{quote} Hi there You have yourself a colleague here. Foolish me I must say. Good entries with good tp and yeti always chicken out.
. So you are not alone mate
Cable Update (GBPUSD)
- #592,482
- May 1, 2021 5:06am May 1, 2021 5:06am
- Joined Jun 2013 | Status: Trader | 14,544 Posts
{quote} but at least one chart you have to leave with pivot otherwise tell me one pair which has no respect to it moty, I would like to say that you are able "to see the pattern", what I think is very important because you can archive it only with experience.., and then as I think, you need simple confirmation ( numbers, indy,..whatever ) and then.., after you entered trade you need to know for sure plane a & b ( what I'll do if I am right and ..if I am wrong) and follow it - and this part is most difficult.. you don't need to "burn your boat" to...
traders should know that a strategies could failed.
there is no 100% precent and even no 50% success.
look at sang.real moty, simple as hell technical analysis, but!!!! Big but, his got a plan for every trade.
No human being control the market, no one can know what every wave will do.
When you get that, you become good trader, cause you know when to release bad trades.
Trade your plan! Without a plan this is just a matter of time until you are became little fish and the market will eat you alive.
Be a lizard, let them eat just your tail.. it will grow back
- #592,483
- May 1, 2021 5:11am May 1, 2021 5:11am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Thanks, you’re right about emotions, I’m extremely detached when it comes to entries, unless the trade fits my strategy I am content to sit on my hands, but because I take so few trades I am eager to take profit even if logically it’s not the best best move, after the NY open yesterday it was an emotional decision to close and ensure profit for sure. I will check out Trading in the Zone, thank you
This book will help for sure, must I must stress what you are going through is what 99% of traders face. before you placed the trade you had a particular thought process, once you execute what changes? this you need to address and find a coping mechanism so stick with your conviction.
Read the book and buy the audio, it can only help
- #592,484
- May 1, 2021 5:16am May 1, 2021 5:16am
- Joined Mar 2020 | Status: Trader | 3,499 Posts
Compulsions can be hard to resist
- #592,485
- May 1, 2021 5:27am May 1, 2021 5:27am
- Joined Aug 2018 | Status: Research Analyst | 4,290 Posts
Data + Stat + Risk/Emotions Management
- #592,486
- May 1, 2021 5:47am May 1, 2021 5:47am
{quote} This book will help for sure, must I must stress what you are going through is what 99% of traders face. before you placed the trade you had a particular thought process, once you execute what changes? this you need to address and find a coping mechanism so stick with your conviction. Read the book and buy the audio, it can only help
- #592,487
- May 1, 2021 6:09am May 1, 2021 6:09am
- Joined Nov 2020 | Status: Trader | 2,634 Posts
{quote} Thanks, you’re right about emotions, I’m extremely detached when it comes to entries, unless the trade fits my strategy I am content to sit on my hands, but because I take so few trades I am eager to take profit even if logically it’s not the best best move, after the NY open yesterday it was an emotional decision to close and ensure profit for sure. I will check out Trading in the Zone, thank you
Everybody has their own belief. Just ignore everything told and find out what works and doesn't for you or listen carefully and throw away unnecessary things. Sky is the limit. Everything is possible if you think it is possible. Just dig your way. That's all. There is no certain rules that work or not. Everything works if you make it work. And take what's enough from the market. The more you want, more drawdowns and more blown accounts.
Good luck with your journey
Note: You can ignore this too HAHA
- #592,488
- Edited 6:42am May 1, 2021 6:26am | Edited 6:42am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Got it, thanks again, you made some really good points. {image}
welcome. U basically have not accepted the risk of the trade. when u place the trade, beforehand, you should have set out a plan for your loss. Make sure u can accept it!! ONLY then place the trade and allow the market to tell u if you whether it will pay you or take your money..then wait for outcome!
Move to the next trade same % risk..so long as you have an edge which is more successful ie at least 80% if your % risk is the same each trade, mathematically you will make money. U just need to stick your plan and believe in yourself
Believing in yourself is the hard part
- #592,491
- May 1, 2021 6:39am May 1, 2021 6:39am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Two great points.
- #592,493
- Edited 7:26am May 1, 2021 6:46am | Edited 7:26am
- Joined May 2011 | Status: Balance sh*t | 2,062 Posts
Peace Yo!
- #592,494
- May 1, 2021 6:50am May 1, 2021 6:50am
- Joined Nov 2020 | Status: Trader | 2,634 Posts
{quote} It is such a simple concept bro but flipping difficult, to just see and execute without hesitation. Hopefully this time trading I can be better
If we don't have confidence with our strategy. It's better not to trade. Not losing the money is already profit
LOLEverything is strategy related. If it works nobody will hesitate to make entries and hold.
Good luck
- #592,496
- May 1, 2021 6:59am May 1, 2021 6:59am
- | Additional Username | Joined Mar 2020 | 1,607 Posts
- #592,498
- Edited May 2, 2021 9:30am May 1, 2021 9:43am | Edited May 2, 2021 9:30am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
This candle does not have the power to bring it down below support in any real world.
