{quote} I'm going to nap.
- #2,182
- Dec 17, 2014 10:15am Dec 17, 2014 10:15am
- | Commercial User | Joined Aug 2014 | 1,024 Posts
While knowledge speak up, the wisdom listen down
- #2,183
- Dec 17, 2014 10:16am Dec 17, 2014 10:16am
OK, so I've made here a huge mistake.
I've turned a 35 pips winner into a 80 something loser.
It was already a 5th wave and I was too greedy, because TP line was so close, and I should have closed it on bullish pin. Then, I shouldn't have moved my SL up. So mistake after mistake..
Any comments and advice will be appreciated
I would like to learn something from those mistakes...
I've turned a 35 pips winner into a 80 something loser.
It was already a 5th wave and I was too greedy, because TP line was so close, and I should have closed it on bullish pin. Then, I shouldn't have moved my SL up. So mistake after mistake..
Any comments and advice will be appreciated
I would like to learn something from those mistakes...
- #2,184
- Dec 17, 2014 10:29am Dec 17, 2014 10:29am
- | Commercial User | Joined Aug 2014 | 1,024 Posts
OK, so I've made here a huge mistake. I've turned a 35 pips winner into a 80 something loser. It was already a 5th wave and I was too greedy, because TP line was so close, and I should have closed it on bullish pin. Then, I shouldn't have moved my SL up. So mistake after mistake.. Any comments and advice will be appreciated
For wave comment...Patron is the best...so wait for his time to answers...
My comment...its rejected @ 3/4 numbers around 116.70-80 level see the past S/R level.....very clear rejected on M15 candle close....and DSS + PA + channel (see my draw of channel)... i hope its help...and may be your mind was locked of short bias...and its lock your finger to close loss or hedge or take action immediately)...will add the sharing again later...
While knowledge speak up, the wisdom listen down
- #2,185
- Dec 17, 2014 10:52am Dec 17, 2014 10:52am
- | Joined May 2014 | Status: Trader | 2,733 Posts
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- #2,187
- Dec 17, 2014 11:19am Dec 17, 2014 11:19am
- | Commercial User | Joined Aug 2014 | 1,024 Posts
While knowledge speak up, the wisdom listen down
- #2,188
- Dec 17, 2014 11:26am Dec 17, 2014 11:26am
- | Commercial User | Joined Aug 2014 | 1,024 Posts
While knowledge speak up, the wisdom listen down
- #2,189
- Dec 17, 2014 11:50am Dec 17, 2014 11:50am
- | Joined May 2014 | Status: Trader | 2,733 Posts
OK, so I've made here a huge mistake. I've turned a 35 pips winner into a 80 something loser. It was already a 5th wave and I was too greedy, because TP line was so close, and I should have closed it on bullish pin. Then, I shouldn't have moved my SL up. So mistake after mistake.. Any comments and advice will be appreciated
Has formed a triangle, for now, would represent a complex waveform '2' or 'B', in their grade.
The error, which is very easy to fall. I think it is one of the most repeated traps the market. It is the false breakout.
Was accompanied by volume, but in a large volume candle terminal, a fifth terminal belonging wave, which, in turn, stop means volume, which means that close positions.
I never believe in a break with terminal waves. Unless move to a higher degree, which, after the break, we should expect a retracement, and later come with the price action.
After the false breakout, candles have drawn a reversal, which after a terminal wave is very significant.
Besides moving averages were still bullish. The small crossroads 34-89, had less strength than the position of the 89 and 233.
Then we usually were locked and do not react quickly, simply want to be right, but much to tell his majesty
I believe, as Sam30, the market is always right, and would have been nice to give it at that time, closing kickstand, and entering at least long, DSS then and end up gaining even with the error. That is, GIVING THE REASON THE MARKET. Because then came a DSS, and did not take it.
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- #2,190
- Dec 17, 2014 11:52am Dec 17, 2014 11:52am
- | Joined May 2014 | Status: Trader | 2,733 Posts
For Someone who " invisible" and disagree with my statement..... THE MARKET IS ALWAYS RIGHT > RIGHT OR WRONG ITS MY WAY > GOT IT !!
