Thread: Unimportant fellows equally unimportant journal v2.0

Originally Posted by ;

Here's a setup I'm not taking. A wedge with completely formed upper border, providing a chance to buy on the 3rd approach of the bottom border. But, there's a divergence against this notion, that's the reason why I'm only watching this. It probably might be worthwhile to skip the buy and market the break of the bottom border, as though you were Placing the buy trade, but I don't see a dependable high formed nonetheless.




Both green dotted borders are parallel.

The divergence was stuffed following the bottom border was broken. What we can see is that the centre touch of the top border is not ideal, therefore maybe hinting a similar inaccuracy will occur with the bottom border, entering it marginally and then making a whole clean break. Of course, this could also be wishful thinking and I'm only watching this in my mind.


An intra-day stop would've been used, and I'm not overly certain about the use of intra-day stops, though I have decided that I could trade some diamonds and combs with local stop positioning. Mature members and Igrok himself recommend using external the day's range stops only, so I'm conscious that I could regret this.


Also, here's an after the fact chart. To me it only became completely visible after being busted, as I could not specify the lower rising border of the right hand side of this bead.

Originally Posted by ;

USDCHF market order. Stop above the session's top. Sell order below yesterday's low. Trade will be against the MMOW but together with the MMOM. The upper and bottom borders are not parallel, but the formation is slightly narrowing. I could buy right now using a stop below yesterday's low, but I'm not sure of that, so I choose to trade the break instead.

Because the range was little enough, I kept putting the stop using a reverse beyond the day's range, and was stopped out for a total of 3 times. Ouch. The market finally made a blank touch before eventually going downwards.

Originally Posted by ;

Got greedy and was punished accordingly. In fact, it looks like there was an 18.3 from the contrary direction, giving me an idea to reverse and close, but the time was a bit early for the template, and I wasn't at the PC at the moment.



The next goal: NZD/USD trendline break buy. A degree for stops was offered, so I took it. TP according to ADR, in this case it's roughly 80 pips or 80 percent of 44ADR. Now the price seems to be turning around, so I'm placing a reverse order, using a stop above the current sessions high. Trade is against...

On this trade I flipped, and afterwards on placed the stop at BE. I didn't have a TP point based, so the idea was to hold the transaction for at least a few hundred pips. I was stopped out at break even, had I retained the stop at the original position, I would've stayed in the trade. After those 2 shirts the market went to 0.735, now it's above the original entry point.

Originally Posted by ;

Because the range was small enough, I kept putting the stop using a reverse beyond the day's range, and was stopped out for a total of three occasions. Ouch. The market finally made a touch.

Ouch, that sucks when that occurs. In hindsight would you state that the transaction failed to go due to the time it was entered by you to plan? E.g, low liquidity on the pair, range not defined yet as a result of European market not open yet, etc..

Originally Posted by ;

Ouch, that sucks when that happens. In hindsight could you state that the trade didn't go to plan because of the time you entered it? E.g, low liquidity on the pair, range not defined yet as a result of European market not available yet, etc..

Do not know, but the truth is I was provided with opportunity to undo, so I did. When it actually happened I felt discouraged and beaten up, but now I think that this is one of those times when a freak situation such as this occurs and there is nothing you can do, but to keep on truckin'.

I wish you a rewarding and a happy 2011. May we ever keep improving our trading and discipline skills, rather than stop until this financial web keeps present. I'll be completely back to trading next year for sure this time.

An early diamond buy order. I have placed the stop beyond the low of the major diagonal. Seems like we have a bigger diamond, so I guess it might make sense to shut and reverse the position as soon as the top border is broken (in 1.3335 would be nice), with a stop above the week's top, as the major diagonal of the bigger diamond is upwads. Let's see what happens next, maybe not going to sell unless this buy is a legit commerce.

Originally Posted by ;

An early diamond buy order. I've put the stop outside the low of the major diagonal. Seems like we've got a larger diamond, so I guess it might make sense to close and undo the position whenever the top border is broken (at 1.3335 would be fine ), using a stop over the week's top, as the major diagonal of the larger diamond is upwads. Let's see what happens next, maybe not going to sell unless this buy is a legit commerce.

Stopped out. The formation might still become some thing , a wedge or a diamond.

Seems like we've got a diamond in the procedure of creation on EUR/CHF. I will try to ch the next approach of the narrowing triangle, contrary to the leadership of the main diagonal. SL placed over the high of the main diagonal, entry you can see on the chart. TP purpose of 1.235 appears sensible.





I attempted projecting the high from the following manner, but it seems that it cannot be utilized in this situation because, and also the stop will be not too appealing.

Let's begin anew. Risk version for now - 0.33% equilibrium per transaction. This is enough to be more serious than demo trading, although not serious enough to do much harm on your own account.

Igrok procedure just.