual clues from the 5 min chart (only?). Assuming of course that you do not have the new Braille MT4 touch screen
only joking of course!So you seem to be able to identify regular patterns on the M5 timeframe which indicate that an SR zone is about to give. I say patterns because I assume that you take into account several candles on M5?
Out of curiosity what was the difference between the areas 1.5050 ish and 1.5000 on the 5M chart? What I mean is why weren't you short from 1.5050 or thereabouts, which was a SR area defined on 6th of May?
Kind regards,
- #119
- May 11, 2010 6:42am May 11, 2010 6:42am
Famous last words, I fudged my stop rushing in to a trade and then on to a meeting... 
So the morning started well.
Filled
Cable - Long 1.4790 / TP 1.4844 = +54 pips ($5,400)
And by midday, some chaos!
Filled
Cable - Long 1.4797, was meant to scalp this for 15-20 pips (which would have worked) but neglected to place a stop correctly = -49 ($4,900)
I actually typed 1.46-- instead of 1.47 when I entered the stop - idiot, that's what happens when you rush.
When something like this happens to me I don't double up/down, don't try and wait for the market to come back I simple exit the trade at market instantly - make a mistake, deal with it.
Ok so I'm still up, just, but it wasn't meant to happen like this.
So the morning started well.
Filled
Cable - Long 1.4790 / TP 1.4844 = +54 pips ($5,400)
And by midday, some chaos!
Filled
Cable - Long 1.4797, was meant to scalp this for 15-20 pips (which would have worked) but neglected to place a stop correctly = -49 ($4,900)
I actually typed 1.46-- instead of 1.47 when I entered the stop - idiot, that's what happens when you rush.
When something like this happens to me I don't double up/down, don't try and wait for the market to come back I simple exit the trade at market instantly - make a mistake, deal with it.
Ok so I'm still up, just, but it wasn't meant to happen like this.
"I made all my money by selling too soon"