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     pse
Member
Username: pse
Post Number: 137
Registered: 10-2007Rating: N/A
Votes: 0
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| | Thursday, December 06, 2007 - 08:53 pm: |  
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"TRADE WHAT IS, NOT WHAT MIGHT BE"
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peter1
Member
Username: peter1
Post Number: 194
Registered: 12-2005Rating: N/A
Votes: 0
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| | Thursday, December 06, 2007 - 09:35 pm: |
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Well P? Did you last the distance and get most of the 40 pts that were available?
Did you consider adding to your position during this move?
You have to risk some of your open profits but it is the only way to get the most out of a good trade.
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pse
Member
Username: pse
Post Number: 138
Registered: 10-2007Rating: N/A
Votes: 0
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| | Thursday, December 06, 2007 - 09:48 pm: |
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alas! i am overly protective, to my detriment.
in theory, i know to hold a little more in such circumstances, to see what may come.
in practice, . . . well, that's where more experience should bridge the gap.
"TRADE WHAT IS, NOT WHAT MIGHT BE"
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peter1
Member
Username: peter1
Post Number: 195
Registered: 12-2005Rating: N/A
Votes: 0
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| | Thursday, December 06, 2007 - 10:09 pm: |
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Thanks, I was curious and realise that this is hard to do. I only suggested this as something to think about as you get more experienced. Only add when you think it is one of your 80/20 situations and you can move your trailing stop for the combined position past breakeven.
Consider managing a trade that starts this well in the 5 min chart. It might prevent you worrying to much.
[Whoa, what is happening now? Huge increase in volatility! Watch out below!]
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pse
Member
Username: pse
Post Number: 139
Registered: 10-2007Rating: N/A
Votes: 0
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| | Thursday, December 06, 2007 - 10:27 pm: |
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If only the Aus index were as friendly.
"TRADE WHAT IS, NOT WHAT MIGHT BE"
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msparks
Member
Username: msparks
Post Number: 1159
Registered: 10-2004
Rating: N/A
Votes: 0
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| | Thursday, December 06, 2007 - 10:50 pm: |
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Hi pse
I can see the set ups you display in your posts but at the time of your entry i cannot see the setup.
Your entry is shown on the RHS of the chart.
Are you fair dinkum or just making me feel like a loser.
" I have my own unique system "
" I buy high and sell low "
"Money is not the main game , it is sticking to the plan, through thick and thin , unwavering from a disciplined approach to share trading "
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pse
Member
Username: pse
Post Number: 140
Registered: 10-2007Rating: N/A
Votes: 0
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| | Thursday, December 06, 2007 - 11:19 pm: |
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Hi Mark,
I'm fair dinkum. If it's any consolation, index trading and study is all I've been doing for 8 weeks, all day and night, 6 days a week.
That aside, below is the chart and what I actually saw which motivated my entry.
As I watch the index unfolding I became aware of the pivots forming. The third blue circled pivot is the hardest one to spot in real time. But I'm actually looking for it which makes it easier. As soon as I get what I consider a "convincing" bounce off support, this is my entry signal.
So there is no "guessing" nor luck involved. I am actually looking for a 3 pivot channel formation and a "convincing" bounce off support. If I get this, I trade, if I dont, I wait.
"TRADE WHAT IS, NOT WHAT MIGHT BE"
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maxboost
Member
Username: maxboost
Post Number: 202
Registered: 12-2005
Rating: N/A
Votes: 0
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| | Friday, December 07, 2007 - 10:36 am: |
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Hi peter,
I'm still in the process of working out how reliable the Stoch Momentum is. It appears to be quite reliable. Haven't used it on 1 or 2 min charts so i am not sure with those. It can also be used for divergence which is a strong signal as well. I am going to test it for a bit longer before I take automatic trades on those high readings for scalps. I guess that could be the only real way to test it. It did just work a treat though!!
cheers
(Message edited by maxboost on December 07, 2007)
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pse
Member
Username: pse
Post Number: 141
Registered: 10-2007Rating: N/A
Votes: 0
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| | Friday, December 07, 2007 - 11:21 am: |
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"neat and tidy" avs and candles are always preferable to "messy" avs. and candles
i've found aus index pretty "messy" most of this week.
(Message edited by pse on December 07, 2007)
"TRADE WHAT IS, NOT WHAT MIGHT BE"
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pse
Member
Username: pse
Post Number: 142
Registered: 10-2007Rating: N/A
Votes: 0
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| | Friday, December 07, 2007 - 12:14 pm: |
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1st attempt trading off a 5 min chart; a different experience!
(Message edited by pse on December 07, 2007)
"TRADE WHAT IS, NOT WHAT MIGHT BE"
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pse
Member
Username: pse
Post Number: 144
Registered: 10-2007Rating: N/A
Votes: 0
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| | Friday, December 07, 2007 - 04:14 pm: |
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After 8 or so weeks of index study and trading I have refined and revised my entry signals. Attached are the updated signals.
5b, 5c, and 5d are a work in progress.
- Peter.
"TRADE WHAT IS, NOT WHAT MIGHT BE"
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pse
Member
Username: pse
Post Number: 146
Registered: 10-2007Rating: N/A
Votes: 0
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| | Monday, December 10, 2007 - 01:41 pm: |
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not much action on the Aus index today.
"TRADE WHAT IS, NOT WHAT MIGHT BE"
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pse
Member
Username: pse
Post Number: 147
Registered: 10-2007Rating: N/A
Votes: 0
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| | Monday, December 10, 2007 - 01:54 pm: |
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