Best Thread Potential setups
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paitence
t_d wrote a while ago that hes always looking to stay in a winning trade. this, along with me coming to realise that just because i put a stop somewhere, doesnt mean the market cares about it, have been among the most important things to enter my brain regarding trading. Disclaimer: the following is a paper trade, and i am still on play money. still, i am trying to paper as i would with real cash. the following trade was a long usd trade (is it just me or have igindex just removed some inverse selections??) versus the yen, entered on a pin, admittedly near a level which could have caused me trouble.
its very easy to look at a chart of a winning trade and go "wow, easy, enter at that pin (or whatever) and hey presto, look hes 400 pips up!" but this leaves emotion out of the equation, i have put in a few points where i was in (aproximate) different levels of profit and loss, to try show myself and others, that you need to be looking and seeing the price action, not your p/l which is the narrowest interpretation of what the market is trying to tell you. chart 1 is a chart of the daily setup with my levels in, chart 2 is a messy chart of the above.
t_d wrote a while ago that hes always looking to stay in a winning trade. this, along with me coming to realise that just because i put a stop somewhere, doesnt mean the market cares about it, have been among the most important things to enter my brain regarding trading. Disclaimer: the following is a paper trade, and i am still on play money. still, i am trying to paper as i would with real cash. the following trade was a long usd trade (is it just me or have igindex just removed some inverse selections??) versus the yen, entered on a pin, admittedly near a level which could have caused me trouble.
its very easy to look at a chart of a winning trade and go "wow, easy, enter at that pin (or whatever) and hey presto, look hes 400 pips up!" but this leaves emotion out of the equation, i have put in a few points where i was in (aproximate) different levels of profit and loss, to try show myself and others, that you need to be looking and seeing the price action, not your p/l which is the narrowest interpretation of what the market is trying to tell you. chart 1 is a chart of the daily setup with my levels in, chart 2 is a messy chart of the above.
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Reversal signal entries
Hi all,
Thought this may be of use to some of you - I know it goes a little of track from the Pin bar setup but is still within context.
I for one will stay with TD's method for now, until i can get that working effectively for me, but it is always good to see new ideas that can be amalgamated/added to your arsenal.
This comes from a book/folder i am going through by Robert Miner -Dynamic Trading.
I don't have a scanner unfortunately(and in any case that would be copyright) so i just typed out this part which seemed relative. (I'm sure he won't mind the plug anyway😉
Hope it's helpful...just thought i'd try to give something back
PS excuse the drawings - had to use Paint)
Hi all,
Thought this may be of use to some of you - I know it goes a little of track from the Pin bar setup but is still within context.
I for one will stay with TD's method for now, until i can get that working effectively for me, but it is always good to see new ideas that can be amalgamated/added to your arsenal.
This comes from a book/folder i am going through by Robert Miner -Dynamic Trading.
I don't have a scanner unfortunately(and in any case that would be copyright) so i just typed out this part which seemed relative. (I'm sure he won't mind the plug anyway😉
Hope it's helpful...just thought i'd try to give something back
PS excuse the drawings - had to use Paint)
trader_dante
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Looking to go long Cable now at 1.8644.
yes looks like it has bounced from the Friday low at around 18618. I'm watching this carefully. Already got an order in for the break of the Pin.
Cheers SuperSpurs.
Portomar I have it on IG. Just type in NZDUSD in the finder.
trader_dante
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It is under the Australasian Currencies I believe?
Potential ftse breakout
not sure if i got this right but...
2 inside bars forming at 5445 s/r on 1hr tf
triangle forming on 5min tf with price being forced into apex.
i think that suggests a breakout of this range? So will look for some price action to support this further.
Edit - sorry should mentioned that if i am right i would expect this to break to the downside as a continuation of the recent trend.
not sure if i got this right but...
2 inside bars forming at 5445 s/r on 1hr tf
triangle forming on 5min tf with price being forced into apex.
i think that suggests a breakout of this range? So will look for some price action to support this further.
Edit - sorry should mentioned that if i am right i would expect this to break to the downside as a continuation of the recent trend.
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seems as though i got the breakout right - just not the direction😱
I thought a symmetrical triangle meant the break is likely in the continued direction?
which I thought looked down on the 1 hr and daily and 5min?
Geofract
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thanks - yup agree it has been going sideways for a while. still seems to 100 point swings in the channel (5545 - 5445 since 05/08)though.
I can't really answer from a TA point of view as this is all still fairly new to me, I'm afraid. However the recent gains over the bear trend since Nov 07 will be short lived I think. I just have a gut feel that the wheels are going to come off come Sep/Oct (it has often seen bearish activity in this time period).
am tempted to buy some ftse put options, if they are cheap enough
As i say though - just gut feel
if you want to make money - just do the opposite to me:cheesy:
Geofract
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Thanks for your thoughts Simon. I would bet I know less than you, but if it's worth anything, I happen to agree with your opinion. From my point of view, it's nice to know that I'm thinking along similar lines to those who are more experienced than myself.
I went short at 5482, and then changed my mind - should have stuck with it 😕
I went short at 5482, and then changed my mind - should have stuck with it 😕
5482? MA crossover on 5min TF by chance?😉
not to worry plenty more will come round. i lost my bottle on oil this pm and closed for 4 points instead of 250.:whistling
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