Small long entered to test the waters.
Attached Image (click to enlarge)
- #12,242
- Feb 8, 2018 3:30am Feb 8, 2018 3:30am
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,053 Posts
- #12,243
- Feb 8, 2018 3:35am Feb 8, 2018 3:35am
This post may hopefully be of use to 'newer' trader just starting their journey.
Its not about being right - Its about managing risk and building profits gradually without having wild peak to trough equity swings.
If you aim to 'trade for a living' and are under capitalised you need a track record to attract funding..
WHEN YOU ARE FUNDED YOU ARE ACCOUNTABLE - and anyone funding you holds you to account ..they don't give a monkeys whether you nail the best entry or exit - they really just want steady performance and no wild equity swings.
Deliver your investors over 12% a year..keeping drawdown under 6% (ideally under 4%) and they will stick with you..and recommend you to their colleagues. If they want more..they can increase their risk on your account - let them make that decision.
Lets look at EU - I've closed out - if it drops now to target I wont make any more on it..Oh dear - who gives a f**k.
Its not about being right - Its about managing risk and building profits gradually without having wild peak to trough equity swings.
If you aim to 'trade for a living' and are under capitalised you need a track record to attract funding..
WHEN YOU ARE FUNDED YOU ARE ACCOUNTABLE - and anyone funding you holds you to account ..they don't give a monkeys whether you nail the best entry or exit - they really just want steady performance and no wild equity swings.
Deliver your investors over 12% a year..keeping drawdown under 6% (ideally under 4%) and they will stick with you..and recommend you to their colleagues. If they want more..they can increase their risk on your account - let them make that decision.
Lets look at EU - I've closed out - if it drops now to target I wont make any more on it..Oh dear - who gives a f**k.
- Investors see profits booked
- Risk has been managed through this swing against me
- If EU now goes up I can hit it all over again
- If I can't get back in at a price where I want to get involved - I simply take on trades elsewhere. When I'm in a trade I also scan other pairs for other ventures and at any one time will have a 'pipeline' of trade ventures ready to take on - but only if I keep trading capital exposure below a certain level
...Next 
- #12,245
- Feb 8, 2018 3:38am Feb 8, 2018 3:38am
{quote} Well done man Your not getting long are you ?
- #12,246
- Feb 8, 2018 3:41am Feb 8, 2018 3:41am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
To me its just accumulation process, same process when it went from 1,19xx to 1,17xx before FED/ECB in december
Funny thing i keep reading how billion hedge funds are short dollar...poor guys so far
Funny thing i keep reading how billion hedge funds are short dollar...poor guys so far
COT: The precious data ignored
- #12,248
- Feb 8, 2018 3:42am Feb 8, 2018 3:42am
- Joined Mar 2017 | Status: Impeccable | 2,829 Posts
Some possible scenarios for the bears. (Don’t forget SL) Some GU news later should give a little momentum. *Trade Safe. 
Self discipline It is a practice
- #12,249
- Edited 4:08am Feb 8, 2018 3:45am | Edited 4:08am
- | Membership Revoked | Joined May 2015 | 2,903 Posts
- #12,257
- Feb 8, 2018 4:36am Feb 8, 2018 4:36am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
