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thalestrader

Reading Charts in Real Time

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Talking about similiar/identical situations makes me think of the Paul Tudor Jones movie, "Trader," and the correlation between the 1980's charts and the 1920's charts...over 90% correlation. Crazy.

 

I've been lucky enough to meet PTJ via video conference, by the way! :D

 

:cool:

Send me an autograph. :)

I am looking for that video now

 

Gabe

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Or the people on the minus side are not posting....

 

 

You are probably right.

Why don't you come back and give it a try for another 2-3 weeks.

Thales said in two of his posts to me that I am really close only to lose 1/3 of my account.

I am sure I am close and these are just minor setbacks.

We have a great family here (and just like in any family we have disagreements and friction) but I'd rather be in my family which I know and most of the time I feel good there, than somewhere else alone.

 

Gabe

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Here is how we managed our missed entry. As I said, we bought at market and the fill was 1.65429. We then added twice as price moved in our favor. We now have three positions with an average buy of 1.65494, with a stop on each at 1.6560. We have PT1 limits on the two "first-in" positions at 1.6590, with a limit on the third position at 1.6645.

 

Best Wishes,

 

Thales

 

I'd be curious to know how you were adjusting your stop loss after each add. Actually, now that I re-read your post about entering at 1.65429, it doesn't mention where your stop loss was. Could you expand on how you initially placed your stop when the market is running away from you and how you altered that stop on each successive add? Thanks.

 

With kind regards,

MK

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For example, if one of those trades that Thales posted as "trying to get a loser" was a loser, you might say "Oh, that was a loser BECAUSE OF such and such on that chart, and I won't take a trade like that.", when really it may have been just fine to get into.

 

Just to be clear, I am not going to post a flawed opportunity in order to post a losing trade.

 

Losing trades are inevitable.

 

I have posted losing efforts here in this thread, and I will continue to do so.

 

Today I posted two opportunities. I thought the GU was a good long opportunity (if triggered), and I thought the EJ short that I posted was a good short opportunity (if triggered). The GU long triggered, and the EJ short did not. And the trade that triggered turned out to be a winning effort. I posted each opportunity prior to the entry being triggered.

 

I am not "cherry picking" after the fact trades to post here. Except for when I post an historical trade to make a point, I do not post opportunities unless I can do so prior to entry triggering, or soon thereafter in terms of both time and price. This thread is about reading price in real time. I cannot predict which opportunities will not trigger and which will trigger, and of those that do trigger, I cannot predict before hand which will result in a loss, which in a win, and which will be break even efforts.

 

So, when I say I'm trying to get a losing trade for Don, I mean to convey the notion that all a losing trade is to me is an opportunity that did not move in my favor, and it will happen eventually, and soon no doubt, so long as I keep taking my swings.

 

Best Wishes,

 

Thales

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Stopped at 1.6449 so +26.1 and +25 = +25.5 more or less. Not a bad afternoon.

My only disappointment is that I was hoping for a losing trade per Don's request as I am very curious to find out why he requested, specifically, a losing trade.

 

Best Wishes,

Thales

 

:applaud: I hope all your trades are winners.

 

 

Don

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I'd be curious to know how you were adjusting your stop loss after each add. Actually, now that I re-read your post about entering at 1.65429, it doesn't mention where your stop loss was. Could you expand on how you initially placed your stop when the market is running away from you and how you altered that stop on each successive add? Thanks.

 

With kind regards,

MK

 

We have a 10 tick stop defaulted on the double click entry orders. So, on the initial entry, and each subsequent entry (all market orders), there was an initial ten tick stop. After that, I think you can follow the posts to see where the stop was trailed.

 

Best Wishes,

 

Thales

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You are probably right.

Why don't you come back and give it a try for another 2-3 weeks.

 

Hi Gabe,

 

I'm still around, but I just don't have a need in posting my short comings day after day. I'm sorry to disappoint the posters at TL that only like to comment when a person is in pain.

 

Congratulations on a solid days trade.

 

With kind regards,

MK

Edited by MidKnight

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Hi Gabe,

 

I'm still around, but I just don't have a need in posting my short comings day after day. I'm sorry to disappoint the posters at TL that only like to comment when a person is in pain.

