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  • #388,521
  • Feb 16, 2011 10:49am Feb 16, 2011 10:49am
Quoting Delite
The way that works best for me is to set tp and s/l and then to walk away from the pc. I'm sure that's not what the experienced guys will say, but if I nurse a trade too much I kill it every time. So long as the tp is reasonable and together with the s/l ensures that my R:R is good, I leave the rest to the market.

So far so good!

Best wishes
I try and do this, and have done it for a few over night london plays, only to wake up in the morning and see my tp missed by a pip. That can be frustrating!
  • #388,522
  • Feb 16, 2011 10:50am Feb 16, 2011 10:50am
Quoting uilymmik
can some experienced traders here tell me about how you get over the "not trusting your own judgement" phase which i seem to be stuck at forever? i keep taking profit way too early and missed out on good rides this week; i had the long from 1.3486 (lower bollinger) and chickened out at the round number. it's getting heaps frustrating!

1h adx ranging, pending short at top of bollinger at 1.3570, sl 30, tp 1.3472.
I think you are doing the perfect , move up & down your levels are wired & last long from 3486 also great . at least you are positive in your decision & trades in this market , amazing ! forget what you missed .

one thing " not trusting the own judgement" because if we determine & overconfident in any movement we may not see what actually happenning & not trust what even see by himself with full concious judgement , what mind does not know the eye does not see.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #388,523
  • Feb 16, 2011 10:50am Feb 16, 2011 10:50am
Quoting uilymmik
can some experienced traders here tell me about how you get over the "not trusting your own judgement" phase which i seem to be stuck at forever? i keep taking profit way too early and missed out on good rides this week; i had the long from 1.3486 (lower bollinger) and chickened out at the round number. it's getting heaps frustrating!

1h adx ranging, pending short at top of bollinger at 1.3570, sl 30, tp 1.3472.
The answer is in your question...

I always take profit too early, better to only capture part of the move on a regular basis, than occasionally hit a home run, but sit through a retrace back to b/e most of the time...

My two cents, and just my opinion, I'm sure others view it differently...
  • #388,524
  • Feb 16, 2011 10:50am Feb 16, 2011 10:50am
Quoting fontu
Bull progress ok , so far i see .
fontu
Hi Fontu,

what do you believe is the target to the upside? Can go higher, but maybe it is done.

Either done at 3567 or we see 3610.

Fib 162% extension at 3693
  • #388,525
  • Feb 16, 2011 10:51am Feb 16, 2011 10:51am
Quoting attila
the first step could be not reading this forum for a while, that's until you start trusting your analysis. remember our charts and analysis is the only thing we have, so you better TRUST them. there's not easy answer to this except if there is any consolation we all went through it. just have to wait it out i guess.
Yup... 1.5-2 years now for me. Just now starting to 'get it'.

My first trade ever was of October 2009.
  • #388,526
  • Feb 16, 2011 10:51am Feb 16, 2011 10:51am
t
Quoting Venice
I try and do this, and have done it for a few over night london plays, only to wake up in the morning and see my tp missed by a pip. That can be frustrating!
Boy that is frustrating! Problem is that with a few of these, you can easily lose faith in a perfectly good strategy.

Have to agree with Attila's post above - the more I read here, the less decisive I become...
  • #388,527
  • Feb 16, 2011 10:52am Feb 16, 2011 10:52am
Quoting CandleStar
Thanks for answering in detail Glen.

I sent you a PM for the software that assists you. Did you make it for yourself or can it be bought from a third source? Thanks for being so kind to answer -

The software is custom made for my trading application. I only use MT4 for charting and maintain a token account to have access to live price feed.

I will send you a reply later.
" Never let the past hold the future to ransom "
  • #388,528
  • Feb 16, 2011 10:52am Feb 16, 2011 10:52am
Quoting infinitus
Hi Fontu,

Either done at 3567
thats very important number in front of me since two days

above that i have yours 3693
  • #388,529
  • Feb 16, 2011 10:52am Feb 16, 2011 10:52am
Goddamn, did Geithner place a dollar on the floor and take a shit on it during his speech?

