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nAVINs trading trading journey

  • #1
  • First Post: Edited 3:46am Aug 30, 2008 3:00am | Edited 3:46am
the journey begins .. 30/08/08

I have decided to have a journal for several reasons :
1) I post far to much crap and it should be in one place
2) My trading is going wrong and i need to think about my actions and setups and excute them
3) This can only help ...
4) I need to stick to a plan of excution...and not change once trade is in motion...
5) I have far to much emotion and find once in trade, i will like my trade wasnt thought out..
6) Others can learn from my mistakes and some good can come from my mistakes..
  • #2
  • Aug 30, 2008 3:16am Aug 30, 2008 3:16am
The mess im in :
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  • #3
  • Edited 3:48am Aug 30, 2008 3:31am | Edited 3:48am
reasoning for the long trades....it looks like im totally entering on chance and no confirmations......i plan to change this..
i hadged myself because of fear of losing money and possibily account....and figure this buys me time....another silly mistake..LOL

this leads to now make a decision to only look for trades with the current trend set by dailly and 4hr..the trend is definately down......and longing was just giving money to the market....
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  • #4
  • Aug 30, 2008 3:47am Aug 30, 2008 3:47am
All the best in your journey. Keep in mind, BOE may cut rates next week. If they do it will only give strength to cable downtrend. So if you don't feel good about your trades, get out sooner than later.

  • #5
  • Aug 30, 2008 3:50am Aug 30, 2008 3:50am
Quoting good
All the best in your journey. Keep in mind, BOE may cut rates next week. If they do it will only give strength to cable downtrend. So if you don't feel good about your trades, get out sooner than later.

thank u my friend...
  • #6
  • Edited 5:09am Aug 30, 2008 3:56am | Edited 5:09am
looking back on my buys....i can only think i was after a perfect entry.assuming a breakout.....my entries would have been perfect...my biggest problem i need to overcome is ......fear of losing money or accept the loss a trade can give....i will have to work on this...

As a golden rule i plan only to take trades with the current trend set by dailly and 4hr
  • #7
  • Aug 30, 2008 4:27am Aug 30, 2008 4:27am
with this hedge situation im at a loss as to what to do...drop the long would destroy my account as im in 0.4 short and the drawdown may kill me..

something like this playing out may serve me a opportunity to reduce my risk..
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  • #8
  • Aug 30, 2008 4:56am Aug 30, 2008 4:56am
All the best to you, nAVIN2007.
  • #9
  • Aug 30, 2008 5:11am Aug 30, 2008 5:11am
Quoting mattrader
All the best to you, nAVIN2007.
thx brother
  • #10
  • Edited 2:52pm Aug 30, 2008 7:09am | Edited 2:52pm
A trade i may possibly take next week depend on how i feel...will be on the AUD/USD.....ITS IN A DOWNTREND


i see it has retraced 61.8% of fib of fib swing (0.8810-0,8492), i might sell at 50% fibo line to projected target of 0.8406

stop loss perhps 30 pips of the 50% fib line.....
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  • #11
  • Aug 30, 2008 3:15pm Aug 30, 2008 3:15pm
Oh man I'm very excited for you Nav ,you have done the right thing.

All the best with this new beginning my friend
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #12
  • Aug 31, 2008 2:40am Aug 31, 2008 2:40am
Quoting Bones
Oh man I'm very excited for you Nav ,you have done the right thing.

All the best with this new beginning my friend
thank u brother...yes it can only help cant it!..actually i have found this usefull already.....
  • #13
  • Aug 31, 2008 10:02am Aug 31, 2008 10:02am
i decided today i wont look at a time frame to enter below 4hr...i shall only work from ..monthly, weekly, dailly and 4 hr... and wait for price to come to me....always going with the trend
  • #14
  • Aug 31, 2008 10:10am Aug 31, 2008 10:10am
i shall look for this trade on on eur....and wait for price to come to the confluence area, looking for a pin there or a formation to say movement is down...
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  • #15
  • Sep 2, 2008 3:13am Sep 2, 2008 3:13am
still currently hedged and confused about the market...it just looks like one way traffic...nothing evn wants to retrace..
  • #16
  • Sep 2, 2008 9:33pm Sep 2, 2008 9:33pm
Quoting nAVIN2007
still currently hedged and confused about the market...it just looks like one way traffic...nothing evn wants to retrace..
bro, I can't wait til you get out of your situation and can get back to trading and making money. Your a good trader, don't let this get you down on your abilities. All the best!
Just digging in the trenches like everyone else!
  • #17
  • Sep 4, 2008 3:02pm Sep 4, 2008 3:02pm
Quoting eohater
bro, I can't wait til you get out of your situation and can get back to trading and making money. Your a good trader, don't let this get you down on your abilities. All the best!
thx buddy...i cant wait either...i might have to drop it....i cant see a way out
  • #18
  • Sep 7, 2008 4:22am Sep 7, 2008 4:22am
last week i didnt place a single trade as the trends conitued, nothing retraced and i felt i didnt have the opportunity to get in...with the possibility of a huge drawdown...

gonna readf a bit and educate myself..
  • #19
  • Sep 9, 2008 1:45am Sep 9, 2008 1:45am
Hi nAV
Just a thought on your hedged position. The fact that it is hedged means that your equity remains the same regardless of how many positions you have entered.
So why don't you consider just ignoring it for the moment and concentrating on new entry points. You can always leave your hedge on until it reaches 00 or you can build up your equity with new entries and then close out your hedge when it wont blow your account. Am I understanding your dilemma or am I just confusing the issue more...
Good luck either way.
D
  • #20
  • Sep 10, 2008 12:07pm Sep 10, 2008 12:07pm
Quoting DJ4x
Hi nAV
Just a thought on your hedged position. The fact that it is hedged means that your equity remains the same regardless of how many positions you have entered.
So why don't you consider just ignoring it for the moment and concentrating on new entry points. You can always leave your hedge on until it reaches 00 or you can build up your equity with new entries and then close out your hedge when it wont blow your account. Am I understanding your dilemma or am I just confusing the issue more...
Good luck either way.
D
yur absolutely spot on....i started doing that today unfortunately i have started very well...
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