If you want to fail as a trader, study TA
- Thread starter The Expert
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MN,
Are you based anywhere near London?
SS
Are you based anywhere near London?
SS
Quote from The Expert:
BET you are happy YOU covered now
Think of this!
If you think it is time to cover, then, is it not time to reverse and risk some of the profits on discovering if you are right, or wrong?
TE
You always say it's best to learn from the mistakes of others.
From what I've seen others who try to be in every single move usually fail.
Maybe there are some out there who can do it, but the ones I've seen that are successful are very patient and only take the very best setups. When you exit a trade you aren't really exiting based on a setup which justifies going in the opposite direction.
In fact your exit will most likely leave profits on the table, as even some of the very best traders I've read about always note that they wish they could work on letting their profits run.
Difficult to develop the discipline to wait for the very best set ups, but good if you can and will defo affect your P&L.
I think it's not a bad idea to go out for some fresh air if you've just banked a large profit, clear your head before you start putting it back on the table...
TE, what's your take on where & when to take profit?
Question for TE.
On the site that shall be nameless you had a discussion of H-L, C-O and the opening gap. There was brief mention of H-L, C-O and the opening gap this earlier in this thread, by RN if I recall correctly, who gave numbers without naming those terms, in response to a chart you posted. I never did grasp what the purpose was. As an illustration the picture shown is typical, but the lower plot shows C-O and opening gap as a % of H-L.
So what were you getting at?
On the site that shall be nameless you had a discussion of H-L, C-O and the opening gap. There was brief mention of H-L, C-O and the opening gap this earlier in this thread, by RN if I recall correctly, who gave numbers without naming those terms, in response to a chart you posted. I never did grasp what the purpose was. As an illustration the picture shown is typical, but the lower plot shows C-O and opening gap as a % of H-L.
So what were you getting at?
Quote from IchibomB:
Paging Jack Hersey...step up to the plate bud.
Walk the walk now, sir.
Didn't trade but the last 8 minutes today. Had some stuff to take care of this morning. Looks like I missed out but profit is better than nothing.
+$505 in 2 days. Not great but not bad.
Better than -$505, focus on your weekly P&L if the daily isn't all that inspiring...
Speaking of inspiration, that bloke on UK Big Brother who was in the Army and lost BOTH his legs is amazing, he's only bloody dancing on national TV...
Anything is possible if you put your mind to it...
Anything is possible if you put your mind to it...
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