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  • #595,541
  • Feb 15, 2012 11:28am Feb 15, 2012 11:28am
Quoting Tamer.
I am a new trader, What I do is that I follow the trend but actually I lose money every day, because of this crazy trend.

Kindly advise what have I do to be a good trader like any of you?

many thanks
Lost 2 x 5k accounts in the last two years...

I had always to be in the market to get the next move... Lost tons of money with this idea... When the market went against my position I hold my losses waiting for the market to turn on my side... Just trade now using support and resistance and trendlines. Much less trades and much higher odds on our side... Also stop losses when you use support and resistances are much tighter, your loss will be much lesser if the market goes against you. Most important rule, you DON'T have to be in the market always! Wait for a proper setup and trade it. Out of the market is also a trading technique. Good luck to you.
  • #595,542
  • Feb 15, 2012 11:29am Feb 15, 2012 11:29am
Quoting todstars2
im just another trader going through the trials, neither good or bad but these are somethings ive learned are most important.

Timing, Money Management, and Emotional Control

Patience is key. You can be right on the trend and wrong on the support entry price.

If your losing money everyday, it means your jumping on the trend too soon.

Look for prior price support at the price you want to enter and buy as close to it as possible.

Be sure to put a stop behind it so you dont lose all your nut and you live to trade another day if, again,...
...put that stop on quick, before you go broke Tamer...
  • #595,543
  • Feb 15, 2012 11:30am Feb 15, 2012 11:30am
Quoting Tamer.
Started with 500 USD
Now I have only 150 USD

VERY BIG FUCK I AM A LOSSER
As todstars2 Said these things are important


Timing, Money Management, and Emotional Control

As without this you will always loose ok
  • #595,544
  • Feb 15, 2012 11:35am Feb 15, 2012 11:35am
Quoting todstars2
im just another trader going through the trials, neither good or bad but these are somethings ive learned are most important.

Timing, Money Management, and Emotional Control

Patience is key. You can be right on the trend and wrong on the support entry price.

If your losing money everyday, it means your jumping on the trend too soon.

Look for prior price support at the price you want to enter and buy as close to it as possible.

Be sure to put a stop behind it so you dont lose all your nut and you live to trade another day if, again, you...

Yes I think that my problem is "I am not a patient person" but this is because my capital is very small and I wanna increase it ASAP and I think that I did more than one mistake when I did more than one order at the same time so the margin made me lose my trade because of the margin balance.

so
1- be patient
2- don't do more than one trade at the same time
3- follow the trade
4- follow the news
5- read more
6- use stop loss

that's right. Thank you man
EUR/USD Trust your strategy
  • #595,545
  • Feb 15, 2012 11:39am Feb 15, 2012 11:39am
Quoting Tamer.
Yes I think that my problem is "I am not a patient person" but this is because my capital is very small and I wanna increase it ASAP and I think that I did more than one mistake when I did more than one order at the same time so the margin made me lose my trade because of the margin balance.

so
1- be patient
2- don't do more than one trade at the same time
3- follow the trade
4- follow the news
5- read more
6- use stop loss

that's right. Thank you man
Item 4-Follow the news but take it with a grain of salt. Every person and institution out there has their own bias and they may be seeking to sell or buy based on the opposite direction they broadcast to the public, so be careful. Trade your plan.
  • #595,546
  • Edited 12:25pm Feb 15, 2012 11:39am | Edited 12:25pm
Quoting Pipbumper
mm, OK, but overall some euro finance guys are well suited with a crisis ..
just for fun rough rough picture...... just take few second to look please
  • #595,547
  • Feb 15, 2012 11:42am Feb 15, 2012 11:42am
Quoting Tamer.
Yes I think that my problem is "I am not a patient person" but this is because my capital is very small and I wanna increase it ASAP and I think that I did more than one mistake when I did more than one order at the same time so the margin made me lose my trade because of the margin balance.

so
1- be patient
2- don't do more than one trade at the same time
3- follow the trade
4- follow the news
5- read more
6- use stop loss

that's right. Thank you man
Absolutely right and specially no more then one trade as i lost more then once by this as i opened more then 1 entry. and wish u best of luck with yours new aims
  • #595,548
  • Feb 15, 2012 11:44am Feb 15, 2012 11:44am
Quoting Tamer.
Started with 500 USD
Now I have only 150 USD

VERY BIG FUCK I AM A LOSSER
Everybody's been through this...so you're definitely not a looser.

