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Restart Trading - Mostly Support and Resistance Analysis

  • #41
  • Jun 11, 2012 2:31pm Jun 11, 2012 2:31pm
Quoting tomomi72003
This is my analysis , but I trading it only in Demo.
I will update my analysis if necessary the following days.

Attachment
Cancel pending orders because the s&p already reacted to the resistance area.


Attached Image (click to enlarge)
Click to Enlarge Name: 1.1.gif Size: 35 KB
Failure is a feedback. Learn from it.
  • #42
  • Jun 11, 2012 3:55pm Jun 11, 2012 3:55pm
My 180ema kicked in forcing it lower, bad sign on a M1, screen shot attached, it's working well in the current market conditions, in others well don't ask.
Attached Image (click to enlarge)
Click to Enlarge Name: 180 capped it.jpg Size: 187 KB
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #43
  • Jun 11, 2012 4:08pm Jun 11, 2012 4:08pm
Quoting tomomi72003
15M divergence exhaust itself.

now there is 30M divergence setup (7 bar setup).
Lets see how this divergence will work out.


Attachment
SL hit -30 pips

Attached Image (click to enlarge)
Click to Enlarge Name: 3.3.gif Size: 30 KB
Failure is a feedback. Learn from it.
  • #44
  • Jun 11, 2012 4:11pm Jun 11, 2012 4:11pm
Quoting tomomi72003
SL hit -30 pips

Attachment

just 1 trade, don't take it personally and 1 loser does not = a failed method!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #45
  • Jun 12, 2012 8:21am Jun 12, 2012 8:21am
Short @ 123.601 0.05 lot
Short @ 123.682 0.05 lot

SL @ 123.87 above the high of the day & r1.

Tp @ 123.30 around PP & 50% correction

Reasons for Entry:

Divergence on the 15M chart.
R1


Attached Image (click to enlarge)
Click to Enlarge Name: 4.gif Size: 34 KB
Failure is a feedback. Learn from it.
  • #46
  • Jun 12, 2012 8:49am Jun 12, 2012 8:49am
Quoting tomomi72003
Short @ 123.601 0.05 lot
Short @ 123.682 0.05 lot

SL @ 123.87 above the high of the day & r1.

Tp @ 123.30 around PP & 50% correction

Reasons for Entry:

Divergence on the 15M chart.
R1


Attachment

Almost got stopped out, but price rejected at resistance.

Now finding support at 50 levels.

Attached Image (click to enlarge)
Click to Enlarge Name: 4.1.gif Size: 32 KB
Failure is a feedback. Learn from it.
  • #47
  • Jun 12, 2012 9:21am Jun 12, 2012 9:21am
Quoting tomomi72003
Almost got stopped out, but price rejected at resistance.

Now finding support at 50 levels.

Attachment

TP +30 pips

Attached Image (click to enlarge)
Click to Enlarge Name: 4.2.gif Size: 33 KB
Failure is a feedback. Learn from it.
  • #48
  • Jun 12, 2012 10:52am Jun 12, 2012 10:52am
Short @ 123.677 0.05 lot


SL @ 123.90 above the high of the day & r1.

Tp @ 123.30 around PP & 50% correction


Reasons for Entry (the same as trade 4):

Divergence on the 15M chart.
R1

Attached Image (click to enlarge)
Click to Enlarge Name: 5.gif Size: 32 KB
Failure is a feedback. Learn from it.
  • #49
  • Jun 12, 2012 12:54pm Jun 12, 2012 12:54pm
Short @ 1.2503 0.05 lot
Short @ 1.25046 0.05 lot
Short @ 1.25073 0.03 lot

SL @ 1.2523 above recent highs.

Tp @ 1.2473 around S1


Reasons for Entry:

Choppy day - price expected to go up and down

15M PB.
Weekly PP
Lower Highs at 15 M chart.


Reason NOT to Enter:
00 level .
Time of the day.

Attached Image (click to enlarge)
Click to Enlarge Name: 6.gif Size: 29 KB
Failure is a feedback. Learn from it.
  • #50
  • Jun 12, 2012 12:59pm Jun 12, 2012 12:59pm
Quoting forextraderx
well, good luck with that. I feel you need to spend a lot more time on your own internal psychological situation before you'll ever see success for more than a few months at a time.

Truth is, IMO, whether you make money or not will have nothing to do with what you see on a chart. Your analysis probably isn't the real problem, and no amount of screen time will fix this issue...

Most of us are in that exact boat, but having a method which works is first then learning to trust the method and not trade against it like I normally do is the tricky part, but got to hope it will come in time.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #51
  • Jun 12, 2012 1:10pm Jun 12, 2012 1:10pm
Quoting Turveyd
Most of us are in that exact boat, but having a method which works is first then learning to trust the method and not trade against it like I normally do is the tricky part, but got to hope it will come in time.

Agree with that.

I didnt find a method yet that I could trust with , that over time I will make profits.

