Disliked{quote} Good to see you posting again mr pip .... This thread is about to get even better with you back aroundIgnored
Ratios & Harmonics: a Different Way to Trade
- #29,864
- Jul 5, 2017 9:44pm Jul 5, 2017 9:44pm
{quote} Very sorry to hear about your losses. First thing you need to do is stop trading and not try to make up for your losses immediately. You need to review your trades and identify the mistakes you made (technically and emotionally). Do not trade again until you identified your mistakes. And if you start trading again, make sure you don't make the same mistakes again.
yes now that i am calm again and slowly review my trade last night i realise that most of my trade yesterday were based on my emotion and i was struggling to try to recover my losses after my first loss. Now that i am looking at my chart again, i realise that i was trying to trade a potential retracement to at least the 38.2 since there was structure there and possible chance of me taking the long after the retracement. My expectation on that day was for a NSH base on the momentum and projection in the day and i should have waited once i got stopped out on my first trade.
Will take a walk with my wife today and take a look at mr pips video again to see what i have been missing.
Pretty bad day for me today as well, didn't know trading on live account can make a person lose his mind so easily,thought i could handle it but i guess i was wrong. Almost did not want to make my post here today but since i decided to make here a place to keep track of my performance i had to do so. NQ: Expectation: NSH / Result -163 pips: i really have no idea why did i even enter those trades after the first 1 - Really shouldn't do it again. Does anyone here have suggestions on how do you regain your composure after...
Sorry to hear about your loosing day, keep your head up! Believe in yourself!
Maybe you have a dog to walk with when u have a loosing streak? taking a walk a go for a run helps me to think clearly and gain strenght and motivation.
- #29,870
- Edited 2:32am Jul 6, 2017 1:02am | Edited 2:32am
- | Joined Nov 2016 | Status: Trader | 1,121 Posts
{quote} Thanks Peter
Remember that the emotions you are experiencing and the way you behave because of them are not unusual.
It's perfectly normal actually. Although not desireable
As traders we need to keep emotions out of our thinking. You know that of course. But we are not robots, we are humans.
And so we sometimes fail to do so. In the beginning we fail a lot. When more experienced we will have more and more control over our emotions.
You (and I, and others) are going through a learning curve. Knowing how to trade technically is only part of the story.
Now you are starting to work on the other part
Learn to be emotionless over your losses but also, very important, over your winners.
Try not to be extatic when you have a big winner. That will also make it easier to stay calm when you have a big loser.
Don't give up. Don't feel alone.
Stay on this thread. It's gold. People are willing to help you out as you can see.
Post your questions if you want advise on your trades. It has helped me a lot already.
Learn from your losses as much as you can. The money you lose is the price you pay for the lesson.
So you better make sure that money is well spent!
You don't pay twice to take the same course, so try not to make the same trading mistakes over and over again (easier-said-than-done-warning
)good luck
grtz Peter
{quote} I (and probably everybody on this thread) have experienced the same (and still experiencing).
When things don't go right i open and read... Thanks again Peter..... Good morning
USDJPY... Expectation NSH....
- #29,872
- Jul 6, 2017 1:35am Jul 6, 2017 1:35am
- | Joined Nov 2016 | Status: Trader | 1,121 Posts
{quote} Thanks for the encouraging words... i always save such motivating words somewhere.... When things don't go right i open and read... Thanks again Peter..... Good morning USDJPY... Expectation NSH....
On the intraday it's NSH and also on longer term.
But I don't know how to feel about it.
Price made quite a deep correction on the longer term (past 78.6) after making a kind of weak NSH.
So seeing a little weakness on the bulls on long term.
And I may be mistaking but also seeing more accumulation from the bears yesterday and today.
Maybe in preparation of a move down?
I'll keep it in mind, not sure what direction to trade yet
But expectation is NSH for sure.
{quote} Good morning! On the intraday it's NSH and also on longer term. But I don't know how to feel about it. Price made quite a deep correction on the longer term (past 78.6) after making a kind of weak NSH. So seeing a little weakness on the bulls on long term. And I may be mistaking but also seeing more accumulation from the bears yesterday and today. Maybe in preparation of a move down? I'll keep it in mind, not sure what direction to trade yet
More than i expected
- #29,874
- Jul 6, 2017 1:59am Jul 6, 2017 1:59am
- | Joined Nov 2016 | Status: Trader | 1,121 Posts
USDJPY short
Against expectation. Lord forgive me.
Why?
Because:
- Price corrected past 78.6 longer term
- bears have been accumulating
- short term bullish move 1:1 completion (almost)
- longer term down move 1:1 completion, and the up move today is at 61.8% of this 1:1
- the short term move up: bulls losing momentum, and couldn't make a NSH in the last immediate 'swing'
I thought I'd go short if price broke below the immediate structure (purple), indicating that a deeper correction was necessary.
Target is at least a deep correction of the last short term swing. Maybe 61.8 of the 1:1. Maybe deeper.
Right now at BE as I have some distractions and can't trade. So giving it room for more. We'll see.
Against expectation. Lord forgive me.
Why?
Because:
- Price corrected past 78.6 longer term
- bears have been accumulating
- short term bullish move 1:1 completion (almost)
- longer term down move 1:1 completion, and the up move today is at 61.8% of this 1:1
- the short term move up: bulls losing momentum, and couldn't make a NSH in the last immediate 'swing'
I thought I'd go short if price broke below the immediate structure (purple), indicating that a deeper correction was necessary.
Target is at least a deep correction of the last short term swing. Maybe 61.8 of the 1:1. Maybe deeper.
Right now at BE as I have some distractions and can't trade. So giving it room for more. We'll see.