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  • #319,941
  • Nov 5, 2010 5:04am Nov 5, 2010 5:04am
Quoting paul1
Hello hope you dont mind me posting my thoughts here.

I learned a lesson from my losing trades .
Question to myself .
Q.why is it easy for my losers to get big while my winners easily stay small.?
Answer. I seem to take profits of 10 to 20 pips ,the first sign of retrace am out with say 20 pips.
My losers on the other hand go against say 10-20pips stay in loving the retrace back towards me ( it might go my way yet).Damn no not this time again starts to move away.Again same thoughts wen retrace.until...
green: continue to do just that, but in the end of the day, take a look at why they continued to go that way.

red: set stoploss, do not move it. i always set my sl at be as soon as possible when in any doubt. if it gets hit, but pa reverses again to the preferred direction, don't hop in but close your eyes for a moment until the entry is gone. it helps a lot.
  • #319,942
  • Nov 5, 2010 5:04am Nov 5, 2010 5:04am
Quoting redsword11
Attachment
great trade man. i was looking to see how it went.

perfect. doesn't get any better than this.

Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #319,943
  • Nov 5, 2010 5:04am Nov 5, 2010 5:04am
Quoting FibbinArchie
Could be a sword fish once the dust has settled...
The Chonchy
  • #319,944
  • Nov 5, 2010 5:04am Nov 5, 2010 5:04am
whats demo trading? I just write my trades on these cards....does that count?
Attached Image (click to enlarge)
Click to Enlarge Name: phone 273.jpg Size: 43 KB
Look Sharp/Trade Tight
  • #319,945
  • Nov 5, 2010 5:07am Nov 5, 2010 5:07am
ok lets scalp

going long @ 4157
I SEE YOU !!
  • #319,946
  • Nov 5, 2010 5:07am Nov 5, 2010 5:07am
Watch for a bounce around 141
  • #319,947
  • Nov 5, 2010 5:07am Nov 5, 2010 5:07am
Quoting chonchy
1.415 is a swordfish
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #319,948
  • Nov 5, 2010 5:08am Nov 5, 2010 5:08am
Attached Image (click to enlarge)
Click to Enlarge Name: dkk.jpg Size: 59 KB



other open trade, approaching tg
  • #319,949
  • Nov 5, 2010 5:09am Nov 5, 2010 5:09am
Quoting paul1
Hello hope you dont mind me posting my thoughts here.

I learned a lesson from my losing trades .
Question to myself .
Q.why is it easy for my losers to get big while my winners easily stay small.?
Answer. I seem to take profits of 10 to 20 pips ,the first sign of retrace am out with say 20 pips.
My losers on the other hand go against say 10-20pips stay in loving the retrace back towards me ( it might go my way yet).Damn no not this time again starts to move away.Again same thoughts wen retrace.until pain gets too much an am out" THEN IT REVERSES"
Thus...
First,

1) You have to learn to make optimal entries to lessen the probability for a losing trade. This is because you may think that "ahh, it was a good entry and will reverse soon, which in turn will likely make the trade losing and exit BAD" So, in short, you have to recognize for sure good entries.

2) You should either manually/using stops to close negative trade in time and accept that. Those happen sometimes.

2+) And don't get disappointed, you might be able to reverse that bad trade.
They think they are smarter than I am.
  • #319,950
  • Nov 5, 2010 5:10am Nov 5, 2010 5:10am
Quoting Mr Hatch
green: continue to do just that, but in the end of the day, take a look at why they continued to go that way.

red: set stoploss, do not move it. i always set my sl at be as soon as possible when in any doubt. if it gets hit, but pa reverses again to the preferred direction, don't hop in but close your eyes for a moment until the entry is gone. it helps a lot.
Thankyou very much mr hatch
making green pips large and red pips small this is my goal.
  • #319,951
  • Nov 5, 2010 5:11am Nov 5, 2010 5:11am
Quoting Mr Hatch
green: continue to do just that, but in the end of the day, take a look at why they continued to go that way.

red: set stoploss, do not move it. i always set my sl at be as soon as possible when in any doubt. if it gets hit, but pa reverses again to the preferred direction, don't hop in but close your eyes for a moment until the entry is gone. it helps a lot.
great answer Mr. hatch, if you manage to do that 70% of the time, is a winner, but some times is esier to plan it than to execute it, I think is all in the sicology of the trader and the amount of risk involve, less risk, isier to do, more risk, fear kicks in.........my 2 cents
The Chonchy
  • #319,952
  • Nov 5, 2010 5:12am Nov 5, 2010 5:12am
Quoting Z3iz3i
First,

1) You have to learn to make optimal entries to lessen the probability for a losing trade. This is because you may think that "ahh, it was a good entry and will reverse soon, which in turn will likely make the trade losing and exit BAD" So, in short, you have to recognize for sure good entries.

