wasp

I'm not saying shut up as I think this could lead to something viable and interesting, just pointing out that those who trade each market and help move it are very different for many reasons. BUY BUY BUY! :shocked:

very, very simple. If price crossed over the resistance it is currently just below and thus consequently crossing the thick cyan trendline, I would exit all my position and be long looking for the opposite with stops below said S/R. BUT, and this is a very big but, I trade forex, yens in particular and no 2 markets are the same (as you know.) Especially, indicies and currencies. The behavioural difference between the markets are huge for so many reasons and what may be an excellent POV for me on fx, may suck on the YM. Time Opening hours News Participants Ranges Just to name a few. Again, all that would probably change or gold, or corn, or pork bellies... Hell, something that would be blatantly obvious on yens, would be very different on the Scandinavian crosses. But there is your answer anyhow! Additionally, with FX, I feel I can afford to let 10% either end pass me by as it still alllows tight stops and a great profit margin as they (usually) move plenty!

Its all percentages really and numbers. As 95% do trend more than these sharp bounces, I just grit my teeth through these events and ride out the runs. Yens trend beautifully (at times) and better than some pairs as they are actively traded 24/5 whilst pairs like cable and eurusd range through the night. I didn't think these trends in the dow were normal, will have to take a proper look.

Yes but if I didn't believe it would go further, why would I stay in at all?

it probably won't surprise you much either that I rarely use under 10% risk per trade!

Funny you should say that... My old flatmate and I used to go on pub crawls around the town I lived a few years back. When we'd get in certain pubs where we were known, the bartender always pulled a pint glass for me and half for him.... He said that I just wasn't the type of guy that seemed to do things by half! I'm not. When I enter a position I am in it full confidence and if I have my position I will have all of it as if I didn't have the belief in the reasoning, then I wouldn't be in at all.

The problems with trending........ 95% of the time whenever I exit a position through S/R it retraces 10 points then continues and with fx, it is more likely to trend than not, hence my ways and the factor I do not exit at S/R. Days like today are infrequent and painful! The support on EJ was too strong again as the strong hands pushed it down to buy in whilst the weak hands kept selling... I'm just thankful I have good entries that whilst I gave back to the market, I've not lost out.... yet!

Ouch! This is no fun for a trend trader! 50% retrace on both!

I find it hard to say not knowing the market really......... stops trailed behind S/R but now I know its futures charting I will be having a butchers over the weekend at what you guys trade.

EJ bounced off the same support as yesterday and GJ following suit. Despite the obviousness of the actions, I am too late to act now and by golly, I have a plan, and that plan says wait before acting too hastily! Trend over S/R.

I would have been short YM or NQ from the open trailing behind my S/R lines and seeing what happened. Hard to say as I have no idea on the behaviour of either but if it was FX I'd just be riding the trend and waiting for down line to find placement on the hourlies...

Aaaah! They are just there ready........

Thats exactly what happened to me yesterday so you live, learn and adapt and today I spread my exposure over both eradicating that issue, plus, should one get spiked out for example, all is not lost.

1) I trade from experience and draw my lines through what I see/learnt through time. 2) I have never read a book on trading so no idea what the herd do. 3) I know your a wykoff fan and he may do things differently to me. 4) Not everyone is as amazing as me!

Just a quick analysis from my POV at currencies show some simple trades but sure today is easier than most...... entries based on TL crosses...

Interesting........ What sort of TF do you guys normally work from?

You just open a new demo account! FWIW I have never had too and I have had it longer but it only takes 3 seconds to open a new account.

Its just a free metatrader download....... IS IT FUTURES??????????? :bang head::bang head: http://www.fastonlinetrading.com/terminal.html download WHC (the first one.) They have everything from EVERY currency pair through to gold, oil, futures, stocks, commodities.............. Did I do a good job boss! Did I! :missy:

yep! Is it then???

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So this IS free futures charting???

your long at 12960 wasn't futures was it FW?

solid NQ short option IMO but YM slower

Short GJ @ 203.90 stop @ 203.25 Short EJ @ 162.20 stop @ 162.45

I have this atm...