Attachments: PRICE Accordingly

PRICE Accordingly

#1,121
Aug 23, 2011 5:18am Aug 23, 2011 5:18am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting P.Dean

Disliked

long on AU live SMBT setup..

initial target is the HH point.. if and when it reaches i will watch the reaction to it for possible crack.. any less than that will bank for what i can..

Ignored

another -10... bastard just wont give out today..

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#1,122
Edited 5:59am Aug 23, 2011 5:45am | Edited 5:59am

Borgvall
| Joined Dec 2006 | Status: Trader | 48 Posts

We'll see

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#1,123
Aug 23, 2011 5:47am Aug 23, 2011 5:47am

jmw1970
Joined Sep 2010 | Status: Trader & MQL Coder | 776 Posts

EURJPY - SMBT Long

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#1,124
Aug 23, 2011 6:23am Aug 23, 2011 6:23am

Bary
| Joined Feb 2010 | Status: Trader | 501 Posts

GU SBT.
I took this one out of the 3 trades that were triggered
EU & EJ triggered SMBT's

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Barry

#1,125
Aug 23, 2011 6:34am Aug 23, 2011 6:34am

Bary
| Joined Feb 2010 | Status: Trader | 501 Posts

I guess some bank in GB was scared of the huge trade I put on and decided to stop me out in one swift move.............a..holes
Out -11 GU sucks
I guess I picked the wrong pair out of the 3
EDIT: done for the day. see you all tomorrow

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Barry

#1,126
Aug 23, 2011 6:50am Aug 23, 2011 6:50am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

rough tough day..
these are all my trades for today..
1-5 for end results of -16.. I am actually quite proud. baster is super beast today but losing 5 for avg loss of around 6pips its superb.. when i usually go for 5-1's or 7-2's normal days, i get to be around +100 in profits.
my point is... that your skill as a trader will make the difference for you especially to save yourself in rough days such as this.. that's why stress so much work on your skill with many practise and increases screen time.. technical X's and O's will get you only so far in trading and not to a total winner.
if i had to rely fully on tech stuff i would have been easily over 100 pips is loss as lost control creeps in and...

anyways i hope it makes sense to you as what the real point of post is.

now I'll go take a freaking nap, I gave this a war and it wore me down.

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#1,127
Aug 23, 2011 7:01am Aug 23, 2011 7:01am

P.Dean
| Additional Username | Joined May 2011 | 1,866 Posts

Quoting Bary

Disliked

I guess some bank in GB was scared of the huge trade I put on and decided to stop me out in one swift move.............a..holes
Out -11 GU sucks
I guess I picked the wrong pair out of the 3
EDIT: done for the day. see you all tomorrow

Ignored

bary my friend..
what i have noticed from your charts today is that you set your initial Sl too close by using one or two candle below/above the RF signal entry...
the problem with that tactic is that you leave yourself to get hit on small set backs or impulse reverse move spike like.. on rough days it will kill you.
so i recommend to not be afraid and set your hard SL below/above PB so you can survive the stupid moves than manage the trade after setbacks and adjust the risk then, or give yourself the chance to get out of the trade once it reaches back to your entry or close to it for a exit to smaller loss or BE.. on your GU trade you could have getaway with it for much smaller loss that you took on that big bearish impulse move which was followed immediately with a reverse candle close to your entry point for chance of better exit.
you can not trade scared with a to tight of a SL.. it will not work. PA reacts to levels and not to the candles High or Low's especially inside 5m tf.

just a brotherly advise..
(this goes for everyone who can relate as such)

#1,128
Aug 23, 2011 8:43am Aug 23, 2011 8:43am

jmw1970
Joined Sep 2010 | Status: Trader & MQL Coder | 776 Posts

Today was not such a good day, although I am more upset with my trade management skills, I had the perfect opportunity to close out my EURJPY trade at break even - but greed took over and I ended up getting hit for a 20 pip stop loss

I think in future, if a trade such as my EJ trade immediately goes against me for an extended period of time as it did, I should close it when I have the opportunity to get out for a small loss or break even

normally I do, for some reason today I didn't - I think I will close up shop for the day and spend some time analyzing my mistakes - and come back tomorrow ready to right my wrongs

#1,129
Aug 23, 2011 8:55am Aug 23, 2011 8:55am

Klaxon
| Joined Feb 2011 | Status: Looking for Pips | 360 Posts

possible sbt or smbt short on GU, but there is also news coming in about 5 min

Respect and Honor !

#1,130
Aug 23, 2011 9:01am Aug 23, 2011 9:01am

Klaxon
| Joined Feb 2011 | Status: Looking for Pips | 360 Posts

Quoting Klaxon

Disliked

possible sbt or smbt short on GU, but there is also news coming in about 5 min

Ignored

so now we will talk more about smbt possible setup

Respect and Honor !

#1,131
Aug 23, 2011 9:12am Aug 23, 2011 9:12am

Klaxon
| Joined Feb 2011 | Status: Looking for Pips | 360 Posts

Quoting Klaxon

Disliked

so now we will talk more about smbt possible setup

Ignored

oupss it has change now it look more sbt

Respect and Honor !

#1,132
Aug 23, 2011 9:21am Aug 23, 2011 9:21am

daytrade5
| Joined Jun 2008 | Status: Trader | 301 Posts | Online Now

Quoting Klaxon

Disliked

oupss it has change now it look more sbt

Ignored

Also smbt in the au

"Amat Victoria Curam" Victory Loves Preparation

#1,133
Aug 23, 2011 8:00pm Aug 23, 2011 8:00pm

Bary
| Joined Feb 2010 | Status: Trader | 501 Posts

Quoting P.Dean

Disliked

bary my friend..
what i have noticed from your charts today is that you set your initial Sl too close by using one or two candle below/above the RF signal entry...
the problem with that tactic is that you leave yourself to get hit on small set backs or impulse reverse move spike like.. on rough days it will kill you.
so i recommend to not be afraid and set your hard SL below/above PB so you can survive the stupid moves than manage the trade after setbacks and adjust the risk then, or give yourself the chance to get out of the trade once it reaches...

Ignored

Thx Dean for noticing that and for the advice. Your right I'm trying to increase my risk/reward ratio by setting a smaller SL. I will adjust that to proper SL. I do want to trade by the rules! Also I will get out quicker when it reverses against me.
Thx again, Barry

Barry

#1,134
Edited 9:59pm Aug 23, 2011 9:11pm | Edited 9:59pm

TokyoDrifter
| Joined Apr 2010 | Status: Trader | 248 Posts

Hello Dean,

I think this in reference to your post (#1089 (http://www.forexfactory.com/showthread.php?p=4890495#post4890495) )

Btw, sorry this isn't a live trade scenario. But I just wanted some critique on this EU trade I took in the Asian session. I kind of played it as a MSBT even though its more like a MSCT without the DB....

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