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Make Money Everyday - A Guide to Short-Term Trading

  • #841
  • Sep 27, 2011 10:01am Sep 27, 2011 10:01am
Quoting enochben
yeah - my filters seem to be keeping me out - so thats a good thing. i am starting to think london is the better session to trade....
Sometime London's a choppy bastard too! What time is London Open where you are? 4am?
  • #842
  • Sep 27, 2011 10:21am Sep 27, 2011 10:21am
Quoting nhen
Sometime London's a choppy bastard too! What time is London Open where you are? 4am?
No I think more like 1 am
  • #843
  • Sep 27, 2011 10:25am Sep 27, 2011 10:25am
Quoting enochben
No I think more like 1 am
Right on, starting at 1am and trading through could make for some interesting sleeping patterns
Speaking of 1am it's about twenty past one here so I'm gonna call it a night on the lappy and continue writing notes the old fashioned way :nerd:

Hope the night/day treats you well.
  • #844
  • Sep 27, 2011 10:28am Sep 27, 2011 10:28am
Saw this somewhere here too, haven't looked at it closely but maybe worth reading if bored.
Attached Image (click to enlarge)
Click to Enlarge Name: marketstructure.png Size: 223 KB
  • #845
  • Sep 28, 2011 8:20am Sep 28, 2011 8:20am
Thought this was pretty appropriate to trading
Keep it loose, keep it tight.
I take that to mean - Keep it fluid and patient.. and keep it focussed.

http://www.youtube.com/watch?v=TmQFwIKsU1U
  • #846
  • Sep 28, 2011 8:31am Sep 28, 2011 8:31am
As a trader - this is one of the most important skills we have - Learning how to take a loss. Good article - Learn to take the loss and go.

http://www.ritholtz.com/blog/2011/09...Big+Picture%29
  • #847
  • Sep 28, 2011 8:35am Sep 28, 2011 8:35am
Quoting nhen
Thought this was pretty appropriate to trading
Keep it loose, keep it tight.
I take that to mean - Keep it fluid and patient.. and keep it focussed.

http://www.youtube.com/watch?v=TmQFwIKsU1U
Awesome.
  • #848
  • Sep 28, 2011 9:37am Sep 28, 2011 9:37am
Quoting mongolian
As a trader - this is one of the most important skills we have - Learning how to take a loss. Good article - Learn to take the loss and go.

http://www.ritholtz.com/blog/2011/09...Big+Picture%29
Great article, shared on my fb.
  • #849
  • Sep 28, 2011 8:17pm Sep 28, 2011 8:17pm
Head and Shoulders!! Unfortunately - being right but being early = losing money. I was right...just too early. Figures.

Mongolian
  • #850
  • Sep 28, 2011 8:48pm Sep 28, 2011 8:48pm
Quoting mongolian
Head and Shoulders!! Unfortunately - being right but being early = losing money. I was right...just too early. Figures.

Mongolian
don't worry br0, you were not alone. i took the same trade at the same level 3 times today and lost each time (last time with a wider stop than I shoulda) and the fourth time she drop her pants and didn't look back... by then i had spent my load and was ready for a nap.

can't win em all!
  • #851
  • Sep 28, 2011 9:54pm Sep 28, 2011 9:54pm
Quoting enochben
don't worry br0, you were not alone. i took the same trade at the same level 3 times today and lost each time (last time with a wider stop than I shoulda) and the fourth time she drop her pants and didn't look back... by then i had spent my load and was ready for a nap.

can't win em all!
Aggravating wasn't it?? It setup nice to start and just didn't follow through until we had walked away. Was 'chatting' with nhen and I told him - just because i'm going to write this - it's going to blow up in my face - but here we go... sure enough - blew threw 2 orders in about 15 seconds. Walk away - check back later... OH what do you know... I was right. We'll get back it tomorrow.

M
  • #852
  • Sep 28, 2011 10:11pm Sep 28, 2011 10:11pm
Quoting mongolian
Aggravating wasn't it?? It setup nice to start and just didn't follow through until we had walked away. Was 'chatting' with nhen and I told him - just because i'm going to write this - it's going to blow up in my face - but here we go... sure enough - blew threw 2 orders in about 15 seconds. Walk away - check back later... OH what do you know... I was right. We'll get back it tomorrow.

M
Haha I havent checked my charts yet but I think I can picture how it went down.
Those bastards must've been spying on our chat
  • #853
  • Sep 28, 2011 10:15pm Sep 28, 2011 10:15pm
Quoting enochben
don't worry br0, you were not alone. i took the same trade at the same level 3 times today and lost each time (last time with a wider stop than I shoulda) and the fourth time she drop her pants and didn't look back... by then i had spent my load and was ready for a nap.

can't win em all!
  • #854
  • Sep 28, 2011 11:35pm Sep 28, 2011 11:35pm
So this how I think I would have traded the PA after I went to bed last night.
All my profit before hand is just paper trading profit, so no real money made here. I'm just refining what I'm looking for and getting solid in executing it before I go back to my account.

The thing I've noticed on this and I've seen it on my other charts, is that it almost doesn't matter what your bias is (at certain times) as long as you switch when PA gives you the clues.
Because really what we're trading is that price moves between the QTRs and mid points. So at certain points in the session you can be long and right or you can be short and right. As long as when it breaks the area you are taking the hints, either way can be profitable.

Or maybe I'm totally wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: eu 28-09-11 ny notes and more pa.png Size: 70 KB
  • #855
  • Sep 28, 2011 11:42pm Sep 28, 2011 11:42pm
I'm playing a mate of mine in pool tonight next door, the winner gets a free dinner (shit I'm a phat rhymer).
So I'll probably be a little late to London, see you when I get there, trade well boys!
  • #856
  • Sep 29, 2011 7:58am Sep 29, 2011 7:58am
It's official. I am actually terrified of 1.3625 and will never trade that level again!
  • #857
  • Sep 29, 2011 8:41am Sep 29, 2011 8:41am
Quoting enochben
It's official. I am actually terrified of 1.3625 and will never trade that level again!
Haha 1.3625 has been nice to me tonight, taken 36 from her. Might be another 12 here if it gets to 1.36125.. OK got there.

What were your trades?
  • #858
  • Sep 29, 2011 8:46am Sep 29, 2011 8:46am
Quoting nhen
Haha 1.3625 has been nice to me tonight, taken 36 from her. Might be another 12 here if it gets to 1.36125.. OK got there.

What were your trades?
OK I miscalculated.. I've taken 66 and she's taken 18 back off me.

But this is paper so means jack.. but at least I am reading things better than before.

Sheesh another trade off 1.3625 to 1.36125, didn't take it. Might not make it..
  • #859
  • Sep 29, 2011 8:56am Sep 29, 2011 8:56am
Quoting nhen
OK I miscalculated.. I've taken 66 and she's taken 18 back off me.

But this is paper so means jack.. but at least I am reading things better than before.

Sheesh another trade off 1.3625 to 1.36125, didn't take it. Might not make it..
and here she comes AGAIN! Yikes!
  • #860
  • Sep 29, 2011 9:02am Sep 29, 2011 9:02am
Quoting enochben
and here she comes AGAIN! Yikes!
Too easy Didn't quite get there on last one. Could've shorted at 1.36375, but chopping about a bit. REckon it will get there.. Probably won't now I've said that
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