lukx zline trading log + cfabian p.35 + adaseb p.48

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Fxtraveller
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Postby Fxtraveller » Wed Mar 24, 2010 4:50 pm

adaseb wrote:It was a hunch. Something i've been noticing.

If there was more pullback H1 candles then I probably would of entered there but I didn't think this candle would be it.


Fxtraveller wrote:
adaseb wrote:
Fxtraveller wrote:I HATE IT WHEN MY BROKER DOESNT TAKE MY ORDER BY 1 PIP!!!!! AAARRRG. ITS ONLY 1 PIP DAMMIT! I WILL SWITCH TO A ECN EVENTUALLY!!

The fact I was right doesnt alleviate my grief much =[
But since its been such a push back, im still bullish.

Cheers.

FxT.


I'm pissed off by this trade also, I was 100% sure that it would pullback some more and I would go long there.


adaseb, I put my limit just above the BO point, that can be seen on H1/H4 TF (or any other Below D1 for that matter). To me that was THE place to enter

What kind of approach/ experience made you certain that it would go even lower?

Regards.

FxT



Ah, I agree then. I do like it when the pullback is measured in 2-4 periods/ candles (whatever TF you trade). If there were 3 consecutive bearish candles thus adding a statistical edge to the Buy Trade I would probably triple my normal lot :)
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MightyOne
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Postby MightyOne » Wed Mar 24, 2010 5:50 pm

Image

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adaseb
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Postby adaseb » Wed Mar 24, 2010 5:59 pm

MightyOne wrote:Image

What do you mean by Hedge?

Fxtraveller
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Postby Fxtraveller » Wed Mar 24, 2010 6:07 pm

adaseb wrote:
MightyOne wrote:Image

What do you mean by Hedge?



Hedge = Take profit, but not all of it, i.e. reduce risk by grabbing some money off the table.

-------------

My EJ forecast
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MightyOne
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Postby MightyOne » Wed Mar 24, 2010 6:08 pm

adaseb wrote:
MightyOne wrote:Image

What do you mean by Hedge?


I say "hedge" when I want to make it clear that the next entry (a far less precise entry) is part of the first trade.

Hedge = Exit here and buy back at a better price using your profit as a cushion.

I say "liquidate" when I want to make it clear that the next trade will not be part of the first.

If I didn't say "hedge" then some people would get the idea that it is OK to throw an order in front of train on every trade.

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forexjake80
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Postby forexjake80 » Wed Mar 24, 2010 6:16 pm

mo, whats the reason you liquidate at that point?
It's time to kick ass and chew bubble gum. And I'm all out of gum.

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MightyOne
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Postby MightyOne » Wed Mar 24, 2010 6:32 pm

forexjake80 wrote:mo, whats the reason you liquidate at that point?


I liquidate after momentum and into new highs.

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forexjake80
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Postby forexjake80 » Wed Mar 24, 2010 6:37 pm

sorry, my question was not really precise... Since i just learned what liquidate & hedge actually means :-) :
Why do you liquidate, and not just hedge - why dont you expect the price to continue upwards, while you did before?
It's time to kick ass and chew bubble gum. And I'm all out of gum.

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Jalarupa
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Postby Jalarupa » Wed Mar 24, 2010 6:40 pm

Hey I've been trying to print this thread for offline viewing during office hours, but for some reason it wont allow me to print... Can anyone assist?

It looks like there are some great lessons in here...
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

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MightyOne
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Postby MightyOne » Wed Mar 24, 2010 6:45 pm

Set order types and hot keys to each finger?

How sweet would that be :lol:

http://www.theperegrine.com/product/

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