Hi V I'm not posting this chart for any reason I just want to see if you can see the chart clearly in the attached image or not for future? No need to answer that can see myself that it works.
Cheers Luke
Cheers Luke
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DislikedHi V I'm not posting this chart for any reason I just want to see if you can see the chart clearly in the attached image or not for future?Ignored
DislikedThis was the losing trade I did and I was wondering if you can see anything wrong with it or is it just a losing trade?
the only thing I can think of is maybe I should have waited for a move above or below the range on the 5 min before I entered?
Cheers Luke.Ignored
DislikedIts just one of those losing trades I think. The 1 hr had just closed neg ie in its lower half but a decent wick. I have W M3 at 4854 which seems to have been the reason it paused. With a 15 min shooting star like that you would have thought the trade would be fine. In hindsight that lower wick on 1hr needed a little more time to work its way out.Ignored
DislikedIn hindsight that lower wick on 1hr needed a little more time to work its way out.Ignored
DislikedReflex sometimes when price really struggles with an area ie where you had the losing trade it just needs a little more space/pullback. Stick with hl/lh's ie where you took the entry the right arrow after the x in above chart http://www.forexfactory.com/showpost...postcount=1417 . It at least gives good chance to get back the pips on the stop out (often more as that becomes the move that breaks through). Mrs V doesn't have a name for it but if she sees a narrow channel break that fails she likes the move in the original direction...Ignored
DislikedYes Looking back through my charts I notice it does that alot but never realised until you just explained that its probally pulling back to build up enough strength to break through and have always regretted sitting out of the last one that usually goes! I am guesing that W M3 is 50% between weekly pivot and weekly resistance 1 cause I put a fib on and it lines up with the number you said earlier 854?
Hope Mrs Vs neck is better tomorrow and can help with the baby sitting.Ignored
DislikedTwo quick swings so far today but no entry for me into either of them!Ignored
Hi Vantage,
I've been watching this thread for a while - thanks for taking the time to share.
I sometimes see you come out of trades at break even or -2/3 pips, this morning's short for example. At the moment I have been taking full stops on losing trades as I found I jumped out too early on the ones that go on to hit target, and stay in the ones that don't!!
Can you please explain how you judge a trade to be failing prior to hitting your stop and tips on avoiding taking full stops every losing trade?
Thanks
Bella
DislikedHi Vantage,
I've been watching this thread for a while - thanks for taking the time to share.
I sometimes see you come out of trades at break even or -2/3 pips, this morning's short for example. At the moment I have been taking full stops on losing trades as I found I jumped out too early on the ones that go on to hit target, and stay in the ones that don't!!
[left]Can you please explain how you judge a trade to be failing prior to hitting your stop and tips on avoiding taking full stops every losing...Ignored
DislikedHi Vantage
Is this trade is good? I mean according to the rule..
thanksIgnored
DislikedHi Vantage
Is this trade is good? I mean according to the rule..
thanksIgnored
DislikedPrior to the trade we took pa was a litle erratic. Lots of sideways rubbish and wicks all over the place then a substantial move up, so we did not have a lot of faith in pa putting this down to pre UK budget 'nerves'.
We simply have had enough time invested in watching charts to know that (in the time frames we trade) on a normal trading day we have a system with a high % chance of winning.
OK on the chart below we took the arrow left and did bail at the first pullback, OK our mistake but on a day like today who knows. Typically we would wait...Ignored
DislikedThanks for this Vantage. I understand that today isn't a 'normal' trading day and that other factors are affecting trading.
I too am a more conservative trader, sometimes to my detriment, but I reason that it all evens itself out in the end - I miss some winners but I also stay out of some losers!
Sorry to pick your brain re exit of trades, but I they are my weakness at the moment. As I mentioned in my post I have tried to get a 'feel' for exits, but find that I invariably make the wrong decision, hence I made the decision to put in my full...Ignored