should be, but you never know
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- #301,923
- Oct 6, 2010 11:15am Oct 6, 2010 11:15am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
I have been blessed lately. I used to trade a short term system...with break-even results so far even if my backtesting made a good point that my system would be profitable but at the end...it was not. After a year trading this...I got tired and decided to switch to something more relax. I finally moved to a daily trend-following method and the first trade I jump in...is this amazing EURUSD uptrend...I couldn't wish for a better introduction to trend following !
Wish all struggling short-term traders could enjoy the same feeling...no more short-term...
- #301,925
- Oct 6, 2010 11:18am Oct 6, 2010 11:18am
- Joined Sep 2007 | Status: Trader | 6,871 Posts
A) I'm not a newb, but I made a huge newbie mistake...one that I have yet to learn. I let my emotions control my trading, and tried to 'will' the market in the direction I wanted it to go in (hence the verbage 'can't' 'won't' etc)
B) This was inevitability, and a wakeup call. I am an EXCELLENT swing trader. Set it, and forget it would net me 10x what I do intraday, but I love the thrill of making $20/pip. It's time to face facts. As an intraday trader...I'm a gambler. As a swing trader...I'm an investor.
Anyone who's familiar with my posts can probably tell you I'm a position trader. Heck, I'm still holding a boat load of EUR/USD longs with an average of 1.3680
check out my blog: forexmademillionaire dot com
- #301,927
- Oct 6, 2010 11:20am Oct 6, 2010 11:20am
I didnt planed to trade today so i gave a look at forum , and i was laughing my butt of when i read about shorting the Up trend...but few minutes later i was going to cry because i forgot to cancel some pending sell orders from yesterday on 1.3902 and 1.3912 . i am talking about live account, so now i am 
for trend reverse 
...cosmic Karma is a Bitch 
for trend reverse ...cosmic Karma is a Bitch Help to be helped.
- #301,928
- Oct 6, 2010 11:20am Oct 6, 2010 11:20am
395 is strong resistance should get some pull back there
, Just like .3840, Just like .3790I've tried making money on what I thought were pullbacks for the month of september. Luckily, all my long positions saved me.
- #301,929
- Oct 6, 2010 11:21am Oct 6, 2010 11:21am
- | Commercial User | Joined Jul 2009 | 5,375 Posts
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
- #301,933
- Oct 6, 2010 11:22am Oct 6, 2010 11:22am
- Joined Apr 2007 | Status: Trader | 3,055 Posts
The best thing that can happen to you is to find out where you're wrong.
- #301,934
- Oct 6, 2010 11:24am Oct 6, 2010 11:24am
- | Joined Sep 2010 | Status: Trader | 1,883 Posts
Just like .3880
I've tried making money on what I thought were pullbacks for the month of september. Luckily, all my long positions saved me.
- #301,935
- Oct 6, 2010 11:24am Oct 6, 2010 11:24am
Yep, I hear ya... check your PM, bud.
Anyone who's familiar with my posts can probably tell you I'm a position trader. Heck, I'm still holding a boat load of EUR/USD longs with an average of 1.3680
- #301,936
- Oct 6, 2010 11:24am Oct 6, 2010 11:24am
- | Commercial User | Joined Jul 2009 | 5,375 Posts
after we reach 1.4040 the abc correction of the down move from 11/05 to 5/10 will end and eur will resume wave 5 down to 1.05 which will take roughly 6 months to reach, so by april/may 2011 EUR will be aroung 1.05, mark this post, there will be no inflation or hyperinflation, just deflation, you can start shorting eur and gold and the stock market when euro reaches 1.4040 for the big move down
too low
Dollar will probably face De-listing from ForexLook for Amero, it might hit your target 1.05.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
- #301,937
- Oct 6, 2010 11:25am Oct 6, 2010 11:25am
- Joined Sep 2007 | Status: Trader | 6,871 Posts
check out my blog: forexmademillionaire dot com
- #301,938
- Oct 6, 2010 11:25am Oct 6, 2010 11:25am
Through all the drivle that has been posted today, this one definitely took the cake for me:
I've put "x"s instead of leaving the poster's original name to somewhat anonymize it because this isn't a personal attack on the poster, but rather an opportunity to attempt to teach a lesson....
- #301,940
- Oct 6, 2010 11:28am Oct 6, 2010 11:28am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
Thank you Special.
I must say it was hard for me to quit my old method...It felt like a horrible failure as I quit everything to focus on my trading full time. But looking back, it was a great experiment and I'm happy I did it. I'm much more happy I quit because should I have stick to it, I would sit in a deep hole right now because my last 10 trades would have been losers...a believe me...I would have stopped anyways after those 10 trades...this would have destroyed my account...and my moral.
Longer-term = less trades...
I'm very happy I...
