Live Trading and General Chat Lounge

This is a discussion on Live Trading and General Chat Lounge within the Discretionary Trading forums, part of the Methods category; Originally Posted by ChocolateDigestive What on earth made you enter a trade right after data with a 12 pip stop. ...

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Old Mar 14, 2012, 1:02am   #4194
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Re: Live Trading and General Chat Lounge

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Originally Posted by ChocolateDigestive View Post
What on earth made you enter a trade right after data with a 12 pip stop. It was a suicide mission imo. but then again I could be talking bo77ox. This is when the big guys throw little guys around like a rag doll.
Hasn't been my best day for sure. Price moved down, then went back up over the last price before the data so I entered a long thinking it was a spike down and reversal.

TBH, my problem is I'm trying to trade news events the same way I always have but we just don't get the movement anymore. I really need to adapt or give up the news trading.

Peter
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Old Mar 14, 2012, 1:23am   #4195
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Re: Live Trading and General Chat Lounge

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Hasn't been my best day for sure. Price moved down, then went back up over the last price before the data so I entered a long thinking it was a spike down and reversal.

TBH, my problem is I'm trying to trade news events the same way I always have but we just don't get the movement anymore. I really need to adapt or give up the news trading.

Peter
News trading doesn't work too well nowadays Peter....good zew this morning euro down.....cds triggered euro up.... Seems at the moment whatever you think should be correct do the oppo****e...
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Old Mar 14, 2012, 1:31am   #4196
 
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Re: Live Trading and General Chat Lounge

I book my winner here for +13.

Why did I take the trade?
What made price go lower?

I don't have the faintest idea, I can honestly say I don't know. The trade was based purely on my intuition and 1000+ hours screen time. I avoid news/data.

Is it wrong to trade like this? I don't know. After so much screen time I get a feeling about where price is going, a kind of 'spidey sense' before it moves. this time next year rodders.

all very strange goings on.
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Old Mar 14, 2012, 1:39am   #4197
 
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Re: Live Trading and General Chat Lounge

I should explain that the 'spidey sense' doesn't always function the key is to wait until the 'spidey sense' is at it's greatest where you feel price cannot go anywhere else. My problem is staying out when the 'spidey sense' isn't fully active that's when the evil gambler comes out to play. I watch 4 charts, Daily, Hourly, 5m, 1m. mostly trade off the 5m. Candles only nothing else. It's not about what you win it's def about what you don't lose. Keith Richards once said it's not what you play it's what you don't play but I believe he was paralytic at the time. lol.
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Old Mar 14, 2012, 1:45am   #4198
 
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you see where price is now. I have absolutely no clue as to where it is going next. Might as well flip a coin for all i know. 'Spidey sense' is not active. best to stand aside.
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Old Mar 14, 2012, 1:53am   #4199
 
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Re: Live Trading and General Chat Lounge

switch to 19's as treble 20's are covered onto the AUDUSD.

spidey sense says this is going south.
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Old Mar 14, 2012, 2:20am   #4200
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I'm out. Long day. Catch everyone tomorrow!

Peter
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