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New Cable Thread & Other Pairs

  • #4,401
  • May 13, 2024 3:15pm May 13, 2024 3:15pm
Quoting T721
eur/mickeymouse ---- my bias is down with CPI news {image} {image}
you think we have enough time to hit that weekly trend line before we go into that down trend? I was thinking of starting to ease in at today's high if we get there then average up for a drop.
  • #4,402
  • May 13, 2024 3:18pm May 13, 2024 3:18pm
Quoting T721
eur/mickeymouse ---- my bias is down with CPI news {image} {image}
If it drops low b4 CPI then i will prolly be wrong and CPI will take it up .... trade with caution
  • #4,403
  • May 13, 2024 4:00pm May 13, 2024 4:00pm
Let’s cut to the chase! The root of all of your problems as traders is found in your inability to detach yourselves from your story of survival.(e.g i need to make this money for rent, food blah blah) This is not an opinion, it’s a fact. This clouds your judgment cos your feel like your ''need'' to trade. Then you make silly mistakes cos your mind is all over. When all you need is to stay calm so you can have a clear and sober mind so you can make informed and sound decisions. You cant control the market so the only thing you can control is your emotions. if you are unaware of your inner process of thinking, thoughts of an uncertain future and memories of a painful past will manufacture anxiety, stress, doubts, and self-criticisms in the present, and those will dictate behavior and the way you trade. . All these are unproductive patterns that hinder your trading progress. Without detachment, we are prisoners of helplessness, hopelessness, despair, Focus on what you can control, instead of what you can’t. When you cultivate a sense of stillness and ease in the midst of uncertainty, you allow things to happen the way they want to. And this letting go of trying, wishing, wanting, has the potential to engineer for you not only consistent trading results but also emotional well-being. Fear, anxiety, stress, trivial concerns, quiet desperation, all of which are the distinctive features of the unprofitable trader. It’s a vicious cycle! Since you are fearful, you don’t take your trades when you should; you don’t exit where you should; You exit a trade before i reaches full potential and you end up doing things in between that mess up your opportunity. To put it plainly, when you trade, you have to empty your mind of any expectations you might be holding for yourself. That is the key to success in this field, and sadly, it is understood by few people.
  • #4,404
  • Edited 7:33pm May 13, 2024 7:16pm | Edited 7:33pm
Hello Asia my old friend, you have come to buy the dollar once again.
  • #4,405
  • May 13, 2024 7:45pm May 13, 2024 7:45pm
Quoting T721
You cant control the market so the only thing you can control is your emotions.
Well said. But I would like to add to this for peoples extra peace of mind... emotions is not the only thing you can control. This is something which we must learn to try to control, and it is essential to do so. But what we CAN 100% CONTROL is risk!

Risk control is your super power. The emotional side affect is accepting the loss when your SL is hit and admitting you were wrong. You have to admit you were wrong in that one particular trade at that one particular moment.

Look at your past winning trades (anyone). When you were right, you were really right, and price just took off and never looked back at your SL. So accepting loss is the emotional challenge, but you must take the loss sometimes.

Regarding my own P&L... this is another emotional challenge. For me, I start trading around March, and end in Early December. Its is only then that the P&L matters.

learn to control your risk, accept when you are wrong, expect loosing streaks, and focus on the long game. Every strategy works if you just stick with it
Emotional Control. Process, not outcome.
  • #4,406
  • May 13, 2024 11:03pm May 13, 2024 11:03pm
"You cant control the market so the only thing you can control is your emotions"

You said it oh so well, but still its easier said than done. I have the best trading system in the world and could make millions of dollars more a year but the main obstacles of greed and fear remains.
  • #4,407
  • May 13, 2024 11:10pm May 13, 2024 11:10pm
[quote=minhtri;14863569]. {hình ảnh[/trích dẫn]
.
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  • #4,408
  • May 13, 2024 11:11pm May 13, 2024 11:11pm
Quoting minhtri
GU {hình ảnh
.
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  • #4,409
  • May 13, 2024 11:39pm May 13, 2024 11:39pm
Happy Taco Tuesday dear All-instruments fellow traders !!

