Cut your Losers short and let your Winners run.
- #1,443
- Jun 10, 2014 9:56am Jun 10, 2014 9:56am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
EU yesterday +30 +58. PA entry Triple top +Div @major S&R. Today +30 +37. 4Hr 123 + TL Break +Div @BRN & S&R. 2nd TP not hit today, I closed manually as price stalled for 3 hours. Sods Law says "It will Continue and go to your TP"
Cut your Losers short and let your Winners run.
- #1,444
- Jun 10, 2014 9:58am Jun 10, 2014 9:58am
{quote} Neither. I use this a lot. TTE, Traders Trick Entry. {image}
EU yesterday +30 +58. PA entry Triple top +Div @major S&R. Today +30 +37. 4Hr 123 + TL Break +Div @BRN & S&R. 2nd TP not hit today, I closed manually as price stalled for 3 hours. Sods Law says "It will Continue and go to your TP"
NICE, love the triple top with div. and the continuation today.
Both setups occured at the same time 1hr after LO.
now a hidden bullish div. starting to form on h1 and also on h4.
I checked the website you posted , yeh all TMS trades.
If you're going through hell, keep going. Winston Churchill
- #1,448
- Jun 10, 2014 3:28pm Jun 10, 2014 3:28pm
EU yesterday +30 +58. PA entry Triple top +Div @major S&R. Today +30 +37. 4Hr 123 + TL Break +Div @BRN & S&R. 2nd TP not hit today, I closed manually as price stalled for 3 hours. Sods Law says "It will Continue and go to your TP"
,Although your settings for stochastic are the same as mine my chart doesn't show divergence like yours for the last trade, is it something related to broker datafeed ?
- #1,449
- Jun 11, 2014 5:07am Jun 11, 2014 5:07am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Dee, thanks for all of your insight, you are a great teacher. Took this trade today, BPC off a strong s/r level, I probably should have held onto it longer but I was happy with 15 pips {image}
Cut your Losers short and let your Winners run.
- #1,450
- Jun 11, 2014 5:10am Jun 11, 2014 5:10am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
{quote} Nice work Dee
Cut your Losers short and let your Winners run.
- #1,453
- Jun 12, 2014 3:48am Jun 12, 2014 3:48am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Hi Dee, Just to let you know that YOU have been a GREAT teacher to learn from. I have taken 1 trade yesterday on GJPY and I made 23pips. I have taken 2 trades today and won on both of them: GCHF x 20pips and on EGPB x 10pips. At this stage I only use the MAs and the TDI to time and take the trades. However, I would like to use your Indi the 123RH so that I can learn how to see the 123patterns when they are formed. I have downloaded the indi and it works. I would like to know if I should use it with your default settings as i am trading the 4H and...
Congrats on your Pips.
Important lesson. Leave the euphoria of the win behind, before you take your next trade, get up go for a walk, any thing to get rid of the winning drug before you look for your next trade. The come down of a loss can be worse than on heroin,
celebrate like crazy when you win
but always enter trades without emotion.
Cut your Losers short and let your Winners run.
- #1,454
- Jun 12, 2014 4:15am Jun 12, 2014 4:15am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
- #1,456
- Jun 12, 2014 9:36am Jun 12, 2014 9:36am
{quote} The attached shows the relevant settings. The attached PDF explains the settings. Congrats on your Pips.
Thank you for your kind words of wisdom as well.
I took a trade this morning on ENZD and got out with 63 pips.
I hope this is not just a case of beginners luck but i do look at the charts very carefully before placing trades and i also try and read what PA is telling me at the time.All thanks to you my kind Sir.
Take care.
- #1,457
- Jun 12, 2014 9:47am Jun 12, 2014 9:47am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Some thing for the weekend, sir.? Where to take Profits? it takes time and practice to see where price is likely to go and until you have the experience there is a way to "guess" more accurately, both methods shown on the chart have also been illustrated in the 123 Trading PDFs that are available. Price has a tendency to create patterns and because of this we can project where price is "likely" to go,
The Measured Move.
We are using the 123 pattern so we use the formula that CD is likely to be equal to AB. AB is the 1 to 2 leg, CD is the 3 to D leg.
There are 2 methods that can be used,
The Fib Expansion Tool, this is the true CD=AB because the price expansion is measured from point 3 (C).
The Normal Fib Extension Tool, this is not the true CD=AB because the price expansion is measured from point 2 (B).
(before you ask, I have used both methods and have no particular favourite, I use the "200" method most, but I could not tell you why).
When using either of these methods look for confluence, this will help you asses the viability of the move.
Use the Measured Move to determine if a trade is actually worth taking, is the Risk to Reward worth the aggravation.
When and if you do a search for more information on The Measured Move, do not be confused by the ABCD Pattern, this is an entirely different trading pattern.
This chart shows the Fib settings.
The Measured Move.
We are using the 123 pattern so we use the formula that CD is likely to be equal to AB. AB is the 1 to 2 leg, CD is the 3 to D leg.
There are 2 methods that can be used,
The Fib Expansion Tool, this is the true CD=AB because the price expansion is measured from point 3 (C).
The Normal Fib Extension Tool, this is not the true CD=AB because the price expansion is measured from point 2 (B).
(before you ask, I have used both methods and have no particular favourite, I use the "200" method most, but I could not tell you why).
When using either of these methods look for confluence, this will help you asses the viability of the move.
Use the Measured Move to determine if a trade is actually worth taking, is the Risk to Reward worth the aggravation.
When and if you do a search for more information on The Measured Move, do not be confused by the ABCD Pattern, this is an entirely different trading pattern.
This chart shows the Fib settings.
Cut your Losers short and let your Winners run.
- #1,458
- Jun 12, 2014 10:06am Jun 12, 2014 10:06am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
{quote} Thank you Dee for giving me your settings to the 123RH for the higher TF. This will make it a little easier for me to find trades on the 123 system you teaching. Thank you for your kind words of wisdom as well. I took a trade this morning on ENZD and got out with 63 pips.
If that is beginners luck, I want to be a Beginner!!(said in a Petulant tone)
Cut your Losers short and let your Winners run.
- #1,459
- Jun 12, 2014 10:30am Jun 12, 2014 10:30am
I have an excellent teacher who shares his charts unselfishly what more can i say...
and those willing to take time out to study his charts will see what we otherwise cannot see.
Thank you for the 2 new charts posted and the Fib extensions. Will try and learn how to use them and incorporate it in my trading.
Thank you Dee for everything.
what more can i say...and those willing to take time out to study his charts will see what we otherwise cannot see.
Thank you for the 2 new charts posted and the Fib extensions. Will try and learn how to use them and incorporate it in my trading.
Thank you Dee for everything.
