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The System III (Oh no!)

  • #1,021
  • Oct 21, 2010 6:35am Oct 21, 2010 6:35am
Another trade. Will see...
"IF the price will reject off the upper level - THEN I will trade short"


... now I have to wait for my trade to hit TP order, or manage to not let the market to hit all my risk...
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  • #1,022
  • Oct 21, 2010 7:00am Oct 21, 2010 7:00am
unemployment claims @8:30..

Looking at 00 level for support - 50 hold resistance pretty good...

gonna sit on my hands for the announcement, just in case..
Peace
  • #1,023
  • Oct 21, 2010 8:19am Oct 21, 2010 8:19am
Quoting dim4ik42
I get what do you mean... but... What about - how do you do your MM???

Personally I do not trade "all possible money for today" in one trade... at least - in 4 trades. So - two wins, one loss... no second-guessing... Just - see the possibility (may be subjectively), place my orders - and wait for the market to fill my order. If I loose... I still have money for keeping trade... until I loose all my predetermined risk for today.


Regards!
My MM usually laid on a spreadsheet. and i only risk 1% per trade and ratio that against a proper stop lost.

If i win, that its for the day, unless like i said, radical move. Still i limit myself to only 3 trade per day. If i loss. Thats it, closed the chart, do other stuff so i wont revenge trade and loss more.

It take seriously mental discipline to do this really.
  • #1,024
  • Oct 21, 2010 8:27am Oct 21, 2010 8:27am
Quoting dim4ik42
Another trade. Will see...
"IF the price will reject off the upper level - THEN I will trade short"


... now I have to wait for my trade to hit TP order, or manage to not let the market to hit all my risk...

Target hit.
  • #1,025
  • Oct 21, 2010 8:31am Oct 21, 2010 8:31am
Quoting freqzz
My MM usually laid on a spreadsheet. and i only risk 1% per trade and ratio that against a proper stop lost.

If i win, that its for the day, unless like i said, radical move. Still i limit myself to only 3 trade per day. If i loss. Thats it, closed the chart, do other stuff so i wont revenge trade and loss more.

It take seriously mental discipline to do this really.

I understand you, my friend!

It take seriously mental discipline to do this really. - agree with you totally!
  • #1,026
  • Oct 21, 2010 8:33am Oct 21, 2010 8:33am
I went short at the bounce of 00. Actually I got in late - 89. I was looking to short 95. Target was 63 but the market just bounced off from 70 area so I cut the trade around 74....I don't know about you guys but this week has been tough to trade...
Peace
  • #1,027
  • Oct 21, 2010 8:41am Oct 21, 2010 8:41am
market broke 00 long but I will stay put - philly report is @ 10:00 am. Buying on a pullback @05 would be nice but....
Peace
  • #1,028
  • Oct 21, 2010 8:50am Oct 21, 2010 8:50am
Quoting feb2865
I went short at the bounce of 00. Actually I got in late - 89. I was looking to short 95. Target was 63 but the market just bounced off from 70 area so I cut the trade around 74....I don't know about you guys but this week has been tough to trade...
sure its been really hard. tho i manage to get off 2 win.

70 pips on the EUGBP 0.8825 long and 40 pips EUJPY 112.85 bounce.

great enuff for me today.
  • #1,029
  • Oct 21, 2010 8:51am Oct 21, 2010 8:51am
in a perfect world, 00 is holding support nicely. But the philly report is right there...what a shame!!
Peace
  • #1,030
  • Oct 21, 2010 8:53am Oct 21, 2010 8:53am
Quoting freqzz
sure its been really hard. tho i manage to get off 2 win.

70 pips on the EUGBP 0.8825 long and 40 pips EUJPY 112.85 bounce.

great enuff for me today.
hey! great trades brother!!!

I get happy when people get it done despite how the markets are!!!
Peace
  • #1,031
  • Oct 21, 2010 8:53am Oct 21, 2010 8:53am
GBPUSD is breaking on the 57. any thoughts?

tho this is still pending on the news really.
  • #1,032
  • Oct 21, 2010 8:57am Oct 21, 2010 8:57am
Quoting freqzz
GBPUSD is breaking on the 57. any thoughts?

tho this is still pending on the news really.
I will sit on my hands...
Peace
  • #1,033
  • Oct 21, 2010 8:58am Oct 21, 2010 8:58am
Quoting dim4ik42
I understand you, my friend!

It take seriously mental discipline to do this really. - agree with you totally!
Dim

at this point I believe you just found out how to be consistent on this game..
Peace
  • #1,034
  • Oct 21, 2010 9:01am Oct 21, 2010 9:01am
Quoting feb2865
I will sit on my hands...
imma get somethin to drink and watch. let see if we can get a hoorah.
  • #1,035
  • Oct 21, 2010 9:22am Oct 21, 2010 9:22am
Quoting feb2865
Dim

at this point I believe you just found out how to be consistent on this game..

Well, my Dear brother Feb - I hope so!!!!! I hope that I found out what is the consistency on this game...

at least what I know for sure is - if I see my set-up - I trade it (no second-guessing, except the news or event). I adjust my load to have the risk acceptable, and I try to get anything greater than my risk. I close the chart if my daily loss limit is reached. Or - if I did twice that limit (at profit side).

The most hard part is - to sit on my hands until I would see my set-up.
After I know my set-up and I have my MM rules - there is no more what about I have to f...ck my brain (sorry...lol). I know - if I will religiously follow my rules - the game of probability will be at my side.


THANK YOU!!!!!!
  • #1,036
  • Oct 21, 2010 9:23am Oct 21, 2010 9:23am
let's see if goes up 50..... that would be a nice short trade..
Peace
  • #1,037
  • Oct 21, 2010 9:24am Oct 21, 2010 9:24am
Quoting feb2865
Dim

at this point I believe you just found out how to be consistent on this game..

Brother Feb... If you do not mind - I will send you now a PM (a really short PM) with my today's result.

... in a few minutes..
  • #1,038
  • Oct 21, 2010 9:30am Oct 21, 2010 9:30am
35-40 area is holding resistance - I still prefer 50. If the market comes back to 00 I will quit for the day...seems like a comfort zone to me.
Peace
  • #1,039
  • Oct 21, 2010 11:25pm Oct 21, 2010 11:25pm
Good morning!

my current set-up.


Wait for the trigger.
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  • #1,040
  • Oct 21, 2010 11:39pm Oct 21, 2010 11:39pm
Quoting dim4ik42
Good morning!

my current set-up.


Wait for the trigger.

Order is filled.
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