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The Swamp

  • #40,041
  • Aug 26, 2019 10:39am Aug 26, 2019 10:39am
Quoting Boulder
scalp a short again here 1119... maybe wrong timing .. .. {image}
out this one at 1108, +10... total EurUsd short today +60... not bad to start the week..
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  • #40,042
  • Aug 26, 2019 10:45am Aug 26, 2019 10:45am
Quoting Boulder
{quote} out this one at 1108, +10... total EurUsd short today +60... not bad to start the week.. {image}
so you targeting 10 pips each time
probably like we both did on friday you are opening more position


so that means you are opening standard position each time - you don't really have a SL so you probably have at the begining small position that can
not big value but many translations adds up .

that means you don't have a big drawdown you just try to earn as many you can in a day right ?
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #40,043
  • Aug 26, 2019 10:47am Aug 26, 2019 10:47am
Quoting htcone
price would not go below the London Friday close...6 hourly attempts already..
eu did close below. (1139) lc on Friday.
Gu closed lower also.
those who can, do. those who cant, talk about those who can
  • #40,044
  • Aug 26, 2019 10:59am Aug 26, 2019 10:59am
Quoting DMA Trader
{quote} so you targeting 10 pips each time probably like we both did on friday you are opening more position so that means you are opening standard position each time - you don't really have a SL so you probably have at the begining small position that can not big value but many translations adds up . that means you don't have a big drawdown you just try to earn as many you can in a day right ?
I post this article before since it says better than I can explain.. so you get an idea ...

99% of Traders Can Do Better If They Just Do This
by Boris Schlossberg
Everyone wants to be a big swinging d-ck.
Hollywood is full of stories of an underdog who takes on an insane risk and wins against all odds to becomes a hero for life.
All or nothing.
All in.
Let it ride.
Go big or go home.
We are all so familiar with these story arcs that we can probably recite them in our sleep. The emphasis in all these stories is always on winning it all. Indeed the central myth of America is winning. Just ask Donald Trump who has managed to make a career out of exploiting that myth for all its worth.
In real life however, and especially in trading, success goes to those who seek to win, but to those who learn how not lose. Like Warren Buffett. The difference in approach is exemplified by what I call the two models of trading -- the insurance model and the lottery model.
99% of us, whether we admit it or not, chase the lottery model. Have a hunch bet a bunch. Double your account in a week! Take $10,000 to $1 Million in…. You can fill in the blanks as easily as I can but you know deep down in your soul that its bullshit. The lottery is the ultimate suckers game, yet we all fall for it. Because we are all greedy.
I on the other hand try to spend all of my time being fearful. I love my trading models. They have served me very well, but that doesn’t mean that I follow them blindly. I never, ever, trust the market. Through the school of hard knocks, I learned that markets can always do the unexpected and they can always push prices beyond all reason and sanity. So I spend all my day passing up, rather than taking trades.
On any given day I must pass up at least 5 to 10 perfectly good opportunities to make money. Why? Maybe the price action looks a little too violent. Maybe there is news just a few hours ahead. Maybe I already have a very similar trade on the books and I don’t need to double my risk. Maybe the market just missed my entry price which happens so frequently that if I could bottle that frustration I would make my own line of cologne.
I’ve mentioned many times before that you can either predetermine your entries or your exits, but you can’t do both. I focus on entries because I can’t predermine exits. I exit early almost every time because of fear. Is that stupid? Maybe. It’s certainly easier to make 10 pips from one trade than to wring 10 pips from 5 trades that you closed out too soon. But you need to focus on the goal.
What’s the goal?
The goal is to make 10 pips moron!
Neither the market, nor your mother nor your family cares how you made your 10 pips. They just care that it was done.
In the very turbulent markets of this past week I’ve been running two accounts side by side. In my master account I’ve been trading like the meekest of accountants, blowing out of trades at any sign of trouble. In my beta account I just let it ride. My beta account had some really nice swings -- up as much as 2% on some days. Like the guy who hit 5 blackjack hands in row, I was living large!
But by the end of the week, guess which account was ahead? That’s right in real life the meek little accountant beats the big swinging d-ck every time. Because in real life lottery is for suckers and real money is made by the insurance companies who spend their every waking moment making sure they don’t lose.
  • #40,045
  • Aug 26, 2019 11:03am Aug 26, 2019 11:03am
Quoting Boulder
{quote} I post this article before since it says better than I can explain.. so you get an idea ... 99% of Traders Can Do Better If They Just Do This by Boris Schlossberg Everyone wants to be a big swinging d-ck. Hollywood is full of stories of an underdog who takes on an insane risk and wins against all odds to becomes a hero for life. All or nothing. All in. Let it ride. Go big or go home. We are all so familiar with these story arcs that we can probably recite them in our sleep. The emphasis in...

and how much you risk on a trade. standard - i know there are good exception when you can break rulls
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #40,046
  • Aug 26, 2019 11:06am Aug 26, 2019 11:06am
After listening to the whole Trump's speech I can say that:

Trump definitely has the superpower to bend reality by talking... his speeches are out of this world!

