isatrader
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Hi Robwin, is good to see that you are posting lots of charts of your trades. I think it would be interesting for people to see some of the trades in real time at your entry point with your chart and trendlines etc, and your thoughts on why you entered and then when you exit with the same type of thing. I’ve personally found it very useful to do this as it helps me to analyze my trades and see where I’m making mistakes. Good luck.
robwin
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I'd like to do that isatrader and I did try it once but trading 4 pairs on 5 min is fast and when one pair goes the other pairs tend to follow. Posting charts here in real time takes me away from Metatrader and I miss trades, so my charts have to be posted after the market has moved when I'm in profit and have more time.
I think I give the entry and stoploss rules pretty clearly at the beginning of my journal so you can see the reason why I entered where I did but if there's anything you're not clear on let me know.
I intended to start this journal in the new year and only give a brief outline of entry rules for now but one thing led to another and there you have it! I'll go more into exit rules in the new year.
In the meantime a nice trade on cable, hope you can see exactly why I entered where I did........
I think I give the entry and stoploss rules pretty clearly at the beginning of my journal so you can see the reason why I entered where I did but if there's anything you're not clear on let me know.
I intended to start this journal in the new year and only give a brief outline of entry rules for now but one thing led to another and there you have it! I'll go more into exit rules in the new year.
In the meantime a nice trade on cable, hope you can see exactly why I entered where I did........
isatrader
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I can see what you are saying and can see that it must be tricky day trading to take the time to review what you are doing. But I wasn’t suggesting you post real time entries for all your day trades. Just an occasional one close to your entry. This could be just a screenshot, so really quick, which you could then post once you were set up with stop loss etc, and then you could do the same for your exit on that trade. Then later in the day you could go back and edit each post with your reasons for what you did. I think it would help you more than looking at the overall chart after the trade is finished as you are focusing on the right edge of the chart. Is just a suggestion, but I think it would help you. Good luck with your trading.
isatrader
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I apologise that you took what I was saying as doubting you. I was honestly trying to be helpful.
Just getting pipped at that type of stoploss on your chart is covered quite fully on this thread
http://www.trade2win.com/boards/first-steps/105646-revisiting-price-action.html
If you haven't gone through it, it is well worth a read.
robwin
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Had a quick read and correct me if I'm wrong but as far as I can make out he's simply using a near high or low as a stoploss level. I use the 50 ema channel as a barrier against the price, sometimes this results in my stop being just above a high or just below a low but in the main it's the channel that acts as a protective shield. Not 100% effective of course nothing is, sometimes the price will spike on though but it's done pretty well up to now.
What he is saying is that the high of a bar is likely to be taken out by the market, just in case there are stops there. Quite often, there are. As you are using an average for a stop, it might be prudent to note whether there are highs of bars around there that might be attacked and move your stop accordingly.
Just a comment, not a criticism. I am enjoying your thread.
Just a comment, not a criticism. I am enjoying your thread.
robwin
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No worries splitlink I 'm not a sensitive soul and any comments criticism or even abuse effects me not, too old and ugly to worry on that score! This is an open thread for like minded poeple so all comments good bad or indifferent are welcome, after all we're here for one thing - to make pips!
