trying to make everyday the best risk/reward decisions possible
Billytt Die happy trading e/j daily breakout
- #17,062
- Apr 25, 2017 6:54am Apr 25, 2017 6:54am
FB played hard-to-get this morning and it took a counter-of-a-counter-of-a-counter kind of deal to get me out ahead. Basically got flat on the first couple and re-set to go in on a second go-around. Previously - before I had maybe full confidence in the method and its techniques, I would likely have called it quits after getting back to as close to flat as I could. {image}
Any sort of feedback is appreciated.Today's trading results:
- EURGBP FB +9.3 pips (Might be easier to just look at the screenshot LOL)
FB low broke. Entered a sell. Price went up. Countered at FB middle. Price went up and reached the FB high, so I closed the sell and entered another buy, targeting 5 pips above FB high. Price went back down to FB low, so I entered 2 sell positions to keep the 2 buys in limbo. If I ever had to counter twice, I was planning on keeping the second counter in limbo, but I broke my plan. It was my first time countering twice today and I didn't handle my emotions well. I didn't want to keep it in limbo, so I closed the 2 buys and entered two more sells. Price went back up. I wanted to punch EURGBP so hard. I looked at the H1 chart and kept an eye on the price. Price couldn't close above 0.85027 on H1, so I held on to the shorts. Price eventually went down. Closed the trades in some profit.
Today's trade was a real disaster. Total failure. I was lucky. I'm not sure how I should deal with situations where I need to counter a counter. I'm pretty amazed at how Lem got out flat.
I'm really hating myself today. I'm going to go get some rest. Again, any feedback is very much appreciated.
EURGBP M5. Green zone is FB zone.
EURGBP H1. Red line is 0.85027.
- #17,063
- Apr 25, 2017 6:56am Apr 25, 2017 6:56am
- Joined Sep 2006 | Status: Trader | 10,702 Posts
every Saint has a past. Every Sinner has a Future
- #17,065
- Apr 25, 2017 8:01am Apr 25, 2017 8:01am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #17,066
- Apr 25, 2017 8:06am Apr 25, 2017 8:06am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #17,067
- Apr 25, 2017 8:08am Apr 25, 2017 8:08am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #17,069
- Apr 25, 2017 8:36am Apr 25, 2017 8:36am
- Joined Sep 2006 | Status: Trader | 10,702 Posts
every Saint has a past. Every Sinner has a Future
- #17,070
- Apr 25, 2017 9:02am Apr 25, 2017 9:02am
- Joined Sep 2006 | Status: Trader | 10,702 Posts
every Saint has a past. Every Sinner has a Future
- #17,071
- Apr 25, 2017 9:04am Apr 25, 2017 9:04am
- Joined Sep 2006 | Status: Trader | 10,702 Posts
I can take a hint ! Gotta go feed her 
every Saint has a past. Every Sinner has a Future
- #17,072
- Apr 25, 2017 9:20am Apr 25, 2017 9:20am
- Joined Feb 2009 | Status: Trader | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
- #17,073
- Apr 25, 2017 9:23am Apr 25, 2017 9:23am
- Joined Oct 2015 | Status: Trader | 18,269 Posts
Well, sometimes you get away with things you really shouldn't have any right getting away with!
Brent-US Crude 05.00 H4 Diff Trade
Started out ok, with a nice straightforward WZ move out of the lower zone. Rode it all the way to the top, moved stop tight and closed out. All fine-and-dandy.
Then, because (and I keep telling myself this, like it somehow justifies it all) I had had such a fight on the Frankenbreak and even over on 1-2-3 it hadn't been all plain sailing, I figured I'd jump back on to the return flight.
Greed...
Like Tuco in The Good, The Bad and The Ugly...yep...
Soon as I got in, price reversed. Fast. No time to even get a counter on - no time to even think about getting a counter on - so now I'm behind the curve and struggling to catch up.
Now the idiot-brain kicks in...''Maybe I leave it for a second to see if it just turns...just a second...''
It doesn't (you knew that, right?). Now I'm in that situation anyone who's ever waited on a bus as a kid has been in. It doesn't come. You wait. You wait some more. Then you decide, ''stuff this, I'll walk to the next stop, at least I'm moving''...''but what happens if the bus comes? I've left it too late to leave now...ach, I'll just wait a bit longer.'' Still doesn't come...''Well I can't leave now, it's bound to come!''
You end up standing there like an idiot-child when you could have been home if you'd just made a decision and walked it.
And that's the point - make a decision. Hanging around on the off chance something might happen is never going to end well.
