Gabe2004

Maybe the tight stop with a re-entry would have been a good idea as well? (it is in hind sight )

Now yes but 10 minutes after I was hit it did not look like that Gabe

Stop was too close

Short @ 135.641 Took profit on 1/2 @ 135.396 Target 135.225 S/L @ 135.625

Had you shorted at the break down of 155.35, where would your Stop Loss have been? Thanks Gabe

Would it be possible for you to post a few charts with markers to indicate your daughter's entries and exits? Thanks Gabe

Sorry I missed that in your first post. I trade FX with Oanda and their spread varies based on time of day or news. I was nailed several times by INVISIBLE spikes but not too badly. Overall they are OK. Have a good weekend all. Gabe

Thales Would you have shorted @ A or B and how many pips below the blue line? Would you have taken profit @ C (1/2) and @ D (second 1/2) or you would let the whole thing close @ C or another option? Thanks Gabriel

Trade closed before the intended target because I thought that conditions changed. Time will tell if I was right.

My first attempt @ this thread. 2 potential long and 1 potential short. Gabe

I call trading THE LAST NUT THAT I HAVE TO CRACK and yes, it is the hardest thing I have ever attmepted. Could you tell us how long did it take you to be consistantly profitable (on a weekly basis or any other basis) from the moment you discovered trading? Also what is the % allocation of the instruments you trade. Thank you Gabe

If you think of it Brooks advocates the same thing. He says that one should wait for a definite break of a trend to place trades agains the previous trend direction which means that he is not always buying low and selling high or selling high and selling low. It seems much safer to let some one else test the water first. Also one of the most important things I got out of the book was that Brooks says that trends will last longer than we anticipate. The above will explain why so many fail at picking tops ("surely it went high/low enough" )

Why not call it a day after 3 losses in a row? or whatever number you like. I call it GOING NUTS when I have one failure after another but i still hope that the the next one IS THE ONE. There are many good days with clear setups that materialize. On days that I get whacked time after time, I look back at those days and I realize that i was revenge/hope trading and that is a NO NO.

I agree. The statistics about those who failed or succeeded, never mentions how much time did those that succeeded put in as compared with those who failed. On another point, Al Brook's 20 years being the time it took him to be consistantly profitable makes no sense. Apparently he is trading around 22-24 years. He started to publish articles about his trading about 2 years ago. Just about the time he was supposed to start being profitable. He does not come across as a person who would try and teach something only after 2 years of being profitable.

It was promissed for the second quarter............

I would not have shorted below bar 4 because there was a strong move up and usually there would be at least 1 pause and then resumpsion of the trend for at least 1 more leg up. Also, price is above the 20 EMA but I am not a big fan of the EMA as it will take you clost to 2 hours from the open to get a valid EMA reading. Especially on big gap days.

I have a question which is marked in the chart. Thanks for any replies.

Any reason you're using a 3 minute chart? Did you mark up a chart for yesterday? I am using the 3min chart because Iget killed by the retracements that happen in the 5 min after my entry. Trueth be told, I am using tighter stops than Al is recommending)

This is my attempt at marking H/L 1/2's. Feel free to point out mistakes.

Hello Could someone please post a picture with H/L 1/2 marked? I watched all of AB's videos, read his articles and the book but I still have a problem figuring out the above. It seems that sometimes the H's and L's are mixed in the charts posted here and in AB's work. THanks Gabe