Best Thread Potential setups
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grimweasel
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Good call TD. I got out too early on my long this morning, but a pipage is better than a losing pippage I guess!!
I'm now short on the rejection of the monthly and weekly pivots combined with the 4hr 20 EMA - needs a bloody good shove up to break that lot so figured a short was on the cards after this mornings rally (at least back to 50% fib at .8925 area).
Good trading y'all!
Grim
trader_dante
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Hey thanks for the comments guys.
You just have to remember: trading is about finding an entry with the highest probability of sucess and taking a position at it and then mangaging your risk not only at the outset but as the trade progresses too.
The rest is down to the market.
This trade might fall flat on its face.
That's trading for you.
But if you trade this way, you stack the odds in your favour and you will make money over the long run.
The people that lose are those that go:
"it's had a huge rally, better sell here..."
or
"It's had a huge rally off the low, must keep going...I'll buy here..." etc
I've been there and done it. Infact, I still do from time to time because as much as I hate it, I'm only human.
I still trade on impulse here and there and when I do I usually end up buying the high or selling the low.
Trade smart. And always have a plan.
Where are you getting in? How much are you risking? Where are you stopping yourself out? Where are you adding if it goes in your favour?
This is a business first and foremost...all contingencies must be planned for
You just have to remember: trading is about finding an entry with the highest probability of sucess and taking a position at it and then mangaging your risk not only at the outset but as the trade progresses too.
The rest is down to the market.
This trade might fall flat on its face.
That's trading for you.
But if you trade this way, you stack the odds in your favour and you will make money over the long run.
The people that lose are those that go:
"it's had a huge rally, better sell here..."
or
"It's had a huge rally off the low, must keep going...I'll buy here..." etc
I've been there and done it. Infact, I still do from time to time because as much as I hate it, I'm only human.
I still trade on impulse here and there and when I do I usually end up buying the high or selling the low.
Trade smart. And always have a plan.
Where are you getting in? How much are you risking? Where are you stopping yourself out? Where are you adding if it goes in your favour?
This is a business first and foremost...all contingencies must be planned for
Hey thanks for the comments guys.
You just have to remember: trading is about finding an entry with the highest probability of sucess and taking a position at it and then mangaging your risk not only at the outset but as the trade progresses too.
The rest is down to the market.
This trade might fall flat on its face.
That's trading for you.
But if you trade this way, you stack the odds in your favour and you will make money over the long run.
The people that lose are those that go:
"it's had a huge rally, better sell here..."
or
"It's had a huge rally off the low, must keep going...I'll buy here..." etc
I've been there and done it. Infact, I still do from time to time because as much as I hate it, I'm only human.
I still trade on impulse here and there and when I do I usually end up buying the high or selling the low.
Trade smart. And always have a plan.
Where are you getting in? How much are you risking? Where are you stopping yourself out? Where are you adding if it goes in your favour?
This is a business first and foremost...all contingencies must be planned for
td,
just wanted to ask do you think a break of the 1 hr pin on E/GB would have been a valid entry for this short?
berti
trader_dante
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Yes...but if it doesn't move relatively quickly (2 hours) I often start scaling out.
Otherwise you can get caught in a period of consolidation rather than an actual reversal.
trader_dante
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Dow shorting time is upon us!!
7890 here. Great place to hammer it.
Target 7820.
7890 here. Great place to hammer it.
Target 7820.
N Rothschild
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took a rather large short gold position at the last high
N Rothschild
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not so sure, price rpediction showing higher than that, i would be happier shorting it at the 1hr TL
N Rothschild
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altho if im wrong im completely hedged
trader_dante
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This will hit 7820.
The high of the day was Fridays lows...again, pretty predictable
The high of the day was Fridays lows...again, pretty predictable
chilltrader
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This will hit 7820.
The high of the day was Fridays lows...again, pretty predictable
Computer says YES
trader_dante
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Argh, I tried to call it short again from 7915 but my connection was playing up and I couldn't get on the site.
Hit it here at 7875 for a move down to 7820.
Hit it here at 7875 for a move down to 7820.
N Rothschild
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good call altho it did go up before it went down ;P
trader_dante
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Only by 13 ticks!!
N Rothschild
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:clap:
Lobwan
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Nice call on gold. Managed to get $15 of the move my self.
N Rothschild
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KillPhil08
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EURGBP now stuck in a wedge.
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