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

Mystic, my entry is the blue line, stop is the red line and TP's are the green lines. I caught my first TP then it retraced the entire move on the next bar and stopped me out for a BE trade. See updated post above for the entire trade. Brutal!

 

Just as a follow up to the NZD/USD short the attached chart shows how frustrating trading can be.

 

See the stop out by just pips (blue circle) before returning to hit 2nd profit target. In a previous life I would have been furious, but it has happened so many times I am learning to just take it as part of the game.

 

Next!

5aa710686d95f_2011-04-07-TOS_CHARTS.pngNUpostscript.thumb.png.1a9dd6a2da37e602c14e19decfa9e28d.png

Share this post


Link to post
Share on other sites

Looking at this USD/JPY long.

 

I like that it is bouncing off support but don't like the time of day. If it chops around too much longer before breaking out I'll cancel until the Japan open.

5aa710689016e_2011-04-07-TOS_CHARTS.pngUJ15minzoomoutview.thumb.png.21161a047c0b72feb6a3c9902f5f811e.png

5aa7106899f1e_2011-04-07-TOS_CHARTS.pngUJ15min.thumb.png.40bea2a5fa2a3ef0b595a73a63aa93e9.png

Share this post


Link to post
Share on other sites
Looking at this USD/JPY long.

 

I like that it is bouncing off support but don't like the time of day. If it chops around too much longer before breaking out I'll cancel until the Japan open.

 

Took partial profits when it dove back through the big round number of 85.00 and the rest under the breakout swing. This was a BE trade. It had promise for a while though.

5aa71068ac44e_2011-04-07-TOS_CHARTS.pngUJ15minzoomoutview.thumb.png.6ecf6ec6ca0457f07a9324f0d63495a7.png

5aa71068b5780_2011-04-07-TOS_CHARTS.pngUJ15min.thumb.png.5924d7ceb3f30e19d527213ea261b5bf.png

5aa71068beaa0_2011-04-07-TOS_CHARTS.pngUJ15minfinal.thumb.png.c4eeaa9a022e9e8aab668ca539fa631b.png

Share this post


Link to post
Share on other sites
Todds,

 

I mean what prompted you to take the trade? Was it rejection at the line that subsequently became a "Quad" Top?

 

Yes, the quad top, followed by the big down bar and a lower high. It ultimately worked but it was very volatile and I barely got stopped out for a BE trade

Share this post


Link to post
Share on other sites
Potential GBP/USD long...

 

UPDATE: Looking kinda blah...I have to leave my computer for a while, so I'm going to just move my stop to BE and likely get stopped out...but you never know...hopefully I'll be pleasantly surprised when I get back...

5aa71068d99da_GBPUSD(15Min)4_8_2011.jpg.55014d69a044ac39e16fb62bba196e48.jpg

5aa71068de402_GBPUSD(15Min)4_8_20112.jpg.ce1ff831b42896537259fd3b5aceef35.jpg

Share this post


Link to post
Share on other sites
Potential GBP/USD long...

 

UPDATE: Looking kinda blah...I have to leave my computer for a while, so I'm going to just move my stop to BE and likely get stopped out...but you never know...hopefully I'll be pleasantly surprised when I get back...

 

FINAL UPDATE: Took break-even on the trade.

5aa7106925312_GBPUSD(15Min)4_8_2011.jpg.2153e52e675da82a58d35a55b259d95f.jpg

5aa710692948a_GBPUSD(15Min)4_8_20112.jpg.d98f9d05bd75a096a3018e3ae6f9d583.jpg

5aa710692da59_GBPUSD(15Min)4_8_20113.jpg.6f8392ce938ed8f14c8f3e74f8413cd9.jpg

Share this post


Link to post
Share on other sites
... but it has happened so many times I am learning to just take it as part of the game.

 

Next!

 

If you have a 1R 1st PT and a -1R initial stop, and if the above scenario happens with high frequency, perhaps you ought to consider changing your plan so that you do not move your stop to BE after PT 1, assuming you are taking half at a 1R PT1 and leaving half for a 1+R PT2.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
If you have a 1R 1st PT and a -1R initial stop, and if the above scenario happens with high frequency, perhaps you ought to consider changing your plan so that you do not move your stop to BE after PT 1, assuming you are taking half at a 1R PT1 and leaving half for a 1+R PT2.