I hit the counter - pretty much at half-way through the zone - and took it from there.
It always seems to me that as soon as you make a clear, conscious, decision, then things start moving with purpose again.
Also, I even had the luxury of having already bagged the previous profit. All I needed to do was hit the counter and lock it in. It happens.
Time for a breath of fresh air now that's all over.
I'll get to the questions above from you guys as soon as I can, promise.
Brent-US Crude 05.00 H4 Diff Trade
Started out ok, with a nice straightforward WZ move out of the lower zone. Rode it all the way to the top, moved stop tight and closed out. All fine-and-dandy.
Then, because (and I keep telling myself this, like it somehow justifies it all) I had had such a fight on the Frankenbreak and even over on 1-2-3 it hadn't been all plain sailing, I figured I'd jump back on to the return flight.
Greed...
Like Tuco in The Good, The Bad and The Ugly...yep...
Soon as I got in, price reversed. Fast. No time to even get a counter on - no time to even think about getting a counter on - so now I'm behind the curve and struggling to catch up.
Now the idiot-brain kicks in...''Maybe I leave it for a second to see if it just turns...just a second...''
It doesn't (you knew that, right?). Now I'm in that situation anyone who's ever waited on a bus as a kid has been in. It doesn't come. You wait. You wait some more. Then you decide, ''stuff this, I'll walk to the next stop, at least I'm moving''...''but what happens if the bus comes? I've left it too late to leave now...ach, I'll just wait a bit longer.'' Still doesn't come...''Well I can't leave now, it's bound to come!''
You end up standing there like an idiot-child when you could have been home if you'd just made a decision and walked it.
And that's the point - make a decision. Hanging around on the off chance something might happen is never going to end well.
I hit the counter - pretty much at half-way through the zone - and took it from there.
It always seems to me that as soon as you make a clear, conscious, decision, then things start moving with purpose again.
Also, I even had the luxury of having already bagged the previous profit. All I needed to do was hit the counter and lock it in. It happens.
Time for a breath of fresh air now that's all over.
I'll get to the questions above from you guys as soon as I can, promise.
- #17,076
- Apr 25, 2017 10:09am Apr 25, 2017 10:09am
Now the idiot-brain kicks in...''Maybe I leave it for a second to see if it just turns...just a second...'' It doesn't (you knew that, right?). Now I'm in that situation anyone who's ever waited on a bus as a kid has been in. It doesn't come. You wait. You wait some more. Then you decide, ''stuff this, I'll walk to the next stop, at least I'm moving''...''but what happens if the bus comes? I've left it too late to leave now...ach, I'll just wait a bit longer.'' Still doesn't come...''Well I can't leave now, it's bound to come!'' You end up standing...
Exactly what kicked in during my FB trade today lol. I can feel the emotional stress you went through.
- #17,078
- Apr 25, 2017 11:01am Apr 25, 2017 11:01am
- Joined Mar 2012 | Status: Trader | 14,309 Posts
...but I know it now "Less is more" Thanks Billytt
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #17,080
- Apr 25, 2017 6:15pm Apr 25, 2017 6:15pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
News from the Dead Zone front.
A day that kind of got the job done without really getting into any real flow. UC did well on a straight break north for Mr-T and Tom, as did my choice #1, EJ. I traded this as a straight set-and-almost-forget break because I had already been scalping the pair for most of the morning and had a pretty good idea what was going to happen.
As a result, I was able to run two trades at once and my #2 was GU, which was set up with downward pressure. This meant I was looking at a southbound flight and sure enough, that's how it went. Got a tad wobbly in the middle but nothing too scary (especially after the horror show that was The Frankenbreak. Everything was easy after that,
).
Anyway, here they are...
EURJPY
USDCAD
AUDUSD (I would have been keen on this if it hadn't been ANZAC Day)
USDNOK
GBPNZD
A day that kind of got the job done without really getting into any real flow. UC did well on a straight break north for Mr-T and Tom, as did my choice #1, EJ. I traded this as a straight set-and-almost-forget break because I had already been scalping the pair for most of the morning and had a pretty good idea what was going to happen.
As a result, I was able to run two trades at once and my #2 was GU, which was set up with downward pressure. This meant I was looking at a southbound flight and sure enough, that's how it went. Got a tad wobbly in the middle but nothing too scary (especially after the horror show that was The Frankenbreak. Everything was easy after that,
).Anyway, here they are...
EURJPY
USDCAD
AUDUSD (I would have been keen on this if it hadn't been ANZAC Day)
USDNOK
GBPNZD