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Re: The Advantages of Trend Trading/Wayne/Trades

Hi Trades,

Thanks for bearing with that Corn discussion last night !!!

Going through all of that last night certainly firmed things up in my mind !!!!

I think I should try to find time to go through that complete chart and explain it, right through today. Would be a good "exam" for me !!!

Also have to look at what I did with that trade last night.
When I shorted at 665 I viewed it as a bounce off 672 resistance and shorted. (Also would have been a counter trend trade at that point as we resolved the "trend" in that discussion as being "up" at that point - at least short term.)

Clearly, it didn't pan out, turned and went back up. Initially I felt the stop belonged above 672. On further thinking (and the fact that it actually hit 678) before turning back below 672 I just bailed when it turned back up rather than letting it get back above 672.

I was trading off the intraday chart but treating things as a bounce off 672 resistance was a "technical error". I should not have entered that trade. And as we can see, it just continued on up !!

On your Dx comments, I follow your Dx charts closely. Always in my mind no matter what I may trade !!!

Given where we are, if you have time an update of the Dx, Euro and Corn charts would be much appreciated giving a "fresh start" to next week, which could prove interesting !!

Dx dropping as it has bothers me. But it may just be a direct result of all of the currency juggling the various Central banks are doing to keep the Yen under control ???

Thanks, Lee

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Re: The Advantages of Trend Trading/Wayne/Trades