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The "Other" direction!

  • #1
  • First Post: Apr 19, 2005 9:25pm Apr 19, 2005 9:25pm
I notice that when I place a trade almost always I start losing pips before I start gaining. Is this normal? Does this happen to the rest of you? It seems like it heads the other direction when I place a trade, then comes back around.
  • #2
  • Apr 19, 2005 9:38pm Apr 19, 2005 9:38pm
Oh you betcha....

Except for me about 70% of the time it doesn't turn around.... or if it does, it is right after I stop out by a point or two.

I don't think I've ever placed a market entry that didn't backpedal at the beginning. Course I've been trading on FXCM......
Don Life is expensive, but includes a free trip around the sun.
  • #3
  • Apr 19, 2005 9:53pm Apr 19, 2005 9:53pm
Quoting traderone
Oh you betcha....

Except for me about 70% of the time it doesn't turn around.... or if it does, it is right after I stop out by a point or two.

I don't think I've ever placed a market entry that didn't backpedal at the beginning. Course I've been trading on FXCM......
Well actually they dont always turn around.LOL, Hey I am really enjoying the free trip around the sun!
  • #4
  • Apr 19, 2005 10:23pm Apr 19, 2005 10:23pm
Quoting bluemonkey
I notice that when I place a trade almost always I start losing pips before I start gaining. Is this normal? Does this happen to the rest of you? It seems like it heads the other direction when I place a trade, then comes back around.
i have in twenty years of trading never caught the exact bottom or top to the tick that i can remember. if you ever figure out how please let me know as i will write you a very very big check to learn how. jim
  • #5
  • Apr 20, 2005 4:12am Apr 20, 2005 4:12am
Generally, one trades a system because it is positively correlated to price movement. We trade TRLs because they are negatively correlated.
  • #6
  • Apr 20, 2005 11:33am Apr 20, 2005 11:33am
Quoting davide123
Generally, one trades a system because it is positively correlated to price movement. We trade TRLs because they are negatively correlated.
ok, that one kinda went over my head. I guess you are saying "you trade to make money"
  • #7
  • Apr 20, 2005 11:39am Apr 20, 2005 11:39am
Quoting james16
i have in twenty years of trading never caught the exact bottom or top to the tick that i can remember. if you ever figure out how please let me know as i will write you a very very big check to learn how. jim
Well that tells me if you have been around for twenty years trading, you dont have to pick the tops or bottoms! I ordered the Delta phenonmena book or however you spell it. That should help me pin point the exact market turns.LOL
  • #8
  • Apr 20, 2005 11:52am Apr 20, 2005 11:52am
Quoting bluemonkey
ok, that one kinda went over my head. I guess you are saying "you trade to make money"
Yes, generally that is is true. We also trade to stick to a system.
  • #9
  • Apr 20, 2005 4:22pm Apr 20, 2005 4:22pm
Quoting davide123
Yes, generally that is is true. We also trade to stick to a system.
Most definitely.
  • #10
  • Apr 20, 2005 4:34pm Apr 20, 2005 4:34pm
Quoting bluemonkey
I notice that when I place a trade almost always I start losing pips before I start gaining. Is this normal? Does this happen to the rest of you? It seems like it heads the other direction when I place a trade, then comes back around.
It's painful to admit, but this has been happening to me for 25 years. There isn't room for an ego at the trading desk.
  • #11
  • Apr 20, 2005 5:54pm Apr 20, 2005 5:54pm
Quoting fxpro
It's painful to admit, but this has been happening to me for 25 years. There isn't room for an ego at the trading desk.
Good! I mean good in a good way. I dont know any other traders so I didn't have any references to draw upon. I thought maybe I was doing something wrong.
  • #12
  • Apr 22, 2005 7:42pm Apr 22, 2005 7:42pm
Quoting bluemonkey
Good! I mean good in a good way. I dont know any other traders so I didn't have any references to draw upon. I thought maybe I was doing something wrong.
blue, what kind of system are you using and is it mechanical?
Relax and be happy.
  • #13
  • Apr 22, 2005 8:31pm Apr 22, 2005 8:31pm
Quoting merlin
blue, what kind of system are you using and is it mechanical?
Hey Merlin,

