Cwn6161's Trading Log

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aliassmith
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Postby aliassmith » Fri Sep 03, 2010 5:04 pm

jarnapal wrote:
Price did several attempts to close over the line. Then it created lower low and the next part is a fact already :)



It's the way I see it. But I have always been a wrong smart-ass here...


I believe you are correct. Maybe when you start to have bad feelings about
the trade or don't know what your next step is, then exit.
Trade Your Way as Long as It Makes Money!

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cwn6161
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Postby cwn6161 » Thu Sep 09, 2010 5:59 pm

Been waiting for a chance to short off of a monthly high for September. Entered in at the red line for .3 lots and 5% risk. Looking to hold until I see a low extreme for the month.

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cwn6161
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Postby cwn6161 » Mon Sep 13, 2010 3:26 pm

cwn6161 wrote:Been waiting for a chance to short off of a monthly high for September. Entered in at the red line for .3 lots and 5% risk. Looking to hold until I see a low extreme for the month.

Image


Stopped out, will wait for another opportunity.

cwn6161
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Postby cwn6161 » Tue Sep 14, 2010 5:15 pm

Since price kept going up, I thought I'd give a shot in the long direction. Waited for a 50% drop in the momo candle, 45 pip stop, .5 lots. Closed out at the close of the new momo candle with about 20% gain :shock:

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I think I'm going to focus on weekly candles from now on, using the open price as a line that I will trade away from.

cwn6161
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Postby cwn6161 » Fri Sep 17, 2010 5:51 pm

Been reading through MOs posts (on page 188 of 200 some) to see if I can figure out some things a little better.

I know I want to shoot for the extremes...daily would be hard for me as I sleep during the time when the first extreme is usually made. Weekly/monthly give me a better shot at catching an extreme and at LEAST holding for the average range of the candle.

I'm still tinkering with ways that I can grab some of the daily range each day. Maybe something that was based off of a portion of the previous days range, that I could set buy/sell stops the night before depending on the direction of the weekly/monthly candles.

Just my thoughts as I wait for a new week.

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cwn6161
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Postby cwn6161 » Mon Sep 20, 2010 3:13 pm

Trading off of the weekly low. I'll now sit on my hands.

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Postby cwn6161 » Wed Sep 22, 2010 2:27 am

Exit for over 17% on a large candle approaching new highs.

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MightyOne
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Postby MightyOne » Wed Sep 22, 2010 2:37 am

Who can complain about +17%? :shock: :lol:

Nice trading!

cwn6161
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Postby cwn6161 » Wed Sep 22, 2010 3:01 am

No complaints here! Just wish it wasn't demo :wink:

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MightyOne
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Postby MightyOne » Wed Sep 22, 2010 3:18 am

cwn6161 wrote:No complaints here! Just wish it wasn't demo :wink:


You know how to change that :wink:

Risk no more than 5% of your account per week and only place a trade when you feel that it would be stupid not to place a trade; there is no point in risking money when you are confused.

Do not tell yourself "all I need is X% a day"

Your needs are irrelevant...

Ask yourself how you can best trade the chart in front of you without external forces guiding your decisions.

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