Tuesday, December 20, 2011
don't let a winner turn into a loser!
I missed out by 1 pip, but could've caught it at $3 positive (I moved my stop closer) and then at .30c when I should've closed out.
I t was one of Dom's calls that I modified because I got in late
Thursday, December 15, 2011
TITZ:3 I bottled it and missed out on 200ish pips
I entered at a good spot 1.5462 anticipating the move up, My stop was at 1.5429, price came close to my stop which was just below the 200 MA.
I could start to see a downward slope starting to develop, which spooked me and I resolved to get out the next time price came up to my entry.
I got 1 pip out first and then took the other 2 10 minutes later instead of riding the ulcer roller-coaster.
Lost Opportunity is better than lost capital, but this opportunity would've had me back at break even (grr).
I must hold fast to my convictions and have confidence in the analysis.
Monday, December 12, 2011
TITZ:1 GBP AUD
The 1st trade following the TITZ test,
Be Bold - be consistent and disciplined, go in 3 lots and scale profits out.
Although Scaling out is not how Grant does it because in general you don't scale out losses.
I can't remember why I chose to Sell, maybe 'cause the curve was leveling out and it looked like the 23% would hold as resistance, anticipating a continuation down.
On the 5 minute you can see some strong momentum down which would have encouraged me.
I held the stop open to see if it would bounce, which was a test on discipline.
TITZ:2 GBP AUD
Kind of a coin toss, I saw the 15m bounce off the 200, it was a 23% retracement and in the direction of the shorter trend (Bullish), I couldn't find any divergence and was leaning to Sell until I figured that would be counter-trend.
I saw 25pips looked to be the harmonic number on the 1 Hour.
I went in with .03 lots with the idea of scaling out once I had $5 profit and managed to take $1.80 and then put a trailing stop of 20 on it.
I didn't put a TP but was looking at the previous (yesterday's) peak as a Target. I walked away and missed the top.
When does "If not monitoring, place 1:1" apply?
I put the stop at 45 points, a little less than TITZ:1 which was 50 ish.
The 2nd 2/3rds closed out 1 pip less than the 1st 1/3rd.
Tuesday, December 6, 2011
GBP AUD missed by 3 pips!
I saw a support line forming around 1.5209 which was also near the 78 fib retracement and possibly a 23% on an smaller move.
I also found a slim divergence on the AO by about 20 points.
I knew it was a tight stop, thinking the support line would hold or it wouldn't - but I think support lines are a bit more fuzzy
The GB PMI came out positive and there was a very short spike at 22:28 but by 22:30 it was back to normal and started to go down.
I was thinking the PMI might pull it up, but it didn't, so I left it - I could've/should've closed out for a couple of pips loss but went to bed instead.
AB was anticipating low AU Bank numbers and for the AUDUSD to drop (and it did for 2 hours but returned in 7), which was probably the cause for my failed trade to go 1:2
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