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6200trading Aug 13, 2019 6:40pm | Post# 121

I got short today on USDCAD on a pending order from the other day. Not the best trade but Risk Reward is good. The EURCAD may have been better. Also reentered AUDNZD after getting stopped out.

You may notice that some over my losses were greater than 1%. This is because I made a withdrawal from my account and the trades were made prior.

yonnie Aug 13, 2019 7:17pm | Post# 122

price action U/C very messy...imo it might go up or down

dont know about shorting A/N now: NZ is very dependent on China and to a lesser extent on Australia.
China is devaluing its currency which will make NZ products more expensive....prices are going down: there is already 6 months supply of wood logs in China ports waiting to be sold.....the NZ dollar is close to its historic high (1.0020) and I think A/N will go up from here for more of a balance of the NZ dollar with the Ozzie dollar.
we`ll see what happens.

6200trading Aug 14, 2019 11:37pm | Post# 123

I just took a quick glance at the daily charts. Nothing new to report.

6200trading Aug 15, 2019 9:54pm | Post# 124

Whenever you trade looking for a move like I do, you must manage risk. It seems I have looking to enter the same trades over and over. The key is to keep the risk at a minimum. This way you can take loss after loss without a big drawdown. Now when the moves come, the profits will far exceed the pre move losses.

yonnie Aug 16, 2019 3:18am | Post# 125

In addition to the pending order on the AUDNZD, if I wasn't already in the EURUSD, I would look for an entry.
I followed your advise on EUR/USD and its now well over 120 pips in profit......
the economy of the EU is slowing down and more pips is certainly possible. thank you

6200trading Aug 16, 2019 7:17am | Post# 126

{quote} I followed your advise on EUR/USD and its now well over 120 pips in profit...... the economy of the EU is slowing down and more pips is certainly possible. thank you
I'm glad for you. Trading is all about getting an edge. I am always looking for entries that will give a nice reward when correct. On the other hand, when I am wrong, I want quick, small and painless.

4xu2 Aug 16, 2019 12:12pm | Post# 127

{quote} I'm glad for you. Trading is all about getting an edge. I am always looking for entries that will give a nice reward when correct. On the other hand, when I am wrong, I want quick, small and painless.
Do you set S/R or S/D zones when you trade ? Or are you simply using dynamic S/R with the Mas?

6200trading Aug 16, 2019 4:32pm | Post# 128

{quote} Do you set S/R or S/D zones when you trade ? Or are you simply using dynamic S/R with the Mas?
Excellent question. I always look for these type of areas for initial stops and also as an area to take some off when a trade is going my way. And on occasion I will take the whole trade off.

6200trading Aug 16, 2019 11:30pm | Post# 129

Making money trading is simply a mindset. As long as you separate your emotions from the trades you make and just let them happen, I believe you cannot fail. At least a couple times a year, I lose several trades in a row. It never fails. The key is that when I lose, the losses are extremely small.

I was asked by an associate from my Medicare business this week (he also follows this thread), if I could trade a lower timeframe. The answer is yes. The only problem would be constant looking at charts. If you want to follow these lower charts, you can do it. I have made money on these charts. In fact, I will state you can make MORE money on these charts if you can discipline yourself to follow these charts.

The most money I ever made trading has been trading 1H charts for signals. I will say it required looking at charts around the clock. The setups are similar. In fact the 200/50/20 SMA has worked very well. There are also other profitable setups that do well.

Know thyself, believe in your methods and just do it. I will say what I say often. Just like it is the killer that kills and not the guns, it is the trader that makes money, not the system.

I threw that political reference in there to illustrate how idiotic the gun control argument is in the US. The rest of the pansy ass countries that have gun control can write their politicians.

Sooner or later, people will learn to take responsibility for their own actions. If you want to be a trader , you will learn this rule sooner than later. I have never met a successful trader that had a bleeding heart. Unless, of course, they got lucky. The billionaire that bet the farm on shorting the pound comes to mind. Of course, it was an all in bet, but the scumbag won. I won't mention his name because he is a menace to society.

6200trading Aug 17, 2019 12:22am | Post# 130

Making money trading is simply a mindset. As long as you separate your emotions from the trades you make and just let them happen, I believe you cannot fail. At least a couple times a year, I lose several trades in a row. It never fails. The key is that when I lose, the losses are extremely small. I was asked by an associate from my Medicare business this week (he also follows this thread), if I could trade a lower timeframe. The answer is yes. The only problem would be constant looking at charts. If you want to follow these lower charts, you can...
This post is for all of you that have this idea that you can pay a mentor to train you how to be a successful trader. Take a real deep breath. You do not need to pay anyone to teach you how to trade!!

Systems and setups are NOT the answer!!!

I am writing this in response to a person that just offered ( after my last post) to PAY me to teach him to be successful.

