KEEP IT SIMPLE PIPPING
Intraday price action trend trading
- #9,202
- Jan 25, 2012 10:36pm Jan 25, 2012 10:36pm
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,203
- Jan 26, 2012 4:56am Jan 26, 2012 4:56am
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,204
- Jan 26, 2012 8:16am Jan 26, 2012 8:16am
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,206
- Jan 26, 2012 12:05pm Jan 26, 2012 12:05pm
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,207
- Jan 26, 2012 8:48pm Jan 26, 2012 8:48pm
Hi Nanitoide,
How big was your SL? I see your entries where good but don't you move your SL to BE when the market has moved the length of your SL? You where up about 25+ pips on both trades when they reversed on you and went negative just something to think about.
Personally I would have exited at first support level and then looked to get back in if the set up occured.
No correction. So it can be.
http://savepic.net/2423307m.gifhttp://savepic.net/2419211m.gif
My initial stop for first position was 15 pips. After I removed the stop order. It's confusing, right?
It was my plan.
I looked at the price. I watched the momentum. He was bearish.
It was a false bullish breakout. Put yourself in the shoes of the investor. Retail traders need a stop loss. Investors do not need stop loss orders.
If I put a short stop-loss, then it would be knocked out.
I was looking for candles, which were formed after the break. If the price was fixed and established a new high. Then I would have walked out. Would close the loss-making positions.
I moved two positions to breakeven when the price reached the zone demand.
Then price has gone even lower. She went to the next zone of demand. Here I closed the positions.
p.s. sorry for my english.
"To become a pro you have to think like a pro". 
Sho
Sho- #9,208
- Jan 26, 2012 9:08pm Jan 26, 2012 9:08pm
Hi, stevepatt.
No correction. So it can be.
http://savepic.net/2423307m.gifhttp://savepic.net/2419211m.gif
My initial stop for first position was 15 pips. After I removed the stop order. It's confusing, right?
It was my plan.
I looked at the price. I watched the momentum. He was bearish.
It was a false bullish breakout. Put yourself in the shoes of the investor. Retail traders need a stop loss. [b]Investors do not need...
- #9,210
- Jan 26, 2012 9:16pm Jan 26, 2012 9:16pm
trading w/o stoplosses is a risky play... big guys(you said investors) have a deep pocket, you do not
And so what?
They have big lots. I have a micro.
You must understand the psychology of the investor, then you can see them.
"To become a pro you have to think like a pro". Sho
Sho- #9,213
- Jan 27, 2012 4:18am Jan 27, 2012 4:18am
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,215
- Jan 27, 2012 5:56am Jan 27, 2012 5:56am
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,216
- Jan 27, 2012 5:57am Jan 27, 2012 5:57am
Hi, Gravi.
And so what?
They have big lots. I have a micro.
You must understand the psychology of the investor, then you can see them.
Don't let your stop become bigger and bigger. It's too dangerous;
Protect your capital first, move your stop at BE fastly and take some profit fastly.
Nobody knows how many pips he can do after his entry. The only thing you can master is how you manage your trade. Nobody knows where the market will go, NOBODY.
I have notice daytrading after daytrading that you must take what market give you. It turns so often.
Have an edge(momentum, HH, HL, pattern...) and play your edge.
Take some pips on a part of your position and trail your stop to BE. Maybe after the market will go against you, maybe it will be a homerun, no matter.
If it goes against you, you have some pips in the bank, and if it is a homerun, you have a part of your position in for big profits: it's all in trade management. The less stoploss, the better. Profit must be manage at the best, but came after;
Work on that buddies.
Bouba
I hear and I forget. I see and I remember. I do and I understand.
- #9,217
- Jan 27, 2012 6:12am Jan 27, 2012 6:12am
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,218
- Jan 27, 2012 6:47am Jan 27, 2012 6:47am
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
- #9,219
- Jan 27, 2012 8:31am Jan 27, 2012 8:31am
- Joined Dec 2010 | Status: Never Stop Learning | 7,349 Posts
