Test your reactions with this!

[Rognvald]

Ok folks – how about a bit of trading psychological fun. Some of you may have seen this before. If so please don’t cheat or blow the whistle for those who haven’t and want to try.

I have attached below a fictitious price line with points at which I would like you to make comments.

The price line comes in 3 parts. I’ll post 1 section every day if there is sufficient interest .

If people would like to join the fun and compare their reactions with those of Joe Average as we go along please post your comments here beside the appropriate numbers as though you had been watching this and at some point decided to make a trade.

You must stick with it though and can’t join in after the first day period is up ie midnight BST on 1st April. You must post by midnight at the end of each period so that your views are recorded before you see the next episode!

I have a version with comments from the “joe average trader” pasted in and will post this after all the entries are in.

Should be interesting

ps not an April fool.

 

[Rognvald]

Come on folks - lets be having you - its only a bit of fun

 

[Rognvald]

OK as you're all shy - here are Joes 1st two observations - now take it from there

 

[rossored]

Rog - I would join in the fun mate, but I hate line charts. Ain't you got one with OHLC bars instead????

 

[boy]

ZZZZZZZ..zzzzzzz

 

[sidinuk]

ok I'll have a go!

1. This looks to be an uptrend, I might want to go long.
2. The price is pulling back, so set a buy stop above the recent high.
3. Buy stop was triggered, I am now long and the trade has moved in my favour - sell stop set to breakeven.
4. Trade continues in my favour, move the sell stop up.
5. Trend visually looks to have topped out but I must wait for my stop to be hit for confirmation, rather than trying to anticipate it.

 

[Rognvald]

RR
now rr - I'm sure u know I "lifted" this so no - it wasn't reallymeant foe experts like u :cheesy:

 

[Rognvald]

snk
thx for joining in

 

[Rognvald]

OK so you didn't want to play.I thought it would be entertaining but you - the boards - didn't and it was probably pitched at the wrong level.

Anyway - for the sake of completeness I am attaching the whole priceline with joe's comments - I think there are lessons to be learned there for some. So if you want to have a look and a laugh - please do.

I would like to credit the idea to Elite Trader and in particular to its excellent contributor dbphoenix who permitted me to use the material.

 

[a0-0b]

Would have played, but caught the thread too late ...

 

[GEM]

Rognvald

Very interesting price line, typical of an undisciplined trader.

Always entertaining (If you are not the one)

 

[900xs]

Howls of laughter, this end Mr Editor......sooo easy to laugh at yourself when someone shows you what you've done. (history to me now........er em, I trust)

watching mary poppins (first time) on 3...."the wind is getting up and the glass is falling"

xs

 

[elliottmillion]

i don't understand why no one was up for that.

1. it appears that the price hasn't decided which way to go yet, i would stay out.
2. a strong uptrend is a good buy signal, especially as the market doesn't make a new low after 2.
3. have gone long a few times ( i hope ) as continuation trades.
4. another large move upwards, maybe the last of the big leg.
5. Market failed to make a new high, and now looks to be starting a sequence downwards.

 

[Rognvald]

em
nor do I -

 

[pkfryer]

Post other stuff like this, its interesting!