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Fail Better

  • #861
  • Jun 30, 2011 2:16pm Jun 30, 2011 2:16pm
Quoting the_wizard
I was offering 1513. That missed bm by 1 tick.

I moved it to 1515 after the consolidation just below.

That missed me by 9 ticks.

LOL

One of those days today! And it's my birthday :-(
Happy Birthday Tom!!!
Market is like a puzzle, YOU have to fit the pieces!!
  • #862
  • Jun 30, 2011 3:01pm Jun 30, 2011 3:01pm
Happy B'day Tom.

Inserted Video


Oh yeah, this isnt me lol
Searching for a cure...:nerd:
  • #863
  • Jul 1, 2011 12:38am Jul 1, 2011 12:38am
Happy Birthday Tom!

That gbpusd was one helluva trade, too bad I missed it cuz I'm out of town at the moment!!
  • #864
  • Jul 1, 2011 4:31am Jul 1, 2011 4:31am
Did anyone catch th4 GBPCHF?
Forgot to place a pending order
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF.PNG Size: 81 KB
  • #865
  • Jul 1, 2011 4:58am Jul 1, 2011 4:58am
Quoting kptMisiu
Did anyone catch th4 GBPCHF?
Forgot to place a pending order
Missed my order by 1,5 pips.
  • #866
  • Jul 1, 2011 5:12am Jul 1, 2011 5:12am
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pat
  • #867
  • Jul 1, 2011 5:17am Jul 1, 2011 5:17am
Okay, last post, then I stop spamming the thread. Found some interesting stuff when going through my journal. Out of my last 50 touch trade winners, I had one with a drawdown of 39 pips, rest of the winners had a drawdown between 0-18 pips.

I usually have had my stop size around 40-60 pips. I am seriously considering reducing my stops!

pat
  • #868
  • Jul 1, 2011 5:53am Jul 1, 2011 5:53am
Quoting plund
Missed my order by 1,5 pips.
I feel Your pain Plund
  • #869
  • Jul 1, 2011 5:54am Jul 1, 2011 5:54am
Dude Happy birthday, you certainly must have been feeling gOLD. haha! :-)

Have a good one dude.
  • #870
  • Jul 1, 2011 5:59am Jul 1, 2011 5:59am
Quoting plund
Okay, last post, then I stop spamming the thread. Found some interesting stuff when going through my journal. Out of my last 50 touch trade winners, I had one with a drawdown of 39 pips, rest of the winners had a drawdown between 0-18 pips.

I usually have had my stop size around 40-60 pips. I am seriously considering reducing my stops!

pat
Pat,

Great stuff, keep up the good work, just goes to show how the journal is so important. Also, like your stock charts.
  • #871
  • Jul 1, 2011 8:30am Jul 1, 2011 8:30am
Quoting plund
Okay, last post, then I stop spamming the thread. Found some interesting stuff when going through my journal. Out of my last 50 touch trade winners, I had one with a drawdown of 39 pips, rest of the winners had a drawdown between 0-18 pips.

I usually have had my stop size around 40-60 pips. I am seriously considering reducing my stops!

pat
Pat,

This is what it is about!! That is an excellent observation and if you implement it effectively it's going to increase your R and therefore, increase your edge.

You just made my day!

Excellent charts by the way.
  • #872
  • Jul 1, 2011 8:31am Jul 1, 2011 8:31am
Quoting Pc1
Thoughts ?
Excellent trade. I got in slightly lower down but am still in now...
  • #873
  • Jul 1, 2011 8:34am Jul 1, 2011 8:34am
Quoting the_wizard
LOL, I'm short from the rounded retest of 252 on the D1!
I got stopped out on my short in Barclays.

I wanted to post this as it is an incredible level (first chart shows the weekly).

The second chart shows how I sold the rounded retest on the D1 time frame.

In my opinion an excellent trade that was a loser :-)

Incidentally, price is now posting a Weekly Bullish Engulfing with a close back above the level so it is going to get very interesting next week...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: barc1.gif Size: 22 KB
Click to Enlarge Name: barc2.gif Size: 21 KB
  • #874
  • Jul 1, 2011 8:42am Jul 1, 2011 8:42am
Quoting the_wizard
Excellent trade. I got in slightly lower down but am still in now...
I think this is probably third time for me.. I set a limit order and I miss it.

I don't like to chase but also don't like to miss it.. How do you enter the trade when it is not reached to your set limit ?
  • #875
  • Jul 1, 2011 10:28am Jul 1, 2011 10:28am
Quoting plund
Okay, last post, then I stop spamming the thread. Found some interesting stuff when going through my journal. Out of my last 50 touch trade winners, I had one with a drawdown of 39 pips, rest of the winners had a drawdown between 0-18 pips.

I usually have had my stop size around 40-60 pips. I am seriously considering reducing my stops!

pat
Don't bail Plund! I'm enjoying your contributions. Keep it up.
  • #876
  • Jul 1, 2011 11:27am Jul 1, 2011 11:27am
Quoting Pc1
I think this is probably third time for me.. I set a limit order and I miss it.

I don't like to chase but also don't like to miss it.. How do you enter the trade when it is not reached to your set limit ?
Hi there,
Try scaling in, i am testing it myself.
Anything can happen - You never know
  • #877
  • Jul 1, 2011 11:39am Jul 1, 2011 11:39am
Quoting macbow
Tom what are mnemonics in trading?
Your trading record.
  • #878
  • Jul 1, 2011 3:43pm Jul 1, 2011 3:43pm
Quoting kwikwis
Hi there,
Try scaling in, i am testing it myself.
Ok.. like set the limit at 3 differrent prices (kind of 10 or 15 pips gap).. ?
  • #879
  • Jul 1, 2011 7:40pm Jul 1, 2011 7:40pm
I'm so glad I found this thread. Thanks for all the wisdom and knowledge you guys have dropped, especially the_wizard.
  • #880
  • Jul 2, 2011 4:22am Jul 2, 2011 4:22am
hey Tom

I love your thread and trading the rounded retests very profitbale for weeks now. Thanks for that first of all!

My question is how do you recognize things like the spider or the SFP? As markets change constantly it would be of great value if you could go into this and tell how you approaching this when you look new patterns or HOW to recognize new patterns in the markets.

Give a man a fish and he will eat for a day. Teach a man to fish and he will eat for the rest of his life

have a great weekend
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