Blind Mouse Strategy

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newark18
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Postby newark18 » Thu Jul 29, 2010 7:31 pm

This is the EU trade from earlier. I averaged in and was able to triple up for a total of 3Us and still stay below the retracement point. Right now, I am up 42 pips at 3Us.

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newark18
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Postby newark18 » Thu Jul 29, 2010 7:36 pm

I'm not sure if I should be averaging in using H3 CCs. My guess is that I should use it only for entry and exit but use H12 or D1 CCs to set my average.
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cwn6161
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Postby cwn6161 » Thu Jul 29, 2010 7:46 pm

If you have placed 3 positions with H3 CC, you better use that to get out. Remember, if you've placed more than 2 positions total, you better be in the trade long term.

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Postby MightyOne » Fri Jul 30, 2010 3:05 am

cwn6161 wrote:Still watching my trade on USDCAD. CC hasn't closed above support, so I'm still holding on. The red line represents my SL, which is the same % risk as what I had with my initial position.

I recall MO saying he has a 4.5% dd limit for the week. Assuming he starts with 4.5% risk, he must move his SL in accordance with the additional positions he places on a trade. Is that correct?

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If price doesn't close over a line in the direction of loss then I am not getting out (assuming I haven't decided to exit at an extreme).

4.5% applies to the the first trade heading in a certain direction.

If I were trading short and made a 60% return then I would (possibly) use those profits to resume trading short.

It is when I decide to trade in the opposite direction that I will revert back to extreme caution.

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Postby cwn6161 » Fri Jul 30, 2010 8:47 pm

Exited my USDCAD trade. Long CC compared to others, and price has had trouble closing over this area before. Honestly, this trade was taken from another indi's entrance signal, and I feel that it wasn't a good setup in the first place. I made roughly 12% on this.

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newark18
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Postby newark18 » Mon Aug 02, 2010 2:16 pm

You think I got out a little too early? I should have listened to MO and waited for a large bodied candle.

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Postby newark18 » Mon Aug 02, 2010 2:34 pm

And remember when I was waiting for a rat entry for EJ? Well, so far up 100 pips and looking to average in.

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Postby newark18 » Mon Aug 02, 2010 2:40 pm

And I screwed up my EU trade from last week. I averaged in using a smaller TF than D1 CCs. I guess I should not do that.
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Postby cwn6161 » Mon Aug 02, 2010 5:35 pm

newark18 wrote:You think I got out a little too early? I should have listened to MO and waited for a large bodied candle.

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Didn't you get out at a new high for your TF? If you feel that it's still going to rise, why not enter in on a retrace?

The new long CC presents a potential short opportunity if signs of resistance are shown.

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Postby bredin » Mon Aug 02, 2010 9:43 pm

newark,
for the sake of my sanity, please grab and install the II_Fontpack and make that logo look good :lol:

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