You just need more time to be profitable...you'll make it one day...keep training hard...it worth it mate
COT: The precious data ignored
  • #595,549
  • Feb 15, 2012 11:44am Feb 15, 2012 11:44am
Quoting kuroro001
Be patient...if it's not tonight...wait for tomorrow!
Patience
That's right
it's going down again
EUR/USD Trust your strategy
  • #595,550
  • Feb 15, 2012 11:47am Feb 15, 2012 11:47am
Is it 3070 a test of support? Is it possible for this night a return up? I have a signal but I don't sure this.
  • #595,551
  • Feb 15, 2012 11:52am Feb 15, 2012 11:52am
Quoting opale
Is it 3070 a test of support? Is it possible for this night a return up? I have a signal but I don't sure this.
everyone is looking for that with one's tool, measurement and opinion.
  • #595,552
  • Feb 15, 2012 11:53am Feb 15, 2012 11:53am
....or will the Bulls push this puppy up along the primary trend further before we see that Correction.

Precarious point to be at. I'm loving these EUR bargains personally.

Keep it up Bears!
  • #595,553
  • Feb 15, 2012 11:58am Feb 15, 2012 11:58am
Quoting Tamer.
Started with 500 USD
Now I have only 150 USD

VERY BIG FUCK I AM A LOSSER
Where did you place your trade?
Daytrader
  • #595,554
  • Feb 15, 2012 12:03pm Feb 15, 2012 12:03pm
On the downside if a firm break takes place below 1.3080 then we would expect EUR/USD to retest the recent low of 1.3027 and any break below but more importantly 1.3020 and 1.3000 psychological level will change the near-term outlook to bearish. soon or later
  • #595,555
  • Feb 15, 2012 12:04pm Feb 15, 2012 12:04pm
Quoting comeandlove
Absolutely right and specially no more then one trade as i lost more then once by this as i opened more then 1 entry. and wish u best of luck with yours new aims
..absolutely,
so gotta have the trader's mindset!
no baggage pls
or leave it at the door, because you can get burnt very quick in this game!
oh,btw it's yr money!!
Daytrader
  • #595,556
  • Feb 15, 2012 12:06pm Feb 15, 2012 12:06pm
I am long at 1.3060. Normally I would not take this trade but see some Gartley patterns across multiple timeframes which says Up is next. We shall see.
  • #595,557
  • Feb 15, 2012 12:07pm Feb 15, 2012 12:07pm
hmmm gartley patern? can u show a screen shot?
  • #595,558
  • Feb 15, 2012 12:12pm Feb 15, 2012 12:12pm
Well everyone, I'm actually done for the day I have reached my Fibonacci targets, and to be quite honest this pair is moving in a range that I don't like. Plus the FOMC minutes are at two o'clock so to me there's no more trading for the day. See whoever's around about 6 AM tomorrow. Good luck to everybody peace out.
  • #595,559
  • Feb 15, 2012 12:15pm Feb 15, 2012 12:15pm
Quoting Fawlty
I am long at 1.3060. Normally I would not take this trade but see some Gartley patterns across multiple timeframes which says Up is next. We shall see.
our job is debating always...
this is definite spot for retrace.
as point of timing , it is various argue base on trading style.
for scalp, it is not may be, for trend trader, yes
as my self, stop around 90 pips and 160 pip target ,so on
for swing trader 20 pips stop and 65 pips around target. and more .

this time swing trader has most beneficiary position.
  • #595,560
  • Feb 15, 2012 12:18pm Feb 15, 2012 12:18pm
EUR/USD 50 Minutes Chart - The trend is going down
Attached Image (click to enlarge)
Click to Enlarge Name: EUR USD 15 Minutes Chart.jpg Size: 267 KB
EUR/USD Trust your strategy
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