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Price action

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kwagga
Super Contributor
Also, is anyone following Laruma on twitter ?? Even with a mechanical trading system you will have emotion involved when your system doesn't work in certian trading conditions, and you need to adapt constantly for volitility, sideways and bear markets. How do you determine what market your trading in without being biased (aka using patterns, trendlines etc.) ??
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kwagga
Super Contributor
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Rams
Super Contributor
when to trade and when not to trade, it all forms part of the system...all scenarios are taken into account with the system, so if the system does not work between 11am and 2pm, then dont trade even if on a particular day you see a setup because the same setup will have to be traded during that time the next day and it may not work...
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SimonPB
Valued Contributor
also 126 .. but again use something like ADX rather then lines and frankly any system will have draw downs .. best thing to do is just cary on .. emotion is the enemy of trading ..
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SimonPB
Valued Contributor
one of the key things about trading is to NOT care about the money nor to use it as a measure .. if you do you're in for a heap of pain ..
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kwagga
Super Contributor
With you on that one. First stop loss is always the most painfull, then with time (experience) it becomes a painless exercise .
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Rams
Super Contributor
and don't flaunt it (or fake it..shall i go there again...like million rand challenge and turning 300 into 300 000 in 2 weeks!) when you making it
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Rams
Super Contributor
Simon, 10.15 engulfing candle looking good...
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Rams
Super Contributor
easy 100 points and at breakeven on rest! no lines, no patterns, and NO EMOTIONS. and Thresh..no time, just PRICE
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THRESHOLD
Super Contributor
SO - That would imply that you have not placed the trade yet?
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Rams
Super Contributor
taken profits already...entry at 29250, first profit at 29150 and rest at 29050...stop loss at 29300. moved stop to 29250 when first target reached. another engulfing candle now...if get confirmation will be in
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prancing_horse
Super Contributor
It was not Price, it was timing, a candle formed at a certain time and your followed it, you had never set a price to enter, all about timing.FULLSTOP
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Rams
Super Contributor
candle is about PRICE...not time. but agree it forms at a certain time, but if you trade a candle, you trading the price at a time. Anyway I am in at 29070 short
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Rams
Super Contributor
prices set, a trail 50 stop (my rule for when i am not at computer) and I am off to lunch
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raps
Frequent Contributor
Rams - which platform do u use to trade the TOPI / ALSI, what's the charting software like, what instruments do u normally trade and what's the gearing like?
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doomsdayza
Super Contributor
disagree on mechanical trading being emotionless as a rule and discretionary trading being susceptible to emotion. makes no sense. if you're a HFT algo machine then maybe...
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doomsdayza
Super Contributor
agree prancing... a price at a certain time is what decides whether you're in or out. that same price at another time is meaningless. it's disingenuous to suggest otherwise.
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Rams
Super Contributor
ALSI index futures on OST.....free charting on forexpros....or can use OST easy trader charts...Gearing 10.56
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THRESHOLD
Super Contributor
Again - you miss my point - you simply cannot have traded "YET," as that imples the assumption of a position at a point in time (hence "yet" - a time refernce). I cannot believe that you are not getting this. At first I thought you were having a bit of fun. Now this argument is just tired and sad.
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Rams
Super Contributor
Some advice....trade the ALSI FUTURES and you will understand the concept of PRICE and the irrelevance of time. If you trading the way you do , then you may lack the ability to understand the concept of time, time frames and how we compartmentalize the charts into time frames but the market just does not function according to time zones....
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