In trading, you have to be defensive and aggressive at the same time
- #36,222
- Apr 5, 2020 6:13am Apr 5, 2020 6:13am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #36,224
- Apr 5, 2020 6:36am Apr 5, 2020 6:36am
When you set yourself such low standard you'll get low mediocre results.What you think manifests. With 100k you should minimum hit 10% a month! That's minimum.You got to grow balls You dont need "huge" accounts!What you need is becoming good trader money will come! {image}
1 simple mistake makes you become 1000x better.
- #36,225
- Apr 5, 2020 7:13am Apr 5, 2020 7:13am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} C4 to B5
In trading, you have to be defensive and aggressive at the same time
- #36,226
- Apr 5, 2020 8:01am Apr 5, 2020 8:01am
- Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts
We obey the structure that results from the market's reaction
The EG chart:
I think price will come down to 0.8775 (re-test last weeks S61) or maybe 0.8750 (new weeks S38).
So I'll wait and see what happens the first few days of the week, and when PA shows me the right candles on the 30 min or 15 min TF then I will BUY
NO trade ATM
The AU chart:
Seems that PA is going down. Last friday it was ranging. Have to wait for confirmation, and when it goes down I think it could be ending up around 0.5900.
So NO trade ATM, have to wait and see what happens. When PA confirms up (30 / 15 min) I will BUY, I'm not going to sell this pair because it's at a very low level.
The AN chart:
First days of the week I think it will go near 1.02. With the right candles in PA (30 / 15 min TF) I will BUY. Maybe goes up to 1.03 or even higher.
Also NO trade ATM.
Now I'm going back in the garden to enjoy the sunny weather here in the Netherlands!
22C / 71.6F
I think price will come down to 0.8775 (re-test last weeks S61) or maybe 0.8750 (new weeks S38).
So I'll wait and see what happens the first few days of the week, and when PA shows me the right candles on the 30 min or 15 min TF then I will BUY
NO trade ATM
The AU chart:
Seems that PA is going down. Last friday it was ranging. Have to wait for confirmation, and when it goes down I think it could be ending up around 0.5900.
So NO trade ATM, have to wait and see what happens. When PA confirms up (30 / 15 min) I will BUY, I'm not going to sell this pair because it's at a very low level.
The AN chart:
First days of the week I think it will go near 1.02. With the right candles in PA (30 / 15 min TF) I will BUY. Maybe goes up to 1.03 or even higher.
Also NO trade ATM.
Now I'm going back in the garden to enjoy the sunny weather here in the Netherlands!
22C / 71.6F
May the Force be with you.
- #36,232
- Apr 5, 2020 9:50am Apr 5, 2020 9:50am
- Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts
Davit, USDJPY for you?
We obey the structure that results from the market's reaction
- #36,233
- Edited 12:18pm Apr 5, 2020 11:53am | Edited 12:18pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Hi guys
Exercise was to me how people see same charts very differently.To me foremost importance is the EDGE hence EJ fit the criteria long with PA confirm rest were No trades. I didn't like the weakness of Euro Friday so not able to go up much at 88 EG crossed that to me as trade.AU no trade .AN as well.
So we eliminated possible losers just like that. I wont short AU at this junction given US economy is tanking to me I'll be looking to sell USD that means Buy EU GU NU less AU and short UC going forward
Overall my bias is USD bear and this is important because it frames overall my trading bias going forward.
Good luck
Exercise was to me how people see same charts very differently.To me foremost importance is the EDGE hence EJ fit the criteria long with PA confirm rest were No trades. I didn't like the weakness of Euro Friday so not able to go up much at 88 EG crossed that to me as trade.AU no trade .AN as well.
So we eliminated possible losers just like that. I wont short AU at this junction given US economy is tanking to me I'll be looking to sell USD that means Buy EU GU NU less AU and short UC going forward
Overall my bias is USD bear and this is important because it frames overall my trading bias going forward.
Good luck
In trading, you have to be defensive and aggressive at the same time
- #36,234
- Apr 5, 2020 12:01pm Apr 5, 2020 12:01pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #36,235
- Apr 5, 2020 12:13pm Apr 5, 2020 12:13pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} BEST THING I DID was picking up my book again by MD. Within the first 2 chapters , I identified "traits" in my trading personality that have "crept" back into my thinking so that I never return to the FOMO mindset. Now , I am even saying that just looking at the chart exercise you posted has made me shift my thinking to neutral bias , I am not taking any trades at all , but , will monitor the PA until THE MARKET TELLS ME WHERE "TRUE" SUPPORT AND RESISTANCE ZONES ARE. Then , I will sell into resistance and buy into support. MD has made me...
Keep that attitude dont ever lose it.
Knowing you used to be a firefighter its truly great what you are trying to accomplish in trading.Dont let trees fallen on the road stop you reaching your destination.
In trading, you have to be defensive and aggressive at the same time
- #36,236
- Apr 5, 2020 12:30pm Apr 5, 2020 12:30pm
- Joined Jan 2014 | Status: Less is more ... | 9,059 Posts
Fix up, trade sharp ...
- #36,237
- Apr 5, 2020 12:33pm Apr 5, 2020 12:33pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Looks like chess.com. Are you on lichess?
User name Rubo64
My rating plummets as glasses of wine increases
then comes back up when sober
In trading, you have to be defensive and aggressive at the same time
{quote} Remarkable.What is great about you despite of your age you have child like capacity to absorb knowledge info.That's a great thing. Keep that attitude dont ever lose it.
I had to retire from the Fire Service early due to a concussion I suffered. Could not complete a sentence for 4 1/2 months. Extremely deep depression followed.
Mental health professionals got me "back on track" after 2 years of intensive therapy. Still , the joy and excitement in my life were gone and along with them many memories which I will never be able to recall , so I have been told. I barely remember any details of my 3 boys childhoods. Life MUST go on.
THUS , EVERY SINGLE ONE OF YOU ON THIS THREAD HAS BROUGHT JOY AND MEANING BACK INTO MY LIFE AND I AM FOREVER GRATEFUL TO ALL OF YOU FOR HELPING ME ENJOY THE THRILL OF HAVING ADRENALINE RUN THROUGH MY VEINS ONCE AGAIN !!!!
I am engaged in learning once again , and I love it. Mark Douglas should be mandatory reading in our school systems in my opinion , especially Canada.
When the markets close on Friday , I am like a kid in a candy shop thrilled with joy and happiness , waiting for the Sunday open.
Life is great again.
You guys are the best ,
Sincerely ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
- #36,239
- Apr 5, 2020 1:19pm Apr 5, 2020 1:19pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Failure has never existed in my vocabulary. NEVER. And it never will. I had to retire from the Fire Service early due to a concussion I suffered. Could not complete a sentence for 4 1/2 months. Extremely deep depression followed. Mental health professionals got me "back on track" after 2 years of intensive therapy. Still , the joy and excitement in my life were gone and along with them many memories which I will never be able to recall , so I have been told. I barely remember any details of my 3 boys childhoods. Life MUST go on. THUS , EVERY...
As long you have the passion doors will open up.Everything in life is about the right attitude.
In trading, you have to be defensive and aggressive at the same time
