This is just my two cents:
The squeeze in the box is not very convincing to me and the last ceiling was high and not tested.
For me it looks like prices felt down almost from the top of the box, hesitated a bit to break and then bulls came in to counter the fall.
And right, I also feel that Mondays are not the best days to trade.
Giorrgi
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I took almost the same trade as Mynaus but as a pullback ARB.
And then another one on the EUR/JPY.
Both seemed to be breaking but the bears weren't enthusiastic enough so prices flipped back up. on EUR/US prices seem to be clinging to the 1.38. I agree with the fact that the last ceiling wasn't tested but after the second break attempt (the one that I took) came after a retest of previous break point, so it seemed solid.
And then another one on the EUR/JPY.
Both seemed to be breaking but the bears weren't enthusiastic enough so prices flipped back up. on EUR/US prices seem to be clinging to the 1.38. I agree with the fact that the last ceiling wasn't tested but after the second break attempt (the one that I took) came after a retest of previous break point, so it seemed solid.
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Hi,
Three trades today and a loss, again
I'm not very proud of myself actually.
All comments are welcome.
Oh, and by the way, I switched to PRT.
Hey Mitch!
Cool for PRT, I hope you are happy with it.
I think you disrespected the tipping point technic in your two first trades.
In the first trade, well, you really should have let it run, there were not much reason for a valid close. Almost always will you see prices come back to test previous breaks, and you should not bail out so soon, as it can become a new tipping point as well. In the second, it is more debatable, but still pretty agressive exit. Remember that the trade that you are currently in is the least important of all. If the first Tipping point is too far, don't trade, if it is reasonable, don't bail out too early. On of the reason to bail out early would be a lack of followthrough, meaning that prices go nowhere, or that in created a kind of reversed BB. At least that's what I see from Bob's charts. You will learn, it is complicated to assess everything in the heat of the market, with the entry, compared to the exits and what happen in between.... For me, when I am angry at what i have done, I actually don't learn. Because i put it on emotion or i blame the market or whatever. But when I am not affected at all about it, i learn, because i look at things rationaly, at least a little more. My point is that: don't be angry or disappointed about yourself. Be rational. Who give a **** about this particular trade? did the birds stopped singing? the sun's still there? all good!!
At least that's what i tell myself in the cases. When I can't get over it, i tend to **** up more in the coming days, so maybe take little break too. It realy helps.
Have a great day!!
PS: this is my views, i can be wrong, but like everything, you learn best by teaching
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Hi Kulpio,
After a few days of test with PRT I'm very happy with it. I'm still in the trial period but I will surely pay for it at the end. It misses a few things I appreciate in Meta Trader but all in all it's a very comfortable and professional platform.
I do agree with you that in the heat of the action it's difficult to stay calm and cold blooded. But I guess that's part of the training. I'm learning days after days and I already made some good progress but not as quickly as I expected. But I don't worry too much as I have plenty of time and no real pressure. I'm still using demo accounts and will not switch to real money until I'm reasonably sure that I can be profitable in the long run. It's more a matter of self esteem but I can deal with that and will not surrender easily.
As I speak there's a setup that appears to be not too bad so let's see if I take the trade.
Cheers
PS: BTW thanks for your support. It's very helpful.
PPS : And I finally didn't take the trade... fortunately. It was right at a 50% retracement of the previous low so you see I'm learning.
After a few days of test with PRT I'm very happy with it. I'm still in the trial period but I will surely pay for it at the end. It misses a few things I appreciate in Meta Trader but all in all it's a very comfortable and professional platform.
I do agree with you that in the heat of the action it's difficult to stay calm and cold blooded. But I guess that's part of the training. I'm learning days after days and I already made some good progress but not as quickly as I expected. But I don't worry too much as I have plenty of time and no real pressure. I'm still using demo accounts and will not switch to real money until I'm reasonably sure that I can be profitable in the long run. It's more a matter of self esteem but I can deal with that and will not surrender easily.
As I speak there's a setup that appears to be not too bad so let's see if I take the trade.
Cheers
PS: BTW thanks for your support. It's very helpful.
PPS : And I finally didn't take the trade... fortunately.
It was right at a 50% retracement of the previous low so you see I'm learning.
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garageboyFUJI
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Hi Garageboy,
Yep I took thid one too but I managed it differently and obviously poorly compared to you. I do need to work on respecting the tipping points.
And a second one on which I'm not very proud.
But I wasn't able to do anything during the downtrend itself.
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garageboyFUJI
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Hi Garageboy,
Yep I took thid one too but I managed it differently and obviously poorly compared to you. I do need to work on respecting the tipping points.
And a second one on which I'm not very proud.
But I wasn't able to do anything during the downtrend itself.
Hi, Mitch91
About Tipping Point of this IRB trade, I understand what you mean. But I thought your TP is too sharply. I thought it was no point before it. It was no pullback, no good point of TP. so I cannot move from first " stop " to next " stop " point.
sorry, my English is poor
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garageboyFUJI
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Traderallen
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And of month tally is............
Coming off of August and September's gains of 25% returns for the two months I managed to fall short of my goal this month. However I may have just set the goal post a little bit high. I was hoping to get a return of 20% however I was only able to squeeze out a 10% return for the month of October. This was mainly due to to the fact that I had other obligations that got in the way of my trading times my trade volume for the month was about 25% of normal. I'm going to however keep my goal for the month of November and 20% return on investment, a.k.a. account size. Open everyone here as a prosperous month ahead.
Coming off of August and September's gains of 25% returns for the two months I managed to fall short of my goal this month. However I may have just set the goal post a little bit high. I was hoping to get a return of 20% however I was only able to squeeze out a 10% return for the month of October. This was mainly due to to the fact that I had other obligations that got in the way of my trading times my trade volume for the month was about 25% of normal. I'm going to however keep my goal for the month of November and 20% return on investment, a.k.a. account size. Open everyone here as a prosperous month ahead.
Hi,
Congratulations.
If only I could make a 10% return every month...
But one day I will.
Traderallen
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Hard work
Treat trading as a business (just as if you have a boss looking over your shoulder) and focus on your rules and have the discipline to follow them. And you will get there.
Hi,
Congratulations.
If only I could make a 10% return every month...
But one day I will.
Treat trading as a business (just as if you have a boss looking over your shoulder) and focus on your rules and have the discipline to follow them. And you will get there.
BLS
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Week 44 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
matty_dunn
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