[quote=billye;2884232]chicky thans for clarifying.. sorry I went to eat just now. comments.
[Chicky;2884215]Oh! Now I know the difference.
but I personally believe that the greatest risk is the one not taken.
or take an uncertainty also a risk?
So what I do. I watch PA if think that buying is better than selling, I buy at right price e.g. 1.4104 if PA has moved up from below 1.4100. Now I know it will try to hit 1.4130 40 or 50.
then I move t/p to b/e...
I buy then don't look at the PA just my profit or loss, when it touches my 1% $ amount I close the deal.
then I remove s/l sometimes for fear... was trading 10x acc size recently due to greedy.. a 100pip loss is 10% of acc
Not even fibs (why I would use fibs retracement to know where is 50% fib, I just look at the bar 1/2 the bar is 50% fib, 1/3 the bar is 33.33% fib, etc.).
agree...
The only technical on my chart are few trendlines.
can trend lines cheat us? coz it can be drawn many ways. or wait till a double top , double bottom?
When PA touches a trend line at a round number, I know it will bounce to give 1% 7 out of 10 times.
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Great replies Billye,
My take:
1. I hate uncertainty - all kind of uncertainties in my life. I take a decision just to end an uncertainty no matter how much it costs. Therefore I do not trade if uncertain.
2. I never move SL or TP (unless realize that I by mistake had initially put them in wrong places). This makes me put my sl and tp at realistic points or not to take the trade in first place.
3. I accept the loss before taking it and content with my profit before entering the trade. I don't move not even if I know PA is going to hit my SL or has bounced back 2 pips from my TP.
4. I draw major trend lines using daily and 3H charts. Then smaller trendlines using 15M and H1 chart. However, sometimes they kick me in the butt very hard. especially the M15 or H1 ones.
5. I wait for PA to cross double top. If it does, I go with the PA for some time, close my position with profit then waith for a retrace so that PA comes back to kiss the top it just left. I Play the retrace as well. But I normally also take a chance on bounce for a double top but with a low risk trade because if it shoots, it shoots suddenly giving no time for a trade reversal. I am not very good at placing entry / stop orders.
[Chicky;2884215]Oh! Now I know the difference.
but I personally believe that the greatest risk is the one not taken.
or take an uncertainty also a risk?
So what I do. I watch PA if think that buying is better than selling, I buy at right price e.g. 1.4104 if PA has moved up from below 1.4100. Now I know it will try to hit 1.4130 40 or 50.
then I move t/p to b/e...
I buy then don't look at the PA just my profit or loss, when it touches my 1% $ amount I close the deal.
then I remove s/l sometimes for fear... was trading 10x acc size recently due to greedy.. a 100pip loss is 10% of acc
Not even fibs (why I would use fibs retracement to know where is 50% fib, I just look at the bar 1/2 the bar is 50% fib, 1/3 the bar is 33.33% fib, etc.).
agree...
The only technical on my chart are few trendlines.
can trend lines cheat us? coz it can be drawn many ways. or wait till a double top , double bottom?
When PA touches a trend line at a round number, I know it will bounce to give 1% 7 out of 10 times.
----------------------------------------------------------------------------------------------
Great replies Billye,
My take:
1. I hate uncertainty - all kind of uncertainties in my life. I take a decision just to end an uncertainty no matter how much it costs. Therefore I do not trade if uncertain.
2. I never move SL or TP (unless realize that I by mistake had initially put them in wrong places). This makes me put my sl and tp at realistic points or not to take the trade in first place.
3. I accept the loss before taking it and content with my profit before entering the trade. I don't move not even if I know PA is going to hit my SL or has bounced back 2 pips from my TP.
4. I draw major trend lines using daily and 3H charts. Then smaller trendlines using 15M and H1 chart. However, sometimes they kick me in the butt very hard. especially the M15 or H1 ones.
5. I wait for PA to cross double top. If it does, I go with the PA for some time, close my position with profit then waith for a retrace so that PA comes back to kiss the top it just left. I Play the retrace as well. But I normally also take a chance on bounce for a double top but with a low risk trade because if it shoots, it shoots suddenly giving no time for a trade reversal. I am not very good at placing entry / stop orders.
The Thief of Wall Street