Best Thread Potential setups

[patw]

Then I don't see what you're talking about...although Cable was tanking, the daily picture still looks good...the pin has been triggered...the left eye has held and price is now rallying...my advice is if you take a daily pin, don't check until the end of the day.

i keep telling myself this over and over t/d

was joking about the $USD by the way :cheesy:

 

[patw]

Dante

possable 4H pin/hammer setting up on the dow??

prob not that good,not at pivot point??

 

[trader_dante]

i keep telling myself this over and over t/d

was joking about the $USD by the way :cheesy:

You shouldn't be looking at ANYTHING if you are long the DAILY but the DAILY and preferably at the end of the day.

Look at Cable DAILY:

Pin tests left eye and then triggers. Then moves up. On that TF, we are comfortable. The trade looks almost picture perfect so far.

Then look at the 5m:

Cable drifts lower this morning...then shoots up later on in the session, consolidates...news hits the wires the BOE has been evacuated from a bomb scare...price tanks...suddenly everything looks well bearish...next thing we go parabolic on the London fixings but the Euro is tanking so that scares us...wtf is going on...is this Dollar strength or Euro weakness? Cable hits a resistance level and comes off 30 pips in 5 minutes...was that the top? Should we get out?....suddenly we're pushing up again...hold on it's a 5m pin...long noses on the last 3 five minutes candles...this could tank now...

You get the drift. What a rollercoaster of emotion.

And for what?

Stops are in. Targets are in (depending on how you trade)

Who cares what happens in between?

 

[advfntrader]

I get the drift. its difficult for me to stop looking at open trades, hopefully it will sink in soon.

You shouldn't be looking at ANYTHING if you are long the DAILY but the DAILY and preferably at the end of the day.

Look at Cable DAILY:

Pin tests left eye and then triggers. Then moves up. On that TF, we are comfortable. The trade looks almost picture perfect so far.

Then look at the 5m:

Cable drifts lower this morning...then shoots up later on in the session, consolidates...news hits the wires the BOE has been evacuated from a bomb scare...price tanks...suddenly everything looks well bearish...next thing we go parabolic on the London fixings but the Euro is tanking so that scares us...wtf is going on...is this Dollar strength or Euro weakness? Cable hits a resistance level and comes off 30 pips in 5 minutes...was that the top? Should we get out?....suddenly we're pushing up again...hold on it's a 5m pin...long noses on the last 3 five minutes candles...this could tank now...

You get the drift. What a rollercoaster of emotion.

And for what?

Stops are in. Targets are in (depending on how you trade)

Who cares what happens in between?

 

[trader_dante]

I get the drift. its difficult for me to stop looking at open trades, hopefully it will sink in soon.

I'm not picking on you mate because I reckon 99.999% of traders do the same thing but ask yourself WHY you do this?

Is it:

a) Becuase you like the excitement of watching the market move?

b) Because you are bored and you don't have anything else to do?

c) Because you are attached to your P&L and want to make money so you need to keep checking to see how much you are making?

d) Because you are attached to your P&L and are afraid to lose money so you need to keep checking to see if you are losing?

 

[Technically Fundamental]

I get the drift. its difficult for me to stop looking at open trades, hopefully it will sink in soon.

Ditto. I'm finding patience is the hardest lesson to learn unless a trade is going perfectly as expected.

 

[trader_dante]

Ditto. I'm finding patience is the hardest lesson to learn unless a trade is going perfectly as expected.

Agreed. It took me about 15 minutes to learn this strategy but over five years to learn the patience required to trade it.

 

[chump]

I'm not picking on you mate because I reckon 99.999% of traders do the same thing but ask yourself WHY you do this?

Is it:

a) Becuase you like the excitement of watching the market move?

b) Because you are bored and you don't have anything else to do?

c) Because you are attached to your P&L and want to make money so you need to keep checking to see how much you are making?

d) Because you are attached to your P&L and are afraid to lose money so you need to keep checking to see if you are losing?

e) because you want to see how the bar was formed

 

[Technically Fundamental]

d

 

[advfntrader]

for me I'm pretty sure its D - afraid to lose money. probably comes from bad experiences in the past and not believing in my own analysis. hence more demo trading required.

I'm not picking on you mate because I reckon 99.999% of traders do the same thing but ask yourself WHY you do this?

Is it:

a) Becuase you like the excitement of watching the market move?

b) Because you are bored and you don't have anything else to do?

c) Because you are attached to your P&L and want to make money so you need to keep checking to see how much you are making?

d) Because you are attached to your P&L and are afraid to lose money so you need to keep checking to see if you are losing?

 

[Bloodhound]

Agreed. It took me about 15 minutes to learn this strategy but over five years to learn the patience required to trade it.

I trade hourly charts and, thanks to your strategy, I now spend more on the coffee and cigarettes consumed in the 59 minutes between each check of the charts than I will ever make from trading.

