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  • #344,021
  • Dec 10, 2010 1:43pm Dec 10, 2010 1:43pm
Quoting Muhammad88
Well it looks everybody has gone i am at a loss of more than 1000$ today.anyway it was a bad bad week for me down 9000$ this week. Wish you luck and hope i survive the next week and its a better 1
Sorry to hear that man , continued loose the week , it happens though but be carefull next . wish you recover next week . keeping 1 short me too as not seeing any solid change so early, immediate short term still down .
take care .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #344,022
  • Dec 10, 2010 1:48pm Dec 10, 2010 1:48pm
Quoting Muhammad88
plz explain me the lesson coz i was trading what it looked and i still beleive it should have gone down but all of a sudden without any news you see a spike now no 1 predicted it .
the "spike" was just a retrace on h4. we will continue down.

I was wrong about the timing but the target is still valid.

http://www.forexfactory.com/showpost...stcount=343154
  • #344,023
  • Dec 10, 2010 1:49pm Dec 10, 2010 1:49pm
Quoting The Fool
yeah, except that QE2 was supposed to have the opposite effect - driving bond yields down

http://finance.yahoo.com/banking-bud...5&asset=&ccode=
From the link:
""It calls for the Fed to buy $600 billion of bonds through next June, plus perhaps $300 billion more by reinvesting funds received as bonds from an earlier program mature.""

Doesn't this sound like, they are taking the interest earned to buy more Bonds??
So this fast rise in yield is surely speculation and is only necessary to make a quick buck to reinvest the profits to buy more Bonds. lol. Position building in the bond market.
  • #344,024
  • Dec 10, 2010 1:50pm Dec 10, 2010 1:50pm
Quoting Muhammad88
Well it looks everybody has gone i am at a loss of more than 1000$ today.anyway it was a bad bad week for me down 9000$ this week. Wish you luck and hope i survive the next week and its a better 1
I wish you luck for your next week of trading too ......
  • #344,025
  • Dec 10, 2010 1:55pm Dec 10, 2010 1:55pm
Friends, here is the bigger picture of the Euro, i dont like to trade anything below Daily. Fundamentals are extremely bullish for the Euro....forget about economic reports, so called bad news etc. ...behind the scenes governments are preparing for a Euro exit. Have a great weekend.
Attached Image (click to enlarge)
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  • #344,026
  • Dec 10, 2010 1:56pm Dec 10, 2010 1:56pm
Good luck to all of you and thank you all for wishing me luck .
This was todayz pic see you all on monday have a great week end.
Attached Image
  • #344,027
  • Dec 10, 2010 1:57pm Dec 10, 2010 1:57pm
Quoting Muhammad88
plz explain me the lesson coz i was trading what it looked and i still beleive it should have gone down but all of a sudden without any news you see a spike now no 1 predicted it .
Sorry to hear that. The biggest mistake you are making is the one you said in your own words. " I STILL BELEIVE IT SHOULD GO DOWN "

This is FOREX man and you or anybodyelse ever can not tell for sure where the market is gonna go so you need to stop BELEIVE what you think and start follow the PA closely . Learn EW and know which wave you are in . EW is like a raod map and Fibs are measuring tool for the roads.

Remember " winners never quits "
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #344,028
  • Dec 10, 2010 1:57pm Dec 10, 2010 1:57pm
Quoting Muhammad88
plz explain me the lesson coz i was trading what it looked and i still beleive it should have gone down but all of a sudden without any news you see a spike now no 1 predicted it .
Direction is not important as most traders think. We can't stay in one direction all night as the market is driven from 1 level to the next.
Considering the large loss in a single night, There is no doubt that your Lot size is larger than your risk per trade....

What I have learned.. is that minimal market exposure is the safest way to trade. Sure you can position build with the trend.. but you need to drop the leverage to about nothing, to handle the volatility. Or better yet, scalp the entries, close half, move stoploss to BE and if the trend goes in your favor, than you are ready to go. If I were you, I wouldn't trade for the rest of the month. December will eat you up.
  • #344,029
  • Dec 10, 2010 1:58pm Dec 10, 2010 1:58pm
Quoting Muhammad88
plz explain me the lesson coz i was trading what it looked and i still beleive it should have gone down but all of a sudden without any news you see a spike now no 1 predicted it .
learning to take a loss is THE most important lesson you must learn if you want to survive as a trader

Psychologically, it is difficult to admit you are wrong. But in trading you are going to be wrong often, maybe most ofthe time. It's what you do when you are wrong that really matters. It seems really simple: if you are in a losing trade - stop your loss. Set up the trade with acceptable risk/reward limits in the first place, then accept the risk by not altering those parameters. I mean: don't move or remove the stop loss you set as part of that trade.

It sounds like you are risking too much. But you can have good R:R and just run into losing streaks. Then what do you do? Stop trading. Take a break. A day, a week, or a month - whatever it takes for you to get an understanding of the market so you can win trades.

Think about it and write down a trading plan. The most important part of that plan will relate to how you manage risk. Personally, if I have a -4% trading session, I will stop trading. If I am down >10% in a week I will stop for the week. When I screw up and allow myself a big loss, I will stop trading real money for a week, at least.

