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Les Lau commented Feb 10, 2013Congratulations China..! :-)
China eclipses U.S. as biggest trading nation measured in goods
- Les Lau replied Feb 8, 2013
post analysis: - eu, gu timing start buy > 0730/ 35 dip - eu, gu SL daily ATR(28) 15%(high/bottom use slight >15%), rejected entry(re) slight<50% SL, (with max allowed through line slight >50%SL) - once open buy, if positive hedge sell then use half ...
The 3 Elements of a Successful Trader
- Les Lau replied Feb 8, 2013
Bit tough ranging day gu double bottom buy @1.5723, Tp1 taken Tp2 @1.5763
The 3 Elements of a Successful Trader
- Les Lau replied Feb 7, 2013
gu BE line hit. News coming up. Shift sell sl to BE (*post analysis: no shifting sl to BE after Tp1 taken(even before news release) Improve on position sizing & set Tp1 bigger for gu) Ok, not bad for today :-)
The 3 Elements of a Successful Trader
- Les Lau replied Feb 7, 2013
post-analysis: - Missed out early eu sell after 0700, can use haft size position if not very sure - eu, gu daily open line only for reference (no trading) - eu FR line focus only 60/ 61.8% (ignore 50, trade @60%) - gu FR line stay 50-60%. Trade FR50 ...
The 3 Elements of a Successful Trader
- Les Lau replied Feb 7, 2013
gu Tp1 taken. Sell using half position Eu Tp2 set @1.3593
The 3 Elements of a Successful Trader
- Les Lau replied Feb 7, 2013
A bit tense today.. gu now 1 buy 1 sell
The 3 Elements of a Successful Trader
- Les Lau replied Feb 7, 2013
eu buy @1.3525 Tp1 taken
Price just blast through 1st resistant.The 3 Elements of a Successful Trader
- Les Lau replied Feb 6, 2013
post-analysis: Dax - hit major FR50 or major high/low, use 'bigger' rejected price for entry - TP2 set about 50% daily ATR(28) - TP3 set >100% daily ATR(28)
The 3 Elements of a Successful Trader
- Les Lau replied Feb 6, 2013
Post-analysis: gu - near previous day low, just look for buy (*till key Fib-R can setup sell) opposite for near previous day high, just look for sell (till key Fib-R can setup buy) eu - if mid range, can trade small FR61.8(origin ~0700)
The 3 Elements of a Successful Trader
- Les Lau replied Feb 6, 2013
Today entry Buy eu @1.3521, Tp1 taken
Tp2 target 1.3594The 3 Elements of a Successful Trader
- Les Lau replied Feb 6, 2013
PA (price action) Following conditions means price likely to be rejected when hitting 'drawn line': - Daily top/bottom line - Key/ big Fibo-R - Double or triple top/bottom - parabolic up pattern (0700 to 0800) - pin bar with long 'wick' - confluence ...
The 3 Elements of a Successful Trader
- Les Lau replied Feb 6, 2013
For intraday, using only 1 method ~price rejection for entry Trade: - 1 Entry method - 1 Timeframe (*can zoom to minimum for line drawing/ analysis) - A few pairs/ markets
The 3 Elements of a Successful Trader
- Les Lau replied Feb 5, 2013
Today Post- analysis: Eu key Fibo-R @61.8% (or else 50-61.8%) Gu key Fibo-R @50-60% Draw line & trade these levels Tp2: - about daily ATR(period 28) - set just below/above key levels
The 3 Elements of a Successful Trader
- Les Lau replied Feb 5, 2013
gu set Tp2 80 pips, shift Sl to 1.5771 Ok , done today
The 3 Elements of a Successful Trader
- Les Lau replied Feb 5, 2013
Today eu pre-anaysis during 0700 Horizontal S/R & Trendlines drawn
The 3 Elements of a Successful Trader
- Les Lau replied Feb 5, 2013
eu Tp2 @1.3546 taken.. 80 pips, wohoo
The 3 Elements of a Successful Trader