 

Congratulations on a solid days trade.

 

With kind regards,

MK

 

I am not sure what you meant by "comment when a person is in pain" but if it was a sarcastic remark I doubt that you are right.

I believe that most of us here would sniff out such people and soon enough they would be gone from this thread.

Just to clarify.

My trades today were not real. Not even paper.

They were an excersize in following the rules.

Within the next few days, I will enter some trades in my real account.

BTW all the trades that I have posted that have triangles and squares in them were with real $. Not alot but real nevertheless.

 

Bottom line - it's good that you are still here.

Gabe

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Stopped out.

Would have made 2x16 pips had this been a real trade.

 

Gabe

 

Moved my stop too fast but at the time it looked like a good idea.

Should have kept it where it is now.

Again - I would have been out of this trade. Look at the post refferenced above.

 

Gabe

 

PS the stop should have been moved after the firts target was hit (in hind sight)

EJ_Nov_30_2009_15min-20.thumb.png.c2bc990b05d866a36529775d5bb2db60.png

EJ_Nov_30_2009_15min-21.thumb.png.a734c7df21e7aef3c6eb4ad25c4676f6.png

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Or the people on the minus side are not posting....

 

If you are struggling to learn it, do not struggle alone. Speak up! Help is right here, and it won't cost you anything but to raise your hand and ask for it.

 

If we can't hear you, we can't help you.

 

Best Wishes,

 

Thales

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I'm sorry to disappoint the posters at TL that only like to comment when a person is in pain.

 

I didn't get the sense that anyone was relishing in your pain or the pain of anyone else, for that matter. This has struck me as rather positive and supportive bunck of folks, as a matter of fact. What happened here that made you feel as you do?

 

Best Wishes,

 

Thales

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Ok Thales, Maybe I should give your system a honest try. I truly dont believe that I was knocking it but I have never had much luck with stops. I want everybody to know that I will be using a demo on a 5min timeframe. And that I will only be trading eu. So with that said here is my first trade.

 

eu8.thumb.jpg.b6b18d04817679b5c73fc430143a275c.jpg

 

eu9.thumb.jpg.cd2f70b6b228893844a80ab12416e2eb.jpg

 

Don

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Ok Thales, Maybe I should give your system a honest try. I truly dont believe that I was knocking it but I have never had much luck with stops. I want everybody to know that I will be using a demo on a 5min timeframe. And that I will only be trading eu. So with that said here is my first trade.

 

 

I didn't say you were knocking it. I just thought that your request that I post a losing trade somewhat off the mark. After all, if I am posting the trades either before the entry triggers or soon thereafter, how can I determine before the trade is over whether or not I am posting a losing trade or a winning trade?

 

Best Wishes,

 

Thales

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I didn't say you were knocking it. I just thought that your request that I post a losing trade somewhat off the mark. After all, if I am posting the trades either before the entry triggers or soon thereafter, how can I determine before the trade is over whether or not I am posting a losing trade or a winning trade?

 

Best Wishes,

 

Thales

 

You cant, but I will soon see. So how much of a move would you wait till the next trade. 50-100pips. Is that about right?

 

Thanks

Don

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:cool:

Send me an autograph. :)

I am looking for that video now

 

Gabe

 

I'm sure you may have already found it, but here's a link to a site that's showing it I found on TL...

 

Trader -Paul Tudor Jones_ÔÚÏßÊÓƵ¹Û¿´_ÍÁ¶¹ÍøÊÓƵ 45

 

Anyone who hasn't seen it should watch it. Really cool. *EDIT: Mostly for entertainment/motivational purposes...it doesn't really teach you how to trade or anything...

 

*EDIT: For anyone who might not be familiar with PTJ, he's well known for his prediction of the 1987 market crash, and he talks about it in the video (this video was before the crash)...it's part of what's cool about the video...

 

-Cory

Edited by Cory2679

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Just to be clear, I am not going to post a flawed opportunity in order to post a losing trade.

 

Oh yes, I know. That was never unclear. :)

 

I sort of took it as a little bit of a joke when you kept saying you were trying for a losing trade.

 

-Cory

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