ChocolateDigestive
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and i book my winner here with the TP order filled for +10, no positive slippage of course
that was a great live example of manipulation.
so 5 winners 0 losers +48 pips.
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- Thread starter Lord Flasheart
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and i book my winner here with the TP order filled for +10, no positive slippage of course
that was a great live example of manipulation.
so 5 winners 0 losers +48 pips.
ChocolateDigestive
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short again eurusd 1.3015 20 pip SL. it wants the round number badly.
ChocolateDigestive
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taking some heat now, some would say it was foolish to sell right into the low but I really felt the larger players want that round number, they need the round number for a variety of reasons. The way price was moving suggested a quick move was coming, my spidey sense was triggered. I would be disappointed not to see the 1.3000 in the asian session.
ChocolateDigestive
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totally agree with you mate it doesn't always want the round number but when it approaches with speed and menace it normally makes it. this is where the gut instinct and screen time comes in, it sort of a 6th sense.
ChocolateDigestive
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there you go again :cheesy: shorting into that uptrend. I am not saying the trade wont work I all I am saying is that it's harder going against the grain. also this sounds dumb but one of the reasons humans like reversals is that they occur at the top and bottom of the screen and we think it is going to bounce off.
eurusd set for another retest of the lows.
ChocolateDigestive
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how long have you been trading? and how old are you?
VielGeld
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Hmm... Hard to say.
I've been at it for 5 years, but not sure that counts since that was going-nowhere territory.
I really got into it one year ago and read everything under the sun. But then I blew up.
I've only been going at it "properly" since October when I was re-molded into something better.
So... call it 5 months since that's really when I started just watching the screen and nothing else. Me and the naked chart, that's it. Couple different t/fs for perspective, but beyond that it's me and my chart.
I've been at it for 5 years, but not sure that counts since that was going-nowhere territory.
I really got into it one year ago and read everything under the sun. But then I blew up.
I've only been going at it "properly" since October when I was re-molded into something better.
So... call it 5 months since that's really when I started just watching the screen and nothing else. Me and the naked chart, that's it. Couple different t/fs for perspective, but beyond that it's me and my chart.
ChocolateDigestive
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my advice is to give up now lol. only joking.
you are from Canada why dont you contact Amit on this thread I believe he is in Canada.
http://www.trade2win.com/boards/trading-journals/73472-breakout-trading-using-time-sales.html
he is doing very well for himself. sign up for a month free trial of esignal and check out some momentum break out stocks.
spread betting is not a game for beginners, it's a game where everything is stacked against you. look at the way that last trade of mine went with the manipulation in the underlying, you play that with tight stops you may as well flush money down the toilet.
for beginners you should NEVER trade against the money flow EVER. dont EVER trade with scared money. Why are you trading against the trend/flow? Why why why?
There are loads of decent prop shops in US / Canada where you can get some great experience, you are spoilt for choice over there. Here in London we only have a couple of decent firms and then lots of pretend firms who sell training/deskspace. Some will let you in for a deposit of $3000 99% profit split $0.005 per trade, you can then trade through different order routes like SigmaX, dark pool Goldman Sachs, you get filled at the mid point and they pay you for limit orders.
eurusd is taking the pi55 now, how many times can it retest 1.3014?
VielGeld
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Thanks, man. I'm in this for a good while yet, though. The game's a bit too fascinating at times, if frustrating as well.
I used to trade stocks at first, but that's not turned out to be my cup of tea. I prefer just trading one instrument and getting really good at it.
I've gone to hell and back over options, that's where I lost my money. Those things are terrible for day-trading.
Futures intrigue me, but my bankroll is too small atm for that. I've been looking into getting a demo account and checking out how the DoM/level II/T&S/etc. stuff works.
So now I'm doing currencies because the spread is small and you can easily get in + variable leverage/position sizing.
-----
As for prop shops, been looking into that too. In some areas in the US, they're a-plenty (like Chicago), but I don't know about much if anything of the scene here. I know of 5 local ones, and it seems like if I do choose to take one up, then it's the lesser of 5 evils. Lol.
But yes, this would be the ideal choice. I'm just wary of not making the right one and getting fleeced out of a couple k or something. The online rep of these companies is hard to review. They get both extremes of the spectrum, so it's hard to say what's what.
-----
And yeah, why do I play contra-trend?
I've done an analysis of 100+ trades, and the one conclusion that came out of that was: don't do contra-trend. Sounds obvious, lol.
Problem is that there's plenty on the screen to make me doubt myself. Say if there's a strong sell move, will the momentum then switch to the downside, or is it going to be a pullback in the trend? Both are possible options. Then again, you get a move like tonight where the E/J moves up, but then sells off rapidly before a news item, then quickly reverses back up and makes new session highs. I have to scratch my head over that stuff.
Maybe it just comes down to screen time?
I used to trade stocks at first, but that's not turned out to be my cup of tea. I prefer just trading one instrument and getting really good at it.
I've gone to hell and back over options, that's where I lost my money. Those things are terrible for day-trading.
Futures intrigue me, but my bankroll is too small atm for that. I've been looking into getting a demo account and checking out how the DoM/level II/T&S/etc. stuff works.
So now I'm doing currencies because the spread is small and you can easily get in + variable leverage/position sizing.
-----
As for prop shops, been looking into that too. In some areas in the US, they're a-plenty (like Chicago), but I don't know about much if anything of the scene here. I know of 5 local ones, and it seems like if I do choose to take one up, then it's the lesser of 5 evils. Lol.
But yes, this would be the ideal choice. I'm just wary of not making the right one and getting fleeced out of a couple k or something. The online rep of these companies is hard to review. They get both extremes of the spectrum, so it's hard to say what's what.
-----
And yeah, why do I play contra-trend?
