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  • #5,521
  • Aug 28, 2008 9:49am Aug 28, 2008 9:49am
Quoting xscamx
hey bo and shermenator i would like to ask you a question?? how do you get rid of your emotions during trading......it seems to be my number 1 enemy in trading the forex.... i also think that would also be the number 1 enemy for many new traders.... so could you pls guide me and everybody else who has this problem...pls guide us so that we could be sucessfull traders like you guys.....help us beat this emotion....

Your absolutely right, emotions are the hardest thing to overcome when trading, the only thing I can help with in this department is it takes time and as you gain experience your confidence level will increase as the fear of loss deminishes. To methis is why its best to trade demo untill your confident in what your doing then go live once you have some experience under your belt.
  • #5,522
  • Aug 28, 2008 9:57am Aug 28, 2008 9:57am
sold last night at 355 closed this am at 328, net 27
sold retrace at 343 after news, closed at 320, net 23
added lot at 373 closed at 326, net 47

out for today.
  • #5,523
  • Aug 28, 2008 10:04am Aug 28, 2008 10:04am
well i am out from this hectic short.... got 53pips... may friday be a better day
  • #5,524
  • Aug 28, 2008 10:07am Aug 28, 2008 10:07am
Exellent job if you made pips today...dont get back in now just wait to do it all over again tomorrow.
  • #5,525
  • Aug 28, 2008 10:13am Aug 28, 2008 10:13am
Quoting Shermenator
I have closed my trade with 10 pips.....this was some hard work haha...goodnight guys my eyes hurt lol

Even though its moved short from your entry now, dont sweat it, dont worry about it and dont second guess yourself. All that matters is you survived a very choppy day and are leaving it behind with positive pips. Tomorrow is a new day.
  • #5,526
  • Aug 28, 2008 10:22am Aug 28, 2008 10:22am
From 1H chart today, I didn't get chance to enter as so many long tail on both side and strong support ( monthly fib long ) at 1.8303. Maybe we can get some pips from 5m chart. Waht about you, Bo? Here is my chart, if you enter for short which level you would consider?

Keep learning,
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  • #5,527
  • Aug 28, 2008 10:26am Aug 28, 2008 10:26am
Nothing less that the 1 hour for me. The 1 hour gives enough false signals, the lower the timeframe the more false signals are generated. They just dont fit my style. Ive tried trading the smaller timeframes and the success rate just isnt high enough for me.
  • #5,528
  • Aug 28, 2008 10:29am Aug 28, 2008 10:29am
Quoting prov1813
sold last night at 355 closed this am at 328, net 27
sold retrace at 343 after news, closed at 320, net 23
added lot at 373 closed at 326, net 47

out for today.
You did a hell of trading, man !
The mkt.was so chopy!
I aplaud you for todays results!

Regards
  • #5,529
  • Aug 28, 2008 10:38am Aug 28, 2008 10:38am
Hi Bo,

I mean do you think any chances to enter in 1H chart today.


Keep learning,
  • #5,530
  • Aug 28, 2008 10:54am Aug 28, 2008 10:54am
Quoting speedarad
You did a hell of trading, man !
The mkt.was so chopy!
I aplaud you for todays results!

Regards
Thanks, but credit goes to Bo. Intraday signalled entries, exits spoke for themselves and I (gratefully) slept through the chop.
  • #5,531
  • Aug 28, 2008 11:01am Aug 28, 2008 11:01am
Quoting prov1813
Thanks, but credit goes to Bo. Intraday signalled entries, exits spoke for themselves and I (gratefully) slept through the chop.
I know . Bo is providing a high quality trading strategie here.
This "Fib" combinations are quiet amazing the way it works.
We have the chance to grab this stuff for free while there is so much crap for sale out there for big bucks.
  • #5,532
  • Aug 28, 2008 11:44am Aug 28, 2008 11:44am
Today was a crazy day but I ended with + 71 pips with 3 winner trades and 1 loss (-19) because I didnt have patient to wait ... Today the market was as bad as it was Yesterday during London session, this was the big point in my opnion, because it took my patient to extreme.

