this is not a competition
I have never taken advice from anybody, not to play golf ,live my life or to trade...
i
Rewind Back 15 Years
- Thread starter padutrader
- Start date
this is not a competition
I have never taken advice from anybody, not to play golf ,live my life or to trade...
i
padutrader,
Don't worry about all the what the market does do or does not do. All that talk is just fairy tale. Trade the price action, read it, and react.
All that fairy tale stuff do is clogged the brain up while getting ready to take the trade and makes us hesitate to pull the trigger, worry about "market does not give easy money".
We do not need any extra trading quotes cluttering in the brain when we getting ready to take the trade. For get all this trading quotes stuff , just trade exactly what you see.
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padutrader,
Read what volpri has to say sir. He is good price action logical trader. I read his post weeks ago and because of him, I am reduce my risks on trades and I now mange my risk and winners after entry. I learned about acutal risk vs inital risk from him.
No longer do I set profit target, set stop loss and leave. I am responsible for trade management after the trade as well.
why do take loss?
the market hinted it was going up....the previous swing it broke a swing high and a bear trend line...and it retested the trend line and bounced off it. it went up :see post 705 chart; it shows what happened later
when market hints pay attention.
when market shouts, ignore:it was shouting I am going down down...
I read and commented upon it....
the market clearly said it was going up and it went up...see post 705
I too was short
padutrader,
Ok yes, I agree. After drawing the trendline, no I would have not taken the bottom short. I would have had to Wait for price to break the trendline. So yes, I agree with you. My buy entry is now the blue arrow.
But if that trendline was not in the way, I would have taken that short. Without a doubt.
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padutrader,
I was wrong, you are right. price came to a trendline, so no I would not be taking the short there.
I have been burnt Many times, not drawing those trendlines and payint attention to them.
If trendline was not there, I would have taken that short trade.
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Like I said there are many price patterns in the channel. Many tactics can be used. My post refer to what I would have traded at the point you made your entry using one of my tactics. That is all.