Cwn6161's Trading Log
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I'm getting a couple more ideas in m head when look to enter/exit.
I feel like my lines have not been very good lately, and I thought maybe the new line could be the 50% mark of the previous week's candle. If price does cross that line, then look to take the direction that it moves 75 pips from.
When taking profits, it's clear I should be waiting for candles to close, or else I'm believing the lies of the wick. Perhaps if Wednesdays make a high, I should set a goal of at least reaching that high in the following days. After all, if I think price will go up for the week, getting out on Tuesday or early Wednesday isn't capturing enough of the movement.
Now for next week analysis.
Monthly trend is still up. Weekly shows some indecisiveness however. Because of this, I may only try and "scalp" 5% or so, and wait to see if a new trend forms.
Using my 50% rule on the previous candle is hard when there's a doji, it's kind of anything goes in terms of direction.
I feel like my lines have not been very good lately, and I thought maybe the new line could be the 50% mark of the previous week's candle. If price does cross that line, then look to take the direction that it moves 75 pips from.
When taking profits, it's clear I should be waiting for candles to close, or else I'm believing the lies of the wick. Perhaps if Wednesdays make a high, I should set a goal of at least reaching that high in the following days. After all, if I think price will go up for the week, getting out on Tuesday or early Wednesday isn't capturing enough of the movement.
Now for next week analysis.
Monthly trend is still up. Weekly shows some indecisiveness however. Because of this, I may only try and "scalp" 5% or so, and wait to see if a new trend forms.
Using my 50% rule on the previous candle is hard when there's a doji, it's kind of anything goes in terms of direction.
- TygerKrane
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So,
If the middle of last week's candle {from Wick extreme to Wick extreme} occurs at 1.5000
and this weeks price action makes if up/down to 1.5000
you will be:
waiting to start trading (going Long) at 1.5075
and
waiting to start trading (going Short) at 1.4925
???
Is that what it is?
{Wait for it to move 75pips from the midpoint, then start trading, in the direction away from the midpoint?}
Thanks,
If the middle of last week's candle {from Wick extreme to Wick extreme} occurs at 1.5000
and this weeks price action makes if up/down to 1.5000
you will be:
waiting to start trading (going Long) at 1.5075
and
waiting to start trading (going Short) at 1.4925
???
Is that what it is?
{Wait for it to move 75pips from the midpoint, then start trading, in the direction away from the midpoint?}
Thanks,
**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!
- TygerKrane
- rank: 1000+ posts
- Posts: 1733
- Joined: Mon Jan 25, 2010 3:36 pm
- Reputation: 297
- Location: Long Island, NY
- Gender:
Very clear; clearer than the tears I shed each time I run an account into the ground.
For the doji situation, you might could just divide it into thirds. Like there is a TRO_One_Third_Dots indi for an old trading method MightyOne used to use.
Trading long above the top third, and trading short below the bottom third; of course.
This looks like a breakout-type method you are going for, so can I assume you're NOT using Weekly Crash Zones as targets?
~Krane
For the doji situation, you might could just divide it into thirds. Like there is a TRO_One_Third_Dots indi for an old trading method MightyOne used to use.
Trading long above the top third, and trading short below the bottom third; of course.
This looks like a breakout-type method you are going for, so can I assume you're NOT using Weekly Crash Zones as targets?
~Krane
**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!
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No crash zones, when I did that using demo, I found myself always getting out once the smaller target was hit. Maybe things would be different if I tried it now.
Really I'm just trying to follow the trend, and enter on extremes. The 50% rule is there so I don't go try to go one direction when clearly the market is saying things could turn.
I've been looking at the EU daily chart over and over and over, asking questions and trying to find ways to answer them. Like my chart a few posts ago, i break the days in week period, and each period I look at and say "how would I trade this based off of the answers I know"
Really I'm just trying to follow the trend, and enter on extremes. The 50% rule is there so I don't go try to go one direction when clearly the market is saying things could turn.
I've been looking at the EU daily chart over and over and over, asking questions and trying to find ways to answer them. Like my chart a few posts ago, i break the days in week period, and each period I look at and say "how would I trade this based off of the answers I know"
cwn6161 wrote:No crash zones, when I did that using demo, I found myself always getting out once the smaller target was hit. Maybe things would be different if I tried it now.
Really I'm just trying to follow the trend, and enter on extremes. The 50% rule is there so I don't go try to go one direction when clearly the market is saying things could turn.
I've been looking at the EU daily chart over and over and over, asking questions and trying to find ways to answer them. Like my chart a few posts ago, i break the days in week period, and each period I look at and say "how would I trade this based off of the answers I know"
The trick to using Crash Zones is going for the longer target if there is momo on the weekly and using the shorter target during periods of non-momo.
Stopped out for 4.5% loss. Took the trade as price crossed the 50% mark and dropped 75 pips.
The question is - did I do things correctly and this was just part of the business, or did I interpret something incorrectly? Maybe I shouldn't be entering at all if I see signs of reversals?
I need to work on my patience/emotions.
The question is - did I do things correctly and this was just part of the business, or did I interpret something incorrectly? Maybe I shouldn't be entering at all if I see signs of reversals?
I need to work on my patience/emotions.
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