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Catching Big Waves - a trader's journal of surfing the the markets


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Catching Big Waves - a trader's journal of surfing the the markets

  #121 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Potentially step one completed in a multi-step confirmation process.

[img]https://nexusfi.com/v/yq9p9n.jpg[/img]

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  #122 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

OB - step 2

[img]https://nexusfi.com/v/shzckq.jpg[/img]

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  #123 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


[img]https://nexusfi.com/v/zhanwh.jpg[/img]

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  #124 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Tightened stop

[img]https://nexusfi.com/v/7wjw8t.jpg[/img]

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  #125 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

[img]https://nexusfi.com/v/7wjw8t.jpg[/img]

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  #126 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Trade closed for 93 ticks

[img]https://nexusfi.com/v/e8hb8k.jpg[/img]

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  #127 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

And this is why I closed. Plus, my profit target was just an approximate area, I just sort of grab and pull it aside at first. When I enter a trade, there has to be a reasonable area for a profit target. But the primary focus until a trade goes in my favor is the stop loss, not the profit target. Later I pulled fibs. 80.87 was beyond the 786, and I prefer to get out and then watch to see if I still want to be in.

[IMG]https://nexusfi.com/v/becp97.jpg[/IMG]

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  #128 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Here's the trade after the fact.

[img]https://nexusfi.com/v/5qzpgj.jpg[/img]

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  #129 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

The zone is getting a return visit.

[img]https://nexusfi.com/v/txewwx.jpg[/img]

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  #130 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


[img]https://nexusfi.com/v/bccqkq.jpg[/img]

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Last Updated on May 23, 2014


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