Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

thalestrader

Reading Charts in Real Time

Recommended Posts

nervously hanging on to shorts in ZN. sold at 28.5, sold at 23.5 looking to sell again if it stops and starts to fall again from here. Stops at the top line.

(while I know I am picking the top in the recent trend, a few signs have made it a reasonable time for me to do so)

Goes directly back to the take profits discussion.... damm I should have bought back, taken profits in the mid teens. Oh well. this was not part of the plan on this one. (plus I went to lunch - giving myself a weekly Friday treat... man it was good :))

 

Thalestrader... do you happen to have a summary of your ideas in a previous thread. .... just to save me searching through countless posts?

zn1.png.fcb12422f10aee37beadbd399283034f.png

Share this post


Link to post
Share on other sites
This style of buy-and-hold and don't touch makes me nervous.

 

With the normal management, both hits the account has taken on the EJ offered what I see as profitable stop-and-reverse opportunties...not only would it have reduced the loss, but would have been net profitable both times.

 

As you know, I've been considering the 'place orders and let it do its thing' approach, but for the time being I'll probably stick the the 'normal' way of managing trades.

 

I understand this is basically an 'experiment,' anyway. Just my :2c:

 

Also, the first entry was far to premature for the expectations I set for the trade. I knew as much to expect at least one new low.

 

The second entry was too late to initiate the position (or at least not as favorable a position as I would have liked. The ideal buy point, had I been following properly, would have been a buy stop 125.35 or 125.65. Had I been paying attention, rather than slacking off sleeping, I would have liked to have bought at 125.35, added at 125.65, and raised the stop to 125.80 on the break above 126.25.

 

So, the results so far have more, in fact, everything to do with poor execution of plan on my part than on the plan itself.

 

For what its worth, my daughter told me to do just as you said I should do on the first trade - stop and reverse. But, I guess it just didn't matter enough to me. Perhaps I shall have to take this more seriously, and only initiate positions when I can do so as I would do in an account that mattered to me. In other words, I guess I should trade it as though my equity depends upon it, and not as though its just a $25 chip I found on the casino floor for a free drop in the slots.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Thalestrader... do you happen to have a summary of your ideas in a previous thread. .... just to save me searching through countless posts?

 

Sorry, DugDug, but this is it. There is a scattering here at TL. I only have one post elsewhere and that was to ask about changing forex brokers back when I was starting with my daughter's trading. Otherwise, everything is in this thread. I have considered putting together a sort of uberpost summarizing some of the more important things I lok at, and then asking James or one of the mods could slip it into a first post position, but I have to write it out first, and I just haven't had the time. Someday and soon, I will put together a summary. However, I kow this has become a "bloated thread," but there is a lot of good stuff in here, not just from me, from many of the thread's participants. So I encourage you to try to slug your way through it over time. I know I have learned alot myself from this thread.

 

Best Wishes,

 

Thales

 

PS I thought maybe daedalus would write the book - if so, daedalus, I promise to be the first to buy it off the presses.

Share this post


Link to post
Share on other sites
...both hits the account has taken on the EJ offered what I see as profitable stop-and-reverse opportunties...

 

Although, on the second position, rather than stopping and reversing, it would have probably been more prudent to pull the EJ and short the EU...

 

With hindsight OR with how the charts looked at the time, I believe the EU would have been the better short opportunity.

EU15M2.jpg.64871f804cec0848ea1c8cd7636f0d5c.jpg

Edited by Cory2679
attached wrong chart

Share this post


Link to post
Share on other sites

Current look at the weekly EURUSD shows the EU about to undo in 10 weeks the price movement it took almost 30 weeks to achieve. Any rally from these levels is likely to resolve itself in a selling opportunity to test the October 2008 lows. I hope that bounce does develop, otherwise I'm going to just have to close my eyes and sell - I would hate to see this thing move down another 20 handles without me.

 

attachment.php?attachmentid=18543&stc=1&d=1264786293

 

 

 

Best Wishes,

 

 

Thales

5aa70fbaee045_2010-01-29EURUSD1.thumb.jpg.695a80a9cc47fc4b9cc01addeeb0b9ad.jpg

Share this post


Link to post
Share on other sites
Looks like someone woke up the Buck.

 

 

I forgot to post the daily dollar yesterday ... this is as of yesterday's cash close, and I will post an updated chart after today's cash close of today's action.

 

Best Wishes,

 

Thales

5aa70fbb8fd47_2010-01-28DXYO2.thumb.jpg.f869b69cd3a2ce0cda4d365280dbb610.jpg

Share this post


Link to post
Share on other sites

stopped out for loss at top level.

 

Continual lesson to ponder:should I have cut earlier at BE of 26, as this popped back through the level with some vengeance?

 

I never really know and usually just see how it goes on the day. I have stopped myself out early plenty of times just to end up being right. I have always figured I am better off loosing a few extra pips than getting off a trade that might make me much more.

 

final thoughts... I will go it again next week if it lines up again.

 

Oh well Friday evening in the UK, I'm off to the pub.

enjoy.

zn1.png.2bb8923d553b2482014b98591ac79c0d.png

Share this post


Link to post
Share on other sites
stopped out for loss at top level.

 

Continual lesson to ponder:should I have cut earlier at BE of 26, as this popped back through the level with some vengeance?

 

Hi DugDug,

 

First, thank you joining us and thank you for posting your charts. One thing that may facilitate discussion of your trades would be if we could se at a glance you entry, stop, and profit targets (if any - more on this in a minute). What we have adopted here as a sort of easy to view short hand is to place a blue line at entry, red line at stop loss, and green line at profit targets. This lets any one of us see at a glance how you had planned the trade, which brings me to the subject of profit targets.

 

If I understand your trade(s) today, you were short from two different points. It looks as though you had some good movement in your favor, and then both positions were stopped for losses. Did you have profit targets? Do you trade with targets? I am not being critical one way or the other - we each have to trade in our own way, and I am just curious if you had a profit objective in mind or not, and if not, how do you manage your stops?

 

Have a great weekend!

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Crude has traded from yesterday's high to within 13 cents of yesterday's low, and it looks like it might be getting close to time to get long of some crude.

 

 

attachment.php?attachmentid=18545&stc=1&d=1264788422

 

Crude finally worked its way to yesterday's low, and rather than giving a long sequence it broke that level and gave a nice short opportunity with a brisk 50+ penny drop.

 

attachment.php?attachmentid=18552&stc=1&d=1264792987

 

Best Wishes,

 

Thales

5aa70fbb9926b_2010-01-29Crude1.thumb.jpg.4ab003328ab70e31a45849254e53f515.jpg

Share this post


Link to post
Share on other sites
yeah, really. I respect those guys more than the paper traders here.

 

I cannot even fathom your motives for posting in this thread then, other than to pad your ego in a way that is apparently only possible through an anonymous internet forum.

 

Why not take this thread off of your subscription list and move on. There is no one making you click on it other than yourself. You are free not to click as well.

 

Thank you,

 

Thales

Share this post


Link to post
Share on other sites
nervously hanging on to shorts in ZN. ...
stopped out for loss at top level.

...

 

Something like this was before my eyes when I wrote about Bund forming a top:

attachment.php?attachmentid=18562&stc=1&d=1264796431

 

There is no exact correlation, but they look similar.

tl-01.png.cd515a97e3c3fe3e299255c6016224c3.png

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • How's about other crypto exchanges? Are all they banned in your country or only Binance?
    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.