surely its not the stop loss's faullt. it was just doing its job. trading the news is a risky business. picking a top on even a scrappy up trend is a risky business. resistance trend lines get broken all the time on lower time frames. this is about probabilities not certanties.
With 20/20 hindsight, his stoploss would have worked better as a short entry order. He should have been stopped out earlier and would have been on the sidelines waiting to reshort at a better price. There are pros and cons with using stop losses. One big con is having an order out there for anyone to see that you are willing to buy (if you are short) at a higher price. Just more ammo that can be used in a stops raid.
Your an EW guy right or wrong......if so i have a 3 wave Theory That Blows the EW theory out of the water.
i like waving but i only understand trading the trend. i believe in keeping it simple because that's what i am. i supose what ever works for each of us is ok as long as it works
Well, I'm just about done. Finally get the big drop I've been holding on to shorts for for days: and find I was stopped out, just moments before it started, for another big loss. I'm at -$490 since I started, when I hit -$500 I'm out of this game. If I don't see you again, it's been nice meeting you.
Sorry for the loss Rob, However.... with many solid tips you have received from other members here, ill add my own by saying dont let the loss get you out of the game just because your trading method did not work out for you. if your passionate about markets and trading... get back in and evaluate what worked, what did not work, why did it not work, get back to the drawing board and draw up a trading method that fits you. Anyway, hope you stick with it and come out well. GL buddy.
Beer Question .....While I am catching this run down.....if 20/20 hindsight is seeing it clearly after the fact. What would you call seeing it clearly before it happens? lol
Beer Question .....While I am catching this run down.....if 20/20 hindsight is seeing it clearly after the fact. What would you call seeing it clearly before it happens? lol
then you are a master of your system and trading becomes stress free
Beer Question .....While I am catching this run down.....if 20/20 hindsight is seeing it clearly after the fact. What would you call seeing it clearly before it happens? lol
Deja Vu, but that is not what you have in mind I suppose..
Do let us know on bigger drops and surges............ first billion coming in weeks or months ?
would be nice........ wouldn't it be...?
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
oops. well i only go with the trend and as there is'nt one i'm flat. medals all round for those taking a position. i'm just not brave enough. this whole short the eu/us thing just seems too obvious and the market does'nt always play by the rules. but good luck.
agree.......... I'm short but the bandwagon is looking heavier with shorters going forward....... It won't be a surprise if this takes a north bound train to get them stop losses...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
Your an EW guy right or wrong......if so i have a 3 wave Theory That Blows the EW theory out of the water.
Well, I keep my eye on the multitide of counts on US$ and EURUSD. Of particular interest to me is how the obvious or leading count tends to be the red herring. So I have Banlan's, Neely's and Hopkiss's versions, Delta and my own MyWave which is my preferred system for obvious reasons. I would say that the counts are about 25% of my decision making although the patterns that occur from the ending counts (ends of 3's and 5's & C's generally) probably make up another 25%. So I would say that I do count waves but not a hardass EWaver. Regression and lots of other work too.
Having said that, happy to take anything that makes me sharper sir!!
8hr stochs starting to unravel - will the triangle in the price chart break and take the daily MACD with it - only the market will decide and it is taking its time!! If price does start to gather committment, I'll then be looking to see if this is just a retracement move from 1.2994 or something bigger. Never stops, this analysis stuff!!
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Originally Posted by jbiggart
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trading is not for the norm .
