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

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lukx
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Postby lukx » Tue Aug 10, 2010 10:26 am

dragon33 wrote:
lukx wrote:
dragon33 wrote:
lukx wrote:AHA!


Sounds like a bel is ringing :D


guess not :(

Image


Why is that red zone there!!!


hmm..
you also had red zone you traded into so...
Image

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pablo101
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Postby pablo101 » Tue Aug 10, 2010 11:08 am

lukx wrote:
dragon33 wrote:
lukx wrote:AHA!


Sounds like a bel is ringing :D


guess not :(

Image


so you entered long when the overall picture is down? I dunno what to say here ... [-X

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dragon33
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Postby dragon33 » Tue Aug 10, 2010 11:12 am

lukx wrote:
dragon33 wrote:
lukx wrote:
dragon33 wrote:
lukx wrote:AHA!


Sounds like a bel is ringing :D


guess not :(

Image


Why is that red zone there!!!


hmm..
you also had red zone you traded into so...
Image


In my case there where at least 20 pips to take in yours case 8- spread???
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!

scheeco
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Postby scheeco » Tue Aug 10, 2010 11:53 am

lukx wrote:
dragon33 wrote:
lukx wrote:AHA!


Sounds like a bel is ringing :D


guess not :(

Image

Hi Lukx,
Ok I have an arse end understanding of forex.
But consider this for a second.
Take of every single indicator on the chart above apart from the semophore one..ok what do you see?
What do those 1 sema candles tell you?
Do you think they are shouting something at you if there are a total of 4 of them with wicks to the upside?
They tell me that price is unwilling to pass that level - 4 rejections in a short time frame.

Now looking at some candle sticks - do you notice the tweezers from the first 1 sema pair where you entered long? Well they inidicate reversal - strongly.
Then the long wick candle between the semaphore candles is is nice looking shooting star which indicates reversal and price is unwilling to go higher...

Now me...I would want to see why price is rejected there by going up in timeframes and seeing what support / resistance is there..and on a Daily chart you can see this form a resistance line on 17 Feb 2010.
So in summary there are about 4-5 good reasons to enter short instead of long.

Now add back your indicators and do they tell you the same thing?They should only confirm what you see!
My two cents...

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lukx
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Postby lukx » Tue Aug 10, 2010 12:22 pm

Thanks scheeco.

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Postby flex » Tue Aug 10, 2010 12:53 pm

First trade today, profitable.

Image

Image

dragon (or anyone), would you have taken the trade? if not, why? what would you have done differently?

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Postby flex » Tue Aug 10, 2010 1:55 pm

second trade, loss. i was aiming for the 50% area of the upper h4 bearish candle. there were those "equal" h1 candles, so i thought i enter after a retract into their 50% zone...
was my mistake not seeing the bearish h1 candle just before i entered? (i realized this first after taking the picture...)

Image

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Postby jarnapal » Tue Aug 10, 2010 2:00 pm

I have had several losses today. How about everyone else ?

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lukx
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Postby lukx » Tue Aug 10, 2010 2:08 pm

my account simply melted this week:

Image

not good taking into account I might also loose job soon :(

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Postby Jalarupa » Tue Aug 10, 2010 2:19 pm

lukx wrote:my account simply melted this week:

Image

not good taking into account I might also loose job soon :(


Just an observation that I mentioned yesterday...

Less is more... focus on entries off extremes... Your rat entry should have been at least 2 candles back... then your target could have been the 50% for a quick COUNTER TREND scalp...

Then you should have got on the bus with the rest of the peeps and entered off the extreme high via a limit or rat if you wanted to play it safe... also baring in mind the price failed to make higher highs in that area three times... which should say that the next stop is the basement... :)

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