I've done an analysis of 100+ trades, and the one conclusion that came out of that was: don't do contra-trend. Sounds obvious, lol.
Problem is that there's plenty on the screen to make me doubt myself. Say if there's a strong sell move, will the momentum then switch to the downside, or is it going to be a pullback in the trend? Both are possible options. Then again, you get a move like tonight where the E/J moves up, but then sells off rapidly before a news item, then quickly reverses back up and makes new session highs. I have to scratch my head over that stuff.
Maybe it just comes down to screen time?
ChocolateDigestive
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right I was up +10 at one point and I let it come all the way back to break even again, I should have taken those points of the table, really bad trading. I have to be up early so I still think this is going to 1.3000. I will leave my 20 pip SL in place and a TP order at 1.3000, it's a grudge trade now.
I am pretty sure I will rise in the morning to book my winner, so I can sleep easy.
ChocolateDigestive
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Thanks, man. I'm in this for a good while yet, though. The game's a bit too fascinating at times, if frustrating as well.
I used to trade stocks at first, but that's not turned out to be my cup of tea. I prefer just trading one instrument and getting really good at it.
I've gone to hell and back over options, that's where I lost my money. Those things are terrible for day-trading.
Futures intrigue me, but my bankroll is too small atm for that. I've been looking into getting a demo account and checking out how the DoM/level II/T&S/etc. stuff works.
So now I'm doing currencies because the spread is small and you can easily get in + variable leverage/position sizing.
-----
As for prop shops, been looking into that too. In some areas in the US, they're a-plenty (like Chicago), but I don't know about much if anything of the scene here. I know of 5 local ones, and it seems like if I do choose to take one up, then it's the lesser of 5 evils. Lol.
But yes, this would be the ideal choice. I'm just wary of not making the right one and getting fleeced out of a couple k or something. The online rep of these companies is hard to review. They get both extremes of the spectrum, so it's hard to say what's what.
-----
And yeah, why do I play contra-trend?
I've done an analysis of 100+ trades, and the one conclusion that came out of that was: don't do contra-trend. Sounds obvious, lol.
Problem is that there's plenty on the screen to make me doubt myself. Say if there's a strong sell move, will the momentum then switch to the downside, or is it going to be a pullback in the trend? Both are possible options. Then again, you get a move like tonight where the E/J moves up, but then sells off rapidly before a news item, then quickly reverses back up and makes new session highs. I have to scratch my head over that stuff.
Maybe it just comes down to screen time?
you are still talking like you want to take reversals. I fear unless you get this out of your head you cannot move forward.
just my 2c.
VielGeld
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Interesting you should say that. Yes, it's quite possible I haven't gotten it out of my system.
But at the same time, I am having trouble figuring out direction at times, and it does seem like it wants to go lower.
And then... I just get scrambled. lol.
-----
Then again, getting consistent is my struggle right now. I need to fix my mental state to be in the place it needs to be, but it's proving harder than I thought.
Oh well, I'm young, so it's all good. At least I'm working on it rather early, eh?
And thanks again, man. I really appreciate all the help I've gotten on T2W. :smart:
Mike Kshemaraja
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Thanks, man. I'm in this for a good while yet, though. The game's a bit too fascinating at times, if frustrating as well.
I used to trade stocks at first, but that's not turned out to be my cup of tea. I prefer just trading one instrument and getting really good at it.
I've gone to hell and back over options, that's where I lost my money. Those things are terrible for day-trading.
Futures intrigue me, but my bankroll is too small atm for that. I've been looking into getting a demo account and checking out how the DoM/level II/T&S/etc. stuff works.
So now I'm doing currencies because the spread is small and you can easily get in + variable leverage/position sizing.
-----
As for prop shops, been looking into that too. In some areas in the US, they're a-plenty (like Chicago), but I don't know about much if anything of the scene here. I know of 5 local ones, and it seems like if I do choose to take one up, then it's the lesser of 5 evils. Lol.
But yes, this would be the ideal choice. I'm just wary of not making the right one and getting fleeced out of a couple k or something. The online rep of these companies is hard to review. They get both extremes of the spectrum, so it's hard to say what's what.
-----
And yeah, why do I play contra-trend?
I've done an analysis of 100+ trades, and the one conclusion that came out of that was: don't do contra-trend. Sounds obvious, lol.
Problem is that there's plenty on the screen to make me doubt myself. Say if there's a strong sell move, will the momentum then switch to the downside, or is it going to be a pullback in the trend? Both are possible options. Then again, you get a move like tonight where the E/J moves up, but then sells off rapidly before a news item, then quickly reverses back up and makes new session highs. I have to scratch my head over that stuff.
Maybe it just comes down to screen time?
Screen time is the only way to go in my view, every bar has a significance, even the most insignificant, your move needs to be rational, if wrong, does not matter, the last trade does not count, the overall does, this was my last trade:
Did not take the PB at D for long, because I wanted a touch or maybe a poke of the ema, did not take the PB at C because the double top formation of A and B.
Then she formed lower highs (1, 2, 3), by 2 I already drawn my box, not sure yet in which direction she was going, I was just observing.
She had a fail break which I did not take because I wanted to see more build up pressure with the ema pushing, squeezing the price out of the box, which she did exactly that after 3 in which the bulls of the fail break also got trapped .
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ChocolateDigestive
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right I was up +10 at one point and I let it come all the way back to break even again, I should have taken those points of the table, really bad trading. I have to be up early so I still think this is going to 1.3000. I will leave my 20 pip SL in place and a TP order at 1.3000, it's a grudge trade now.
I am pretty sure I will rise in the morning to book my winner, so I can sleep easy.
Horrible. -20 loss and I could have taken +10 at one stage but I got hung up on the round number. I got cocky going for the round number.
5 trades 1 loser +24
