[forrestang]

Originally Posted by Gabe2004 »

Close 1/3 of the 2nd position just below the point I closed the 1st position but was too slow to close the other 2/3 s,
Actually I moved my stop slightly up (6 pips) but I should have not given back more than 15 of the best level.
As it is, I gave back 45 pips off the lowest level around 22:05 EST.
Overall I should not complain. I made 108 pips on 6 units.(18 pips/unit)

Gabe

I did something similar tonight.

First was not taking the E/J trade that was literally yelling at me to take the trade....Oops.

Second was the G/U, first PO was hit, moved stop to BE at that point. Then I saw that little consolidation area, and put my stop below it. My rules tell me to put the stop to BE like I did after P1 is hit, but then WAIT for a swing to develop to move stop beyond BE. Well, guess what, stopped out to the tic before going on to hit my P2. That's what I get for moving my stop from BE too fast. Oh well, still made money, but there was more on the table.

My G/J is right in front of my P2 though, so that's a guaranteed nicely profitable trade!!!!

This has been an awesome week for us After Hour, Thales' type, B.O. traders, I hope you guys all took advantage!!!

Happy and successful trading to us all!!!!

Forrest

[Gabe2004]

Originally Posted by forrestang »

This has been an awesome week for us After Hour, Thales' type, B.O. traders, I hope you guys all took advantage!!!

Happy and successful trading to us all!!!!

Forrest

I have to say that I owe my recent success and apparent "turning of the corner" to Thales, but I would not characterise my trading as a BO but rather a reactionary method which in many cases is counter trend.

This is because I find that most of the opportunities - for me atleast - are showing up during retracements from SR zones/lines.

Gabe

[thalestrader]

Originally Posted by Gabe2004 »

I have to say that I owe my recent success and apparent "turning of the corner" to Thales, but I would not characterise my trading as a BO but rather a reactionary method which in many cases is counter trend.

There is more than one technical approach that will enable you to take profits out of the market. But none of them will work for you if you don't get your emotions under control. The corner you turned is a psychological one, and not a technical one. You are now letting your profits run while keeping your losses manageable. And you are doing very well at it. Keep it up and keep sharing your charts!

Best Wishes,

Thales

[Gabe2004]

Some trades over night and this morning.
172 pips. 19 pips/unit on average.

Gabe

[Gabe2004]

NO REASON TRADE.
If anything I should have gone long but really it was best to do nothing.
I was bored lost 21 pips per unit (3 units)
Gabe

[Gabe2004]

It is interesting to see how price settles in a certain area over time.....

Gabe

[Dinerotrader]

Looking at the GBP/USD in 3 different time charts - 15 min, hourly, daily
Just curious of your thoughts on trading opportunities after seeing these charts. Here are a couple of my own thoughts.

15 min chart
An interesting pattern recurring. It would seen like a breakout to the upside above the prior high would be reasonable. Maybe a trend line break to the down side would also be a reasonable trade considering how tight that trend has been lately.

Hourly
We finally broke out of that trading range.

Daily
I am not sure if this is just too large a time scale to really give you much edge. Looking at it, I would interpret that we are back in the summer trading range which has a lot of reversals from S/R at either end of the range.

[Dinerotrader]

Originally Posted by Gabe2004 »

I would like to suggest that all questions be posted in the forum so that all of us can learn from the answers.
Gabe

Here is a question I would have PM'd Thales:

How do you make screen time the most productive? It is often suggested that you need to spend a lot of time watching price but you can certainly do a lot of that and end up with very little learning occuring. Just curious of Thales' as well as everyone elses thoughts on this.
My own thoughts would be to that you need to try to guess at interpreting price movement and make a prediction/"anticipatory conjecture" of where it will move based on your interpretation. Then I suppose, you would evaluate how correct you are by watching price and if you were incorrect, you try to determine what you missed or chalk it up to random price movement ()

Let me know your thoughts.