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  • #13,281
  • Oct 20, 2009 11:41am Oct 20, 2009 11:41am
Quoting booker66
nicely put .. obviously a man at ease with his trading .. a place i aspire to be but a long way from . thanks ..

nice one shiko .
I like that. Keep it simple and always use common sense. It takes years to get going, but then the puzzle starts making alot of sense.
  • #13,282
  • Oct 20, 2009 11:52am Oct 20, 2009 11:52am
Missed my trendline bounce entry by 2 pips.
I seem to be having a run of these at the moment.
Not sure if a 2nd revisit is as inspiring?
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  • #13,283
  • Oct 20, 2009 2:08pm Oct 20, 2009 2:08pm
I think from my personal experience so far that psychological factor is the most important part of successfully trading BRW method.
I would not even call it strategy.
What other think of this? I mean those who trade live.
  • #13,284
  • Oct 20, 2009 6:44pm Oct 20, 2009 6:44pm
Quoting shiko
I think from my personal experience so far that psychological factor is the most important part of successfully trading BRW method.
I would not even call it strategy.
What other think of this? I mean those who trade live.
Psychology plays a major role in trading, in general, not just for Sir BRV's method/strategy.
Psychology, i believe, accounts for 80-99% of trading. skill, only 1 - 20%. the ratio, imho, is trader-dependent.
  • #13,285
  • Oct 20, 2009 9:18pm Oct 20, 2009 9:18pm
We seem to be stalking the same threads SC

Agree with you on psychology btw.
Trading method is subset of psychological boundary.
If one does not know his own psychological boundaries, the trading method will not work for him.
One Mind, Any Market
  • #13,286
  • Oct 21, 2009 12:59am Oct 21, 2009 12:59am
Well, now psychology is in working. I am thinking of which level might hold to short G/U and G/J. News are coming soon. Yesterday's level that gave so nice pips looked too dangerous to enter after seeing big money going into pound.
resistance of 164.89 got violated and still holding. Hourly candle has not closed yet. price stalled around 150.20 which i believe is minor resistance. i am watching towards 150.43 but it looks like too close in case if current resistance is broken. second tier is 165.66. but news are in 30 minutes. would not want to be in trade at that time. so, staying out for the time being.
let's see where 1H candle will close.
  • #13,287
  • Oct 21, 2009 1:01am Oct 21, 2009 1:01am
it's just closed on S/R line. go figure now waiting for news push.
  • #13,288
  • Oct 21, 2009 3:00am Oct 21, 2009 3:00am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting supremeChaos
Psychology plays a major role in trading, in general, not just for Sir BRV's method/strategy.
Psychology, i believe, accounts for 80-99% of trading. skill, only 1 - 20%. the ratio, imho, is trader-dependent.
I totall agree, the psychology has to be right in order to become a consistant and successful trader, whoevers method or whatever system is being used otherwise...only one outcome!
Kean
  • #13,289
  • Oct 21, 2009 3:11am Oct 21, 2009 3:11am
Quoting kean
I totall agree, the psychology has to be right in order to become a consistant and successful trader, whoevers method or whatever system is being used otherwise...only one outcome!
Kean
If the method/system is not profitable on itself, then psichology, money management or whatever you name it, wont play a leading role here.
  • #13,290
  • Oct 21, 2009 3:41am Oct 21, 2009 3:41am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting belekas
If the method/system is not profitable on itself, then psichology, money management or whatever you name it, wont play a leading role here.
Yes, I think both are essential. However, learning a profitable system/method is something that anyone can do...having the correct mindset to trade it consistantly and profitable is the biggest hurdle. It is crucial to be in the right state of mind when trading opportunities are presented to us...IMHO.
Kean
  • #13,291
  • Oct 21, 2009 3:48am Oct 21, 2009 3:48am
Quoting kean
Yes, I think both are essential. However, learning a profitable system/method is something that anyone can do...having the correct mindset to trade it consistantly and profitable is the biggest hurdle. It is crucial to be in the right state of mind when trading opportunities are presented to us...IMHO.
Kean
Thats why you have to follow your rules. Only by doing that you have a chance to be like a mechanical robot machine, not talking about proper money management, that comes in the first place. Its a boring job but somebody got to do it.
  • #13,292
  • Oct 21, 2009 3:53am Oct 21, 2009 3:53am
Psychology is most important trading this method as there is no mechanical triggers or any other mechanistic rules. It all our discretion.
Taking position at some S/R against what seems like a running away train is not easy and especially decide when to trade and when not to trade.
  • #13,293
  • Oct 21, 2009 4:15am Oct 21, 2009 4:15am
Quoting shiko
Psychology is most important trading this method as there is no mechanical triggers or any other mechanistic rules. It all our discretion.
Taking position at some S/R against what seems like a running away train is not easy and especially decide when to trade and when not to trade.
Im not using BRVs method, just a few of his ideas incorporated into my own method. You always have a choice to participate in the market or not. Its completely up to you. Think and act.
  • #13,294
  • Oct 21, 2009 8:02am Oct 21, 2009 8:02am
potential short coming on gj?
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #13,295
  • Oct 21, 2009 8:26am Oct 21, 2009 8:26am
Quoting eaglestar
potential short coming on gj?
I like 152.15-152.30
  • #13,296
  • Oct 21, 2009 8:27am Oct 21, 2009 8:27am
Quoting eaglestar
potential short coming on gj?

I see G/J short at 152.30-152.37
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  • #13,297
  • Oct 21, 2009 8:30am Oct 21, 2009 8:30am
Quoting shiko
I see G/J short at 152.30-152.37
haha let's see!
  • #13,298
  • Oct 21, 2009 8:42am Oct 21, 2009 8:42am
Quoting kk007
haha let's see!
If we get there.
  • #13,299
  • Oct 21, 2009 8:46am Oct 21, 2009 8:46am
also I am waiting for G/U to get to 1.6662.
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  • #13,300
  • Oct 21, 2009 8:51am Oct 21, 2009 8:51am
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