 

Best Wishes,

 

Thales

 

Wow, after reading the 500+ pages of this thread I have anticipated this day! Thank you Thales for taking the time to read and comment on my trades and thank you for all the guidance and information you have provided in this thread. It has opened whole new worlds in my trading.

 

I have been trading for a while and am essentially a break even trader to this point. I look at this as a minor victory considering the number of live trades taken over the past year, but I am ready to move to the next level. Your set-up and trade story ideas have helped a great deal, along with the things DB teaches on the Wyckoff forum and other price action threads I have been studying. I was especially pleased to read your thoughts on initial trade management and how you rarely let a trade take you out at full stop. I used to get very frustrated with BE trades and your ideas have allowed me to give myself permission to cut a trade loose at BE or even slightly negative and look for the next one without getting frustrated. Having said that I do feel that moving from a BE trader to a winning trader will have a lot to do with trade management. I guess it could be said that I am not a consistently winning trader because of trade management but I am also not a consistently losing trader because of trade management.

 

As regards to the particular trade in question I can sleep well with how it was managed. Moving the stop to just behind that big down bar seemed right to me. It was cruel for it to come all the way back on the next bar. The comment about getting nicked by one pip was more of a general lament about how ironic trading can be. Hasn't this happened to all of us a million times, lol?

 

Thanks again for your input and I hope you come back often!

 

Todd

Share this post


Link to post
Share on other sites

thales and everyone,

 

I just began reading this thread this morning. I plan to work my way through it (as well as some of db's nice stuff) this week as I get a chance to read it in between trading. Right now I'm on page 20 of 592 so I have a way to go :) But, I wanted to thank thales and everyone else who has contributed, I've gotten a great refresher and sorely needed shot of "KISS" while reading it. Thanks for keeping me sane. I hope to post some setups here too as I see them. Thales, if you and anyone else would be kind enough to critique my setups and trades, I'd be most grateful.

 

~josh

Share this post


Link to post
Share on other sites

Here are my levels for tomorrow for TF. Currently we're at 838.7, and I will be looking for shorts at either 842 or 845, or longs at 836, depending on price at those levels. I'm guessing overnight price will meander towards one of those areas and I'll examine things in the morning.

tflevels.thumb.PNG.9dccffe357ed29e9b2258f0d20d23f7b.PNG

Share this post


Link to post
Share on other sites
Current look @ G/U and E/U. Will see what develops in a bit with these two trading ranges here.

 

Currently short GU. Stop currently a bit above, if this winds up consolidating into a bull wedge though, will reverse if necessary later. But so far willing to sit through a bit of volatility.

 

If trade continues, will add if chance arrives.

attachment.php?attachmentid=24150&stc=1&d=1302506295

 

--------------UPDATE 2:30CST---------------------------------------------

Still no real retracement yet, but adjusting stop to 1.6363 reducing initial risk by about half.

attachment.php?attachmentid=24151&stc=1&d=1302507113

Prime2011-04-11_020749.thumb.jpg.81ff58fe2db61260b78bb118250ba0c4.jpg

Prime2011-04-11_023025.thumb.jpg.d00aedfe39e849754986b976e569c5c9.jpg

Edited by forrestang

Share this post


Link to post
Share on other sites
Currently short GU.......

 

--------------UPDATE 2:30CST---------------------------------------------

Still no real retracement yet, but adjusting stop to 1.6363 reducing initial risk by about half.

 

Looks like my stop was violated. Currently just a tad violated. There was that support below and that OS line down there that provided a bounce.

 

So will just be waiting for a bit. Might just have some consolidation for a while after all that movement during the end of last week. But still two pretty nice ranges so far. I'll be waiting for some movement out of it to get some action.

Prime2011-04-11_064737.thumb.jpg.af4c9c0fec404b531959d70555b56e32.jpg

Share this post


Link to post
Share on other sites
nimbletrader - that would make a catchy handle, don't you think?

 

Best Wishes,

 

Thales

 

Why didn't I think of that?...17 months ago?

 

Oh well...Cory2679's not so bad...

 

Did you know 2679 spells "Cory" on a traditional phone number pad?

 

2679 is the last 4 digits of my cell phone number..."###-Cory" :D

Share this post


Link to post
Share on other sites

Looks like a possible Trend Change to downside of current range. Again, will add or reverse if necessary. Will look to adjust stop on reaction.

