[zt379]

Originally Posted by thalestrader »

Here is where I stand: PT1 on each entry is filled for +27 ticks and +32 ticks respectively. I have stops at entry 1 PT1 and Entry 2 Break even level.



Best Wishes,

Thales

Thales.
Many thx for the contribution here.
Question if I may to help me understand things.

Your long trades (post#3413).
You went long at the dashed blue line?
and then again at the solid blue line?
Moved the blue dashed entry stop as per the red dashed line?

Then you moved solid blue long stop to BE (red solid line)?
Your red dashed stop was then hit?
Your solid red stop was then hit?
And then post# 3439 was a set up for a new trade long?

Many thx

[Cory2679]

Originally Posted by Cory2679 »

Maybe a potential short. Price sure has stopped/slowed down, though.

I'm getting impatient...I've moved my stop pretty tight...either it's going to drop or I'm out for a medium-sized loss...

[thalestrader]

Originally Posted by zt379 »

... Your solid red stop was then hit?
And then post# 3439 was a set up for a new trade long?

Many thx

Yes to all your questions except that I did close the second long for +5 ticks - I closed the longs when Cory went short. I did not short the 6B, but PA was sufficient to get me flat.

And yes, the 3439 is a new long. Not going so well right now, and I have a -21 stop loss on it right now (entry 83, stop loss 62. Right now there is only 6-7 ticks between me and a -21 loss on the whole position.

Best Wishes,

Thales

[Cory2679]

Originally Posted by thalestrader »

These are the trades I find most uncomfortable - when you are stopped in and price goes from an immediate +6 or so to -6 in the blink of an eye. This is when I start thinking, and when I think, I usually do the wrong thing.

I was in this, but just pulled out for BE when it gave me the chance...

...not that the trade isn't legitimate, it's just that it's getting late...

I'm still in the UJ for now...waiting for this trade to make or break my day...

[thalestrader]

Originally Posted by thalestrader »

And yes, the 3439 is a new long. Not going so well right now, and I have a -21 stop loss on it right now (entry 83, stop loss 62. Right now there is only 6-7 ticks between me and a -21 loss on the whole position.

Best Wishes,

Thales

Late post as I got caught on the phone, but I gave up on 6B for -7.

Looks like it would have been a decent short. Who knew? Anyone? Not me.

Best Wishes,

Thales

[zt379]

Originally Posted by thalestrader »

Yes to all your questions except that I did close the second long for +5 ticks - I closed the longs when Cory went short. I did not short the 6B, but PA was sufficient to get me flat.

And yes, the 3439 is a new long. Not going so well right now, and I have a -21 stop loss on it right now (entry 83, stop loss 62. Right now there is only 6-7 ticks between me and a -21 loss on the whole position.

Best Wishes,

Thales

Thx for taking the time to reply and explain so quickly.
I'm finding PT1's are being reached consistently.
Managing the trade in terms of PT2 and PT3 is an issue for me.
At these times they often conflict with seeing contrary trades.

How can I best explain what I want to say here?
Is it more a matter of determining what's been referred to as the "degree" of a move?
ie: the contrary trade we see may be a retrace trade within the larger move we are in.
Such that we would decide to sit through it, all be it taking the "chance" that the original (or adjusted) stop is hit, in order to stay in for Pt2 and PT3?
Or close out everything and re-set the machine, so to speak?

In terms of every new trend starting with a 123. I'm trying to learn how best to approach this, assuming I've explained it.

Appreciate your thoughts when ever you have time.
I've read through the thread so apologies in advance if this has been covered before.
Thx

[Beachtrader]

Stopped out of this!

[Cory2679]

Originally Posted by Beachtrader »

Stopped out of this!

Price has come within 0.1 tick of stopping me out of the same trade, but hasn't yet! (my stop is on the same place on the chart as yours, but must be very slightly higher---my stop is at 91.158...the ask has gotten up to 91.157)

That'd be so funny if somehow this turned around got to profit after that. Somehow I doubt it, though!