100% winning scalps

[Gaggs]

We had an 18 or so pip move up from the low just under 1.3910 and now in a retracement of that move. Should hit the target after that as long as this turns into a real 1-2-3

 

[Gaggs]

This is the part where I wish I had just taken the 8 pips on the table when it was close to my target. But as long as this is the end of the "2" of the 1-2-3 then I should be ok.

 

[Gaggs]

Well looks like I was right with my first thought and should have gotten out as I was just stopped out of the trade. Now lets watch the market bounce right off the round number that's right below the stop.

 

[Gaggs]

Well new signal means new trade so here we go again!

 

[Gaggs]

Out of the trade again!

 

[Gaggs]

Well after that many bad trades in a row I quite it last night.
Just the night that is not trading.
And talking with my brother a bit he asked me one simple little question...why was I on the wrong side of the trade?

So I looked at the charts and told him I wasn't sure other than the obvious. Because the market didn't turn when I expected it to.

He looked at me and asked if I needed to clean my glasses. Then he simply pointed out the fact that I was betting against the trend IN a trending market. He then pointed out that you trade a trending market by jumping ON the trend wagon and trade a sideways market the way I was trading last night.

Lesson learned.

 

[Smiffy42]

Hi Gaggs,
What are you using to see the setup, other than the MK1 eyeball?
Looks interesting.
Paul.

 

[Gaggs]

Hi Gaggs,
What are you using to see the setup, other than the MK1 eyeball?
Looks interesting.
Paul.

Well to tell the truth just looking at the candles and tails. Trying to keep it as simple as possible.
But as I talk more with my brother I am seeing that I need to add a little bit of common sense to the list. You know that whole trend thing and all!

 

[Smiffy42]

Well i just took a good look back through my charts and i like what i see.
Maybe look for overall trend on a higher time frame...if they match then go for it!
Paul.

 

[Gaggs]

Well i just took a good look back through my charts and i like what i see.
Maybe look for overall trend on a higher time frame...if they match then go for it!
Paul.

Yah that's what I was thinking. Well what was pointed back out to me by my brother anyway.
I like to look for the 1-2-3 pattern as it is my favorite and he suggested that I look for that on the larger time frame also. Had I done that last night I would have seen the 1-2-3 on the hour chart and might have gone short like I should have been.