[Snow Dog]

Mrs V liked the ej set up better. Was against the 1hr lower close but had 2 x 15 min hammers with vol coming in. Nice hl at extreme moving above the RN, days open D S1 combo.

We got a microsoft warning that internet explorer has stopped working and we were at W M3 so we exited with +26.

Same warning has come up again, 1st time I've ever seen that. NO funny websites or emails opened.

[Snow Dog]

These are the kind of days you love to see wish I got more pips. With the computer problems this morning I went out having some things to do and missed out on this one. A perfect hl continuation on ej. 100% system.

[Snow Dog]

I got asked this question and its an important point.

What I meant was, what level (psych/pivot...) made you take the trade. We had yesterdays high and res. at 529x above.



We didn't take the gu trade, we were watching and I liked it (gu) but we had ej up as we also liked that. Apologies if my post suggested otherwise but I was sure I said we missed the gu trade for the ej set up.

Generally I do not care what psych level/high/res level is coming PROVIDED the set up is right approaching it I'll take the trade. I would have taken the GU trade at 88 if we were not set up on ej.

The reasons why I'll take a trade and that one specifically. A weak bounce from a key level is an indication that it may well fail. The rationale being if the big boys were going to defend you'd see vol and a bigger reaction. I don't know how long trading time it took me to learn this lesson but its served me well. A weak bounce from a key level is an indication it may fail.

On the move you mention Y's high was 96-ish but price was struggling at M3 5281. The first bounce lower was to 5250 after that bounces were to 65 and then 75. Thats a vital clue. See the chart with the arrows up showing the weaker bounces = the higher lows.

When the right circumstances per system develop ie in line with 1hr, 15 min, 5 min hl with set up candles little/no lower wick take it and don't worry what the res level is. Those circumstances above = high prob trade.

Shout if above is not clear.

See post 31 May 2010 Vantage fx

[SunTrader]

Now you are really not going to like me when I say that that little link at the bottom of your most recent post I believe is a no-no per rule# 5 - No promotion allowed. So please remove it or ....

[Snow Dog]

Originally Posted by SunTrader »

Now you are really not going to like me when I say that that little link at the bottom of your most recent post I believe is a no-no per rule# 5 - No promotion allowed. So please remove it or ....

No problem with that at all. I don't see an edit option for that post can the moderators delete the blog reference pls. I can always paste whatever from the blog here. Thanks for the warning, cheers.

[Snow Dog]

There weren't any decent set ups for me so no trades today.

On a different note from the blog:

Poor self discipline is the quickest way to lose money. A good trader with a poor plan will outperform a bad trader with a good plan. IMHO of course.

Have a think about it.

[Snow Dog]

On the same note, again from blog:

Discipline is the bridge between goals and accomplishment.

[Snow Dog]

And finally, for today at least:

You are not gambling, you are trading, this is a business treat it like one. Your job is to take calculated risk. Calculated is the key word, what does your research tell you about your system?

Had a look at this or any other method? Check it out and satisfy yourself that YOU can make it work for you.