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  • #31,801
  • Aug 2, 2018 3:25pm Aug 2, 2018 3:25pm
Hi everyone,

i'm quite new at trading Forex so I don't understand everything... Can someone explain me why there is such a drop off?
And what could have been anticipated?
I took a long position at 1.16341 as I thought it would have been a support and the Ichimoku & MACD were indicating an up in EUR/USD and settled my stop loss at 1.15842.
What did I miss?
  • #31,802
  • Aug 2, 2018 3:29pm Aug 2, 2018 3:29pm
Quoting MXT
{quote} is that real ? you take 350 + scalps a day ? and you took 640 trades in one day ?
I wish it was a day,
It's the total average of all trades.
Attached Image
Self discipline It is a practice
  • #31,803
  • Aug 2, 2018 3:31pm Aug 2, 2018 3:31pm
Ata-Turkoglu-

I've been trading for about a month now. I have had my share of victories and failures. But that has been my biggest obstacle. I will stick with something when I know I shouldn’t. Happy to say that it is a habit I am breaking. I am now in the positive numbers overall. It’s been a stressful month of learning but I believe I am on the road to success.
  • #31,804
  • Aug 2, 2018 3:35pm Aug 2, 2018 3:35pm
Quoting Jakeperalta
Hi everyone, i'm quite new at trading Forex so I don't understand everything... Can someone explain me why there is such a drop off? And what could have been anticipated? I took a long position at 1.16341 as I thought it would have been a support and the Ichimoku & MACD were indicating an up in EUR/USD and settled my stop loss at 1.15842. What did I miss?
Really?
  • #31,805
  • Aug 2, 2018 3:37pm Aug 2, 2018 3:37pm
Quoting mjbecker
Ata-Turkoglu- I've been trading for about a month now. I have had my share of victories and failures. But that has been my biggest obstacle. I will stick with something when I know I shouldn’t. Happy to say that it is a habit I am breaking. I am now in the positive numbers overall. It’s been a stressful month of learning but I believe I am on the road to success.
The sad thing is that the road to success starts after 10 years of experience. You'll see. It was my case and the case of many successful traders.
When you're not sure Short or Long - toss a coin! Chances are 50% !!!
  • #31,806
  • Aug 2, 2018 3:39pm Aug 2, 2018 3:39pm
Quoting Montrealer
{quote} The sad thing is that the road to success starts after 10 years of experience. You'll see. It was my case and the case of many successful traders.
10 years? I cant wait that long. I got a mortgage and college to pay for. Need to be rich by next month.
  • #31,807
  • Aug 2, 2018 3:40pm Aug 2, 2018 3:40pm
i think down move is over now, need another confirmation to retrace

Attached Image


but i see no sign yet
  • #31,808
  • Aug 2, 2018 3:41pm Aug 2, 2018 3:41pm
Quoting mjbecker
{quote} 10 years? I cant wait that long. I got a mortgage and college to pay for. Need to be rich by next month.
You are in the wrong business then...
Gl to you
  • #31,809
  • Aug 2, 2018 3:41pm Aug 2, 2018 3:41pm
Quoting Jakeperalta
Hi everyone, i'm quite new at trading Forex so I don't understand everything... Can someone explain me why there is such a drop off? And what could have been anticipated? I took a long position at 1.16341 as I thought it would have been a support and the Ichimoku & MACD were indicating an up in EUR/USD and settled my stop loss at 1.15842. What did I miss?
It due to a bearish environment
Bear weekly = 11 weeks
Daily 85 days
H4 x 31 = 124 hours
H1 x 51 hours
Self discipline It is a practice
  • #31,810
  • Aug 2, 2018 3:43pm Aug 2, 2018 3:43pm
Quoting Jakeperalta
Hi everyone, i'm quite new at trading Forex so I don't understand everything... Can someone explain me why there is such a drop off? And what could have been anticipated? I took a long position at 1.16341 as I thought it would have been a support and the Ichimoku & MACD were indicating an up in EUR/USD and settled my stop loss at 1.15842. What did I miss?
Without getting the habit of mentioning the timeframe nobody here can actually help you. Timeframe is a must in every post.

