hunnybunny

Anyone know what triggered the sudden fall in stock indices and oil?

Gabe, i am so sorry to hear that. Please accept my condolences ... and do take care. And, Thales, i'm glad you're feeling better. Please do let us know the results of those tests. May God keep you and your loved ones in the pink of health.

Took an EJ short and moved SL to BE. Stopped out at BE

Working on it ... practising recognising your set up as it occurs real time but haven't been disciplined enough to do it consistently. mea culpa. also, i'm nowhere near being able to recognise S/R zones as astutely as others here. your BO set up works a treat in an S/R confluence, from the chart reading that i've done (although my chart reading is by no means extensive). i did attempt 2 trades - one EG, one EJ - and got stopped out before both went my way big-time :crap:ouch! i shoulda posted but was too sheepish to do so, as i figure it was probably because i mucked up the S/R zones ... and i was lax with the SL! :doh: i'm working on my entry and SL placement. thanks very much for sharing your approach with us so freely. it is very good of you - after all, you have nothing to gain from it. sure, there'll be losing trades, but from the little i've observed, your approach should leave one net up if one follows it in a disciplined fashion (even sans occult ability ) and if one needs empirical evidence, then your joint account with your daughter furnishes more than proof, not that you need to provide any.

and economists? Great to see you folks making nice money on your trades!

Thanks very much, Gabe! Emm, about #3 being a long trade ... beats me It looked like a B/O of the low at #2?

and here is today's EG chart. Looks like 4 B/E trades if one isn't quick to take profits? Throw in a chop zone, 1 long and 1 short trade that i couldn't spot for lack of a HL and LH respectively ... and is the state i would be in

Hi, everyone. Sorry i'm late with my weekend homework. Here's my marked out EJ chart. Please correct my understanding where i'm wrong .. many thanks! Here goes .. (1) so that's 5 trades? (2)1-3 is a long trade, with adds at 2 & 3? (3) 4-6 is a short trade, with adds at 5 & 6? (4) 7 is a short that would have been stopped out for a loss (5) 8 is a long that would have been stopped out for a loss (6) 9 is a nice big short that was almost stopped out? Haven't done the math to work out the P/L. Will attempt to do that next time. Learning lots doing this. Thanks for the suggestion. Will mark out S/R zones when i become more adept. :missy:

Hello, everyone. I've been following this thread since i discovered TL a couple of months ago and wanting to join in. Thanks for starting this great thread to teach, Thales, and everyone here who is contributing to my learning. I'm planning to mark up charts as Thales suggested and post when i can I'm just months old at this, so please bear with me if i'm slow on the uptake. If i may begin with a question to Thales or anyone else who cares to answer, why was 1.4664 a buy setup when there was no BO? Forgive me if the answer should be terribly obvious .. Thanks very much!

MidKnight, thanks very much for your kind note and advice Searching for a thread on fading areas in a trend now :missy: The next time i feel inclined to throw myself in front of a train, it'll come in real handy!

Great to see you back in the saddle, Gabe! It took a big man to post what you did about getting derailed

:haha: Chris, i have to say your numbers make me goggle :shocked: Congratulations on your new personal record! Brownsfan, Subterfuge, Grey1 - way to go, you guys! The consistent gains i see posted (the great company too! ) on this thread are what keep me going on this long lonely trek to becoming a true blue trader That you guys do it in a variety of approaches using different set-ups trading different instruments from each other makes it all the greater. (The one thing that you do have in common is your kindly desire to put novices on the right track!) Yup, your results offer newbies massive encouragement to keep at it .. so don't let up please. Grey1 does have a point about a P/L thread not necessarily showing the "how". This thread is primarily about the results and us newbies don't always get the "how it's done", which is not to say that contributors haven't been generous with their guidance. Well, after all the waffling ... time for me to 'fess up. i violated so many of the cardinal principles the TL veterans kindly tried to save a newbie like me from learning the hard way that i can only hang my head in shame. Where do i begin? :crap: Here's the list (by no means exhaustive): (1) no set-up, much less a trading plan - i went long on the dow and the brent crude yesterday when the markets were coming off (surely the dow will go back to 10,000 ... was what i blithely thought) (2) trading against the trend (catching a falling knife :doh: i might as well have thrown myself in front of a train) - as thales has pointed out elsewhere, trading against the trend doesn't make sense (3) no stop-loss or cutting of losses on pullbacks (4) doubling my position when the markets continued to come off and amplifying my losses - doubly (quadruply?) bad because the sizes were double my normal size to begin with (5) holding the positions into today (when my goal was to be an intraday trader and close all positions at the end of the day) (6) holding the positions into an economic data day (when the likelihood was great that the numbers would be bad?) Boy, was i asking for it :helloooo: To cut a long story short, i finally cut the positions today. Gave back all the gains from my winning trades since i started (which was a month or 2 ago, if anyone's asking) .. ouch. Sheer stupidity and recklessness ... ah well, it's back to square one for me So, it's your trades, your gains and your stories which are keeping me going

Hiya, Browns, Grey1, Chris, Brian! i'm here, for what it's worth. Good to see you guys posting and great to see your gains, as always I'm in the red today and veeery vexed with myself :crap: Back later to 'fess up

:haha: Better trades next week, chaps i'm just watching the markets with fascination. What a roller coaster!

Oh, and Brownsfan, clearly i wasn't watching the Russell as closely as i thought Thanks for pointing out that its range was actually wider than the other indices.