I call upon my father's spirit , watching over me
- #1,622
- Apr 2, 2020 7:07am Apr 2, 2020 7:07am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,623
- Apr 2, 2020 7:15am Apr 2, 2020 7:15am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,625
- Apr 2, 2020 7:16am Apr 2, 2020 7:16am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,626
- Apr 2, 2020 7:18am Apr 2, 2020 7:18am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,627
- Apr 2, 2020 7:21am Apr 2, 2020 7:21am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,629
- Apr 2, 2020 7:28am Apr 2, 2020 7:28am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
{quote} Illegal only zoos or scientists- maybe I qualify as a scientist of Fibonacci
I call upon my father's spirit , watching over me
- #1,631
- Apr 2, 2020 7:45am Apr 2, 2020 7:45am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
{quote} well done today as well. But I guess you do have an ultimate stop-loss for those days when it keeps going up and up or down and down with no retrace. Or do you take your position overnight and hope for the best? This is what burned me psychologically.
On last 6 months there were few exceptions : a couple of days early October and last day January + a couple days late Feb /early March. Overnight is another story.
Yd friend's Pipfarm chart on Cable/Interactive FF thread worth than 1000 words, here below!
I call upon my father's spirit , watching over me
I have to think about that. So, never get long at the top, and never get short at the bottom. I still have so much to learn.
My fear, and what is causing issues in my trading is that I'm afraid to get caught in a situation like the first rise, for a few days (say attached image).
Say you short at point 1 (orange). I get it, don't short a breakout from consolidation, but imagine.
You'll have to add quite a bit of times (orange arrows) and unload after at the green arrows, just to raise your break even point with all risk and no reward.
Also... that is euro-pound chart. It moves very differently than the DAX
I guess the DAX is more mean reverting (food for investigation).
So, are my fears reasonable or shall I overcome them?
My fear, and what is causing issues in my trading is that I'm afraid to get caught in a situation like the first rise, for a few days (say attached image).
Say you short at point 1 (orange). I get it, don't short a breakout from consolidation, but imagine.
You'll have to add quite a bit of times (orange arrows) and unload after at the green arrows, just to raise your break even point with all risk and no reward.
Also... that is euro-pound chart. It moves very differently than the DAX
I guess the DAX is more mean reverting (food for investigation).So, are my fears reasonable or shall I overcome them?
- #1,633
- Edited 8:53am Apr 2, 2020 8:41am | Edited 8:53am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I have to think about that. So, never get long at the top, and never get short at the bottom. I still have so much to learn. My fear, and what is causing issues in my trading is that I'm afraid to get caught in a situation like the first rise, for a few days (say attached image). Say you short at point 1 (orange). I get it, don't short a breakout from consolidation, but imagine. You'll have to add quite a bit of times (orange arrows) and unload after at the green arrows, just to raise your break even point with all risk and no reward. Also... that...
2. I don't recommend my trading style to anyone:too stressful, it needs more capital, and when you loose you risk to loose a lot. For this reason you have to save always some money, every day. And you have to be fast and smart, so I'm not sure for the foreseeable future when I get older ...
3. Major waves and minor waves are there for every pairs, for every commodity, for DAX or for DJ. Every day.
I focus only on 1 financial tool, 100% focus on it, as it moves, as it sleeps, as it wakes up, everything.....no distractions or other index to trade. And this helps me to try to understand if I'm in a trend, in a counter.trend , in a minor or major wave.
4. When i'm wrong I have to be humble, often I add but suddenly I have to reduce faster than ever. No audio, no video, nothing, only focus on my trades.
But this is not a guarantee for success. and this is not the best way to trade. I'm aware, but i can do only this way so far.....and until I get a new bloodbath...I'll keep on this way!
5. In short Caiuss, find your way, find a trading way that suits to you and stick 100%. I can't teach to anyone here! But I'm eager to learn, from Pipfarm or Dutchy or PipMiner or some other here . I'm only a survivor here in an Ocean full of sharks. and I have to run a whole large family in quarantine these and next days!!!
Good luck for you and for me!!
I call upon my father's spirit , watching over me
- #1,636
- Apr 2, 2020 9:02am Apr 2, 2020 9:02am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
now in the last 45 minutes in M1-chart it formed a beautiful structure just like out of the text book.
This is the best mathematician ever and he worked without calculators, software, electric power or internet....
and this is where we are going......
I call upon my father's spirit , watching over me
- #1,637
- Apr 3, 2020 12:17am Apr 3, 2020 12:17am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,638
- Apr 3, 2020 12:24am Apr 3, 2020 12:24am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,639
- Apr 3, 2020 12:27am Apr 3, 2020 12:27am
- Joined Aug 2014 | Status: Trader | 85,308 Posts
I call upon my father's spirit , watching over me
- #1,640
- Apr 3, 2020 12:32am Apr 3, 2020 12:32am
Last 2 days DAX CASH INDEX had same range 9650/9350, more or less (after hours Europe included) 9500 zone is the middle, current prices.... Look at that zone as a sort of natural pivot. It's friday and a long boring weekend full of COVID19 news will be our company for hours and hours...... No will to risk anything for now, we'll see later .