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Cable Update (GBPUSD)

  • #104,861
  • Dec 5, 2008 3:45pm Dec 5, 2008 3:45pm
i agree with you its just that my emotions scream pull out when my head says stay in- my heart rate doubles (really) and i am so jumpy its not funny
this is on the 1 min/5min charts. i tried the 1hr and could not handle it because the 5/10 pip jumps were too emotionally demanding i could not handle it. i really need to get my emotions in line! How do you guys do it?
  • #104,862
  • Dec 5, 2008 3:47pm Dec 5, 2008 3:47pm
remember iceman in topgun well call me jellyman
  • #104,863
  • Dec 5, 2008 3:48pm Dec 5, 2008 3:48pm
Quoting behram
i agree with you its just that my emotions scream pull out when my head says stay in- my heart rate doubles (really) and i am so jumpy its not funny
this is on the 1 min/5min charts. i tried the 1hr and could not handle it because the 5/10 pip jumps were too emotionally demanding i could not handle it. i really need to get my emotions in line! How do you guys do it?
i feel the same but its better to set the trade and go out... then you come back and see either stop or profit... a small script if u want to tell it to set to BE at a certain level, u can make that automatic... thats all
When life gives you lemons, make lemonade
  • #104,864
  • Dec 5, 2008 3:49pm Dec 5, 2008 3:49pm
Quoting behram
i agree with you its just that my emotions scream pull out when my head says stay in- my heart rate doubles (really) and i am so jumpy its not funny
this is on the 1 min/5min charts. i tried the 1hr and could not handle it because the 5/10 pip jumps were too emotionally demanding i could not handle it. i really need to get my emotions in line! How do you guys do it?

man u are discribing exactly what i go through!!! i cant believe it i get 3 pips of profit and exit cause i physically cant handle the heart beat and panic from the trade, emotions just completely overpower me ...my twin brother
  • #104,865
  • Dec 5, 2008 3:50pm Dec 5, 2008 3:50pm
Quoting allserene
I am a big fan of Hugh Hendry (eclectica hedge fund) and he made the decision 18 months ago (or so) that interest rates would come down and banks would be scary.

His hedge fund is UP - i said UP by 40% this year !!!!

He went for US treasuries only

That wasnt done with charts although he is into chart history big style

So a long term correct analysis of fundamentals can pay off massively. If that analysis is used as...
I have a sneaking suspicion that the charts started telling the story to those that can read a chart correctly well in advance of any economic news event. Whatever the big players do shows up on the charts. You just need to know how to decipher it.
  • #104,866
  • Dec 5, 2008 3:54pm Dec 5, 2008 3:54pm
Quoting nAVIN2007
man u are discribing exactly what i go through!!! i cant believe it i get 3 pips of profit and exit cause i physically cant handle the heart beat and panic from the trade, emotions just completely overpower me ...my twin brother
ah man what we gonna do? i need the money!! i wonder if we will get "burnout" before the decade is done?
  • #104,867
  • Dec 5, 2008 3:55pm Dec 5, 2008 3:55pm
Quoting micho
i feel the same but its better to set the trade and go out... then you come back and see either stop or profit... a small script if u want to tell it to set to BE at a certain level, u can make that automatic... thats all
u do?
  • #104,868
  • Dec 5, 2008 3:57pm Dec 5, 2008 3:57pm
Quoting nAVIN2007
man u are discribing exactly what i go through!!! i cant believe it i get 3 pips of profit and exit cause i physically cant handle the heart beat and panic from the trade, emotions just completely overpower me ...my twin brother
boys after a week or so losing money I get the same emotions, but I have got into a trade or 2 when the drawdown kicks in my heartrate is through the roof and I think I've got to get out, but then I just do soe deep breathing and say to myself out loud let it breathe let it breathe and it brongs my heartrate down and then I can lock in the profit at say +1 then just watch the candles. Even if I get out too early I am now happy because I've nade pps and not lost them, I will build on this confidence and hopefully heartrate will be nearer normal in future. Got to love the sweaty palms
please DON'T copy my trades I am still learning
  • #104,869
  • Dec 5, 2008 3:58pm Dec 5, 2008 3:58pm
eureka
what we need is a drug that completely switches off the emotional side without causing drowsyness!!
  • #104,870
  • Dec 5, 2008 3:58pm Dec 5, 2008 3:58pm
Quoting behram
ah man what we gonna do? i need the money!! i wonder if we will get "burnout" before the decade is done?
i dont know but if yur anything like me .....u will enter 50 times get an average of 5-15 pips in and out and 1 loss because yur wrong and it will wipe u out....over and over..

