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Trade the Bollonger Band Squeeze

Where did I go wrong?

Chart Forum » Markets » Where did I go wrong?

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jimdene54
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Username: jimdene54

Post Number: 3
Registered: 08-2011

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Saturday, August 20, 2011 - 01:22 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



My trading method is with EMA21 Price and volume, Twiggs money and MACD.
I entered trading on 15th Aug with a good signal, I don't have to say what happened thereafter. Signals were good apart from price not exceeding EMA 21 line.
Without knowing what would happen thereafter, where did I go wrong? as the books never mention panick stations from Europe and the USA


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colin_twiggs
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Username: colin_twiggs

Post Number: 1246
Registered: 06-2009

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Saturday, August 20, 2011 - 06:31 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Jim,

Perhaps you were focused on the time frame of the trade and neglected the big picture. When the bus goes over the cliff there is only one possible outcome.

Regards,
Colin


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jimdene54
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Saturday, August 20, 2011 - 12:18 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Colin on reflection I was too eager to get back into the market after a long absence. Only a minor loss, but still glad I took all of my money out of Managed Funds, at least while I wait for better opportunities I am getting short term 6% interest from Westpac







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jimdene54
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Saturday, August 20, 2011 - 12:43 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Colin I have studied your big picture and it is obvious that I was mesmerised by that big blue candle on Monday 15 August, All Ords., and somewhat anticipating the market, big mistake. Something I have yet to get my head round is patience.
Thanks once again for your help and direction

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