lukx zline trading log + cfabian p.35 + adaseb p.48

[MightyOne]

unfortunately i had another loser.





was that too early? h4 didn't close lower than the low. h1 neither.

edit: hmm, or was it because h4 made a new low before?

[jarnapal]

unfortunately i had another loser.





was that too early? h4 didn't close lower than the low. h1 neither.

edit: hmm, or was it because h4 made a new low before?

[poipen]

Haven't posted in a while
but i have a quick question for you fella's using MB trading, which platform do you guys use?
seeing as they have a smorgasbord of software available i figured id inquire here

[pablo101]

unfortunately i had another loser.





was that too early? h4 didn't close lower than the low. h1 neither.

edit: hmm, or was it because h4 made a new low before?

I wouldn't have taken the long there, I would want to see a test of some kind of pivot before I decide an entry which is what happened 90 mins after your initial entry.

[jarnapal]

unfortunately i had another loser.





was that too early? h4 didn't close lower than the low. h1 neither.

edit: hmm, or was it because h4 made a new low before?

I wouldn't have taken the long there, I would want to see a test of some kind of pivot before I decide an entry which is what happened 90 mins after your initial entry.

Dozen pages back there's Dragon showing how well railway patterns work. There was a railway patter after your entry. Should have gotten out there with be.

[Braathen]

unfortunately i had another loser.





was that too early? h4 didn't close lower than the low. h1 neither.

edit: hmm, or was it because h4 made a new low before?

LOL! i litrally shat myself on that.... hahaha

[Pro Trader]

EJ Short

Wicks at H1 open+close of opposite coloured candles.
Wicked 15m zline
H1 closed below 50% of the red H1.

Took the 15m Red rat short targeting support line below

[bohsen]

Hey guys, my first post on this forum. I am also a Dragon trader.. trying to be at least .. one day

cfabian and flex, I also had a long bias on Friday morning (GMT) due to that massive H1 momo and took two full stops (2nd on re-entry) which took me the weekend to get over and figure out what happened:

1. The supply / resistance zone is created on 12 August in the upper 56 area. Railtracks indicate institutional order flow: big sell order inventory resting here.

2. Price is strongly rejects this area in the 1st test - shows this is a strong level and there are still tons of sellers (Are you guys familiar with the Sam Seiden school of thought?).

3. Price puts in a double top on 16 and 17 August & creates clean H1 supply level (grey). Lots of wickdolls indicating strong selling pressure still.

4. In the 4th test price puts in yet another strong departure & a pretty 15min supply level.

5. The 5th test is key here and shows the quality of the new 15min level: price only just dips in and drops away very quickly yet again. This is where TRO went short

6. Finally, there was a highter timeframe demand level just below the current price level acting as a magnet. Price had been trying to get there all week.

... and we were trying to buy this thing in the middle of nowhere!


So I think the mistake was that we were buying at a level where supply objectively exceeded demand. This is Sam Seiden's amateur mistake Nr 2. Mistake Nr 1 is *emotionally* buying after price has already rallied.

Of course this is all beautifully obvious in hindsight + I am probably overanalysing, but I had to write it all down to get over those stop outs.

I hope this helps somebody?!:roll:

[TheRumpledOne]

unfortunately i had another loser.





was that too early? h4 didn't close lower than the low. h1 neither.

edit: hmm, or was it because h4 made a new low before?

Looks like you were up 20 pips on the RAT entry.

But you failed to follow rule #6:

6) Take whatever profit you can.

[noushina]

I think Stratman's comment about how people let a winner turn into a loser fits nicely:

"Approx 50% of [my] trades will be exited around plus 2-6 pips. These are the trades that most people likely lose on because they allow them to reverse and hit a large stop. It's much better having 3 x +2 pips than 3 x -10 pips"