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Fail Better

  • #1,261
  • Aug 8, 2011 10:58pm Aug 8, 2011 10:58pm
Looks like an hourly Pinocchio forming on the AUSUSD. The nose poked through previous resistance levels (once used as support) at 0.99636. The FTA looks like its about at 1.0207 and the second at 1.0299.

SL: 0.99147
TP: 1.01718
  • #1,262
  • Aug 8, 2011 11:56pm Aug 8, 2011 11:56pm
Quoting the_wizard
Trade #5 : USD/JPY
Try and buy the pullback. But we are only looking for a small bounce because we are expecting this whole up move to be undone - look back at previous intervention attempts...
.
then why not sell it?
  • #1,263
  • Aug 8, 2011 11:58pm Aug 8, 2011 11:58pm
Quoting the_wizard
I do like to try and run things but it requires a strong bias for me that would usually come from the higher TFs for me to do so.

Many of my trades I simply exit at the FTA.
so you're scalping =)
  • #1,264
  • Aug 9, 2011 3:00am Aug 9, 2011 3:00am
Just managed to close aud/chf for 50+ Pips with 22 Pips DD for my 1st FTA. Trade went down 100Pips in an hour!
I have to learn and manage my exits better, but all in all I am up in my live trading account for the last 4 weeks

This method works brilliantly Thank you Tom.

Ron
Attached Image (click to enlarge)
Click to Enlarge Name: audchf.gif Size: 14 KB
  • #1,265
  • Aug 9, 2011 3:46am Aug 9, 2011 3:46am
Quite a good level.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Aug. 09 09.41.jpg Size: 87 KB
  • #1,266
  • Aug 9, 2011 4:26am Aug 9, 2011 4:26am
Quoting jfw215
hi tom,

which platform were you using for the demo account you showed during the webinar?

thanks

j
Tom usually shows most of his charts on the FXPro platform dude with some on broco and alpari depending on what were looking at. Get yourself over to those websites and get a demo account and download there MT4 platforms! :-)
  • #1,267
  • Aug 9, 2011 5:15am Aug 9, 2011 5:15am
Shorted Gold on SFP @ 1771.40

Comments good or not so good, welcome!
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Aug. 09 11.10.gif Size: 38 KB
  • #1,268
  • Aug 9, 2011 6:28am Aug 9, 2011 6:28am
Quoting 4FXsake
Shorted Gold on SFP @ 1771.40

Comments good or not so good, welcome!
Nice Trade Al.

Its got ATR over extension as extra confluence too.

Cheers

Gary
Attached Image (click to enlarge)
Click to Enlarge Name: gold spf + atr over extension.gif Size: 13 KB
  • #1,269
  • Aug 9, 2011 6:36am Aug 9, 2011 6:36am
Quoting Malarky
Nice Trade Al.

Its got ATR over extension as extra confluence too.

Cheers

Gary

Hi Gary,

Maybe going to hit 1715?
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03 Aug. 09 12.33.gif Size: 18 KB
  • #1,270
  • Aug 9, 2011 7:33am Aug 9, 2011 7:33am
Quoting 4FXsake
Shorted Gold on SFP @ 1771.40

Comments good or not so good, welcome!
Someones cleaned up!
  • #1,271
  • Aug 9, 2011 7:33am Aug 9, 2011 7:33am
Quoting NTM
so you're scalping =)
haha! I don't think so...
  • #1,272
  • Aug 9, 2011 7:36am Aug 9, 2011 7:36am
Quoting NTM
then why not sell it?
Because opinions and fact are two different things. If I have an opinion, I wait for price to confirm and then present me with a setup that I know has a high probability of working. If it doesn't I don't trade.
  • #1,273
  • Aug 9, 2011 7:57am Aug 9, 2011 7:57am
Another 90 pips on the EURAUD. Bought the 1.3909 this morning and took profit at the FTA

http://img18.imageshack.us/img18/6894/euraud.png
  • #1,274
  • Aug 9, 2011 8:14am Aug 9, 2011 8:14am
Quoting Miko1
Another 90 pips on the EURAUD. Bought the 1.3909 this morning and took profit at the FTA
Tremendous!
  • #1,275
  • Aug 9, 2011 8:38am Aug 9, 2011 8:38am
Quoting Miko1
Another 90 pips on the EURAUD. Bought the 1.3909 this morning and took profit at the FTA

http://img18.imageshack.us/img18/6894/euraud.png
Beautiful!
  • #1,276
  • Aug 9, 2011 10:02am Aug 9, 2011 10:02am
Decided to exit here @ 1720 for around 49 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_04 Aug. 09 15.59.gif Size: 18 KB
  • #1,277
  • Aug 9, 2011 11:18am Aug 9, 2011 11:18am
4FXsake.. that's a great nick. just sayin'. carry on.
  • #1,278
  • Aug 9, 2011 11:20am Aug 9, 2011 11:20am
Quoting the_wizard
I've told you guys before, watching your P&L is almost always detrimental to your performance.

Check this out that I had through from a friend. He usually picked good trades but couldn't seem to make a penny over time.

He taught his girlfriend how to place orders and how to enter and exit at market and gave her £1,000.

He also taught her to calculate how much to bet on any one trade using prudent risk management.

He asked her to deposit "an undisclosed amount" of that money but not all of it into his trading account and told her he...

Great story, bro.
  • #1,279
  • Aug 9, 2011 11:22am Aug 9, 2011 11:22am
Quoting the_wizard
Because opinions and fact are two different things. If I have an opinion, I wait for price to confirm and then present me with a setup that I know has a high probability of working. If it doesn't I don't trade.
Stop messing up my opinion with the facts! j/k. I've just always wanted to say that.

Good job enlightening people, though. I've never said it but I like your posts.
  • #1,280
  • Aug 9, 2011 11:58am Aug 9, 2011 11:58am
I also want to share my loser today
http://img13.imageshack.us/img13/3669/37764508.png

Maybe someone could add an opinion or what I might have overlooked. Losers provide some good lessons sometimes
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