Fail Better | Page 264 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

A better Editor for mql is available. 100x better than MetaEditor 20 replies

Broker needs to do better, much better 4 replies

Better momentum and better Sine wave indicator 0 replies

Mathematical reasons why MOST DayTraders & scalpers fail? 197 replies

Is Better still better? 1 reply

Attachments: Fail Better
Exit Attachments

Fail Better

  • #5,261
  • Apr 8, 2013 7:33am Apr 8, 2013 7:33am
Swiss Market Index (SMI)
Attached Image (click to enlarge)
Click to Enlarge Name: smi.png Size: 27 KB
  • #5,262
  • Apr 8, 2013 2:59pm Apr 8, 2013 2:59pm
A little something I am watching on a cross.
6 or so touches and a big move away.
If it hits the level in the next few hours it will be about 50% past it's Daily ATR (106)
Not working with a daily bias, looking for a good Take Profit. Maybe about 4678 which is the last bit of support back on March 1.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyspf40813.gif Size: 23 KB
  • #5,263
  • Apr 8, 2013 5:36pm Apr 8, 2013 5:36pm
Quoting Caesar
A little something I am watching on a cross. 6 or so touches and a big move away. If it hits the level in the next few hours it will be about 50% past it's Daily ATR (106) Not working with a daily bias, looking for a good Take Profit. Maybe about 4678 which is the last bit of support back on March 1. {image}
Looking at this one, too. But it's overnight sessions, so on the sidelines for now.
Cable looks like a good long, too.
  • #5,264
  • Apr 8, 2013 5:43pm Apr 8, 2013 5:43pm
Hmmm.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_09 Apr. 08 23.41.gif Size: 69 KB
  • #5,265
  • Apr 9, 2013 11:20am Apr 9, 2013 11:20am
This is the GBPUSD daily chart.Is this a good retest setup for a short?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.png Size: 31 KB
  • #5,266
  • Apr 9, 2013 5:27pm Apr 9, 2013 5:27pm
Quoting 4FXsake
Hmmm. {image}
Hey,
How do you enter this trade? Pin bar is small. Is this a TT?
  • #5,267
  • Apr 10, 2013 2:28am Apr 10, 2013 2:28am
Quoting Mayube
Hey, How do you enter this trade? Pin bar is small. Is this a TT?
This is a 3 touch level w/ Divergence. We went over this level in the webinar and Tom drew it at 1.5240. A perfect TT
  • #5,268
  • Apr 10, 2013 3:19am Apr 10, 2013 3:19am
Quoting 4FXsake
Hmmm. {image}
I caught this one It was a hard trade as you should hold it through the night, but worked out.
The SMI i posted worked out well, as well
I got +1R on both.
  • #5,269
  • Apr 10, 2013 4:48am Apr 10, 2013 4:48am
Hi guys, is this level totally invalidated due to the touch shortly after the breakout (arrow)? This is four hour chart as I dont have time to watch one hour.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.png Size: 23 KB
  • #5,270
  • Apr 10, 2013 4:59am Apr 10, 2013 4:59am
Also, any suggestions why this one didn't work out, or is it just a chalk it up and move on trade?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.png Size: 24 KB
  • #5,271
  • Apr 10, 2013 5:23am Apr 10, 2013 5:23am
Quoting andyhardwick
Also, any suggestions why this one didn't work out, or is it just a chalk it up and move on trade? {image}
The first thing that Tom would say is "don't trade crosses"

Other than that, there is nothing wrong with the level. The cross pair just didn't work out.
  • #5,272
  • Apr 10, 2013 5:27am Apr 10, 2013 5:27am
"One becomes a beginner after one thousand days of training & an expert after ten thousand days of practice." Mas Oyama
  • #5,273
  • Apr 10, 2013 6:47am Apr 10, 2013 6:47am
Quoting bullishbias
"One becomes a beginner after one thousand days of training & an expert after ten thousand days of practice." Mas Oyama
Great quote... seems I am in a similar boat..... much training ahead.

I had marked levels for HCR on a daily and saw the rounded retest setup on the daily for bias. Took the trade off the 1H SFP and was stopped out below the BRN where I thought the logical stop should be placed. Any thoughts or help would be appreciated?

Thanks.
Joe

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfdaily 4 10 13 a.png Size: 26 KB


Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh1 4 10 13 b.png Size: 26 KB
  • #5,274
  • Apr 10, 2013 7:03am Apr 10, 2013 7:03am
Quoting 4FXsake
Hmmm. {image}
GBPUSD

Took majority of position of the table already. At BE now and letting the rest ride. The weekly chart is at a major weekly LCS, so im not sure about how much further this will go up anyway, as you all know.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd10apr2013h4.gif Size: 15 KB


Rolo
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #5,275
  • Apr 10, 2013 12:02pm Apr 10, 2013 12:02pm
Quoting andyhardwick
Also, any suggestions why this one didn't work out, or is it just a chalk it up and move on trade? {image}
Crazy cross as noted above. But depending on where you took your entry you could have made 25-30 pips or so or gotten out with a scratch before the big move down. Upset at myself for taking a loss on this but, it got me too. Lesson learned.
  • #5,276
  • Apr 10, 2013 3:03pm Apr 10, 2013 3:03pm
Quoting andyhardwick
Also, any suggestions why this one didn't work out, or is it just a chalk it up and move on trade? {image}
Nothing wrong to me. Yes, it's a cross. Tom does not trade crosses, but it's up to your own research whether to take crosses.

I didn't play it personally, cause i was in audchf at the time, which was also a loser.
  • #5,277
  • Apr 10, 2013 4:35pm Apr 10, 2013 4:35pm
SP500
Attached Image (click to enlarge)
Click to Enlarge Name: sp500.png Size: 33 KB
  • #5,278
  • Apr 10, 2013 5:30pm Apr 10, 2013 5:30pm
Thanks for the comments on the failed trade. Could someone please help me out on this one? Is this still a valid level or has it now been weakened but the quick retest following the breakout (which I see happen a lot of the time)

Quoting andyhardwick
Hi guys, is this level totally invalidated due to the touch shortly after the breakout (arrow)? This is four hour chart as I dont have time to watch one hour. {image}
  • #5,279
  • Apr 11, 2013 12:57am Apr 11, 2013 12:57am
Quoting andyhardwick
Thanks for the comments on the failed trade. Could someone please help me out on this one? Is this still a valid level or has it now been weakened but the quick retest following the breakout (which I see happen a lot of the time)
There are several ways to look at it. For the most part, we don't like levels after an immediate retest. HOWEVER, If we have the opportunity to sell JPY at that level in the near future, I am all over it. This is all based on fundamentals of course.
  • #5,280
  • Apr 14, 2013 8:05pm Apr 14, 2013 8:05pm
Missed this by not being around at 5 am.
Perhaps, I can get an H1 entry on the pullback.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 556 KB
Click to Enlarge Name: 2.gif Size: 46 KB
5 traders viewing now