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[OzWizard]

Originally Posted by Cyclon

06/19/08 06:30 AM EST USA - Open Short GBP/JPY @ 211.99

Time stamp is ???????

Ok, I see where ya went short! OUCH!!!

And I also SEE now why you 'defended' OZ guy .... YOU do the same thing!

You want people to see your trades but you don't give ALL the info... why? Time? 45 seconds more to state stops, profits, etc...

Are ya still in this trade?? OUCH!!!

[Cyclon]

Originally Posted by OzWizard

Time stamp is ???????
you 'defended' OZ guy
You want people to see your trades
45 seconds more to state stops, profits, etc...

I don't control the timestamping of my post on the forum.
Open Short - Today, 06:03 AM



06/19/08 06:30 AM EST USA

This was actually posted at around 7AM which was late. No I don't run right over and post right the moment it is done.

I was not defending OZ, I was picking on you.

I don't really care too much that people see the trade. If they do that is ok. Some may take an interest but this particular trade was not a supertradesystem signalled trade. What it was is a try and see using my old method. That old method gives me fits and this one is an example. I got to tell ya I have learned so much more by trying and messing up than by when I used to get paralysis of analysis its not even funny.

I'll tell ya what, the next time I post it will be a supertradesystem signal and it will be labeled that way and I'll put everything in the post you wanted.

Longshot, This was an experimental trade and as such I had no stop except mental and I am still in it for a brief while because it did not prove out. Looking for the exit is always such fun.

Cheers,
Cyclon

[Longshot]

Cyclon,

Thanks for the reply. I think it's a good idea to label the type of trade in the future: Supertrade or Experimental/Other. Otherwise, people will probably assume every trade is a Supertrade.

[Cyclon]

06/20/08 1:53 PM EST USA Close Short @ 211.99 FLAT

Yes Longshot I am going to do that from now on. Let me tell you more about what I was doing on this trade.

There is a feeling I used to get in the pit of my stomach. Some may recognize what I am talking about the moment I mention it without even saying what it is. I suspect quite a lot in fact.

I have to write something on Risk Aversion. I haven't had the feeling in so long I wanted to take a small trade ( I'm not entirely dim ) and ply my skills the way I used to.

Typically I was early on most of my trades (although I was not above being late either). Just true to form my trade here was early. Why is that? I suspect it has to do with Elliott Wave knowledge. That stuff can make you dangerous (only to yourself - don't worry).

Psychology being what it is you see what is coming and trick yourself. This is a very common element in EW traders. Nothing new in that.

But I needed emotion to stir some writing juices and I got some.

Cheers,
Cyclon

[Longshot]

Well, the trade is (barely) in the money now, anyway! It will be interested to see where you close it. Will you use more standard EW methods to exit?

[Cyclon]

7/18/08 3:56 PM EST USA 4 min. before (my broker's) close on Friday:


Short Eur/Jpy @ 169.42

This is a Supertradesystem secondary setup trade for corrections. While the primary setup signal says this trend continues a short term opportunity gets identified at the same time and provides the entry trigger.

SL is 169.75

TP is determined by system techniques but is at least the 7/16 low at 165.31


Cheers,
Cyclon

[Cyclon]

A brief discussion of the secondary setup is on the Forex Peace Army's Supertradesystem discussion thread here:


SuperTradeSystem.com



Cheers,
Cyclon

[Longshot]

So this trade was stopped out? My platform shows the EURJPY going to 169.88 a few hours ago.

[Cyclon]

Yes Longshot it was.


Short trade was stopped out -33 pips.

[Cyclon]

Well I checked that one out very carefully and it gets scratched up to operator error. That's what stops are for. I got a little complacent to not recheck my criteria before making a trade.

This formation has grown but I did not move the analysis along. I had done so as appropriate a while back but ASSumed it would not have changed since then. Live and learn.

Applying the correct template would have been all that was needed to see this was not even a pullback evaluation let alone a secondary setup trade.

Two good things come out of this.
1) I saw my mistake and learned to do a recheck even when I don't think one is needed.

2) The system did not have any problem so will be giving me another shot.

As a matter of fact this was verifiable exactly the same way (method wise) on two equally valid timeframes and came out with the same answer: No Trade.

One was off 3/20 low and the other was off 5/9 low.


Next time I plan to follow my own system (Even though I thought I was).

Will post another.

Cheers,
Cyclon