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thalestrader

Reading Charts in Real Time

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Since I feel kinda left out as I am the only one trading ES...

 

I guarantee you are not the only one reading this thread who trades the ES, and I would encourage whatever contributions you wish to share here with respect to your ES trades.

 

Besides, its all charts ... if this S/R stuff works, it had better work regardless of the market so long as that market is liquid and freely traded, right?

 

 

Best Wishes,

 

Thales

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Meh...forget it...pulled out around BE.

 

Repeat after me .. Short the Euro, Long the Pound ... Short the Euro, Long the Pound ... Short the Euro, Long the Pound ...

 

At least until it changes, right?

 

Best Wishes,

 

Thales

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...I am trading the 6B for longs and the 6E for shorts.

 

Short EURUSD ...?

 

...we've had something of a "123" against our long position (on the GU)...could probably make an argument for a potential short...

 

Stopped & reversed...(short GU)

 

Meh...forget it...pulled out around BE.

 

PT1 on the EURUSD for +23 pips.

 

 

I should have listened! ;)

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Repeat after me .. Short the Euro, Long the Pound ... Short the Euro, Long the Pound ... Short the Euro, Long the Pound ...

 

At least until it changes, right?

 

Best Wishes,

 

Thales

 

Haha...you beat me to it! (took me a while to make all those quotes for dramatic effect ;))

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These are the trades I find most uncomfortable - when you are stopped in and price goes from an immediate +6 or so to -6 in the blink of an eye. This is when I start thinking, and when I think, I usually do the wrong thing.

 

 

 

Best Wishes,

 

Thales

5aa70fab6deb5_2010-01-196B7.thumb.jpg.7f1c54fb8e6bfea67c796d84464ed928.jpg

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Here is where I stand: PT1 on each entry is filled for +27 ticks and +32 ticks respectively. I have stops at entry 1 PT1 and Entry 2 Break even level.

 

attachment.php?attachmentid=17989&stc=1&d=1263914322

 

Best Wishes,

 

Thales

 

Thales.

Many thx for the contribution here.

Question if I may to help me understand things.

 

Your long trades (post#3413).

You went long at the dashed blue line?

and then again at the solid blue line?

Moved the blue dashed entry stop as per the red dashed line?

 

Then you moved solid blue long stop to BE (red solid line)?

Your red dashed stop was then hit?

Your solid red stop was then hit?

And then post# 3439 was a set up for a new trade long?

 

Many thx

5aa70fab7443c_Thaletrader2010-01-196B6.a.thumb.jpg.e1a3abb0ea6b5240efe950c186d8dd35.jpg

5aa70fab7a642_Thaletrader2010-01-196B6.b.thumb.jpg.61768a270a10ca7150e3b44a2d2e66f3.jpg

Edited by zt379
corrections

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Maybe a potential short. Price sure has stopped/slowed down, though.

 

I'm getting impatient...I've moved my stop pretty tight...either it's going to drop or I'm out for a medium-sized loss...

UJ15M4.JPG.94c64a3a3b7ec0d3669b59f5e108e1ec.JPG

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... Your solid red stop was then hit?

And then post# 3439 was a set up for a new trade long?

 

Many thx

 

Yes to all your questions except that I did close the second long for +5 ticks - I closed the longs when Cory went short. I did not short the 6B, but PA was sufficient to get me flat.

 

And yes, the 3439 is a new long. Not going so well right now, and I have a -21 stop loss on it right now (entry 83, stop loss 62. Right now there is only 6-7 ticks between me and a -21 loss on the whole position.

 

Best Wishes,

 

Thales

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These are the trades I find most uncomfortable - when you are stopped in and price goes from an immediate +6 or so to -6 in the blink of an eye. This is when I start thinking, and when I think, I usually do the wrong thing.

 

I was in this, but just pulled out for BE when it gave me the chance...

 

...not that the trade isn't legitimate, it's just that it's getting late...

 

I'm still in the UJ for now...waiting for this trade to make or break my day...

GU15M8.JPG.ab4d8dda812334ad7d9b641a70b488c2.JPG

UJ15M5.JPG.e3829dd6832457e736951fdc7e33a00b.JPG

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And yes, the 3439 is a new long. Not going so well right now, and I have a -21 stop loss on it right now (entry 83, stop loss 62. Right now there is only 6-7 ticks between me and a -21 loss on the whole position.

 

Best Wishes,

 

Thales

 

Late post as I got caught on the phone, but I gave up on 6B for -7.

 

Looks like it would have been a decent short. Who knew? Anyone? Not me.

 

Best Wishes,

 

Thales

5aa70fab9430e_2010-01-196B8.thumb.jpg.9d01149e1d9331af104b2339fa00defb.jpg

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Yes to all your questions except that I did close the second long for +5 ticks - I closed the longs when Cory went short. I did not short the 6B, but PA was sufficient to get me flat.

 

And yes, the 3439 is a new long. Not going so well right now, and I have a -21 stop loss on it right now (entry 83, stop loss 62. Right now there is only 6-7 ticks between me and a -21 loss on the whole position.

 

Best Wishes,

 

Thales

 

Thx for taking the time to reply and explain so quickly.

I'm finding PT1's are being reached consistently.

Managing the trade in terms of PT2 and PT3 is an issue for me.

At these times they often conflict with seeing contrary trades.

 

How can I best explain what I want to say here?

Is it more a matter of determining what's been referred to as the "degree" of a move?

ie: the contrary trade we see may be a retrace trade within the larger move we are in.

Such that we would decide to sit through it, all be it taking the "chance" that the original (or adjusted) stop is hit, in order to stay in for Pt2 and PT3?

Or close out everything and re-set the machine, so to speak?

 

In terms of every new trend starting with a 123. I'm trying to learn how best to approach this, assuming I've explained it.

 

Appreciate your thoughts when ever you have time.

I've read through the thread so apologies in advance if this has been covered before.

Thx

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Stopped out of this!

 

Price has come within 0.1 tick of stopping me out of the same trade, but hasn't yet! (my stop is on the same place on the chart as yours, but must be very slightly higher---my stop is at 91.158...the ask has gotten up to 91.157)

 

That'd be so funny if somehow this turned around got to profit after that. Somehow I doubt it, though!

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Price has come within 0.1 tick of stopping me out of the same trade, but hasn't yet! (my stop is on the same place on the chart as yours, but must be very slightly higher)

 

That'd be so funny if somehow this turned around got to profit after that. Somehow I doubt it, though!

 

It took me out by 0.3 of a pip. The level I placed my stop at was 91.135 plus 2 pip spread (plus 0.5 for the landlord so 91.16) and it went to 91.143 plus spread or 91.163. It's certainly not moving very fast one way or the other is it?!

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Looks like it would have been a decent short. Who knew? Anyone? Not me.

 

Unfortunately, not me. It was getting late and I was more focused on getting out at BE than what price may have been indicating.

 

It's certainly not moving very fast one way or the other is it?!

 

No!!

 

I have to leave, so I'm going to just take the whole position out at my new, slightly more conservative PT1 or at my current SL.

UJ15M6.JPG.8d0811b70ca1ea0bbcc0d1935e9dda13.JPG

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