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  • #427,821
  • Apr 25, 2011 2:06pm Apr 25, 2011 2:06pm
Quoting lolygagv2
petty, another paranoid trader... Nobody cares, share the wealth. There's nothing new or secret out there, it's like basketball, there's no "secret" training style, just people who utilize techniques better, are more creative or have better discipline.
I agree there is no point to trying to explain it as my mind works differently than yours or his. And even if I COULD IT WOULD TAKE ME THE BETTER PART OF THE DAY AND THEN PEOPLE WOULD DISAGREE AND SOFORTH .... so you see there really is no point to try to explain the way I look at a chart I just want others opinions if they think it might go south and why? so far im up+18 pip no big deal really as i lost 350 pip last week. Trying to recoup finacially and emotionally. But you are right there is no secret.
Ambition
  • #427,822
  • Apr 25, 2011 2:09pm Apr 25, 2011 2:09pm
Quoting lolygagv2
petty, another paranoid trader... Nobody cares, share the wealth. There's nothing new or secret out there, it's like basketball, there's no "secret" training style, just people who utilize techniques better, are more creative or have better discipline.
Exactly. First, nobody else will ever even be able to use a strategy not created by himself, since one has to understand it completely (so everybody has to create his own one and this is a very long process including backtesting).

Second, and you can verify that using an EA that opens and closes positions randomly, the strategy and indicators is, to put it in one word, irrelevant. It only gives you the possibility to quantify your strategy, and it gives you confidence to not trade discretionary and emotionally, which is important. Whats most important though is money management only.
The goal is to be in the market when your type of trade hits (according to your strategy) and to preserve your money while not. Then you have to have the balls to hold on to your winning trades, since those few trades have to recover earlier losing probes.
Which strategy you use is not important, only that you follow it, since only this can be quantified and backtested. The rest is experience and being tuned in the current situation.
  • #427,823
  • Apr 25, 2011 2:12pm Apr 25, 2011 2:12pm
Who's buying?
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  • #427,824
  • Edited 2:16pm Apr 25, 2011 2:13pm | Edited 2:16pm
Quoting talentfx
so far im up+18 pip
congrats, keep going!

Quoting talentfx
i lost 350 pip last week. Trying to recoup finacially and emotionally.
oh, sorry to hear. btw, last week was not an easy week, it had movements that do not occur very often, a trend rebound, I missed it myself.

A tip - to not getting involved emotionally, trade your strategy that you have backtested before. Then you will have nothing to fear and have nothing done wrong according to it, and you may be able to improve by adjusting your strategy. Markets wait for and rob emotional traders, they catch them like sheep to earn their money as their profits .
  • #427,825
  • Apr 25, 2011 2:15pm Apr 25, 2011 2:15pm
Quoting kenfen69
Who's buying?
Maybe with these? ROFL-MAO! Classic!
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  • #427,826
  • Apr 25, 2011 2:16pm Apr 25, 2011 2:16pm
Quoting frevd
congrats, keep going!



oh, sorry to hear. btw, last week was not an easy week, it had movements that do not occur very often, a trend rebound, I missed it myself.

A tip - to not getting involved emotionally, trade your strategy that you have backtested before. Then you will have nothing to fear and have nothing done wrong according to it, and you may be able to improve by adjusting your strategy. Markets wait and abuse emotinal traders, they catch them to earn their money as their profits .
no Im REALLY PISSED ABOUT IT BECAUSE MY METHOD SAW IT I just didnt react and I didnt cut my losses I just sat there and watched them run 350 pips I shouldve cut after the first fifty just that physcological thing I have to get over my method is dynomyte just need to follow my rules I did not hence a massive loss with a huge position RATS....LOL the other thing is with such a big loss my betting power is halved so it will take me three times as long just to break even I love trading but it is not easy anyone who says that is a fool Ive said it and I take it back. even most of the traders on this thread kept telling me to get out but i wouldnt listen pride its a killer.
Ambition
  • #427,827
  • Apr 25, 2011 2:21pm Apr 25, 2011 2:21pm
I'm long since 1.4558 and I am planning to take profit above 1.46

Anyone thinking that there will be a another serious pullback in EURUSD like last week?
  • #427,828
  • Apr 25, 2011 2:23pm Apr 25, 2011 2:23pm
Quoting talentfx
no Im REALLY PISSED ABOUT IT BECAUSE MY METHOD SAW IT I just didnt react and I didnt cut my losses I just sat there and watched them run 350 pips I shouldve cut after the first fifty just that physcological thing I have to get over my method is dynomyte just need to follow my rules I did not hence a massive loss with a huge position RATS....LOL
We all went through these situations several times. Take it as something you can learn from, this is important (and hopefully not too expensive) and there is no way to skip that part of experience.

