nAVINs trading trading journey

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irst trade i placed today was because i thought we broke the bottom support appears to be a fakeout ....i got out because, i realised we made a higher low once it diped back out...

second trade i entered a buy countertrend when i thought the suuport would hold, lost my nerve after 4 pips and exited, the same trade now would have given 50+ pips

i shall try stick to my rules as i broke them already......lol

Quoting Naijafx

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well this can't be happening to you! you must be using hi teaching method to put newbies through trading without emotion

am not that gullible!

U are too experienced and good to fall into such ditch

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Quoting karmostaji

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Trade smaller lots and try to control your emotions, don't think about the money.

Trade higher TF's, they rule

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Quoting Chris_35

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Hi there nAVIN

If I worked your figures out correct you have a potential loss on your account as it stands of $440
.2 Lots 1.8298 Short and .2 Lots 1.8336 = .4 Lots average @ 1.8317 Short

.2 Lots 1.8394 Long and .2 Lots 1.8461 = .4 Lots average @ 1.8427 Long

1.8317 - 1.8427 = -110

Shortfall = .4 Lots @ -110 pips = -$440

From what I understand your debt will always be $440 even if you return to the prices that you made the trades at.

If anyone thinks that I am wrong with any of the above figures or details would they please correct me as I wouldn't want to give nAVIN a bum steer

Choice 1. as suggested by DJ4x forget about the the hedge because your equity remains the same, so get back to your trading without any worries and when you can cover the monies required exit both longs and shorts.

Choice 2 When your very sure that cable is going up (with the same strength that you have seen it come down over recent months) exit your shorts, wait till cable runs out of steam then re-enter your shorts to keep your longs protected. Do this 2 or 3 times and you will have made up the difference of your shortfall

Choice 3 Wait till cable goes back until zero equity on your shorts and exit short trade, hoping that there is enough momentum in the the move to take you back to your long entries and then exit those trades.

Choice 4 Leave it there till the day you leave this mortal earth then let them try to collect it then ha ha.

One other thing about your hedge nAVIN is to look at it in a more positive way, rather than keep thinking that its a burden think of it as an opportunity for you. As mentioned in Choice3 you can keep exiting and re-entering your shorts until that final push where for your last trade you can exit the shorts and go long if you think the time is right to make it back to 1.8461. There's over 400 pips there for you to make at the moment. As long as you always make sure if you do enter your shorts again make sure that its a hedged short, else as you know ,if not it will just cancel your longs out. YES bro you can do it

Good Luck sausage http://www.forexfactory.com/images/icons/icon14.gif Pips Away http://www.forexfactory.com/images/icons/icon7.gif

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Quoting ForexRookie

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Hey Nav,

Best of luck on your trading journey, i'll be sure to see you around on the Cable Thread and giving you any helpful advice.

Shashi.

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Quoting allserene

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I much prefer to short but i am being successfully tempted into longs every now and then

basically i am just contrary to any biggish moves and its working


lost $25k on my shares today while i was messing with forex

probably $45k if i include mutual funds

never mind eh?

been here before in the early 90's and the market turned on a sixpence and gave a profit of the same amount within 18 months

I am more worried about cash in the bank ! Wish I had bought cans of food and bog rolls instead of putting it in the bank

Looking at UK property and it is still sky high - £220k for a 2 bed apartment in a scruffy northern town ? I think the UK has a LONG way to go down -even after today

the euro and cable are acting like its a US problem - it will be theirs too within a week

you watch when AIG etc all dump their foreign assets and buy USD

We are talking SCORES OF TRILLIONS !!!!!

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Quoting nAVIN2007

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first trade i placed today was because i thought we broke the bottom support appears to be a fakeout ....i got out because, i realised we made a higher low once it diped back out...

second trade i entered a buy countertrend when i thought the suuport would hold, lost my nerve after 4 pips and exited, the same trade now would have given 50+ pips

i shall try stick to my rules as i broke them already......lol

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Quoting aSandman

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That is sooo me last few weeks. Many trades I took lost my never and exit only to watch it kick but my way. I cut back on position size so I don't care about the loss this week and its helping. I don't know if this is your deal or not either but sounds like it. Best of luck man!
Jason

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Quoting nAVIN2007

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thx bro maybe i need to do that, i think i just hate losing money, im trading 0.1 lot and thats the lowest i can go with my account..i jut have to grow some balls

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Quoting aSandman

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Man...I have done best when after I make the play, set the stop, then go do something else. Otherwise you talk your self out of it. I don't like to loose either but if we make only good trades, then the loss is the cost of doing business. Just overhead like paying the light bill. When I get pissed at myself is when I take some bs trade, just because I want to have something on. Keep at it man, you have helped me allready in that I see myself in you.

Jason

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