Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
My first 3 trades were right on the direction, but they all got stopped out. My last trade was stupid. I thought that we are in the area, but MACDs told me that it's not.
It's good that I didn't trade anymore. I have to get my mind back on the rail after last couple days of trading.
Here are my trades and summary:
I'll start fresh next week. I should take a break and stay away from my charts over the weekend.
Something that I would get myself into trouble with was not watching the 144 for my entry. The 144 should be clearly saying to go in, and if not, then stay out. You tend to get in a little later than I do on the run, so maybe the 233/377 would be the chart to confirm, not sure, but having the direction was good and you just had some bad luck on your entries.
Watch that 144 for your entry. I get lazy on that chart.
You suffer from the same disease as me! Not trading what you see and not being open to what the market is telling you.
When I heard you say that I started laughing. You mention 'crazy' market and other things too. The market is technical and we have to be open to both. I can tell you going through Feb-May of 2011 has changed my thinking.
Just some advice, not criticism in any way. You are on the same path as me.
Could you tell me what made you think long at the first mark you placed? It was 62% not 76%, 144 MACDs was over the rail, 233 below ZL 377, 610 somewhere between bands. I saw that Nindi took long in the same area, but she had fibs from another bar and she had 76% area. I'm looking at the charts and I don't see long there. Maybe I'm missing something?
1. Long term was saying up before down to me, so I was looking for a deep retrace to go long, or for it to head long and then short it.
2. 144 sitting on support, previously cut over from side. Possible bull flag.
3. 233 sitting or was on top part of lower band, cut over from side.
4. 377 was looking very bull flagish with the curve the way it was setting itself up. Cut hard off the side.
5. 610 looked like a bull flagh to me. Bounced solidly off the lower band.
6. 987 has separation and looked like a bull flag and did have some bullish divergence.
7. 1597 had HUGE separation from the drop last night. Would expect a decent retrace, or at least to the band. This is decision area on that timeframe.
8. 4181 had some separation and could possibly curve up, but nothing looking super great so don't expect 15 points.
9. The other two MACDBB's were saying (STUPID, more down).
10. The bar setup was BEAUTIFUL.
11. It was a 76 retrace and 61 retrace dependent upon where you took your measurement.
For me it is just a picture that looked long. I don't even break it down like that anymore and I just use my 'leanings' to decide. It could have EASILY gone the other way, so don't feel bad for missing it. To me, it was either here or it was going short for a bit and since there was no great setup for short YET, I thought go ahead.