Closing my 4 positions for 4 pips...starting to build a long
Cable Update (GBPUSD)
- #253,926
- Sep 17, 2010 5:15am Sep 17, 2010 5:15am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
First sensible post of the day, wait for the range to go instead of chasing the M1/M5 like most others do here today with disastrous consequences.
good to see u back!!
- #253,929
- Sep 17, 2010 5:18am Sep 17, 2010 5:18am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Why risk anticipating trying to figure out what 1,000's of others think and want when you can just sit back and wait for everyone else to make up their mind and follow them, I know there is nothing clever about doing that, but at least you won't get stopped out as often, so I'd rather give up a handful of pips trying to be clever and just wait for a direction to be confirmed and join the ride, thereby hardly risking anything.
Trading is actually a pretty "dumb" business, just follow the crowd.
- #253,931
- Sep 17, 2010 5:19am Sep 17, 2010 5:19am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
i have come to the conclusion that being in a trade for some is link a drug fix..some need medication in here
It is madness, it would be so much easier and profitable just taking the 4-5 trades that are spot on each day and be right rather then trying to trade every pip.
Trading is actually a pretty "dumb" business, just follow the crowd.
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Errare humanum est
- #253,933
- Sep 17, 2010 5:25am Sep 17, 2010 5:25am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
This is exactly what a retail trader should strive for, be a lemming.
- #253,935
- Sep 17, 2010 5:28am Sep 17, 2010 5:28am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
It is madness, it would be so much easier and profitable just taking the 4-5 trades that are spot on each day and be right rather then trying to trade every pip.
look like some trade every candle on every time frame..only way some gonna stop is when they broke..this whole year i have less than 30 trades
some do this in 2 days
- #253,937
- Sep 17, 2010 5:29am Sep 17, 2010 5:29am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
but working 8 hours a day for 4-5 trades... is not much better than working 1 hour per week .... 
It is madness, it would be so much easier and profitable just taking the 4-5 trades that are spot on each day and be right rather then trying to trade every pip.
not euphoria follower
This is exactly what a retail trader should strive for, be a lemming.
"Only two things are infinite, the universe and human stupidity, and I'm not sure about the former..."
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Errare humanum est
- #253,940
- Sep 17, 2010 5:33am Sep 17, 2010 5:33am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
but working 8 hours a day for 4-5 trades... is not much better than working 1 hour per week ....
I can work for 12 hours a day, just for a couple of trades. The hardest thing a daytrader needs to learn is not to always be in the market. Not being in a trade is capital preservation, only take the trades where everything lines up just perfectly.