But as Bo says, wait for the best time is the best choice, because you don't put your capital in risk. I'm still fighting against it.. and it seems that I had some progress, I'm 126 pips postive for this week so far.
  • #5,533
  • Aug 28, 2008 11:55am Aug 28, 2008 11:55am
Quoting jren07
Hi Bo,

I mean do you think any chances to enter in 1H chart today.


Keep learning,
Im a little late responding but ,no I would not enter another trade today regardless of what it does now, wait till the next Frankfurt/London session and we can repeat the process, hopefully without all the chop.
  • #5,534
  • Aug 28, 2008 3:08pm Aug 28, 2008 3:08pm
I had such a day with cable today,but at the end i came out smiling.i learn the act of patience and trusting ur system a lot today.Bo! or anyone,please i want to ask if we can neglect dates when pulling our intraday fibs once we have a trend that has a high or low starting from the previous day.Help me tell which can be say it's ok among the two fib's drawn,yellow or pink
  • #5,535
  • Aug 28, 2008 7:45pm Aug 28, 2008 7:45pm
Quoting prov1813
Thanks, but credit goes to Bo. Intraday signalled entries, exits spoke for themselves and I (gratefully) slept through the chop.
LOL! I fell sleep through some of that terrible ping pong action that seemed to last forever, I'm just glad I caught some pips on its final way down and then I ran...
  • #5,536
  • Aug 28, 2008 10:45pm Aug 28, 2008 10:45pm
hey bo and shermenator what is expected for today... i am confused so i will stay away the whole day....currently price is in my intraday level fibs...what i guess is that price will go up today but its only a guess... i also notice there are signs that the price can go down... so i would to know your analysis for today....i would not want to be caught in making the wrong decision.... any way
  • #5,537
  • Aug 28, 2008 10:59pm Aug 28, 2008 10:59pm
Quoting xscamx
hey bo and shermenator what is expected for today... i am confused so i will stay away the whole day....currently price is in my intraday level fibs...what i guess is that price will go up today but its only a guess... i also notice there are signs that the price can go down... so i would to know your analysis for today....i would not want to be caught in making the wrong decision.... any way
As it stands now we would be looking to short price from the Intraday levels, In the event we get a break of the Intraday levels (long) we only want to treat it as a scalp if you go long, since a break here is unsupported, and the more price continues down in a trending move like this the more resistance builds above it.
  • #5,538
  • Aug 28, 2008 11:04pm Aug 28, 2008 11:04pm
Quoting xscamx
hey bo and shermenator what is expected for today... i am confused so i will stay away the whole day....currently price is in my intraday level fibs...what i guess is that price will go up today but its only a guess... i also notice there are signs that the price can go down... so i would to know your analysis for today....i would not want to be caught in making the wrong decision.... any way

This is what I see...

Every day our waves are getting smaller...shows weakness in direction...also everyday we are getting even farther from hitting our intrady target...we have already made a deep retracement todays....the buyers kicking a bitt..watch price today...and try to get in at a later time today as close to franky so you get the best direction...

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  • #5,539
  • Aug 28, 2008 11:32pm Aug 28, 2008 11:32pm
Agree with both Bo and Sherm. If it breaks Short, jump on it, but the shorts have not been reaching their targets completely, so don't expect a huge movement. If it goes Long, treat it as a scalp since there are mounds of resistance above price.

XSCAMX: don't guess where the price is going to go today. Let the price show you. Guessing is for people who want to lose money. Once you start to guess, you are going to build a bias, and since you want it to go long, you might enter a long trade that doesn't follow your trading plan. We can only use the fib levels to tell us where support and resistance is going to lie.
  • #5,540
  • Aug 28, 2008 11:38pm Aug 28, 2008 11:38pm
Decided to trade the larger time frames today...I am up 40 pips on usd/jpy

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