17 january, awaiting the end , page-62

Howdy totters, 10 & gang (I am sure you will appear here at some stage like vampires in the night?), I came over here to get away from the share specific argument on Charts. That Debate will land somewhere I guess.

Have a Q for you CFD masters if I might. I have been increasing my trading success dramatically recently with tips from you guys but last night I stumbled on another trick. Totters posted the other week that he ?catches falling knives? when he makes a trade based on a support/ res line (I suspect commonly attached to a fork LOL). Just loved that quote as it is inverse to the classic but of course it is based on maximising R/R ratio. Did not get it 100% at first but starting to appreciate more and more.

Anyway last night had a short on DAX & price after falling away earlier was rapidly approaching my res tyne with one of those long probing green fingers we hate; a month ago I would have pushed the close position in panic as losses mounted b4 it got to the stop ( my stop was a few points above the res tyne). All logical? Well last night I heard totters voice ? I catch falling knives? I doubled my position and we promptly got a reversal just shy of the res tyne; I had twice the position working for me as price moved in my direction..

I just figured (on the spot & NOT within a plan) as it was approaching a line that I was confident in and the closer it got the R/R increases exponentially. If it broke I lost a few pennies; as it was I made twice as many pounds.

Am I crazy?

PS I know this wher u guys come to play with your nightly trades & is NOT an advice forum so tell me to knick off if u like!

gj