Stay Green
Focus only on what truly matters!
  • #31,811
  • Aug 2, 2018 3:44pm Aug 2, 2018 3:44pm
Quoting Ata-Turkoglu
{quote} I remember some member on some other FF thread whose name started with FXTyr***.. and his goal was to have only green trades in his order history. He was facing huge drawdowns because he neither wanted to close losing trades manually nor made use of SL. So he would trust his instincts and open more and more trades against the trend the more market went against him with the belief that he was eventually right. He would insist it would return at some point. Showing off with his smartass attitude. And the funny part was that he actually succeeded...
you are 100% right i believe it is not about been right or wrong, but it is about making money, i lose 60% of my trades but i still make money.
  • #31,812
  • Aug 2, 2018 3:46pm Aug 2, 2018 3:46pm
Quoting okshop
{quote} I wish it was a day, It's the total average of all trades. {image}
you got me worried there

640 trades a day manually would be the scalper' s guinness record
  • #31,813
  • Aug 2, 2018 3:47pm Aug 2, 2018 3:47pm
Quoting mjbecker
{quote} 10 years? I cant wait that long. I got a mortgage and college to pay for. Need to be rich by next month.
For a faster timeframe u need to eat / sleep / fall sick in front of the charts. And lurk 24 hrs in FF that’s what I did even with that u have to get the (Aha moment to get a break) building your own system and perfecting it with money management. Once you are there if you get there, the only killer is the money management. (GL)
Self discipline It is a practice
  • #31,814
  • Aug 2, 2018 3:50pm Aug 2, 2018 3:50pm
Quoting me.mariner
i think down move is over now, need another confirmation to retrace {image} but i see no sign yet

I am not quite sure is over... It might retrace to keep going down which I think its going to happen or it will continue in waterfall or in deed this is the turning point.

By now we are loosing momentum, and for sure it will stop at 1.1585 .. lets see what happens next

I belive by today or tomorrow we can arrive at level 1.1550-1.1530.... and at this point beware of H&S pattern.
  • #31,815
  • Aug 2, 2018 3:51pm Aug 2, 2018 3:51pm
Quoting mjbecker
{quote} 10 years? I cant wait that long. I got a mortgage and college to pay for. Need to be rich by next month.
You reminded me a funny joke. A senior and junior bulls are on the hill observing the herd of cows. Junior says, "lets just quickly run and f..ck that little cute cow on the side!". Senior bull answers, "No. We will rather SLOWLY walk downhill and f..ck the whole bunch of them".
When you're not sure Short or Long - toss a coin! Chances are 50% !!!
  • #31,816
  • Aug 2, 2018 3:53pm Aug 2, 2018 3:53pm
it's a better to get 50 pip in Friday
if the price don't hit the 1.1575 cancel the limit
Attached Image (click to enlarge)
Click to Enlarge Name: erff.png Size: 38 KB
  • #31,817
  • Aug 2, 2018 3:53pm Aug 2, 2018 3:53pm
YES , I am in a mess , 70 pips down , but i came back from this before .
I did back testing , and I did not find a breakout of S2 or R2 a weekly Pivot .
Add to this the fact that we are on significant areas, and I believe that tomorrow we will see a large counter-movement
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd h1.png Size: 28 KB
Click to Enlarge Name: DX H1.png Size: 24 KB
Click to Enlarge Name: eur usd DAILY.png Size: 38 KB
yes yes yes
  • #31,818
  • Aug 2, 2018 3:58pm Aug 2, 2018 3:58pm
Quoting mjbecker
{quote} 10 years? I cant wait that long. I got a mortgage and college to pay for. Need to be rich by next month.
Lol I got it was a joke
  • #31,819
  • Aug 2, 2018 4:02pm Aug 2, 2018 4:02pm
Quoting Rebearv.
{quote} I am not quite sure is over... It might retrace to keep going down which I think its going to happen or it will continue in waterfall or in deed this is the turning point. By now we are loosing momentum, and for sure it will stop at 1.1585 .. lets see what happens next I belive by today or tomorrow we can arrive at level 1.1550-1.1530.... and at this point beware of H&S pattern.
yes you are right, without any confirmation,the bear still intact
  • #31,820
  • Aug 2, 2018 4:04pm Aug 2, 2018 4:04pm
Quoting Moty
YES , I am in a mess , 70 pips down , but i came back from this before . I did back testing , and I did not find a breakout of S2 or R2 a weekly Pivot . Add to this the fact that we are on significant areas, and I believe that tomorrow we will see a large counter-movement {image} {image} {image}
Hope it works out mo.
Gl
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