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Technical Analysis Fallacy

  • #13,501
  • Feb 12, 2010 4:46am Feb 12, 2010 4:46am
Quoting Fana
Yesterday i lost 20% of equity. I had 3 trades and closed them in -70pip, -100pip... Now i dont believe my eyes why i did it. I have in my rules to control risk and cut loses asap.
These are very hard lessons... The last was before 4month. The same as now...
? How to help my egoer to handle this scorpion??? Regards

God be praised, until this i had good profits, so this is only "very bad maneuver, which costs me 8% from start(new start after the first huge DD...)"
It happens ... yesterday due GBP sharp move I got loss for 8% too ( I have protective stop loss for unexpected sharp things ;-))... Got back 5% today need 3% to recover
it's o'k to win ...
  • #13,502
  • Feb 12, 2010 4:55am Feb 12, 2010 4:55am
guys losing double digits is not a good thing ... u shld try not to lose more than ur daily avg , good chances u r overleveraged , try 1:10 and see if u can make 1-2 % a day while maintaining equal loss limit....

defend when market is unfamiliar ... stay nimble ... dont throw basic concepts away , u ll just be gambling ur money away if u dont keep a good head ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #13,503
  • Feb 12, 2010 5:00am Feb 12, 2010 5:00am
Auxesis,

just saw your post. That sounds really bad... seeing the American dream drowning in its own blood of illusions could be devastating for those pursuing it. I hope things get better soon, I've always loved they way anything is possible in America.

Best
Stan
  • #13,504
  • Feb 12, 2010 5:32am Feb 12, 2010 5:32am
Quoting maheswara
guys losing double digits is not a good thing ... u shld try not to lose more than ur daily avg , good chances u r overleveraged , try 1:10 and see if u can make 1-2 % a day while maintaining equal loss limit....

defend when market is unfamiliar ... stay nimble ... dont throw basic concepts away , u ll just be gambling ur money away if u dont keep a good head ...
Thanks I know
when I keep leverage around 1:10 i can make 1-2% . But you know I'm greedy so I'm working on how to get 5-10% per day being overleveraged in attack sequence.
I get back yesterday losses . It is good ;-)
it's o'k to win ...
  • #13,505
  • Feb 12, 2010 5:48am Feb 12, 2010 5:48am
Quoting Setebos
Auxesis,

just saw your post. That sounds really bad... seeing the American dream drowning in its own blood of illusions could be devastating for those pursuing it. I hope things get better soon, I've always loved they way anything is possible in America.

Best
Stan
Stan,

We may be down, but never out.

regards,
  • #13,506
  • Feb 12, 2010 6:19am Feb 12, 2010 6:19am
Quoting zenseven
It happens ... yesterday due GBP sharp move I got loss for 8% too ( I have protective stop loss for unexpected sharp things ;-))... Got back 5% today need 3% to recover
Be very nimble. This is very big risk to want to get back your DD. I try not to take that mine back now, but solve how to controll the risk. Why i did such mistake again. If you will follow this scorpion you will probably bites the forex dust... See that i had 300USD profits in one week... And last 2days minus 400USD. I woke up from the "UNREAL". It is possible to have 2% per day. But with very VERY GOOD RISK CONTROL in mind!!! Regards
  • #13,507
  • Feb 12, 2010 6:49am Feb 12, 2010 6:49am
News blotter out about 30 mins ago, option barriers @ 3500 being targeted, Eastern Euro names have stepped in as buyers just ahead, offers lows 36's for downside pressure.

fwiw
  • #13,508
  • Feb 12, 2010 6:57am Feb 12, 2010 6:57am
Quoting auxesis
News blotter out about 30 mins ago, option barriers @ 3500 being targeted, Eastern Euro names have stepped in as buyers just ahead, offers lows 36's for downside pressure.

fwiw
Thx Auxesis.
  • #13,509
  • Feb 12, 2010 7:17am Feb 12, 2010 7:17am
Happy trading day everyone. Just checking in to see how everyone is doing. Fana, I was surprised to read of your loss, because I thought you were trading a demo account. Life can be full of expensive lessons, but you have willingly volunteered for this one and maybe you will not run out of money before you become a trader.