 

attachment.php?attachmentid=24153&stc=1&d=1302526338

 

 

----------UPDATE 8:11CST-----------------------------------------------

Possible scenarios I'm watching.

 

For EU, currently bidding on a breakdown. But could bounce off of support and complete this bull wedge or whatever this thing is with some strength to upside. Or we could just consolidate for a while.

 

For GU, like Cory has, could break out of this channel with some vigor to upside.

 

attachment.php?attachmentid=24155&stc=1&d=1302527585

Prime2011-04-11_074937.thumb.jpg.7919f0a4dc76ea572005e4759cdeacfc.jpg

EGU_Current1.thumb.jpg.a8cdd1103ddfe89f1a5b1cd98a1ac7e1.jpg

Edited by forrestang

Share this post


Link to post
Share on other sites
Potential GU long...

 

UPDATE: That's close enough...moving stop to break-even...

 

UPDATE 2: Stop moved up a little...

 

UPDATE 3: PT1 filled...waiting on PT2...I'm moving my stop on the second half back to break-even...

5aa7106a75092_GBPUSD(15Min)4_11_2011.jpg.125c6308d087e7922fc5ffc7e7775850.jpg

5aa7106a79854_GBPUSD(15Min)4_11_20112.jpg.b3ebb71ed0d29477e1a4f929fc8a80a5.jpg

5aa7106a7ded4_GBPUSD(15Min)4_11_20113.jpg.c5191fa6db2d64d558a2ce132d7add40.jpg

5aa7106a8e6da_GBPUSD(15Min)4_11_20114.jpg.06ac2ae0590555025e310cf1cfa3432a.jpg

Edited by Cory2679

Share this post


Link to post
Share on other sites

Great trade, BUT, when I tried to place the order on my live account I found out, as I have not actually traded TF live before, that I'm not on the ICE exchange, and am waiting confirmation to place trades on it. I have the data from my broker, but I have only placed CME trades. So, I took the trade on sim, a great trade, took off 2.5 points, in the money on the 2nd lot, and waiting for TP or stop hit on the 2nd unit.

 

VERY frustrating yet very good on the other hand I suppose :) My original buy limit was aggressive at 835.4, only ONE tick from the bottom ... arg :)

 

EDIT: 2nd contract closed for +2.3 points. So, +4.8 points all together.

 

EDIT 2: Something I can learn from this--not a good stop loss placement, as my stop on the remaining contract was taken out by 2 ticks and now it's broken through the consolidation and moved higher... I suppose with the speed of the move up it was due for at least some retrace. A better placement would have been 837.6, as I more closely examine my tick chart... right below the little consolidation on the move up. Good learning experience. I would be a little more aggressive and move the stop up to 839 at this point though, as it's below the big area of consolidation we just broke through.

tf1.thumb.PNG.d5e2f9e853e6ad8935a33c778b971bb0.PNG

Edited by joshdance

Share this post


Link to post
Share on other sites
Potential GU long...

 

UPDATE: That's close enough...moving stop to break-even...

 

UPDATE 2: Stop moved up a little...

 

UPDATE 3: PT1 filled...waiting on PT2...I'm moving my stop on the second half back to break-even...

 

FINAL UPDATE: Break-even on the second half.

5aa7106a9e4fa_GBPUSD(15Min)4_11_2011.jpg.ef3895323287a29d8f3bfb3411d7f137.jpg

5aa7106aa3e90_GBPUSD(15Min)4_11_20112.jpg.9df2bbb86eb9e2ee350fecdd9c9c3fa1.jpg

5aa7106aa8656_GBPUSD(15Min)4_11_20113.jpg.d2331b26b1326aa732b7cc30433c586b.jpg

5aa7106aacace_GBPUSD(15Min)4_11_20114.jpg.aaef55de8d8de6a0f3701c1eb5b1d5e6.jpg

5aa7106ab12ee_GBPUSD(15Min)4_11_20115.jpg.a60c8c509bc5495f076d88a70f92caa4.jpg

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

    • MNST Monster Beverage stock, top of range breakout above 60.45, from Stocks to Watch at https://stockconsultant.com/?MNST
    • 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. 
    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
×
×
  • Create New...

Important Information

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