Aliassmith Psychology 101 and other stuff

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aliassmith
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Postby aliassmith » Sat Aug 14, 2010 3:31 am

joksa44 wrote:Could you please explain your entry at 109.620. Thanks in advance


The line I marked "1" showed an area of support because price seemed
like it was refusing to go lower.

The candle marked "2" was some momentum compared to the last candle
and it was in a direction I expected because of the action at line "1".

The actual entry was based on a smaller timeframe where a resistance
type zline failed
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joksa44
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Postby joksa44 » Sat Aug 14, 2010 9:40 am

Thanks for your answer! Please, could you show me smaller time frame chart marked with entry points. I tried to figured out 109.620, but i did not see :(
Thank you in advance!

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gfg1
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Postby gfg1 » Sat Aug 14, 2010 12:37 pm

joksa, not to hijack alias' thread, but it looks like a rat entry based on the 15 minute chart with the 9:15 eastern bar closing around 109.60. entry would be on next bar at that point.

Sorry alias for any improper interpretation.

joksa44 wrote:Thanks for your answer! Please, could you show me smaller time frame chart marked with entry points. I tried to figured out 109.620, but i did not see :(
Thank you in advance!

aliassmith
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Postby aliassmith » Sat Aug 14, 2010 1:43 pm

gfg1 wrote:joksa, not to hijack alias' thread, but it looks like a rat entry based on the 15 minute chart with the 9:15 eastern bar closing around 109.60. entry would be on next bar at that point.

Sorry alias for any improper interpretation.

joksa44 wrote:Thanks for your answer! Please, could you show me smaller time frame chart marked with entry points. I tried to figured out 109.620, but i did not see :(
Thank you in advance!


Yes sir, zline failed then black candle, white candle entry. :)
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Postby joksa44 » Sat Aug 14, 2010 3:37 pm

Thanks guys!!

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aliassmith
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Postby aliassmith » Tue Aug 17, 2010 1:55 pm

Ya I figured out my psychological issue I was having. I was being too
greedy with each trade. I forgot to take each trade on it's own merit.

For example this trade I entered long on a breakout after a rejection.
Price moved up and I started to think about where my exit should be.
The upper red line is an extreme. I know extremes are very reactive
so I take profit close to the tops and not get too greedy.

As you can see it did turn around at that point and I would have had to
go back to almost no profit. :shock:
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aliassmith
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Postby aliassmith » Tue Aug 17, 2010 2:20 pm

aliassmith wrote:Ya I figured out my psychological issue I was having. I was being too
greedy with each trade. I forgot to take each trade on it's own merit.

For example this trade I entered long on a breakout after a rejection.
Price moved up and I started to think about where my exit should be.
The upper red line is an extreme. I know extremes are very reactive
so I take profit close to the tops and not get too greedy.

As you can see it did turn around at that point and I would have had to
go back to almost no profit. :shock:


Would have been zeroed out! Instead got a 3:1 return. Think I need
to evaluate reward:risk on each trade more than I was.
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aliassmith
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Postby aliassmith » Fri Aug 20, 2010 1:04 pm

I like when it works and I don't get to greedy. :)
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Postby Brookmyre » Mon Aug 23, 2010 1:37 am

aliassmith wrote:
gfg1 wrote:joksa, not to hijack alias' thread, but it looks like a rat entry based on the 15 minute chart with the 9:15 eastern bar closing around 109.60. entry would be on next bar at that point.

Sorry alias for any improper interpretation.

joksa44 wrote:Thanks for your answer! Please, could you show me smaller time frame chart marked with entry points. I tried to figured out 109.620, but i did not see :(
Thank you in advance!


Yes sir, zline failed then black candle, white candle entry. :)


Hi Alias...I was wondering at what point you consider the zline failing...ie the close over of your bottom orange line? the close over of the previous candle extreme?the close over of the previous candle close? the close over of the 50% of the momo? I reaslise in this example the white candle has closed over all of those lines Im just curious as to if you have a particular line in mind?

TIA
I've learned from my mistakes and I'm sure I can repeat them exactly - Peter Cook

aliassmith
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Postby aliassmith » Mon Aug 23, 2010 1:35 pm

Brookmyre wrote:
aliassmith wrote:
gfg1 wrote:joksa, not to hijack alias' thread, but it looks like a rat entry based on the 15 minute chart with the 9:15 eastern bar closing around 109.60. entry would be on next bar at that point.

Sorry alias for any improper interpretation.

joksa44 wrote:Thanks for your answer! Please, could you show me smaller time frame chart marked with entry points. I tried to figured out 109.620, but i did not see :(
Thank you in advance!


Yes sir, zline failed then black candle, white candle entry. :)


Hi Alias...I was wondering at what point you consider the zline failing...ie the close over of your bottom orange line? the close over of the previous candle extreme?the close over of the previous candle close? the close over of the 50% of the momo? I reaslise in this example the white candle has closed over all of those lines Im just curious as to if you have a particular line in mind?

TIA


Consider the big black candle down zline. A big white candle came back
and closed above and then the small black candle didn't make much of
an attempt to go short so I considered it failed.
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