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  • #2,541
  • May 13, 2010 10:31am May 13, 2010 10:31am
Yes, family 1st. Take care.

Quoting MJurban
men, this last days killed my confidence need to build it up again.
The lastz trade reached more then 20 pips and is still going up: i closed with 5.


tomorroh i celebrate the birthday of my mother in law, so no trading not even thinking about trading and allo that stuff

at least i am positive , day and week and the month so far, what more do you want ?

c u all next week
  • #2,542
  • May 13, 2010 10:40am May 13, 2010 10:40am
i start to watch more then just eurusd and usdchf, so i wonder why i missed this 2 trades,
1. audusd beatiful IB with 20 pips profit
2. eurgbp all you neeed , momentum divergence, IB

i was there , strange what happend?

so next week more concentration, more cool down and take it easy


so till next week
Attached Image (click to enlarge)
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  • #2,543
  • May 13, 2010 12:26pm May 13, 2010 12:26pm
Hi city,

Some nice trades today , and u seem to be glued to this thread altogether , every time i login u are there , hats off to ur commitment.

It is night in India , good night.

Hari.
  • #2,544
  • May 13, 2010 1:36pm May 13, 2010 1:36pm
Quoting Buildcity
Ha ha, the President speaks did make some noice to the market and now return to normal.

See you guys, I have to bring my 40 home. Still achieved my daily little target.


Happy trading.
City
Well done City, that's a nice result for the day. When I grow up I want to be just like you.

I must admit I'm struggling a bit. I'm picking the correct entries and should be doing quite well but I let too many decent trades turn back and stop me out B/E. This means I have very little in the bag when I do inevitably get it wrong.

I'm currently working on a maximum risk of 15 pips. If a see a nice entry bar but the stop is too large I enter a limit order to get me in if price retraces to within my risk limits. Today this has resulted in multiple trades with a 15 pip stop.

I've tried very hard today to hold out for a 1:2 return on my risk. This has given me targets of 28-30 pips. Ironically, the only time today that my targets would have been met (that massive GU/EJ fall) I got nervous and cut early . All the other times price got to 15-26 pips and turned back on me to take me out B/E.

The question is, what are you doing that I'm not? Is the max risk of 15 pips making my target unrealistic? Should I be trying to enter with smaller stops (and catching fewer moves) which will bring my target down to a more achievable 20-25 pips. Should I carry on with a max risk of 15 pips but take profits earlier?

So many questions. Hope you or Sho can offer some guidance.

Cheers,

Dave
  • #2,545
  • May 13, 2010 2:10pm May 13, 2010 2:10pm
Quoting Sutts
Well done City, that's a nice result for the day....

hi sutts,

i don't know your actual hitrate, but as you say, you get nice entries which then turn out be..maybe you consider to take profit earlier. i.e. 1:1 rrr. with your 15pip sl this should be achievable..or think about 1:1,5 so your hitrate can be a bit worse but all in all you should still be profitable..prerequisite is that you have to be more picky in your trades..

cheers!
  • #2,546
  • May 13, 2010 11:51pm May 13, 2010 11:51pm
Tell you what, I'm the administrator

Quoting sruthihari
Hi city,

Some nice trades today , and u seem to be glued to this thread altogether , every time i login u are there , hats off to ur commitment.

It is night in India , good night.

Hari.
  • #2,547
  • May 14, 2010 1:35am May 14, 2010 1:35am
i hope this isnt chasing the market?

Attached Image (click to enlarge)
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Stop killing our Oceans, Stop using single use plastics.
  • #2,548
  • May 14, 2010 1:49am May 14, 2010 1:49am
Quoting jakdan
i hope this isnt chasing the market?

Attachment
stopped out again,

i am going to start a new thread, it will be called:

if you want to make a fortune do the opposite of what i do

it will be in the commercial section within the week
Stop killing our Oceans, Stop using single use plastics.
  • #2,549
  • May 14, 2010 1:53am May 14, 2010 1:53am
Quoting jakdan
i hope this isnt chasing the market?

Attachment
I was tempted by it too, but it's an area of support from May 7th and 10th, so I skipped it.
  • #2,550
  • May 14, 2010 4:29am May 14, 2010 4:29am
Short after IB and PB, quite risky though because recent supports.

What do you think?

Peter
Attached Image
  • #2,551
  • May 14, 2010 4:41am May 14, 2010 4:41am
Quoting faithno
Short after IB and PB, quite risky though because recent supports.

What do you think?