If you simply follow this thread, you do not need to pay for some "guru" to teach you to trade. What you need to do do is think.

Find a profitable setup and put your emotions in check. That is the answer.

These system sellers have in common is they give you a setup that works and then charges you money to manage your trades. 90% of what they extract your money for is common sense.

Why do you need to pay someone to teach YOU how to think?

Aussi Aug 17, 2019 12:45am | Post# 131

{quote} This post is for all of you that have this idea that you can pay a mentor to train you how to be a successful trader. Take a real deep breath. You do not need to pay anyone to teach you how to trade!! Systems and setups are NOT the answer!!! I am writing this in response to a person that just offered ( after my last post) to PAY me to teach him to be successful. If you simply follow this thread, you do not need to pay for some "guru" to teach you to trade. What you need to do do is think. Find a profitable setup and put your emotions in...
i have taught people how to trade that is >>> basic trading<<<< there is so many things you can not teach , stupidity is one , greed is another one , even when i gave lessons they all wanted to go to greed wanting me to trade for them on there account so in the end it becomes all to hard mate, one or two went on to be good traders others did not.

two years ago i was learning where gold areas can be found paid for a person to show me i joined a group for the day found the first 2 hrs very good in the information i was give so we went out to a old gold field no bits of gold was found so others asked him to take them to an area where he found gold so greed now crept in , he gave in , i told him i am going home he asked me why i told him i was not greedy like the others , he understood and gave me his card and said you want to learn a bit more phone me , so i was happy in the end i have still not found a small chunk of gold but still looking and with the knowledge i learnt from this man i am sure i will at sometime

so in the end both story's are the same its all about greed

6200trading Aug 17, 2019 1:00am | Post# 132

{quote} i have taught people how to trade that is >>> basic trading<<<< there is so many things you can not teach , stupidity is one , greed is another one , even when i gave lessons they all wanted to go to greed wanting me to trade for them on there account so in the end it becomes all to hard mate, one or two went on to be good traders others did not. two years ago i was learning where gold areas can be found paid for a person to show me i joined a group for the day found the first 2 hrs very good in the information i was give so we went out...
Wow! Aussie is the man or maybe, woman! Greed is the number one killer of traders. I once ( years ago) took my trade on the ES, in which I made mega profits( by the way), and changed the risk from 1% to 3% and GUESS WHAT, I would have LOST MY ASS! Instead I made a ton. Think people. Think!

yonnie Aug 17, 2019 1:02am | Post# 133

I have a question.......
right now GBP is in a down trend.....one day, after a pullback to 20/50 sma you have 7 signals to go short.....
what do you look for to choose which one(s) to trade and if you choose more than 1, what will be your position sizes?
thanks

Aussi Aug 17, 2019 1:11am | Post# 134

{quote} Wow! Aussie is the man or maybe, woman! Greed is the number one killer of traders. I once ( years ago) took my trade on the ES, in which I made mega profits( by the way), and changed the risk from 1% to 3% and GUESS WHAT, I would have LOST MY ASS! Instead I made a ton. Think people. Think!
deferentially a man mate

6200trading Aug 17, 2019 1:16am | Post# 135

{quote} Wow! Aussie is the man or maybe, woman! Greed is the number one killer of traders. I once ( years ago) took my trade on the ES, in which I made mega profits( by the way), and changed the risk from 1% to 3% and GUESS WHAT, I would have LOST MY ASS! Instead I made a ton. Think people. Think!
I do need to clarify one thing. Had I had the capital to withstand the drawdown based on margin requirements, I would have made triple the profits. I hope that makes sense.

Aussi Aug 17, 2019 1:26am | Post# 136

{quote} I do need to clarify one thing. Had I had the capital to withstand the drawdown based on margin requirements, I would have made triple the profits. I hope that makes sense.

lemercenaire Aug 17, 2019 5:33am | Post# 137

Making money trading is simply a mindset. As long as you separate your emotions from the trades you make and just let them happen, I believe you cannot fail. At least a couple times a year, I lose several trades in a row. It never fails. The key is that when I lose, the losses are extremely small. I was asked by an associate from my Medicare business this week (he also follows this thread), if I could trade a lower timeframe. The answer is yes. The only problem would be constant looking at charts. If you want to follow these lower charts, you can...
Ah but the Demoncrats don't WANT people to take responsibility for their own actions, don't WANT people to think, as that means they won't have control of them!

Fight the good fight, buddy, Western Europe is already lost.

yonnie Aug 17, 2019 2:48pm | Post# 138

{quote} Ah but the Demoncrats don't WANT people to take responsibility for their own actions, don't WANT people to think, as that means they won't have control of them! Fight the good fight, buddy, Western Europe is already lost.
and New Zealand, thank God...........

yonnie Aug 18, 2019 5:31pm | Post# 139

CAD strong last Friday.......of interest A/C, G/C, U/C


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