Beat TST Combine Via TA with MadeMan aka PrymeTyme
- Thread starter MadeMan
- Start date
OK, I had a moment here to calculate your PnL for the day. We have a serious problem and, as is common on public forums, trolls are involved.
I endorsed you as qualified to represent the professional PATA-ters of ET in a high pressure trading environment, based on your answer to a question presented by a troll in the movie "Monty Python and the Holy Grail".
In response to "What is the airspeed velocity of an unladen swallow?", without hesitation you answered "42". I like the number 42 in the month of October because 42 can be divided by 6 and 7 and one of my favorite Halloween-related jokes is:
Q. Why is 6 afraid of 7?
A. Because 7 8 9
When I looked at your first trade I thought, "Hmmm, the entry long there was not a bad idea, technically speaking".
Price broke a lower channel line from the overnight action by just a few ticks and you went long as soon as price came back inside. You were an early anticipatory long and a proper price action initial target on this counter-trend play would've been the 20EMA at the very least, which price jumped up to right out of the gate. How did you manage to exit that trade at 2758.00?
I didn't quite understand the next few trades and gave up.
HI
well the 42 = The answer to life, the universe and everything *
and your question is part of everything
*Hitchhikers guide to teh galaxy
Well the fact that i got butcherd was that of all trades i took
only one where according to my plan/scenario !!!!
and it was the very first trade .. wich got hit at BE (wich iam happy with) good entry good position management!
yes we dipped thru support , the volume increased but we made no new low (Oct. 17 low) as we formed the spring a long at the break of its high .. would be justified ..
and yes the market did respond immediately in teh favour of my position. wich got me confident right form the start , it really looked like the market will gain some strenght to test the oct. 17 high @2776.75 wich was my target for that trade.. wheras
the SL was set slightly below the Oct.17 low ...
however i moved SL to BE as it was about 15 mins till the Data/News came in.. as i dont want to get f...ed beacuse of some crazy news spikes ..
however price didnt managed to break thru and hold above the midpoint @ 2765.75 .. and came back down..
and my BE got Hit...
i was watching as price went right thru support @2755.50 on
good vol. and i then changed my startegy as a new scenario was
about to unfold.. and i impatiently took a short at the very first
reaction after the decline.. i didnt followed my plan here ..
wich was teh beginning of the butchering..
as i got caught up ina hinge (short entry) .. and i knew that my short is a gamble now..
so i decided to put a limit long above my stop .. as i knew a
breakout of that hinge will be with some momentum...
i thought i would repair a stupid decision that way .. o boy was i
wrong it got even worse .. lol
and sure ..it broke out to the upside .. and i wanted to at least
clopse the position to cover my loss of the short .. wich i almost
managed.. .. but from then on .. the market got me.. and i didnt
trade with a plan.. but just the action... wich is stupid..
but such things happen from time to time.. and should be a remainder that u should stick to your plan, fool !
here the hinge play wich got the ball rolling .. making me go
bonkers!
going thru the rest of teh tardes would be sensless as .. they are not worth mentioning...
cheersAllright Allright
Back on track! or should i say back at the beginning..
Just Plan your Trade and Trade your Plan and everything should be fine or at least not that bad !
yesterday showed us that we most likely will see the lows again
and that the downtrend is still intact..
therefore i was looking out for short setups in firstplace today ..
i did miss an entry earlyier today .. but nevertehless another
entry on the train was on its way.. and i was waiting.. to jump onboard ..
the odds where in favour of that short trades .. as we have a dowtrend in teh background.. where the bears a clearly in controll
we have a recent sign of weakness as we rejected a former midpoint and some real selling pressure arised.. torwards support
support got broken.. and i was waiting for a retest of support
but i also noticed that we are forming a downchannel.. and would
also play a short Off teh supplyline of that channel.. wich i did
and got stopped out.. but the second entry nailed it...
we had some nice space to the left.. as no real technical support was in sight.. i pulled SL to BE and was confident.. all the way down..
cheers
enjoy the weekend
Back on track! or should i say back at the beginning..
Just Plan your Trade and Trade your Plan and everything should be fine or at least not that bad !
yesterday showed us that we most likely will see the lows again
and that the downtrend is still intact..
therefore i was looking out for short setups in firstplace today ..
i did miss an entry earlyier today .. but nevertehless another
entry on the train was on its way.. and i was waiting.. to jump onboard ..
the odds where in favour of that short trades .. as we have a dowtrend in teh background.. where the bears a clearly in controll
we have a recent sign of weakness as we rejected a former midpoint and some real selling pressure arised.. torwards support
support got broken.. and i was waiting for a retest of support
but i also noticed that we are forming a downchannel.. and would
also play a short Off teh supplyline of that channel.. wich i did
and got stopped out.. but the second entry nailed it...
we had some nice space to the left.. as no real technical support was in sight.. i pulled SL to BE and was confident.. all the way down..
cheers
enjoy the weekend
Quote from MadeMan:
HI
well the 42 = The answer to life, the universe and everything *
and your question is part of everything
*Hitchhikers guide to teh galaxy
This is truly eerie. I took a break this morning and my husband and I were walking the dog and out of the blue he says to me, "Do you remember in 'Hitchhiker's Guide to the Galaxy', the answer to the ultimate question?"
