Reading Charts in Real Time

[thalestrader 14]

...Hence, we trade to make money but it's the last thing we should be trading for or thinking about...

 

Exactly. Very well said.

 

Best Wishes,

 

Thales

[thalestrader 14]

Current view of the ES ... something like that ...

 

 

Best Wishes,

 

Thales

[thalestrader 14]

I pulled up crude for the first time over the weekend and just threw some S/R up there to see how it reacted to them today..and damn!

 

Look at CL at the last two day's prior highs:

 

 

 

Best Wishes,

 

Thales

[thalestrader 14]

Closest thing I see to an opportunity at the moment is a short on the EURGBP

 

Profit Target 1 hit ...

 

 

 

Best Wishes,

 

Thales

[Cory2679 11]

I have to leave right now to help some people with something and I'll be back later...

 

Here's how the EUR/JPY is looking to me now...of course it may climb higher before declining and breaking the low (it's obvious how the SL & targets would be adjusted accordingly).

 

We'll see how it looks when I get back. It is getting later and later, though (the later it gets, the less confident I am in an impending significant move)...

 

I'm back...following up...here it is now (the last image)...never amounted to much...and it's too late in the day to consider a trade now.

 

-Cory

[thalestrader 14]

Look at CL at the last two day's prior highs:

 

 

 

Best Wishes,

 

Thales

 

Two little demo short attempts lat in the day while testing previous highs

 

 

Way late on the post ... but I was on time with the post pointing that crude was at its highs. So, take it for what you will. If its not real time enough for you, scroll on. The second short from 74.91 has a current stop at 74.79, price is at 74.75

 

Best Wishes,

 

Thales

[forrestang 10]

The blue/red/purple lines where much better than those triangles.

[Mr_black 10]

slow day 2 scalps with trend

3 scalps with trend ......

[thalestrader 14]

The blue/red/purple lines where much better than those triangles.

 

I posted the trades so long after the fact that I figured I should exercise a little "CYA" in case the ninja-experts were out and about.

 

Best Wishes,

 

Thales

[thalestrader 14]

Took you long enough to see the light.

 

Just send 20% of profits to my paypal and we will call it even.

 

As I am currently sim trading crude, I'll need access to your sim paypal account.

 

Best Wishes,

 

Thales

[MidKnight 12]

Good first reaction from S yday. Unless it is totally obvious, I won't be buying there unless it makes a new low, preferably below 1.5833. I'm keen to look for shorts in the immediate R and of course in the lower edge of that main R zone we just exited from last week. Shorts in the zones are scaled out less aggressively in 1/4ths, longs more aggressive in 1/2s, anything else is scalps (20-40'ish pips) with all in, all out.

[thalestrader 14]

Current view of the ES ... something like that ...

 

I posted this potential short on the ES this afternoon ... it never triggered. Just so that there is no misunderstanding - we try to post trade opportunities in this thread before they trigger. This means that some will not trigger. In this case, a short entry would have been filled on a sell stop placed a tick below the blue line. Price never traded below that point, and instead, made new higs above what would have been the stop loss level. No harm, no foul.

 

 

Best Wishes,

 

Thales

[Cory2679 11]

Current look at USD/JPY...

[Cory2679 11]

Current look at USD/JPY...

 

Or maybe............

[Cory2679 11]

Or maybe............

 

Pulled out for a 2 tick loss (17.1 tick initial risk)...

 

I may have squeezed it too tight...didn't give it much room to breath...

[thalestrader 14]

Current look at the 6E with current B/O as of 8:16 PM EST ...

 

 

 

Best Wishes,

 

Thales

[thalestrader 14]

Current look at the 6E with current B/O as of 8:16 PM EST ...

 

Short @ 1.3914, stop loss 1.3929, profit target 1.3874 all in/all out

 

Best Wishes,

 

Thales

[thalestrader 14]

Crude has traded to and through two more previous daily highs tonight, and each offered an opportunity to scalp some decnet R/R. I did not trade either of these real or demo, and I am posting this chart just to make the point.

 

 

 

Best Wishes,

 

Thales

Edited February 2, 2010 by thalestrader

[thalestrader 14]

Short @ 1.3914, stop loss 1.3929, profit target 1.3874 all in/all out

 

Stop loss to 1.3917, -3 ticks @ 8:42 PM EST, current B/O 1.3809/1.3810

 

Best Wishes,

 

Thales

[thalestrader 14]

Finally had a new, slightly lower low that was immediately bought. I'm moving my stop to 1.3913 (+1).

 

 

 

Best Wishes,

 

Thales

[MidKnight 12]

Hi Thales,

 

Thanks for posting the reply about the leverage of the OIRCL experiment. I now better understand what you are up to. I hope my query wasn't perceived as interrogating or chastising, it was mere curiosity.

 

With kind regards,

MK

[thalestrader 14]

Stopped at +1 on the short and the current look 6E shows a potential long sequence.

 

Best Wishes,

 

Thales

[thalestrader 14]

I hope my query wasn't perceived as interrogating or chastising, it was mere curiosity.

 

No problem at all, MK. My horns are still a bit twisted, but not by you or any of the thread's regular participants.

 

Best Wishes,

 

Thales

[MidKnight 12]

The markets are sorta idle at the moment so I wonder if I can toss a question at you? In talking about trading off various degrees, I think I have seen you mention that it is a mistake to enter off the smaller degree and manage it from the smaller degree (or was it manage from the larger degree?) with the intent of trading for the larger degree. You said something like most do that way and it is a mistake. I wonder if you could elaborate on that thinking?

 

Cheers,

MK

[thalestrader 14]

Stopped at +1 on the short and the current look 6E shows a potential long sequence.

 

And that is what a -1R full stop looks like, and that is what a stop loss is for.

 

Best Wishes,

 

Thales