Seems like the support and resistance is the way to go , but the tricky thing is to find those levels and to know how to trade at those levels (because those levels are actually zones. so it is hard to trade and also find places for stoploss).
Failure is a feedback. Learn from it.
  • #52
  • Jun 12, 2012 1:43pm Jun 12, 2012 1:43pm
Quoting tomomi72003
Agree with that.

I didnt find a method yet that I could trust with , that over time I will make profits.

Seems like the support and resistance is the way to go , but the tricky thing is to find those levels and to know how to trade at those levels (because those levels are actually zones. so it is hard to trade and also find places for stoploss).

Nothing is exact, higher the TF you trade, bigger the SL's you need to use.

For swing trading, say I had a 60SL, I'd put in an order at -20 and -40 for more lots, all out at the same level being -60 -40 -20 = -120.

If the last 2 fill and the first pos gets back to BE atleast then your still +60, if it gets to +60 then your +60 +80 +100 = +240.


I know it's what we both do wrong, but it's taking our bad side and using it against ourselves kinda, it works well as long as the trend held.

Back to full scalp currently though!

Or something else, think out side the box dude, don't listen to conventional trading wisdom most is there to take your money.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #53
  • Jun 12, 2012 2:20pm Jun 12, 2012 2:20pm
Quoting Turveyd
Nothing is exact, higher the TF you trade, bigger the SL's you need to use.

For swing trading, say I had a 60SL, I'd put in an order at -20 and -40 for more lots, all out at the same level being -60 -40 -20 = -120.

If the last 2 fill and the first pos gets back to BE atleast then your still +60, if it gets to +60 then your +60 +80 +100 = +240.


I know it's what we both do wrong, but it's taking our bad side and using it against ourselves kinda, it works well as long as the trend held.

Back to full scalp currently though!

Or something...

Failure is a feedback. Learn from it.
  • #54
  • Jun 12, 2012 3:28pm Jun 12, 2012 3:28pm
Quoting tomomi72003
Short @ 123.677 0.05 lot


SL @ 123.90 above the high of the day & r1.

Tp @ 123.30 around PP & 50% correction


Reasons for Entry (the same as trade 4):

Divergence on the 15M chart.
R1

Attachment

SL hit - 23 pips

Attached Image (click to enlarge)
Click to Enlarge Name: 5.1.gif Size: 32 KB
Failure is a feedback. Learn from it.
  • #55
  • Jun 13, 2012 8:15am Jun 13, 2012 8:15am
Quoting tomomi72003
Short @ 1.2503 0.05 lot
Short @ 1.25046 0.05 lot
Short @ 1.25073 0.03 lot

SL @ 1.2523 above recent highs.

Tp @ 1.2473 around S1


Reasons for Entry:

Choppy day - price expected to go up and down

15M PB.
Weekly PP
Lower Highs at 15 M chart.


Reason NOT to Enter:
00 level .
Time of the day.

Attachment

SL hit - 23 pips

Attached Image (click to enlarge)
Click to Enlarge Name: 6.1.gif Size: 38 KB
Failure is a feedback. Learn from it.
  • #56
  • Jun 13, 2012 8:18am Jun 13, 2012 8:18am
Too choppy for me to, need direction was lacking earlier.

Slightly Negative here, if I ignore a Oil trade my first lot sizes are 10x's expected instant OUCH and DOH!!



After a string of losses, take a break get some perspective.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57
  • Jun 13, 2012 10:20am Jun 13, 2012 10:20am
Quoting Turveyd
Too choppy for me to, need direction was lacking earlier.

Slightly Negative here, if I ignore a Oil trade my first lot sizes are 10x's expected instant OUCH and DOH!!



After a string of losses, take a break get some perspective.

The good thing is that I place SL.
I also didnt want to move the SL to BreakEven or even lower because currently (this week) I just want to focus on placing SL.
Failure is a feedback. Learn from it.
  • #58
  • Jun 13, 2012 10:51am Jun 13, 2012 10:51am
Yep 1 step at a time.

Your -23 is that for all 3 positions in total or first position ?
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59
  • Jun 13, 2012 11:01am Jun 13, 2012 11:01am
Quoting Turveyd
Yep 1 step at a time.

Your -23 is that for all 3 positions in total or first position ?

-23 pips is from my first position (the largest loss of all position in the trade)
Failure is a feedback. Learn from it.
  • #60
  • Jun 13, 2012 11:30am Jun 13, 2012 11:30am
Quoting tomomi72003
-23 pips is from my first position (the largest loss of all position in the trade)

Okay if so and you plan to continue entering that way with 3 positions, SL 23 then they are too tightly bunched.

Yes you might not always get all 3 positions in, but when you do, your average will be better to get out on, if you need an emergency BE!!

Aim for say -6 then -12 for your other entrys, I'd say set orders but I'm shying away from that, cause sometimes it's obvious it's going for the SL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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