- #6,501
- Aug 28, 2007 5:41pm Aug 28, 2007 5:41pm
- | Joined Feb 2007 | Status: POP FIAT FASCISM | 1,106 Posts
Oops, sorry, RB or a form of it.
)....But, really you are brave to go long on yen pairs...but the retrace should be very large! I'm waiting for it so I can short again ...Let's hope the retrace for G/J doesn't happen before we hit our targets on G/U! If the retrace does happen...our longs are probably going to stop out...then we sell again!!!!
Seriously, Hipster...some nice trades today! & if you take a round bottom...trade it defensively...the potential is HUGE, but risky....but you know that...sorry
Happy trading!
Pips
- #6,503
- Aug 28, 2007 6:05pm Aug 28, 2007 6:05pm
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Failure, is a wonderful teacher!
- #6,504
- Edited 6:55pm Aug 28, 2007 6:43pm | Edited 6:55pm
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
Pips:
Whooooshhh...I guess the Red Sox fan PM'd you also. I mentioned something to the fact that I thought you posted something about correlations earlier in the thread, low and behold it was you. I have very selective memory. Glad you took care of that one. Even though he or she is a Red Sox fan...just kidding folks even though I pull for the Yanks.
Either way. The $Yen gave a good Tc signal around the 12:00 bar and I road it down. I just watched the E$, but just wacthed. If I'm in on one pair I like to just keep focused there. Either way it worked out well. E$ still on its way down sitting right at the 89..Will it take a breather or barrel on through....we'll see....
Oh yeah, I'm working on getting all of the lessons on the website so they are easy to find. They'll be zipped into a few folders to minimize the downloads. Chart page will be kinda large so that will take some time...getting there....too many pips getting in the way
Whooooshhh...I guess the Red Sox fan PM'd you also. I mentioned something to the fact that I thought you posted something about correlations earlier in the thread, low and behold it was you. I have very selective memory. Glad you took care of that one. Even though he or she is a Red Sox fan...just kidding folks even though I pull for the Yanks.
Either way. The $Yen gave a good Tc signal around the 12:00 bar and I road it down. I just watched the E$, but just wacthed. If I'm in on one pair I like to just keep focused there. Either way it worked out well. E$ still on its way down sitting right at the 89..Will it take a breather or barrel on through....we'll see....
Oh yeah, I'm working on getting all of the lessons on the website so they are easy to find. They'll be zipped into a few folders to minimize the downloads. Chart page will be kinda large so that will take some time...getting there....too many pips getting in the way
- #6,505
- Aug 28, 2007 7:23pm Aug 28, 2007 7:23pm
Hello everyone.
I had taken the cable long. which turned out to be in loss. Cable was in nice motion so i took the bounce off 89 , but got in around 8ma since the signal candle was long.
Now there is no such thing as system failure. The system is there to guide us. It is our own responsibility how to manage our trades. I found out today that no matter how good a set up looks the market can go the other way. I failed poorly at money management today. I kept hoping the the price was going to turn around and place a huge stop loss which got taken out . Please dont ask me where it was because i am trying to get over the loss and think am being brave enough to share it.( thankyou in advance)
BUT the moral of the trade is that no matter how good everything looks it is very important to have a sound money management in place. Now most of you will say, did she not already know that. it is one of the basic rules of forex.dont risk more than 2% to 3 % of your capital.how can she make such a mistake etc etc. Guess what i have been asking my self the same question, how can i be soooo stupid and un diciplined. It just goes to show how easy it can be for someone even like me who tries to stay within the rules as much as possible to lose control in an out of control market. I hope some one will learn from my mistake including myself.
Anyone is welcome to comment or add to this experience. its all part of learning. Thankyou for listening,
NAdia.
Ok now looking forward for to the next possible high probability trade.
I had taken the cable long. which turned out to be in loss. Cable was in nice motion so i took the bounce off 89 , but got in around 8ma since the signal candle was long.
Now there is no such thing as system failure. The system is there to guide us. It is our own responsibility how to manage our trades. I found out today that no matter how good a set up looks the market can go the other way. I failed poorly at money management today. I kept hoping the the price was going to turn around and place a huge stop loss which got taken out . Please dont ask me where it was because i am trying to get over the loss and think am being brave enough to share it.( thankyou in advance)
BUT the moral of the trade is that no matter how good everything looks it is very important to have a sound money management in place. Now most of you will say, did she not already know that. it is one of the basic rules of forex.dont risk more than 2% to 3 % of your capital.how can she make such a mistake etc etc. Guess what i have been asking my self the same question, how can i be soooo stupid and un diciplined. It just goes to show how easy it can be for someone even like me who tries to stay within the rules as much as possible to lose control in an out of control market. I hope some one will learn from my mistake including myself.
Anyone is welcome to comment or add to this experience. its all part of learning. Thankyou for listening,
NAdia.
Ok now looking forward for to the next possible high probability trade.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
- #6,506
- Aug 28, 2007 8:02pm Aug 28, 2007 8:02pm
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
Hello everyone.
I had taken the cable long. which turned out to be in loss. Cable was in nice motion so i took the bounce off 89 , but got in around 8ma since the signal candle was long.
