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  • #11,061
  • Feb 13, 2012 6:23am Feb 13, 2012 6:23am
Quoting T@rantula
Retest in play! Dont short it w/o confirmation.
how do u get that confirmation ? retest 3250/3248 level and 3244 seems to hold as s
  • #11,062
  • Feb 13, 2012 6:29am Feb 13, 2012 6:29am
Quoting T@rantula
Attachment
Low of 3242 needs to break. If it jumps to 3260, retested failed, so the trade is not valid. Watch 3242 break, BPC valid if it breaks.
see if the TL moving down holds...
Attached Image (click to enlarge)
Click to Enlarge Name: m15.png Size: 67 KB
  • #11,063
  • Feb 13, 2012 6:30am Feb 13, 2012 6:30am
Quoting huskyboy
how do u get that confirmation ? retest 3250/3248 level and 3244 seems to hold as s
Take a look at the post above. That is how BPC is traded.
  • #11,064
  • Feb 13, 2012 6:35am Feb 13, 2012 6:35am
Quoting T@rantula
I understand you. Not only it is better then a losing trade, sometimes having no position is same as having an opened profitable position.

I personally dont regret if I miss the opportunity as I have a personally developed way of trading. Being a daytrader usually there are many opportunities during the day. But I dont exploit them all. My trading is compounding based. When I get to my profit level, I stop for that day, no matter the opportunities.
Yep, been there too, what do you do when you not only miss the target for the day but lose profits earned day before?
Don't get mad, get even!
  • #11,065
  • Feb 13, 2012 6:37am Feb 13, 2012 6:37am
Quoting stulic
Yep, been there too, what do you do when you not only miss the target for the day but lose profits earned day before?
There is maximum risk im willing to take. NO REVENGE trading. If it happens, i will stop for that day. 35 pips 1/1 position is the MAXIMUM LOSS im willing to take in a single day.
  • #11,066
  • Feb 13, 2012 6:46am Feb 13, 2012 6:46am
Quoting T@rantula
There is maximum risk im willing to take. NO REVENGE trading. If it happens, i will stop for that day. 35 pips 1/1 position is the MAXIMUM LOSS im willing to take in a single day.
did you practice controlling revenge trading or did it come naturally? Its the one thing i can't control - in fact i am extremely bad at it...
  • #11,067
  • Feb 13, 2012 6:48am Feb 13, 2012 6:48am
Quoting jaylovin
did you practice controlling revenge trading or did it come naturally? Its the one thing i can't control - in fact i am extremely bad at it...
It didnt come naturally. I have learnt it hard way.
  • #11,068
  • Feb 13, 2012 6:52am Feb 13, 2012 6:52am
For example...

This BPC potential trade is no valid for me. I wouldnt trade it now, because 50 was breached to the upside again. Even if it comes down again, there are rules which NEED to be respected.

If u have made money even if u r BE today...wait! There will be another opportunity.

In 30 mins volatility should be back, peaking just after 14.30 GMT
  • #11,069
  • Feb 13, 2012 6:58am Feb 13, 2012 6:58am
Now u see why I didnt put a short on the very first break of 3250.
  • #11,070
  • Feb 13, 2012 7:01am Feb 13, 2012 7:01am
Quoting T@rantula
Now u see why I didnt put a short on the very first break of 3250.

yup I see...but i wouldn't place any trades at this level myself... buy low sell high..
  • #11,071
  • Feb 13, 2012 7:04am Feb 13, 2012 7:04am
Quoting jaylovin
yup I see...but i wouldn't place any trades at this level myself... buy low sell high..
Me 2. Next Valid hours for another trade setup are around 13.30 gmt and 14.30 gmt.
  • #11,072
  • Feb 13, 2012 7:10am Feb 13, 2012 7:10am
i just wanna say.. I do see this hitting 1.34 but prefer to see a dip down first... of course nothing set in stone - market can kill us all and then carry on while laughing.. hence why i believe in stops at BE... and always take something when in profit...

for those that wanna know what T means when he is talking about scaling out... babypips have a great section on it

http://www.babypips.com/school/what-is-scaling.html
  • #11,073
  • Feb 13, 2012 7:15am Feb 13, 2012 7:15am
Quoting jaylovin

for those that wanna know what T means when he is talking about scaling out... babypips have a great section on it

http://www.babypips.com/school/what-is-scaling.html
Nice Worth reading.

  • #11,074
  • Feb 13, 2012 7:34am Feb 13, 2012 7:34am
Quoting T@rantula
Nice Worth reading.

thanks guys was short @3250 and closed be
  • #11,075
  • Edited 7:52am Feb 13, 2012 7:48am | Edited 7:52am
We got 45 min till WS opening, open banks might as usually do a bit of hunting, same as Frankfurt does, it appears to me we're gonna make LL's first then later crack new HH's.
Aussie is about to form a bull flag on M5 M15
Don't get mad, get even!
  • #11,076
  • Feb 13, 2012 7:49am Feb 13, 2012 7:49am
Quoting huskyboy
thanks guys was short @3250 and closed be
We could break 3250 soon, momentum is needed. Looks like momentum shift...
  • #11,077
  • Feb 13, 2012 7:51am Feb 13, 2012 7:51am
Quoting stulic
it appears to me we're gonna make LL's first then later crack new HH's.

Edit: WS futures have reversed and could open lower now.
It looks like it. Exactly the same opinion.
  • #11,078
  • Feb 13, 2012 7:52am Feb 13, 2012 7:52am
testing 3238, missed opportunity to short again at 3255 (touch tl)
  • #11,079
  • Feb 13, 2012 7:57am Feb 13, 2012 7:57am
Don't wanna get fooled by a fake.
Don't get mad, get even!
  • #11,080
  • Feb 13, 2012 8:02am Feb 13, 2012 8:02am

Quoting T@rantula
Me 2. Next Valid hours for another trade setup are around 13.30 gmt and 14.30 gmt.
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