Gabe2004

After seeing Michaelangelo's sculpture of David, an art student asked the great artist how anyone could make something so beautiful and emotionally moving from a block of stone. Michaelangelo replied, "I simply chipped away the excess so David could emerge from the stone." See the analogy? Gabe

I had the same thing happen to me this week twice. I skipped the trades that would have made my day. It felt like I gave up on trading those days. Lost my focus and lost interest. Went to work on some woodworking project. It is tough to keep focusing for many hours. When I used to trade without stops or used to move them, the way to cure myself was to install a small program that would pop a small message window with "DON'T MOVE STOPS" and it sounded a sound alert as well. So after a week of this Chineese torture I was cured. Taking all the trades and realizing that this is a probability game, is the next step. Gabe

No offence Thales, but EW to me is in the same category as modern art. Below is an example. Critics will try and tell us with very fancy words (words that I would probably understand individually but as a sequence coming out of the mouth or pen of a critic, they make no sense to me at all.) that the attached file/picture is a piece of art. To me it is a smear job that required neither talent nor time to do. From what I have read and heard about EW there is never a way to interpret charts corectly but THE EXPERTS in the field of EW will always find an excuse to explain why it failed when it did or use a particular case to prove that it works. Gabe

If my entry is fine than I am confused. When is an SR line/zone of such importance that you would wait until price clears it in order to enter into a trade and when is it OK to enter into a trade based on the L-H-HL or H-L-LH even if the entry would be at n SR zone? Thanks Gabe

Maybe you wouldn't because of the S/R line this would be @..... Gabe

Hello Thales Would you consider the potential trade in the purpole square a valid setup? Thanks Gabe

Possible long on UJ. Gabe Or not.

I did. It was just a sugestion for the sake of efficiency. Gabe

Hi MK Could you put the time frame on the charts? (or mention them in the post) Thanks Gabe

I can see some of the L, H, HL setups but some I have no idea what was the reason for the trade? Gabe

This looks like SOMEONE knew that the news at 8:30 EST will be good. Not that the overall direction of the market for the day will depend on the news, just the immediate reaction. Gabe

These are my 3 trades from last night. I froze during the 2nd trade ie. I saw that something is wrong but still let it go to my original stop loss. It may be a good practice to stick to the rules and let stops be hit but there are times when one has to rely on instinct. One can argue that instinct would take us out of good trades prematurely. I have to see which is more true in my case. Am I killing more good trades than I am saving myself from a loss..... Thales would probably argue that letting my stop be hit was a good thing..... Gabe

Thanks for the explanation about the Indians. The chart that I posted was refering to a long around the same time as Thales was suggesting a short. Not later in the afternoon after the drop but in the morning around 10:30. Gabe

How about the long option fo r the above trade? Could it have been a valid setup at the time? Gabe

Hello Kiwi Could you explain what are the LITTLE INDIANS? Thanks Gabe

:crap: :rofl: I love to think (it is a massage for the grey cells) but I guess in trading it is not a good idea. Gabe

I was thinking that maybe we can come up with a rule to the pattern in which price is converging in a symetrical (or non symetrical) triangle, price than pokes out of the boundaries of that triangle (flag) but than it really makes a big move into the opposit direction. Gabe

I wonder how often we have these fake BO's :shrug: Gabe

Took the trade off. My previous trade's targets were all met :doh: but I am out. Gabe

Potential trade for GJ. Gabe

Couldn't control my fingures this morning. Actually the first long trade (which turned into a loss of 66 pips) was in reaction to the big drop and the subsequant retracement and smaller bar. I have this theory that after a large bar if there is a relatively small bar after it, price will move strongly in one of 2 directions and I bracket that bar. As it happens I was wrong on the long so I reversed and went short. Took a 10 pip FEEL GOOD profit on 1/3 Price started to go against my position so I closed another 1/3 for another 10 pip profit. My target of 30 pips for the second 1/3 was mised by 2 pips and my Stop Loss (which was set to break even +1) was hit. So total profit for this trade 21 pips and so far -45 loss for the day. Gabe

Took another quick trade last nigh and made 30 pips after the initial loser of 15 pips. Had I kept my original postion , the 3 first targets were met.(I did not draw the 4th target in the 2nd chart) I have to trust myself - or what I see - more. Gabe PS I have added a 1min chart of my last trade from last night. Orange triangle = Short entry. Blue Triangle = short close (3/3)

Post 1027 has my targets. 149.85 149.60 149.35 149.10 4 targets eventhough I devide my trade into 3. Gabe

:crap: I was just looking at it. I was called for dinner and the trade went against me a little so I decided to close it. Do I feel stupid now. My first profir target was hit without hitting my stops.(149.85) Gabe

Potential short on GJ Gabe Too much resistance. Took a 15 pip loss.