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Weekly COT report Analysis + Trade Ideas

  • #1,601
  • Apr 9, 2010 10:27am Apr 9, 2010 10:27am
I know most of the traders are quite experienced here but I would like to put how bad my trading has turned for the past 2 weeks alone. I lost 50% of my equity - gave all the profit I made slowly and steadily.

Hopefully i will learn from it this time. If i do, it's a money well spent.

Reasons for failure - Greed, Fear, breaking my own rules, averaging the losing position, Hoping for something to happen BUT ignoring what IS happening, etc etc etc.

The chart is self explanatory. The shaded area was my target and I was comfortably above my target but a single bad trade and see where I am.

Just a timely reminder what can happen in this market if you are NOT disciplined.

Have a great weekend all...
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  • #1,602
  • Apr 9, 2010 10:28am Apr 9, 2010 10:28am
Quoting Tuner

I am in (the gold-rush) yes from 1159.5
only one position for me.. so let's see how far we can ride it down...
hope the daily doesn't close above 1160 , in that case this trade wont be that good
  • #1,603
  • Apr 9, 2010 10:29am Apr 9, 2010 10:29am
Quoting puks

Have a great weekend all...
You realized your mistake and admitted it. That's the mark of a great trader!

Have a great weekend.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,604
  • Apr 9, 2010 10:31am Apr 9, 2010 10:31am
Shahab, remind me to do the opposite of what I'm thinking next time!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,605
  • Apr 9, 2010 10:37am Apr 9, 2010 10:37am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting shahab8b
hope the daily doesn't close above 1160 , in that case this trade wont be that good
ya... shooted up a bit too much.. but think it will find the right direction now.. taking AUD with it maybe.
we will see
"Blue Horseshoe loves Anacott Steel!"
  • #1,606
  • Apr 9, 2010 10:39am Apr 9, 2010 10:39am
Quoting puks
I know most of the traders are quite experienced here...
well... helps to never trade a trend too late or too early, never know if it's really started or ended... but what helped me most is only enter trade after new york close, leave it for 24hr, and enter another trade next day, ect... not trading all the time
  • #1,607
  • Apr 9, 2010 10:40am Apr 9, 2010 10:40am
Quoting puks
I lost 50% of my equity - gave all the profit I made slowly and steadily.

Hopefully i will learn from it this time. If i do, it's a money well spent.
The market is not easy. I still find it hard after 5 years and I don't think I'll ever find it easy
Nothing worth having is easy.
  • #1,608
  • Apr 9, 2010 10:42am Apr 9, 2010 10:42am
Quoting Patience
The market is not easy. I still find it hard after 5 years and I don't think I'll ever find it easy
i thought it was all about being patient.... but then again, patience is a difficult thing to master
  • #1,609
  • Apr 9, 2010 10:42am Apr 9, 2010 10:42am
Quoting Tuner
ya... shooted up a bit too much.. but think it will find the right direction now.. taking AUD with it maybe.
we will see
no, it shouldn't be like that, there was no sell order there, I'll close at B/E or tiny profit
  • #1,610
  • Apr 9, 2010 10:46am Apr 9, 2010 10:46am
Quoting shahab8b
true, i hope he still holds his long A/U, that was a brilliant trade
I missed the entry last night by 3 pips so didn't enter. I got burnt in AUD so dont feel like trading that pair for now until my confidence is back...
  • #1,611
  • Apr 9, 2010 10:46am Apr 9, 2010 10:46am
Quoting Clouds
i thought it was all about being patient.... but then again, patience is a difficult thing to master
Patience (and pumping in of extra funds) were the only things that saved me and my account in my early days. The rest was luck because I couldn't trade to save myself. The longer I trade, the more respect I have for the market. If I had read what the statistics were with retail traders when I started trading, I doubt that I would have carried on.
Nothing worth having is easy.
  • #1,612
  • Apr 9, 2010 10:47am Apr 9, 2010 10:47am
e/u and a/u should come down now
  • #1,613
  • Apr 9, 2010 10:48am Apr 9, 2010 10:48am
Quoting Patience
Patience (and pumping in of extra funds) were the only things that saved me and my account in my early days. The rest was luck because I couldn't trade to save myself. The longer I trade, the more respect I have for the market. If I had read what the statistics were with retail traders when I started trading, I doubt that I would have carried on.
helps me trade little lots, wider stops, and longer-term, my accuracy is not great
  • #1,614
  • Apr 9, 2010 10:49am Apr 9, 2010 10:49am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting shahab8b
no, it shouldn't be like that, there was no sell order there, I'll close at B/E or tiny profit
you are right. PA doesn't look too good. struggled a lil bit at the entry-level but then went up. :o
daily R3 around 1165 did hold so far. so I will watch it closely..
"Blue Horseshoe loves Anacott Steel!"
  • #1,615
  • Apr 9, 2010 10:49am Apr 9, 2010 10:49am
Quoting puks
I missed the entry last night by 3 pips so didn't enter. I got burnt in AUD so dont feel like trading that pair for now until my confidence is back...

oh, I thought you are long A/U, I was happy thinking you made some pips today.sorry to hear that .but I'm sure you will take it back soon.
  • #1,616
  • Apr 9, 2010 10:54am Apr 9, 2010 10:54am
Quoting M.A.C.Doug
Im in at .9334 - SL 20 pips. I have R2 at .9336
it calms down a bit, today moves have been breathtaking so far
  • #1,617
  • Apr 9, 2010 10:55am Apr 9, 2010 10:55am
Quoting puks
I missed the entry last night by 3 pips so didn't enter. I got burnt in AUD so dont feel like trading that pair for now until my confidence is back...
I lost more of my account than you this last two weeks. I lost 5 months of hard earned gains also short AUD/USD. Nothing like placing a good, risk managed trade to bring your confidence back. You just got to get back on the horse
thanks for sharing, most posters on this forum only brag there winnings. Honesty is rare as the vast majority are losing but you get the impression everyone is a winner, you have done all who follow after you a big favor by admitting the reality and you in turn will benefit quickly from not running from the truth
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BTC Return This Year: na
  • #1,618
  • Apr 9, 2010 10:58am Apr 9, 2010 10:58am
Quoting Tuner
you are right. PA doesn't look too good. struggled a lil bit at the entry-level but then went up. :o
daily R3 around 1165 did hold so far. so I will watch it closely..
nothing went according to the plan, it was supposed to be a one touch trade not to give us a heart attack, I'll try to get ride of it
  • #1,619
  • Apr 9, 2010 10:58am Apr 9, 2010 10:58am
I have the same feeling for the pound. No matter how I traded this pair I always lost so I always keep a tight sl on it now. This week was stopped out twice. What a hate-hate relationship.
  • #1,620
  • Apr 9, 2010 11:02am Apr 9, 2010 11:02am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting shahab8b
nothing went according to the plan, it was supposed to be a one touch trade not to give us a heart attack, I'll try to get ride of it
considering to clear up for the weekend now. even with the gold-trade in the reds I'd be able to close some nice profits overall at the moment.
Think I will do so....
"Blue Horseshoe loves Anacott Steel!"
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