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  • #31,141
  • Sep 17, 2008 6:56am Sep 17, 2008 6:56am
Quoting dougdude9
I hear ya. I know it take patience. It is just hard coming back from being in a whole. I think of it like a NFL team that starts the season 0-2. Kinda hard to get out of that. But if you would have started 2-0... it is alot easier.

I've had thoughts of getting out and saying bye bye to forex, but I recall having slumps in demo and also recall starting poorly in demo and then pulling it out. So, I'm in! Wish me luck on my ride!
In Forex you have to wait for the door to open.
Up or down, gimme a ticket
  • #31,142
  • Sep 17, 2008 6:57am Sep 17, 2008 6:57am
Quoting psiholog
specialed it has been a good day indeed...i just hope algirdas doesnt mess up road to 1.4450

Attachment

psiholog:

Your fibs are perfect. It just hit 23.6 and is retracing a little.

  • #31,143
  • Sep 17, 2008 6:57am Sep 17, 2008 6:57am
Quoting psiholog
if the NFL team started 2-0 they would get cocky and think they can beat everyone...thats when they get careless and make the biggest mistakes...forex mentality is very much the same way...it doesnt matter how you start out...no emotion is key

Very good point! I guess I should treat everyday as its own almost. Yesterday's trades are history. Nothing I can do about them now.
  • #31,144
  • Sep 17, 2008 6:58am Sep 17, 2008 6:58am
Quoting fx_lane
You couldn't be more right. have I ever complimented you beforehttp://forexfactory.com/images/icons/icon7.gif If I haven't then it goes, I think you have the techniques needed patience + dicipline + strategy which give you what? success.
I'm just a novice. The proof will be in the pips. I'm treating it just like a business. Don't want to throw away money, and there is always another good trade around the corner. Also busy learning from some really gifted traders on this thread.

Thanks again, fx_lane.
Up or down, gimme a ticket
  • #31,145
  • Sep 17, 2008 6:59am Sep 17, 2008 6:59am
Quoting dougdude9
I hear ya. I know it take patience. It is just hard coming back from being in a whole. I think of it like a NFL team that starts the season 0-2. Kinda hard to get out of that. But if you would have started 2-0... it is alot easier.

I've had thoughts of getting out and saying bye bye to forex, but I recall having slumps in demo and also recall starting poorly in demo and then pulling it out. So, I'm in! Wish me luck on my ride!
I think you started on the right track doug. Ask Ed I'
m sure he doesn't have a beautiful story to tell about how he started. you haven't blown your account yet and there are lot of traders who are here to help you learn the tricks. At least now you'll really respect the market, and plz do both you and I a favour don't fear the market just respect it. Don't be scared to take a well defined trade, just be diciplend and have patience
All the best things in life are free.
  • #31,146
  • Sep 17, 2008 7:00am Sep 17, 2008 7:00am
Quoting GreyGoose
psiholog:

Your fibs are perfect. It just hit 23.6 and is retracing a little.

thanks i try hehe...and as 5syfx mentioned...1.4235 is 61.8% from todays high to the move 1.182...if that gets broken...retest of the high is only natural
Different opinions highly valued, ignorant to slander.
  • #31,147
  • Sep 17, 2008 7:01am Sep 17, 2008 7:01am
Quoting fx_lane
Hang in there the bears haven't gained control yet you'll be on 214 again. Question is... once at 214 will you close your long?
maybe.....................maybe not.lets wait and see.............
  • #31,148
  • Sep 17, 2008 7:01am Sep 17, 2008 7:01am
Quoting SpecialEd
I'm just a novice. The proof will be in the pips. I'm treating it just like a business. Don't want to throw away money, and there is always another good trade around the corner. Also busy learning from some really gifted traders on this thread.

Thanks again, fx_lane.
well skopen. took me 2 yrs plus 2 blown accounts still make a lot of mistakes but surely make more greenie greenies than the red devilshttp://forexfactory.com/images/icons/icon7.gif
All the best things in life are free.
  • #31,149
  • Sep 17, 2008 7:02am Sep 17, 2008 7:02am
Quoting fx_lane
I think you started on the right track doug. Ask Ed I'
m sure he doesn't have a beautiful story to tell about how he started. you haven't blown your account yet and there are lot of traders who are here to help you learn the tricks. At least now you'll really respect the market, and plz do both you and I a favour don't fear the market just respect it. Don't be scared to take a well defined trade, just be diciplend and have patience
On 08/08/08, I shoulda gone to the Olympics.
Up or down, gimme a ticket
  • #31,150
  • Sep 17, 2008 7:03am Sep 17, 2008 7:03am
So What would be good disipline

Waiting the market to retract a bit and buy again?

That's what I'm looking for!

But if the Economic Data comes out positive for the US?

Should you wait, if it's bad, but off a pull back later?
Are you or are you OUT?
  • #31,151
  • Sep 17, 2008 7:05am Sep 17, 2008 7:05am
Quoting merouane
So What would be good disipline

Waiting the market to retract a bit and buy again?

That's what I'm looking for!

But if the Economic Data comes out positive for the US?

Should you wait, if it's bad, buy off a pull back later?

I meant Buy
Are you or are you OUT?
  • #31,152
  • Sep 17, 2008 7:08am Sep 17, 2008 7:08am
And to all the above difficulties you gotta add a broker platform that won't load. That's just great... :S
I think I'll have to let Oanda go later when I trade a large account. The slightly smaller spread is just not worth it if the platform can't load properly 10% of the time.
On the path to Enrichment.
  • #31,153
  • Sep 17, 2008 7:11am Sep 17, 2008 7:11am
Closed my long 1.4230 and locked 7%. The stoci's are not reflecting the move in the short term.

Was looking for a home run, but will hve to look for reentry for the next big leg.
  • #31,154
  • Sep 17, 2008 7:13am Sep 17, 2008 7:13am
I'm about ready to cry. I just screwed up and lost $150 on trade.
  • #31,155
  • Sep 17, 2008 7:14am Sep 17, 2008 7:14am
Quoting Jurrasic
And to all the above difficulties you gotta add a broker platform that won't load. That's just great... :S
I think I'll have to let Oanda go later when I trade a large account. The slightly smaller spread is just not worth it if the platform can't load properly 10% of the time.
Get a decent interbank broker. I love IB, especially the fact that they allow you to trade etf's and stocks too.
  • #31,156
  • Sep 17, 2008 7:14am Sep 17, 2008 7:14am
Quoting merouane
So What would be good disipline

Waiting the market to retract a bit and buy again?

That's what I'm looking for!

But if the Economic Data comes out positive for the US?

Should you wait, if it's bad, but off a pull back later?
you know I was looking at US data and was thinking I don't what any surprises....bad surprises.
  • #31,157
  • Sep 17, 2008 7:14am Sep 17, 2008 7:14am
Quoting dougdude9
I'm about ready to cry. I just screwed up and lost $150 on trade.
now ranging ..stay out..man

all is waiting for 8:30 news..

Sonic
  • #31,158
  • Sep 17, 2008 7:14am Sep 17, 2008 7:14am
Quoting merouane
So What would be good disipline

Waiting the market to retract a bit and buy again?

That's what I'm looking for!

But if the Economic Data comes out positive for the US?

Should you wait, if it's bad, but off a pull back later?

Good dicipline means, waiting till your startegy says in or out. It means good money management, means don't just act 'cause of a candle which all of a sudden moved up and you can't explaine it. strategy = plan. so Plan + MM (decipline) = success. If you over trade yourself then you are not deciplined. If you trade without a plan you are also not deciplined. If you lack patience I think I can put it there too.don't just trade because of small moves you see, they should be supported by your plan be you trade them.
All the best things in life are free.
  • #31,159
  • Sep 17, 2008 7:15am Sep 17, 2008 7:15am
here is probably why algirdas said it will break down soon...i refuse to believe so!...it will break up at 70!

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Different opinions highly valued, ignorant to slander.
  • #31,160
  • Sep 17, 2008 7:17am Sep 17, 2008 7:17am
Good luck! I am thinking 1.4180 possible to start piecing back in.
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