And I said, "No, I fell asleep during the movie and never read the book."
And he said, "It's the number, 43 I think."
And I had a sudden realization as I remembered your answer to my question #3, and I said to him, "I think it's 42."
And he said, "Yes, that's it! 42!"
I am not making this up.
NoD's husband: "She really is not making that up."
Quote from MadeMan:
Back on track! or should i say back at the beginning..
Just Plan your Trade and Trade your Plan and everything should be fine or at least not that bad !
Awesome, and cheers!
Homework for Monday Euro FX
i will trade this contract next week due to my 9-5 (shift)
The bigger picture is still bearish as the trend is clearly down
indictaed by a series of Lower Highs/Lows , but right now we are
trading on an interresting level the actual Supplyline is newly
drawn and and the reaction off that potential supplyline
found support early (1) then formed a small range(box) gapped
up thru the suplyline (2) and traded back into the box .. wehere
we are ATM.
so the supply line i drew is only potential , as we do have some
signs of strenght coming into the market wich may lead to a
change in behaviour..
The Down Move till point (A) was represented also as a supply
channel and we notice , that we have a shortening of the
downward thrust (doesent come close to the oiversold line
(smallchannel) even on increasing/high Volume, price doesnt
make a new low (Jun2010) and price breaks out of the channel
and starts a rallie (A).
That rallie is on increasing volume and sharp up moves , wide up
bars indicating strenght this rallie starting from Jul. till sept. was
the biggest and strongest rallie since the start of teh decline
in Aug.2011..
thusfar we are still in an downtrend .. but with recent since of
strenght in the background..
Now we are trading at an interresting point (B) at the mom. we
didnt create buying interrest, leading to a lower high, but we also
didnt bounce off that level , we are still sitting there ,whereas
now we either break below and test the recent lows again if we
dont create demand at this critical level , or we absorb remaining
supply at this level , and eventually break above the recent LH....
either way i will be prepared to take action..
lets take a run thru different scenarios iam looking for and how i
would play them if PA dictates ... (M5-M1)
here on the 15 Min chart we can see the Gapp up above the
supplyline , where we then formed a range (box)
wich idnicates that there was at first no interrest in following the
price any higher (no demand) we then traded back below the
supply line and eventually formed a channel wich even trades
back into the bigger range (H1) .. due to the recent action and the
background (downtrend) .. shorts are in favour..
scenarios on H1
i will trade this contract next week due to my 9-5 (shift)
The bigger picture is still bearish as the trend is clearly down
indictaed by a series of Lower Highs/Lows , but right now we are
trading on an interresting level the actual Supplyline is newly
drawn and and the reaction off that potential supplyline
found support early (1) then formed a small range(box) gapped
up thru the suplyline (2) and traded back into the box .. wehere
we are ATM.
so the supply line i drew is only potential , as we do have some
signs of strenght coming into the market wich may lead to a
change in behaviour..
The Down Move till point (A) was represented also as a supply
channel and we notice , that we have a shortening of the
downward thrust (doesent come close to the oiversold line
(smallchannel) even on increasing/high Volume, price doesnt
make a new low (Jun2010) and price breaks out of the channel
and starts a rallie (A).
That rallie is on increasing volume and sharp up moves , wide up
bars indicating strenght this rallie starting from Jul. till sept. was
the biggest and strongest rallie since the start of teh decline
in Aug.2011..
thusfar we are still in an downtrend .. but with recent since of
strenght in the background..
Now we are trading at an interresting point (B) at the mom. we
didnt create buying interrest, leading to a lower high, but we also
didnt bounce off that level , we are still sitting there ,whereas
now we either break below and test the recent lows again if we
dont create demand at this critical level , or we absorb remaining
supply at this level , and eventually break above the recent LH....
either way i will be prepared to take action..
lets take a run thru different scenarios iam looking for and how i
would play them if PA dictates ... (M5-M1)
here on the 15 Min chart we can see the Gapp up above the
supplyline , where we then formed a range (box)
wich idnicates that there was at first no interrest in following the
price any higher (no demand) we then traded back below the
supply line and eventually formed a channel wich even trades
back into the bigger range (H1) .. due to the recent action and the
background (downtrend) .. shorts are in favour..
scenarios on H1
