The Swamp

Quoting LoneTrader1

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{quote} Thanks Gator! I'm in. I did try EU too at 1.0434 SL was 1.04405 but I closed it at 1.0437 In the prop firm account re entered at 1.0331 but it's at B.E Edit : EU SL now 1.0439

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Quoting gatorinla

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{quote} I didnt know you dip the prop firm. Is Nova still operating. They owe me a few shillings. I went to cash in about 6 weeks ago and got the reorganising BS. I haven't got a response since asking to be paid. I figured they closed the doors. But who knows?

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Quoting gatorinla

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{quote} I didnt know you dip the prop firm. Is Nova still operating. They owe me a few shillings. I went to cash in about 6 weeks ago and got the reorganising BS. I haven't got a response since asking to be paid. I figured they closed the doors. But who knows?

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Quoting LoneTrader1

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{quote} I don't know about Nova, Mine is FTMO not funded it's a challenge. FTMO and IC

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Quoting gatorinla

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{quote} Most of them will scam you. But I will leave you with this. If you can trade within their guidelines. It will make you a better trader. So you can turn the scam in your direction. But you need to make yourself some rules and stick with them. Turn the negative into a positive. No FOMO allowed should be a rule. There will always be another trade..

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Quoting LoneTrader1

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{quote} Right! 90% of them are a scam or with strange rules and excuses. FTMO has been around for a long time and I had a good experience. No restrictions on trading strategies, and overall fair rules. That's right! FOMO and greed are dangerous things. Focus must be on flawless executions of your trades. SL and TP which are extremely essential tools should be used.

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Quoting LoneTrader1

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{quote} Example: (Simulated) If I had this trade idea then I should have executed this trade. But I haven't. {image}

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Quoting gatorinla

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Here is an example.. The gbp has reached a level slightly above its week average. What's the odds of it being the high for the week? I certainly dont know. I think its better than 25%.. This all just assumptions for an example. You may say its higher.. If one could go to a casino, and have 4 (25%) numbers to pick that paid 10 to 1. I mean, it's not so bad. In the above scenario. The wk has been tested once already and was rejected. So could that not bring the odds up to 50/50?

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Quoting gatorinla

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{quote} Lets add, sure we got news that could destroy this. Lets just assume the week high is set. If so, we got Friday to go. 1 adr below the week high is about 112 pips.

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Quoting gatorinla

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{quote} If you had this idea, figure a realistic reward. Then figure a realistic risk. You dont need a million pips for a stop loss. Your idea is not infinite. It shows a place to enter. So base the stop loss (risk) on it only. Just assume your right. Stop loss can be 5 or 10% the reward. If you do this you will get better. But you can not get in early. That gives failure more odds than if you dont. I often put entries pips away form highs. I put a stop a pip or 2 above it. I'm betting the high holds.. So what if I'm wrong. I lose 4 pips. I have...

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Quoting LoneTrader1

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{quote} Mostly I scalp quick in and out, US indices, Gold etc and the amount of stress it gives is unbearable, sometimes the market moves too fast too far, so my focus is now high R:R trades. I have done it in the past though. But watching you do it inspired me to focus on these trades only. Scalping needs extremely strong discipline, fast execution and so many things could go wrong.

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Quoting LoneTrader1

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{quote} I tried this XAUUSD trade, was stopped out but it was a 25X trade. My SL was too tight 10 pips, high was 2763.40 {image}

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Quoting gatorinla

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{quote} If you had this idea, figure a realistic reward. Then figure a realistic risk. You dont need a million pips for a stop loss. Your idea is not infinite. It shows a place to enter. So base the stop loss (risk) on it only. Just assume your right. Stop loss can be 5 or 10% the reward. If you do this you will get better. But you can not get in early. That gives failure more odds than if you dont. I often put entries pips away form highs. I put a stop a pip or 2 above it. I'm betting the high holds.. So what if I'm wrong. I lose 4 pips. I have...

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Quoting gatorinla

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{quote} If its a strong move,, I place entries 5 or so pips off the level. Anticipating it may slip some past. Those 5 pips give me 5 pips more of s/l.. and 5 pips more of potential reward.

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Quoting LoneTrader1

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{quote} Noted. Sometimes I add another position and put the bad entry at break even, but if it doesn't work the risk doubles. So you are right since market overshoots some most of the times should wait for a better entry.

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Quoting gatorinla

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{quote} I'm still necked holding my balls on this GU trade. I didnt move the s/l. If its the high, than its the high. I was looking for 2323. But 1 adr gives more options. The truth be told. I have not lowered the tp atm

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