One thing to remind you - would you ever sit and watch profits run the same way you sit and hope for a losing position to recover? That's the famous greed & fear or ego style of trading, which will in no way help you to become profitable. You should know that there is no secret, that nobody knows where the price will go, so there is no need to be mad about you when you predicted wrongly, just don't try to be correct, then you will learn to get out early whenever the prediction does not meet the reality.

It is very very important to get out of position that do not behave as you thought as early as possible, you can always re-enter, but you can not always recover big losses.
  • #427,829
  • Apr 25, 2011 2:24pm Apr 25, 2011 2:24pm
ok Im out of my position +14 trading is done until sain opens anyway see you all later.
Ambition
  • #427,830
  • Apr 25, 2011 2:25pm Apr 25, 2011 2:25pm
How the FOMC announcement, press conference will unfold


Should be interesting.
  • #427,831
  • Apr 25, 2011 2:26pm Apr 25, 2011 2:26pm
Quoting frevd
We all went through these situations several times. Take it as something you can learn from, this is important (and hopefully not too expensive) and there is no way to skip that part of experience.

One thing to remind you - would you ever sit and watch profits run the same way you sit and hope for a losing position to recover? That's the famous greed & fear or ego style of trading, which will in no way help you to become profitable. You should know that there is no secret, that nobody knows where the price will go, so there is no need to be mad...
You are very smart I like that dont try to be correct that is the truth the market is always right Im not thanks for the words of encouragement.
Ambition
  • #427,832
  • Apr 25, 2011 2:32pm Apr 25, 2011 2:32pm
This is starting to feel propped up instead of accumulated...we shall see soon! TT
  • #427,833
  • Apr 25, 2011 2:32pm Apr 25, 2011 2:32pm
Quoting talentfx
You are very smart I like that dont try to be correct that is the truth the market is always right Im not thanks for the words of encouragement.
You're welcome.
Btw, the market is not a concious individual, it is the result of all actions.
They even could all be wrong, but it wouldn't pay to chase a wrong market since it is always stronger than you, there is no point of being right or wrong when all you want is to profit from predictions .

If you are in control of yourself and limit your risk (I know this is hard if there are so wonderful opportunities trying to seduce you), you will be better off than the emotional retail traders that are attacked from all sides and react as worse as it can be for them. Don't panic and trade .
  • #427,834
  • Apr 25, 2011 2:37pm Apr 25, 2011 2:37pm
Im back in long I think this still has a lot of upside potential
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Ambition
  • #427,835
  • Apr 25, 2011 2:41pm Apr 25, 2011 2:41pm
My levels to watch:
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  • #427,836
  • Apr 25, 2011 2:42pm Apr 25, 2011 2:42pm
Quoting talentfx
Im back in long I think this still has a lot of upside potential
M5 is forming a triangle, maybe you're lucky and get an upper breakout.
If you see heavy dumping instead, you're probably wrong.
With some experience, you can estimate the sentiment by looking at the price changes (is there panic, is their a specific technical target, who is in control, buyer or seller etc.). But be warned, scalping as you seem to do is nothing for novices, you can make lots of small winning trades with a magnifying glass, but the first hit will burn or even destroy you.
To be successful in markets you have to be there where nobody else is, and to do what nobody else would consider to do (that's the service you're paid for being a trader).
  • #427,837
  • Apr 25, 2011 2:46pm Apr 25, 2011 2:46pm
Quoting talentfx
Im back in long I think this still has a lot of upside potential
.
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  • #427,838
  • Apr 25, 2011 2:46pm Apr 25, 2011 2:46pm
Apparently the upraising usdx halt & should test the low again & if not bear continue .so up eu & gold again.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #427,839
  • Edited 3:03pm Apr 25, 2011 2:47pm | Edited 3:03pm
Quoting talentfx
Im back in long I think this still has a lot of upside potential
talented, next time if you want to be in early when a breakout occurs, put buy and sell limits above and below the range channel rather than entering blind and hoping for the best. It will still pay if the breakout is real. And if it is real, you can also enter afterwards, which is even more safe, but costs you some pips.

--
what broker are you with? you better make sure your broker likes what you're doing, or trade longer term so he's got no chance to block you or hunt your sl.

EDIT: one hour till roll-over (at least for me), not the right time to enter very short-term trades.
  • #427,840
  • Apr 25, 2011 3:04pm Apr 25, 2011 3:04pm
And again...

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