Dear frens and forummers, i set up CHRISSYCONN to share our trading and investing ideas. We shall start afresh in this new place WE proudly call HOME .
It is our dream to become a Successful Trader as well as a Super Investor. To make our dream comes true, we embrace TA, FA and a business mentality.
Yes, we will be stressful pursuing our dream .... so ps feel free to share your humour with us so long as IT IS not offensive to anyone in this HOME.
Lastly, we would like to remind everyone to trade / invest at own risk should u choose to buy our stock pick .
FOR CHARTS, PLS VIEW OUR BLOG
http://chrissyconn.blogspot.com/
rchiiii ... i was also monitoring t7 like a hawk ! break 0.53 buy ... unfortunately went for facial, came back, peeped and she has blossomed without me :(
haha, my mplus tipu punya, i masuk ambank 4.79, set atr(2) stop, next day i saw the price terus hit my cut loss and rebound, and the price now is >4.8...
oh rchi .. u are monitoring for a break out eh ??? if the vol builds up, think got good chance it will break and manage to hold the momentum ... the candles on 1H chart are slowly and steadily charting up hugging the 10EMA ... not like the big one on 23/1 (5pm) !
alex .. how do u set based on ATR ?? let me show an example :- 1) say u buy counter ABC today at 0.95 2) the closing ATR of the candle is 0.01 3) the low of the candle is 0.90 4) so, u calc your SL as 0.90 less 0.01 x 2 ??
normally my ATR will follow my entry price...so if my entry price is 0.95, then the calculation would be
0.95 - 0.01(2) = 0.93 cut
but the price is too sensitive...if use stop limit function, very easily get stopped out. In fact, i got another trade where the seller simply testing sell 10 lot down, and triggered by stop loss, and then price went back up.
So jahat...
====
alex .. how do u set based on ATR ?? let me show an example :- 1) say u buy counter ABC today at 0.95 2) the closing ATR of the candle is 0.01 3) the low of the candle is 0.90 4) so, u calc your SL as 0.90 less 0.01 x 2 ??
oh alex ... based on entry price i think it's too tight !! no room for your counter to breathe eh ?? minimum is the candle low ... better still is the previous swing low but then affect position sizing
rani .. every wave goes thru' a cycle !! for sime; in terms of short-term waves on the hourly chart, quite likely the last wave 5 is terminating soon ... it's a rising wedge pattern which is very common ... u can also see that momentum is waning on this last push ... if u are still bullish bias longer term (based on daily or weekly), then u just have to brace the short-term retracement ie for price to find new equilibrium to move up !
but u still gotta monitor closely ... if price breaks above the upper boundary of the wedge, then this may nullify the first theory !! more so if break and then find support from the upper line, the bearish bias is negated
rani .. waves are formed by peeps buying and selling / profit taking :) if u are in already, then just trail your profit based on preferred method .. say if u don't want to hold so long shud a retracement take place, then sell when price closes below 10EMA or break of trendline or break of previous candle low ... for some traders (eg mr otb who throws in FA to trade), he may only let go if price closes below 50EMA eg .. in this case, u must have holding power and a great deal of patience :)
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Posted by Christine Goh > 2014-03-11 21:40 | Report Abuse
Dear frens and forummers, i set up CHRISSYCONN to share our trading and investing ideas. We shall start afresh in this new place WE proudly call HOME . It is our dream to become a Successful Trader as well as a Super Investor. To make our dream comes true, we embrace TA, FA and a business mentality. Yes, we will be stressful pursuing our dream .... so ps feel free to share your humour with us so long as IT IS not offensive to anyone in this HOME. Lastly, we would like to remind everyone to trade / invest at own risk should u choose to buy our stock pick . FOR CHARTS, PLS VIEW OUR BLOG http://chrissyconn.blogspot.com/