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Simple Simon Balance Line Trading

  • #1,321
  • Jun 27, 2011 3:23am Jun 27, 2011 3:23am
Morning - we can all use a bit of excitement now and again.
  • #1,322
  • Jun 27, 2011 3:28am Jun 27, 2011 3:28am
I concur with this. Beside the fact that WHEN YOU CAN MOVE TO BE, MOVE TO BE!

A lot of the time, you will be taken out, so be it. If there is another chance to re-enter, it will be given usually during the candle that took you out.

There will also be times that you move to BE and price just keeps trucking!

Break even removes the risk of being in the trade!


WHEN YOU GET AN OPPORTUNITY TO MOVE TO BE - TAKE IT!

Quoting prof8t
Curious as to why you entered before close confirmation above the 50ema? I though that the 50ema served to prevent head fakes such as what appears to be happening here with your trade?
  • #1,323
  • Jun 27, 2011 3:31am Jun 27, 2011 3:31am
Nawlins - did you enter with a market order on this?? Your buy mark looks suspect to me??

Quoting nawlins51
I made a mistake. I sure hope it does not come back to haunt me. I was up 10 pips on the Eur/Jpy and did not move my stop to B/E. Now I am in the hole. Hopefully it rebounds but damn I should of moved it especially with the yen. That was dumb. Here is a screen shot of my mistake.
  • #1,324
  • Jun 27, 2011 3:38am Jun 27, 2011 3:38am
Quoting prof8t
Curious as to why you entered before close confirmation above the 50ema? I though that the 50ema served to prevent head fakes such as what appears to be happening here with your trade?
Well I made a mistake. I understand the 50 ema serves as S/R also and seen it just blew right pass it. I anticipated instead of letting it come to me I guess you can say.

or

We can laugh about it and say for educational purposes.
  • #1,325
  • Jun 27, 2011 3:40am Jun 27, 2011 3:40am
a lesson learned then
  • #1,326
  • Jun 27, 2011 3:41am Jun 27, 2011 3:41am
Quoting Colostarr
Nawlins - did you enter with a market order on this?? Your buy mark looks suspect to me??
Yep and just did something dumb. Should of waited for it to close above the 50ema. Instead figured if it went above it then the resistance was not there. I went in at 114.44. About 9 pips above the high of the candle close above the blue line.
  • #1,327
  • Jun 27, 2011 3:41am Jun 27, 2011 3:41am
Educational sure - but there's nothing funny about losing money brother!

Quoting nawlins51
Well I made a mistake. I understand the 50 ema serves as S/R also and seen it just blew right pass it. I anticipated instead of letting it come to me I guess you can say.

or

We can laugh about it and say for educational purposes.
  • #1,328
  • Jun 27, 2011 3:42am Jun 27, 2011 3:42am
says he who has done exactly the same thing in the past
  • #1,329
  • Jun 27, 2011 3:43am Jun 27, 2011 3:43am
Quoting handy148
a lesson learned then
yep. Education is not free.
  • #1,330
  • Jun 27, 2011 3:43am Jun 27, 2011 3:43am
Has anyone been triggered into anything? It seems that all the 1H time frames are well away from the blue line, and the 15tf's are ranging.

it's like price doesn't know which way it wants to go.

Although there isn't much by way of news today - and it IS a Monday!
  • #1,331
  • Jun 27, 2011 3:45am Jun 27, 2011 3:45am
So hopefully the education piece here is "You chased Price!"

Quoting nawlins51
Yep and just did something dumb. Should of waited for it to close above the 50ema. Instead figured if it went above it then the resistance was not there. I went in at 114.44. About 9 pips above the high of the candle close above the blue line.
  • #1,332
  • Jun 27, 2011 3:46am Jun 27, 2011 3:46am
Quoting Colostarr
Educational sure - but there's nothing funny about losing money brother!
its not good to lose money but you can't dwell on it either. Its how I stay positive when trading. I posted so everyone could see where I messed up and learned from a live example. I anticipated instead of letting price come to me.
  • #1,333
  • Jun 27, 2011 3:47am Jun 27, 2011 3:47am
Quoting Colostarr
So hopefully the education piece here is "You chased Price!"
Yes I did. I chased price.
  • #1,334
  • Jun 27, 2011 3:57am Jun 27, 2011 3:57am
haha at break even. Thank you lord and I wil never do that again.
  • #1,335
  • Jun 27, 2011 4:00am Jun 27, 2011 4:00am
Quoting Colostarr
Sounds good Neil. Sorry for being absentee on Friday - was not by choice!
No problems my friend!

Have just sent you an email
Happy trading all. Titch
  • #1,336
  • Jun 27, 2011 4:01am Jun 27, 2011 4:01am
The pip Gods have smiled upon you!

Quoting nawlins51
haha at break even. Thank you lord and I wil never do that again.
  • #1,337
  • Jun 27, 2011 4:02am Jun 27, 2011 4:02am
Quoting Colostarr
The pip Gods have smiled upon you!

They have and I thank them. I locked in 10 pips. Lets see where it takes me.,
  • #1,338
  • Jun 27, 2011 4:03am Jun 27, 2011 4:03am
crossed Blue line and above 50, hope good entry.
  • #1,339
  • Jun 27, 2011 4:06am Jun 27, 2011 4:06am
What do you all think?

The previous range freaks me out a little and the signal candle is a little larger than I'd like to see.
  • #1,340
  • Jun 27, 2011 4:07am Jun 27, 2011 4:07am
Set your buy stop at the high of that candle on the 1H. Broke through 50ema and the approach is good.

I'm gonna set a buy stop on this one!

Quoting prof8t
What do you all think?

The previous range freaks me out a little and the signal candle is a little larger than I'd like to see.
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