trading larger time frames is more reliable but the drawdown can be 50 pips at times and if yur emotion dont allow u to stay in the trade to get at least 50 pips...that wont work either
  • #104,871
  • Dec 5, 2008 4:00pm Dec 5, 2008 4:00pm
ez cute avatar!
  • #104,872
  • Dec 5, 2008 4:02pm Dec 5, 2008 4:02pm
Quoting ezmystic
boys after a week or so losing money I get the same emotions, but I have got into a trade or 2 when the drawdown kicks in my heartrate is through the roof and I think I've got to get out, but then I just do soe deep breathing and say to myself out loud let it breathe let it breathe and it brongs my heartrate down and then I can lock in the profit at say +1 then just watch the candles....
looking like this is a common problem then..maybe we need relaxation pills or something, i might try and drink a few beers b4
  • #104,873
  • Dec 5, 2008 4:03pm Dec 5, 2008 4:03pm
Quoting nwsuccess
I have a sneaking suspicion that the charts started telling the story to those that can read a chart correctly well in advance of any economic news event. Whatever the big players do shows up on the charts. You just need to know how to decipher it.
I think you are right, when I was actually doing alright I didn't even take any noticeof news and just traded off the candles and would find out after the event that the news had taken place. I am now tryng to ignore news and just follow the charts again, I was much better at that.
please DON'T copy my trades I am still learning
  • #104,874
  • Dec 5, 2008 4:03pm Dec 5, 2008 4:03pm
Quoting nAVIN2007
trading larger time frames is more reliable but the drawdown can be 50 pips at times and if yur emotion dont allow u to stay in the trade to get at least 50 pips...that wont work either
so you hold em for 5 min or 15 min?
  • #104,875
  • Dec 5, 2008 4:05pm Dec 5, 2008 4:05pm
Happy Weekend all!
  • #104,876
  • Dec 5, 2008 4:05pm Dec 5, 2008 4:05pm
Quoting nwsuccess
I have a sneaking suspicion that the charts started telling the story to those that can read a chart correctly well in advance of any economic news event. Whatever the big players do shows up on the charts. You just need to know how to decipher it.
I agree..
Patience + Discipline - Greed = Success
  • #104,877
  • Dec 5, 2008 4:05pm Dec 5, 2008 4:05pm
Quoting behram
eureka
what we need is a drug that completely switches off the emotional side without causing drowsyness!!

try prozac , my wife used to be on this and she didn't like it because she said she felt no emotion at all, PERFECT for trading
please DON'T copy my trades I am still learning
  • #104,878
  • Dec 5, 2008 4:06pm Dec 5, 2008 4:06pm
Quoting nAVIN2007
i dont know but if yur anything like me .....u will enter 50 times get an average of 5-15 pips in and out and 1 loss because yur wrong and it will wipe u out....over and over..

trading larger time frames is more reliable but the drawdown can be 50 pips at times and if yur emotion dont allow u to stay in the trade to get at least 50 pips...that wont work either
Nav, in my opinion the way you are trading now with such small "ante" is a far better "practice" than the demo.

You just need to see past profit/loss. Just concentrate on picking the right setups according to your trading plan/style and manage the trade accordingly while in the trade. You don't have to be in a trade all the time. There are people in here who are always in a trade and are making profits but surely this has taken them a lot of time and money to master.

It's a step by step game, there are no shortcuts.

Wait for the price to come to your perfectly set trap!!!
  • #104,879
  • Dec 5, 2008 4:06pm Dec 5, 2008 4:06pm
hmm well there is always next week. thanks guys good to know im not the only jelly man and thanks for the tips i will try to use em next week. Its my eldest daughters last day of chemotherapy tomorrow yippee!!!
  • #104,880
  • Dec 5, 2008 4:07pm Dec 5, 2008 4:07pm
Quoting behram
ez cute avatar!
cheers bro, she's 10 weeks old monday and my wife had to dress her up for her 1st halloween
please DON'T copy my trades I am still learning
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