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  • #69,321
  • Feb 25, 2009 10:50pm Feb 25, 2009 10:50pm
try to put a hard stop on your trade or exit when u have lost certain percentage of your equity. You should have a trading plan before entering trade. I just closed my short now waiting to go long. Nice pin bar forming at 1hr tf.
  • #69,322
  • Feb 25, 2009 10:50pm Feb 25, 2009 10:50pm
How do you get over the feeling of a lose....?
i will cry until i sleep... jejejejejeje ... learn from your mistakes.
Liz
  • #69,323
  • Feb 25, 2009 10:51pm Feb 25, 2009 10:51pm
Quoting Lizeth_doll
How do you get over the feeling of a lose....?
i will cry until i sleep... jejejejejeje ... learn from your mistakes.
You cry yourself to sleep too? If you drink, we can get drunk and cry together!
Not all sins are created equal
  • #69,324
  • Feb 25, 2009 10:55pm Feb 25, 2009 10:55pm
Quoting Jay Walker
I recommend that you read "Trading in the Zone" by Mark Douglas. Worth every penny.
Absolutely second the motion!!!! A MUST read for anyone trading!!!!
Pip what you see; See what you pip!
  • #69,325
  • Feb 25, 2009 10:55pm Feb 25, 2009 10:55pm
Quoting Jay Walker
First I start with a large bottle of Belvedere vodka and some cranberry juice. I drink myself silly and cry myself to sleep...

Okay I was joking.

Seriously, losing pisses me off just as much as it does someone else. You just have to set up your rule and stick by it. It's harder to do at the beginning and to some, it's a constant learning curve.

So a strict set of rules. Whatever it is you decide, you have to stick to it. It gets easier over time.

Another one is Money Management. No matter the setup, there's always a possibility to be wrong....
Well when I started it was easy to close a loser ..but the bigger my account gets the harder it seem I increase my trade sizes with every $1000 I make....last week I started at $4600 ...tradeing at 50k ... nowI am am at $8000 tradeing at 80k .. I know it still about the same % just looks like more but it seems like so much money dont want to lose it....abother example is I look over at my oanda account that I started with $19.86 it is now up to $266.57 when I take a 3k trade I have no problem closeing that $3-6 lose... but with the other account I will lose so much more $80-160...thats what killed me before I went from $1000 and build it to $16000.00 in 2 and a half month and took alot of trades to get it up there but only like 5 to kill it as I watch it go to nothing just could not bring my self to close it .. and now I am
feeling the same way not sure if I can close a big lose though I coudl but now that it is getting to be a bigger account again .. not sure if I can ..any suggestions..??
If you need something important don't hesitate to ask someone else.....
  • #69,326
  • Feb 25, 2009 10:58pm Feb 25, 2009 10:58pm
When I start the week I think holy crap I did good last week how am I going to do that again this week to make the pips .. I dont see anything to trade and then it is just there and I go all week tillI am done for the week again and can;t seem to find out where I ever found the trades if that makes any sence..
If you need something important don't hesitate to ask someone else.....
  • #69,327
  • Feb 25, 2009 11:03pm Feb 25, 2009 11:03pm
What ends up happening when I get stuck in a trade is it goes down and I try to hedge it to stop the lose and then I end up getting out of the hedge at the worng time and then it goes against me again .. and soon ther eis nothign left to hedge and I am done ..


give it to me stright doc I can take it .....
If you need something important don't hesitate to ask someone else.....
  • #69,328
  • Feb 25, 2009 11:03pm Feb 25, 2009 11:03pm
Quoting cdrmaster
Well when I started it was easy to close a loser ..but the bigger my account gets the harder it seem I increase my trade sizes with every $1000 I make....last week I started at $4600 ...tradeing at 50k ... nowI am am at $8000 tradeing at 80k .. I know it still about the same % just looks like more but it seems like so much money dont want to lose it....abother example is I look over at my oanda account that I started with $19.86 it is now up to $266.57 when I take a 3k trade I have no problem closeing that $3-6 lose... but with the other account...
Maybe trade smaller lots if that's what you're more comfortable with. And gradually introduce larger amounts.
Not all sins are created equal
  • #69,329
  • Feb 25, 2009 11:10pm Feb 25, 2009 11:10pm
Quoting cdrmaster
What ends up happening when I get stuck in a trade is it goes down and I try to hedge it to stop the lose and then I end up getting out of the hedge at the worng time and then it goes against me again .. and soon ther eis nothign left to hedge and I am done ..


give it to me stright doc I can take it .....
Don't hedge. If you f@#k up, close your trade. I think it's Jacko who's got a good anti-hedge method. Research it.

