I am.
Chasing the market makes you look like a dog chasing his own tail.
Cable Update (GBPUSD)
- #40,044
- Nov 19, 2007 6:27am Nov 19, 2007 6:27am
- Joined Sep 2006 | Status: Trader | 2,163 Posts
Cable is goin to fall below 2.0450 soon...i,m short!
"Invest With The Insiders, Not The Masses"
George Muzea
- #40,045
- Nov 19, 2007 6:37am Nov 19, 2007 6:37am
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
One thing that sucks in trading off of larger time frames is that you enter a trade then watch it hover around -30 pips 
But trust me if you leave it open then go away from your computer for a few hours and do something like read a book in a cafe that has a steady suppy of good looking women that come in 
Then come home and see that your now are around 100 pips in profit, Now your are moving your stop losses up and looking for places to add to your position and now go do something else for a few hours and so on and so on. Of course you can come home and your stop loss was hit which does happen, But most of the time it was after you moved your stop losses up a few times in profit. My stop losses are normally around 60-100 pips just so I dont get knocked out by noise.
But trust me if you leave it open then go away from your computer for a few hours and do something like read a book in a cafe that has a steady suppy of good looking women that come in Then come home and see that your now are around 100 pips in profit, Now your are moving your stop losses up and looking for places to add to your position and now go do something else for a few hours and so on and so on. Of course you can come home and your stop loss was hit which does happen, But most of the time it was after you moved your stop losses up a few times in profit. My stop losses are normally around 60-100 pips just so I dont get knocked out by noise. Just Trade It
- #40,046
- Nov 19, 2007 6:37am Nov 19, 2007 6:37am
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
To sum it up
(2 X 2) = 
(
2 X 2) = Just Trade It
- #40,047
- Nov 19, 2007 6:40am Nov 19, 2007 6:40am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
One thing that sucks in trading off of larger time frames is that you enter a trade then watch it hover around -30 pips
- #40,049
- Nov 19, 2007 6:47am Nov 19, 2007 6:47am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #40,050
- Nov 19, 2007 6:52am Nov 19, 2007 6:52am
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
You're right on that one. My best trades happen when I'm not around
Just Trade It
- #40,052
- Nov 19, 2007 6:56am Nov 19, 2007 6:56am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
You dont get emotional when your away from the screen because you miss all the noise, but at the same time your debating on getting that smart phone that allows you to watch that noise from anywhere, anytime.
I have to admit, having a system is much easier.
If rules are clear, like SL and TP, there's nothing you can do except waiting.
- #40,053
- Nov 19, 2007 7:03am Nov 19, 2007 7:03am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #40,054
- Nov 19, 2007 7:08am Nov 19, 2007 7:08am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
- #40,055
- Nov 19, 2007 7:11am Nov 19, 2007 7:11am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
I used to go along with support and resistances and other price action...
Price action? After October? It's crazy just to think about it.
Now I'm testing a strategy that the author asked me not to disclose yet. It's on GJ.
I'm on this since last week. Results are still not conclusive due to short period. Backtesting was OK, but I want to see the real deal. Small lots only just to feel it.
As the market wiped me out in October, I decided to stay on this until next year when possibly I'll refund the account. If the strategy works.
Market is being too crazy to attempt trading what it use to be when I got started.
I try to use a mix of fundies/techs but sometimes when it gets hectic you just have to take a seat in the stands and let the game go on without you.
Patience + Humility + Study = Success
- #40,057
- Nov 19, 2007 7:15am Nov 19, 2007 7:15am
- | Membership Revoked | Joined Mar 2005 | 4,703 Posts
One thing that sucks in trading off of larger time frames is that you enter a trade then watch it hover around -30 pips
If I Go Broke Trying Then I Will die happy.
- #40,058
- Nov 19, 2007 7:17am Nov 19, 2007 7:17am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Understood on the non disclosure
But rules change almost everyday. Dow Jones puts -200 and closes green, USD on carry trades behavior , Bad news is good news, market price in another cut, then gives up on it, Bernanke spreeing bullshit in the fan.
Then some freaking bank in London spook investors, so forth...
The big picture is blurred, imo. Impossible to understand what is going to happen in the next M15.
- #40,059
- Nov 19, 2007 7:19am Nov 19, 2007 7:19am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Now I'm in a poker tournament on the internet.
At least there, not knowing what is the next card is rule of the game!
At least there, not knowing what is the next card is rule of the game!
- #40,060
- Nov 19, 2007 7:20am Nov 19, 2007 7:20am
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
I have to admit, having a system is much easier.
If rules are clear, like SL and TP, there's nothing you can do except waiting.
NO WAIT, I am not supposed to have emotions and I am suposed to be bored.
Sorry, cant do it. This shit is fun
Just Trade It