2009.09.10 DRAIN THE BANKS - LIKE A RAT

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TheRumpledOne
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Postby TheRumpledOne » Thu Aug 11, 2011 2:39 pm

Image

Does this chart make you want to change your answer?

If yes, then what are the reasons?
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Postby rob_deniro » Thu Aug 11, 2011 2:47 pm

Hi TRO, I would have said slighly poorly timed because lots of wicks in that area, but it looks like its breaking into 109... could have been better entry on the pullback into 108.9ish perhaps. Its easier to see in retrospect though without pips flying around in realtime...

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TheRumpledOne
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Postby TheRumpledOne » Thu Aug 11, 2011 4:04 pm

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Was the entry on the current candle well timed?
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Postby Humble » Fri Aug 12, 2011 12:06 am

Neither entry was well timed.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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TheRumpledOne
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Postby TheRumpledOne » Fri Aug 12, 2011 12:34 am

Humble, what are the reasons you say "Neither entry was well timed".
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Postby 1992 DREAM TEAM » Fri Aug 12, 2011 6:03 am

First chart: entry was one bar too late and should have been at the high of the first up candle after the last down candle. The chart after does not make me want to change my answer.

Last chart: need to wait for down candle to close, up candle close , enter long on next up candle at prev high. So way too early or way too late.

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Postby newscalper » Fri Aug 12, 2011 6:57 am

We're looking at the H1 chart but what TF is being used as entry trigger? H1 or less?
Based purely on this chart it like like a stop order set for a breakout of the congestion, ignoring wicks.

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Postby pp2 » Fri Aug 12, 2011 7:13 am

If you're looking for long/medium term long and an optimum entry price, both ill time entries because first top of the range, second was in middle of range

unless the gameplan was a breakout trade entry

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TheRumpledOne
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Postby TheRumpledOne » Fri Aug 12, 2011 2:18 pm

It was a trick question!

Unless you know what the entry trigger is, how can you determine the timing of the entry?

Remember, the (YALE STUDENT) brain will attempt to solve every problem it is given. Don't fall for this trick again!
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Postby wkestler » Fri Aug 12, 2011 6:21 pm

Thanks for your answers regarding my question of DTB for D1 TF i will consider your advice specially now that i have a turnover and my SL was big enough to hurt me!!

TRO can you help me with something... i am a green rat and recently i set a position on D1 and it was activated after passing the high of the last green bar for just 1 pip but after that it all went really down and hit my wide SL. I know losses are part of trading but for higher TF it will be better to set a position to be open H + 5 pips for example instead of just when the high of the previous green bar is touched??

Thanks for your help and advice.

Regards,

Walter

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