Gabe2004

It is interesting to see how price settles in a certain area over time..... Gabe

NO REASON TRADE. If anything I should have gone long but really it was best to do nothing. I was bored :crap: lost 21 pips per unit (3 units) Gabe

Some trades over night and this morning. 172 pips. 19 pips/unit on average. Gabe

If I may give you a piece of advice that is repeated everywhere in connection with trading; WRITE A TRADING PLAN. For far too long I thought that I DON'T NEED ONE, because I am different. But I am not. I started by putiing sticky notes on my monitors, then I got a little program that poped up a little window every few minutes with a message. This cured me from not having stops or moving them.. Basically I brain-washed myself, but the bigger change came after I wrote a trading plan. It was/is very simple and crude. It is a work in progress, but it helped. I noticed a definite change in my trading after writing it. I don't keep notes of all my trades but i do take snapshots of my screen and annotate them occasionally. I looked back the other day at a big loser that I had a long time ago and traced the numbers back to the chart. WHAT WAS I THINKING? . No stops and the trade went on for 20 days with a HUGH loss. I am still tempted to do that occasionally but mostly I am CURED. I believe that a good trader (one that has a solid exit strategy) can make money even with random entries. Couple a solid exit strategy with a statistically valid entry strategy and you practically have a liecense to print money and have the perfect job. Good luck Gabe

I have to say that I owe my recent success and apparent "turning of the corner" to Thales, but I would not characterise my trading as a BO but rather a reactionary method which in many cases is counter trend. This is because I find that most of the opportunities - for me atleast - are showing up during retracements from SR zones/lines. Gabe

Close 1/3 of the 2nd position just below the point I closed the 1st position but was too slow to close the other 2/3 s, Actually I moved my stop slightly up (6 pips) but I should have not given back more than 15 of the best level. As it is, I gave back 45 pips off the lowest level around 22:05 EST. Overall I should not complain. I made 108 pips on 6 units.(18 pips/unit) Gabe

Closed 1 of my 2 positions and moved my stop to a positive level on the other 1. Gabe

Greed and hope. Actually I saw a resistance area @ 148.26 Also there were no news to explain the move in a thin market time. Gabe

I thing GJ has hit a temporary resistance, hence the 2 shorts. You can see a brief short that I scalped on the way up. Gabe

We are half way there (GJ) Gabe

I would like to suggest that all questions be posted in the forum so that all of us can learn from the answers. Gabe

I guess you meant 42.48 and 42.49 .............. Gabe

We are in the 50% retracement area since the bottom in January to the recent high in August. It's a long shot but 151.40 looks like a reasonable target. Going out on a limb here, it should take about a month to get there. Gabe

Looks like I was wrong on the xJ pairs direcion. Gabe

Here are 4h charts of the same instruments. Looks like it could go either way. Based on the stock market action today I would say we are going up but NO GUARANTIES FROM THE MANAGEMENT Gabe

Some charts with noted levels Gabe

2 trades tonight. 1st target in both was a simple numeric target. The 2nd and 3rd targets were based on SR areas that seemed like logical targets at the time. EJ 10, 30, 58 pips. GJ 14, 40, 108 pips. Average 43 pips per unit. Gabe

thought this might be helpful. Trader Vic 123 Reversal Pattern Setup Gabe

Hello Forrest What I mean is that it seems that either GJ or GU would break out decisively or one of the other 2 pairs that you desplayed (EJ or EU) will break out decisively. So maybe it makes sense to trade 2 instruments of the same kind and once one makes its move, close the other one and ride the rocket that left earth. you may cut you position in half by this but if you took the wrong instrument you would make nothing. One can always add to a winning position later with the cash freed by selling the non performing instrument. Take care Gabe

It seems that trading 2 instruments in parallel would have worked in your favour. Pairs involving the GBP seem to outperform pairs with EUR in them Gabe

2nd 1/3 was closed manually as I saw some abnormal chart activity. Turns out there were news from Japan (retail sale) after which the market started to turn down and i modified the stop loss to retain some of my profit on the last 3rd. Not too happy with the trade but market conditions dictated a change in the plan. Gabe

My latest entry. Firtst 1/3 target hit. Gabe

It is interesting that the candles look different at different brokers in the same timefarem. I assume your chart was 15min. Gabe

On second note, maybe not completely (confusion not completely resolved) I will re-read the related post from your post #398. In the context of the article from IBD I understood that you were showing LONG setups. What I am not clear about is that at the time that LOWER HIGHs were forming and you showed us set ups where if a LOWER HIGH is formed. one would be advised to take a SHORT below the most recent LH. So in your chart (that I circled 2 areas in it) I was wondering how would one know that those apparent SHORT setups are not to be taken. I maybe slow this morning but I was up till almost 4AM :sleep: Thanks again Gabe