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nAVINs trading trading journey

  • #81
  • Nov 28, 2008 4:58am Nov 28, 2008 4:58am
....
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  • #82
  • Nov 28, 2008 5:03am Nov 28, 2008 5:03am
progress for month..
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  • #83
  • Nov 29, 2008 1:02pm Nov 29, 2008 1:02pm
Quoting nAVIN2007
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
exactly - like when you own a share which goes down 50% - you need a 100% rise to get back to where you were...
  • #84
  • Nov 29, 2008 5:07pm Nov 29, 2008 5:07pm
Quoting allserene
exactly - like when you own a share which goes down 50% - you need a 100% rise to get back to where you were...
absolutely..gotta keep the losses small...but large even to give yourself a chance
  • #85
  • Dec 1, 2008 10:19am Dec 1, 2008 10:19am
Quoting nAVIN2007
absolutely..gotta keep the losses small...but large even to give yourself a chance


good luck navin

it looks like its bottoming out
I placed a long trade on GBP/USD as well. Came in at 1.486340 . Gonna stick it out. IT HAS TO TURN
  • #86
  • Dec 1, 2008 10:22am Dec 1, 2008 10:22am
Quoting privatansasa
good luck navin

it looks like its bottoming out
I placed a long trade on GBP/USD as well. Came in at 1.486340 . Gonna stick it out. IT HAS TO TURN
The question is, Do you have enough margin until it does?
Trade what you see, not what you think.
  • #87
  • Dec 1, 2008 10:31am Dec 1, 2008 10:31am
Quoting privatansasa
good luck navin

it looks like its bottoming out
I placed a long trade on GBP/USD as well. Came in at 1.486340 . Gonna stick it out. IT HAS TO TURN
bro that is very risky actually i think this trade is doomed...dailly will be bearish definately and it broke retrace law for uptrend movement...last chance was around 74% and it didnt even have a effect

also we just had a high placed in on large time frame...now its time to see a similiar low or even lower.....even lower is very likely...

trade what u see....theres a sell off...so find a place to sell into it..not buy..
  • #88
  • Dec 1, 2008 10:32am Dec 1, 2008 10:32am
Quoting nAVIN2007
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

Totally disagree with that last statement. Losing 150 pips is not hard to get it back. It takes patience though something most dont have. Holding a trade for 150+ takes time it doesnt happen in an hour or two most the time.

You know how i feel about 20-30 pips at a time its a waiste of time to me
  • #89
  • Dec 1, 2008 10:32am Dec 1, 2008 10:32am
Quoting karmostaji
The question is, Do you have enough margin until it does?
god help him
  • #90
  • Dec 1, 2008 10:33am Dec 1, 2008 10:33am
Quoting nAVIN2007
bro that is very risky actually i think this trade is doomed...dailly will be bearish definately and it broke retrace law for uptrend movement...last chance was around 74% and it didnt even have a effect

also we just had a high placed in on large time frame...now its time to see a similiar low or even lower.....even lower is very likely...

trade what u see....theres a sell off...so find a place to sell into it..not buy..


Might I add that i totally disagree with Navin on this statement as well. Looking for places to short down here is ludicrous. Keep trading to the longside my friend you are on the right path
  • #91
  • Dec 1, 2008 10:48am Dec 1, 2008 10:48am
i been trading like a crazy dude today...scalping and trading currencies i know nothing about gbp/jap scares the life out of me..

i realise that is one dangerous currency to try trade on small time frame..
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  • #92
  • Dec 1, 2008 11:33am Dec 1, 2008 11:33am
Quoting karmostaji
The question is, Do you have enough margin until it does?
I placed a stop at 1.4800 ...
Thats what I can take. But its not pretty so far
U think should be enough ... It certainly not resistance level
  • #93
  • Dec 1, 2008 11:37am Dec 1, 2008 11:37am
Quoting nAVIN2007
god help him
I dont think even he will! LOL
I m gonna erase my months profit...

thanks for the input

the trade is still going
  • #94
  • Dec 1, 2008 12:18pm Dec 1, 2008 12:18pm
Quoting privatansasa
good luck navin

it looks like its bottoming out
I placed a long trade on GBP/USD as well. Came in at 1.486340 . Gonna stick it out. IT HAS TO TURN
Around about a year ago it was and it didn't.

I don't think that way anymore (well, not too often) and if I did I think it's time I found a new source of income.
  • #95
  • Dec 1, 2008 12:24pm Dec 1, 2008 12:24pm
You guys are right
I closed the trade...
Actually i came out ahead +8 pips (god knows how)

There's no sign of any retrace that is strong enough to go against the trend

Thanks for yr advice (and if it goes up I'll still like you ! Lol
  • #96
  • Dec 1, 2008 12:27pm Dec 1, 2008 12:27pm
Quoting PeterFM
Around about a year ago it was and it didn't.

I don't think that way anymore (well, not too often) and if I did I think it's time I found a new source of income.

Peter , do you mean that you don't try to call bottoms anymore ?
  • #97
  • Dec 1, 2008 12:43pm Dec 1, 2008 12:43pm
Quoting privatansasa
Peter , do you mean that you don't try to call bottoms anymore ?
its hard enough to trade with the trend let alone finding a bottom..its like catching falling daggers

i hope this 4hr candle turns into a pin then u might have a chance to minimise damage...also checkout the j16 thread..that place is a gold mine
  • #98
  • Dec 1, 2008 12:45pm Dec 1, 2008 12:45pm
Quoting privatansasa
You guys are right
I closed the trade...
Actually i came out ahead +8 pips (god knows how)

There's no sign of any retrace that is strong enough to go against the trend

Thanks for yr advice (and if it goes up I'll still like you ! Lol
good i think
look for a signal to sell.....thats now what im planing to do, finding it is another story
  • #99
  • Dec 1, 2008 1:19pm Dec 1, 2008 1:19pm
Quoting nAVIN2007
good i think
look for a signal to sell.....thats now what im planing to do, finding it is another story
i write this then 20 minute i find myself in a long .....this trade may finish me off!
  • #100
  • Dec 1, 2008 2:04pm Dec 1, 2008 2:04pm
Quoting privatansasa
Peter , do you mean that you don't try to call bottoms anymore ?
I'll look for a reversal at a Support level and look to trade it up to the nearest Resistance and if it gets there I'm happy. If it doesn't and I get out with less than I had aimed for I'm happy. If it goes against me and I take a loss I'm happy.

How hard can trading be?
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