thalestrader

You can easily avoid this by following these steps (do not skip any): 1) Stop trading 2) Turn off your computer I guarantee you will never lose again. Of course, if you decide you'd rather keep trading, then get used to losses, even multiple consecutive losses. Best Wishes, Thales

I'm still getting hit with a chunk of slippage, but by a chunk, I mean .2-.5 of a tick, so I really shouldn't complain. I have no idea why we are now seeing slippage where for six months we had absolutely none. I even drew the account back down to $500 thinking maybe the account was being penalized for being too large, but still slippage where before there was none. Who knows? In the end it is really not that big of a deal except that we used to run "clean" numbers, i.e. profits/losses where whole tick numbers, whereas now we'll move a stop to lock in, for exampe, a +5 profit, but if the stop loss is hit, we end up with +4.7 ticks. Best Wishes, Thales

Stikky Stock Charts, and How Charts Can Help You in the Stock Market by WIlliam Jiler, and the price action/chart reading section(s) of William J O'Neil's How to Make Money in Stocks

Well, short was the right thing to be. Here is another opportunity to be short as well. I do not typically initiate new positions this close to the US close. Best Wishes, Thales

I do not like to be a top- or botom- picker, but EURJPY has a little activity that makes me want to be short. Best Wishes, Thales

Well there you go ...

Nothing strikes me as particularly clear and attractive at the moment. A lot of consolidation at the day's extremes has me leaning toward lower USD, lower Yen, higher everything else. Best Wishes, Thales

Any one see a potential long there as well? Just asking. Best Wishes, Thales

Here is an ending diagonal on the GBPUSD. As I have said before, the anticipated direction from this pattern is a reversal of the trend leading into it. However, if price breaks in the direction of the trend, the move can be quite something. Best Wishes, Thales

Here is the EURUSD as it looked when I turned in for the night and how I find it this morning - three for three on the posted targets. Best Wishes, Thales

Hi Midk, Take a look at the view of the EURUSD on the 240 minute in the context of the above goal of entering after the first correction off of an important S/R level. In addition to what you see there, I would say that I am a big fan of buying high and selling higher. Best Wishes, Thales

There goes 4932. Two down, one to go ... now if only the Eagles could get in gear for me the way the Euro has. Best Wishes, Thales

There goes 1.4912. Best Wishes, Thales

Automating ... I misunderstood your last post. Best Wishes, Thales

Just be aware that it has basically tested the lower end of its range by making a slightly lower low than the prior day low and reversing impulsively higher. If I were to try that short, I'd want to go to break even quickly, probably at about a +5, and certainly with a 146.74 print. Best Wishes, Thales

This was a nice example from tonight. Best Wishes, Thales

Done & Done. Best Wishes, Thales

Two Questions: 1) Would this have "filtered out" the current long on the EURJPY that I posted? 2) Why do I feel that seeking criteria to avoid taking losing trades, i.e. "failures," is a misplaced effort? Best Wishes, Thales

If they want Euros, let them buy Euros! (but if they're buying Euros, so am I) If they are feeling generous, then I am willing to take 4912, 4932, and 4958 Best Wishes, Thales

PT1 is done +29, PT2 is outstanding, stop is +8 Best Wishes, Thales

... So far, so good ... if you're long. PT1 is 132.25, PT2 132.50. Best Wishes, Thales

Hi Folks, I am receiving no data through the Gain feed in Ninjatrader, so I am posting a 15 minute EURJPY from MT4. Best Wishes, Thales

I think your picture adequately captures the notion of what I consider to be a chop zone. Do you still think that trade number 2 on the crude chart was chop zone? And yes, "must win," is over used in football. But as you note, whoever loses tonight will have long odds against a play off berth, and will likely require the help of other teams to get there. But win or lose, we'll still be buddies. Unless the Eagles lose. Win or lose. Best Wishes, Thales

I know I am not alone in saying that I appreciate your contributions to this thread. I don't think John is looking for an argument either. We are all free to debate and disagree here, and a spirited response from anyone of us from time to time is to be expected. That being said, we all know that once you hit the "Submit Reply" button that we have no control over the emotional response or interpretation that our own words with induce in our interlocutors. Perhaps we all (and I include myself in this) would serve ourselves well if before posting a response that takes issue with another's views we give it a quick read to see if we worded it so as to minimize the possibility that our spiritedness is not taken for being mean-spirited. We are attracting a good group of folks here, and we wouldn't want to lose anyone over a difference of opinion. By the way, I wasn't looking to argue with you, and I certainly should not be interpreted as suggesting that you were wrong. I was only noting that as price presented itself at that point, it seemed to me to pointing to immediately lower prices. For me it was an opportunity to take a short entry. I fully understand that your entries are based on different criteria than mine. No problem. I am here both to teach and to learn from others. I am not trying to create an homogeneous bunch of unthinking Thales-clones. Best Wishes, Thales

Hi TrueBalance, I see that you edited your post, but I thought your comment about momentum appropriate. I too like to see the market do some "swingin'" before I decide to participate in a particular opportunity. You look like your trades would have worked out well. Thank you for sharing. Best Wishes, Thales