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  • #61
  • Sep 20, 2008 10:01am Sep 20, 2008 10:01am
i studyed the steve nison candles...hussin probably have a japanese author who probably have different patterns but no i dont rely on them completely, i might have to look into the jap authors thou..maybe different..

i wont be around at all whole week...and i think when i come back i will have less time to trade, gonna be pending order for me, i may have secured myself a mortgage..and need to work now paying the bills... definately will not be like i am now...i literally havent been working since april .lol

its hard life huh bro

im happy yur finding candles working maybe the jap author have different techinque
  • #62
  • Sep 21, 2008 6:05pm Sep 21, 2008 6:05pm
Well I don't know how different the jap guys are lol I thought all candle patterns were from the Japanese rice traders anyway?
No the thing is Nav I'm not sure I can totally rely on any one method just yet and if I see something work time and time again I want it to be another string to my bow if you know what I mean,but without taking on to much.
But I would say my main objective is to trade price action itself no indicator's and the candles fit my profile.

Hope you have a great week anyway Nav sometimes a break from the noise can do you the world of good

Laters




Quoting nAVIN2007
i studyed the steve nison candles...hussin probably have a japanese author who probably have different patterns but no i dont rely on them completely, i might have to look into the jap authors thou..maybe different..

i wont be around at all whole week...and i think when i come back i will have less time to trade, gonna be pending order for me, i may have secured myself a mortgage..and need to work now paying the bills... definately will not be like i am now...i literally havent been working since april .lol

its hard life huh bro

im happy yur finding candles working maybe the jap author have different techinque
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63
  • Sep 22, 2008 1:35am Sep 22, 2008 1:35am
Hey Nav, will miss you around this week and congratulations on the mortgage!
I would have to agree with Patrick, the no plan is bad. I'm still struggling with it, sometimes I enter and know after I hit 1:1 that there is a good chance that is all there is. At the other end of the extreme sometimes I enter and set stop loss. Then just leave it alone for a long time. I had two 40 to 1 trades doing that so far. The small time frames eat up an account because of the spread, but the moves are so clean its hard to leave them alone.

I took that usd/chf pin bones posted. I don't mean to clutter your thread Nav just I feel we are both in about the same place trading wise. In a post seeking light made last year on J16 he put " trying to find my center". I feel that is us. We have traded demo , we have traded live, spent many long hours practicing. I'm sure you have seen a lil bit of what works and a lot of what doesn't. The questions for each of us is what do we truly believe in and trade that. Looking forward to your continued journey !

Jason
May the fish in your stream of life always bite.
  • #64
  • Sep 26, 2008 7:00am Sep 26, 2008 7:00am
Hi there nAVIN. I wondered what had happened to you all week. Missed your input. Anyway the following is a post I made on the cable forum during the week and I must say that I agree with Bones re his trading habits. Oh by the way pleased to hear you got sorted with a mortgage.


http://www.forexfactory.com/images/icons/icon1.gif Up to the end of last week I had lost about 70%...

Posted 11 hr ago
Up to the end of last week I had lost about 70% of my fund, when my trading was relying quite heavily on techs. This week no techs, (only fibs) better mm and every days been a winner. Have regained 12.5% of original fund over the last four days, so now have 42.5% of fund, am feeling much happier...
Forum: Interactive Trading Thread: Cable Update (GBPUSD)

The 12.5% regained over 4 days (not even full days) represents a months repayment on a 100k mortgage. So pleased I changed most of my trading habits. Pay lots of attention to price moment and mm
  • #65
  • Sep 27, 2008 4:27am Sep 27, 2008 4:27am
Quoting Chris_35
Hi there nAVIN. I wondered what had happened to you all week. Missed your input. Anyway the following is a post I made on the cable forum during the week and I must say that I agree with Bones re his trading habits. Oh by the way pleased to hear you got sorted with a mortgage.


http://www.forexfactory.com/images/icons/icon1.gif Up to the end of last week I had lost about 70%...

