That gived us more profit!
Monitor for 'Trading Made Simple' system 549 replies
Indicators for the 'Trading Made Simple' system 339 replies
At the end of the day its not how much the market has moved but how many pips you pocketed. I don't get frustrated any more when I see the market moved 500 pips and I made half of it instead of all. I know that that half is mine all mine
So get your emotions in check and leave them in the other room with your GF when trading and bring in some pips.
DislikedRight now, I am looking at EURJPY, the top one is from my Meta Trader 4 Demo, and the bottom picture is from FXDD Meta Trader Account that I just started. I'm going live baby!!! I'm looking to go long on EURJPY, but am skeptical because the first candle sort of looks like a dojistick, and the second candle isn't very strong.
Is anyone else looking at this? What are your criticisms?
Btw, FXDD is slower than my Meta Trader 4 Account.Ignored
DislikedI love the whole piece you wrote as I am also a firm believer in that. The other belief I have is Risk management and more often this is overlooked also.
So what if you missed the move of 500 pips, I promise you the market will be here again tomorrow and the day after that and it will not go away anytime soon.
Patience (sitting on your hands) is all that is needed.
Enjoy the weekend guys.Ignored
DislikedAs soon as I get over the facts, that, A - there has been a fundamental shift in a lot of currencies, Swissy, YEN, DOW down 500 Asia down 4-5%, B - this would be a counter trend trade, because C - all you can see is SELL signals on 1 hour chart, I'm writing that GEM into my Trading Plan
sorry if that seems blunt, but it is only as blunt as you losing your $$$$ have you got a stop in place or do only exit when the pain of losing 1 more dollar is greater than admitting your bias is wrong?Ignored
You could be right but yes, it'd be far too early for me to be thinking of an entry. One thing came to mind when I read your post: the old 'trade what you see, not what you think' thing. Whatever anyone says, it's a lot easier to say that than to do, I know. Just something to have in the back of your mind.
I watched the '3 amigos' (GBPUSD, EURUSD and AUSUSD) during the recent bear run. The Aussie was by far the weakest. While the other two retraced quite a bit on their way down, the Aussie fell like a stone, constantly pressing new lows....Ignored
DislikedThanks for the input ForexSam,
What's the deal with the yen now though?
In addition, I have a question about exiting, I know you're supposed to exit your trade when the green TDI line goes flat, starts to hook over or makes a checkmark reversal. Say if my stop loss is at the last highest high or lowest low, do you guys try to set like a ratio of Profit:Loss like 4:1. or 3:1? Or do you just let it ride out, and wait till the next 4 hours to see if its still pointing at the same angle.
On my demo account, I just let it ride out, if I saw...Ignored
Thank you so much for your simple system.
I hope this file can help people who are new(like me) in this system.
This is include of some important eelfranz's posts upto now.But I recommend to read all thread.Ignored