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Fail Better

  • #2,901
  • Feb 23, 2012 1:27pm Feb 23, 2012 1:27pm
Quoting the_wizard
I had four losers in a row just before Christmas. It wasn't pleasant.

You seem to be a very good trader from what I read of your comments so keep it up.

Markets won a few battles but it sure as hell ain't winning the war.

Just keep your head straight, my man.
Thanks Tom.

really appreciate your kind words.I do my best and that's all one can do.

And I think I read somewhere in one of your threads(totally recommended for people to read) that "there will be time when you have 10 loosers in a row and that should not affect the placement of your 11th trade" and I think I need to hold onto the concept and march on.

Your tweets , previous threads & webinars have been immensely helpful and yes we will win the war. You have re energized me.

Ready for Next battle
  • #2,902
  • Feb 23, 2012 1:43pm Feb 23, 2012 1:43pm
missed by few pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
  • #2,903
  • Feb 23, 2012 2:52pm Feb 23, 2012 2:52pm
I am happy that my trade worked out but I am not sure about where a TP is put in a proper way. As you can see in the attached chart I missed a lot of pips. How can I choose a TP in a better way?
Attached Image (click to enlarge)
Click to Enlarge Name: TP.jpg Size: 111 KB
  • #2,904
  • Feb 24, 2012 4:32am Feb 24, 2012 4:32am
Quoting APeng
I am happy that my trade worked out but I am not sure about where a TP is put in a proper way. As you can see in the attached chart I missed a lot of pips. How can I choose a TP in a better way?
Missed that one by 0.5 of a pip. Happening a lot with my broker so maybe time for a change!!
  • #2,905
  • Edited 7:58am Feb 24, 2012 6:04am | Edited 7:58am
Anyone else taking that one?

http://content.screencast.com/users/...34f1539/gu.gif

Edit: Taken out - Obsvl no good spot to short
  • #2,906
  • Feb 24, 2012 6:09am Feb 24, 2012 6:09am
Quoting Kalbar
Missed that one by 0.5 of a pip. Happening a lot with my broker so maybe time for a change!!
Happened to me too. Especially when I buy, because shown price is bid and so it has not only to hit the level but to drop under it at least for the spread. Maybe it is an option to get into the market e.g. 3 points befor the level is hit.
  • #2,907
  • Feb 24, 2012 1:44pm Feb 24, 2012 1:44pm
I got a big loss here:

http://content.screencast.com/users/...02-24_2029.png
Greetings, BeLikewater
  • #2,908
  • Feb 24, 2012 2:30pm Feb 24, 2012 2:30pm
Quoting gudras
missed by few pips
my level was drawn in @ 13285, however the rr didnt have much space so i didnt take it.

interesting to know where tom had his level drawn in.
  • #2,909
  • Feb 24, 2012 2:35pm Feb 24, 2012 2:35pm
Quoting Czecze
Anyone else taking that one?

http://content.screencast.com/users/...34f1539/gu.gif

Edit: Taken out - Obsvl no good spot to short

Hi Czecze

I got hit on this one aswell, was shorting that area based on the ppz + D1 big high to big low 61%fib and the almost done ATR. I thought the sfp was a bonus.
There was a warning sign though, the GBP negative news from 2hrs earlier seemed to have a positive effect rather than negative. This usually isnt a good sign.
Ahh well, onwards we go.
  • #2,910
  • Feb 24, 2012 2:48pm Feb 24, 2012 2:48pm
hey patrino,

I was thinking of that trade and I came to the conclusion that the lvl wasn't that good in my eyes.

when you move to the 4H timeframe you can see that the lvl is barely visible.

the best sfp this week on GU was at 1,5654 and right now we are around 1.588...that spot is a significant area as well and would give a good setup if we could get a sfp.

just my 2 cents
  • #2,911
  • Feb 24, 2012 3:09pm Feb 24, 2012 3:09pm
I know its the dead hrs of friday night, but ....
usdchf
ATR finished
Nice ppz zone with space
Not quite an sfp, just short. But a nice pinbar
And a D1 high to low 61.8% fib

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF D1.jpg Size: 156 KB


Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 157 KB
  • #2,912
  • Feb 24, 2012 3:31pm Feb 24, 2012 3:31pm
I do see what you mean Czecze, not quite as clean as other opportunities.
The 1,5654 area you mention was one i caught, only bagged a dozen or so pips on that. And look at it now! Will have to rethink the FTA principle in certain scenarios i think.

