[bathrobe]

Traded later day breakout around 245 est.

[thalestrader]

Hi Folks,

I was out today, but bought 6B (see chart) last nighton a stop while I slept and awoke with a 100 tick profit limit that was hit by morning for +100 ticks. That was some rally all the way around today!

My daughter bought the EURJPY at some point on a break higher, but watched about 1/2 evaporate late in the day. Not a bad day for her though, as she was out most of the day herself. She's geting a bit cocky, as she waited till she was +20 ticks, and then moved her stop to breakeven, and then went out to play with her friends (who can blame her).

She ended up +30 tor so ticks on two microlots.

Best Wishes,

Thales

[thalestrader]

Hi Folks,

I was out today, and no trades for me.

My daughter bought the EURJPY this morning after it tested its overnight low. She used an autotrailing stop so she could play (it is summer vacation, after all). She managed to grab a chunk out of the middle of the EURJPY's subsequent rally, with a profit of $13.69, closing the day at $231.78

I'm considering adding to the account so she can trade a bit more size.

Best Wishes,

Thales

[pimind]

Have not traded much this week, my trading partner my brother took most of the week off, i should have done the same anyway I am down a little over $3,000 ouch!!!!

Thalestrader congrats to your daughter!!!!!

[thalestrader]

Hi Folks,

I was going to post the first chart this morning in the real time thread, but by the time I reproduced it on my machine it had already triggered. Here is my daughter's trade today - Long EURJPY with her anticipated profit targets.
She finishes today up $36.25 and closes the week at $268.03.

I have included the daily run as well as the run for the week 7/13-17. If she keeps this up, she will have found a nice little part-time job for herself.

Well, we have a house full of kids right now and it looks like rain, so we are on our way out to take over a local bowling alley.

Have a great weekend!

Best Wishes,

Thales

[bathrobe]

Great day for me. I included charts for today, bought the breakout of VAH, later faded $TICK, and later day sold at resistance.

[Dinerotrader]

Thales,
This thread seems easy to get back on track so I will ask a quick question using the chart you posted. I noted a few S/R level breakouts that would have appeared reasonable to me if I had been reading the chart in real time and I wondered if you could comment on why you/your daughter didn't trade those breakouts.
I am trying to sharpen my eye for distinquishing between imagined S/R and real S/R and your family seems to have this down pat.
Thanks.

[fxscalper]

Originally Posted by imorgan »

I noted a few S/R level breakouts that would have appeared reasonable to me if I had been reading the chart in real time and I wondered if you could comment on why you/your daughter didn't trade those breakouts.

I am trying to sharpen my eye for distinquishing between imagined S/R and real S/R and your family seems to have this down pat.
Thanks.

Hi imorgan,

My daughter isn't here right now, but here's my take on the areas in question:

#1: I believe she did trade at #1 yesterday morning. In fact, I believe she bought before price rose that high thinking that price would get at least that high and if price didn't breakout above there she'd just close the position. Once price did get through, she set a trailing stop and a profit limit and went away for the day. As I said before, she's getting a bit cocky.

#2: This occurred at 1:45 AM EDT, and thus well past her bedtime. If she starts waking us up to trade the London open, I think she'll lose trading her privileges. And even though this was outside of her hours, I am not sure she would have bought at #2 because the the buy stop would have been less than 7 ticks from the prior night's breakdown price, and thus this is not not a breakout above resistance, but a further push into anticipated resistance. So, the easy answer is she didn't buy #2 because she was asleep. The probable technical answer is that it wasn't a breakout. Also, the more I look at number two, I really don't think I would have had a thought to strike a line and contemplate an entry there. Again, I will ask her later what she thinks, but I would be surprised if she would have bought there.

#3: Very similar to #2 as this occurred at 3:00 AM EDT, and she was, thankfully, still asleep. Technically, also similar to #2 in that it is very close to the bottom of what looks to be a very clear range. She is not here right now, but I will ask her later what she thinks of #2 point and #3. I do know that earlier she and I both agreed that anywhere above but close 131.50-131.60 is a dangerous place to be a seller. To me, this was not a break of support but a bit more sound and fury in the middle of nowhere signifying nothing.

#4: Interestingly she did buy at #4, and I reproduced her chart incorrectly. If it were me, I'd have rather waited for the point I had marked (131.49), but she did buy at 131.42. I'd have rather waited until the high that formed at your #2 had been broken. But right now, she's been doing better than I, so who am I to judge.



I have to run, but I'll try to follow up on this later,

Best Wishes,

Thales