Cwn6161's Trading Log

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Jalarupa
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Postby Jalarupa » Tue Dec 14, 2010 2:56 pm

cwn6161 wrote:Stopped out. What can I learn from this? Last week I was offered 100 pips numerous times, should I have taken what was given me, or was it ok to try and hold for something bigger?

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I'm in the same boat... which brings me back to MO's true teachings... Price closes over a line...?

If not... Then price is moving in the opposite direction.

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Postby cwn6161 » Tue Dec 14, 2010 3:09 pm

Right. Hindsight is 20/20 though. I think if I really want to shoot for 200 pips, I need to be looking to get in at a weekly extreme. My entry wasn't even a daily extreme.

But which direction to look for the week to head? That's where the line comes into place...

I'm bringing my SL down to 20 pips and looking for 5:1 return. I shouldn't need a huge SL to enter correctly.

Currently short EU from 1.3450.

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Postby Jalarupa » Tue Dec 14, 2010 3:24 pm

Nice I'm all in short from 1.34700 :D

Gunning for 1.30 and lower... Image
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

cwn6161
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Postby cwn6161 » Wed Dec 15, 2010 1:27 am

I'm proud of this one.

Saw a previous extreme broken and the CC closed over. That's my line. Wanted to short below that line.

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On the 15 min, I noticed a down momo candle, so I waited for price to come back a bit before entering in. Took this trade for 100 pips!

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Postby cwn6161 » Wed Dec 15, 2010 12:45 pm

I was up early...

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Postby cwn6161 » Wed Dec 15, 2010 5:51 pm

Another 100 pips! Trading with the smallest amount really does wonders for your confidence.

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Postby cwn6161 » Thu Dec 16, 2010 6:41 pm

Not in this, but I thought the channel looked nice. Wonder how long it will last?

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Postby cwn6161 » Fri Dec 17, 2010 3:54 pm

Reminded me of wed.

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Postby TheRumpledOne » Fri Dec 17, 2010 5:47 pm

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Apply the same logic to the daily
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby cwn6161 » Tue Dec 21, 2010 2:26 am

I got greedy and was looking for a 100 pip move, but missed the market telling me to get out. Bottom line is the area I had the opportunity to take profit but didn't. It also marked a great entry point as well.

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