Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #661
- Sep 9, 2011 3:57am Sep 9, 2011 3:57am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
- #662
- Sep 9, 2011 5:27am Sep 9, 2011 5:27am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #663
- Sep 9, 2011 5:34am Sep 9, 2011 5:34am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #665
- Sep 9, 2011 5:55am Sep 9, 2011 5:55am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
my BE was hit in EC an moved hight creating a t swing low. dunno how far it will go. that's trading, man.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
hello dw, i am glad to see your trades sail v. good today according to your wish 
cheers
the market proved me wrong with my PA on U-CAD... loss 81 pips
on the other hand... the market "followed" my wish to hit E-G (finally)... 110 pips gained
cheers
add: thx, dw, on advising me the SLo on E-G.
cheers
hi dw, u-cad is another example of which TL iscorrect to use for analysis. but it is not that confusing comparing to a-j. btw i short this pair this morning after the doji followed by the bearish candle
backto work... chow... tq.
on the other hand... the market "followed" my wish to hit E-G (finally)... 110 pips gained
cheers
add: thx, dw, on advising me the SLo on E-G.
- #670
- Sep 9, 2011 8:03am Sep 9, 2011 8:03am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #671
- Sep 9, 2011 8:09am Sep 9, 2011 8:09am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
again the market swung down to wipe / hit my silver SLo for 32 pips loss
i wonder is there any correlation between metal vs AUD?anyone pls. comment (thanks for your time)
BE can sometimes be premature, but I make good use of it so as to not let trades that have some profit in them become losing trades (as frustrating as it is at times to have BE hit and give pips back to the market).
As far as correlation, my advice is not to pay too much attention to it otherwise you can get caught up in looking at one chart thinking the other will follow. There are certain pairs that have similar trading patterns, but base each PA analysis on its own merit.
Good work on the EG trade, some nice pips there, how did your trailing stop work for ya ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
dw, during my break in the office today, i checked and spotted a potential move on u-sg... i long when seeing the candle was moving up on H1... then i quickly turned to 5M to confirm the swing "up and down" sign on TL (dw, or sifu this is the lesson i learnt from you... tq)... which it did 
i was surprised the "shot up" 
well... old story i am puzzled with the TP or RR 
(i will return after my meal)
cheers
this is the lesson i learnt from you... tq)... which it did i was surprised the "shot up" well... old story i am puzzled with the TP or RR (i will return after my meal)cheers
- #674
- Edited 9:14am Sep 9, 2011 8:27am | Edited 9:14am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
excellent, dw
was it right... you short once the top red bearish candle (nearest to the upper HL) closed below its last candle's open? or what PA sign was that?
From the image see if this makes sense to why I took the trade.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #676
- Edited 9:27am Sep 9, 2011 8:44am | Edited 9:27am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
dw, during my break in the office today, i checked and spotted a potential move on u-sg... i long when seeing the candle was moving up on H1... then i quickly turned to 5M to confirm the swing "up and down" sign on TL (dw, or sifu
cheers
Nice trade, well done.
Well quite simply TP at what you believe is support or resistance area that price may stall and reverse at. Or start trailing the position up to lock in profits.
TP is always the hardest bit of trading. Something that will always be frustating and there is no hard and fast rule and no right and wrong. There will be times when you TP and get out and the market goes x amout of pips further and you miss out on that. There will be times when you get out and straight away the market reverses and it seems you got out at the right time.
I believe if you TP at the a set level then be happy with your decision move on to the next opportunity even if it continues on. When you manage to get on a nice move then trailing it is a good option, you will eventually need to make the choice of either simply taking your profit off the table at a certain level or continue to trail and eventually give x amount of pips back when the market moves back to your trailing stop.
I still to this day toss it up now and then, to trail or not to trail. Buy I am a big believer of making use of BE to prevent a loss, and then decide from there how you are going to manage the trade. Its one of those things that you just need to decide how your going to do it as part of your trading plan and then manage it as it happens.
Pesonally I choose most of the time to get out at support and resistance areas, especially on my short term trades but yes that means there are times when I miss the larger moves.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #677
- Sep 9, 2011 8:46am Sep 9, 2011 8:46am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
- #679
- Sep 9, 2011 8:52am Sep 9, 2011 8:52am
- Joined Jun 2008 | Status: Plan your trade... Trade your plan | 3,710 Posts
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1