I just had two consecutive 1R losses on Tesla - my HIBs don’t always work!
I actually I’m.going to stay away from it for now I’m more concerned about the crazy PE ratio than anything else 1000 is not a normal number.
Really don’t know what to make of Elon - genius or complete fraud ?
Hi John,
Tesla really hasn’t had much upside for a few weeks now, I bought 5 shares right at the last dip and have just held them.
I don’t trade stocks like forex, I like to hold them longer. The current PE ratio is inflated but doesn’t necessarily mean it’s overvalued. I believe now we’re going to see a big push towards climate change, which should be good for Tesla, and I think investors are expecting the same, which is reflected in their PE ratio.
I will hold until/if it hits my SL at break even, but I’m hoping it breaks out again and doesn’t decide to drop down to that support level around 345.
GBPAUD Daily - I’m anticipating a buy here this week as you can see by my buy order. The current inside bar is my first signal.
Could be some downside first though. I know that sounds like a typical, cover-your-ass approach, but there’s a method to my madness, and it’s important to consider all possibilities.
4H - Price has been in between 2 SR levels, and is currently at the top of this range. I’m waiting for price to break out of this range. I think the chart is pretty self explanatory:
I am actually impressed by your knowledge Matty. The way you are doing your trading is really amazing. Also, I believe you have worked a lot on studying about it. Can you also suggest some good study platforms for trading so I could know more about it?
@laboredhoat thank you the kind words.
However, it probably looks more impressive than it really is, Some of it works out but some of it also end up out in left field. Most people won’t post their analysis for fear of being wrong, but right or wrong, I find it very enjoyable.
I cannot be of much help suggesting where to look for education. There is a lot of free sources out there, some are helpful but some are just trying to rope you in to a subscription, which is not a bad thing if you’re learning from a reputable teacher or course. Everything I know is from experience, the advice of some great BP members, and from many, many free sources around the internet.
Here’s a chart I made up detailing what 3 different size accounts would look like when compounded an average of 6% per month for 5 years. At 6% the account essentially doubles each year.
With patience and a good strategy, these numbers are not beyond reach.
I use this same chart (different starting amount) to track my progress. However, I don’t pay too much attention to the daily goals, I just put them there for curiosity purposes.
$1,000 Account:
$5,000 Account:
$10,000 Account:
Exact, and that was my expectation 8 years ago.
The problem is that I don’t know any trader able to do that.
You can do 6% a couple of months per year but not on average.
Today if I am able to do 1% per month I am happy.
Britain and the European Union (EU) have agreed an historic post-Brexit trade deal
Should see a strong EUR & GBP on open Monday.
EURCAD 1D: Price has been ranging and is at a resistance area. Paired with the bearish engulfing candle makes for a decent entry signal in my book. If it continues within this range then we should see some downside.
EURJPY Daily: Price is sitting at a strong level. Perhaps we’ll see a weakening EUR to ring in the new year, which would validate both of these setups (see previous post EURCAD).
Weekly: You can see this level goes back a long way. Even further if you zoom out more.
This trade worked out well, EUR has weakened today. Closed this trade and set another sell order just below that candle.
AUDUSD Daily - This pair is still on top of the strong/weak rankings. I hope you all held on, or bought the dip:
USDJPY Daily: Lots of action today, but price is still respecting that wedge. I’m short on this pair:
EURCAD 1D
Picked up a bit of steam Thursday & Friday. Might get a couple more good days out of this pair:
EURCHF 1D - Nice bearish candle formed today with price bouncing off a strong resistance area. I expect it to continue down next week:
Here’s a weekly view of that strong resistance level:
