Just digging in the trenches like everyone else!
Cable Update (GBPUSD)
- #90,881
- Oct 9, 2008 3:07pm Oct 9, 2008 3:07pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
- #90,882
- Oct 9, 2008 3:09pm Oct 9, 2008 3:09pm
- Joined Jun 2008 | Status: Trader | 1,318 Posts
Please ask questions and share your experiences with us all!
- #90,886
- Oct 9, 2008 3:25pm Oct 9, 2008 3:25pm
- Joined Jun 2008 | Status: Trader | 1,318 Posts
Please ask questions and share your experiences with us all!
- #90,887
- Oct 9, 2008 3:27pm Oct 9, 2008 3:27pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Your stop loss needs to be more than that man or you will just be shark bait. If you entered this trade long stops need to be below 1.7000.
Why do folks enter trades with such a tight stop loss? YOu really will be shark bait
..price action seems kinda volatilei will never make it as a trader unless i stop exiting after 2-5 pips..i cannot believe the number of times i do this
- #90,888
- Oct 9, 2008 3:30pm Oct 9, 2008 3:30pm
- | Joined Jul 2007 | Status: Trader | 1,036 Posts
i enter long myself stop behind 30..it break that then i doubt it will stop, anyways i exited after 5 pips
- #90,889
- Oct 9, 2008 3:31pm Oct 9, 2008 3:31pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
just behind you bro at 073...should start to correct once NYC settles down
EDIT...There it goes. i'm +30 and setting SL to BE
who knows how Asia would handle this evening, yesterday they handled very differently as I entered with buy & 1.7287 and they had huge gap down but I survived and I made a very stupid error @ 9:00 pm I exited out the trade with 60 pips negative @1.7235 and in the same hour it reached up to 1.7324. I had my emotions involved at that time and initially after half an hour of my first trade from yesterday @1.7287 I was in 18 pips green but I let go and @ 9:00 pm with my emotions I stopped that trade with -60 pips.
What so far I learned and I am gonna include my manual journal 2 mistakes that I did yesterday so I will improve myself in the future. Also I swear myself that anytime I enter with any trade I would have Stop loss and yesterday's trade I take off my stop loss also and I didn't exit out with +18 pips....
So today I entered with this trade @1.7071 with Stop loss @ 1.7036 (35 pips) and got out @1.7097 aiming was for 1.7110....
So I also learned one more thing whatever you get just take it wouldn't shy otherwise you could be in trouble...... Ha Ha Ha Ha
- #90,891
- Oct 9, 2008 3:44pm Oct 9, 2008 3:44pm
- Joined Jun 2008 | Status: Trader | 1,318 Posts
Please ask questions and share your experiences with us all!
- #90,892
- Oct 9, 2008 3:50pm Oct 9, 2008 3:50pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
dAKRUSHA: i think this is being the time for this whole week that take and run.... I entered @ 1.7071 and exited out @ 1.7097 (26 pips) after having 3 lost trades since yesterday @ 3:00 pm central time.
who knows how Asia would handle this evening, yesterday they handled very differently as I entered with buy & 1.7287 and they had huge gap down but I survived and I made a very stupid error @ 9:00 pm I exited out the trade with 60 pips negative @1.7235 and in the same hour it reached up to 1.7324. I had my emotions involved at that time and initially after half an hour of my first trade from yesterday @1.7287 I was in 18 pips green but I let go and @ 9:00 pm with my emotions I stopped that trade with -60 pips.
What so far I learned and I am gonna include my manual journal 2 mistakes that I did yesterday so I will improve myself in the future. Also I swear myself that anytime I enter with any trade I would have Stop loss and yesterday's trade I take off my stop loss also and I didn't exit out with +18 pips....
So today I entered with this trade @1.7071 with Stop loss @ 1.7036 (35 pips) and got out @1.7097 aiming was for 1.7110....
So I also learned one more thing whatever you get just take it wouldn't shy otherwise you could be in trouble...... Ha Ha Ha Ha
if u enter 1.9700 and SL IS 1.9650 yur target better be 19750 if u exit early and do this a lot with other trades then eventaully the loss u inocurr will alway wipe out yur wins and u NEVER will be profitable
this is something i need to overcome cause i realise its my biggest weakness
- #90,896
- Oct 9, 2008 5:53pm Oct 9, 2008 5:53pm
- | Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
