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  • #3,781
  • May 24, 2017 10:09am May 24, 2017 10:09am
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EU yet again short this time +5
  • #3,782
  • May 24, 2017 10:24am May 24, 2017 10:24am
Quoting lemercenaire
{quote} You got caught out by a Dead-Cat-Bounce. Be cautious of these moves that happen around halfway between the High and Low of the previous major move.
I didn't take this trade, but I'm curious if it warranted caution? Kinda in the middle.
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Wow! I've got some experience to gain.
  • #3,783
  • May 24, 2017 10:25am May 24, 2017 10:25am
Did everybody jump on board for the return trip?

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  • #3,784
  • May 24, 2017 10:28am May 24, 2017 10:28am
Quoting Lawnman
{quote} I didn't take this trade, but I'm curious if it warranted caution? Kinda in the middle. {image}
Looks like it was at a good potential turning point if you look left and backed up by the price-action on the couple of long-wicked candles on the left as well.

Sometimes you're the statue, sometimes you're the pigeon, lol.
  • #3,785
  • May 24, 2017 10:29am May 24, 2017 10:29am
Quoting lemercenaire
Did everybody jump on board for the return trip? {image}
No. Hesitation/fear keep holding me back!
Wow! I've got some experience to gain.
  • #3,786
  • May 24, 2017 10:55am May 24, 2017 10:55am
Quoting hal7
{quote} Because it's hard to get into multiple trades at anytime and I usually just pick one, my best "guess" sometimes two or if it develops later in the hour. Not sure why you can't see the direction. It had made a new low broke the open briskly heading in the long direction, that is north. It got about +16 that hour. In reality if you look at the EJ had been pretty rangy this day and that is good news usually for this method.

Understandable, i guess i should really not get into those that make a new high and new low on the same bar especially if price is closing in range
  • #3,787
  • May 24, 2017 10:56am May 24, 2017 10:56am
Quoting hal7
{image} I thought I would throw this screen up for those who like to see losses. I had quite a sparring match with the GU this morning. I trade 1-2-3 on a couple of different platforms at times. In this case I took the GU short right out of the box this morning but I was a bit late and though it did get +5 from breaking that open for me it was a loss, because that is all it got. Then I decided to kind of revenge trade which is always a bad idea. I went short again. It took out my stop. And then to add insult to injury came down through the open...

Thanks for illustrating this alot
  • #3,788
  • May 24, 2017 10:56am May 24, 2017 10:56am
Quoting hal7
{image} I thought I would throw this screen up for those who like to see losses. I had quite a sparring match with the GU this morning. I trade 1-2-3 on a couple of different platforms at times. In this case I took the GU short right out of the box this morning but I was a bit late and though it did get +5 from breaking that open for me it was a loss, because that is all it got. Then I decided to kind of revenge trade which is always a bad idea. I went short again. It took out my stop. And then to add insult to injury came down through the open...

What did you mean about a "couple different platforms"?
  • #3,789
  • May 24, 2017 10:58am May 24, 2017 10:58am
Quoting hal7
{image} I thought I would throw this screen up for those who like to see losses. I had quite a sparring match with the GU this morning. I trade 1-2-3 on a couple of different platforms at times. In this case I took the GU short right out of the box this morning but I was a bit late and though it did get +5 from breaking that open for me it was a loss, because that is all it got. Then I decided to kind of revenge trade which is always a bad idea. I went short again. It took out my stop. And then to add insult to injury came down through the open...

Seems as if you kept your stops very tight, even less than 10 pips? where was it placed? at the HIGH only?
  • #3,790
  • May 24, 2017 11:13am May 24, 2017 11:13am
Quoting Lawnman
{quote} I didn't take this trade, but I'm curious if it warranted caution? Kinda in the middle. {image}


Looked gorgeous to me!
  • #3,791
  • May 24, 2017 11:14am May 24, 2017 11:14am
Quoting faatkumo
{quote} Seems as if you kept your stops very tight, even less than 10 pips? where was it placed? at the HIGH only?
I too am curious about stop placement.
Wow! I've got some experience to gain.
  • #3,792
  • May 24, 2017 12:39pm May 24, 2017 12:39pm
I put my stops 3 pips above the hi or lo. Not fanatical about the size of the stops by the smaller the better usually because lost pips are hard to make up. After reaching my +5 goal sometimes I take off 80% sometimes 90%. Is that optimal, no idea, you have to figure out what works best for yourself. Sometimes I will move my stop to BE, most of the time I don't move it at all. Then if a trade gets going I will switch to 10 trailer, then maybe a 20 trailer and the real movers will get 60. Usually when I move my stops they get hit, so I am slow in doing that, not Too Slow, but slow. Stop management does beat the big losses however.
  • #3,793
  • May 24, 2017 12:44pm May 24, 2017 12:44pm
Quoting hal7
I put my stops 3 pips above the hi or lo. Not fanatical about the size of the stops by the smaller the better usually because lost pips are hard to make up. After reaching my +5 goal sometimes I take off 80% sometimes 90%. Is that optimal, no idea, you have to figure out what works best for yourself. Sometimes I will move my stop to BE, most of the time I don't move it at all. Then if a trade gets going I will switch to 10 trailer, then maybe a 20 trailer and the real movers will get 60. Usually when I move my stops they get hit, so I am slow in...
Makes sense, 3 pip stop.
Because as you said pips are hard to make up, very true because i'll keep an SL 10-15pip and its so hard to make up for the losses, thats why i've been frustrated with 1 loss wiping out 3 wins.
  • #3,794
  • May 24, 2017 12:58pm May 24, 2017 12:58pm
Quoting faatkumo
{quote} Makes sense, 3 pip stop. Because as you said pips are hard to make up, very true because i'll keep an SL 10-15pip and its so hard to make up for the losses, thats why i've been frustrated with 1 loss wiping out 3 wins.
Not 3-pip stop. 3 pips above/below high/low.
  • #3,795
  • May 24, 2017 1:20pm May 24, 2017 1:20pm
Quoting lemercenaire
{quote} Not 3-pip stop. 3 pips above/below high/low.
My mistake, yes 3 pips above/below high/low
  • #3,796
  • May 24, 2017 1:21pm May 24, 2017 1:21pm
Quoting lemercenaire
{quote} Not 3-pip stop. 3 pips above/below high/low.
I think the hardest part is getting up in the morning.
people are going to start calling me crows feet.
  • #3,797
  • May 24, 2017 4:40pm May 24, 2017 4:40pm
Quoting faatkumo
{quote} I think the hardest part is getting up in the morning. people are going to start calling me crows feet.
You'll have enough in the bank to get bottoxed to the max!
  • #3,798
  • May 24, 2017 5:12pm May 24, 2017 5:12pm
Quoting lemercenaire
{quote} You'll have enough in the bank to get bottoxed to the max!

Lol!
  • #3,799
  • May 25, 2017 2:47am May 25, 2017 2:47am
Gm Guys
  • #3,800
  • May 25, 2017 2:50am May 25, 2017 2:50am
Have a good day, guys.

Bear in mind there are OPEC meetings all day as well as USD red on top. Careful!
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