are we having fun yet ?
looks like risk off plays now ....buying usd and yen (finally)
Not yet, in a moment I will ...
Short EUR 1.26566.
The frantic moment caused me to forget my trading rules. My trailing stop 25 was hit losing -22.
Guys,
Please put the entry price and and stop when you take the trade. This thread is for live calls, not late calls,not calls on spikes,etc,etc.[/QUOTE]
Agree 100%
At least there should be a precise entry point with a stop at the time of the entry or order. It would be a bonus to have an explanation about the trades as well - for the followers keen to learn about trading.
If it can't be done, why not post somewhere else - most of the other threads are for late and hindsight trades
Had my fun. See ya peeps. I don't think my calls are suitable for here, and it's also a distraction for me in a fast paced market. Hope you will get your five stars back now that I will take my clown with me.
Guys,
Please put the entry price and and stop when you take the trade. This thread is for live calls, not late calls,not calls on spikes,etc,etc.
Guys,
Please put the entry price and and stop when you take the trade. This thread is for live calls, not late calls,not calls on spikes,etc,etc.[/QUOTE]
Agree 100%
At least there should be a precise entry point with a stop at the time of the entry or order. It would be a bonus to have an explanation about the trades as well - for the followers keen to learn about trading.
If it can't be done, why not post somewhere else - most of the other threads are for late and hindsight trades
yep.
When i place a trade, it takes me a couple of mins to check it over - just my routine cos sometimes the trade looks different once you're actually in it. If, by the time i come to post, the price has moved more than a couple of pips, i won't even post because it invites doubt...
But don't knock hindsight trades! I love hindsight trades! I went short on eurusd may 2011 - its up 2300 pips already and counting. What a good trader i am...
(i'm thinking of moving the stop to break even soon.)
Order for short on AUDUSD.
Entry: 1.02225
Target: 1.01424
Stop: 1.02530
Risk: 30.5 (ex spread)
Reward: 80.1 (ex spread)
1:2.6 ratio.
Random thoughts:
Taking that all into consideration, r:r becomes realistically more complicated than just stating a simple ratio as i`ve done above. Reason of course depends on how the individual calls a trade early. Big discipline of mine is setting rules to exit early on potential bias change (whether that be PA, s/r stalling, CS reading, patterns etc).
This then of course effects the `true r:r` over its initial forecast and its that figure that truly reflects performance when talking risk:reward ratios.
If all goes to plan that is the potential estimated expectations.
First entry on AUDUSD triggered (mentioned my order way back)
Thats perfectly acceptable for the thread. I only moan because there are so many journals on here which is why this has to be as live as possible. A few pips out now and again,sure anything else defeats the object. At the end of the day,we will never know who actually took what trade and who is who,it really doesnt matter,just has to be live trades. As others have said,it helps if we can say why we enter etc. I will make more effort in that area when I can
Chart im interested in and notes. I act when the market comes to me. If it doesn't play out as anticipated I ignore and move on. (details and drawings on charts are to illustrate things more clearly so others understand the basic thought process applied at this stage)
What time frame do you trade?
Some food for thought, use chart I uploaded previously, you`ll see the similarities (page 802 #6414). Not entirely sure why you initially took that short and then switched direction as you were selling old resistance, now potential new support. Basic retest here, means warning sign no matter how you trade. Bias should always be in place even if your strategy is different from mine. Also look at the exponential MA` trending short time up. Whether you use these or not it gives me and im sure some more experienced traders (who use them) a baring on direction/trend just by simply applying some basic price action. The technical mechanics on entries, targets and stops is entirely up to you and what works best.
(sorry for edit, think previous notes wernt too clear)
GBPJPY looking good for a potential long
here` chart, just changing few stops and orders slightly.
But don't knock hindsight trades! I love hindsight trades!
From some hindsight trades one can learn - they are beneficial as well. But there are so many books, threads etc. about hindsight trading - some of them good for learning about trading and most of them just there to make money for somebody else.
Personally I prefer live trades (talking about set ups in advance and going through the process as it happens)
IMO it's not about proving how good one is at trading, it's more about getting a realistic picture about trading. It doesn't matter if calls end up in profit or loss - it's more important to see the idea behind. Then we can discuss and point some good and bad things about each trade - thus improving our trading skills. And I think live calls are the best for that purpose
your right, we all learn most from what weve seen and the mistakes of our own and others. Its just nice to have one thread where its live.