- Post #2,763
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- Oct 18, 2012 2:39pm Oct 18, 2012 2:39pm
- Joined Nov 2010 | Status: Go with PA | 4,217 Posts
- Post #2,764
- Quote
- Oct 18, 2012 2:45pm Oct 18, 2012 2:45pm
- Joined Nov 2010 | Status: Go with PA | 4,217 Posts
DislikedI was reading this thread at school and found motivation for another go with forex.
Because I can only trade US session and I have not managed to make consistent wins at smaller timeframes I'm trying to trade the big timeframes with too much risk%(nothing I can't afford to loose tho).
When xologeis took that long trade on EUR/USD 15M I was looking for a bigger picture short and because I had to leave PC I took it after this bar on 15M.
My idea was to get a good enough R/R for tg 1.3
Is this something I shouldn't be doing at all? I would have...Ignored
DislikedIgnored
DislikedLooks good now
edit: I was also looking at AUD/USD and GBP/USD. But decided it's basically the same trade and chose EUR/USD. Cable would have maybe been better setup tho?Ignored
DislikedThe single most important thing to get somewhere in trading is setting parameters for a trade that keep you from making it up as you go. That's what gets you into trouble. Trade small... tiny to start... so that you can leave your trades to do what they will.
I trade both directions at the same time on different accounts, bigger timeframe setups, pre-planned and mapped out that I leave alone, and scalp
away for others. But I have a reason for each and parameters that tell me when they are not doing what I want.
So keep yourself from going insane...Ignored
DislikedLooks good now
edit: I was also looking at AUD/USD and GBP/USD. But decided it's basically the same trade and chose EUR/USD. Cable would have maybe been better setup tho?Ignored
DislikedIt is fine to choose one but I usually spread my bets over a few pairs. E.g. if you are looking at GU and EU then you might want to have EUR/GBP up as well to see which way it is heading. Cross referencing like that helps give you an idea what moves are about and which to choose if you have to decide. E.g. if you look right now EU and GU are reacting but AU and EJ are not really. So you can figure out what is the general market sentiment as to risk on/off etc.
So e.g. like earlier this week UJ was pushing up strongly and so was EU, strong euro,...Ignored
DislikedI have been trading demo/real for some time now. Every time I figure out a way to possibly make money and start develpoing on that I just realize over and over again that trading small enough timeframes from S/R areas(FX) is the only true way to make trading financially worth the effort.
And then I try to jump it with 10 pairs and can't keep up with what I'm doing.
This time I'm trying to trade less(I only took the eur this time when I could have taken AUD and GBP also) and trade big enough picture and slowly go up from there as I learn.
I'm...Ignored
DislikedEveryone saw the drop and thought FINALLY... now they are wondering... what do you think the whales are thinking?
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DislikedEveryone saw the drop and thought FINALLY... now they are wondering... what do you think the whales are thinking?
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Dislikededit: looks like I got closer stop from EUR/USD and as I said earlier my account is very small and I'm risking high%Ignored
DislikedYou can build a small account quickly without risking high %. You will not be able to relax and take stops.
If you are not enjoying your trading then you are risking too much and can't adapt to the market. You will learn either way, trading was one of the best teachers I've ever had about my own psychology etc.Ignored
DislikedI'm not sure what you mean but support at 1.306 was expected. Now it's going to 1.308 or 1.304 and go to my target of 1.3 from thereIgnored
QuoteDislikedWho do you mean when you talk of whales? In poker terms whales are the food for sharks.
DislikedI have my risk and psychological aspects covered. It's not the first "gambling" hobby for me
The thing is that I'm just not ready to trade the small timeframes with tight SL yet. That way I won't be able to relax and take stops. I get confused and start blaming myself for making too many (bad)decisions too fast.
But I'll get there...Ignored
DislikedBut that's just it. It is much easier to take a small stop on a smaller timeframe than take a 100 pip stop on H4 with a small acount.
And besides, thats not taking a stop, that's thinking it won't get there and 'hopium" ;DIgnored
DislikedBut that's just it. It is much easier to take a small stop on a smaller timeframe than take a 100 pip stop on H4 with a small acount.
And besides, thats not taking a stop, that's thinking it won't get there and 'hopium" ;DIgnored