tag:blogger.com,1999:blog-163593789697242044.post8482467103704212444..comments2023-04-09T09:17:14.037+01:00Comments on TraderAm: Trades 26/Feb/2008TraderAmhttp://www.blogger.com/profile/14729865782745541361noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-163593789697242044.post-31402605174250164752008-02-27T10:21:00.000+00:002008-02-27T10:21:00.000+00:00Discipline.This is what I have found to be the tou...Discipline.<BR/><BR/>This is what I have found to be the toughest thing in trading. It helps having set targets such as the Fib Ext and 1R,2R etc as you can set your up your orders in advance. <BR/><BR/>The other thing in my view is the conundrum of staying in front of the PC to watch your trade but not messing with your stops and profit orders. It is very difficult to sit there and see the price go against you and not take profits or get out etc. <BR/><BR/>It probably helps sometimes to get away from the PC. In my case this does happen because of work and travelling home etc. It's a bit of a trade off, since I may miss a candle closing below the OR to get out earlier with a smaller loss. On the other hand I have in the past moved my stop too early to Breakeven after seeing the price retreat.TraderAmhttps://www.blogger.com/profile/14729865782745541361noreply@blogger.comtag:blogger.com,1999:blog-163593789697242044.post-19387228846567455662008-02-27T10:01:00.000+00:002008-02-27T10:01:00.000+00:00The RRI Trade...good question.Stops can be subject...The RRI Trade...good question.<BR/><BR/>Stops can be subjective at times. In most cases I would have my stop below the trigger candle. In fact it would normally be around 2 or 3cents from trigger bar. So just taking that information alone would have kept us in the trade. (Trigger bar low=24.02 13th bar low=24.01 , Stop=23.99).<BR/><BR/>In this case however other factors also influenced my stop. Firstly the OR high is very close to my trigger bar low. So I would use the OR high as my stop "basis" and take of 2/3c from this. <BR/>But the other important factor here is the whole number (i.e. $24). If we are near a whole number then I tend to give it a bit more room. Hence my stop was a few more cents away than normal. <BR/><BR/>Hope this helps.TraderAmhttps://www.blogger.com/profile/14729865782745541361noreply@blogger.comtag:blogger.com,1999:blog-163593789697242044.post-86334634421885887112008-02-27T04:25:00.000+00:002008-02-27T04:25:00.000+00:00On RRI the 1st 15 min candle's high was 24.01. Tha...On RRI the 1st 15 min candle's high was 24.01. That 13th candle dipped down below the opening range by .01. Since your stop was at 23.92 it missed you. What made you decide to put the stop below the EMA of the trigger bar and not just below the trigger bar itself?<BR/><BR/>I admire your discipline and letting your trades work themselves out, not taking profit to soon.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-163593789697242044.post-32389663160583282092008-02-27T01:55:00.000+00:002008-02-27T01:55:00.000+00:00Good discipline... nice work.Good discipline... nice work.Anonymousnoreply@blogger.com