tag:blogger.com,1999:blog-9459815.post1024002567387454528..comments2023-07-03T06:33:52.478-04:00Comments on Trader-X...views from a distorted mind.: Tuesday chartsTrader-Xhttp://www.blogger.com/profile/15148372813905710453noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-9459815.post-90842185274730244082009-05-07T19:36:00.000-04:002009-05-07T19:36:00.000-04:00X I have started to read your blog while you were ...X I have started to read your blog while you were on vacation (by the way, Tom has done a great job posting and answering some questions while you were out...if he manages to keep on posting that will be a good news for all of us your readers...)<br />One question regarding your trade on VRTX: I have reviewed some of your set ups called "top out" and I would say that given the fact that VRTX had a 2ond bar setting the high of the OR and a third bar closing below the 75% of the OR, one should be looking to short VRTX below the low of the third bar...not going long....I'm sure I miss something that should be evident but I don't know what...Thank you in advance for your help and understandingFP A distanciahttps://www.blogger.com/profile/03083326759493880325noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-31260929425195021272009-05-06T22:08:00.000-04:002009-05-06T22:08:00.000-04:00Hey X,
Great to see you back! I have been trying...Hey X,<br /><br />Great to see you back! I have been trying to post regularly on WSW blog while Jamie is on vacation. I now have a new respect for full-time bloggers. It takes dedication.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-45121023550223864782009-05-06T18:11:00.000-04:002009-05-06T18:11:00.000-04:00Walker-
When I trade a "u"-turn pattern, I genera...Walker-<br /><br />When I trade a "u"-turn pattern, I generally like my entry to have room to move before it hits the previous high...reason being that area is potential resistance, so if it reverses I can exit with a small profit (or at least break-even). <br /><br />The entry on DRYS was right below the previous high, which is where it stalled for a few bars and triggered your stop. Looking at the setup in hindsight, I would not have taken it.<br /><br />One other note - if it is a valid "u"-turn setup, you might consider setting your stop to the prior low (as opposed to the low of the trigger bar)...that would have kept you in the trade.Trader-Xhttps://www.blogger.com/profile/15148372813905710453noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-1286506085751883282009-05-06T17:26:00.000-04:002009-05-06T17:26:00.000-04:00X,
I traded DRYS today (Wednesday)as a "U" patter...X,<br /><br />I traded DRYS today (Wednesday)as a "U" pattern. I entered on the break of the high of the 4th 10 min bar. Unfortunately I was stopped out two bars later as it broke the low of the 4th bar by one cent. It then recovered and went to the FE and beyond. <br /><br />In reviewing the trade, I saw it did not have a good risk to reward ratio. I was risking 20 cents while the FE target was only 17 cents away. That contrasts very unfavorably with the risk/reward that you had on VRX (18 cents to make a dollar).<br /><br />Would you have taken the trade and do you have a minimum risk to reward ratio?<br /><br />Thanks for your input. I have been a long time reader and have learned a lot from you over the years.<br /><br />WalkerWalkernoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-36356208130325450162009-05-06T08:33:00.000-04:002009-05-06T08:33:00.000-04:00Hey Tyler. I actually had more on the short side T...Hey Tyler. I actually had more on the short side Tuesday, what would fall under my "deep pullback" setup. But VRX was nice...I wish I could have one of those a day!Trader-Xhttps://www.blogger.com/profile/15148372813905710453noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-19579893482919129542009-05-06T08:24:00.000-04:002009-05-06T08:24:00.000-04:00X,
Nice trade today! I had a very tough time fin...X,<br /><br />Nice trade today! I had a very tough time finding any good setups. I am happy to see you can always find something worth trading.<br /><br />TylerTylerhttps://www.blogger.com/profile/10041866145486659876noreply@blogger.com