Deprive a man of everything and you give him nothing to lose.
- #12,744
- Aug 17, 2009 9:11am Aug 17, 2009 9:11am
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts
Can you post your charts - trades so we can see the entries?
today -20 pips in two traders
to cashmeer:tell please as you use pivot point(S&R)?thank you for answer!
Without vision, the people will perish.
- #12,750
- Edited 1:04pm Aug 17, 2009 12:32pm | Edited 1:04pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
Hi Folks
There have been a discussion on the 25% that makes the system and 75% relies on the trader (the percentage can change with the probability of a system).
There are some very important points on trading in general which I’d like to highlight with this post.
I’m a trader since more than 30 years (not FX) buying and selling whatever I thought it gives me a profit. I traded from lemons to multiple families houses.
Let’s say you bought a truckload of potatoes to satisfy a high, overpriced demand in your local market, you need to know what the competence is doing and when there are new potatoes with a regular price available to sell your remaining product before they arrive with a better price than you’ve paid. Also would be helpful to know how this temporal overpriced demand was created.
We could call these circumstances fundamentals.
It’s necessary to know about average prices during the seasons of the product you are trading.
We could call that technical.
You know that you need to sell your remaining product fast at be equal or maybe a little loss in case that the competence comes up with a cheaper product with the same or similar quality.
We can call that our Stop Loss.
The single most important mental point of trading is that you feel comfort with your decision when to buy and sell.
That let you sleep well during the period of your actual business and don’t lead you to panic buys or sells. You simply know what you are doing, you studied the risk and also put on your trading plan the possible reward, at the end you decide that you are fine with that biz.
In all business of the world you can win and lose, in case that the potatoe deal didn't work out look for another one, maybe there are 2 inch nails missing somewhere.
Have a great day all.
Add: a translater tells me that instead of competence I may use competition but important is that you know what I mean, lol.
There have been a discussion on the 25% that makes the system and 75% relies on the trader (the percentage can change with the probability of a system).
There are some very important points on trading in general which I’d like to highlight with this post.
I’m a trader since more than 30 years (not FX) buying and selling whatever I thought it gives me a profit. I traded from lemons to multiple families houses.
Let’s say you bought a truckload of potatoes to satisfy a high, overpriced demand in your local market, you need to know what the competence is doing and when there are new potatoes with a regular price available to sell your remaining product before they arrive with a better price than you’ve paid. Also would be helpful to know how this temporal overpriced demand was created.
We could call these circumstances fundamentals.
It’s necessary to know about average prices during the seasons of the product you are trading.
We could call that technical.
You know that you need to sell your remaining product fast at be equal or maybe a little loss in case that the competence comes up with a cheaper product with the same or similar quality.
We can call that our Stop Loss.
The single most important mental point of trading is that you feel comfort with your decision when to buy and sell.
That let you sleep well during the period of your actual business and don’t lead you to panic buys or sells. You simply know what you are doing, you studied the risk and also put on your trading plan the possible reward, at the end you decide that you are fine with that biz.
In all business of the world you can win and lose, in case that the potatoe deal didn't work out look for another one, maybe there are 2 inch nails missing somewhere.
Have a great day all.
Add: a translater tells me that instead of competence I may use competition but important is that you know what I mean, lol.
- #12,751
- Aug 17, 2009 2:11pm Aug 17, 2009 2:11pm
today -20 pips in two traders
to cashmeer:tell please as you use pivot point(S&R)?thank you for answer!
Anyhow, as Cobra mentioned, in his above post, opportunities never cease to knock...managed to earn most of it back...
Deprive a man of everything and you give him nothing to lose.
- #12,752
- Aug 17, 2009 3:02pm Aug 17, 2009 3:02pm
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts
- #12,753
- Aug 17, 2009 3:56pm Aug 17, 2009 3:56pm
Hi Folks
There have been a discussion on the 25% that makes the system and 75% relies on the trader (the percentage can change with the probability of a system).
There are some very important points on trading in general which I’d like to highlight with this post.
I’m a trader since more than 30 years (not FX) buying and selling whatever I thought it gives me a profit. I traded from lemons to multiple families houses.
[font=Arial]Let’s say you bought a truckload...
Can you imagine how spicy would be the post if you buy/sell chilli......
great post
- #12,754
- Edited 8:01pm Aug 17, 2009 7:49pm | Edited 8:01pm
This was quite funny...
These are the reasons I entered....
Chart 1:
On the analysis chart, it has the ICCE configured for Fibs, the RSI was majorly oversold at the bounce of 50%
Chart 2:
Weakness in the 1 hr and retest
Chart 3:
Divergence in the 5 min
Chart 4:
ICCE for take profits...all the way to 100%
70+ pips...
The funny thing is that that netted me about as much as I would have gained on 15 pips with my standard lot size !! LOL...but it was fun, and not so stressful...
ADD: I forgot to mention what I wanted to mention and that was the distance of the 1 hr pa from the Coral...that was a major reason for getting in the trade...the distance from the Coral, if looked at, was great. It cannot stay so far a way for so long...I won't post the chart becuase there are too many in this post, but y'all can take a look and see what I mean and that a T/L in the PA was also broken and retested before the move up...
These are the reasons I entered....
Chart 1:
On the analysis chart, it has the ICCE configured for Fibs, the RSI was majorly oversold at the bounce of 50%
Chart 2:
Weakness in the 1 hr and retest
Chart 3:
Divergence in the 5 min
Chart 4:
ICCE for take profits...all the way to 100%
70+ pips...
The funny thing is that that netted me about as much as I would have gained on 15 pips with my standard lot size !! LOL...but it was fun, and not so stressful...
ADD: I forgot to mention what I wanted to mention and that was the distance of the 1 hr pa from the Coral...that was a major reason for getting in the trade...the distance from the Coral, if looked at, was great. It cannot stay so far a way for so long...I won't post the chart becuase there are too many in this post, but y'all can take a look and see what I mean and that a T/L in the PA was also broken and retested before the move up...
Deprive a man of everything and you give him nothing to lose.
- #12,755
- Aug 17, 2009 11:32pm Aug 17, 2009 11:32pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Greetings All,
I have now read every post in this thread. From time to time my resolve wavered but being somewhat pedantic by nature I persevered. In that I learnt a great deal I have to say it was really worth it.......
Hi Folks
There have been a discussion on the 25% that makes the system and 75% relies on the trader...
Thanks!Part3?
This was quite funny...
These are the reasons I entered...........
u are using THV in 'overdrive'... woohooo!
- #12,758
- Aug 18, 2009 8:25am Aug 18, 2009 8:25am
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts
- #12,759
- Aug 18, 2009 8:30am Aug 18, 2009 8:30am
- Joined Jul 2008 | Status: #welcomebackGator | 2,418 Posts