pantheo
Short

Nice DAX dive after pin/outside reversal

FX:GER30   DAX index of German listed shares
63 13 1
at 2,618 fib supply zone again
CONTROL WHAT YOU CAN

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Prits187 PRO
2 years ago
please advice, i have 2 sell position but in heavy red as i opened then near to the end of today's drop. should i leave it open or should i close?
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pantheo PRO Prits187
2 years ago
My friend where you entered is the EMA21 and 1,272 fib of the last big swing. Right there I closed two positions.
snapshot

As you can see there is small momentum divergence in the daily, which is far bigger in the weekly.
snapshot

I still have one short position with SL at 10.050. The trend is bullish though.
My advice is never go in a trade without knowing where exactly is invalidated and you have to get out and second manage your risk/reward to at least getting in trades with 1:2 R/R at least! Trust me, I've been there, done that. This simple logic will make you a far better trader and a more relaxed person. I can't tell you what to do, I'm sure you understand why, but I'm telling you that I'm still short one position towards 9,780. If loose, it's just a trade. There will many others that will be winners.

I'm wishing all the best to you and to yours my friend.
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Prits187 PRO pantheo
2 years ago
thank you so much for you response.

iv only been trading for last 5 months and iv made some huge loss and im sure i will make money more loss before i learn. i know this game can never be learnt easy way. im keeping my trade open as i feel tomorow there will be another huge drop which im hoping ill come out green.

thank you for your advice and ill be keeping my eyes on your advice.


hope you all the green pips

prits
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pantheo PRO Prits187
2 years ago
You are welcome Prits,

very kind of you.

I told you, been there, done that. Passed through the hell, I was addicted big time the first years and it's not embarrassing anymore to admit that I blow up two accounts. And then I sat my ass down and kept reading and practicing for two years 12 hours per day, when I wasn't working in my day job.

I have the confidence in you that will become what you wish for through your talent and hard, hard work. It's a profession here, as in everywhere. We cannot compete with professional athletes - can we?- unless we become one. it's the same here. I end up trading from my laptop and the expensive desktop tradestation I bought, it's turned on once every week to manage the weekly trades which are 99% of my trades. 1% its my old, junky, attitude either daily or 4H if I see something that's screaming, usually when I'm bored and hate to say most of them are not something special at the end of the day.

I trade simply. Supply/demand, couple of moving averages and sometimes RSI or Ichimoku to check momentum or if there is any momentum divergence taking place. And Fibs.

Google Sam Seiden about supply/demand trading. Google Nial Fuller about price action. Master them. It's what I did for a couple of years. Regarding traders psychology I follow and read this guy too http://traderfeed.blogspot.gr/2014/06/minding-our-embodied-cognition.html

I hope these will be helpfull to you as been to me.

All the best my friend

Panos
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Prits187 PRO pantheo
2 years ago
i will check them out, thank you.

iv sent you PM if you get a chance to check it please.

i do 100% of my trading on my mobile. i dont get time to go on laptop to do my trades. i go on laptop over weekends to watch videos and read things up to improve my trading.

i look forward to your reply on PM.

Prits
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pantheo PRO Prits187
2 years ago
What do you meand "sent you PM"? Precious metals? Sent it where?
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Prits187 PRO pantheo
2 years ago
Hi.

I mean I sent you a private message.
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pantheo PRO Prits187
2 years ago
lol:-) I didn't knew that there is a private message function in TV. Let me find it somewhere.
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Prits187 PRO pantheo
2 years ago
whats your thoughts of ger30 today? up or down
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pantheo PRO Prits187
2 years ago
Doesn't changed anything so far. EMA8 downslopping to EMA 21, but MA50 still upwards, hence it's still a bullish chart. If close below 9831 might have a possible short term double top with a possible target of 9630 area. Apart from technicals yesterday was the Dubai reaction imho, thats crashing but approaching support. Now that you are winning place your stop at the high of yesterday's candle to decrease your risk.
snapshot
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Prits187 PRO pantheo
2 years ago
Thank til for your response.

I took my loss yesterday with buy position. But I opened a sell position this morning making a small profit.

I want to in the big down trend. Hopefully make all my loss back
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Prits187 PRO Prits187
2 years ago
Apologies for poor sentence. I'm writing from mobile so it's hard to see what I been writing till I send it.

What platform you trade on? I'm on etoro.

Wish tradingview.com had a app for android
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pantheo PRO Prits187
2 years ago
No problem my friend. My advice is to stop trading from the mobile until you double or triple your demo account. Study first, be patient and you will be rewarded with your discipline and hard work. All the best , off to work now. I trade through 3-4 different platforms
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