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Fail Better

  • #1,961
  • Nov 4, 2011 3:36pm Nov 4, 2011 3:36pm
Quoting shanto_w
Shouldn't one analyse their past trades to pick up on mistakes and where they went wrong no?
Agree Shanto, we should analyse past trades. But if we find that everything was correct when the trade was entered, and it just failed for no reason, so be it.
If it's too good to be true, it probably is.
  • #1,962
  • Nov 4, 2011 3:38pm Nov 4, 2011 3:38pm
Quoting SimonK
Agree Shanto, we should analyse past trades. But if we find that everything was correct when the trade was entered, and it just failed for no reason, so be it.
That's true Simon, it's all about probabilities so the odd one will go a miss
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  • #1,963
  • Nov 4, 2011 4:32pm Nov 4, 2011 4:32pm
Hi, anyone have any comments on this short on EUR/USD, I marked the entry with an arrow and was out with a small SL. I'm usually pretty decent at touches but I'm always ready to learn! I'm wondering if I called it wrong, or if I could have read the 000 level better?

Dave.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD15.gif Size: 25 KB
  • #1,964
  • Nov 5, 2011 9:50am Nov 5, 2011 9:50am
Quoting dave0
Hi, anyone have any comments on this short on EUR/USD, I marked the entry with an arrow and was out with a small SL. I'm usually pretty decent at touches but I'm always ready to learn! I'm wondering if I called it wrong, or if I could have read the 000 level better?

Dave.
I think your level was good in my opinion, but I would have placed my stoploss above that long red bar that broke price below that level initially. I believe Tom states this type of stoploss strategy on some of his trades (correct me if i'm wrong). That might have kept you in the trade. My 2 cents.
  • #1,965
  • Nov 5, 2011 3:11pm Nov 5, 2011 3:11pm
Quoting dave0
Hi, anyone have any comments on this short on EUR/USD, I marked the entry with an arrow and was out with a small SL. I'm usually pretty decent at touches but I'm always ready to learn! I'm wondering if I called it wrong, or if I could have read the 000 level better?

Dave.
I was in that level also. I was luck enough to close the trade at BE, when the price action didnt convince me at all. My SL was 10 pips

This was on m15/m30 so they tend to work less.
Greetings, BeLikewater
  • #1,966
  • Nov 5, 2011 4:07pm Nov 5, 2011 4:07pm
Quoting dave0
Hi, anyone have any comments on this short on EUR/USD, I marked the entry with an arrow and was out with a small SL. I'm usually pretty decent at touches but I'm always ready to learn! I'm wondering if I called it wrong, or if I could have read the 000 level better?

Dave.
It bounced at another flip zone. See chart attached...
Attached Image (click to enlarge)
Click to Enlarge Name: euro_why_it_bounced.jpg Size: 94 KB
If it's too good to be true, it probably is.
  • #1,967
  • Nov 5, 2011 6:42pm Nov 5, 2011 6:42pm
Quoting dave0
Hi, anyone have any comments on this short on EUR/USD, I marked the entry with an arrow and was out with a small SL. I'm usually pretty decent at touches but I'm always ready to learn! I'm wondering if I called it wrong, or if I could have read the 000 level better?

Dave.
I think that your entry has to be at the mean of the lows and not at the lowest low. This would have given you a more reasonable entry point for a bounce. Also the fact that you used a lower timeframe, ie. the 15min instead of the hourly, would mean that the level would be less reliable as Tom has stated previously. The higher the timeframe, the more reliable the level and the higher probability of a bounce at that level.
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  • #1,968
  • Nov 7, 2011 7:11am Nov 7, 2011 7:11am
Captivated by this thread, so I thought I'd post one on aussie...
Attached Image (click to enlarge)
Click to Enlarge Name: aussie_for_thread.jpg Size: 119 KB
If it's too good to be true, it probably is.
  • #1,969
  • Nov 7, 2011 8:07am Nov 7, 2011 8:07am
Took this on EUR/USD earlier. Entered at 1.3718 and took profits at 1.3752 for +34 pips, and it took all of 2 minutes to happen! Should have played this one longer as there was a stronger trouble area ahead which it bounced off and came back down.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1.gif Size: 58 KB
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  • #1,970
  • Nov 7, 2011 8:34am Nov 7, 2011 8:34am
Quoting SimonK
Captivated by this thread, so I thought I'd post one on aussie...
Got as far as 30 pips and retraced to b/e. Guess I'm one of those b/e guys!
If it's too good to be true, it probably is.
  • #1,971
  • Nov 7, 2011 11:26am Nov 7, 2011 11:26am
May get a run here.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_44 Nov. 07 17.24.jpg Size: 88 KB
  • #1,972
  • Nov 7, 2011 3:08pm Nov 7, 2011 3:08pm
I know Tom doesnt like this pair but... seems good enough...


(ITS THE GREEN LINE)





http://content.screencast.com/users/...11-07_2200.png
Greetings, BeLikewater
  • #1,973
  • Nov 7, 2011 3:58pm Nov 7, 2011 3:58pm
I took this trade earlier and it didnt turn out too well and I was taken out for my stop for -33 pips. As can be seen on the chart, there is SFP where the green tick is located. The blue line is a H1 support level. Any ideas why this didn't come back down after the SFP? Cheers.

Attached Image (click to enlarge)
Click to Enlarge Name: eurchfh1.gif Size: 24 KB
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  • #1,974
  • Nov 8, 2011 4:41am Nov 8, 2011 4:41am
Cable pivot and how I think we'll get there. Hope you don't mind me adding my Seiden style levels, Tom.
Attached Image (click to enlarge)
Click to Enlarge Name: cable_1hr.jpg Size: 111 KB
If it's too good to be true, it probably is.
  • #1,975
  • Nov 8, 2011 4:51am Nov 8, 2011 4:51am
Quoting 4FXsake
May get a run here.
What time frame is this?
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  • #1,976
  • Nov 8, 2011 6:36am Nov 8, 2011 6:36am
Scalp for me....sfp key area where lots of R IMO ...entered on close..out at previous S
Attached Image (click to enlarge)
Click to Enlarge Name: 1b.jpg Size: 153 KB
  • #1,977
  • Nov 8, 2011 7:14am Nov 8, 2011 7:14am
Quoting shanto_w
I took this trade earlier and it didnt turn out too well and I was taken out for my stop for -33 pips. As can be seen on the chart, there is SFP where the green tick is located. The blue line is a H1 support level. Any ideas why this didn't come back down after the SFP? Cheers.

Attachment
Some don't work. On H1 they work best during periods of extended range, not area's where price is blasting off or tanking.

They were never meant to be traded on the hourly, or any TF for that matter. SFP's came about to be used as bias on the D1 time frame, they are most accurate there. And like most other trading methods they work much better on the majors, forget the crosses.
  • #1,978
  • Nov 8, 2011 7:24am Nov 8, 2011 7:24am
Quoting BeLikeWater
I know Tom doesnt like this pair but... seems good enough...


(ITS THE GREEN LINE)





http://content.screencast.com/users/...11-07_2200.png
How'd that cross trade work out for you? Hope u squeezed some pips out.
  • #1,979
  • Nov 8, 2011 8:24am Nov 8, 2011 8:24am
Approaching a nice level on Vodafone with D1 bias.

Attached Image (click to enlarge)
Click to Enlarge Name: vodh1.gif Size: 28 KB
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  • #1,980
  • Nov 8, 2011 8:30am Nov 8, 2011 8:30am
USDJPY is tanking towards a key level...

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh1.gif Size: 21 KB
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