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  • #417,501
  • Apr 4, 2011 10:12am Apr 4, 2011 10:12am
This is the first time that I visited this thread. I can see why lots lose in trading. Must post start out in the manner of;


Just went long I THINK it will......


that is a sure fire way to lose, not because your thinking but because your appling your actions to what your THINK may happen. In so doing you are setting yourself up to be wrong....

What I mean is once your word is placed on the trade your going to what to be right.....


You can trade the market and never be wrong in any trade you make by not appling your bias to the trade.....

trade what the market gives you. not what you want the market to give....


Yesterday I was working on documenting my indicators and took the first screen shot ..... some of the lines on that chart were hand drawn.


the second screen shot is taken just a few minutes ago. I trade the trends..... ask yourselfs now why I made no trades today.... You must trade what the market gives you. I could of traded the range but its not my style...


Keit

and yes my spelling is bad
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Reading the market.jpg Size: 92 KB
Click to Enlarge Name: Minutes ago.jpg Size: 67 KB
Trader Keit ... Methods Of A Dirt Road Mad Man....
  • #417,502
  • Apr 4, 2011 10:13am Apr 4, 2011 10:13am
Quoting FibbinArchie
I don't use an mt4 broker for orders but that would be handy for charts, what's the app please?
The app is forex on the go, but some brokers will offer the app free if you have an account with them. If your broker does not offer it you will need to to use it via forex on the go
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #417,503
  • Apr 4, 2011 10:17am Apr 4, 2011 10:17am
Quoting DarkWolF
The app is forex on the go, but some brokers will offer the app free if you have an account with them. If your broker does not offer it you will need to to use it via forex on the go
oh I got that one, free version anyway, doesn't always update and you can't tell if it's dropped the connection, my favourite used to be simplefx, but they upgraded it or something and my version doesn't work any more, my broker has just redone their iphone app and the charts on that are not too bad now...
  • #417,504
  • Apr 4, 2011 10:18am Apr 4, 2011 10:18am
Quoting FibbinArchie
I don't use an mt4 broker for orders but that would be handy for charts, what's the app please?
MIG Bank has a nice app for iphone. I've looked at most (if not all) mobile apps, and most of em are horrible. I really liked GFT's but I don't trade with them.

MIG Bank has a better real time updating feed, with up to 2 indicators at once, all the typical chart periods and such. Forex on the go Sucks in my OP, and most other forex apps use Forex on the go as their build.
  • #417,505
  • Apr 4, 2011 10:18am Apr 4, 2011 10:18am
Quoting CockeyedCowboy
This is the first time that I visited this thread. I can see why lots lose in trading. Must post start out in the manner of;


Just went long I THINK it will......


that is a sure fire way to lose, not because your thinking but because your appling your actions to what your THINK may happen. In so doing you are setting yourself up to be wrong....

What I mean is once your word is placed on the trade your going to what to be right.....


You can trade the market and never be wrong in any trade you make by not appling your bias to the trade........
excellent post and don't worry this isn't a spelling test...
  • #417,506
  • Apr 4, 2011 10:19am Apr 4, 2011 10:19am
Quoting Jordan Hall
MIG Bank has a nice app for iphone. I've looked at most (if not all) mobile apps, and most of em are horrible. I really liked GFT's but I don't trade with them.

MIG Bank has a better real time updating feed, with up to 2 indicators at once, all the typical chart periods and such. Forex on the go Sucks in my OP, and most other forex apps use Forex on the go as their build.
I'm content with my broker's app (IG Markets), very rarely use it anyway...
  • #417,507
  • Apr 4, 2011 10:20am Apr 4, 2011 10:20am
Quoting FibbinArchie
oh I got that one, free version anyway, doesn't always update and you can't tell if it's dropped the connection, my favourite used to be simplefx, but they upgraded it or something and my version doesn't work any more, my broker has just redone their iphone app and the charts on that are not too bad now...
I dont seem to have that problem with it not updating, its generally pretty good. Although I dont use it all that often anymore as really only used it when I was trading from daily charts so I could monitor positions when at work without the need of having a laptop. Dont trade too many daily charts anymore but the app does come in handy from time to time.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #417,508
  • Apr 4, 2011 10:22am Apr 4, 2011 10:22am
Quoting FibbinArchie
I'm content with my broker's app (IG Markets), very rarely use it anyway...
Ya I used to use IG before moving to MT4. I used their phone software quite a bit but that was before I had an iphhone.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #417,509
  • Apr 4, 2011 10:28am Apr 4, 2011 10:28am
EU trade stopped out, annoying when it reached my target pretty much to the pip when I lost connection.

