Move today means it's going much higher. Market needed a few weeks for shorts to add to their positions first.
- #1,130,262
- Aug 25, 2017 5:41pm Aug 25, 2017 5:41pm
- | Joined Feb 2016 | Status: Trader | 473 Posts
Follow the Flow and Grow
- #1,130,263
- Aug 25, 2017 5:52pm Aug 25, 2017 5:52pm
- Joined Jun 2015 | Status: Trader | 14,961 Posts
{quote} I am selling only, no matter how high it goes, banker won't get me, my pockets are deeper than them
I was like this before
Are you long??
Anyway, good week. I'm adding here and there. Let's wait 2 days for spikes. 1.1820 should be nice buy....
1.20-24 for TP or higher.?? With Trumpy and meek Yellen..... just the sky is a limit.
I chart occasionally in my journal. ...
Nice weekend all.
Beware of robber banks (RB), bad advisors. 
- #1,130,264
- Aug 25, 2017 6:27pm Aug 25, 2017 6:27pm
{quote} No such thing as manipulation, just bad decisions and trading against the market. You listed fundamentals...but the guys with the big bucks don't give a fuck about them, its just retailers who think they are smarter than the market, smarter than the chart and all the banks. Just follow the big guys and you will make money, don't be stubborn and don't trade numbers YOU THINK should happen! Market is always right! Oh, and btw I am short on EU towards 1870-1890, which is an easy target for monday, then I will decide what to do from what the...
- #1,130,265
- Aug 25, 2017 6:59pm Aug 25, 2017 6:59pm
- Joined Jul 2016 | Status: Trader | 3,318 Posts
trading is simple but is simple is not easy.
- #1,130,266
- Aug 25, 2017 9:45pm Aug 25, 2017 9:45pm
- Joined Apr 2011 | Status: Hoc Etiam Transibit.... | 6,091 Posts
Simplicity is the ultimate sophistication - Leonardo da Vinci
- #1,130,267
- Aug 25, 2017 11:22pm Aug 25, 2017 11:22pm
- | Membership Revoked | Joined Aug 2017 | 315 Posts
Legends only move ahead!!!
- #1,130,268
- Aug 26, 2017 12:14am Aug 26, 2017 12:14am
- Joined Dec 2014 | Status: Trader | 1,326 Posts
Alright, I've had such a problem with "discipline" that I'm gonna try something new. I KNOW what I should do, but no matter how many times I promise myself that THIS time I'll REALLY do it... well, I just mess up once again. So this time, instead of privately talking to myself about this, I'm going public. Maybe this will SHAME me into doing the right thing. 
So here's my thing. I've mentioned here several times that I like scalping. And while most of my trades (maybe 80%) fit the definition -- in and out within a few minutes, half hour max -- every once in awhile I switch off. And inevitably, I mean almost ALWAYS, that one losing trade I hang onto goes from small loss, to big loss, to... sometimes massive loss. I've literally had 20 small-to-moderate winning trades in a row, only to have this one UGLY trade just hanging there. While I'm opening and closing other trades, usually with small profits, I just let the negative one go... and go, and keep going. Sometimes my account balance can look really good, and continue to grow as I open/close the small trades, while my equity just keep DROPPING... slowly but surely. And all because I didn't want to close the thing when the loss was still small. "Holding onto a loser"... yep, I MUST stop that.
Which is why I'm posting this. As I said, it does me no good to promise myself I'm gonna do XYZ if I'm the only one who knows about it. So right here, right now, I'm saying to the world (at least Planet FF) that from now on I will scalp, and ONLY scalp... AND I will cut losses while they're really small. I know about "letting winners run", and I'll try to do that up to a point... but only short time-frame. I have no intention of hanging onto something for a long period of time (which to me means hours), even if I think it's gonna keep going my direction.
What prompted this post was what happened today. I had several trades open that were underwater (some a few hours old, some a few days), but were slowly coming back my way. But just when I started thinking I was gonna get lucky and be able to start closing them one-by-one, in profit or at least B/E... BOOM! Janet does her thing! Or actually, I'm not even sure it was her fault... which is part of what is so aggravating and scary to me. That huge move seemed not at all warranted. If anything, it seemed to me that if there was gonna be a spike today it would almost certainly be down instead of up, considering how (IMO) overbought the Euro seems to be recently. So yeah, I'm just sitting there watching that hard, fast move against my positions, thinking, "Yeah, nice you scumbag! No reason you couldn't have gone the other way, you just HAD to go against me, didn't you?" And yep, I trashed my account in a matter of minutes... something that would have been impossible had I been following my own advice regarding trade size and time. Now that I think about it, I suppose I should be happy it happened at 9am with Yellen... because had my trades survived that one, it would have just prolonged the inevitable a few hours later... aka Super Mario Time.
So that's it... I've now admitted what an idiot I've been, and now if it happens again you'll all be able to point at me and laugh. And I do NOT like being pointed at and laughed at!
Oh, and I'm seriously thinking about starting a publicly-viewable Trade Explorer to further help keep myself in line.
