Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

thalestrader

Reading Charts in Real Time

Recommended Posts

Short entry triggered on GU

 

I was still asleep when this action occurred, but the GU short you correctly identified offered a very nice early entry on the reaction rally prior to the decline to the larger lower low.

 

I haven't shown the GBPJPY, but that also offered the same early entry on a smaller 123.

 

Best Wishes,

 

Thales

5aa70f915fb46_2010-01-04GBPUSD1.thumb.jpg.ace42909bdf082a6c63a083183647c5c.jpg

Share this post


Link to post
Share on other sites
Looks like USDJPY might be figuring out which way it wants to head.

 

It has a lot of room to roam to the downside if it wishes. The range on the monthly chart between a bullish breakout and a bearish continuation is nearly 1000 pips.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Close enough -exited my GU short

 

Final results: 1st half = 30.6 ticks, 2nd half = 4.6 ticks, average = 17.6 ticks...

 

 

Nice trading, EmNQ and Cory. Though EmNQ may have to ask James to change his user name to reflect his currency trading chops.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites

First day back live and my management is rusty. I took really nice entries today (at least I thought so). Pure textbook stuff that I saw develop and pounced on when the time came but I was so ancy to take profit I ended up missing out on what I deserved.

 

As per my management rules I should've had an additional +2 ticks on the first trade, and an additional +4 (at least) on the second trade. But I bailed out of newbie fear and it cost me an easy +50.00/per contract. So i'm done beating myself up for the day. Gonna get my head on straight and come back tonight with something to prove. :)

 

Two Trades, Both in the BP @ 6.25/tick: Net P/L: +56.25/per.

 

I should mention these trades were on the 89Tick chart using OEC's data.

1.png.8b1a3ec20b15b43987c1268ffe783cde.png

2.png.4d16c90d14b72c8d60926b3b7e561cfe.png

Share this post


Link to post
Share on other sites
First day back live and my management is rusty. I took really nice entries today (at least I thought so). Pure textbook stuff that I saw develop and pounced on when the time came but I was so ancy to take profit I ended up missing out on what I deserved.

 

As per my management rules I should've had an additional +2 ticks on the first trade, and an additional +4 (at least) on the second trade. But I bailed out of newbie fear and it cost me an easy +50.00/per contract. So i'm done beating myself up for the day. Gonna get my head on straight and come back tonight with something to prove. :)

 

Two Trades, Both in the BP @ 6.25/tick: Net P/L: +56.25/per.

 

I should mention these trades were on the 89Tick chart using OEC's data.

 

1) Even those of us who can no longer wrap themselves in the "newbie" label as an excuse can still have our share of "wouldacouldashoulda" trades.

 

2) You made 9 ticks, which is 2.25 ES points (though on the BP it is half the value/tick), but the point is, how many "veterans" are out there posting on the internet about having a "1-2" ES point/day goal, i.e. 4-8 ticks profit/day? Quite a few, in my experience. And a number of them have had the ______s (keeping it clean for when my daughter gets home and reads this), to write instructional trading books that sell for $40, $60, $80 or more/copy? So, let me know when your book is coming out!

 

3) Your willingness to walk away when you aren't performing according to your trading plan shows, in my opinion, an admirable degree of discipline.

 

4) Nice trading, and thanks for sharing with us!

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Final results: 1st half = 30.6 ticks, 2nd half = 4.6 ticks, average = 17.6 ticks...

 

17.6 ticks. Let's round it down to 17 ticks and find the ES equivalent of 5.5 ES points.

 

There are many who read, but do not post to Brownie's PnL thread who would be quite happy if they could pull down an average profit of 5.5 ES points/contract. And let's not forget that you held the position to a first profit target equivalent to 7.5 ES points, and that your second half was stopped out with better than a 1 ES point equivalent. That is a good day, by any measure.

 

I do not mean to start comparing trading currencies to trading the ES, but I do think it is enlightening to consider how many ticks some of you are pulling out of the market lately, and how you would have to do trading what is one of the most popular trading vehicles of day traders, the ES.

 

Also, for those who trade the ES, this approach offers plenty of opporunity there as well. I thought to post this this morning, but then I got word of Candy's death, and it threw my concentration off. But here is the ES, using nothing other than L-H-HL for a trigger, and a 127 fib expansion for a profit target (first chart), and this would have yielded 40 ticks, or 10 ES points profit from buy stop to sell limit. Even exiting at the prior high, using the 100% (A=C) expansion to tighten the order would have yielded over 7 ES points (second chart).

 

Wouldcouldashoulda applies, of course. As I said last night, I have never, ever lost a trade that I took in hindsight.

 

attachment.php?attachmentid=17164&stc=1&d=1262624580

 

attachment.php?attachmentid=17165&stc=1&d=1262624632

 

 

Best Wishes,

 

Thales

5aa70f91b0d85_2010-01-04ES1.thumb.jpg.87275a4d4b71c50ed438602ad31082af.jpg

5aa70f91b7ef3_2010-01-04ES2.thumb.jpg.bc66a36c97bed77f41229e6b3e4b95bd.jpg

Edited by thalestrader
typo

Share this post


Link to post
Share on other sites
I loking for the same thing (showing the 6E futures contract).

