[Gabe2004]

Had a signal ealier that worked against me.
Had one better later but i did not take it
And now the 3rd signal.

Gabe

[Gabe2004]

Originally Posted by Gabe2004 »

Had a signal ealier that worked against me.
Had one better later but i did not take it
And now the 3rd signal.

Gabe

Moved my stop down and was hit.
On top of that I reversed and went long but chickened out IMMEDIATELY and closed the long.

I am definately not there yet.

Gabe

[forrestang]

Here are my two trades I've got on tonight.

I wanted to take the G/J too, but didn't take it because I didn't want to put on 3 trades after the T.O. I put myself on.

Both trades are kinda iffy, not moving the way I want. Both are really close to resistance, and will need a real B.O., but if they do they should both provide some good 'liquidity' as Kiwi puts it in my direction. Both have quick targets though to possibly capture something. So this thing breaks or it doesn't.

If not I think they are ok based on what I do. The targets are not visible as I can't get enough data on the charts, will update later if I am not stopped out.

[thalestrader]

Originally Posted by forrestang »

Here are my two trades I've got on tonight.

I wanted to take the G/J too, but didn't take it because I didn't want to put on 3 trades after the T.O. I put myself on.

1) Your charts are very difficult to see - it is almost as if they are invisible.

2) What is a "T.O."?

Best Wishes,

Thales

[forrestang]

Originally Posted by thalestrader »

1) Your charts are very difficult to see - it is almost as if they are invisible.

2) What is a "T.O."?

Best Wishes,

Thales

Ooops, my bad

A T.O. is a "TimeOut"..... I put myself on a T.O. because I made that execution error the other day where instead of placing my stop at B.E. the other day, I put it 100 pips higher as I obviously wasn't paying attention...... turning what I wanted to be a B.E. trade into a 100Pip loss!

The two trades where the E/U and G/U. Stopped on E/U, so here is an updated picture of the still live G/U trade. I may have been expecting the B.O., and should have ACTUALLY played the B.O. which would have been higher entries, instead of trying to jump the gun to get aboard soon. Looks like I might eat two stops today...

Like a wise man once said, "I would bet that 90%+ of all trades that were breakeven or losses that are blamed on "false breakouts" are nothing more than a trader trading a test to establish a level's importance, rather than the breakout from a level the significance of which has already been established."

------EDIT------
Yep two full stopouts. Crappy week for me thus far.

[Gabe2004]

Eventhough I don't seem to get back on track, here is my latest trade (GBP/CHF).

Gabe

[Gabe2004]

Price started to retrace so I took a small profit on 1/3 and moved my Stop to BE+ which was hit quickly.

Gabe

[forrestang]

Here are a few questions about the ES for Thales or anyone who has an opinion.

Question1: The gap today was minimal to non-existant. Does this usually invalidate the type of trading you like to do on the ES? If the gap is filled, do you take trades in the direction of the fill, or opposite, just more explanation on that please?

For this next two questions, please see the chart. The left is a 24 hour 15 min for some type of larger view and context.

Question2: As shown on the pic at point 1, there was really no big picture context at that level, but there where two tests to speak of. Is this a trade you would be interested in?

Question3: As shown on the pic at point 2, there is a bit of bigger picture context in that the level was tested 3 times, and also is the RTH high. Does this seem like a trade that makes sense in terms of ES trading? Also do the green targets above make sense? Or would you say this breakout point is a bad location due to the various overhead resistance points?