Hope this helps & good luck.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #344,030
  • Dec 10, 2010 2:00pm Dec 10, 2010 2:00pm
Quoting samdani786
Sorry to hear that. The biggest mistake you are making is the one you said in your own words. " I STILL BELEIVE IT SHOULD GO DOWN "

This is FOREX man and you or anybodyelse ever can not tell for sure where the market is gonna go so you need to stop BELEIVE what you think and start follow the PA closely . Learn EW and know which wave you are in . EW is like a raod map and Fibs are measuring tool for the roads.

Remember " winners never quits "

lol. EW and FIBS. You are giving someone advice about ""one should not Believe,"" and your theory is to use EW- Elliot Wave.... to determine direction... Aren't you doing the same thing... Believing...

Winners never quit and losers always forget
  • #344,031
  • Dec 10, 2010 2:01pm Dec 10, 2010 2:01pm
Quoting Muhammad88
Good luck to all of you and thank you all for wishing me luck .
This was todayz pic see you all on monday have a great week end.
i wouldn't even dare to download an image-file that cannot be previewed. sorry...
  • #344,032
  • Dec 10, 2010 2:03pm Dec 10, 2010 2:03pm
Quoting Muhammad88
Good luck to all of you and thank you all for wishing me luck .
This was todayz pic see you all on monday have a great week end.
How long u have been trading?
  • #344,033
  • Dec 10, 2010 2:06pm Dec 10, 2010 2:06pm
Quoting Muhammad88
plz explain me the lesson coz i was trading what it looked and i still beleive it should have gone down but all of a sudden without any news you see a spike now no 1 predicted it .
I also noticed that you talked about bond market and stock and other markets. I know they all have their effect on forex market but if you pay attention only on PA and learn how to follow it swing by swing, you will be better off. Learn PA & S &R and thats all you need
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #344,034
  • Dec 10, 2010 2:07pm Dec 10, 2010 2:07pm
THANK YOU ALL FOR YOUR ADVICE I REALLY Appreciate IT .And as you all should have guessed i am very new at this just started 3 weeks ago .and FOOL (lol) I made a plan but i wish i could have applied it the mistakes you mentioned were all true i need to work on them before entering again. GOOd BYE
  • #344,035
  • Dec 10, 2010 2:10pm Dec 10, 2010 2:10pm
Quoting Muhammad88
i am very new at this just started 3 weeks ago
If u care about your money go back to demo if u want to lose this account to learn well that ur choice.

Quoting egkid
R U good trader? Read this and pick up ur category http://cdn.forexfactory.com/images/s.../yim/happy.gif
The 4 sequence u may notice when start forex
1- losing >> because insist to reach ur TP no matter what
2- make profit and then lose it>> Insist to dance to only one rhythm with ur self not listening to market rhythm
3- make profit and keep it >> first step to success u listen , dance, flexible
4- professional Dancer as i call it >Creator and have a vision
  • #344,036
  • Dec 10, 2010 2:11pm Dec 10, 2010 2:11pm
Quoting Ipndasno
lol. EW and FIBS. You are giving someone advice about ""one should not Believe,"" and your theory is to use EW- Elliot Wave.... to determine direction... Aren't you doing the same thing... Believing...

Winners never quit and losers always forget
EW is like better then a COIN toss. Let me show you . I can show you lot more then that . Just ask me which pair . Thanks
Attached Image(s) (click to enlarge)
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #344,037
  • Dec 10, 2010 2:11pm Dec 10, 2010 2:11pm
Quoting Ipndasno
Or better yet, scalp the entries, close half, move stoploss to BE and if the trend goes in your favor, than you are ready to go. If I were you, I wouldn't trade for the rest of the month. December will eat you up.
If you have the patience to do that, that's really the safest entry...
1. Enter
2. Exit with 1/2 at a tp which is at the same distance of your stop loss
3. NOW you are trading 4 free!!

You can also lock down profit at BE but the risk is to very lickely get out of the trade.
  • #344,038
  • Dec 10, 2010 2:11pm Dec 10, 2010 2:11pm
Quoting SirMcPip
Fundamentals are extremely bullish for the Euro....forget about economic reports, so called bad news etc. ...behind the scenes governments are preparing for a Euro exit. Have a great weekend.
OK, I'm confused, but that is not unusual: you say euro fundies are extremely bullish, but that EZ govt's are preparing for a euro exit. You expect euro parity or below, but not before a massive rally?

I have an inkling about where you are coming from but I want to hear it straight from the horse's mouth.

Thanks.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #344,039
  • Dec 10, 2010 2:15pm Dec 10, 2010 2:15pm
Quoting samdani786
EW is like better then a COIN toss. Let me show you . I can show you lot more then that . Just ask me which pair . Thanks
The challenge i have with EW is that is pretfy subjective... You had some peaks u did not count...
  • #344,040
  • Dec 10, 2010 2:15pm Dec 10, 2010 2:15pm
Quoting Martingale

You can also lock down profit at BE but the risk is to very lickely get out of the trade.
Very True indeed. I would say only 10% of the time, you can enter at that perfect moment and let it ride. I've learned to take what you can get. and not try to hit the homerun all night. I probably make more pips trading this way than the traders waiting for the break outs.

Great post though. I feel the same
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