Interesting thread and egy. Keep those charts coming, I'll definitely be popping in here to offer my two pennies throughout trading hours
Interesting thread and egy. Keep those charts coming, I'll definitely be popping in here to offer my two pennies throughout trading hours
Possible resistance on GU. Looks just like the support/resistance shelf could hold. I would like to see it retrace then coil creating a push towards a double top.
Closed half of the position in 113.317, 20 pips and moved my stop loss to breakeven. Letting the rest ride because I'm going to bed. Good night
With reference to the GU chart I posted above, post #17. I took the short based on this possible pattern. I borrowed this chart from http://www.nobrainertrades.com/2009/...-breakout.html
When I first began, I stumbled across many trading egies. I thought, Holy shit! , these are amazingly systems. All I must do is follow the indiors, and I am set. After not having any instant success using a system, you begin to think Shit, I am not banking any pips, I want to find another holy grail.
I had a small suspicion that this was going to be harder that I thought; however, I was still naive in believing I'm just a system away from making it huge. 1 afternoon, I stumbled across Ken Lee's thread. I began reading what I could in that thread. The funny thing is, even when you're reading a thread and looking back in a chart, you think that trading is simple and all you have to do is look for the ideal pattern or candle rod formation. So then I discovered pdf's that he'd published on EO Hater's trading method. I browse through all the documents and believed I had finally arrived. So 2010, in February, I became a full-time trader. When I originally began trading, I had the preconception that I wished to exchange the 15 minute chart as I wished to ch every movement , up or down, and scalp my way to financial freedom. I was glued to some charts waking up at 5:30 in the morning and staring all through the afternoon trying to grab the huge move. I would demonion trade every installation advoed in the computer system.
I think every newbie trader realizes there are exceptions to each setup, and there are no absolutes in trading. Just because you think you have the correct installation doesn't indie that you are going to ch 100 pips. That happened to me. I began to find out some of the scenarios just didn't work how I thought they would. Finally, I would just discard them entirely thinking this just doesn't work so it must be incorrect. I would win some but lose even more. This would go on for many months. There were instances when I would get so frued I began revenge trading. I wished to see if I could blow off my account because I was pissed. However, you know what, it was really hard to earn money losing transactions sometimes because I would just take arbitrary transactions, and those would wind up doing pretty well. Luckily, I was demoing so it was just plogical damage. There are pros and cons with demonion trading. One of them is you can always begin all over . Whenever I would get down $500 to $1000, I would just reset my account. My motive was that this time I'm going to take this seriously. Additionally, I told myself that when I can create 5k on a 10k account then I could begin live trading with large bucks.