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  • #113,821
  • Aug 28, 2020 2:22am Aug 28, 2020 2:22am
Quoting bizzbastian
hello selfrit, perhaps that's not the right thread for this, but I really recommend the psychology book 'trading in the zone'. It's all explained there. I can not summarize in some sentences. {quote}
Hi Bizzbastian,

yes it's not the right thread but i want to know it from full time pro trader like Ata.
i have read the book.
It's a great book and helping me a lot but still this impulse trade keep happening and i'm desperate right now.
  • #113,822
  • Aug 28, 2020 3:34am Aug 28, 2020 3:34am
Quoting selfrit
Good day to you all Hi Ata i would like to ask some questions to you. it would be helpful to me since i'm having psychology problem like impulse trading, overtrading and revenge trading. Do you ever have psychology problem when trading forex full time ? if yes, what is it and how do you tackle or overcome it ? do you have any advices what should i do to make sure i trade my plan and never go impluse trading, overtrading and revenge trading? thanks in advanced
Whatever I would say to you would be a repetition of the same thing that many pro traders said in the past. It is not new:

  1. Whatever system you use, you MUST focus on buying as low as you can in an uptrend and selling as high as you can in a downtrend. My system that I explained again and again tries to do exactly that.
  2. No system is 100% perfect therefore you must set your targets, set your stop loss levels properly before you enter and embrace the outcome whether it is a win or loss.
  3. And when you are in doubt you shouldn't execute a trade!
  4. If you follow all the elementary rules mentioned above you shouldn't have emotions. There is definitely an issue with one of the items above if you are still emotional.
  5. Finally: If you want to catch most of the opportunities that your system provides you have to sacrifice some sleep hours OR you must use an expert advisor that can trade for you during your sleep hours. Sleep hours can be the only caveat that even I still have to deal with. (Especially while expert advisors don't work that flawless on stupid MT4 and MT5 app, but it is okay for me. I manage.)

I hope it helps..

Stay Green

Focus only on what truly matters!
  • #113,823
  • Aug 28, 2020 3:39am Aug 28, 2020 3:39am
Quoting Ata-Turkoglu
{quote} Whatever I would say to you would be a repetition of the same thing that many pro traders said in the past. It is not new: Whatever system you use, you MUST focus on buying as low as you can in an uptrend and selling as high as you can in a downtrend. My system that I explained again and again tries to do exactly that. No system is 100% perfect therefore you must set your targets, set your stop loss levels properly before you enter and embrace the outcome whether it is a win or loss. And when you are in doubt you shouldn't execute a trade!...
  • #113,824
  • Edited 4:00am Aug 28, 2020 3:49am | Edited 4:00am
Bulls arrived at mentioned crucial levels.. Let's see reaction.. I took profit and now waiting on sidelines!

*If current pattern on H4 turns out to be a bearish cypher this could go down quick!

Stay Green
Focus only on what truly matters!
  • #113,825
  • Aug 28, 2020 4:28am Aug 28, 2020 4:28am
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  • #113,826
  • Aug 28, 2020 4:33am Aug 28, 2020 4:33am
for the learning purposes: if buy and sell lots are same size,margin levels cant be seen,check the figure below.equity is also very low.

in this situation what could happen? will margin call happen? or account will blow,plz give your suggestions,thanks!

how can we save this account?
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  • #113,827
  • Aug 28, 2020 5:22am Aug 28, 2020 5:22am
Quoting newbi3
for the learning purposes: if buy and sell lots are same size,margin levels cant be seen,check the figure below.equity is also very low. in this situation what could happen? will margin call happen? or account will blow,plz give your suggestions,thanks! how can we save this account? {image}

accept your loss, learn from it and move on.

btw

Thanks Ata for make it simple, direct and spot on about trading psychology.
  • #113,828
  • Aug 28, 2020 6:45am Aug 28, 2020 6:45am
Time to re-short eurusd.
August in the spotlight 2
Risk Management is of utmost importance!
  • #113,829
  • Aug 28, 2020 7:38am Aug 28, 2020 7:38am
time to sell ... due to trading range ... up trend now is too weak/is over
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The Average Discount Everything
  • #113,830
  • Aug 28, 2020 8:01am Aug 28, 2020 8:01am
Quoting hesron
time to sell ... due to trading range ... up trend now is too weak/is over {image}
I hope. Entered 1.1910.

