flex wrote:unfortunately i had another loser.
was that too early? h4 didn't close lower than the low. h1 neither.
edit: hmm, or was it because h4 made a new low before?
lukx zline trading log + cfabian p.35 + adaseb p.48
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- pablo101
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flex wrote:unfortunately i had another loser.
was that too early? h4 didn't close lower than the low. h1 neither.
edit: hmm, or was it because h4 made a new low before?
I wouldn't have taken the long there, I would want to see a test of some kind of pivot before I decide an entry which is what happened 90 mins after your initial entry.
pablo101 wrote:flex wrote:unfortunately i had another loser.
was that too early? h4 didn't close lower than the low. h1 neither.
edit: hmm, or was it because h4 made a new low before?
I wouldn't have taken the long there, I would want to see a test of some kind of pivot before I decide an entry which is what happened 90 mins after your initial entry.
Dozen pages back there's Dragon showing how well railway patterns work. There was a railway patter after your entry. Should have gotten out there with be.
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- Braathen
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MightyOne wrote:flex wrote:unfortunately i had another loser.
was that too early? h4 didn't close lower than the low. h1 neither.
edit: hmm, or was it because h4 made a new low before?
LOL! i litrally shat myself on that.... hahaha
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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EJ Short
EJ Short
Wicks at H1 open+close of opposite coloured candles.
Wicked 15m zline
H1 closed below 50% of the red H1.
Took the 15m Red rat short targeting support line below
Wicks at H1 open+close of opposite coloured candles.
Wicked 15m zline
H1 closed below 50% of the red H1.
Took the 15m Red rat short targeting support line below
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Cable long last Friday (Aug 20)
Hey guys, my first post on this forum. I am also a Dragon trader.. trying to be at least .. one day
cfabian and flex, I also had a long bias on Friday morning (GMT) due to that massive H1 momo and took two full stops (2nd on re-entry) which took me the weekend to get over and figure out what happened:
1. The supply / resistance zone is created on 12 August in the upper 56 area. Railtracks indicate institutional order flow: big sell order inventory resting here.
2. Price is strongly rejects this area in the 1st test - shows this is a strong level and there are still tons of sellers (Are you guys familiar with the Sam Seiden school of thought?).
3. Price puts in a double top on 16 and 17 August & creates clean H1 supply level (grey). Lots of wickdolls indicating strong selling pressure still.
4. In the 4th test price puts in yet another strong departure & a pretty 15min supply level.
5. The 5th test is key here and shows the quality of the new 15min level: price only just dips in and drops away very quickly yet again. This is where TRO went short
6. Finally, there was a highter timeframe demand level just below the current price level acting as a magnet. Price had been trying to get there all week.
... and we were trying to buy this thing in the middle of nowhere!
So I think the mistake was that we were buying at a level where supply objectively exceeded demand. This is Sam Seiden's amateur mistake Nr 2. Mistake Nr 1 is *emotionally* buying after price has already rallied.
Of course this is all beautifully obvious in hindsight + I am probably overanalysing, but I had to write it all down to get over those stop outs.
I hope this helps somebody?!:roll:
cfabian and flex, I also had a long bias on Friday morning (GMT) due to that massive H1 momo and took two full stops (2nd on re-entry) which took me the weekend to get over and figure out what happened:
1. The supply / resistance zone is created on 12 August in the upper 56 area. Railtracks indicate institutional order flow: big sell order inventory resting here.
2. Price is strongly rejects this area in the 1st test - shows this is a strong level and there are still tons of sellers (Are you guys familiar with the Sam Seiden school of thought?).
3. Price puts in a double top on 16 and 17 August & creates clean H1 supply level (grey). Lots of wickdolls indicating strong selling pressure still.
4. In the 4th test price puts in yet another strong departure & a pretty 15min supply level.
5. The 5th test is key here and shows the quality of the new 15min level: price only just dips in and drops away very quickly yet again. This is where TRO went short
6. Finally, there was a highter timeframe demand level just below the current price level acting as a magnet. Price had been trying to get there all week.
... and we were trying to buy this thing in the middle of nowhere!
So I think the mistake was that we were buying at a level where supply objectively exceeded demand. This is Sam Seiden's amateur mistake Nr 2. Mistake Nr 1 is *emotionally* buying after price has already rallied.
Of course this is all beautifully obvious in hindsight + I am probably overanalysing, but I had to write it all down to get over those stop outs.
I hope this helps somebody?!:roll:
- Attachments
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- cable supply level.gif (66.56 KiB) Viewed 4161 times
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- Cable 15min Supply.jpg (192.67 KiB) Viewed 4161 times
- TheRumpledOne
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flex wrote:unfortunately i had another loser.
was that too early? h4 didn't close lower than the low. h1 neither.
edit: hmm, or was it because h4 made a new low before?
Looks like you were up 20 pips on the RAT entry.
But you failed to follow rule #6:
6) Take whatever profit you can.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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- noushina
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I think Stratman's comment about how people let a winner turn into a loser fits nicely:
"Approx 50% of [my] trades will be exited around plus 2-6 pips. These are the trades that most people likely lose on because they allow them to reverse and hit a large stop. It's much better having 3 x +2 pips than 3 x -10 pips"
"Approx 50% of [my] trades will be exited around plus 2-6 pips. These are the trades that most people likely lose on because they allow them to reverse and hit a large stop. It's much better having 3 x +2 pips than 3 x -10 pips"
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