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- #2,191
- Dec 17, 2014 11:58am Dec 17, 2014 11:58am
- | Joined May 2014 | Status: Trader | 2,733 Posts
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- #2,192
- Dec 17, 2014 12:04pm Dec 17, 2014 12:04pm
{quote} I do not know if my English is well understood costly. I will answer any questions that I know, until everything is clear.
There where few things that I didn't noticed, should have been more focused.
Still, I'm learning and I'm trying to learn my lesson every time.
- #2,193
- Dec 17, 2014 12:04pm Dec 17, 2014 12:04pm
- | Joined May 2014 | Status: Trader | 2,733 Posts
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- #2,194
- Dec 17, 2014 12:13pm Dec 17, 2014 12:13pm
- | Joined May 2014 | Status: Trader | 2,733 Posts
{quote} It's clear enough. Thank you for help
But I've been curious, seeing the false breakout, and I have placed in the chart. In this case, you would have effectively avoided taking the trade.
How about Sam30, we put it to the test? Not necessary that the tool is always on the chart. Its use may be discretionary.
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- #2,195
- Dec 17, 2014 12:21pm Dec 17, 2014 12:21pm
- | Joined May 2014 | Status: Trader | 2,733 Posts
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- #2,196
- Dec 17, 2014 12:29pm Dec 17, 2014 12:29pm
- | Commercial User | Joined Aug 2014 | 1,024 Posts
{quote} Sorry to hear that...What i see you have entry based DSS (short) For wave comment...Patron is the best...so wait for his time to answers... My comment...its rejected @ 3/4 numbers around 116.70-80 level see the past S/R level.....very clear rejected on M15 candle close....and DSS + PA + channel (see my draw of channel)... i hope its help...and may be your mind was locked of short bias...and its lock your finger to close loss or hedge or take action immediately)...will add the sharing again later...
What we all can learn from jstmzplsz case...Hold DSS short after profit and not close it then move opposite. I am have a lot experiences with that situation
first, as stated in first page ...its potential loss for false break (as transition of the cross EMA's)
second, have been well explained by Patron on wave analysis and view...
Lock of mind and lock of finger to act (to react and close wrong position) is because we are not accept the $$ amount /numbers of losses.....we trap with the way of thinking "its SHOULD BE this BASED on THAT assumption.....".When we react quickly and take opposite direction we will cover the losses....
Note: every case have special condition and treatment...so this learning is for database purpose only...not to apply for every case.
Thanks
While knowledge speak up, the wisdom listen down
- #2,197
- Dec 17, 2014 12:33pm Dec 17, 2014 12:33pm
{quote} If you want we can test a tool that I left, and he used to exit short scalping trades. The other day reminded me someone, I forget who, he asked me if I used harmonic. I replied that no longer used to have the chart clearer, and because after all, were only Fibonacci ratios. But I've been curious, seeing the false breakout, and I have placed in the chart. In this case, you would have effectively avoided taking the trade. How about Sam30, we put it to the test? Not necessary that the tool is always on the chart. Its use may be discretionary....
That was I who asked you about harmonics
Of course we can test, but I probably need few hours to see how it is functioning.
- #2,198
- Dec 17, 2014 12:36pm Dec 17, 2014 12:36pm
- | Commercial User | Joined Aug 2014 | 1,024 Posts
{quote} If you want we can test a tool that I left, and he used to exit short scalping trades. The other day reminded me someone, I forget who, he asked me if I used harmonic. I replied that no longer used to have the chart clearer, and because after all, were only Fibonacci ratios. But I've been curious, seeing the false breakout, and I have placed in the chart. In this case, you would have effectively avoided taking the trade. How about Sam30, we put it to the test? Not necessary that the tool is always on the chart. Its use may be discretionary....
i think its valuable input to support the system....will be just like the wave analysis...and its better if we labeling it so all readers could understand what base and tools we use.
tq
While knowledge speak up, the wisdom listen down
- #2,199
- Edited 12:51pm Dec 17, 2014 12:40pm | Edited 12:51pm
- | Joined May 2014 | Status: Trader | 2,733 Posts
{quote} That was I who asked you about harmonics
For me, they are Fibonacci relationships that draw final wave patterns in a given grade. Perhaps also draw patterns reverse. I am not a specialist. I use the tool intuitively. There are, out there a lot of literature on this subject. And as knowledge does not take place ....
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