Posted 11 hr ago
Up to the end of last week I had lost about 70% of my fund, when my trading was relying quite heavily on techs. This week no techs, (only fibs) better mm and every days been a winner. Have regained 12.5% of original fund over the last four days, so now have 42.5% of fund, am feeling much happier...
Forum: Interactive Trading Thread: Cable Update (GBPUSD)

The 12.5% regained over 4 days (not even full days) represents a months repayment on a 100k mortgage. So pleased I changed most of my trading habits. Pay lots of attention to price moment and mm

thats great bro been away for a week and the course was very good, i realised trading isnt about technicals thou it certainly help ..lol
Its about going with what u see always....dont have a expectation about where price is going, just go with it...but ofcourse there need to be a balance...anyways lets see what next week can bring us..

if we have expectation about where price goes then if cause anxienty for ourselves when it doesnt happen..and the idea is to relieve ourselves of this emotion so we can be more rational..we shall try
  • #66
  • Oct 22, 2008 11:39am Oct 22, 2008 11:39am
Hey Nav
Ive not been trading much the past few months what with food poising in Sept,and a work load you would not belive LOL

Oh yes and there was the whole lead up to the birth of my third child Alfie on Monday this week

Anyway im back now and am ready rock .
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67
  • Oct 22, 2008 12:59pm Oct 22, 2008 12:59pm
Quoting Bones
Hey Nav
Ive not been trading much the past few months what with food poising in Sept,and a work load you would not belive LOL

Oh yes and there was the whole lead up to the birth of my third child Alfie on Monday this week

Anyway im back now and am ready rock .
thats great news bro! welldone
Im sooo happy for u...i feel like i just gave birth ...
  • #68
  • Oct 22, 2008 2:11pm Oct 22, 2008 2:11pm
Quoting Bones
Hey Nav
Ive not been trading much the past few months what with food poising in Sept,and a work load you would not belive LOL

Oh yes and there was the whole lead up to the birth of my third child Alfie on Monday this week

Anyway im back now and am ready rock .
Congratulations man! Great looking family you have there

Best wishes,

Jason
May the fish in your stream of life always bite.
  • #69
  • Oct 22, 2008 2:41pm Oct 22, 2008 2:41pm
Thanks Nav
He was the second one in which he was born so fast I had to take the delivery myself at home the midwife turned up 15 after ,lol

I have been looking at Cable and I had that 100% projection over the weekend and low and behold it was hit in days.



Quoting nAVIN2007
thats great news bro! welldone
Im sooo happy for u...i feel like i just gave birth ...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #70
  • Oct 22, 2008 2:44pm Oct 22, 2008 2:44pm
Hey Thanks Jay
Really im over the moon





Quoting aSandman
Congratulations man! Great looking family you have there

Best wishes,

Jason
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #71
  • Edited 4:58pm Oct 23, 2008 4:44pm | Edited 4:58pm
Quoting Bones
Thanks Nav
He was the second one in which he was born so fast I had to take the delivery myself at home the midwife turned up 15 after ,lol

I have been looking at Cable and I had that 100% projection over the weekend and low and behold it was hit in days.
fantastic charts there buddy...

i finally exited the hedge.interest rate cuts meant i ended paying to much to keep the position open so i decided to cut the loss as my winning trade got eaten up in the swop fees..i really feel so much better

we have a broadening traingle and there appears to be speculation as to whether it may form a diamond....i do find it amazing that cable appear to be stoping around here....morning star on 4hr chart!!!

what will be interesting is to see if this baby can form a high around 1.9213 and sell this baby right down...50% retrace can work also
if it achieves this then we have a diamond in the making...in more ways than one!
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  • #72
  • Oct 23, 2008 4:50pm Oct 23, 2008 4:50pm
im still being stupid with my trades....in and out like a jack in the box but i guess i can only get better

the big losses were from exiting the hedge
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  • #73
  • Oct 24, 2008 3:36am Oct 24, 2008 3:36am
Well the diamond would have been nice Nav.
I brought off a 1 hour and 4 our pin yesterday, and we had the beginnings’ of a morning star on the daily by close. I thought hard about holding position but figured id wait for the break of the high, obviously very pleased this morning, although I was pretty convinced the candle would hold as there were a lot of such candles on other $ pairs .
When you look at the pin though and the proceeding candles to be a A grade I think we would need more of a slow
down in candle size to take seriously or a much longer nose on a good PPZ.
My lower channel trend line was always a weak one but I feel more comfortable having it as a possibility for some reason ,lol. Anyway I do believeit to be the correct speed just from what point.