Thank you!!

 

[tradedays]

All of these are me exactly. I am so glad that someone has actually said it and that pin on the daily tells the whole story. I got stopped out on this earlier on the hourly. Thanks TD, it looks like a b*ll*cking was what alot of us needed too!

I'm not picking on you mate because I reckon 99.999% of traders do the same thing but ask yourself WHY you do this?

Is it:

a) Becuase you like the excitement of watching the market move?

b) Because you are bored and you don't have anything else to do?

c) Because you are attached to your P&L and want to make money so you need to keep checking to see how much you are making?

d) Because you are attached to your P&L and are afraid to lose money so you need to keep checking to see if you are losing?

 

[Bloodhound]

Not sure if anyone here trades the Ibex I thought I'd post this chart as it gave me quite a few points yesterday and we're fast approaching 2 key areas IMO - confluence of fibs at 7895ish and the impenetrable pivot at 8116.
Hope this is of interest?
Rob

 

[Black Swan]

Agreed. It took me about 15 minutes to learn this strategy but over five years to learn the patience required to trade it.

quality.

 

[patw]

You shouldn't be looking at ANYTHING if you are long the DAILY but the DAILY and preferably at the end of the day.

Look at Cable DAILY:

Pin tests left eye and then triggers. Then moves up. On that TF, we are comfortable. The trade looks almost picture perfect so far.

Then look at the 5m:

Cable drifts lower this morning...then shoots up later on in the session, consolidates...news hits the wires the BOE has been evacuated from a bomb scare...price tanks...suddenly everything looks well bearish...next thing we go parabolic on the London fixings but the Euro is tanking so that scares us...wtf is going on...is this Dollar strength or Euro weakness? Cable hits a resistance level and comes off 30 pips in 5 minutes...was that the top? Should we get out?....suddenly we're pushing up again...hold on it's a 5m pin...long noses on the last 3 five minutes candles...this could tank now...

You get the drift. What a rollercoaster of emotion.

And for what?

Stops are in. Targets are in (depending on how you trade)

Who cares what happens in between?

dante

Noise has scared me out of trades that would have been some of my biggest winners in the past
again for us newbies these comments are great advice

thanks
pat

 

[tradedays]

I've just got an entry long on GBPUSD from that daily pin at 143029, (not ideal I know). Haven't glanced at the H1 and it feels just so much better even when its tanking. My stop is at a much safer distance too. OK Strategy number 1746 then - place trades and play more golf - rather than trying to force the market by keep looking at it. That was a very good example TD and a good lesson in a live market.

You shouldn't be looking at ANYTHING if you are long the DAILY but the DAILY and preferably at the end of the day.

Look at Cable DAILY:

Pin tests left eye and then triggers. Then moves up. On that TF, we are comfortable. The trade looks almost picture perfect so far.

Then look at the 5m:

Cable drifts lower this morning...then shoots up later on in the session, consolidates...news hits the wires the BOE has been evacuated from a bomb scare...price tanks...suddenly everything looks well bearish...next thing we go parabolic on the London fixings but the Euro is tanking so that scares us...wtf is going on...is this Dollar strength or Euro weakness? Cable hits a resistance level and comes off 30 pips in 5 minutes...was that the top? Should we get out?....suddenly we're pushing up again...hold on it's a 5m pin...long noses on the last 3 five minutes candles...this could tank now...

You get the drift. What a rollercoaster of emotion.

And for what?

Stops are in. Targets are in (depending on how you trade)

Who cares what happens in between?

 

[supremegizmo]

dollar ..

ps. anyone out there able to produce a good technical argument as to why dollar should rally or fall?
i dont want to know your fundamental biases..........

i was about to upload my analysis .. i hope it helps omni .. pls find attached the doc

pardon for errors as my final report will be published for my firm on thursday so this ones not tidy:cheesy:

 

[elitejets]

Usdchf

Attached

 

[haircut]

Hi Trader_Dante
Love this thread and I am currently working through all your other threads and hoping to learn as much and as fast as possible.
I am in the cable trade...I think there has been a chart put up already but here is mine. The problem I have is I let my losers run and close out my winning trades too soon only to see them go ballistic!!
I have my stop loss set and my target for this trade is 1.4800.
Can you give me any tips on how not to do what i always bloody do!!!
Thanks I am pleased to be in such a nice trade just need to let it work for me!!

 

[supremegizmo]

i was about to upload my analysis .. i hope it helps omni .. pls find attached the doc

pardon for errors as my final report will be published for my firm on thursday so this ones not tidy:cheesy:

just wanted to add in my doc .
if any ones got access to bloomberg you can find the risk reversal for eur/usd

risk reversal will tell you if the market is bid more for call options or put options for same strike .. it will help to add to your daily analysis

i will try to put the pic tommorow ifpossible .. till then people have a nice evening