Advanced trading lessons - page 66

[jim]

Trend changer, i know

i know you will love this one.

this example shows you how an ex- trade becomes a reversal ...

no explanation is needed for you but for others i will go throu the motions.

lets say you expect the market to turn around at at certain level. (or price)

#1. the market breaks the major trend line with a counter trend on a frequencey...

and gives a confermation signal with the break..

#2. then the market x- trades back inside the trend line and the trend continues a little more..

breaking( in this example) the last low.. sending a nice trending candle back inside the trend line..

#3. then the market traps the with trend traders below that signal and then :

#4. the market reverses... z pattern x ing out the trend line both ways...

actually going throu it 3 times. x- trade reversal...

now heres the kicker if you look in past history you can see that at the logical level of support

or resistance. is where the first counter trend breaks that frequencies trend line.

and at a refined level close by the obviously logical level is where it actaully turns around.

example shot...

[jim]

not to confuse

not to confuse any one, but it happens before the obviouse level or after reflecting off of it....

[jim]

of course

of course the market reverses in many shapes and forms but this is common way!!

[jim]

ok

76 pips nothing to good though. i certainly know i could do better then this!!

nothing to great... but this may help start a long winning streak. thats what we want.

i am off the board now i dont hold trades over the week end, if i can help it.

later tonight a will take a look at next week.

this week the only thing that went right for me. was to hold firm my conviction of horzontal

resistance... it was like a consalation prize for third place... i know thats not good.

it will get better!!

[jim]

Holiday talk

Holiday talk!!!

1. Risk money using data transfer with old trend lines drawn through stuff.

2. Risk money where ( the crouds) stop out hunters keep there stops.

3. Risk money on more than one posability for market direction.

4. Be detailed and refine horizontal support and resistance to minimize risk.

5. Risk money with an understanding that what the croud is tought is 80% ussually

wrong!!

6. Risk money against the crouds view, or with the croud at the stop hunters stop level.

7. Risk were the un expected will happen!!

Make no mistake trading is form off gambaling!!

So before you can gamble you have to know about the possabilities with the odds

of the game you are playing.

So this week i will set forth a few possabilities and the odds.. I will cuver the best

possabilities with trades, when the market opens for me.

[jim]

ok

i am still selling in the face of resistance...here is were i am selling ..

one level is a high two of the candle two weeks ago.

the other is a inside move close to the last high... that would be a fall off candle.... where the market

falls away from the target side.

so i took a risk at both levels ...

there is a possability i will not be triggered an the inside move is lower but i alway go with the normal

forthest out reach the market does so often... but not always,,, so i may miss it.

[jim]

dang it

i fricken missed this trade by 4 pips... frustrating i had the level figured out, and crap stupid

mistake!! i figured the level as beeing slightly crossed by three pips and in stead it was 1 pip from being hit..

sun of fricken be otch!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[jim]

so dang

so i am still keeping them in place we cought into a rising wedge channel.

i hope we stay cought in it for one more shot up.

[jim]

ok

ok i did get knocked out once but got right back in with an entry order... i will be dambed if they will keep

me off the ride i knew was cumming. noth great yet 20 pips.. i will see later today.. stop has locked me in..

[jim]

ok

nothing to awsume i was 7 pips off on entry.. but i got into the ride..

here is the shot