1.1867 is the key support. Bears need to break it.

Let's see
  • #113,831
  • Edited 9:22am Aug 28, 2020 9:09am | Edited 9:22am
Quoting Traderview
{quote} I hope. Entered 1.1910. 1.1867 is the key support. Bears need to break it. Let's see
Trading with the Wyckoff Principle is simple, but understanding the principles of how the market works in relation to the 3 Law of Wyckoff is not easy.

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The Average Discount Everything
  • #113,832
  • Edited 11:00am Aug 28, 2020 10:28am | Edited 11:00am
Quoting selfrit
do you have any advices what should i do to make sure i trade my plan and never go impluse trading, overtrading and revenge trading? thanks in advanced
Join this thread:
https://www.forexfactory.com/thread/...-trading-forex

Quoting newbi3
how can we save this account?
More deposit. And then join this thread:
https://www.forexfactory.com/thread/...-trading-forex
  • #113,833
  • Aug 28, 2020 11:10am Aug 28, 2020 11:10am
Quoting peyman
{quote} What was step response?
https://en.wikipedia.org/wiki/Step_response
  • #113,834
  • Aug 28, 2020 3:40pm Aug 28, 2020 3:40pm
Weekly Status Update

Week is over and end of month is next.. I prepared next week's levels upfront, you can thank me later, lol...

  1. Next week we first might see an attack towards 1.1955 levels and if that area breaks there is one more resistance level sitting roughly around 1.2003.. Depending on bull momentum price might pierce much higher and therefore bears must be very careful in not shorting this too early once price goes above 1.1955!
  2. On the other hand, if next week starts with some bearish momentum we have to see if nearest support area that is sitting roughly around 1.1847 will do its job or not.
  3. Overall I prefer to trade with a carefully-bearish bias as long as we are below 1.1955 but once/if intraday candles clearly close above it we must know that bulls have full control!

Those are my humble thoughts in advance. Hopefully we continue next week. Until then enjoy your weekends folks.. Peace! Out!

Stay Green

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Focus only on what truly matters!
  • #113,835
  • Aug 28, 2020 4:28pm Aug 28, 2020 4:28pm
Yesterday I was thinking that my EURUSD re-entry trade was over with the price closing below the 21 EMA like it did on 19 June but instead it went up 80 pips. I wonder when the bulls will stop partying.
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  • #113,836
  • Aug 29, 2020 1:07am Aug 29, 2020 1:07am
Quoting Ata-Turkoglu
Weekly Status Update Week is over and end of month is next.. I prepared next week's levels upfront, you can thank me later, lol... Next week we first might see an attack towards 1.1955 levels and if that area breaks there is one more resistance level sitting roughly around 1.2003.. Depending on bull momentum price might pierce much higher and therefore bears must be very careful in not shorting this too early once price goes above 1.1955! On the other hand, if next week starts with some bearish momentum we have to see if nearest support area that...
Thanks Ata.
  • #113,837
  • Aug 29, 2020 2:26am Aug 29, 2020 2:26am
Head, shoulders, wash & go
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  • #113,838
  • Aug 29, 2020 2:32am Aug 29, 2020 2:32am
Minimum target 1.1850
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  • #113,839
  • Aug 29, 2020 4:20am Aug 29, 2020 4:20am
the deep pink price is where I'm expecting the price should go...
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  • #113,840
  • Aug 29, 2020 4:08pm Aug 29, 2020 4:08pm
Good analysis

https://www.dailyfx.com/forex/fundamental/us_dollar_index/daily_dollar/2020/08/28/EURUSD-Forecast-August-Low-Remains-on-Radar-Following-Fed-Symposium
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