The man is an amazing mix of "basic common sense truths" mixed with "pathological lies about the details." It's clear why most people either "love him" or "hate him"
Price = the amount a greater fool is willing to pay!
  • #40,047
  • Aug 26, 2019 11:33am Aug 26, 2019 11:33am
poetic

Inserted Video
those who can, do. those who cant, talk about those who can
  • #40,048
  • Aug 26, 2019 11:44am Aug 26, 2019 11:44am
Quoting DMA Trader
{quote} and how much you risk on a trade. standard - i know there are good exception when you can break rulls
my accounts vary..from conservation to aggressive using position size management.... normally 1% risk for 1% to 1.5% return avg.. so for 5% DD , expect 10% return a month,, while 20+% DD, avg 20% to 35% return a month...etc
  • #40,049
  • Aug 26, 2019 12:08pm Aug 26, 2019 12:08pm
Quoting Boulder
already 53 adr at the moment...next to print 1109 or 1166 RU R2 ----------1.1195 FP R2 ----------1.1178 WP R2 ----------1.1178 MP PP ----------1.1169 RU R1 ----------1.1166 FP R1 ----------1.1154 WP R1 ----------1.1154 FP PP ----------1.1116 WP PP ----------1.1116 RU S1 ----------1.1109 RU S2 ----------1.1080
next 1080 ....
sell strength in falling markets, and buy weakness in rising markets.
  • #40,050
  • Aug 26, 2019 12:11pm Aug 26, 2019 12:11pm
close out 1098 from 1108..+10
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  • #40,051
  • Aug 26, 2019 12:14pm Aug 26, 2019 12:14pm
Quoting htcone
{quote} next 1080 ....
probably not go 1080 today..since adr almost reached at 1096..
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  • #40,052
  • Aug 26, 2019 12:20pm Aug 26, 2019 12:20pm
Could be an opportunity to scalp some long. I will not. Last one for me was a loser. Trend is down
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  • #40,053
  • Aug 26, 2019 12:21pm Aug 26, 2019 12:21pm
Quoting jaylovin
Could be an opportunity to scalp some long. I will not. Last one for me was a loser. Trend is down {image}
I already started building longs towards 1.13.
Everyone can see the chart, but only a few can actually read it.
  • #40,054
  • Aug 26, 2019 12:28pm Aug 26, 2019 12:28pm
Close UJ @ 106.15

+142 pips
  • #40,055
  • Aug 26, 2019 12:35pm Aug 26, 2019 12:35pm
Quoting OnlineAddict
{quote} I already started building longs towards 1.13.
It could happen. Weekly chart can go up to 1.1530 before resuming... i could be eating my own words but i doubt it will go that far.

Trend is still down and hitting 1.16 will invalidate my 1.0850 target.
  • #40,056
  • Aug 26, 2019 12:59pm Aug 26, 2019 12:59pm
Quoting gatorinla
{quote} target 1.0846.x levels that may develop. A close below 1136 should help a drop. But it may return to 1148 again, once it makes it to -1047 {image}
developing.. The next 4h will close the day. day close below <1136> is bearish. a day close below 1198 is below one 4h support. in sequence the next 4h is below <1062> floating.
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those who can, do. those who cant, talk about those who can
  • #40,057
  • Aug 26, 2019 1:16pm Aug 26, 2019 1:16pm
Need to plan for greedy London tomorrow. If this will go down from here then London will find a way to hit at least 1140 again. If it's to go up from here to 1.12 then London will still try to take out today's lows before climbing. In any case just watching them. Shorted low and was a bit worried but it came out good.
  • #40,058
  • Aug 26, 2019 2:02pm Aug 26, 2019 2:02pm
Quoting gatorinla
{quote} It was rejected on the day close Friday. 2107 is last 4h support.. This current 4h is 2110. Closing below it may be enough to get today's close below 2262. If this happens, the 1h, 4h, day, week, and month leans bearish. atm 5m 15m 30m 60m are bearish the odd ball is the 4h.. the time frames above 4h are bearish too. In 2 a close below -2210 changes 4h to bearish to test another 4h level floating at 2101
I dont know what I was trying to say here.

I will try to fix.. I see i posted 1107. It should be 2107. all the gu start with a "2" in the sequence, not a "1".
the 4 h now is 2115, it was just tested.
those who can, do. those who cant, talk about those who can
  • #40,059
  • Aug 26, 2019 3:10pm Aug 26, 2019 3:10pm
Quoting Mitiblotch
Need to plan for greedy London tomorrow. If this will go down from here then London will find a way to hit at least 1140 again. If it's to go up from here to 1.12 then London will still try to take out today's lows before climbing. In any case just watching them. Shorted low and was a bit worried but it came out good.
Seems like NY close below 1.1100..asia will sell and europe will follow sell...test of ,1.1050-1.1060 again ..will look to buy there.
  • #40,060
  • Aug 26, 2019 3:15pm Aug 26, 2019 3:15pm
close the remaining shorts on eur since friday ...

will short if we se some rally
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
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