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Discipline Zone

  • #101
  • Jun 16, 5:12am (10 hr ago) Jun 16, 5:12am (10 hr ago)
Happy Tuesday everyone. I'm looking to go long on EUR/USD.
“Fall seven times, stand up eight.”
  • #102
  • Jun 16, 5:14am (10 hr ago) Jun 16, 5:14am (10 hr ago)
Quoting Twocans
{quote} POSTED ON TRUTH SOCIAL. 'The News' from this point forward is no more trustworthy than a Fakebook post claiming a product for sale is in 'like new' condition. {image} Donald J. Trump @realDonaldTrump ·4h Iran has agreed to never have a Nuclear Weapon! Also, the story that the U.S. is paying Iran 300 million Dollars is Fake News, put out by the Dumocrats!!! President DJT
Could be. News comes and goes, but price is what pays. I'm sticking with the chart for now.
“Fall seven times, stand up eight.”
  • #103
  • Jun 16, 5:27am (10 hr ago) Jun 16, 5:27am (10 hr ago)
Quoting arjunansh
{quote} Could be. News comes and goes, but price is what pays. I'm sticking with the chart for now.
i don't trade news either, just off the reaction to it. News today isn't reliable. Even the likes of NFP is subject to revision and those numbers are always a guesstimate anyway prepared by people who lose track of of billions of dollars and don't have a clue who ended up with it.
  • #104
  • Jun 16, 6:49am (8 hr ago) Jun 16, 6:49am (8 hr ago)
I've opened a long at 1.1600 and plan to add another position around 1.1590 if price gets there. My stop is 6 pips below that level. If the stop gets hit, I'm out and will reassess.
“Fall seven times, stand up eight.”
  • #105
  • Jun 16, 7:54am (7 hr ago) Jun 16, 7:54am (7 hr ago)
Quoting arjunansh
I've opened a long at 1.1600 and plan to add another position around 1.1590 if price gets there. My stop is 6 pips below that level. If the stop gets hit, I'm out and will reassess.
Missed the add-on to my long. At this point, I'm not sure whether I'll become a full-time trader before retirement or after it.
“Fall seven times, stand up eight.”
  • #106
  • Jun 16, 9:53am (5 hr ago) Jun 16, 9:53am (5 hr ago)
Quoting arjunansh
{quote} Missed the add-on to my long. At this point, I'm not sure whether I'll become a full-time trader before retirement or after it.
Update: Second order filled successfully . The plan is in, the risk is defined, and the worrying has officially begun.
“Fall seven times, stand up eight.”
  • #107
  • Jun 16, 10:43am (4 hr ago) Jun 16, 10:43am (4 hr ago)
Quoting arjunansh
{quote} Update: Second order filled successfully . The plan is in, the risk is defined, and the worrying has officially begun.
I cut one of my long positions for a loss roughly equal to my planned stop-loss. If price continues to fall from here, I'll consider that the right decision and stay patient for the next setup.
“Fall seven times, stand up eight.”
  • #108
  • Jun 16, 10:59am (4 hr ago) Jun 16, 10:59am (4 hr ago)
Quoting arjunansh
{quote} I cut one of my long positions for a loss roughly equal to my planned stop-loss. If price continues to fall from here, I'll consider that the right decision and stay patient for the next setup.
My remaining long is at breakeven. I may take profits around 1.16350-1.16400, depending on the reaction.
“Fall seven times, stand up eight.”
  • #109
  • Last Post: Jun 16, 12:13pm (3 hr ago) Jun 16, 12:13pm (3 hr ago)
Quoting arjunansh
{quote}My remaining long is at breakeven. I may take profits around 1.16350-1.16400, depending on the reaction.
Didn't like the way price was behaving here, so I decided to close the trade at 1.16116 and lock in what I had. The 4H close wasn't particularly impressive in my view, and price is also hovering around a resistance area on the 1H timeframe. I think the market may consolidate for a while, especially with FOMC ahead. I'll stay on the sidelines for now and reassess tomorrow after the dust settles. Good night
“Fall seven times, stand up eight.”
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