Cwn6161's Trading Log

Jalarupa · Post by **Jalarupa** » Tue Dec 14, 2010 2:56 pm

cwn6161 wrote:Stopped out. What can I learn from this? Last week I was offered 100 pips numerous times, should I have taken what was given me, or was it ok to try and hold for something bigger?

I'm in the same boat... which brings me back to MO's true teachings... Price closes over a line...?

If not... Then price is moving in the opposite direction.

cwn6161 · Post by **cwn6161** » Tue Dec 14, 2010 3:09 pm

Right. Hindsight is 20/20 though. I think if I really want to shoot for 200 pips, I need to be looking to get in at a weekly extreme. My entry wasn't even a daily extreme.

But which direction to look for the week to head? That's where the line comes into place...

I'm bringing my SL down to 20 pips and looking for 5:1 return. I shouldn't need a huge SL to enter correctly.

Currently short EU from 1.3450.

Jalarupa · Post by **Jalarupa** » Tue Dec 14, 2010 3:24 pm

Nice I'm all in short from 1.34700

Gunning for 1.30 and lower...

cwn6161 · Post by **cwn6161** » Wed Dec 15, 2010 1:27 am

I'm proud of this one.

Saw a previous extreme broken and the CC closed over. That's my line. Wanted to short below that line.

On the 15 min, I noticed a down momo candle, so I waited for price to come back a bit before entering in. Took this trade for 100 pips!

cwn6161 · Post by **cwn6161** » Wed Dec 15, 2010 12:45 pm

I was up early...

cwn6161 · Post by **cwn6161** » Wed Dec 15, 2010 5:51 pm

Another 100 pips! Trading with the smallest amount really does wonders for your confidence.

cwn6161 · Post by **cwn6161** » Thu Dec 16, 2010 6:41 pm

Not in this, but I thought the channel looked nice. Wonder how long it will last?

cwn6161 · Post by **cwn6161** » Fri Dec 17, 2010 3:54 pm

Reminded me of wed.

Post by **TheRumpledOne** » Fri Dec 17, 2010 5:47 pm

Apply the same logic to the daily

cwn6161 · Post by **cwn6161** » Tue Dec 21, 2010 2:26 am

I got greedy and was looking for a 100 pip move, but missed the market telling me to get out. Bottom line is the area I had the opportunity to take profit but didn't. It also marked a great entry point as well.