korgmeister
Newbie
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what happened to this gambler?
korgmeister
Newbie
- Messages
- 8
- Likes
- 0
still very much alive and kicking :cheesy:
dont call me gambler, i hav a specific predefined plan
so you still want to update here or not?
i have decided not to post my equity chart, that is not of any help to anybody i think. instead lets talk about trading, i.e strategy, pshycology that kind of thing.
so from now on i will post my trade chart together with some reasoning...if i have the time, okay?
btw, i am breakout trader. i trade brakeout from anything, by that i means hilo, SnR lines, consolidation range, trendlines and patterns. that doesnt mean i dont do pullbacks, quite often i do it too.
in the higher timeframe, i do candle pattern. i look for shooting star, hammer, bearish engulfing, bullish engulfing, evening star and morning star.
i dont do EW, simply cos' waves confuse me.
but harmonic patterns especially gartley is interesting, so does wolfe waves.
i guess this will open the pandora box of interest.
*not forgetting the inside bar
in the higher timeframe, i do candle pattern. i look for shooting star, hammer, bearish engulfing, bullish engulfing, evening star and morning star.
i dont do EW, simply cos' waves confuse me.
but harmonic patterns especially gartley is interesting, so does wolfe waves.
i guess this will open the pandora box of interest.
*not forgetting the inside bar
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after getting my first 10 pips of the day, i took a hard look at the chart again. i reckoned that if price breaks the prev high it should have the momentum to give me another 10 pips. so i put a pending order to buy with 10 pips target. so it was a right decision and i got my second 10 pips of the day.
ok...time to take some rest..be back in about an hour from now
ok...time to take some rest..be back in about an hour from now
Just learning charting the lower line does this indicate a sell ?
I got it short at 1.4723 but on Bloomberg Dollar is seen to be weak fot the next six months. On my chart it tells me that a fall is due st 1.4720-1.4730 but whats your view ? :smart:
Hi JD
You asking about the lines? the lower red line is the take profit, the green line immediately after it, is my sell line at market price. the next green line is my sell limit order. and the top red line is the stoplosses line.
when i play bigger time frame, i.e 4 hrs and above i structured my trade in such a way that if it went bad, i only lost 2% of the account.
of course, i am of the view that EU appears toppish. BUT, i dont really care. the PREDEFINED PLAN has been put into place. i can even afford not to look at this trade in one week. while this thing is playing out, i can always do my 10 pips trade ..lol
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Hi JD
You asking about the lines? the lower red line is the take profit, the green line immediately after it, is my sell line at market price. the next green line is my sell limit order. and the top red line is the stoplosses line.
when i play bigger time frame, i.e 4 hrs and above i structured my trade in such a way that if it went bad, i only lost 2% of the account.
of course, i am of the view that EU appears toppish. BUT, i dont really care. the PREDEFINED PLAN has been put into place. i can even afford not to look at this trade in one week. while this thing is playing out, i can always do my 10 pips trade ..lol
EUR/USD
Just took a profit of £15 at 1.4730
Bloomberg reporting that Euro strenght against the dollar is a year trend to push to 1.5160, they report this is a year long trend to come ?
Just closed my short for a LONG at 1.4729 if Bloomberg get it right +£431 to come over the year.
Stop 1.4690 to give it some breathing space.