Dealing with sharp upturns or downturns?

Discussion in 'Trading' started by Lethn, Apr 19, 2010.

  1. Lethn

    Lethn

    So I said before that I wasn't losing money anymore, I still am not, but I have this problem where I'm having to deal with sharp upturns or downturns and I always seem to have the bad luck of getting it on the negative. Is this just something I have to put up with in order to get more capital or is there a way I can actually make money from this? I've tried to predict them but I can't see any identifiable pattern to when they actually occur. The problem is this eats out a lot of my time trading and it takes awhile to get me out of the negative in profit.
     
  2. Kubinec

    Kubinec

    If it was so easy, ET would be a ghost town as everyone would be too busy raking in millions.

    Obvious answer is stops.

    It also depends on the duration of the move, and how sharp it is relative to previous price action.

    Maybe post a chart?
     
  3. Lethn

    Lethn

    I just realized why thing were so hard and I feel like bashing my head against something blunt right now, I just and I mean JUST discovered daily, weekly and monthly charts.

    I've been going on tick charts which is why I've had such a hard time.

    [​IMG]
     
  4. Kubinec

    Kubinec

    Is it me or am I seeing Gartleys on almost every chart I'm look at today? If Gartley patterns are worth anything, that's a good bullish play right there, although a tad bit late.

    Did you mean you used tick charts to display daily and weekly price action? That's a lot of ticks.
     
  5. Lethn

    Lethn

    Exactly, no wonder I was having such a hard time >_<

    I feel seriously stupid now, but a lot happier I've gotten round this problem lol! Thanks for what help you could give :)
     
  6. Kubinec

    Kubinec

    Welcome :)

    I guess the "duration of the move" part did it.