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

nervously hanging on to shorts in ZN. sold at 28.5, sold at 23.5 looking to sell again if it stops and starts to fall again from here. Stops at the top line.

(while I know I am picking the top in the recent trend, a few signs have made it a reasonable time for me to do so)

Goes directly back to the take profits discussion.... damm I should have bought back, taken profits in the mid teens. Oh well. this was not part of the plan on this one. (plus I went to lunch - giving myself a weekly Friday treat... man it was good :))

 

Thalestrader... do you happen to have a summary of your ideas in a previous thread. .... just to save me searching through countless posts?

zn1.png.fcb12422f10aee37beadbd399283034f.png

Share this post


Link to post
Share on other sites
This style of buy-and-hold and don't touch makes me nervous.

 

With the normal management, both hits the account has taken on the EJ offered what I see as profitable stop-and-reverse opportunties...not only would it have reduced the loss, but would have been net profitable both times.

 

As you know, I've been considering the 'place orders and let it do its thing' approach, but for the time being I'll probably stick the the 'normal' way of managing trades.

 

I understand this is basically an 'experiment,' anyway. Just my :2c:

 

Also, the first entry was far to premature for the expectations I set for the trade. I knew as much to expect at least one new low.

 

The second entry was too late to initiate the position (or at least not as favorable a position as I would have liked. The ideal buy point, had I been following properly, would have been a buy stop 125.35 or 125.65. Had I been paying attention, rather than slacking off sleeping, I would have liked to have bought at 125.35, added at 125.65, and raised the stop to 125.80 on the break above 126.25.

 

So, the results so far have more, in fact, everything to do with poor execution of plan on my part than on the plan itself.

 

For what its worth, my daughter told me to do just as you said I should do on the first trade - stop and reverse. But, I guess it just didn't matter enough to me. Perhaps I shall have to take this more seriously, and only initiate positions when I can do so as I would do in an account that mattered to me. In other words, I guess I should trade it as though my equity depends upon it, and not as though its just a $25 chip I found on the casino floor for a free drop in the slots.

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Thalestrader... do you happen to have a summary of your ideas in a previous thread. .... just to save me searching through countless posts?

 

Sorry, DugDug, but this is it. There is a scattering here at TL. I only have one post elsewhere and that was to ask about changing forex brokers back when I was starting with my daughter's trading. Otherwise, everything is in this thread. I have considered putting together a sort of uberpost summarizing some of the more important things I lok at, and then asking James or one of the mods could slip it into a first post position, but I have to write it out first, and I just haven't had the time. Someday and soon, I will put together a summary. However, I kow this has become a "bloated thread," but there is a lot of good stuff in here, not just from me, from many of the thread's participants. So I encourage you to try to slug your way through it over time. I know I have learned alot myself from this thread.

 

Best Wishes,

 

Thales

 

PS I thought maybe daedalus would write the book - if so, daedalus, I promise to be the first to buy it off the presses.

Share this post


Link to post
Share on other sites
...both hits the account has taken on the EJ offered what I see as profitable stop-and-reverse opportunties...

 

Although, on the second position, rather than stopping and reversing, it would have probably been more prudent to pull the EJ and short the EU...

 

With hindsight OR with how the charts looked at the time, I believe the EU would have been the better short opportunity.

EU15M2.jpg.64871f804cec0848ea1c8cd7636f0d5c.jpg

Edited by Cory2679
attached wrong chart

Share this post


Link to post
Share on other sites

Current look at the weekly EURUSD shows the EU about to undo in 10 weeks the price movement it took almost 30 weeks to achieve. Any rally from these levels is likely to resolve itself in a selling opportunity to test the October 2008 lows. I hope that bounce does develop, otherwise I'm going to just have to close my eyes and sell - I would hate to see this thing move down another 20 handles without me.

 

attachment.php?attachmentid=18543&stc=1&d=1264786293

 

 

 

Best Wishes,

 

 

Thales

5aa70fbaee045_2010-01-29EURUSD1.thumb.jpg.695a80a9cc47fc4b9cc01addeeb0b9ad.jpg

Share this post


Link to post
Share on other sites
Looks like someone woke up the Buck.

 

 

I forgot to post the daily dollar yesterday ... this is as of yesterday's cash close, and I will post an updated chart after today's cash close of today's action.

