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  • #437,761
  • May 6, 2011 6:22pm May 6, 2011 6:22pm
Quoting Astroman
Famous last words.
Do you have a set-up for next week?
  • #437,762
  • May 6, 2011 6:23pm May 6, 2011 6:23pm
Larseg & Magix thank you for your valuable input.


Yesterday i made a lot of mistakes and had to sit down and study all the mistakes and wrong signals that followed me to wrong entries. A lot of work and study to do, so i really appreciate your comments and good advices.

cheers!


PS: Magix do you trade only 1m 5m charts? what are your average positions... 5-10pips or more? As of now i try to trade only on 1h and going for 20-30pips trade with RR1:2 ratio. It played quite well untill yesterday. Was on +34% depo and lost 10% in one day.
  • #437,763
  • May 6, 2011 6:23pm May 6, 2011 6:23pm
Quoting needpips
Do you scale in? If so, could u provide some help with it...maybe how u go about a typical trade....TIA

(I have always just played with 5 lots trying to get 10-20 pips a day....but sometimes, I get stopped out and some days I have to play make up...not fun)
I always scale into positions for long term trades (daily and sometimes 4h). Scalping is a straight up in and out.

I wouldn't really ask for advice from me though in terms of long term swinging. I have yet to figure it out (I'm around a 50-60% accuracy; which is unacceptable by my standards), but i'm pretty sure most of it is psychology. 24 hours is a hell of a long time for a bar to form.
  • #437,764
  • May 6, 2011 6:25pm May 6, 2011 6:25pm
Quoting ScreenTimer
Do you have a set-up for next week?
Nope.

Fools game...

Or

One best played by suckers...

Or

One suckers are best played by....

You pick...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #437,765
  • May 6, 2011 6:26pm May 6, 2011 6:26pm
Quoting Magix
Nope.

Fools game...

Or

One best played by suckers...

Or

One suckers are best played by....

You pick...
I pick "Nope."
  • #437,766
  • May 6, 2011 6:30pm May 6, 2011 6:30pm
Quoting ScreenTimer
My set-up for next week:
why do you want to long this pair now?
  • #437,767
  • May 6, 2011 6:30pm May 6, 2011 6:30pm
Quoting ScreenTimer
Do you have a set-up for next week?
Not yet, I usually do that on Saturday evening. Especially in the wintertime. it is one of the better joys of life to put a fire on, plenty of good food and snacks, fridge full of beer and go over everything. In the summertime, well.....

I'll be go over things tonight instead of tomorrow this week. On NFP week I usually get out a day or two early so right now I am actually not burned out on the whole thing like I usually am by Friday.

Hey, I do truly wish you the best and hope all your weeks are profitable ones. But your comment reminded me of that old saying that being too cocky proceeds the fall. Be careful!
  • #437,768
  • May 6, 2011 6:33pm May 6, 2011 6:33pm
Quoting mario83
Larseg & Magix thank you for your valuable input.


Yesterday i made a lot of mistakes and had to sit down and study all the mistakes and wrong signals that followed me to wrong entries. A lot of work and study to do, so i really appreciate your comments and good advices.

cheers!
Did you go to skewl for this shit?

Did you hock yourself $60-100k in debt to learn this stuff?

If you answered no to the above 2 questions, then pat yourself on the back my friend...

You took a loss...fuck em...you're still ahead...

Market only closed for the week, not forever...you got the rest of your life, which of course may end Dec 12, 2012, to keep getting better.

None of us were born with a stamp on our ass saying "Forex Trader". We all paid our dues.

Ya got a beat down...so what...you are not exclusive.

What to do...

Shake it off...the best you will ever be, you will still lose trades...

Example, I took loss on close to 90 trades this week alone...

**Shrugs Shoulders**

Oh well...the other 386 were above zero closes...

There will be shit days and weeks in your career...don't let it get to you...

Trade when you can and should, celebrate youe victories, learn from your losers and show the rest of us how you have tamed the beast...

Keep at it brother...baptism by fire ain't always the worst thing that can happen to ya...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #437,769
  • May 6, 2011 6:39pm May 6, 2011 6:39pm
Quoting Wulfgar
why do you want to long this pair now?
That is what I was asking everyone last week when it seemed like everyone was saying 1.60 was a given and only a matter of time before 2 was hit. I was waiting for the fall. Unfortunately with 2 interest rates decisions coming out on Thursday and NFP on Friday I called it quits before Thursday big day and completely missed out on something I had been waiting for.



Oh well.
  • #437,770
  • May 6, 2011 6:39pm May 6, 2011 6:39pm
Quoting Wulfgar
why do you want to long this pair now?
Because it has reached bottom in my opinion. If Oil will not continue to go lower i will change my bias, but i really doubt it will. If we open in similar levels on Monday as we closed today, my trade set-up is in play.
  • #437,771
  • May 6, 2011 6:43pm May 6, 2011 6:43pm
Quoting Astroman
Not yet, I usually do that on Saturday evening. Especially in the wintertime. it is one of the better joys of life to put a fire on, plenty of good food and snacks, fridge full of beer and go over everything. In the summertime, well.....