Now there is no such thing as system failure. The system is there to guide us. It is our own responsibility how to manage our trades. I found out today that no matter how good a set up looks the market can go the other way. I failed poorly at money management today. I kept hoping the the price was going to turn around and place a huge stop loss which got taken out . Please dont ask me where it was because i am trying to get over the loss and think am being brave enough to share it.( thankyou in advance)
BUT the moral of the trade is that no matter how good everything looks it is very important to have a sound money management in place. Now most of you will say, did she not already know that. it is one of the basic rules of forex.dont risk more than 2% to 3 % of your capital.how can she make such a mistake etc etc. Guess what i have been asking my self the same question, how can i be soooo stupid and un diciplined. It just goes to show how easy it can be for someone even like me who tries to stay within the rules as much as possible to lose control in an out of control market. I hope some one will learn from my mistake including myself.
Anyone is welcome to comment or add to this experience. its all part of learning. Thankyou for listening,
NAdia.
Ok now looking forward for to the next possible high probability trade.
We've all done it! It's a right of passage!...the most important part is your last sentence! Remember it!!
You know my story...After trading live for 5 months, I blew 50% of my account on 1 trade (yup E/U)....I watched it plummet and I had like 10 mini lots on....kept thinking....E/U always comes back...it is a pokey ranging curse word. Well it fell over a hundred pips and hit a TL that if it broke would have taken the beast to the center of hell where it belonged
....so, I closed...only to watch the pair turn right where I closed, bounced happily back up those hundred or so pips...and go right to my TP...which was only 20 pips from where I entered!! I moped for a few weeks...kicked myself...and then paid a mentor to help me correct my evil ways. 
(and I still did a few really bad moves for another 6 months...talk about thick headed!). & as to knowing good money management....yup we all know the rhetoric...but it isn't always easy to follow. Don't be fooled, we all screw up! The only important thing is surving to trade another day!
Best to you & thanks for sharing!
Donna
- #6,508
- Aug 28, 2007 8:08pm Aug 28, 2007 8:08pm
Hello everyone.
I had taken the cable long. which turned out to be in loss. Cable was in nice motion so i took the bounce off 89 , but got in around 8ma since the signal candle was long.
Now there is no such thing as system failure. The system is there to guide us. It is our own responsibility how to manage our trades. I found out today that no matter how good a set up looks the market can go the other way. I failed poorly at money management today. I kept hoping the the price was going to turn around and place a huge stop loss which got taken out . Please dont ask me where it was because i am trying to get over the loss and think am being brave enough to share it.( thankyou in advance)
BUT the moral of the trade is that no matter how good everything looks it is very important to have a sound money management in place. Now most of you will say, did she not already know that. it is one of the basic rules of forex.dont risk more than 2% to 3 % of your capital.how can she make such a mistake etc etc. Guess what i have been asking my self the same question, how can i be soooo stupid and un diciplined. It just goes to show how easy it can be for someone even like me who tries to stay within the rules as much as possible to lose control in an out of control market. I hope some one will learn from my mistake including myself.
Anyone is welcome to comment or add to this experience. its all part of learning. Thankyou for listening,
NAdia.
Ok now looking forward for to the next possible high probability trade.
We will take it as part of the learning.
Haste not to Enter AND Haste not to Exit !-TradeStar
Nadia:
If you ask me, admitting to a loss just gains respect, at least from me it does. Knowing that the market has the last say so is part of it as well. It's easy to bend the rules a little when you 'think' that the market is going to do something even though the set-up isn't quite there yet. We've all taken our beatings along the way but I think those are good everyone once in a while. It helps build discipline and patience. That's why I think losses are good every once in a while, they help keep you focused the next time around.
I'm done...gotta go click some ads at that hot new website!
- #6,510
- Aug 28, 2007 8:40pm Aug 28, 2007 8:40pm
Thankyou for your support and replies my friends.I guess loss and especially dealing with it is all part of growing in forex.
After posting my loss i opened the book ."Trading in the zone". because long overdue to finish it. I randomly opened a page and guess what.It opened up on chapter 3, page 38, and in bold writing it said REACTING TO LOSS.
I am not kidding. so been reading it since then. Thanks again.
Nadia.
P.S. also thankyou to my friends on skype.!!!
After posting my loss i opened the book ."Trading in the zone". because long overdue to finish it. I randomly opened a page and guess what.It opened up on chapter 3, page 38, and in bold writing it said REACTING TO LOSS.
I am not kidding. so been reading it since then. Thanks again. Nadia.
P.S. also thankyou to my friends on skype.!!!
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
Thankyou for your support and replies my friends.I guess loss and especially dealing with it is all part of growing in forex.
After posting my loss i opened the book ."Trading in the zone". because long overdue to finish it. I randomly opened a page and guess what.It opened up on chapter 3, page 38, and in bold writing it said REACTING TO LOSS.
Nadia.
P.S. also thankyou to my friends on skype.!!!
. I think it's because I haven't got my rhythm back.I remember Dire posted early on the thread: Stick to the plan, if it work - learn from it, if it doesn't - learn from it.
The rest are doing good job here
.
- #6,515
- Edited 3:54am Aug 29, 2007 3:14am | Edited 3:54am
- | Commercial User | Joined Nov 2006 | 2,223 Posts
