Learning from ours errors! | Forex Factory

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Learning from ours errors!

  • #1
  • First Post: Edited 7:31am Nov 9, 2009 7:17am | Edited 7:31am
I think that may share ours errors can help us to lenrning from.

Example this morning I made a stupid error, I am entered to scalp EU and GU on cuntra trend at high, 1.4980 and 1.6785, saw some sell , and when i made some good pips, I don't close the positions after little sideway, don't thinking that the EU news, Sentix Investor Confidence, could be boost up again in a big buy trend day, where there aren't other big news...
Damn.. and so I lost the 3% and I was making before....

Lubo.
If I know how, I tell You!! Few but Good!!
  • #2
  • Nov 9, 2009 7:43am Nov 9, 2009 7:43am
Quoting LuboLabo
I think that may share ours errors can help us to lenrning from.

Example this morning I made a stupid error, I am entered to scalp EU and GU on cuntra trend at high, 1.4980 and 1.6785, saw some sell , and when i made some good pips, I don't close the positions after little sideway, don't thinking that the EU news, Sentix Investor Confidence, could be boost up again in a big buy trend day, where there aren't other big news...
Damn.. and so I lost the 3% and I was making before....

Lubo.
hi lubo,
unlucky on the 3%, but there are still plenty of opportunities available . one thing you should take note of: http://www.mataf.net/en/tools/correlation-table. if you look at that site, the 1H correlation between EU and GU is 90.1%, so you've effectively almost made the same trade twice.

good luck in the future,
adam
  • #3
  • Nov 9, 2009 7:48am Nov 9, 2009 7:48am
it depends whats your strategy if to trade from fundamental or technical, you know technical traders barely look at news releases, so .
I think it s good to be aware of the big economic data
  • #4
  • Nov 9, 2009 7:53am Nov 9, 2009 7:53am
Quoting ABoulfoul
hi lubo,
unlucky on the 3%, but there are still plenty of opportunities available . one thing you should take note of: http://www.mataf.net/en/tools/correlation-table. if you look at that site, the 1H correlation between EU and GU is 90.1%, so you've effectively almost made the same trade twice.

good luck in the future,
adam
I know there are plenty of opportunities... I have my strategy....
If I know how, I tell You!! Few but Good!!
  • #5
  • Nov 9, 2009 7:55am Nov 9, 2009 7:55am
Quoting Tomo1
it depends whats your strategy if to trade from fundamental or technical, you know technical traders barely look at news releases, so .
I think it s good to be aware of the big economic data

Is not the strategy the point, I want only share some erroneus trading and though....

Lubo.
If I know how, I tell You!! Few but Good!!
  • #6
  • Nov 9, 2009 8:46am Nov 9, 2009 8:46am
Quoting ABoulfoul
hi lubo,
unlucky on the 3%, but there are still plenty of opportunities available . one thing you should take note of: http://www.mataf.net/en/tools/correlation-table. if you look at that site, the 1H correlation between EU and GU is 90.1%, so you've effectively almost made the same trade twice.

good luck in the future,
adam


that correlation means nothing.

look at the chart right now if you will.

eur just made a new high while gbp made that several hours ago.

correlation and scalping (or short term trading) do not go together. It`ll just mess your head.


talking about errors. I made one last week due to boredom. I just wanted to enter the market and let it ride and ride against me (silly me thought that scaling in blindly would me a profit )...oh well...moving on to the next opportunity.
  • #7
  • Last Post: Nov 9, 2009 8:54am Nov 9, 2009 8:54am
Quoting lumesh
......


talking about errors. I made one last week due to boredom. I just wanted to enter the market and let it ride and ride against me (silly me thought that scaling in blindly would me a profit )...oh well...moving on to the next opportunity........
You are not alone... the boredom is the best for making good wrong trade...
If I know how, I tell You!! Few but Good!!
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