Hi Sam,
how are you keeping these days? Missing your posts buddy, hope all is well though.
KR
Sam's Journal [Awarded Title: The Master of Famous Setup ]
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francisrama
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wiseambitions
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Re: Sam's Journal
At least you had the fortitude to get out and take a bit of gain before it disappeared, even though a powerful move was initially missed. I think once the price has gone a few pips wrong side of the green line, perhaps near to or even to touch the red too, it puts into question the sense of hanging in on a trade.
I had a chat with a well experienced trader the other day and we agreed that if the trade fails to go the initial direction after some time (I would suggest 8 candles) it calls into question the strength of the starting signal, and it wouldn't be a bad idea to get out instead of experience full stop loss or worse.
I had a chat with a well experienced trader the other day and we agreed that if the trade fails to go the initial direction after some time (I would suggest 8 candles) it calls into question the strength of the starting signal, and it wouldn't be a bad idea to get out instead of experience full stop loss or worse.
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
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immy
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Re: Sam's Journal
wiseambitions wrote:At least you had the fortitude to get out and take a bit of gain before it disappeared, even though a powerful move was initially missed. I think once the price has gone a few pips wrong side of the green line, perhaps near to or even to touch the red too, it puts into question the sense of hanging in on a trade.
I had a chat with a well experienced trader the other day and we agreed that if the trade fails to go the initial direction after some time (I would suggest 8 candles) it calls into question the strength of the starting signal, and it wouldn't be a bad idea to get out instead of experience full stop loss or worse.
my 2 cents worth! Just follow 1. A concrete predefined exit plan or 2. A variation of 2-3 exit options but must always use either one of them instead of exiting on "feel" or "fear". Its not about being clever, its about 1. having an edge 2. following your edge. IMHO
So if you follow green line, follow the green line, one variation is that if price goes too far away from green line and that if it were to turn around and close of green line would mean giving back too much, follow alternative plan in such situation which should also be a concrete option that is trail behind 5 consecutive green or red candles but only if the angle of price and green line is expanding. cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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Dave
- AIMSter
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Re: Sam's Journal
Nice one Sam, as soon as I turned on and saw the yens had dropped off their perch I was hoping you'd been able to grab some during Asian session. Well done (wd)
Now, I choose to make a profit in trading.
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Darren
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Darren
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francisrama
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Re: Sam's Journal
Hi Sam,
very interesting/good/profitable trade into wave4!!! Well done mate!!!
KR
very interesting/good/profitable trade into wave4!!! Well done mate!!!
KR
I Am, That I Am!
Fran
Fran
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Dave
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francisrama
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Re: Sam's Journal
Hi Sam,
Nice trades!!!
just in case this could be useful -if not, please just disregard-.
On small TF, when price is moving sideway, I used to draw "Highest High" and "Lowest Low". Only if price breaks out these limits would I take the trade using AIMS (chart below)
KR
Nice trades!!!
just in case this could be useful -if not, please just disregard-.
On small TF, when price is moving sideway, I used to draw "Highest High" and "Lowest Low". Only if price breaks out these limits would I take the trade using AIMS (chart below)
KR
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I Am, That I Am!
Fran
Fran
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francisrama
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