Took the long at the edge,help the long thru news but chickend AFTER that. Next time, if I were to hold thru the news, I may as well hold it all the way.
Then took the short hours later. 9 + 30 pips I think...
Monday, September 21, 2009
Trade review 090918
Took the long at the edge,help the long thru news but chickend AFTER that. Next time, if I were to hold thru the news, I may as well hold it all the way.
Then took the short hours later. 9 + 30 pips I think...
Thursday, September 17, 2009
Friday, September 11, 2009
Trade review 090911
My trade today. I think it was a graet trade we good setups. Got spooked out twice tho. The first time at LMO with the spike. The second just before the news when the red candle (and hence bull div) formed. Should I have held?
Thursday, September 10, 2009
Wednesday, September 9, 2009
Tuesday, September 8, 2009
Right after summer...
A friend posted this trade right after summer. I think it's brilliant, but you judge for yourself.
Wednesday, June 10, 2009
Watching differing time frame
It is always good advice to check different timeframes when trading. The general rule of thumb is to watch a timeframe that is roughly 4 tmies apart to give us an idea of what is happening in the 'long term' and 'short term'.
For example, if you trade on the 15mins time frame (tf) then watch the 1hour (tf) for what's happening in the longer term. If you trade on the 5mins then watch 30mins, as that's the closest. Often times when we do this, we see that the longer term may show bullish indicator signal while the shorter term show bearish indicator signal. The contradiction gives us reason to pause and wait for all signals to align before pulling the trigger on a trade.
I found it to be true also, that whenever indicator signals align, there are more chances for the move to be stronger.
But I have also found looking at closer timefram helps. For example if you trade on the 15mins tf, look at 5mins, 15mins, 30mins and 1hr tf for clues. Wouldn't the indicator contradict each other and add more confusion then you ask? Yes it would.
What IS consistent however should be the price action (and remembering that all indicators are lagging). Afterall the summation of 5min will give the 15min and the summation of 15min will give the 30mins and so on and so forth.
So while the indicator may contradict, the price action in different time frame forms a stream of continuous information, painting a consistent picture throughout.
Knowing this is advantageous to us because
For example, if you trade on the 15mins time frame (tf) then watch the 1hour (tf) for what's happening in the longer term. If you trade on the 5mins then watch 30mins, as that's the closest. Often times when we do this, we see that the longer term may show bullish indicator signal while the shorter term show bearish indicator signal. The contradiction gives us reason to pause and wait for all signals to align before pulling the trigger on a trade.
I found it to be true also, that whenever indicator signals align, there are more chances for the move to be stronger.
But I have also found looking at closer timefram helps. For example if you trade on the 15mins tf, look at 5mins, 15mins, 30mins and 1hr tf for clues. Wouldn't the indicator contradict each other and add more confusion then you ask? Yes it would.
What IS consistent however should be the price action (and remembering that all indicators are lagging). Afterall the summation of 5min will give the 15min and the summation of 15min will give the 30mins and so on and so forth.
So while the indicator may contradict, the price action in different time frame forms a stream of continuous information, painting a consistent picture throughout.
Knowing this is advantageous to us because
- We are also able to perceive price as a continous flowing story, instead of snap shots taken in the 2 time frame.
- As a result, giving us more understandnig and clues as to what is happening
- And that, hopefully, translate to good pips
Subscribe to:
Posts (Atom)
Posts