That thing shot up like a rocket.
  • #388,530
  • Feb 16, 2011 10:53am Feb 16, 2011 10:53am
anyone have any idea as to why would this monster almost take out the whole nights action and then come down???
  • #388,531
  • Feb 16, 2011 10:53am Feb 16, 2011 10:53am
that sounds about right. I think i have over 6-7000 trades and i still have moments when i doubt. when that happens, i stand up and slap myself. it works. LOL

Quoting Venice
Yup... 1.5-2 years now for me.
  • #388,532
  • Feb 16, 2011 10:54am Feb 16, 2011 10:54am
Quoting mohan76
i have mistakenly place stop buy instate of limit sell, end up in sweet surprise +15 pip
Do that more often. Good pips come to good hearts :-)

I had this experience yesterday. I intended to order 2 lots and ordered 20 without noticing it. After +32 pips I noticed my "fault" and closed the position with a smile on my face.

But anyway: that should not happen
  • #388,533
  • Feb 16, 2011 10:55am Feb 16, 2011 10:55am
Quoting Delite
The way that works best for me is to set tp and s/l and then to walk away from the pc. I'm sure that's not what the experienced guys will say, but if I nurse a trade too much I kill it every time. So long as the tp is reasonable and together with the s/l ensures that my R:R is good, I leave the rest to the market.

So far so good!

Best wishes
yeh... i realised i only ever get decent sized profits from sleeping on a trade or being stuck out in whoop-whoop without a computer. should really do a set-n-try-to-forget ay.
  • #388,534
  • Feb 16, 2011 10:55am Feb 16, 2011 10:55am
Quoting Shah22
short done at 3566 with sl 19 pips.. target 3515..
closed half at 3530.. +25.. let other stop moved to break even
  • #388,535
  • Feb 16, 2011 10:56am Feb 16, 2011 10:56am
warships in the canal

Inserted Video
those who can, do. those who cant, talk about those who can
  • #388,536
  • Feb 16, 2011 10:56am Feb 16, 2011 10:56am
Quoting infinitus
Do that more often. Good pips come to good hearts :-)

I had this experience yesterday. I intended to order 2 lots and ordered 20 without noticing it. After +32 pips I noticed my "fault" and closed the position with a smile on my face.

But anyway: that should not happen

It just goes to show us, that no matter how solid our strategy and view of market, we can always be wrong.

It is certainly a nice surprise when a wrong analysis brings you pips by mistake.

As they say, two negatives = positive :-)

The math is always there. LOL
  • #388,537
  • Feb 16, 2011 10:57am Feb 16, 2011 10:57am
Quoting Venice
Yup... 1.5-2 years now for me. Just now starting to 'get it'.

My first trade ever was of October 2009.
Well I got a year on you Venice, started at the 08 crash, but even so it's taken me this long to start having half a clue as to what's going on and I've been doing 10 hours a day+ solidly for the past 18 months...

I find that there are a group of consistent traders on here that are well worth listening to...

I figure it's worth it, once you get it cracked then you got the best profession in the world ('cept maybe premiership footballer or F1 driver) and I love it in any case...
  • #388,538
  • Feb 16, 2011 10:57am Feb 16, 2011 10:57am
Quoting T@rantula
Sold....

83.72

TP: 83.10

S/L 35 pips
Actuall Im still keeping it and now I will post the chart...ADDED even more shorts.

2nd entry was SHORT 83.90..that was a high probability trade.
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  • #388,539
  • Feb 16, 2011 10:57am Feb 16, 2011 10:57am
Short @ 3550 TP: 1.3500 SL: 1.3575
  • #388,540
  • Feb 16, 2011 10:57am Feb 16, 2011 10:57am
Quoting pinkiaiii
Where the Y wave would bring us according to your calculations.thx
Hi Pinkiaiii,

see here:

http://www.forexfactory.com/showpost...stcount=388581
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