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AbeSmith

8/14/07 General Trade Log / Idea Sharing

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Hey Abe you bought below the pivot because mine is at 13296, seems like you bought the breakdown.

 

Check out http://www.tradesignals.com/pivots/, the site updates the daily pivots for major markets.

 

Good luck trading, hope this helps.

 

Thanks Nvesta81. Sorry I didn't see your post earlier. The pivots from tradesignals.com is different from the Sierra Chart pivots on my screen. Not sure why that is.

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Just a note for one of your trades. Often, you're getting in late on a move. See the notes I've made. Volume is your best friend, more so than price is to me. Price is...ok... ;) but volume is going to be my best man if I ever get married. HAHA

2350d1187106655-8-14-07-general-trade-log-8-14-07t5.thumb.jpg.2e926183d5c19e2b64daf978795d6c4f.jpg

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Just a note for one of your trades. Often, you're getting in late on a move. See the notes I've made. Volume is your best friend, more so than price is to me. Price is...ok... ;) but volume is going to be my best man if I ever get married. HAHA

 

Thanks Tin, but I don't see any notes.

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Thanks Tin. The declining volume on the price decrease shows that it is a weakening decrease. And then the doji following that has significantly higher volume signaling a change in momentum. The next candle is a red candle though but the volume is comparable to the low red candle volumes before the doji. Then we get a green candle with twice as high volume as he previous red candle, signaling that there is a going to be a move to the upside. You're right. That would have been an excellent entry. I read about this type of volume analysis but haven't used them in my trading. Looks like I need to pay more attention to it. Thanks.

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Thanks Tin. The declining volume on the price decrease shows that it is a weakening decrease. And then the doji following that has significantly higher volume signaling a change in momentum. The next candle is a red candle though but the volume is comparable to the low red candle volumes before the doji. Then we get a green candle with twice as high volume as he previous red candle, signaling that there is a going to be a move to the upside. You're right. That would have been an excellent entry. I read about this type of volume analysis but haven't used them in my trading. Looks like I need to pay more attention to it. Thanks.

 

Abe,

Many traders utilize volume in their trading and I would recommend you watch it more closely. Tin gave you a great example. That's part of the reason why I love VBC's since that volume is already represented in the candle itself - in terms of size AND how quickly/long the candle takes to print.

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Abe,

Many traders utilize volume in their trading and I would recommend you watch it more closely. Tin gave you a great example. That's part of the reason why I love VBC's since that volume is already represented in the candle itself - in terms of size AND how quickly/long the candle takes to print.

 

Thanks Brownsfan. I will definitely be paying more attention to the volume.

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Just a thought from li'l ol me...

 

Good question Tin. I went long because of the two bullish hammers. But clearly I was wrong. Seems like I'm going against the market when I should be going with the trend.

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Guest cooter

A basic oscillator or moving average might help you keep in sync with the trend of the market if you can't see it clearly.

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Guest cooter
A basic oscillator or moving average might help you keep in sync with the trend of the market if you can't see it clearly.

 

Also, using a higher time frame as an anchor chart for a point of reference can help as well. Since you seem to be trading off of a 1 min chart, you might want to use a 5, 10 or 15 min chart as an anchor.

 

Better yet, since you are apparently using candlestick pattern recognition to trade, why not use the higher timeframe for your trades? I'm not aware of many successful candlestick traders who use only a 1 min chart....

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