Trading Naked - Part 2
- Thread starter Bloodhound
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mb325
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mb325
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Price just broke the daily high so short order cancelled and looking to go long now. Didn't buy when it broke as there is resistance at 195 from the 12th and also a big round number just above this at 12200. Waiting to see what happens in this zone.
Bloodhound
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For MB
Here's my chart of cable M5 at present. Not looking too hot for a continuation upwards without taking my stop out first but let's see how things go......
Here's my chart of cable M5 at present. Not looking too hot for a continuation upwards without taking my stop out first but let's see how things go......
foredog
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slowly creeping up....
Bloodhound
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And then down....
Bloodhound
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And going up again even more slowly!!
trendie
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hope someones making money today, cos it aint me!
GU choppy, getting whipped with losses. (2 lots) movemetnts quick, and my indicators didnt catch up in time. had chance to bail out at BE, but passed.
EJ short is now borderline BreakEven.
EU short (similar to EJ) now at a small loss.
any have a more positive experience today?
GU choppy, getting whipped with losses. (2 lots) movemetnts quick, and my indicators didnt catch up in time. had chance to bail out at BE, but passed.
EJ short is now borderline BreakEven.
EU short (similar to EJ) now at a small loss.
any have a more positive experience today?
Bloodhound
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FAO Leandro
HI Leandro,
Following on from your question about when I would and wouldn't look to enter a trade based on proximity to a level, here's a good example at the moment.
T4 was my intial entry as it was well set back from the obvious level (the high of the day). As I would have expected there has been a fair amount of resistance at that high which would have made for an uncomfortable ride if I had entered on a break of the green line. As I write this I have added to my T4 long on a break of the high of the day.
Hope this helps
Rob
HI Leandro,
Following on from your question about when I would and wouldn't look to enter a trade based on proximity to a level, here's a good example at the moment.
T4 was my intial entry as it was well set back from the obvious level (the high of the day). As I would have expected there has been a fair amount of resistance at that high which would have made for an uncomfortable ride if I had entered on a break of the green line. As I write this I have added to my T4 long on a break of the high of the day.
Hope this helps
Rob
Bloodhound
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Not a fun day in cableland today IMO Trendie!
foredog
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If you could sit there for about and hour with your position going from +3 to -3 and back again without bailing out at Breakeven you may have made some but it would've been slow progress. Unfortunatey I'm impatient so it was -3 and +0.2 for me this afternoon.
Bloodhound
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traderbrazil
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Thanks!
Thanks, Rob!!!!
It makes a lot of sense... Avoid entry when you have a hunch that a high support/resistance level is approaching. Just play the high probability trades.
One more question - I was looking at higher time frames such as 30min and 1H - which look to be in a uptrend... Before the day started today, were you actually favoring long trades or you don't let that sort of information interfere with your setups in the M5?
THANKS!!!!!
Leandro
Thanks, Rob!!!!
It makes a lot of sense... Avoid entry when you have a hunch that a high support/resistance level is approaching. Just play the high probability trades.
One more question - I was looking at higher time frames such as 30min and 1H - which look to be in a uptrend... Before the day started today, were you actually favoring long trades or you don't let that sort of information interfere with your setups in the M5?
THANKS!!!!!
Leandro
Bloodhound
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Hi Leandro,
Very good question re the higher timeframes. In short, I take absolutely no notice of what they are doing as this is very much about one instrument, one timeframe. The reason I didn't catch the move down was that I was asleep LOL!! In my experience, as soon as I get directional bias things start going wrong. To that end, I never read other's blogs, opinions on forums or anything like that at the start of the trading day in case it influences me. It really is as simple (or meant to be!!) as open the chart, decide on the important levels, watch what price is doing and act accordingly.
All the best
Rob
P.S. I sent you a link at the weekend. If you study what is going on there I think you will find that it's just about looking for moments during the day where price gives a handy hint as to what might be on the way. This morning was picture perfect for me, and a trade I have taken many times. Price moves down through the morning, stalls at a support level from last week, prints a HrL and then starts to move up. Obviously there are never any guarantees but this something that happens a lot.
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traderbrazil
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Thanks once again, Rob!!! 👍
trendie
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a tale of two halves. or two sessions.
glad I split the day into euro-zone and US sessions!
the nasty morning for GU transformed into a trend afternoon.
so, I ended the day null, merely recovering what I lost.
EU was a total loss. (and even now is super-spikey)
EJ finally came out of a small losing position to be in profit.
glad I split the day into euro-zone and US sessions!
the nasty morning for GU transformed into a trend afternoon.
so, I ended the day null, merely recovering what I lost.
EU was a total loss. (and even now is super-spikey)
EJ finally came out of a small losing position to be in profit.
