Jump to content



Photo

One for Nav


  • Please log in to reply
1 reply to this topic

#1 OEXCHAOS

OEXCHAOS

    Mark S. Young

  • Admin
  • 22,027 posts

Posted 06 August 2007 - 01:57 PM

Nav, I remember the other day you muffed one so I thought I'd share my screw up... Well, we got a long set up (that I actually saw) so I bought and we got long at 144500, target 145600. Then the trend got a little iffy, but turned back strong, and then we got overbought. I made the mistake of looking at a 1 minute chart, and that was just enough to throw me off and I blew them out at 145075 like some rank amateur. :angry: :blush: Note to self: once in a position, especially a prudent, well considered position, put your stop and target in and leave or at least move to an hourly chart. Sure, any 5+ point profit is nice but I left way too much on the table. The one minute chart is the enemy! Mark

Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter


#2 rkd80

rkd80

    Member

  • Traders-Talk User
  • 2,385 posts

Posted 06 August 2007 - 02:11 PM

Ay, Nav has mentioned many times that looking at anything lower than 30-min is bad news and just leads to mistakes. I have followed his advice and got rid of all those charts. Makes it simpler that way.



Nav,

I remember the other day you muffed one so I thought I'd share my screw up...

Well, we got a long set up (that I actually saw) so I bought and we got long at 144500, target 145600. Then the trend got a little iffy, but turned back strong, and then we got overbought. I made the mistake of looking at a 1 minute chart, and that was just enough to throw me off and I blew them out at 145075 like some rank amateur. :angry: :blush:

Note to self: once in a position, especially a prudent, well considered position, put your stop and target in and leave or at least move to an hourly chart.

Sure, any 5+ point profit is nice but I left way too much on the table. The one minute chart is the enemy!

Mark


“be right and sit tight”