All the best!
  • #2,913
  • Feb 25, 2012 10:28am Feb 25, 2012 10:28am
Quoting BeLikeWater
I got a big loss here:

http://content.screencast.com/users/...02-24_2029.png
It's a cross. I wouldn't expect anything else.
  • #2,914
  • Feb 25, 2012 12:38pm Feb 25, 2012 12:38pm
Quoting Patrino
I know its the dead hrs of friday night, but ....
usdchf
ATR finished
Nice ppz zone with space
Not quite an sfp, just short. But a nice pinbar
And a D1 high to low 61.8% fib
... just a couple of thoughts,

Yes trading at the end of the week comes with the risk of not knowing which way price 'may' gap over the weekend, could go either way. If you haven't got any strategy or records for that eventuality then, it would seem to me, to be not worth the rather high chance of it gapping against your position.

It would also be a bummer at the start of the week.

That 8930 low didn't sfp, as you say, but I think more importantly is that it's not really an ideal level to be looking. The previous lows back in November (that you're trying to sfp) are not anything significant and only represent a small pull-back. There is no major swing there and hence the probabilities of it working are reduced.

I'd be much more interested in 8560. If that sfp'd I'd be all over it.

Of course some do work, but be careful of becoming a machine gunner rather than a sniper....

Every trader is different, just my 2 cents.
  • #2,915
  • Feb 25, 2012 4:44pm Feb 25, 2012 4:44pm
Some of my plans of attack going into next week....

http://i1084.photobucket.com/albums/...012OUTLOOK.jpg

USDCAD
Price has been unable to move higher or lower (ok 1pip lower) for last 3 days. Could get a good move off of this price compression.
-SFP off previous swing high. I wouldn't normally consider this a high probability but CAD ranges a lot so this could be possible range top.
-SFP off previous October swing low.
-Break and RR move higher, or lower.

http://i1084.photobucket.com/albums/...012OUTLOOK.jpg

Eurusd......uuurrrgh I'm weary from thinking about this pair.
Not a whole lot of whoopee for me here.
-SFP off the top and maybe looking to get long somewhere but I think there is better hunting elsewhere, well for me anyway.

http://i1084.photobucket.com/albums/...012OUTLOOK.jpg

Cable strapped on the jet pack late in the week and got back up to the top of the range. There is a daily SFP but the timing was off, will be interesting to see if this gaps on Sunday.
-SFP of 5927 double top reversal or,
-SFP 5643 triple bottom reverse and continuation of trend higher
  • #2,916
  • Feb 25, 2012 6:44pm Feb 25, 2012 6:44pm
Quoting the_wizard
It's a cross. I wouldn't expect anything else.
Hi Wiz,

These crosses work quite well on higher timeframes from my experience. This might or might not work out but i dont see here any reason to call it a failed trade atm.
  • #2,917
  • Feb 26, 2012 9:04pm Feb 26, 2012 9:04pm
very nice level here on kiwi
Attached Image (click to enlarge)
Click to Enlarge Name: 27-02-2012 1-56-14 PM.png Size: 18 KB
  • #2,918
  • Feb 27, 2012 12:55am Feb 27, 2012 12:55am
Quoting vasmiza
very nice level here on kiwi
a few hours later
Attached Image (click to enlarge)
Click to Enlarge Name: 27-02-2012 5-54-01 PM.png Size: 14 KB
  • #2,919
  • Edited 3:02am Feb 27, 2012 2:46am | Edited 3:02am
Possible sfp on ucad at the close of this hour, another 15mins.

.....NO SFP
  • #2,920
  • Feb 27, 2012 4:15am Feb 27, 2012 4:15am
http://content.screencast.com/users/...02-27_1101.png
Greetings, BeLikewater
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