I think it should as the original idea shifted. But I don't know how?
CL- 1st contract exit at 60 tick and the 2nd contract was move to last HL but was taken out for -20. +400 total.
But look at how it touch the bearish TL and dropped continuing the trend. Left 2nd contract as is overnight but if I was awake managing the 2nd trade it would have been a better execution. As I forecast a exit at TL touch. Which did create a bounce play going down. I happy about my assessment of possible outcomes yet unable to manually manage the trade at small TF. http://screencast.com/t/jM7JsgyI
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I moved it to regular Journals, if you want it moved to Elite journals just let me know.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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6E- 240 min chart, zoomed in and we take a look at the highlighted levels and I apply my TL here, I'm looking for price to retrace back the mid-area res./TL/50% fib (circle) and continue down. So I'll be looking for a reversal signal via IB/OB/reversal at this area. 2011-05-17_2008 - babypowder's library
Since I work, my screen time is not efficient, so stats is as follows on the thread.
As for the method nothing new but simple. Look for TL bounce/break plays. You try to get in as close to the TL as possible, through price action indicators (IB/OB/reversals..etc). Most important stops at last pivot point or TL (low risk). My process begins, by opening a 1440 naked chart (2011-05-18_2356 - babypowder's library) and start plotting horizontal lines and trend-lines (2011-05-18_2359 - babypowder's library). Then a 240 chart (or lower TF), to fine tune an entry near higher TF lines (2011-05-19_0021 - babypowder's library). I listed some great sources you can learn from in the thread. Also you can follow Erie J/ AR01 journals and many others in the forum. Hope this helps.
edit- I just saw your journal, you are on top of your game, keep it up.
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