Trading with point and figure

[Dentalfloss]

ftse...straight back down to our 7513 supp area
excellent stuff

 

[Dentalfloss]

ftse...straight back down to our 7513 supp area
excellent stuff

and bounce.. for a scalp

 

[Dentalfloss]

uk inflation up to 2.9%

 

[Moneylender]

DAX @ 12770 is that the first res point, I expected it to go to 780 but its prob close enough

 

[Dentalfloss]

nas 100
5750 rez...lets see what happens

 

[Dentalfloss]

testing 5750 now

 

[Moneylender]

DAX @ 12770 is that the first res point, I expected it to go to 780 but its prob close enough

Well I got my 12780 even if it took longer than I expected.

 

[cantagril]

Am long at 12760 TP12812

Out at 12779 having added another couple on the way down. All a bit sweaty and uncomfortable. I'm beginning to get the levels right but it seems that I don't which way is up..or down. Anyway, I live to fail another day.....

 

[f2calv]

having added another couple

Well I can't comment on the levels, but I approve of the pyramiding-in, it's the way to bigger wins (as long as you manage your risk along with each new position) 👍

 

[cantagril]

Well I can't comment on the levels, but I approve of the pyramiding-in, it's the way to bigger wins (as long as you manage your risk along with each new position) 👍

Agreed...and indeed I pulled out well over 100 grommets on the three trades, nonetheless I'm not that happy as one of my unbreakable rules (which I've just broken) is not to add to a position when I've got the direction wrong on the first one.

"'Then I did something terribly risky and not all that clever, but once again fortune chose to reward my stupidity.” (How to be a Husband, Tim Dowling, 2014)

 

[Moneylender]

Why dont you guys hedge your position once you realise you have it wrong?

At least then it gives you time to evaluate and get your money back.

 

[Dentalfloss]

Why dont you guys hedge your position once you realise you have it wrong?

At least then it gives you time to evaluate and get your money back.

entries...if they are judged properly...stop is tight
tight stops ...difficult to hedge..imho

 

[Dentalfloss]

Out at 12779 having added another couple on the way down. All a bit sweaty and uncomfortable. I'm beginning to get the levels right but it seems that I don't which way is up..or down. Anyway, I live to fail another day.....

up or down..??
which way is the latest trend.?

 

[Dentalfloss]

entries
prejudge breakout area....in our terms ...it is pump or dump

 

[cantagril]

Why dont you guys hedge your position once you realise you have it wrong?

At least then it gives you time to evaluate and get your money back.

Fair point. I do hedge when I'm dithering but I usually find it to be more of a hindrance than a help. Here I was convinced I had it right and as I said, in the end it worked out quite well. It's just that I didn't like the ride down and rather than hedging I should have just reversed the position...which would have left me with the same profit but cool and smug as well..

 

[Dentalfloss]

prejudge breakout area
prev supp /rez that we post premarket...that only gives us an idea what could happen and possibly where signals can occurr.It can only be areas ...market does not know or care what box/reversals you are using to filter the data

 

[cantagril]

up or down..??
which way is the latest trend.?

Absolutely. Looking at the chart I convinced myself that we were going to get another move up before going south.

Ah, the joys of the learning curve....

 

[Moneylender]

DAX 12815 pump or dump, lets see

Posted this morning, took its time...

 

[Moneylender]

Closed part of my long here with a good haul, tomorrow is FED day so reduced 2/3

DAX could make an attempt on 12870, lets see.

 

[Dentalfloss]

mornin folks