However, you have to feel sorry for the that economic student from Turkey quoting his 'scholars' book in this thread the other day.
Because with economics these days, the first item to consider is, just how skewed are theses markets by Central Banks or Government? Before we can go down any known economic theory.
What the hell is the FEDs next panic move when this starts crumbling under free market weight, has to be the biggest looming question .
Bloomberg
U.S. personal incomes soared in March by the most in monthly records back to 1946, powered by a third round of pandemic-relief checks that also sparked a sharp gain in spending.
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #592,499
- May 1, 2021 10:55am May 1, 2021 10:55am
- Joined May 2014 | Status: From1toMillion | 9,471 Posts
Everyone can see the chart, but only a few can actually read it.
- #592,500
- Edited May 2, 2021 11:00am May 1, 2021 11:22am | Edited May 2, 2021 11:00am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
The fed is a force for the elite.They are an integral arm of the government of whoever is in power regardless of the front claiming independence.This is a flaw that was thought about well in advance of today by the founders.Print money buy votes, fight a war or prop up zombie companies etc is what's left, without asking anyone to pay the bill.
With MMT we are told no one ever has to pay the fiddler ? i.e, there are no financial rules for a government or a currency issuer is the latest idealist dream plan
"The whole basis of the MMT taxing/spending narrative is constructed around the false consolidation of the Fed into the Treasury. If your theory relies on treating the Central Bank as the Treasury then you cannot claim to be describing reality. More importantly, people who do this are oversimplifying things and thereby confusing the specific reasons why these entities are separate in the first place."
The FED are breaking the federal reserve act by a clear mile & the constitution in this regard is toilet paper.With each new crisis we include a raft of new broken level headed rules.
It seems to me people get more excited if you talk about lowering gun ownership than dealing with sticking to the original rules on how a central bank works.
Actually, it's the shocking wealth divide direction that could cause civil war/violence later, not those guns, which may be required later the way it's going
This isn't a covid situation of what can you do ? but a long term slow degrading of all known rules/laws to the benefit of those in power.
Heres what happens when the FED step in beyond any original remit for a fact on a chart.
This effect is known since money was invented.
US government can deficit spend without consulting anyone on the other side at a huge scale, without a normal majority required .
That last Biden 1.9T package was steamrolled through, which was the biggest package in history. The next stimulus that Biden's selling may also have to be steamrolled in the same manner.
If they carry out the recent tax rise proposals, it takes 10YEARS to pay 2 trillion off... according to Biden himself, should those rises on the rich even work.
'A legislative victory - at a cost
Now that the $1.9tn Covid relief bill has cleared Congress, the new administration will have a firehose of money to fight the economic and social consequences of the pandemic.
The unilateral nature of the law's passage, however, comes at a cost.
Because of procedural maneuvres, Democrats were able to pass Biden's Covid bill with a simple majority.
Newly empowered in the Senate, Democrats instead chose to bypass Republican opposition and the risk of a filibuster — which takes 60 votes to break — and pass the legislation using a fast-track process known as reconciliation, which only requires a majority.
With MMT we are told no one ever has to pay the fiddler ? i.e, there are no financial rules for a government or a currency issuer is the latest idealist dream plan
"The whole basis of the MMT taxing/spending narrative is constructed around the false consolidation of the Fed into the Treasury. If your theory relies on treating the Central Bank as the Treasury then you cannot claim to be describing reality. More importantly, people who do this are oversimplifying things and thereby confusing the specific reasons why these entities are separate in the first place."
The FED are breaking the federal reserve act by a clear mile & the constitution in this regard is toilet paper.With each new crisis we include a raft of new broken level headed rules.
It seems to me people get more excited if you talk about lowering gun ownership than dealing with sticking to the original rules on how a central bank works.
Actually, it's the shocking wealth divide direction that could cause civil war/violence later, not those guns, which may be required later the way it's going
This isn't a covid situation of what can you do ? but a long term slow degrading of all known rules/laws to the benefit of those in power.
Heres what happens when the FED step in beyond any original remit for a fact on a chart.
This effect is known since money was invented.
US government can deficit spend without consulting anyone on the other side at a huge scale, without a normal majority required .
That last Biden 1.9T package was steamrolled through, which was the biggest package in history. The next stimulus that Biden's selling may also have to be steamrolled in the same manner.
If they carry out the recent tax rise proposals, it takes 10YEARS to pay 2 trillion off... according to Biden himself, should those rises on the rich even work.
'A legislative victory - at a cost
Now that the $1.9tn Covid relief bill has cleared Congress, the new administration will have a firehose of money to fight the economic and social consequences of the pandemic.
The unilateral nature of the law's passage, however, comes at a cost.
Because of procedural maneuvres, Democrats were able to pass Biden's Covid bill with a simple majority.
Newly empowered in the Senate, Democrats instead chose to bypass Republican opposition and the risk of a filibuster — which takes 60 votes to break — and pass the legislation using a fast-track process known as reconciliation, which only requires a majority.
On-site guru & also FF member's' psychiatrist, when not drinking tea