Aliassmith Beats a "Dead Horse"

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aliassmith
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Mon Dec 22, 2014 7:25 pm

Captain Pugwash wrote:Sat and watched this - but I wont trade this week or next

I have not slept too well since your reply to my chart :) not too surprising, eh. But I am observing these areas closely.

Your entry is brilliant - I recognize it from one of your posts on your thread (reading it yesterday) - my brain still cant see it quickly enough - as usual the more I look the better i should get at it

My idea was here - the blue box is fxcm's zone which is different than yours - I think you also use the Sunday candle?

2014-12-22_1718.png


Man _ I am so pleased you started posting again


I looked at your chart. tada!
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Re: Aliassmith Beats a "Dead Horse"

Postby MightyOne » Mon Dec 22, 2014 7:48 pm

The fear, when using a limit order for a stop, is that price will just run away and it will be
as if you never placed a stop.

What you have to remember is that traders are going short at the extreme and most of time
price will:

1. tag their order by a few pips and reverse to their stop
2. BO and move back to their entry + a few pips.
3. reverse and get them out at a small profit.

Most of the time you have 'all day' to get a better exit price.

attached is an example of triggering a limit to close & then
moving it down as needed:
Attachments
EURUSDM15.png
limit to close
EURUSDM15.png (23.55 KiB) Viewed 192 times

aliassmith
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Mon Dec 22, 2014 10:44 pm

aliassmith wrote:Still not sure why I am trading over the Holidays :roll:

Took my space from Friday and planted it on today's EURUSD
Not very productive.


Well I didn't trade after Noon, but I was right...UGH
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EURUSD.M15dec22.3.png
EURUSD.M15dec22.3.png (38.79 KiB) Viewed 192 times
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aliassmith
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Mon Dec 22, 2014 10:57 pm

MightyOne wrote:The fear, when using a limit order for a stop, is that price will just run away and it will be
as if you never placed a stop.

What you have to remember is that traders are going short at the extreme and most of time
price will:

1. tag their order by a few pips and reverse to their stop
2. BO and move back to their entry + a few pips.
3. reverse and get them out at a small profit.

Most of the time you have 'all day' to get a better exit price.

attached is an example of triggering a limit to close & then
moving it down as needed:


I read your chart, yes I had a stop. It was at a 2+ daily extreme
Attachments
EURUSD.Dailypos.png
EURUSD.Dailypos.png (45.46 KiB) Viewed 192 times
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Re: Aliassmith Beats a "Dead Horse"

Postby Captain Pugwash » Mon Dec 22, 2014 11:10 pm

OK, because this new resistance area is drawn differently I would like to ask another Q.

just trying to understand any subtleties in your thinking - thanks Alias



2014-12-22_2303.png
2014-12-22_2303.png (90.12 KiB) Viewed 192 times


I hope i know the answer anyway :)
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Mon Dec 22, 2014 11:15 pm

Captain Pugwash wrote:OK, because this new resistance area is drawn differently I would like to ask another Q.

just trying to understand any subtleties in your thinking - thanks Alias



2014-12-22_2303.png


I hope i know the answer anyway :)


This is the whole premise. If price closes over something and
it is likely that breakout traders entered there then that is
an area of interest for me.

The second piece of the puzzle is how does price react at
that area when it comes back.
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Re: Aliassmith Beats a "Dead Horse"

Postby Captain Pugwash » Mon Dec 22, 2014 11:19 pm

aliassmith wrote:
This is the whole premise. If price closes over something and
it is likely that breakout traders entered there then that is
an area of interest for me.

The second piece of the puzzle is how does price react at
that area when it comes back.


And the reason I am having great difficulty sleeping Happy_Smile


edited the smiley face!
Last edited by Captain Pugwash on Mon Dec 22, 2014 11:27 pm, edited 2 times in total.
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Re: Aliassmith Beats a "Dead Horse"

Postby MightyOne » Mon Dec 22, 2014 11:25 pm

My last post had nothing to do with your trade, it was just an example showing that limits as stops is not as bad as it seems.

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Re: Aliassmith Beats a "Dead Horse"

Postby Libertarian » Tue Dec 23, 2014 2:30 am

aliassmith wrote:
MightyOne wrote:The fear, when using a limit order for a stop, is that price will just run away and it will be
as if you never placed a stop.

What you have to remember is that traders are going short at the extreme and most of time
price will:

1. tag their order by a few pips and reverse to their stop
2. BO and move back to their entry + a few pips.
3. reverse and get them out at a small profit.

Most of the time you have 'all day' to get a better exit price.

attached is an example of triggering a limit to close & then
moving it down as needed:


I read your chart, yes I had a stop. It was at a 2+ daily extreme


See Alias, this is what F&^%$ me up. How is that a 2+ daily extreme? That is just a daily candle. Im am slowly but surely starting to realize that I am missing the extreme. But it seems to me there are 2 different extremes and I'm not sure what the smart people do.There is the extreme a Do What Matters range, but there is also the extreme of a pointy place? Can you shed any light on the validity of how those come into play?

aliassmith
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Re: Aliassmith Beats a "Dead Horse"

Postby aliassmith » Tue Dec 23, 2014 3:02 am

Libertarian wrote:
aliassmith wrote:
MightyOne wrote:The fear, when using a limit order for a stop, is that price will just run away and it will be
as if you never placed a stop.

What you have to remember is that traders are going short at the extreme and most of time
price will:

1. tag their order by a few pips and reverse to their stop
2. BO and move back to their entry + a few pips.
3. reverse and get them out at a small profit.

Most of the time you have 'all day' to get a better exit price.

attached is an example of triggering a limit to close & then
moving it down as needed:


I read your chart, yes I had a stop. It was at a 2+ daily extreme


See Alias, this is what F&^%$ me up. How is that a 2+ daily extreme? That is just a daily candle. Im am slowly but surely starting to realize that I am missing the extreme. But it seems to me there are 2 different extremes and I'm not sure what the smart people do.There is the extreme a Do What Matters range, but there is also the extreme of a pointy place? Can you shed any light on the validity of how those come into play?


Well if you combine the last two truth candles and
forget there are any other candles on the chart, you
will have a high and a low. To me they are both
extremes.
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