The 5500 area is looking awfully close now.

Im glad you got rid of the hedge Nav.I think I told you before I used to hedge all the time but I have changed my views on this type of trading as If you have a real set up that you are comfortable with everything should be in place including a stop loss .
I do know it works for some but I would guess for most in the end it over complicate things.

Ha Ha it looks like we have missed another monster move.
Catch you later Bud.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #74
  • Oct 24, 2008 10:07am Oct 24, 2008 10:07am
Quoting Bones
Well the diamond would have been nice Nav.
I brought off a 1 hour and 4 our pin yesterday, and we had the beginnings’ of a morning star on the daily by close. I thought hard about holding position but figured id wait for the break of the high, obviously very pleased this morning, although I was pretty convinced the candle would hold as there were a lot of such candles on other $ pairs .
When you look at the pin though and the proceeding candles to be a A grade I think we would need more of a slow
down in candle size to take seriously or a much longer nose on a good PPZ.
My lower channel trend line was always a weak one but I feel more comfortable having it as a possibility for some reason ,lol. Anyway I do believeit to be the correct speed just from what point.

The 5500 area is looking awfully close now.

Im glad you got rid of the hedge Nav.I think I told you before I used to hedge all the time but I have changed my views on this type of trading as If you have a real set up that you are comfortable with everything should be in place including a stop loss .
I do know it works for some but I would guess for most in the end it over complicate things.

Ha Ha it looks like we have missed another monster move.
Catch you later Bud.

great analysis.....waiting for a break of the high was a good decision especially here...wow it really droped didnt it. the market scares the hell out of me, u need like 200+ pips to have a SL which means u have to have the target of 200+ at least and i cant stay in that long

one thing i do know my counter trend day are over i wont even go on retraces now....hepoefully next week we can catch a wave ...good weekend buddy
  • #75
  • Oct 24, 2008 10:31am Oct 24, 2008 10:31am
Well the only way to do it is to bisect the market in to smaller chunks, ,lol It went way over the 5500 mark,but im happy I have been mapping the bounce very well and we may just get a terrific daily candle if we can break the old support.
Yes see you next week or even over the weekend if you have any ideas ,ill keep a look out mate
Have a good one
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #76
  • Nov 22, 2008 6:40am Nov 22, 2008 6:40am
i havent updated my journal in quite a while.....after the hedge closing my account went down from 3k to 1.760k..i decided with these swings 40-500 pip moves...i cant trade 0.1

my risk is way to high....so i closed my account and opened one with alpari.co.uk where i can manage my risk trade 0.01 and get myself on track, confidence boost


been on it for 2 weeks....last week i entered a sell on a low and price and cable flew up...i closed at a loss of 400 pips and learned dont get carried away " i might be trading 0.01 lot and even this can give huge losses

this week i made back some of the most of the losses and manged to make my first 150 pips on live account....james16 grp material is helping me keep things simple

im happy scalping sort off.....and when i try and make huge pips it goes wrong.....but i appear to making progress slightly, thinking better and observing more stuff.....
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  • #77
  • Nov 22, 2008 6:56am Nov 22, 2008 6:56am
i should have updated my lines on a fresh chart and then perhaps the signal to exit may have been clear......but in my mind i was playing out a ABCD pattern...
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  • #78
  • Nov 26, 2008 2:22pm Nov 26, 2008 2:22pm
the last 2 days ive somehow become comfortable trading again..trying to hang on in there a bit more and it appears that ive gained some confidence..

yesterday i made over 100 pips and today simiiar...so there progress...thx god

lets hope it continues
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  • #79
  • Nov 26, 2008 11:03pm Nov 26, 2008 11:03pm
Good stuff, keep it up bro and trust in yourself
Trade what you see, not what you think.
  • #80
  • Nov 28, 2008 4:17am Nov 28, 2008 4:17am
Quoting karmostaji
Good stuff, keep it up bro and trust in yourself

thank u brother...
i realised only this week that at least if u have a small loss it recoverable....huge losses its very hard to comeback from

exampe a trade where u lose 30 pips....next trade u enter its highly possible that u can get more than 20 pips..

but if u enter a trade a lose 150 pips...its doubtfull the next trade u can make as much...and i suppose this is actually where people get doomed..

risk:reward management
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