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Ryan Phua

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Could someone tell me what went wrong in this trade.
« on: July 09, 2015, 04:58:18 AM »
This is the Second trade which didn't work for me that night. The first one was mentioned in the post before.

I traded the SPX500 here using the 321 method. The charts attached are the 0.75R,0.5R and the 0.25R respectively. As we can see from the 0.75R chart to the extreme right, there was a change in trend and then the pullback into the super guppy. I went to check the 0.5R chart and similarly, it showed red range bars and a similar trend then pullback. I went over the the 0.25R chart to look for the entry and there was perfect guppy's firing inside the channel. I took the ants signal just before the change in the range bar colour( at that time i did not know that the range bar was going to change colours). After which, the trend worked against me and prices went up. Anyone could tell me what i did wrong in this trade?

Also another side point. what happens if the range bar changes colour in the 0.25R charts but has yet to do so in the 0.5 or the 0.75R charts? Is this an early signal that there is going to be a trend change and the 0.5R & 0.75R charts will most likely follow suit as well?

Anthony

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Re: Could someone tell me what went wrong in this trade.
« Reply #1 on: July 13, 2015, 09:51:01 AM »
Hi Ryan

You didn't really do anything wrong, however, I would really try to get your entry inside the zone as close to the base of the SuperGuppy as possible.

A change in colour is a "heads up" of a potential change in direction but are more relevant on the direction chart you are using as apposed to the entry chart. Your Direction chart, 0.75R, is the chart you are in effect trading, the 0.25R is only your entry chart. So keep your focus of direction based on the 0.75R and dont worry too much about the change of colour on the 0.25R as this will happen on a retracement in any given move.

Ryan Phua

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Re: Could someone tell me what went wrong in this trade.
« Reply #2 on: July 13, 2015, 11:29:14 AM »
Hi Anthony,

Thanks so much for taking a look at the wrong trades and it is indeed comforting that i am not doing anything severely wrong.

With regards to taking a trade as close to the Superguppy as possible, i always try to do so. But however, is it better if we try and take trades on the other side of the super guppy? In this example, there are  Red Ants firing to the top of the entry channel/zone and if we are taking a short position, given that our Stop loss would be at the edge of the zone, would it be better to take trades closer to the top of the entry zone as it means a much lower risk as the stop loss would be placed very very tight.

Also, noted with regards to the charts and which to focus on. Am i right to say that i will exit my trade on these situations:
1. Prices changes direction( presence of the orange range bars) followed by the opposing range bar colours on the the direction chart, 0.75R chart.
2. Prices go past the ATR levels on the middle chart.
3. Prices prints on the wrong side of the entry zone on the entry chart.
4. Prices reach 75% of the ADR levels on the Direction chart.
5. Or simply if you have attained your fixed take profit e.g. 20pips.

Look forward for a reply from you!


Regards,
Ryan


Thanks,
Ryan

Anthony

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Re: Could someone tell me what went wrong in this trade.
« Reply #3 on: July 13, 2015, 11:32:25 AM »
Hi Ryan

Yes the deeper you enter the trade the better, therefore reducing risk.

In terms of exit, yes you are correct with your list of reasons to exit.

Ryan Phua

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Re: Could someone tell me what went wrong in this trade.
« Reply #4 on: July 13, 2015, 11:44:00 AM »
Alright thanks Anthony for your input! I will look to improve upon my trades!

 By any chance, are you conducting any webinars? I have asked Oanda and they said there are no webinars available for the ANTSSYS. It would be good if you could do one for the Chart IQ users in Singapore haha.


Thanks,
Ryan

Anthony

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Re: Could someone tell me what went wrong in this trade.
« Reply #5 on: July 13, 2015, 11:45:55 AM »
Hi Ryan

Yes, we are planning to do some webinars soon, you will receive an invite to attend as soon as we have the dates.

Ryan Phua

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Re: Could someone tell me what went wrong in this trade.
« Reply #6 on: July 13, 2015, 11:57:55 AM »
Alright will be looking forward to that!

Thanks,
Ryan

Bobiqe

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Re: Could someone tell me what went wrong in this trade.
« Reply #7 on: November 12, 2016, 02:16:58 AM »
Hi,

Any more webinars in the near future?

Regards,

David