Peter
enjoy the ride
Stop killing our Oceans, Stop using single use plastics.
  • #2,552
  • May 14, 2010 4:46am May 14, 2010 4:46am
Someone took this EJ beauty ?...dont know why but i havent seen it


How do you manage to "reset" your mind ? im positive for this week and i tend to talk myself out of trades because of this fact.
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Never whishing, always trading.
  • #2,553
  • May 14, 2010 4:48am May 14, 2010 4:48am
if you want to retire, buy E/G as much as you can afford, i have just sold
Attached Image (click to enlarge)
Click to Enlarge Name: gbch.gif2.gif Size: 34 KB
Stop killing our Oceans, Stop using single use plastics.
  • #2,554
  • May 14, 2010 4:52am May 14, 2010 4:52am

Attached Image (click to enlarge)
Click to Enlarge Name: usjp.gif Size: 36 KB
Stop killing our Oceans, Stop using single use plastics.
  • #2,555
  • May 14, 2010 5:03am May 14, 2010 5:03am
Quoting Sutts


I must admit I'm struggling a bit.
this is good atleast you have realised what you are doing.

Quote

I'm picking the correct entries and should be doing quite well but I let too many decent trades turn back and stop me out B/E. This means I have very little in the bag when I do inevitably get it wrong.
try not moving stop to break even.stick with 1:2.
Quote
I'm currently working on a maximum risk of 15 pips. If a see a nice entry bar but the stop is too large I enter a limit order to get me in if price retraces to within my risk limits. Today this has resulted in multiple trades with a 15 pip stop.
yes if risk doesnot permit pass the trade.
Quote

I've tried very hard today to hold out for a 1:2 return on my risk. This has given me targets of 28-30 pips. Ironically, the only time today that my targets would have been met (that massive GU/EJ fall) I got nervous and cut early . All the other times price got to 15-26 pips and turned back on me to take me out B/E.
if you think it doesnot reach, reduce your R:R ratio and see how it goes.
Quote
The question is, what are you doing that I'm not? Is the max risk of 15 pips making my target unrealistic? Should I be trying to enter with smaller stops (and catching fewer moves) which will bring my target down to a more achievable 20-25 pips. Should I carry on with a max risk of 15 pips but take profits earlier.
Dave
looks like you have a plan need to apply in trading and see your result.
do what works for you and change what does not.and you should not cut the winner when it comes.this is a must dont action.
post all your good and bad trades here with charts.i will have a look and will see what i can do .may be i can help you to build your style.
  • #2,556
  • May 14, 2010 5:27am May 14, 2010 5:27am
Hi all,

Late again to the party. No matter which pairs you play, there are perfect setups with Sho's most baisc method. Around 100 from EJ or 50 on EU!! I missed that all as I was at work

Dave,

Sho's setup is really great when the market like today. You know as a scapler like me, I can only thief a bit from the market bit by bit. So we better stick with Sho's way. Though, I still maintain my daily target today with 37p so far.

PS - I have to do it quick (the following trades) as my boss was around.
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  • #2,557
  • May 14, 2010 6:14am May 14, 2010 6:14am
Quoting trade price
this is good atleast you have realised what you are doing.


try not moving stop to break even.stick with 1:2.

yes if risk doesnot permit pass the trade.

if you think it doesnot reach, reduce your R:R ratio and see how it goes.
looks like you have a plan need to apply in trading and see your result.
do what works for you and change what does not.and you should not cut the winner when it comes.this is a must dont action.
post all your good and bad trades here with charts.i will have a look and will see what i can do .may be i can help you to build...

Appreciate the useful feedback Sho, I will get there in the end!

Here are all my trades from today. Would be good to know what you think of my approach and whether I could have avoided the losses. Would also be nice to know if I missed any entries.

Thanks

Dave
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ.GIF Size: 13 KB
Click to Enlarge Name: EU.GIF Size: 12 KB
Attached Image
  • #2,558
  • May 14, 2010 6:18am May 14, 2010 6:18am
Add 3 more aggressive trades: (dont follow)

Short EJ +11,
Short GU +8,
Long GU +7 (too quick, no picture)

Sometimes really want to know what's the real meaning of "when you are in, I'm out", that the statment Sho told us some days before)

Edit: not bad for my daily target, with +63 up to this moment, haha
Attached Images
  • #2,559
  • May 14, 2010 6:18am May 14, 2010 6:18am
Quoting Buildcity
Hi all,

Late again to the party. No matter which pairs you play, there are perfect setups with Sho's most baisc method. Around 100 from EJ or 50 on EU!! I missed that all as I was at work

Dave,

Sho's setup is really great when the market like today. You know as a scapler like me, I can only thief a bit from the market bit by bit. So we better stick with Sho's way. Though, I still maintain my daily target today with 37p so far.

PS - I have to do it quick (the following trades) as my boss was around.

You really are a thief City! - quick in and out seems to work very well for you. Maybe I'm being too greedy.

Cheers

Dave
  • #2,560
  • May 14, 2010 6:21am May 14, 2010 6:21am
Hi Trade Price, many thanks for helping everyone out on this thread, I am learning a lot from your teaching.

One question, how do you trail your stops? I have been trailing the stop behind the previous 5 min candle but often get stopped out and then prices goes further. Should I trail behind the 15 min candle instead? What do you recommend?

Thank you
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