 

Best Wishes,

 

Thales

5aa70fbb8fd47_2010-01-28DXYO2.thumb.jpg.f869b69cd3a2ce0cda4d365280dbb610.jpg

Share this post


Link to post
Share on other sites

stopped out for loss at top level.

 

Continual lesson to ponder:should I have cut earlier at BE of 26, as this popped back through the level with some vengeance?

 

I never really know and usually just see how it goes on the day. I have stopped myself out early plenty of times just to end up being right. I have always figured I am better off loosing a few extra pips than getting off a trade that might make me much more.

 

final thoughts... I will go it again next week if it lines up again.

 

Oh well Friday evening in the UK, I'm off to the pub.

enjoy.

zn1.png.2bb8923d553b2482014b98591ac79c0d.png

Share this post


Link to post
Share on other sites
stopped out for loss at top level.

 

Continual lesson to ponder:should I have cut earlier at BE of 26, as this popped back through the level with some vengeance?

 

Hi DugDug,

 

First, thank you joining us and thank you for posting your charts. One thing that may facilitate discussion of your trades would be if we could se at a glance you entry, stop, and profit targets (if any - more on this in a minute). What we have adopted here as a sort of easy to view short hand is to place a blue line at entry, red line at stop loss, and green line at profit targets. This lets any one of us see at a glance how you had planned the trade, which brings me to the subject of profit targets.

 

If I understand your trade(s) today, you were short from two different points. It looks as though you had some good movement in your favor, and then both positions were stopped for losses. Did you have profit targets? Do you trade with targets? I am not being critical one way or the other - we each have to trade in our own way, and I am just curious if you had a profit objective in mind or not, and if not, how do you manage your stops?

 

Have a great weekend!

 

Best Wishes,

 

Thales

Share this post


Link to post
Share on other sites
Crude has traded from yesterday's high to within 13 cents of yesterday's low, and it looks like it might be getting close to time to get long of some crude.

 

 

attachment.php?attachmentid=18545&stc=1&d=1264788422

 

Crude finally worked its way to yesterday's low, and rather than giving a long sequence it broke that level and gave a nice short opportunity with a brisk 50+ penny drop.

 

attachment.php?attachmentid=18552&stc=1&d=1264792987

 

Best Wishes,

 

Thales

5aa70fbb9926b_2010-01-29Crude1.thumb.jpg.4ab003328ab70e31a45849254e53f515.jpg

Share this post


Link to post
Share on other sites
yeah, really. I respect those guys more than the paper traders here.

 

I cannot even fathom your motives for posting in this thread then, other than to pad your ego in a way that is apparently only possible through an anonymous internet forum.

 

Why not take this thread off of your subscription list and move on. There is no one making you click on it other than yourself. You are free not to click as well.

 

Thank you,

 

Thales

Share this post


Link to post
Share on other sites
nervously hanging on to shorts in ZN. ...
stopped out for loss at top level.

...

 

Something like this was before my eyes when I wrote about Bund forming a top:

attachment.php?attachmentid=18562&stc=1&d=1264796431

 

There is no exact correlation, but they look similar.

tl-01.png.cd515a97e3c3fe3e299255c6016224c3.png

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

    • 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/     
    • What a wild year.   AI seems to be appearing everywhere you look, Paris hosted a weird Olympics, unrest continues in the Middle East, the US endured a crazy-heated election, and the largest rocket ever to fly successfully landed in a giant pair of robot arms.   Okay, but what about the $money stuff?   Well, this year we've seen a load of uncertainty - inflation is still biting and many businesses have gone down.   Property has been very fractured, with developments becoming prohibitively expensive, while other markets have boomed.   It hasn't been an easy ride, that's for sure.   However, the stock market has had some outstanding results, and for those who know how to trade, some have done VERY well for themselves.   Some have replaced their incomes. Some have set themselves up for the rest of their days on this planet.   How about you? How did you go? Author: Louise Bedford    Profits from free accurate cryptos signals: https://www.predictmag.com/  
    • U Unity Software stock watch, attempting to move higher off the 22.4 triple+ support area at https://stockconsultant.com/?U  
    • TSSI TSS stock, watch for an ascending triangle breakout above 11.49, target 15 area at https://stockconsultant.com/?TSSI
×
×
  • Create New...

Important Information

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