[Don4]

This is how I enter a postion.



Thanks
Don

[Marko23]

Short triggered with FDAX

[Gabe2004]

Originally Posted by snowbird »

Don,

Also like the clean picture!!.... but would be even more interested in how you select your entries. They all follow the H/L/HL or L/H/LH of a "Thales trade", but you often select just one candle as the last HL or LH... or sometimes two candles with tails, rarely more.

I've noticed this not just on the recent chart posted, but on previous real time charts you've posted here as well.

snowbird

BTW it is H-L-LH and L-H-HL. (like a mirror image)

Gabe

[Marko23]

Originally Posted by Marko23 »

Short triggered with FDAX

Short stopped at B/E.

[thalestrader]

Originally Posted by thalestrader »

Here is a look at the current GBPUSD. I'm turning in for the night, but I'll be interested to see where this thing is trading come morning. Both long and short could be worth a shot. The short side looks like a better R/R with bigger targets and more room to run. Of course, that means the short will probably trigger, immediately price will reverse and go on a 400 point rally. Well, we'll see come morning.

Hi Folks,

Well, I was right in that the short side looked better. In fact, it was the long side that triggered and immediately reversed to take out a -40 but the short triggered and hit the +100 PT1. Took the second 50% off just now at 1.6377 as price has triggered a long ("dance with the one that brung ya', and go home with her to," as my old Texas trading buddy always told me).

Final result for a night of sleep = -40 (100%) + 100(50%) + 91(50%) = -40 + (191/2) = -40 + 95.5 = +55.5 ticks.

The potential long was enough to take me out, but I did not outright reverse. There will be other opportunities later today.

I'll be back closer to the NY open.

Best Wishes,

Thales

[traderbrazil]

Originally Posted by thalestrader »

Hi Folks,

Well, I was right in that the short side looked better. In fact, it was the long side that triggered and immediately reversed to take out a -40 but the short triggered and hit the +100 PT1. Took the second 50% off just now at 1.6377 as price has triggered a long ("dance with the one that brung ya', and go home with her to," as my old Texas trading buddy always told me).

Final result for a night of sleep = -40 (100%) + 100(50%) + 91(50%) = -40 + (191/2) = -40 + 95.5 = +55.5 ticks.

The potential long was enough to take me out, but I did not outright reverse. There will be other opportunities later today.

I'll be back closer to the NY open.

Best Wishes,

Thales

Good morning, Thales!

On December 30th GBP/USD had a low swing at 1.6374 which I thought was a reasonable PT1 for this trade. Could you please explain how you set up your targets for this trade?

Many thanks!!!!
Leandro

[Marko23]

The b/e stop prevented a loss.

New opportunities on either side

[thalestrader]

Originally Posted by traderbrazil »

On December 30th GBP/USD had a low swing at 1.6374 which I thought was a reasonable PT1 for this trade. Could you please explain how you set up your targets for this trade?

There was nothing wrong with your profit target. As I have said before, I use S/R zones to give me an idea of where price is heading for my profit targets, and then I use fib's to tighten where I want to place my order. If no significant fib levels exist (a rarity) I will simple place my PT just above the midpoint of what I see as a zone of S/R. My PT was only 6 ticks below yours. You cannot seriously be concerned over a 6 tick difference!

Best Wishes,

Thales