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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cwn6161
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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
:smt065

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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cwn6161
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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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cwn6161
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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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