If you are looking at a chart to enter....
put stops where you think they might not reach...not because it's 5/10/15/20/25/30 etc
put stops where you think they might not reach...not because it's 5/10/15/20/25/30 etc
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Disliked{quote} 1. don't chase it. 2. be patient, before you enter 3. be patient after you enterIgnored
DislikedIf you are looking at a chart to enter.... put stops where you think they might not reach...not because it's 5/10/15/20/25/30 etcIgnored
Disliked{quote} {quote} Thanks.. i'll be careful.. i finally managed to close it at BE+1..Ignored
Disliked{quote} You have/had BE+50 potentially here, it came back to +1 very quickly, either: 1. you didn't have faith in the trade to begin with, in which case you should not have taken it, or 2. you thought the market dynamics suddenly changed (doubtful you thought this as there is/was no reason, because there is nothing that changed there) or 3. you got scared out of your trade...in which case, you let it go before it hit your stop (what's the stop for then) or 4. you were trading with a mental stop and decided to close it after it came back in which...Ignored
Disliked{quote} ya, i got scared.. i moved my sl 10 more pips down and got my tp down to BE+1.. funny, now the price got above my original tp.. i need more patience.. i'm using 10p sl for the past two days and lose them all in the zigzag..Ignored
Disliked5mn volatility about to turn up at around 47, 1mn is up and half of 5mn is up.... Like yesterday entry at 35 could be a swing trade going all day (hopefully) {image}Ignored
Disliked{quote} Your sl is too simplified. If you are going to trade like that and you are getting slammed with 10 and losing them all at 10, then the solution is soooo simple. When you see something and think "Oh I should buy/sell..." then put in a limit buy/sell +/- 10p away from market and just wait it out, and keep your original TP, this way you put RR in your favorIgnored
Disliked{quote} thanks.. i'll try it out.. i had a crazy idea.. open a mini lot position and immediately trade against it in micro lot.. tricking the market(as if its alive) with my first order.. haha..Ignored
Disliked{quote} Come on man. You sound like a sharp kid. This is one of most difficult and challenging games on the planet, you gotta take it seriously. You're competing with the brightest minds everywhere.Ignored
Disliked{quote} Thank you.. i'll try harder.. i'm reading on some books and guides.. i dont want to compete, but just co-exist.. it seems thats not even an option.. sorry for all these, i'll stick to trading.. so, is 0950 resistance turned support now?Ignored
Disliked{quote} suggestion: find yourself used copes of 1. Trading Wizards by Jack Schwager 2. Trading Wizards 2 by same They will give you insight, ideas, and inspiration, and show you what you are involved with...Do not trade until you've fully read both of these books.Ignored
Disliked{quote} Thanks.. i'll get to them this weekend itself.. BTW, it is Trading Wizards or Market Wizards? there's 2 books, Market Wizards and New Market Wizards.. By Jack Schwager.. are these the books u referring to?Ignored
Disliked{quote} Right. Sorry. MARKET WIZARDS. You can get the first one in PB not sure about the 2nd one.Ignored
DislikedSome of the stuff in the books is outdated like the CME/CBOT floor trading stuff. Many/most of those pits have gone almost 100% electronic. However, the principles and mindset APPLY 100%. IN fact, the traders who were pit traders then are off floor on screen traders, many transitioned years ago.Ignored
DislikedI would sell below 64, not 50 But for now still looking for opp to buy at 68-70, sl at 63. Bought 72, sl 63, tp 1.10. Risky. {image}Ignored