Lijing wrote:Hi dragon33, thank you for your explanations. However, how do you handle these situations?
Analysis
I used custom candles to mark this momentum. Then I saw that price would not close above the previous candle. So I entered short off the low of the red M15 bar at the price tag.
Uhm, what did I do wrong?
Last edited by dragon33 on Tue May 18, 2010 2:27 pm, edited 2 times in total.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!
Lijing wrote:Hi dragon33, thank you for your explanations. However, how do you handle these situations?
Analysis
I used custom candles to mark this momentum. Then I saw that price would not close above the previous candle. So I entered short off the low of the red M15 bar at the price tag.
Uhm, what did I do wrong?
Looking at your chart, the trade would of worked twice. You tried taking the trade too late.
Yeah, I saw there were long trades/must have been long trades earlier, but I was no where near my computer.
Using the same style as the short trade you marked, would you have taken the earlier short trade also (around ~1100 hours broker time)? If not, why not?
Lijing wrote:Yeah, I saw there were long trades/must have been long trades earlier, but I was no where near my computer.
Using the same style as the short trade you marked, would you have taken the earlier short trade also (around ~1100 hours broker time)? If not, why not?
I do not reverse immediatly that's the reason why i marked the second trade.
I like to trade after H1 momo except when when price has made a new high and the second high is lower then i only take M15/5 trades.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!
20 pip spread ? What broker are you with ?