Today I mostly just sit down and relax, watching and learning and, oh yes, managing

I hope the day has amazing salsa covered pips for each and every one of you !!!!!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #4,410
  • Edited 12:42am May 14, 2024 12:15am | Edited 12:42am
one way to control your emotions is to reduce your fixed costs to a minimum.

this also reduces the pressure to constantly consume something.

you learn to be happy in other ways than through consumption.

living in the city also makes it more difficult to control your emotions, prefer the country side.

and then it is also very important to take care of your body, as it is the hardware of a trader.

but terry has already said the most important thing anyway;-)
trading is like dancing, don't think and just listen to the music!
  • #4,411
  • May 14, 2024 12:18am May 14, 2024 12:18am
pedro, thank you for your generous&brilliant seminar, I learnt a lot of new things.

e.g. that you can make clusters with fibos, i.e. look at confirmations.

i have one question: i noticed that you don't use 50% levels. is there a reason for that?

thank you.
trading is like dancing, don't think and just listen to the music!
  • #4,412
  • May 14, 2024 12:58am May 14, 2024 12:58am
Quoting birdland
pedro, thank you for your generous&brilliant seminar, I learnt a lot of new things. e.g. that you can make clusters with fibos, i.e. look at confirmations. i have one question: i noticed that you don't use 50% levels. is there a reason for that? thank you.
.5 is not part of the golden ratio. For confluence purposes not the best.
It does not mean I ignore it completely, in the case of Gold I don't, .5 it's its favourite!
GU likes .786, while EU .618, different personalities...
I am glad you enjoyed and learnt something!
GL
We watch the charts from every angle so you don't have to!!
  • #4,413
  • May 14, 2024 1:00am May 14, 2024 1:00am
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  • #4,414
  • May 14, 2024 1:00am May 14, 2024 1:00am
Good morning, i came to say great webinar Pedro, u have some amazing teaching skills and i really liked the questions, smart questions. Was a perfect evening.

For today i'm shorting fiber all the way till 1.08599(9)
...I Bet You Ain't Never Seen A Donkey Fly!
  • #4,415
  • May 14, 2024 1:20am May 14, 2024 1:20am
I too wanted to take a moment to express my sincere gratitude to Pedro for organizing such an enlightening seminar. The experience was truly invaluable, and I am deeply appreciative of the opportunity to have been a part of it.
  • #4,416
  • May 14, 2024 1:22am May 14, 2024 1:22am
Quoting pedro319
{quote} .5 is not part of the golden ratio. For confluence purposes not the best. It does not mean I ignore it completely, in the case of Gold I don't, .5 it's its favourite! GU likes .786, while EU .618, different personalities... I am glad you enjoyed and learnt something! GL
Can vouch, gold loves .5
  • #4,417
  • May 14, 2024 1:29am May 14, 2024 1:29am
Quoting pedro319
{quote} .5 is not part of the golden ratio. For confluence purposes not the best. It does not mean I ignore it completely, in the case of Gold I don't, .5 it's its favourite! GU likes .786, while EU .618, different personalities... I am glad you enjoyed and learnt something! GL
0.5 is good for detect moves acceleration. very reliable as a momentum gainer when/if reached.
chaos is just unknown order
  • #4,418
  • May 14, 2024 1:32am May 14, 2024 1:32am
Quoting Luxyus
{quote} 0.5 is good for detect moves acceleration. very reliable as a momentum gainer when/if reached.
So does the 38.2, in my system I take lots of trades at this level, works best after 7 or 8 bars, thrusting nature.
We watch the charts from every angle so you don't have to!!
  • #4,419
  • May 14, 2024 1:45am May 14, 2024 1:45am
Quoting T721
Let’s cut to the chase! The root of all of your problems as traders is found in your inability to detach yourselves from your story of survival.(e.g i need to make this money for rent, food blah blah) This is not an opinion, it’s a fact. This clouds your judgment cos your feel like your ''need'' to trade. Then you make silly mistakes cos your mind is all over. When all you need is to stay calm so you can have a clear and sober mind so you can make informed and sound decisions. You cant control the market so the only thing you can control is your...
I'm just starting out (8 months in) AND I have made my fair share of blunders which have cost me. It is like you have been speaking directly to me. My books are in red but I'm being more cautious now. I would rush to SL my trades at the slightest hint of the trend going against me, not any more. I'm more measured and I'm putting in more effort to improve for the better.
  • #4,420
  • May 14, 2024 2:12am May 14, 2024 2:12am
Quoting T721
Let’s cut to the chase! The root of all of your problems as traders is found in your inability to detach yourselves from your story of survival.(e.g i need to make this money for rent, food blah blah) This is not an opinion, it’s a fact. This clouds your judgment cos your feel like your ''need'' to trade. Then you make silly mistakes cos your mind is all over. When all you need is to stay calm so you can have a clear and sober mind so you can make informed and sound decisions. You cant control the market so the only thing you can control is your...
Thank you Mr. T
Stress and fear take over our decisions in this uncertain market, I can say that once I decided to treat my account as LOST, things changed, and I started realizing the potential of my trading. A bit strange, but it helped me at the time, and I even started to enjoy it)
'In the clearing stands a boxer And a fighter by his trade..'
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