2) You should either manually/using stops to close negative trade in time and accept that. Those happen sometimes.

2+) And don't get disappointed, you might be able to reverse that bad trade.
Also thankyou very much .much appreciated
making green pips large and red pips small this is my goal.
  • #319,953
  • Nov 5, 2010 5:12am Nov 5, 2010 5:12am
Quoting Z3iz3i
First,

1) You have to learn to make optimal entries to lessen the probability for a losing trade. This is because you may think that "ahh, it was a good entry and will reverse soon, which in turn will likely make the trade losing and exit BAD" So, in short, you have to recognize for sure good entries.

2) You should either manually/using stops to close negative trade in time and accept that. Those happen sometimes.

2+) And don't get disappointed, you might be able to reverse that bad trade.
The Chonchy
  • #319,954
  • Nov 5, 2010 5:12am Nov 5, 2010 5:12am
Weekly Chart...... target is almost clear...............

1.4100 must be ideal spot to load for long targeting the trendline.......
Attached Image (click to enlarge)
Click to Enlarge Name: weekly.gif Size: 22 KB
  • #319,955
  • Nov 5, 2010 5:13am Nov 5, 2010 5:13am
Quoting paul1
Hello hope you dont mind me posting my thoughts here.

I learned a lesson from my losing trades .
Question to myself .
Q.why is it easy for my losers to get big while my winners easily stay small.?
Answer. I seem to take profits of 10 to 20 pips ,the first sign of retrace am out with say 20 pips.
My losers on the other hand go against say 10-20pips stay in loving the retrace back towards me ( it might go my way yet).Damn no not this time again starts to move away.Again same thoughts wen retrace.until pain gets too much an am out" THEN IT REVERSES"
Thus...
I don't know if maybe you take an entry when price is moving out of a consolidation in your desired direction, if so, that will often put you on the wrong side of the spread while the consolidation continues to play out. This can play havoc with psychology and you end up thankful to get out at break even or slightly in profit...


My two cents -

I try to buy/sell as near as my support/resistance level as possible, whilst price is moving away from my desired direction. Then (most of the time) as consolidation plays out, you are on the good side of the spread and in profit, thus not stressed. It also allows you to move stop to b/e quicker, and you can usually get a better entry or re-evaluate if your stop gets hit... It's counter intuitive at first, until you get used to it and you need to have confidence in your levels. Only taking entries at confluence levels, gives you greater confidence and greater conviction to close if you are wrong. Hope this helps...
  • #319,956
  • Nov 5, 2010 5:15am Nov 5, 2010 5:15am
US bank selling eur/gbp .
I'am sure one day I'll understand.

As my post yesterday Iam looking for test of previous range .

More the 4120 area as the 1.4160 was more of a spike up.
got in at 4180 break short.
making green pips large and red pips small this is my goal.
  • #319,957
  • Nov 5, 2010 5:16am Nov 5, 2010 5:16am
Quoting redsword11
Attachment


other open trade, approaching tg
awesome analisis to enter....I wish I could have that eye for long term trades.......
The Chonchy
  • #319,958
  • Nov 5, 2010 5:21am Nov 5, 2010 5:21am
Well on the short time frames I trade, I look for a trade to go my way immediately, or very close to it. I'll give it some room sure, but it seems to me the trades that go my way right quick are the best.
Look Sharp/Trade Tight
  • #319,959
  • Nov 5, 2010 5:21am Nov 5, 2010 5:21am
Quoting Z3iz3i
First,

1) You have to learn to make optimal entries to lessen the probability for a losing trade. This is because you may think that "ahh, it was a good entry and will reverse soon, which in turn will likely make the trade losing and exit BAD" So, in short, you have to recognize for sure good entries.

2) You should either manually/using stops to close negative trade in time and accept that. Those happen sometimes.

2+) And don't get disappointed, you might be able to reverse that bad trade.
1. i use supply and demand zones. they are more than helpful.
2. nothing goes straight down. so you have many opportunities to scale out. but you need to accept a loss a smaller one using trend lines or Ema's
price will help you get out of a bad trade many times but don't need to close it on + a small loss is welcome.

3. you will have more change to get out if you trade with the trend.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #319,960
  • Nov 5, 2010 5:23am Nov 5, 2010 5:23am
Quoting DMA Trader
1.415 is a swordfish
I bought a very little tiny lot here but i think one hour hasen't finish with the down yet DMA, so I'll take another little tiny minimal lot at 4100 where my indis say is going to bounce in the two hours and daily charts......but like T saids we need to get out of all this mess before the news, so......
The Chonchy
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