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Attachments: Trade What You See - Almost Naked Trading
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Trade What You See - Almost Naked Trading

Quoting lawgirl21
I did not. I don't use pending orders often because there are usually enough good trades while I am at the computer that I don't need too. I don't think I have set a pending order since before Christmas. The market, in my opinion, is still a little schizo so I don't trust it for pending orders right now.
Great question and answer Pending orders have been very hard to set and walk away from this mo. The market keeps shaking out the orders (whip sawing) Last night I couldn't sleep got up around 2:30 am Looked at the screens and the trades were going againest me. I closed them out and then the fireworks started! The pairs were moving hard and fast. Within 30min pairs jumped 100+ pips. I got in and out for +46 pip closed them out and slept like a baby.
Quoting Lorka85
thx geula
Quoting geula4
Rock on!!
Thanx

wish you all many pips of profit too !
Finally breaking up?...
Missed out on some 4H tap trades this week, left it a little late.

Onto next week!
Quoting chanu
Hi LG....I had shorted GBP USD and after almost reaching 1.6000 it turned south to enable me to take 200 pips in microlots ...am learning not to overreach.....
thanx for the thread !
chanu
That is really really terrific! Great job!
Quoting gasservettes
Great question and answer Pending orders have been very hard to set and walk away from this mo. The market keeps shaking out the orders (whip sawing) Last night I couldn't sleep got up around 2:30 am Looked at the screens and the trades were going againest me. I closed them out and then the fireworks started! The pairs were moving hard and fast. Within 30min pairs jumped 100+ pips. I got in and out for +46 pip closed them out and slept like a baby.
Terrific trade management! That's the name of the game..not to question why...just to do.
Quoting geula4
IMHO, best is to target the next support or resistance level.
However, we have not been able to leave these trades many days since before the holidays.
Just wanted to show the ease with which the M15 candles help monitor the daily 4H1 BO trades. Has been quite a tight and difficult to trade range today, however managed 3 trades today averaging 14 pips each.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 142 KB
IMHO, testing 0.9840 support area...
Let's see if it breaks down
I think setting pending orders and going to bed have hurt me pretty bad. I just can't be up at 3 or 4 in the morning when all the action is happening. Then, I just in to stuupid trades during the day to try to make up for the losses.
Quoting Fitness09
I think setting pending orders and going to bed have hurt me pretty bad. I just can't be up at 3 or 4 in the morning when all the action is happening. Then, I just in to stuupid trades during the day to try to make up for the losses.
IMHO, if that's the case, just skip pending orders and trade during the day calmly. Just my 2 cents...
Quoting Fitness09
I think setting pending orders and going to bed have hurt me pretty bad. I just can't be up at 3 or 4 in the morning when all the action is happening. Then, I just in to stuupid trades during the day to try to make up for the losses.
Would it benefit you to set a price alert on the meta trader platform to either give an audible alarm or send a text message ( setup in the terminal under alerts) when price is in your "area of interest" check PA and then set an order or use the trade manager i spoke of on an earlier post #10230
Always Learning
Quoting JayTrader
Would it benefit you to set a price alert on the meta trader platform to either give an audible alarm or send a text message ( setup in the terminal under alerts) when price is in your "area of interest" check PA and then set an order or use the trade manager i spoke of on an earlier post #10230
My broker uses dealbook360, so I can't use all the fancy things ya'll have on meta, but I am seriously considering switching to a broker that has meta (any suggestions). I just really need to be more disciplined. Thanks for the help.
Quoting Fitness09
My broker uses dealbook360, so I can't use all the fancy things ya'll have on meta, but I am seriously considering switching to a broker that has meta (any suggestions). I just really need to be more disciplined. Thanks for the help.
Personally like geula4 said in an earlier post, it may be best to just skip them. Trading is suppose to enrich you not stress you out. I trade a lot of long term positions that i put on at night.( different type of trading) But I do all of my short term trading Law Girl type trading between 8am and 12 EST ( that way i still have a life other than only trading) and have very seldom except holidays times had a problem making 200+ pips a week. And through Money Management ,Time ,and patience those 200+ pips can increase in value form $200 to $2000 ect.... Just saying it can be done Just hang in there

Take Care
Always Learning
Quoting Fitness09
My broker uses dealbook360, so I can't use all the fancy things ya'll have on meta, but I am seriously considering switching to a broker that has meta (any suggestions). I just really need to be more disciplined. Thanks for the help.
Hey Fitness, I lurk around in this thread from time to time and saw your post. I also have Dealbook 360 through GFT, and use the free Dealbook app on my iPhone. It has an alarm that works fairly well. Not sure if this is an option for you, but thought I'd throw it out there.

Best,

RR
Quoting Road Runner
Hey Fitness, I lurk around in this thread from time to time and saw your post. I also have Dealbook 360 through GFT, and use the free Dealbook app on my iPhone. It has an alarm that works fairly well. Not sure if this is an option for you, but thought I'd throw it out there.

Best,

RR
I do use the alarm, but then I have to actually hear it, get up, and set a trade. My wife would NOT be happy with me waking her up at 3 am to set a trade. I would like it if I could have the 3 time frame RSIs on one. GFT doesn't have an app for adroid devices like it has for the iPhone, so I have to use their basic mobile app which is piece of crap.

Money mgmt is probably my weakest area. I have gotten to the point where I will not fund my acct anymore because I feel I am just giving my money away. You are correct, it does stress me out.
Quoting lawgirl21
Have you analyzed the loss? Too many trades, money management issue, too tight a SL, unrealistic TP, improper setup, impatience...go through all those things.
Hi LG:

I think self-evaluation has been a key factor for me in terms of moving from Stage 2 to Stage 3.

One of the things that has helped me is that I created a Breakout worksheet. I fill out all the information I consider before, during, and after taking a trade.

It does several things for me: 1) It slows me down; 2) It forces me to justify my decision to take the trade; 3) It provides me with a space to write my comments about the trade while I am in it, and after the trade is finished. 4) It give me a written record of all my trades, which allows me to track my growth, remind myself of the lessons that I learned, and even express my frustrations in a constructive manner.

For example, here is what I wrote after taking a failed trade last week: "You jumped into this trade before finishing this sheet. You need to prepare better. You took a bad trade, and had an opportunity to get out at Breakeven. Why didn't you take it? Get it together. You have to mechanical in your entries, and unswerving in your dedication to your process. This trade was a disaster, and you deserved to loss. You lost because of you."

While this entry might seem harsh, this level of honesty and self-reflection is helping me turn the corner.
Can anyone tell me what I am doing wrong? I say probaby 5 or 6 trades out of ten, I will execute a trade, and the market will stall either on my order line, just above it, or below it. I think this is happening too many times to be a coincedence. Can anyone shed light on this for me? I am not close to a major R/S area, but the market will just stall. Am I missing something? Thanks!
Quoting Location
Hi LG:

I think self-evaluation has been a key factor for me in terms of moving from Stage 2 to Stage 3.

One of the things that has helped me is that I created a Breakout worksheet. I fill out all the information I consider before, during, and after taking a trade.

It does several things for me: 1) It slows me down; 2) It forces me to justify my decision to take the trade; 3) It provides me with a space to write my comments about the trade while I am in it, and after the trade is finished. 4) It give me a written record of all my trades, which...
Lol, I get that from myself a lot!!
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