I get in bad trades too. I got my stop loss set and it gets hit. Then I just move on.

The nice part is that the market does nothing personal. The market doesn't go against you because it's pissed off at you or because it doesn't love you. I also remember that the market is not after me and most important of all...it has no memory.

The market doesn't remember if it made you a million dollars or if it took away your kid's college fund yesterday. So close your trade and move on.
Not all sins are created equal
  • #69,330
  • Feb 25, 2009 11:12pm Feb 25, 2009 11:12pm
Anyways, anyone trading that weird Europe currency around here? Looks like I'll be out until next week as it's really flat right now.
Not all sins are created equal
  • #69,331
  • Feb 25, 2009 11:16pm Feb 25, 2009 11:16pm
Again, EurUsd on 5M, has me thinking we might FINALLY see a squeeze that goes somewhere. They keep failing, or moving little up to now. The longer this persists, the closer we are getting to a bona fide breakout....one way or the other. Only time will tell, but this is getting boring. If this does move, by this time I am much tempted to cover my position ASAP. Of course, if I do, then surely this will turn out to be the much awaited run that I exited too early......
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  • #69,332
  • Feb 25, 2009 11:19pm Feb 25, 2009 11:19pm
Is that hammer on the EU/US 1H chart a strong indication of an uptrend?
  • #69,333
  • Feb 25, 2009 11:25pm Feb 25, 2009 11:25pm
Quoting traderathome
Again, EurUsd on 5M, has me thinking we might FINALLY see a squeeze that goes somewhere. They keep failing, or moving little up to now. The longer this persists, the closer we are getting to a bona fide breakout....one way or the other. Only time will tell, but this is getting boring. If this does move, by this time I am much tempted to cover my position ASAP. Of course, if I do, then surely this will turn out to be the much awaited run that I exited too early......
I might go for a quick downtrend dip but we'll see. I don't like how the hourly chart has been flatlining.
Not all sins are created equal
  • #69,334
  • Feb 25, 2009 11:26pm Feb 25, 2009 11:26pm
Just added in at 1.2728, for a further down. (I hope).

Good Trading.
Good Trading. (keep it simple).
  • #69,335
  • Feb 25, 2009 11:27pm Feb 25, 2009 11:27pm
Quoting perrier
Is that hammer on the EU/US 1H chart a strong indication of an uptrend?
It could be.

If there's a continuation of a downtrend, it will last only so long. I may not enter that.

But if an uptrend starts, I'm in for sure as it might be one hell of a ride.
Not all sins are created equal
  • #69,336
  • Feb 25, 2009 11:42pm Feb 25, 2009 11:42pm
Quoting Jay Walker
It could be.

If there's a continuation of a downtrend, it will last only so long. I may not enter that.

But if an uptrend starts, I'm in for sure as it might be one hell of a ride.
Thanks for the advice!

Managed to push in a hedge for it.
  • #69,337
  • Feb 25, 2009 11:44pm Feb 25, 2009 11:44pm
You're welcome. But my opinion is no advice. It's just my opinion.
Not all sins are created equal
  • #69,338
  • Feb 25, 2009 11:50pm Feb 25, 2009 11:50pm
today was not a lot of movement.
Good for me as I had been busy at work, but it looks like the movement is going to come soon. Will be a big move for sure.
Side lined for now.
good trading everyone
Trade on your own risk Plan your trade&trade your plan dont be a
  • #69,339
  • Feb 25, 2009 11:53pm Feb 25, 2009 11:53pm
I'm going to keep a small short position while slowing building a large long position as price drops. I see a high upside potential with more probably of a strong move north eventually. Sure it can go quite a bit south for quite a while but at the point we're at (testing lows) it's a great place to slowly start building your long position. (Note the word "slowly")
  • #69,340
  • Feb 25, 2009 11:54pm Feb 25, 2009 11:54pm
Quoting Trading Cat
today was not a lot of movement.
Good for me as I had been busy at work, but it looks like the movement is going to come soon. Will be a big move for sure.
Side lined for now.
good trading everyone
Wish it would hurry up and go one way or the other....else I'm going to crack open this Tequila!
Doing what you like is Freedom. Liking what you do is Happiness.
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