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Fail Better

  • #2,081
  • Nov 24, 2011 3:37pm Nov 24, 2011 3:37pm
Quoting shanto_w
Hi Tom,

Did you trade Tesco @385 after you mentioned it on twitter a while back? I was stopped out at 382.4.

Cheers,
Shanto
That is a very tight stop, a stop of around 370 would have been appropriate for this trade IMO. All in full glorious hindsight!
  • #2,082
  • Nov 25, 2011 6:34am Nov 25, 2011 6:34am
http://content.screencast.com/users/...oportunity.png
Greetings, BeLikewater
  • #2,083
  • Nov 25, 2011 9:25am Nov 25, 2011 9:25am
Quoting BeLikeWater
http://content.screencast.com/users/...oportunity.png
Lovely trade BLW, dont come much better!! What was your rr?
  • #2,084
  • Nov 25, 2011 3:59pm Nov 25, 2011 3:59pm
Quoting Kalbar
Lovely trade BLW, dont come much better!! What was your rr?
I didnt caught that :/ But with TOM levels I use very very small SL (max 20 pips) and TP big 80-100 pips minimun if we are in trend like we were. See my EUR/JPY trade from my journal lovely.
Greetings, BeLikewater
  • #2,085
  • Nov 29, 2011 8:08am Nov 29, 2011 8:08am
They don't come much better than these, do they?

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  • #2,086
  • Nov 29, 2011 9:34am Nov 29, 2011 9:34am
Anyone got their eye on this one? thoughts??
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  • #2,087
  • Nov 29, 2011 10:39am Nov 29, 2011 10:39am
Quoting gdb
Anyone got their eye on this one? thoughts??
I think the level is not bad, it is better seen on H4, the problem is consolidation zone that is created below this level at 40 so you would need to tak profit above at 50-55, so your SL would need to be small to justify such a small profit potential.
  • #2,088
  • Nov 29, 2011 11:29am Nov 29, 2011 11:29am
Quoting alter
I think the level is not bad, it is better seen on H4, the problem is consolidation zone that is created below this level at 40 so you would need to tak profit above at 50-55, so your SL would need to be small to justify such a small profit potential.
agree
Greetings, BeLikewater
  • #2,089
  • Nov 29, 2011 11:32am Nov 29, 2011 11:32am
http://content.screencast.com/users/...11-29_1619.png
Greetings, BeLikewater
  • #2,090
  • Nov 29, 2011 11:59am Nov 29, 2011 11:59am
Quoting gdb
Anyone got their eye on this one? thoughts??
Yep, had this one marked up for awhile. Still solid IMO.
  • #2,091
  • Nov 29, 2011 12:34pm Nov 29, 2011 12:34pm
Quoting 96flavors
They don't come much better than these, do they?

Attachment

Attachment
Had that level marked but unfortunately wasn't at my desk to trade it, good job
Follow me on twitter: @shantrades
  • #2,092
  • Nov 29, 2011 12:36pm Nov 29, 2011 12:36pm
Quoting gdb
Anyone got their eye on this one? thoughts??
I'm in two minds on this one, I'll personally trade it if there is a rally into the level
Follow me on twitter: @shantrades
  • #2,093
  • Nov 29, 2011 1:02pm Nov 29, 2011 1:02pm
Anyone short this earlier at 5345? Kicking myself that I couldn't trade today

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Follow me on twitter: @shantrades
  • #2,094
  • Edited Nov 30, 2011 6:16am Nov 29, 2011 10:28pm | Edited Nov 30, 2011 6:16am
Caught this one earlier and have come back to it. I worked out very nicely. I have taken some profit at 40 pips from a 17 pip risk and will be looking to see how it reacts around the 1.0045/50 candle low area to see if it is worthwhile adding a small short position. Target around .9950 would be a nice return.

Take care

RT

Edit: Missed TP by 8-10 pips before shooting away. Kind of bummed by it but I wasn't around for it to manage. Have closed out now for a total of 40 pips on 1 half and 11 pips on the other. Still averages out well and shows the power of SFPs.
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  • #2,095
  • Edited 5:49am Dec 1, 2011 5:22am | Edited 5:49am
Does anyone fancy buying cable at 1.5585?
It's the lowest blue line marked on my hourly chart below


EDIT: Oh, balls. My first trade suggestion on this thread and I commit schoolboy error no.1. I just realised it was support last, so am cancelling my order. I need to improve my checklist.
Attached Image (click to enlarge)
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  • #2,096
  • Dec 1, 2011 5:47am Dec 1, 2011 5:47am
Quoting BadgerMatt
Does anyone fancy buying cable at 1.5585?
It's the lowest blue line marked on my hourly chart below
Not for me. The level was support last.
  • #2,097
  • Dec 1, 2011 6:01am Dec 1, 2011 6:01am
Quoting Gt3rs
Not for me. The level was support last.
Thanks Gt3rs. This is one thing which keeps tripping me up. I always check that it was not last support (or resistance if I'm looking to sell), but for some reason I keep only looking at the chart since price broke through the level. I think I sub-consciously assume that because price has recently broken up through the level means that it acted as resistance while price was below it. Of course that's not necessarily the case, as this chart shows nicely.

Annoying to keep getting this wrong because it's so simple!
  • #2,098
  • Dec 1, 2011 6:57am Dec 1, 2011 6:57am
Quoting Gt3rs
Not for me. The level was support last.
It depends how you look at it. For me it looks more like a zone which has been broken yesterday which is much more clear on daily timeframe. H4 PA suggest fresh buyers coming in on the retest and i believe we might have a test of yesterday high sooner or later.
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  • #2,099
  • Dec 1, 2011 7:58am Dec 1, 2011 7:58am
Quoting BadgerMatt
Does anyone fancy buying cable at 1.5585?
It's the lowest blue line marked on my hourly chart below


EDIT: Oh, balls. My first trade suggestion on this thread and I commit schoolboy error no.1. I just realised it was support last, so am cancelling my order. I need to improve my checklist.
Hi Matt

Dont worry too much as it will come with time and experience and paying attention to the more experienced traders on this thread!! it is what I am trying to do myself!!

Kal
  • #2,100
  • Dec 2, 2011 6:49am Dec 2, 2011 6:49am
Hello everyone, possible long trade on Gold Spot happening right now,

Attached Image (click to enlarge)
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http://screencast.com/t/2BhVs2Cef

Just have in mind Usd unemployment news in 40 mins.

Follow your plan, control the risk and let the market come to you.

Trade safe
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