Oh well, thats trading I guess. Thats me done for the day.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #417,510
  • Apr 4, 2011 10:28am Apr 4, 2011 10:28am
Quoting DarkWolF
Ya I used to use IG before moving to MT4. I used their phone software quite a bit but that was before I had an iphhone.
after all that, now looks like we're gonna be as you were last week, with this range activity, this'll be the third week of it, last Oct/Nov it took four weeks to complete the distribution...

could be wrong of course and thursday ecb rates is looming...
  • #417,511
  • Apr 4, 2011 10:29am Apr 4, 2011 10:29am
Quoting DarkWolF
EU trade stopped out, annoying when it reached my target pretty much to the pip when I lost connection.

Oh well, thats trading I guess. Thats me done for the day.
limit orders can have their uses...
  • #417,512
  • Apr 4, 2011 10:34am Apr 4, 2011 10:34am
Quoting FibbinArchie
limit orders can have their uses...
Something I have been trying to implement more often as of late. I have found myself trying to hold trades through reaction zones rather then taking profit, and letting price reset for it's next move. Sometimes it works out, others it doesn't.
  • #417,513
  • Apr 4, 2011 10:35am Apr 4, 2011 10:35am
Quoting Venice
Something I have been trying to implement more often as of late. I have found myself trying to hold trades through reaction zones rather then taking profit, and letting price reset for it's next move. Sometimes it works out, others it doesn't.
I love how trading is constant evolution of not only your trading skills, but of yourself as well.

Always so many little tweaks and adjustments to make sure we are as in-tune with the current market as we can be.
  • #417,514
  • Apr 4, 2011 10:36am Apr 4, 2011 10:36am
Quoting Venice
Something I have been trying to implement more often as of late. I have found myself trying to hold trades through reaction zones rather then taking profit, and letting price reset for it's next move. Sometimes it works out, others it doesn't.
You gotta think in terms of how often it'll continue and by how much compared to how often it'll retrace to kill all your open position profit, then there's scaling out, tightening up stops near reaction levels, going to sidelines and then re-entering, etc. etc. lot's of ways to skin a cat, but it needs to become second nature...
  • #417,515
  • Apr 4, 2011 10:37am Apr 4, 2011 10:37am
Quoting FibbinArchie
limit orders can have their uses...
Ya they can but im usually pretty effeicient with closing my trades at the required level, events such as these dont happen all that often, more important to always ensure you have your stop loss in just in case.

If you cant get to your order and dont have your stop in it is not a good feeling.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #417,516
  • Apr 4, 2011 10:38am Apr 4, 2011 10:38am
Quoting Venice
Something I have been trying to implement more often as of late. I have found myself trying to hold trades through reaction zones rather then taking profit, and letting price reset for it's next move. Sometimes it works out, others it doesn't.
The discipline to TP can be just as important as your SL, as quite often you will find price reversing to either hit your SL or your break even order if you have that in.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #417,517
  • Apr 4, 2011 10:39am Apr 4, 2011 10:39am
Quoting T@rantula
Yes. Everyone has the option to completely ignore everything that is posted here.

But lets give the people cues. By giving the cues, they learn. And by learning they get confidence and understanding of market moves and HIS/HER own psychology.

I am always concerned when my entries are not in agreement with some of experienced traders here. I dont trade blindly, and I have my own rules. I will always accept s/l rather then close my trade prematurely.
  • #417,518
  • Apr 4, 2011 10:41am Apr 4, 2011 10:41am
H1 Down will be stopping at a 50 level. If it breaks first 50 level I will target 2nd and so on.
Attached Image (click to enlarge)
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  • #417,519
  • Apr 4, 2011 10:42am Apr 4, 2011 10:42am
I closed 40% of my shorts and now im leaving the other one to an easy TP, 1.4194, AND GBP 1.6206
  • #417,520
  • Apr 4, 2011 10:43am Apr 4, 2011 10:43am
Quoting Venice
I love how trading is constant evolution of not only your trading skills, but of yourself as well.

Always so many little tweaks and adjustments to make sure we are as in-tune with the current market as we can be.
Indeed it is, the problem being with lots of beginner traders is the dont have the ability or the mindset to see that. The sooner you realise as a trader how trading sometimes effects you as not only the trader but the person, to control the pyschological aspects of it all the better of they become. I went thru that battle the hard way, but came out the other side much better off and much better prepared for the market
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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