DislikedGBP/USD - 1H -Long @ 1.5432
Now, + 60 pips and I'm still in trade.Ignored
- #12,647
- Apr 15, 2010 6:37am Apr 15, 2010 6:37am
The danger of having an open position over the weekend. If you had a stoploss somewhere between close and open - problems!!!! at opening time for you.
:Nightyhawk,
Do you know of any real brokers who offer guaranteed stops besides the spread betting companies who make their own markets? I would be interested to look into it further because in theory they would need to take out covering positions in the market to protect themselves so do they charge a premium for these?
I took it for granted that this was a service provided by non-ECN brokers who made back the money by charging higher spreads.
Look forward to your feedback on this one.
4x.
- #12,649
- Apr 15, 2010 6:58am Apr 15, 2010 6:58am
Hi everyone,
This is a great thread that has survived many twists and turns along the way to achieving nearly 900,000 visits
Like any family there have been and will be disagreements along the way however it is appreciated when people who are having a disagreement show their fellow family members some respect and do it via PM.
This thread only exists due to the cumulative donations of many people's time and expertise and we should all feel privileged to be part of it.
Let's keep our chin's up and keep focussed on the market. While it's currently a bit emotional and all over the place it will eventually resume it's trend in one direction or another and we will be waiting at the front of the line, armed to the teeth with our ichi arsenal waiting to pillage it
My Own Expensive Flat Market Education
When it is like this though try not to have an expensive education. I had one of these last year trying to make larger/longer term trades going into the Northern hemisphere summer period when the market goes flat and liquidity drops markedly.
The net result was losses around US12-13k but then I made a mistake! I decided to try and scalp my way back to regaining those lost trades by playing with my normal set of trading rules until the market started trending again. Next thing you know, having changed my rules and with nothing to compare my results against to help establish why trades were going wrong, I losing almost twice as much as I set out to regain.
This was a painful reminder in hindsight about how every trader can get ahead of themselves not matter how long they have been in the game.
I took the next few weeks to just watch the market and prepare myself for the rest of the year into December setting numerous short term trading goals across my calendar and going back to steadfastly following my own longer TF trading rules.
By the end of Nov I had not only reclaimed what I had lost but ended 2009 with solid gains and most importantly a the newly found discipline of being comfortable to sit out of the market for the short periods when it was flat.
I encourage everyone during this flat spot to sit down and share on this thread their own horror stories that they have had and also elaborate on any ways in which you changed your trading process in order to get back on track.
This is a great revisionary tool and provides great insight into how every individual's trading psychology is so important in order for us to win our battle with the market.
Look forward to hearing about the educations of anyone generous enough to share them.
Cheers,
4x.
This is a great thread that has survived many twists and turns along the way to achieving nearly 900,000 visits
Like any family there have been and will be disagreements along the way however it is appreciated when people who are having a disagreement show their fellow family members some respect and do it via PM.
This thread only exists due to the cumulative donations of many people's time and expertise and we should all feel privileged to be part of it.
Let's keep our chin's up and keep focussed on the market. While it's currently a bit emotional and all over the place it will eventually resume it's trend in one direction or another and we will be waiting at the front of the line, armed to the teeth with our ichi arsenal waiting to pillage it
My Own Expensive Flat Market Education
When it is like this though try not to have an expensive education. I had one of these last year trying to make larger/longer term trades going into the Northern hemisphere summer period when the market goes flat and liquidity drops markedly.
The net result was losses around US12-13k but then I made a mistake! I decided to try and scalp my way back to regaining those lost trades by playing with my normal set of trading rules until the market started trending again. Next thing you know, having changed my rules and with nothing to compare my results against to help establish why trades were going wrong, I losing almost twice as much as I set out to regain.
This was a painful reminder in hindsight about how every trader can get ahead of themselves not matter how long they have been in the game.
I took the next few weeks to just watch the market and prepare myself for the rest of the year into December setting numerous short term trading goals across my calendar and going back to steadfastly following my own longer TF trading rules.
By the end of Nov I had not only reclaimed what I had lost but ended 2009 with solid gains and most importantly a the newly found discipline of being comfortable to sit out of the market for the short periods when it was flat.
I encourage everyone during this flat spot to sit down and share on this thread their own horror stories that they have had and also elaborate on any ways in which you changed your trading process in order to get back on track.
This is a great revisionary tool and provides great insight into how every individual's trading psychology is so important in order for us to win our battle with the market.
Look forward to hearing about the educations of anyone generous enough to share them.
Cheers,
4x.
Nightyhawk,
Do you know of any real brokers who offer guaranteed stops besides the spread betting companies who make their own markets? I would be interested to look into it further because in theory they would need to take out covering positions in the market to protect themselves so do they charge a premium for these?
I took it for granted that this was a service provided by non-ECN brokers who made back the money by charging higher spreads.
Look forward to your feedback on this one.
4x.
- #12,651
- Edited 4:23pm Apr 15, 2010 7:06am | Edited 4:23pm
I thought i should do the right thing and leave this place since it wont be fair to some items who have been here longer than I..so this is my farewell, more green pips to you all( i mean real pips not textbook pips,thank you)
yooo big broooooo,brooooooo yoo big broooooosee image below how i made more than 3,000 pips using what you taught me and as you can see i always have your monitor in all my charts ...please continue to spread all your impunities and dont ever leave us but forget about that Fredfx guy, we need you more than ever...
The chart attached shows a fanciful scenario in which an unsuccessful investor is trying to create an elaborate trade - sounds like the unlucky fisherman having to make up stories to fill the void of lacking success.
Furthermore, if this fellow has only made 3000 pips over 2 years during a complete market collapse then it shows how ridiculous listening to this person's feedback is.
Dear me.
4x.
Hi everyone,
This is a great thread that has survived many twists and turns along the way to achieving nearly 900,000 visits
Like any family there have been and will be disagreements along the way however it is appreciated when people who are having a disagreement show their fellow family members some respect and do it via PM.
This thread only exists due to the cumulative donations of many people's time and expertise and we should all feel privileged to be part of it.
Let's keep our chin's up and keep focussed on the market. While...