 

I'm not going to be taking this one, but if I were, I'd be saying "Here we go!"

 

This is probably going to be a good one, because I have no reason not to take it other than I want to get back to trading only NY 7AM-12PM EST and Asia 7PM-9PM EST.

 

attachment.php?attachmentid=17168&stc=1&d=1262626258

 

If you look betwen the entry point and stop loss lines, you might see a little 123 that could indicate trouble for any nascent short position here if price decides to retrace higher than 1.4420-22 or so.

 

attachment.php?attachmentid=17169&stc=1&d=1262626641

 

Best Wishes,

 

Thales

5aa70f91c3f7c_2010-01-046E2.thumb.jpg.a672531c1a0d294959eca593f4771a9a.jpg

5aa70f91c9b10_2010-01-046E3.thumb.jpg.c11da8d71b4e14d58325a13e68af9ef7.jpg

Share this post


Link to post
Share on other sites

Also, for those who trade the ES, this approach offers plenty of opporunity there as well. I thought to post this this morning, but then I got word of Candy's death, and it threw my concentration off. But here is the ES, using nothing other than L-H-HL for a trigger, and a 127 fib expansion for a profit target (first chart), and this would have yielded 40 ticks, or 10 ES points profit from buy stop to sell limit. Even exiting at the prior high, using the 100% (A=C) expansion to tighten the order would have yielded over 7 ES points (second chart).

Oh how it's awesome when you talk about the futures! Currencies just get all the attention these days.

 

I didn't see the ES that way this morning. I actually entered an NQ short this morning.

 

But I saw a short in ES if anything below 17.50. In hindsight I am seeing the long though.

 

I think I just had a bad read today.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • NFLX Netflix stock, watch for a top of range breakout at https://stockconsultant.com/?NFLX
    • SMCI Super Micro Computer stock watch, attempting to move higher off the 34.06 support area at https://stockconsultant.com/?SMCI        
    • UPST Upstart stock watch, pull back to 68.15 gap support area at https://stockconsultant.com/?UPST  
    • Why not to simply connect you account to myfxbook which will collect all this data automatically for you? The process you described looks tedious and a bit obsolete but may work for you though.
    • The big breakthrough with AI right now is “natural language computing.”   Meaning, you can speak in natural language to a computer and it can go through huge data sets, make sense out of them, and speak back to you in natural language.   That alone is a huge breakthrough.   The next leg? AI agents. Where they don’t just speak back to you.   They take action. Here’s the definition I like best: an AI agent is an autonomous system that uses tools, memory, and context to accomplish goals that require multiple steps.   Everything from simple tasks (analyzing web traffic) to more complex goals (building executive briefings or optimizing websites).   They can:   > Reason across multiple steps.   >Use tools like a real assistant (Excel spreadsheets, budgeting apps, search engines, etc.)   > Remember things.   And AI agents are not islands. They talk to other agents.   They can collaborate. Specialized agents that excel at narrow tasks can communicate and amplify one another’s strengths—whether it’s reasoning, data processing, or real-time monitoring.   What it Looks Like You wake up one morning, drink your coffee, and tell your AI agent, “I need to save $500 a month.”   It gets to work.   First, it finds all your recurring subscriptions. Turns out you’re paying $8.99 for a streaming service you forgot you had.   It cancels it. Then it calls your internet provider, negotiates a lower bill, and saves you another $40. Finally, it finds you car insurance that’s $200 cheaper per year.   What used to take you hours—digging through statements, talking to customer service reps on hold for an hour, comparing plans—is done while you’re scrolling Twitter.   Another example: one agent tracks your home maintenance needs and gets information from a local weather-monitoring agent. Result: "Rain forecast next week - should we schedule gutter cleaning now?"   Another: an AI agent will plan your vacations (“Book me a week in Italy for under $2,000”), find the cheapest flights, and sort out hotels with a view.   It’ll remind you to pay bills, schedule doctor’s appointments, and track expenses so you’re not wondering where your paycheck went every month.   The old world gave you tools—Excel spreadsheets, search engines, budgeting apps. The new world gives you agents who do the work for you.   Don’t Get Too Scared (or Excited) Yet William Gibson famously said: "The future is already here – it's just not evenly distributed."   AI agents will distribute it. For decades, the tools that billionaires and corporations used to get ahead—personal assistants, financial advisors, lawyers—were out of reach for regular people.   AI agents could change that.   BUT, remember…   We’re in inning one.   AI agents have a ways to go.   They’re imperfect. They mess up. They need more defenses to get ready for prime time.   To be sure, AI is powerful, but it’s not a miracle worker. It’s great at helping humans solve problems, but it’s not going to replace all jobs overnight.   Instead of fearing AI, think of it as a tool to A.] save you time on boring stuff and B.] amplify what you’re already good at. Right now is the BEST time to start experimenting. It’s also the best time to find investments that will “make AI work for you”. Author: Chris Campbell (AltucherConfidential)   Profits from free accurate cryptos signals: https://www.predictmag.com/     
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.