Friday, June 19, 2009

06/19 Bearish Engulfing bonanza

Today was a lot better for me! I stayed out of several trades that would crush me like a bug in the windshield like Wally says. I took a trade that looked good but didn't work, and took one that worked fine.

I missed by a few minutes the set-up of two great bearish engulfing patterns that the team observed in the trading room, see the video bellow:

> https://rcpt.yousendit.com/703265638/43dbc5f20310331178b08b1c8b020cb5

After those two trades we still observed several engulfing candle patterns, the team had already taken 2 winning trades when I entered the room but there were several more. The ones I observed were more aggressive than the earlier ones, but they all worked.

Posted by at

2 comments:

  1. TiwariOctober 14, 2009 at 12:58 AM

    hey Gustavo,

    what do you mean by 1:1 target?

    ReplyDelete
  2. Gustavo's TradesOctober 15, 2009 at 4:35 AM

    Hi there, basically it means, if you set your stop at the candle's high/low the 1:1 target is the point where you make the same ammount of profits as you risked with the stop.

    Say you have a 10 pip bullish engulfing candle, you enter at the close and place your stop at the candle's low. The 1:1 ratio would be met when you make 10 pips profit.

    Gustavo

    ReplyDelete

Subscribe to: Post Comments (Atom)