The system I have been using is an breakout system. Mechanical yeah sorta of............ by that I mean if the bars dont look right I dont make the trade. I am making slowing the transition of making more pips than I lose. Of course that could change since I am in the infant stage of my trading career. For some reason I guess it was the money, I couldn't "get it" trading with a demo account now that I have real money on the line I learn faster and retain more information then with a demo account. I hate it when the markets close and I can't watch the market moves. One thing I like about me Is that I wont trade just to trade, I can wait for the right time to make my move, wait for the set ups. Since I have money on the line now I read things like money management which was boring on the demo account. I bought the book "the trading game" about a year ago when I opened up my demo account and now am reading it. Anyways, since theres no market action my reply was longer than I wanted to be, sorry.
  • #14
  • Apr 25, 2005 12:12am Apr 25, 2005 12:12am
Quoting bluemonkey

Hey Merlin,

The system I have been using is an breakout system. Mechanical yeah sorta of............ by that I mean if the bars dont look right I dont make the trade. I am making slowing the transition of making more pips than I lose. Of course that could change since I am in the infant stage of my trading career. For some reason I guess it was the money, I couldn't "get it" trading with a demo account now that I have real money on the line I learn faster and retain more information then with a demo account. I hate it when the markets close and I can't watch the market moves. One thing I like about me Is that I wont trade just to trade, I can wait for the right time to make my move, wait for the set ups. Since I have money on the line now I read things like money management which was boring on the demo account. I bought the book "the trading game" about a year ago when I opened up my demo account and now am reading it. Anyways, since theres no market action my reply was longer than I wanted to be, sorry.
you made a smart move going to a "real money" account. demo trading is only usefull for understanding how the trading platform operates, its benefits stop there.

LOL!!! i can relate to your feelings when the market is closed. on the weekends i feel like the world has stopped spinning temporarily

your patience will come in handy. if you are in your "infant" stage and you already have patience like that you might just have what it takes. have you read Van Tharp yet? he has a simple way of explaining MM.
Relax and be happy.
  • #15
  • Apr 26, 2005 2:23pm Apr 26, 2005 2:23pm
Yes I have his book Trade your way to financial freedom. Not sure if it is the book you are referring too. Am About to start reading it.
  • #16
  • Apr 26, 2005 4:43pm Apr 26, 2005 4:43pm
Quoting bluemonkey
Yes I have his book Trade your way to financial freedom. Not sure if it is the book you are referring too. Am About to start reading it.
yeah, thats the one.
Relax and be happy.
  • #17
  • Apr 26, 2005 6:12pm Apr 26, 2005 6:12pm
Quoting merlin
yeah, thats the one.
Of how much use is this Van Tharp book for currency trading? I get the impression that he concentrates on stock trading and there is hardly any reference to currencies in the index. Beau's chapter on MM in 5MinFX is good and the discussions in that forum have also fleshed this out.

Merlin, what is the best book or course you would recommend for better strategies and MM in currency trading?

Thanks
  • #18
  • May 25, 2005 1:22pm May 25, 2005 1:22pm
I read the book a few years ago and can't remember if he was weighted towards stocks vs. futures. But, the main topic was money management techniques applied to trading in general. It's a solid, no nonsense book about the subject.
  • #19
  • May 25, 2005 5:45pm May 25, 2005 5:45pm
Quoting Trinity
Of how much use is this Van Tharp book for currency trading? I get the impression that he concentrates on stock trading and there is hardly any reference to currencies in the index. Beau's chapter on MM in 5MinFX is good and the discussions in that forum have also fleshed this out.

Merlin, what is the best book or course you would recommend for better strategies and MM in currency trading?

Thanks
trading is trading. forex, futures, stocks, efts, bonds... its all the same when it comes to MM.
Relax and be happy.
  • #20
  • Aug 28, 2012 8:07am Aug 28, 2012 8:07am
Depends on which broker you are using. Some brokers, in order to fill your trade, take the opposite direction from you temporarily. Try using ECN broker for best results.
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