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MightyOne
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Postby MightyOne » Sun May 09, 2010 4:07 am

newark18 wrote:what is trade two? From 1 to 1?


Trade 1: Decline to (1)

Trade 2: Rally to (1)

Trade 3: Rally to (2)

Trade 4: Decline to (2)

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MightyOne
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Postby MightyOne » Sun May 09, 2010 4:51 am

You can learn a thing or two from the answer sheets:

Image




-TWO TRADES TO BE ANSWERED-

johny
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Postby johny » Sun May 09, 2010 8:12 am

Dear Mighty One,

Thank you very much for your generous offer to us. As always its very kind of you.

Best Regards
Johny

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spa
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Postby spa » Sun May 09, 2010 12:09 pm

i'm posting this just to shame myself....
did the chart when I read the post with mo's first chart without looking to the answer posts..
just to be clear how moronic I am i thought there were only 2 trades from 1to 1 and 2 to 2 ...

Johny congrats on your chart... clearly i belong in the sub-idiot section of this forum and trading in general...
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spa
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Postby spa » Sun May 09, 2010 12:57 pm

second attempt after reading all examples .....
got carried away..found a new trade....
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newark18
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Postby newark18 » Sun May 09, 2010 1:06 pm

This is my final attempt:

Image

[-o< Oh please oh please oh please...
Failure is an opportunity to learn.

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gfg1
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Postby gfg1 » Sun May 09, 2010 2:15 pm

Start of MO's 4 hr chart maked as yellow 2.

Using MO's saying of "draw only one level of support or resistance at a time" went to 15 minute chart drew horizontal line at s/r of 1.5483, similar to dragon's method of entering.

Entry 1 would be on move down at 1.5483 out at top of white horizontal line 1.5433.

Entry 2 would be again at horizontal line at 1.5483 (note high is 1.5485) out at top red bar white horizontal line 1.5437.

Entry 3 would be again at horizontal line at 1.5483 (note high is 1.5483 a lower high) out at top red bar white horizontal line 1.5442.

Retrace is back to only 1.5458 a way lower high. Need to relocate draw only one level of support or resistance at a time" to reflect new reality. New horizontal bar at 1.5440.

Double bottom at 1.5421.

Entry 4 at 1.5440 out at top of red bar white horizontal line 1.5387.

Redrew horz line again at resistance double bottom or 1.5320.

Entry 5 retrace to horz. line at 1.5320 red bar white horizontal line 1.5235.

Redrew horz line again at resistance double bottom or 1.5235.

Entry 6 would be at horz line 1.5235.

End of MO's 4 hr time frame marked in yellow 2 on second chart.
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Price closed over a line that you believed to be support and that is the first indication that something is WRONG-MO

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Braathen
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Postby Braathen » Sun May 09, 2010 5:33 pm

Well since everyone is posting there comments on this price action ill show my version too ;) "Can you place your average entry while at the same time dodging a retrace?" This is very much how i try to trade at the moment.. getting out at extremes etc and see how price goes not to get caught in anything i dont wanna be in. Anyway.. few comments in the pic.
I did not take the 1st and 5th trade (would have liked that one :P) anyway all my entries are done on 10/15/20/30 min charts with overlays and my support resistance lines are my extremes.
Image

i stated MO saying "Can you place your average entry" and i actually have no idea what he means :P but i was more thinking about dodging the retraces/revearses by exiting at extremes
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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MightyOne
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Postby MightyOne » Sun May 09, 2010 6:14 pm

newark18 wrote:This is my final attempt:

Image

[-o< Oh please oh please oh please...


Did you buy on the way down again ;) :lol:

Notice also that I only have 1 level of S&R per average that I want to place.

This is hard, there are a lot more than 3 mice applying
8) 8) 8) 8) 8) 8) 8) 8) 8) 8)

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newark18
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Postby newark18 » Sun May 09, 2010 6:35 pm

Doh no wonder I've been losing so much money
Failure is an opportunity to learn.

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