another 29 bagged
got out at fake out high from earlier in the day.
There was a HL put in @ 1200, price then tested 16548ish, did you have an order to buy just above here? before price went on to make the 'true' HL on your chart, after which you bought on the break of the subsequent resistance?
urgh,
got chopped to bits this morning then missed the move down as i was taking my son to school, got back thinking nice break down now just wait for the pullback to go short........might be waiting till monday for a pullback from that drop
you are more susceptible to news-spikes on 1-mins, so are more wary of news-times?
the indicators are now out of whack, and will take hour to settle; my weeks over.
On the 1-mins, do you go for a set daily amount?
Or stop before mid-morning chop?
Just thinking, the original move down stopped at y-days lows. But niw has broken that support, which as also previous Res on Oct-20th.
See, the PA analysis works, but still cant sense when it should hold/break!!
done for the week; hope you guys had a good one.
but I can tell from now that its a winner, suits my persoanality and i'll be sticking to it.
Nice on Vinnie - really great to hear it. 'Suits my personality' - so no more speedos then? ;-)
As for me i'm calling it a day, negative for the day but i'm in the wrong frame of mind ( its never a good idea for me to trade after i miss a big move) plus its likely to be choppy now.
You've said it already kite, but one of the great things of this style of trading really is the sheer volume of set ups so I can walk away when i dont feel right or the chart don't look right knowing i can come back to it another time and make pips a plenty.
the really fascinating thing about this thread is how you are trading just GU, and not any other.
also, the fact that your daily returns are a few percentage points of capital at risk.
there is another blog I follow, and the trader takes positions in multiple pairs, risks 30 pips or so per trade, sometimes leaves trades to run overnight, and also manages to achieve a few percentage points return on capital per day. certainly per week.
Similar returns, but different styles.
I think its the intensity of just focussing on 1 pair and trading for just a couple of hours that makes this.
But the flip side, a bad day cant be hedged against other trades, to smooth out the emotions/perceived risk.
fascinating.
the really fascinating thing about this thread is how you are trading just GU, and not any other.
also, the fact that your daily returns are a few percentage points of capital at risk.
there is another blog I follow, and the trader takes positions in multiple pairs, risks 30 pips or so per trade, sometimes leaves trades to run overnight, and also manages to achieve a few percentage points return on capital per day. certainly per week.
Similar returns, but different styles.
I think its the intensity of just focussing on 1 pair and trading for just a couple of hours that makes this.
But the flip side, a bad day cant be hedged against other trades, to smooth out the emotions/perceived risk.
fascinating.
That certainly can be a good idea to take multiple position in different pairs to diversify the risk. But at present I can't even focus on one pair properly and I think knowing one market completely serves the same purpose because you will know when to get out before chop and when to load etc etc.. ( I stand to be corrected).
ATM I just trade GJ and one TF(5min),ok if I was trading higher TF's then yes looking for multiple pairs to get more trades makes sense.
BTW can I ask you which other pairs does he/she from other blog follows mainly and which TF.
Happy Trading..
Paul