cobraforex thanks!
- #23,702
- Aug 25, 2008 9:40pm Aug 25, 2008 9:40pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
a lesson for my trigger finger...
you think it is too early to place a short now?
- #23,704
- Aug 25, 2008 9:41pm Aug 25, 2008 9:41pm
- | Commercial User | Joined Aug 2008 | 7,691 Posts
Repeat after me. Breath in slowly, then exhale.
LOL after reading my post again.. i am slapping myself !@@ hahaah
i said lesson learn on trigger happy.. and immediately i asked if its ok to place a short now LOL
- #23,705
- Aug 25, 2008 9:43pm Aug 25, 2008 9:43pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #23,707
- Aug 25, 2008 9:44pm Aug 25, 2008 9:44pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #23,709
- Aug 25, 2008 9:46pm Aug 25, 2008 9:46pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #23,710
- Aug 25, 2008 9:46pm Aug 25, 2008 9:46pm
- | Commercial User | Joined Aug 2008 | 7,691 Posts
Seriously though, you are never going to learn listening to the 'experts' here, not to mention the news hounds.
i do my own studies online too.. so reading myself online is like attending a lecture...
when i come here, it is like a class.. discussion LOL
hey its college days again!!!! hahaahaha
- #23,714
- Edited 9:55pm Aug 25, 2008 9:53pm | Edited 9:55pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #23,715
- Aug 25, 2008 9:58pm Aug 25, 2008 9:58pm
I truly understand the feeling. When you see that bar charging down (or up) its hard to believe it will ever come back to let you in.
But
Just look at the past few weeks. Plenty of opportunities.
Using Fibs and limit orders will help with retrace entries and discipline. Gives you time to think, and protects you from getting in right at the end of the move. Something I've done many times myself.
My burnt fingers taught me that important lesson.
Jim
But
Just look at the past few weeks. Plenty of opportunities.
Using Fibs and limit orders will help with retrace entries and discipline. Gives you time to think, and protects you from getting in right at the end of the move. Something I've done many times myself.
My burnt fingers taught me that important lesson.
Jim
- #23,717
- Aug 25, 2008 10:02pm Aug 25, 2008 10:02pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Some people after losing many times decide maybe if they just do the opposite they will turn into a winner. Life is never that simple.
What they need to do is trade their setup the opposite way, not opposite direction. For instance with the trend being down for a while instead of trying to go short as the market goes lower, try to determine a place to go short on a retrace back up.
Here is a 4hr chart showing a nice setup, retrace with one bar right to 50%, next bar barely goes above, then closes back below 50% level. Also red declining trendline from prior swing high was in the way. Bing, down 2 4hr bars so far. With very little risk. This can be learned by anyone. But not by asking hey should I go long/short or shong as Moe liked to say.
What they need to do is trade their setup the opposite way, not opposite direction. For instance with the trend being down for a while instead of trying to go short as the market goes lower, try to determine a place to go short on a retrace back up.
Here is a 4hr chart showing a nice setup, retrace with one bar right to 50%, next bar barely goes above, then closes back below 50% level. Also red declining trendline from prior swing high was in the way. Bing, down 2 4hr bars so far. With very little risk. This can be learned by anyone. But not by asking hey should I go long/short or shong as Moe liked to say.
lol bro.. my 200 SL saved me from yesterday.. got out today with a little profits.. but not this.. i respect of all the experienced bro here.. so i ended trade.. took 3 pips loss.. its ok .. a lesson for my trigger finger...
i only have MA5 on my chart...
one advise.. you think it is too early to place a short now?
Some people after losing many times decide maybe if they just do the opposite they will turn into a winner. Life is never that simple.
What they need to do is trade their setup the opposite way, not opposite direction. For instance with the trend being down for a while instead of trying to go short as the market goes lower, try to determine a place to go short on a retrace back up.
Here is a 4hr chart showing a nice setup, retrace with one bar right to 50%, next bar barely goes above, then closes back below 50% level. Also red declining trendline from prior swing high was in the way. Bing, down 2 4hr bars so far. With very little risk. This can be learned by anyone. But not by asking hey should I go long/short or shong as Moe liked to say.
Thanks
- #23,720
- Aug 25, 2008 10:15pm Aug 25, 2008 10:15pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Some people after losing many times decide maybe if they just do the opposite they will turn into a winner. Life is never that simple.
What they need to do is trade their setup the opposite way, not opposite direction. For instance with the trend being down for a while instead of trying to go short as the market goes lower, try to determine a place to go short on a retrace back up.
Here is a 4hr chart showing a nice setup, retrace with one bar right to 50%, next bar barely goes above, then closes back below 50% level. Also red declining trendline from prior swing high was in the way. Bing, down 2 4hr bars so far. With very little risk. This can be learned by anyone. But not by asking hey should I go long/short or shong as Moe liked to say.
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