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  • #138,101
  • Sep 2, 2009 1:04pm Sep 2, 2009 1:04pm
Quoting major-major
Knuckledrag=

I have practiced on demo for almost 18 months, but for some reason every time enter a trade it goes against me. Now i would understand if it happened once or twice, maybe even 5 times. But this is becoming a pattern and I dont know if anyone else has noticed this. Maybe its my excuse for sucking at forex.
Could you let me know when you're doing what trade that I'll take the opposite side

Kidding aside, if anyone says it is easy to make consistent money they are lying flat out. You need to learn how to cut your losses quick and let the profitable trades run. Essentially it is the money management skill that really makes a big difference.

Also, it's been very fashionable and profitable to take position against the USD. Like the rest of the world is doing better than us. I personally think EUR is the most hyped currency (hungary, romania, estonia, latvia, bulgaria, slovania are doing all fantastic but who am I to stand against it
  • #138,102
  • Sep 2, 2009 1:07pm Sep 2, 2009 1:07pm
First of all...let me post this then I'll get to my next post. Good thing I type about 90 words per minute with pretty good accuracy!

Don't believe this next candle. Will it continue down? Perhaps, but there's some resistance at 4259 now!!!!
  • #138,103
  • Sep 2, 2009 1:07pm Sep 2, 2009 1:07pm
Quoting knuckledrag
Ok, that's a different problem. First- are you using indicators and if so on what time frame?

Second-are you trading the same market conditions and rules you demoed with?

Third- are you bailing out of good trades because you can't stand the draw down, only to see the damn thing turn back after your out?
1) I do use indicators. RSI, and CCI and I also use bollinger and pivots on mt4. Usually use 15 minutes and 1-4 hour charts.

2) Yeah i try to. i wait for confirmations and pullbacks and wait it out if the trend has passed me by.

3) Exactly!!!
  • #138,104
  • Sep 2, 2009 1:10pm Sep 2, 2009 1:10pm
All those who said to open opposite position. Tried that to see what would happen and i actually made a 60p profit. My dad thinks we should start doing that from now onwards!!!
  • #138,105
  • Sep 2, 2009 1:10pm Sep 2, 2009 1:10pm
Levent, regarding your above post...I agree with most of it. I deleted the parts that I don't agree with.

Quoting Levent
...........

Kidding aside, if anyone says it is easy to make consistent money they are lying flat out. You need to learn how to cut your losses quick ....... Essentially it is the money management skill that really makes a big difference.

Also, it's been very fashionable and profitable to take position against the USD. Like the rest of the world is doing better than us. I personally think EUR is the most hyped currency....
  • #138,106
  • Sep 2, 2009 1:11pm Sep 2, 2009 1:11pm
Quoting muralis
congratulations! You have a perfect system, just open all orders on the other side.
I like this suggestion as I do now-a-days , all trades in one side only . If to open both sides I diagnose myself as confusion & ultimately will loose my money .If my trading strategy/decision totally wrong I do revise & take the proper one seems perfect that is changing one to another. I give enough space in sl to move the market within & try follow money management as GulfCoastPip suggested.
Anyway whatever money management or lots or sl the entry to be revised with timing & the basis upon which done ,not like it to be correct all the time but should have a reason to enter.
Try again & again .
Thanks ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #138,107
  • Sep 2, 2009 1:11pm Sep 2, 2009 1:11pm
Quoting stillck
short at 1.4300
You're smoking crack!
  • #138,108
  • Sep 2, 2009 1:11pm Sep 2, 2009 1:11pm
a bullish candle is in the making on the daily chart. check that out
  • #138,109
  • Sep 2, 2009 1:12pm Sep 2, 2009 1:12pm
all absorbed so up to 434
----- Dragonfly out in the sun you know what I mean, don't you know
  • #138,110
  • Sep 2, 2009 1:17pm Sep 2, 2009 1:17pm
Quoting stillck
short at 1.4300
when?
  • #138,111
  • Sep 2, 2009 1:17pm Sep 2, 2009 1:17pm
Sell this piece of shit.

m
  • #138,112
  • Sep 2, 2009 1:17pm Sep 2, 2009 1:17pm
Good luck with that strategy!



Quoting major-major
All those who said to open opposite position. Tried that to see what would happen and i actually made a 60p profit. My dad thinks we should start doing that from now onwards!!!
  • #138,113
  • Sep 2, 2009 1:18pm Sep 2, 2009 1:18pm
Quoting acumen
Sell this piece of shit.

m
You are short biased? You think we are going south again from now on?
Close your eyes when you feel you are going under.
  • #138,114
  • Sep 2, 2009 1:22pm Sep 2, 2009 1:22pm
Hey guys I need some advice here
the only indicator that I'm using is pivot points all other still do not understand them very well; I'm doing pivots for daily and 4 hour pivots I have only traded on 5m. but I enter my trade base on the 4 hour pivots; like I say I was doing okay until yesterday when I did not use good money management and lost big.
any advice on what I'm doing.
thanks in advance
  • #138,115
  • Sep 2, 2009 1:23pm Sep 2, 2009 1:23pm
Do people use Hourly pivots here? I put on an indi and I see it always bounce of at PP or S2. (for this hour)
Close your eyes when you feel you are going under.
  • #138,116
  • Sep 2, 2009 1:23pm Sep 2, 2009 1:23pm
That message is only for us shit monkeys!

Quoting acumen
Sell this piece of shit.

m
  • #138,117
  • Sep 2, 2009 1:24pm Sep 2, 2009 1:24pm
Shorted EURUSD at 1.4290, the RSI touched resistance level at 70 and is reversing down. Lets see how it plays out.
  • #138,118
  • Sep 2, 2009 1:25pm Sep 2, 2009 1:25pm
Quoting acumen
Sell this piece of shit.

m
Depending on where the next candle or two or three starts....I have no idea where it's going. I'm not in a trade right now. Keep ya posted though

Acument trades on higher time frames than myself though...AND IS THE MASTER!
  • #138,119
  • Sep 2, 2009 1:29pm Sep 2, 2009 1:29pm
Quoting opufo1
Hey guys I need some advice here
the only indicator that I'm using is pivot points all other still do not understand them very well; I'm doing pivots for daily and 4 hour pivots I have only traded on 5m. but I enter my trade base on the 4 hour pivots; like I say I was doing okay until yesterday when I did not use good money management and lost big.
any advice on what I'm doing.
thanks in advance
What I find pretty important is: Draw a trendline or several on the Daily timeframe. Whenever you consider to do an entry make sure that trendline isn't too close. Also when range is squeezed, watch out a breakout is in the making.
Close your eyes when you feel you are going under.
  • #138,120
  • Sep 2, 2009 1:29pm Sep 2, 2009 1:29pm
Quoting major-major
1) I do use indicators. RSI, and CCI and I also use bollinger and pivots on mt4. Usually use 15 minutes and 1-4 hour charts.

2) Yeah i try to. i wait for confirmations and pullbacks and wait it out if the trend has passed me by.

3) Exactly!!!


Simplify what your doing. Read Acuman's pivot method if your going to day trade. Use him as a model to trade by. As for the getting scared (and yes that's what it is), you need to open your stop up. Use smaller lot sizes and don't get in a hurry to trade. If you can't go take a dump for fear over your trade your lot size is to large. Make sure your out around all news time.

Simplify and trade less. Accuman has the simplest way to day trade. I work during the NY market or I'd use it. If you lower your lot size and open your stop you'll see a marked improvemant.
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