I'll be go over things tonight instead of tomorrow this week. On NFP week I usually get out a day or two early so right now I am actually not burned out on the whole thing like I usually am by Friday.

Hey, I do truly wish you the best and hope all your weeks are profitable ones. But your comment reminded me...
I apologize if I sounded cocky, I just threw out my trade set-up and was hoping someone else will join my study from technical or fundamental point of view, instead I got Edgar Allan Poed....

Anyway, all the best to you and I hope you will share your set-ups when you have them ready.
  • #437,772
  • May 6, 2011 6:47pm May 6, 2011 6:47pm
Quoting ScreenTimer
I apologize if I sounded cocky,
No need to apologize, especially to me!
  • #437,773
  • May 6, 2011 6:59pm May 6, 2011 6:59pm
Quoting Astroman
No need to apologize, especially to me!
Read his words, it wasn't sincere...

After a while, you see them come and you see them go...

All of the names, all of the faces, all of the logic...mills into a blurr...

The only thing you can really learn from this place truly, is what not to do...

And a primo example is dogshit longs on a short market...

Now, I have gone threw this time and time again with my Brother, MR.VSA Malcolm...he plays safe, smart and direction of the major...much like myself, he really doesn't give a shit who wins or loses, he just wants to ride the winning bus....

Nothing wrong with this at all...except, I might be a little ADHD...

So, I short a long market and long a short market...no worries, because there is always ops to long in the same long market and short in times of short...

Define yourself as a trader...time frame and profit range...

What do you call profit, where will you cut loss.

Until something happens, everything is just speculation, and all trading philosophies look best in hindsight....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #437,774
  • May 6, 2011 7:02pm May 6, 2011 7:02pm
Quoting Magix

Market only closed for the week, not forever...you got the rest of your life, which of course may end Dec 12, 2012, to keep getting better.
I thought it was Dec 21?

You make an excellent point though about the markets will be there the next day or next week or month. It must be human nature but I think it is only natural if one takes a hard loss that one wants to immediately jump right back in and try to make it up. Usually just leads to more losses. Most of us have been there and done that at one time or another.
  • #437,775
  • May 6, 2011 7:04pm May 6, 2011 7:04pm
Quoting Astroman
I thought it was Dec 21?
12/12/12

For the rest of us dyslexics, 21/shoe/tree
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #437,776
  • May 6, 2011 7:13pm May 6, 2011 7:13pm
Quoting Magix
12/12/12

For the rest of us dyslexics, 21/shoe/tree
Hey, if you do not already think I am a jerk you might now. I do believe in all that 2012 stuff.

I do not believe in all the end of the world scaremongering that goes along with it but I do believe we will be entering a new age.

A better age.

A time for celebration and not a time for fear.
  • #437,777
  • May 6, 2011 7:18pm May 6, 2011 7:18pm
Quoting Venice
I always scale into positions for long term trades (daily and sometimes 4h). Scalping is a straight up in and out.

I wouldn't really ask for advice from me though in terms of long term swinging. I have yet to figure it out (I'm around a 50-60% accuracy; which is unacceptable by my standards), but i'm pretty sure most of it is psychology. 24 hours is a hell of a long time for a bar to form.

Appreciate the feedback.....seems many on boards kinda keep simple answers tight fisted. I think most just want to know how most trade. Not so much their trade secrets.

For instance, your simple answer. Refreshing, without pretension.
  • #437,778
  • May 6, 2011 7:20pm May 6, 2011 7:20pm
Quoting Astroman
I do not believe in all the end of the world scaremongering that goes along with it but I do believe we will be entering a new age.

A better age.

A time for celebration and not a time for fear.
I gotta couple quotes for ya, yet the vodka forbids me from naming the authors...

1. Live everday as you would celebrate the new year.
2. Live everyday as if it was your last...

And finally....my fav

3. If you live everyday like there is no tomorrow, one day, you will be right...
Quoting Astroman
Hey, if you do not already think I am a jerk you might now.
Believe me my friend, you will never have to ask what I think of you, you will already know...in an infinite space, I feel no need to conserve...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #437,779
  • May 6, 2011 7:44pm May 6, 2011 7:44pm
Quoting Magix

3. If you live everyday like there is no tomorrow, one day, you will be right...



I love it!

I am going to remember that one . Never have heard of it before but it is a good one.
  • #437,780
  • May 6, 2011 8:03pm May 6, 2011 8:03pm
Quoting Venice
Yup same here. They make it so hard to swing trade when they flip things all over the place like this. Perhaps try and focus on what big money is doing would be a better course of action right now.
I use COT Report to see where the big money is going, but their weekly report dose not include data for trades done on Thursday and Friday.
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