Making money is easy- Just dont take losing trades
- #2,542
- Nov 10, 2010 4:11am Nov 10, 2010 4:11am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
- #2,545
- Nov 10, 2010 4:26am Nov 10, 2010 4:26am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
- #2,546
- Nov 10, 2010 4:31am Nov 10, 2010 4:31am
Hi whenever, i find you greenhill birdland and others counting pips while am still sucking my thumb waiting for a dance trade. Looks like you all have mastered trading confluence. Was just wondering if not waiting for perfect dance trade doesnt result in number of failed trades ?
Hi Survivor,
for what concerns myself I would really wish to wait for "just" the strongest and "real" signals.
The point is that I have not the possibility to follow the chart (only some days like today I can jump more in and out for some seconds...) so I just take whatever the Market gives of signals that I recognize / "like".
But I can confirm that there surely are also loosing trades, absolutely.
I think that if you learn to master Patience and Discipline as your working out for, well, then you'll surely be successful much earlier than me
As often remembered 2, 3 trades per day would be way more than enough...
All about doing a LOT of homeworks...and we will all get familiar with Confluences, Touches, Constraiments and P/A.
- #2,547
- Nov 10, 2010 4:36am Nov 10, 2010 4:36am
Agree with you.
It seems that everything is constraining down below the RN 1.6000...
Let's see what happens..
You see Survivor ?
This one didn't work out...
I could have closed at +9, but the spread was at +12,4 !!!
So stopped out.
Some work, some not, so what: Next...
I would like to see the price going up to 1,6050 for a Confluence of RN + H4 Ema 10 and EMA62 for a new short...
- #2,549
- Nov 10, 2010 4:41am Nov 10, 2010 4:41am
You see Survivor ?
This one didn't work out...
I could have closed at +9, but the spread was at +12,4 !!!
So stopped out.
Some work, some not, so what: Next...
I would like to see the price going up to 1,6050 for a Confluence of RN + H4 Ema 10 and EMA62 for a new short...
Making money is easy- Just dont take losing trades
- #2,551
- Nov 10, 2010 5:14am Nov 10, 2010 5:14am
Things to NEVER do:
1) look for revenge for a lost trade
2) Overtrade
Anyway it worked out the Touch of the H1 Emas.
But I INDEED traded too much and INDEED I am out of trading (and of the Forum, sorry for posting so much) for today.
Balance: + 32,2 pips
I DREAM I could do that every day...
Time out!
Click !
1) look for revenge for a lost trade
2) Overtrade
Anyway it worked out the Touch of the H1 Emas.
But I INDEED traded too much and INDEED I am out of trading (and of the Forum, sorry for posting so much) for today.
Balance: + 32,2 pips
I DREAM I could do that every day...
Time out!
Click !
- #2,553
- Nov 10, 2010 5:54am Nov 10, 2010 5:54am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
Things to NEVER do:
1) look for revenge for a lost trade
2) Overtrade
Anyway it worked out the Touch of the H1 Emas.
But I INDEED traded too much and INDEED I am out of trading (and of the Forum, sorry for posting so much) for today.
Balance: + 32,2 pips
I DREAM I could do that every day...
Time out!
Click !
on AVERAGE you can make 30pips/day-this is important to look for.
i know, kostas is making this every day. but to pull preasure from yourself train first to make 10pips/day on average, then 20pips, aso...
so far i make more than 30pips/day on AVERAGE with dance.
but i have days with more then +100pips and others with just +10 or +20 pips
trading is like dancing, don't think and just listen to the music!
- #2,554
- Edited 6:08am Nov 10, 2010 5:57am | Edited 6:08am
- Joined Aug 2010 | Status: absolute beginner | 5,463 Posts
trading is like dancing, don't think and just listen to the music!
- #2,555
- Nov 10, 2010 8:38am Nov 10, 2010 8:38am
Things to NEVER do:
1) look for revenge for a lost trade
2) Overtrade
Anyway it worked out the Touch of the H1 Emas.
But I INDEED traded too much and INDEED I am out of trading (and of the Forum, sorry for posting so much) for today.
Balance: + 32,2 pips
I DREAM I could do that every day...
Time out!
Click !
Better to lose opportunity, rather than capital !
Hi, I'm brand new to the dance. I really like the system and it looks like it's working well for a lot of people, but not for me yet unfortunately! Can you have a look at this chart and tell me what I did wrong?
I entered at COB in the circled area, dead on a confluence of 2 MAs and a RN. It looked like the perfect trade. What were the warning signs that I missed?
Thanks
I entered at COB in the circled area, dead on a confluence of 2 MAs and a RN. It looked like the perfect trade. What were the warning signs that I missed?
Thanks
Hi, I'm brand new to the dance. I really like the system and it looks like it's working well for a lot of people, but not for me yet unfortunately! Can you have a look at this chart and tell me what I did wrong?
I entered at COB in the circled area, dead on a confluence of 2 MAs and a RN. It looked like the perfect trade. What were the warning signs that I missed?
Thanks
First, a trade going against you doesn't mean you did anything wrong. Sometimes, in any strategy, the best set up will still be a loser. That doesn't make it a bad trade.
It's also worth noting that we don't have the larger time frame, so the chart doesn't show the complete picture. It's possible that there was info in the higher time frames that would shed light on this situation.
Here, there were a few possible entry points.
1) Enter on the first touch of the top MA and placed your stop below the bottom MA. This is a valid dance trade. When the MA's are separated, it looks like some people wait to see price will reach the last MA. But, by the rules, I think its OK to take from a touch on the first MA.
2) Enter on the touch of the bottom MA. This would also be valid and by the rules. I don't yet know how one decides between the two. Kostas' experience suggests that, at least on the GU, the last MA acts like a price magnet in these situations. And yet he still admits entering early out of fear that he will lose the trade.
3) Enter at COB, as you did. Here I have a question. As price moved down to hit the MAs, you are expecting a bounce upward. But in this instance, price broke through both MAs, and then moved back up to the top MA by the end of the candle. So, why do you now expect a bounce up? Couldn't you just as easily treat this as price moving up to the MAs and then bouncing down?
I know that that question is really easy to ask with the benefit of hindsight. I will only point out that by the time you entered your trade, price had moved through both MAs, and then back through them both again. People here have recently been questioning price behavior when both the 35 and 50 are crossed.
Also, at any of the three entry points, it looks to me like you should not have had a big loss. On the next bar, the price moved up 10 pips or so. I think, in this situation, that that is probably enough to move to break even, or at least tighten the stop some. Others might very well disagree on this point.
I will note, however, where I've seen similar examples where one poster got stopped out, another broke even, and Kostas took the trade off the bottom MA and ended up with a net gain.
I'd be very interested to hear what other, more experienced people think about this trade.
- #2,560
- Nov 10, 2010 9:03pm Nov 10, 2010 9:03pm
Hi, I'm brand new to the dance. I really like the system and it looks like it's working well for a lot of people, but not for me yet unfortunately! Can you have a look at this chart and tell me what I did wrong?
I entered at COB in the circled area, dead on a confluence of 2 MAs and a RN. It looked like the perfect trade. What were the warning signs that I missed?
Thanks