Disliked{quote} Nothing taken personally at all - thanks for your post. I have explained my reasons for using a fixed dollar risk (via Nial's article) and I am well aware of the arguments for a percent risk - no need to hash it out (I have read that article before). Traders are free to manage their risk how they choose I am simply sharing what I do and how I am finding success and profit in the market.Ignored
Spoof's Trading Made Simple(r) Journal
- #202
- Jul 31, 2019 11:59am Jul 31, 2019 11:59am
{quote} Thank you Spoof for response i appreciate, did not wanted to sound harsh, apologies if i did. I understand your approach completely and it is good way to trade, results are speaking for itself. I am trying to leverage upon your style of trading to maximize profits, cheers!
I don't mean to come across that way either in my commentary.
Emotion - it steals your money.
- #204
- Jul 31, 2019 12:08pm Jul 31, 2019 12:08pm
{quote} Ahh but Dad, Is too much reading for me and I is so busy on my instagram and twitter. Cant you just give us the highlights?
Traders too lazy to invest in themselves will never be profitable traders.
Emotion - it steals your money.
- #206
- Jul 31, 2019 2:15pm Jul 31, 2019 2:15pm
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.
{quote} Thank you again...I know it is on me...I am still trying
Emotion - it steals your money.
Good morning all - candle change here in NZ. Signals tell me to long GA and sell EU. Entries made & charts will follow shortly.
Just showing end results of yesterdays trades & that a dumb mistake made when setting a profit target. Should (DO) know better
The AJ was running nicely & I moved the Stop to make risk-free with small profit. Sure enough - market wanted to show me up and came back almost to the pip & stole my hard earned 2R. Then proceeded to go to my original target. How often we see this happen.
The UJ was just floating along going nowhere. Then decided to attack highs ( I guess on good news US ). Have realised now that I have got to double check targets over & over because I had set my Take Profit at the BRN 109.00. Spikes missed me by 1 pip and while I was not around to watch it unfold, it is annoying that a basic cock-up that cost me a 2R trade. Closed it out at less than 1R but profit achieved. Another lesson learned. Switching from scalping to H4 charts does eliminate hours of screen watching BUT I have to check & double check targets if I am gunna only screen watch every 4 hours or so.
Just showing end results of yesterdays trades & that a dumb mistake made when setting a profit target. Should (DO) know better
The AJ was running nicely & I moved the Stop to make risk-free with small profit. Sure enough - market wanted to show me up and came back almost to the pip & stole my hard earned 2R. Then proceeded to go to my original target. How often we see this happen.
The UJ was just floating along going nowhere. Then decided to attack highs ( I guess on good news US ). Have realised now that I have got to double check targets over & over because I had set my Take Profit at the BRN 109.00. Spikes missed me by 1 pip and while I was not around to watch it unfold, it is annoying that a basic cock-up that cost me a 2R trade. Closed it out at less than 1R but profit achieved. Another lesson learned. Switching from scalping to H4 charts does eliminate hours of screen watching BUT I have to check & double check targets if I am gunna only screen watch every 4 hours or so.
- #217
- Edited 4:51pm Jul 31, 2019 4:40pm | Edited 4:51pm
{quote} Hi Pet & Alan - hope this one goes down fast for you. I looked at it also but decided to pass because of Support level just below. Safe trades guys.
Emotion - it steals your money.
Good morning all - candle change here in NZ. Signals tell me to long GA and sell EU. Entries made & charts will follow shortly. Just showing end results of yesterdays trades & that a dumb mistake made when setting a profit target. Should (DO) know better
Emotion - it steals your money.
So. I am now flat in the market. My EURUSD trade stopped out for a 0.5R loss just as that huge move down happened. This is a great example of how shedding risk as the trade goes in your favour can help limit losses when these big moves happen. Remember, these trades when successful tend to go quickly in our favour. Price meandered around for six candles before deciding to go against me. I am not taking the short set up since that candle is way too big. My oil trade stopped out at the trailing stop based on the PSAR. We got to about 1.5R before price...
