hi paulw,
just returned ,sorry late reply,i got 15 loss on my short,when i left it it was 12 in favor,i think it went to around 20 into profit,
i don't really look to far forward on were price will go.but dont disagree with u.i try to analyze my trades with my method.
at present im only a few pips in front from week start,but im not so worried about that,
as far as this weeks trading goes,the positive, most of my entries have given me the opportunity to scalp between 10 and 20 pips,my failings have been not to take them,i think the reason for that is 2 reasons,firstly,i havnt had my exit signal,so i need to question my entry reason and what exactly i have made my decision based upon,because without both answers i would consider this as a backward move.my 2nd initial reaction to not collecting pips,can be found in last weeks results,one must remember the subconscious mind,i made lots of pips,also got great entries,i saw 20 pips could have been 50 pips,theres lies a problem.take for example my initial thoughts on trading today,as i said the pound was out of sync,i was focussed on longs,and traded into strong resistance,had the oppurtunity to take 15 pips at 95,before all pairs stalled.but there were no signs for a retracment of any significance .
im rambling a little here but its very clear in my mind.
not directed towards you p,talking to myself.
ill say one thing,your pivotal points will be similar to mine,but we find them in completely different ways.at this moment in time,i would believe that we can find away into trading from the front.
works in progress
regards
william
oh,just came back on ,had a take profit at 39,to fill ,hit 40,so still in the trade my concern is leading into the oclock ,could go either way,testing week for me this week,anyways holding .
taken out ,thats me finished for the week,that last trade has tilted weeks pip count into negative territory ,guestimate 12 pips or so,has to happen ,lets see what i can learn from it,happy pips
see ya next week
regards
william
mornig,
i hope you all enjoyed easter hols,all refreshed and ready to go,
im not going to make many trades to day,but intend spending the day watching a 1 second chart,alongside my 1 min chart.
hi,hopefully some of you were on this mornings long cable,i spent all day yesterday studying the 1 second chart,i found this extremely fascinating,watching its behavior ,which not surprisingly behaves as any other time frame,only speed ed up ,its really worth watching.
my interest in this time frame concerns the price movement in regards to filling all the price s,ther not trad able due to the few pips within witch they fluctuate to fill all prices before moving on,but i see a use in this.in regards to price direction and price reversal,especially at the levels of s/r,which are taken from the larger time frames .
for example yesterday i marked three levels of interest from weekly,and daily,2 of those levels came into play,i found as price came down to the support level of 16430 area,price started jumping more than its steady decline as it dropped from the 80 area to 50 level.its reaction at the support level was exactly as i anticipated ,it reversed and filled the prices upto 50 level then came back down to retest the support again
skipping prices ,again one could have gone long to fill,great for scalping ,and extremely useful for longer time frame trades,with small stops but great potential on rr ratio.i didnt trade any of these possible trades as tempted as i was,but was just studing the price.
i would like to post a chart showing cables rise in price today,but have no idea how to copy the image and post it,i can do from metatrader but not from the platform i use.but if you look at that price movement you can see it gapped the last 20 pips of that move,i often trade against these types of price movment especially after news releases,because they are normally a over reaction and will fall back to clear and fill the gap,then move more steadily back in the direction of the high.so my point here is price will come back to 16480.the thing we need to do is anticipate when,so again we will have to study the price for our entry