So here's my thing. I've mentioned here several times that I like scalping. And while most of my trades (maybe 80%) fit the definition -- in and out within a few minutes, half hour max -- every once in awhile I switch off. And inevitably, I mean almost ALWAYS, that one losing trade I hang onto goes from small loss, to big loss, to... sometimes massive loss. I've literally had 20 small-to-moderate winning trades in a row, only to have this one UGLY trade just hanging there. While I'm opening and closing other trades, usually with small profits, I just let the negative one go... and go, and keep going. Sometimes my account balance can look really good, and continue to grow as I open/close the small trades, while my equity just keep DROPPING... slowly but surely. And all because I didn't want to close the thing when the loss was still small. "Holding onto a loser"... yep, I MUST stop that.
Which is why I'm posting this. As I said, it does me no good to promise myself I'm gonna do XYZ if I'm the only one who knows about it. So right here, right now, I'm saying to the world (at least Planet FF) that from now on I will scalp, and ONLY scalp... AND I will cut losses while they're really small. I know about "letting winners run", and I'll try to do that up to a point... but only short time-frame. I have no intention of hanging onto something for a long period of time (which to me means hours), even if I think it's gonna keep going my direction.
What prompted this post was what happened today. I had several trades open that were underwater (some a few hours old, some a few days), but were slowly coming back my way. But just when I started thinking I was gonna get lucky and be able to start closing them one-by-one, in profit or at least B/E... BOOM! Janet does her thing! Or actually, I'm not even sure it was her fault... which is part of what is so aggravating and scary to me. That huge move seemed not at all warranted. If anything, it seemed to me that if there was gonna be a spike today it would almost certainly be down instead of up, considering how (IMO) overbought the Euro seems to be recently. So yeah, I'm just sitting there watching that hard, fast move against my positions, thinking, "Yeah, nice you scumbag! No reason you couldn't have gone the other way, you just HAD to go against me, didn't you?" And yep, I trashed my account in a matter of minutes... something that would have been impossible had I been following my own advice regarding trade size and time. Now that I think about it, I suppose I should be happy it happened at 9am with Yellen... because had my trades survived that one, it would have just prolonged the inevitable a few hours later... aka Super Mario Time.
So that's it... I've now admitted what an idiot I've been, and now if it happens again you'll all be able to point at me and laugh. And I do NOT like being pointed at and laughed at!
Oh, and I'm seriously thinking about starting a publicly-viewable Trade Explorer to further help keep myself in line.
- #1,130,269
- Aug 26, 2017 12:35am Aug 26, 2017 12:35am
Alright, I've had such a problem with "discipline" that I'm gonna try something new. I KNOW what I should do, but no matter how many times I promise myself that THIS time I'll REALLY do it... well, I just mess up once again. So this time, instead of privately talking to myself about this, I'm going public. Maybe this will SHAME me into doing the right thing.
Source:Oanda Clients
Pat
- #1,130,271
- Aug 26, 2017 1:04am Aug 26, 2017 1:04am
- Joined Jul 2016 | Status: Trader | 3,318 Posts
Alright, I've had such a problem with "discipline" that I'm gonna try something new. I KNOW what I should do, but no matter how many times I promise myself that THIS time I'll REALLY do it... well, I just mess up once again. So this time, instead of privately talking to myself about this, I'm going public. Maybe this will SHAME me into doing the right thing.
Thank you for your post, your honesty and generosity.
trading is simple but is simple is not easy.
- #1,130,274
- Aug 26, 2017 2:27am Aug 26, 2017 2:27am
Free speech is not ''free'' , there are always consequences.
- #1,130,275
- Aug 26, 2017 2:40am Aug 26, 2017 2:40am
Free speech is not ''free'' , there are always consequences.
- #1,130,276
- Aug 26, 2017 3:02am Aug 26, 2017 3:02am
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,055 Posts
Alright, I've had such a problem with "discipline" that I'm gonna try something new. I KNOW what I should do, but no matter how many times I promise myself that THIS time I'll REALLY do it... well, I just mess up once again. So this time, instead of privately talking to myself about this, I'm going public. Maybe this will SHAME me into doing the right thing.
- #1,130,277
- Aug 26, 2017 5:46am Aug 26, 2017 5:46am
- | Joined Dec 2011 | Status: Mrs. | 1,178 Posts
I'll shop after the drop
- #1,130,278
- Aug 26, 2017 5:49am Aug 26, 2017 5:49am
- Joined May 2014 | Status: From1toMillion | 9,471 Posts
Look at the monthly chart...we are in a range for a year now...it can easily go up from here(1.04xx) and target 1.17-1.20 instead of parity.
I hope all retail will be shorting this into parity...then even 1.25 has a better chance than 1.0.
USDx is topping...EU is bottoming on weekly...this can turn into a bull(EU) and bear(USDx) which will go on for months...maybe even all 2017.
Everyone can see the chart, but only a few can actually read it.
- #1,130,280
- Aug 26, 2017 7:42am Aug 26, 2017 7:42am
- | Commercial User | Joined Sep 2009 | 1,757 Posts
{quote} {quote} {quote} Funny times after christmas when I was arguining with all the "parity guys" and had to stop posting, because they were too annoying.
Make money by doing the opposite of Giveachance aka loser