The ideas that I trade by:

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seacap
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Re: The ideas that I trade by:

Postby seacap » Fri Dec 19, 2014 10:22 pm

Captain Pugwash, we are nearing the monthly support but this does not mean that my small shorts should not work...check alias thread and his EU trade today.

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seacap
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Re: The ideas that I trade by:

Postby seacap » Fri Dec 19, 2014 10:26 pm

MightyOne wrote:
Ok, fine. It took some time to reread this thread and some others...
...Here is another try. We were far away from multi-day extremes so I positioned at BOx. Got stopped out.


Then you read the part about 'end of trend momo'?

This was obviously a take profit area...
give me an example that isn't stupid.


Ok thanks, I see.
Another example. It is obviously stupid because it did not work but it was not so stupid at the moment i took the trade.
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seedling
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Re: The ideas that I trade by:

Postby seedling » Sat Dec 20, 2014 1:40 am

seacap, you are trading against a strong downward expansion, why?
Monthly down, weekly down, daily down, what do you see on the multimeter if not from charts? You are trading against dominant expansions using 15 min bars, I am sure MO warned of this somewhere... Not good rr, what pattern is there to trade from? psych lines? I see 15m resistance and a wick, and you let it hit the stop? If short term then in and out not in. i.e 1h, 15m, 5m.. Not d1, 15m, but that's just my opinion and what I see, what do I know :roll: (sorry for the scruffy mark ups :oops: ) Someone may add a cone or two lol.
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"Intention transforms while attention creates." Deepak Chopra

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Sat Dec 20, 2014 6:26 am

Please read:http://www.kreslik.com/forums/viewtopic.php?p=78537#p78537
and the next post that I make after that until it sinks in.

Trading IS placing & trailing stops; where would you place a stop & in which direction would you trail it?
Your stop is at a long term extreme, YOU ARE TRADING LARGE CHARTS!

...but you cannot hold UNLESS the large chart conforms...

There is nothing wrong with taking a gamble that the large chart will conform, just don't expect to be able to hold for hundreds of pips without a long term 'something'

All that you need is a 2+ day extreme and for price to close over 'something' on a small chart...Next we need the large chart to conform:...

& please remember that, when gambling against the direction of profit, you need some reason to believe [the long term] chart will conform
at least minimally:...


:?: What do I keep repeating

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Captain Pugwash
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Re: The ideas that I trade by:

Postby Captain Pugwash » Sat Dec 20, 2014 7:23 am

seacap wrote:Captain Pugwash, we are nearing the monthly support but this does not mean that my small shorts should not work...check alias thread and his EU trade today.


seacap, my apologies,sir, you are correct as I now see

In my defence, I will say

That I didn't know yesterday what I Know today

good luck

CP
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

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Re: The ideas that I trade by:

Postby MightyOne » Sat Dec 20, 2014 8:16 pm


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Captain Pugwash
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Re: The ideas that I trade by:

Postby Captain Pugwash » Sun Dec 21, 2014 4:52 pm

I was not sure if I should post this here- but as its really about my toying with cones, I will. :)

I have gone back to using a line in the sand and more space approach - I can't find a way to trade with stops even at an extreme whilst at WORK - the LIS approach allows me to sneak off and look at a H4 candle - close over and its easy to exit - (I'm using VNC Viewer to access my home pc from a... errr ......small cubicle!!!!)

If I'm messing up the thread tell me, I'll stop! - its just that I notice that I trade better when I post :oops:

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and the trading chart

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and the reason I felt a long was worth a shot

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"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY

seacap
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Re: The ideas that I trade by:

Postby seacap » Mon Dec 22, 2014 8:04 pm

Thanks for the feedback everyone.
Just to continue, questions are on the charts.
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jscar
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Re: The ideas that I trade by:

Postby jscar » Wed Dec 24, 2014 4:32 pm

I'll at least give it a try, Seacap.

On your first chart, there was a breakout above the price action of around 4 Dec. If you were to go long the second day after your "close above" notation, with your stop below the low from that breakout day, I would not have a problem with it. But on the surface, there are plenty of questions about going long the day (the 17th) and place you show.

I would like to see a wickdoll appear at the BOx area before going long there. Especially since the peak reached on the 16th looks a lot like a wickdoll on a higher time frame (suggesting a longer term short). Then, there is the problem of the breakout to the down side on the 17th. Let's look at the hourly chart for this:
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Prior to reaching the level where you're talking about going long, there was a breakout below the low of the 15th. In fact, at about the level you show, there is a wickdoll forming where the hourly bars are unable to close above the lows of the 15th. So if you have enough space to trade from a safe position, this is actually a better place to go short (though the 125 area would have been better). The large wick coincides with the FOMC rate announcement. This sort of thing is why you want your position outside the intraday trading range.


On your second chart, there has been a downside breakout and a wickdoll has been forming. I see no reason you shouldn't be able to form a strategy for a short trade as long as this pattern holds.

Somewhere in this thread, MO posted a chart showing the relative strength of different patterns. A simple breakout was shown to be fairly weak, while a breakout followed by a wickdoll was much stronger. That is the difference between these two charts.


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seedling
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Re: The ideas that I trade by:

Postby seedling » Wed Dec 24, 2014 7:53 pm

Sorry I got lost in trying to adjust my charts so I could blank out what happened after...Edit I think I am even responding to your first pic again lol... Exam stress :oops:

The movement is down, look at this post viewtopic.php?f=39&t=2462&p=78076&hilit=Break+even+is+not+a+target.#p78076

I would have been looking to short, price was closing lower than something, maybe I am oversimplifying... Unless looking for a bounce up to pink daily slope.. there was no strong support there so it seemed more like nothing than something.

But again that's just my view and I am no guru.

Though I would advise getting an idea of basic movements, i.e correction/continuation...
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Last edited by seedling on Fri Dec 26, 2014 3:26 pm, edited 1 time in total.
"Intention transforms while attention creates." Deepak Chopra

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