well.. appears that both did not work out...flat
- #2,841
- Apr 7, 2011 5:28pm Apr 7, 2011 5:28pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
- #2,843
- Apr 7, 2011 5:48pm Apr 7, 2011 5:48pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
So here what I am seeing.. The EU, when I take a larger macro view I see the trend appears to be up going back around the 4th or 5th.. Plus the series of higher lows preceeding my attemped short...
The UJ is a little tougher to call...I was thinking a break out short from the larger triangle using the Div set up.. although not exactly as the rules specify..
But not to be.. small losses on both = 7 plus on the UJ and 4 plus on the EU. I tend to not give a lot of room if the trade doesn't work as I think it should. It is my belief and experience that trades work or they dont, rather quickly...Yes, I know to take some time but, I think the percentage is against me on that so I will cut with smaller losses when there is no real movement/follow through
On to the next trade...
The UJ is a little tougher to call...I was thinking a break out short from the larger triangle using the Div set up.. although not exactly as the rules specify..
But not to be.. small losses on both = 7 plus on the UJ and 4 plus on the EU. I tend to not give a lot of room if the trade doesn't work as I think it should. It is my belief and experience that trades work or they dont, rather quickly...Yes, I know to take some time but, I think the percentage is against me on that so I will cut with smaller losses when there is no real movement/follow through
On to the next trade...
- #2,844
- Apr 7, 2011 5:58pm Apr 7, 2011 5:58pm
- Joined Sep 2010 | Status: Trader | 2,034 Posts | Online Now
- #2,846
- Apr 7, 2011 6:01pm Apr 7, 2011 6:01pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
++++++++++++++++++++++++++++++++
Trend is up. Not good to try a sell in up trend.
Go here for free screen capture software. Do not pay, they have 3 versions:
http://wisdom-soft.com/products/screenhunter.htm
YEP !
- #2,847
- Apr 7, 2011 6:02pm Apr 7, 2011 6:02pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
paralysis by analysis just follow the plan dont go and reinvent the wheel find the trend if there is non(not talking about overall trend) but are we trending? if not wait for the trend
YEP !
- #2,849
- Apr 7, 2011 6:20pm Apr 7, 2011 6:20pm
- Joined Sep 2010 | Status: Trader | 2,034 Posts | Online Now
I like this
I am new to this and have not put any money down on it yet but my test trades are looking good so far. It seems as with any trade idea the real key is defining the trend. A quick look at the m15 and h1 don't hurt if your trading this on the m5.
http://i53.tinypic.com/fuo1te.jpg
I am new to this and have not put any money down on it yet but my test trades are looking good so far. It seems as with any trade idea the real key is defining the trend. A quick look at the m15 and h1 don't hurt if your trading this on the m5.http://i53.tinypic.com/fuo1te.jpg
- #2,851
- Apr 7, 2011 6:34pm Apr 7, 2011 6:34pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
- #2,853
- Apr 7, 2011 6:37pm Apr 7, 2011 6:37pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
- #2,854
- Apr 7, 2011 6:49pm Apr 7, 2011 6:49pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
Diamond ...Here are the example I was refering to
- #2,855
- Edited 6:59pm Apr 7, 2011 6:56pm | Edited 6:59pm
- Joined Sep 2010 | Status: Trader | 2,034 Posts | Online Now
[quote=TraderinSD;4530132]
++++++++++++++++++++++++++++++++
"I did try this pair earlier in the session while it was still in the area of congestion. This is a no no. It cost me 12."
Actually SD, I did try one of those. See above. ^
The deal, for me anyway, is when I see price in consolidation zone, I don't want anything to do with it. I did break my own personal rule and enter in this zone and got my posterior spanked.
Thinner black lines I have at visual s/r levels.
The Thicker black lines (2) are what my little pea brain perceives as this imaginary "Traffic" congestion area. Once price cleared the bottom of the lower black line, it retested this area again, and I picked it up on the second retest according to CCI, & 123.
Just my spin. All detractors from my philosophy will be summarily shot with extreme prejudice.
Got this one in just before the bell. (End of Asian green light period)
My fill was 1.2 higher than I wanted. It was a nail biter. (Technical term - "Taking Heat")
For almost 25 minutes I watched this thing go up and down like the Macy's elevator during the Christmas rush. Had my finger on the trigger ready to bail if the 3rd attempt @ breaching 121.57 failed.
It didn't fail. The rockets are still putting this thing into orbit. I got my 13 so I'm happy. [b]I did try this pair earlier in the session while it was...
"I did try this pair earlier in the session while it was still in the area of congestion. This is a no no. It cost me 12."
Actually SD, I did try one of those. See above. ^
The deal, for me anyway, is when I see price in consolidation zone, I don't want anything to do with it. I did break my own personal rule and enter in this zone and got my posterior spanked.
Thinner black lines I have at visual s/r levels.
The Thicker black lines (2) are what my little pea brain perceives as this imaginary "Traffic" congestion area. Once price cleared the bottom of the lower black line, it retested this area again, and I picked it up on the second retest according to CCI, & 123.
Just my spin. All detractors from my philosophy will be summarily shot with extreme prejudice.
- #2,856
- Apr 7, 2011 7:06pm Apr 7, 2011 7:06pm
- Joined Sep 2010 | Status: Trader | 2,034 Posts | Online Now
- #2,859
- Apr 7, 2011 7:19pm Apr 7, 2011 7:19pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
- #2,860
- Apr 7, 2011 7:23pm Apr 7, 2011 7:23pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts