THE JOY OF CANDLESTICK TRADING - a Learning Experience

[VulcanClassic]

Well,

I should probably get out now because of the BB and Starc being pierced. . . . but . . . . I want to see what the next candle does. The starc is turning down, so maybe . . .

Please move my stop to (bid=1 pip) above the high of the second from last candle. I'm willing to lose for a little better reward.

[KENNETH LEE]

Quote:
Originally Posted by KENNETH LEE
I would probablly be out by now. For either break even or 1or 2 pips.

The trade is not developing in our direction , and as Vulcan classic said
there is strong support there tested numerous times.. (4)

Plus I generally don't stay in trades for this long, Over a hour and a half now.


OK then. The present price is 108.04.

Your averaged entry was 107.97.

If you get out now you will lose.....107.97-108.04 = -7 pips.

With 2 amounts, this is -14 pips.

Do you really want to do this!!???



I would have been out way before 108.04 most likely around one of the 1,2,3 numbers or the next series of highs . If I had still been at 108.04 I would have let it run it's course and stop me out or make profit.

[ericoco]

sorry was not able to post earlier been busy at work.well, knowing what i know now i would not have exited the trade in stage 8. and i would not exit now since the middle BB and the starc bands are heading down .will wait for the price to walk the bands for 2/3 candles before i exit

[trav72]

I am going to exit with one amount now at 107.90 and let the other lot run

[neboxian]

too soon to get out.
.....all are pointing down.. BB and Starc bands....
I'll wait for the price to walk down the lower bands 2 0r 3 more candles....

Tymin:
(I have found on the 5m chart , Keeping the Kc channels and MacD on the chart as well ....helps to predict general direction of next candle.... it helps me stay in the trade. I coutinue to struggle with jumping out to soon...using your vector helps to determine the next candles' kc quadrent.. )

made 5 trades today
10 pip +3 pip + 25 pip + 6 pip - 8pip = total +36 pip
Thanks Tymin !!!.....

How a bout some help with the bottom of the cycle.. ie : morning star or engulfing or what ever you see occur the most...

I try to avoid going long ....I get all beat up almost every time i try....

[tymen1]

Stage 9 was the last chart but I will extend the trades based on the main chart.

Final scores will then be given.

[tymen1]

Originally Posted by VulcanClassic

Well,

I should probably get out now because of the BB and Starc being pierced. . . . but . . . . I want to see what the next candle does. The starc is turning down, so maybe . . .

I will continue a final candle on the main chart with your trade since the stages have now finished...............you will be pleased!

[tymen1]

Originally Posted by KENNETH LEE

Quote:
Originally Posted by KENNETH LEE
I would probablly be out by now. For either break even or 1or 2 pips. .................................................

I would have been out way before 108.04 most likely around one of the 1,2,3 numbers or the next series of highs .

OK then, I shall modify your pip score accordingly to be very fair.

I shall make a generous exit at one of the 1,2,3 numbers.

[tymen1]

Originally Posted by ericoco

............well, knowing what i know now i would not have exited the trade in stage 8.... and i would not exit now since the middle BB and the starc bands are heading down .will wait for the price to walk the bands for 2/3 candles before i exit

too soon to get out.
.....all are pointing down.. BB and Starc bands....
I'll wait for the price to walk down the lower bands 2 0r 3 more candles

...........Neboxian.

I am going to exit with one amount now at 107.90 and let the other lot run

..............Trav72.


Same as with VulcanClassic - I will extend your trades one extra candle on the main chart since the stages are now closed (exercise closed).

The final scores will then be set and we can look at the conclusions.

[tymen1]

Answer to Stage 9

The Starc bands were travelling level.

The correct thing to do here would be to exit at the bottom of this last candle.

Walking the lower Starc band for an exit only applies when the Starc band is going down.

I will be making a full summation of these matters in the conclusions.
It is important that some bits of theory are repeated so readers are not confused.