Lots going on now in the markets with the euro's status in grave doubt, not its survival, but certainly any talk of it becoming a reserve currency. It feels like it needs to retrace now. Will keep shorting it on all opportunites until it stops going that way. Same with the E/J, and the GBP.

GDP in Europe is less than expected, and China raises it reserve requirements, so world demand may be less than expected this year. In the past, nations often used war as the answer to their economic troubles, but that probably will not work this time.

US Retail Sales in 13 minutes. Time to focus.
  • #13,510
  • Feb 12, 2010 7:29am Feb 12, 2010 7:29am
Quoting auxesis
Stan,

We may be down, but never out.

regards,

wow auxesis. Epic statement there!.
  • #13,511
  • Feb 12, 2010 7:34am Feb 12, 2010 7:34am
Wow - I like News trading.
Cool vola with my lady USDJPY :-)
  • #13,512
  • Feb 12, 2010 7:47am Feb 12, 2010 7:47am
Quoting GEfx
Happy trading day everyone. Just checking in to see how everyone is doing. Fana, I was surprised to read of your loss, because I thought you were trading a demo account. Life can be full of expensive lessons, but you have willingly volunteered for this one and maybe you will not run out of money before you become a trader.

Lots going on now in the markets with the euro's status in grave doubt, not its survival, but certainly any talk of it becoming a reserve currency. It feels like it needs to retrace now. Will keep shorting it on all opportunites...
Hi GEfx. was doing good with demo, so i tried live... Now i dont know, when is the right time to try live... Many things for me to discover...
3moth i lived in profits (demo, after live...). And i acquired impression, that i am infallible. Good lesson for me.
  • #13,513
  • Feb 12, 2010 7:53am Feb 12, 2010 7:53am
Quoting auxesis
Stan,

We may be down, but never out.

regards,
It's what I love about you guys
  • #13,514
  • Feb 12, 2010 7:58am Feb 12, 2010 7:58am
although bias is down for weekly e/u, eyes are on 3586 area.
for the day my bias is up from 3586. eyes open.
a/u 8812
  • #13,515
  • Feb 12, 2010 7:59am Feb 12, 2010 7:59am
Quoting Setebos
It's what I love about you guys
I also hope, that the US will handle this situation. I pull for the America -
the leader of worlds freedom and power.
  • #13,516
  • Feb 12, 2010 8:25am Feb 12, 2010 8:25am
Quoting Fana
Yesterday i lost 20% of equity. I had 3 trades and closed them in -70pip, -100pip... Now i dont believe my eyes why i did it. I have in my rules to control risk and cut loses asap.
These are very hard lessons... The last was before 4month. The same as now...
? How to help my egoer to handle this scorpion??? Regards

God be praised, until this i had good profits, so this is only "very bad maneuver, which costs me 8% from start(new start after the first huge DD...)"
How do you do that when were suppose to have only icecream cones at risk while learning to be consistant?
Only when we consistantly make gains and we see were able to buy a gallon instead of a cone is when we increase.
remember mm.
  • #13,517
  • Feb 12, 2010 8:27am Feb 12, 2010 8:27am
eyes open u/j 89.87
  • #13,518
  • Feb 12, 2010 8:34am Feb 12, 2010 8:34am
Quoting lilpip
eyes open u/j 89.87
Hi lilpip,

have my eyes on USDJPY, but more on 8978 and 8956 ....
Very good trading session so far.
Hope everything is fine on your side too!

CU,
MaMood
  • #13,519
  • Feb 12, 2010 8:38am Feb 12, 2010 8:38am
Quoting lilpip
How do you do that when were suppose to have only icecream cones at risk while learning to be consistant?
Only when we consistantly make gains and we see were able to buy a gallon instead of a cone is when we increase.
remember mm.
Thank you Lilpip
  • #13,520
  • Feb 12, 2010 8:39am Feb 12, 2010 8:39am
Quoting MaMood
Hi lilpip,

have my eyes on USDJPY, but more on 8978 and 8956 ....
Very good trading session so far.
Hope everything is fine on your side too!

CU,
MaMood
its been a fun week.
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