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  • #520,401
  • Aug 11, 2011 12:19pm Aug 11, 2011 12:19pm
Quoting kurt_chris18
almost everyday after breakfast i will manage to win 100 pips and at the end of the day il end up losing it all before going to sleep, thats almost evryday last month! why is it do you think?


take profit and turn computer off and try next day again
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #520,402
  • Aug 11, 2011 12:19pm Aug 11, 2011 12:19pm
Quoting Venice
What you need to do is have targets. Each trade needs to have a take profit, even if it's multiple points... track them out... targets #1, #2, #3 etc...

and a 'I am wrong point. Some people use stops, others close the order when price closes below a certain level.

Trade zone to zone dependant on the time frame you are looking at. If you are on the 5m, you shouldn't be targeting 100+ runs, you should be looking for 10-50(on the extreme) side.

On the other hand, on the daily, I am usually looking for 150-500(extreme again). Calculate your...
thanks for a finally senseful post in here today...



Jonas
Hero calls followed by margin calls...
  • #520,403
  • Aug 11, 2011 12:20pm Aug 11, 2011 12:20pm
Quoting TheFutureAce
my main problem is not entering successful trades but to manage the psychological path of it.

I let my trades run for +200 thinking it will go to +300 but then it goes against me. I panic and then close the trade for BE or -100

I need to train my brain...cause this forex makes me look stupid
Been there done that, plenty of times.

There is where the old worn saying, "never let a winner turn into a loser," comes in.

Just remember just because price moves a 50 or even a few hundred pips doesn't mean it can't turn right around a rocket the other way.

Drill down to the 5/15m chart and lock in BE or a few pips when you see a retrace of some sort under your entry.

I've cut out about half of my losing trades just by doing that.
  • #520,404
  • Aug 11, 2011 12:21pm Aug 11, 2011 12:21pm
Quoting kurt_chris18
almost everyday after breakfast i will manage to win 100 pips and at the end of the day il end up losing it all before going to sleep, thats almost evryday last month! why is it do you think?
It is called greed 100 pips is enough ,when you make it close computer and go do something ,some days I make 30pips and I am happy ,it is also what amount you trade
  • #520,405
  • Aug 11, 2011 12:21pm Aug 11, 2011 12:21pm
Quoting kenfen69
Hooray!

The time is near, too. Looking forward to a little weekend action, myself...feels like its been a while. Last night was long, slow and lazy...till it kicked off. I had just gone to bed then. Glad I did...needed some z's and probably wouldn't have gotten them had that started sooner.
ya went off the hook when u left lol
  • #520,406
  • Aug 11, 2011 12:21pm Aug 11, 2011 12:21pm
Quoting PhAnTi'
thanks for a finally senseful post in here today...



Jonas
Figured I should throw one in every so often so all of my posts aren't completely crap
  • #520,407
  • Aug 11, 2011 12:21pm Aug 11, 2011 12:21pm
You in the IT world too

Quoting sofia101
I am fine have to go on call today a little later ,so I will not be trading until Asia ,just checking charts)
Disclaimer: Check your 1m charts
  • #520,408
  • Aug 11, 2011 12:22pm Aug 11, 2011 12:22pm
IS ratface still long? I may have to sell a few more.....
  • #520,409
  • Aug 11, 2011 12:23pm Aug 11, 2011 12:23pm
Quoting cat
OK, kurt, listen mate. You are not diciplined, for if you were, you'd never suffer those sorts of losses. I think we have got to the bottom of your problems. You've got to have a strategy right, so do you stick to it? Bet you don't! I know about stupid losses, we all do, and they happen when we abandon our trading rules. If you cannot follow your strategy, you cannot succeed as a trader. Work on your discipline, and work on it like your life depends on it. Stick memos on your wall, do whatever you can to make sure that you do not lose your composure....
yah maybe you are right, after that 700 pip win, i aalways push myself to surpass that and il end up losing more..
not a single pip can escape my sharingan!
  • #520,410
  • Aug 11, 2011 12:23pm Aug 11, 2011 12:23pm
Quoting eqshack
take profit and turn computer off and try next day again
  • #520,411
  • Aug 11, 2011 12:23pm Aug 11, 2011 12:23pm
Quoting sofia101
It is called greed 100 pips is enough ,when you make it close computer and go do something ,some days I make 30pips and I am happy ,it is also what amount you trade
xcelant point
  • #520,412
  • Aug 11, 2011 12:24pm Aug 11, 2011 12:24pm
Quoting Venice
Figured I should throw one in every so often so all of my posts aren't completely crap
Hero calls followed by margin calls...
  • #520,413
  • Aug 11, 2011 12:24pm Aug 11, 2011 12:24pm
Always look at the lower TFs, mostly in ranging days like today. For instance.... h1 wants to go down to 4153 and it will get there eventually. However, m15 looks bottomed so we could get another move up (that is could or could not). Point is I would not short just yet if I don't want to run the risk of sitting through some DD.
Quoting KumoDragon
Been there done that, plenty of times.

There is where the old worn saying, "never let a winner turn into a loser," comes in.

Just remember just because price moves a 50 or even a few hundred pips doesn't mean it can't turn right around a rocket the other way.

Drill down to the 5/15m chart and lock in BE or a few pips when you see a retrace of some sort under your entry.

I've cut out about half of my losing trades just by doing that.
  • #520,414
  • Aug 11, 2011 12:25pm Aug 11, 2011 12:25pm
Quoting kurt_chris18
almost everyday after breakfast i will manage to win 100 pips and at the end of the day il end up losing it all before going to sleep, thats almost evryday last month! why is it do you think?
well oviously you can trade the am session.... so id stick with that and call it a day...

if u just jump into a session you are not used to trading then u can loose it realy quick
  • #520,415
  • Aug 11, 2011 12:25pm Aug 11, 2011 12:25pm
Sorry, that's what i meant. 4215 may cap longs so shorties

Quoting KumoDragon
Maybe, but I dont think so. I think price is just futzing around 4200 before another leg down.
Quoting pipper
4215 might cap it for a bit of shorties
Disclaimer: Check your 1m charts
  • #520,416
  • Aug 11, 2011 12:25pm Aug 11, 2011 12:25pm
Quoting kurt_chris18
yah maybe you are right, after that 700 pip win, i aalways push myself to surpass that and il end up losing more..
as hard as it sounds, if you don't take profits, there won't be any in the end.
  • #520,417
  • Aug 11, 2011 12:26pm Aug 11, 2011 12:26pm
Quoting pipper
You in the IT world too
IT?
  • #520,418
  • Aug 11, 2011 12:26pm Aug 11, 2011 12:26pm
Quoting kurt_chris18
almost everyday after breakfast i will manage to win 100 pips and at the end of the day il end up losing it all before going to sleep, thats almost evryday last month! why is it do you think?

take a break.. after you make 100 pips,close your PC..

if 100pips are your target.. do not even look at the screen

you do not have to be in the game all the time.
  • #520,419
  • Aug 11, 2011 12:27pm Aug 11, 2011 12:27pm
Quoting attila
Always look at the lower TFs, mostly in ranging days like today. For instance.... h1 wants to go down to 4153 and it will get there eventually. However, m15 looks bottomed so we could get another move up (that is could or could not). Point is I would not short just yet if I don't want to run the risk of sitting through some DD.
Was thinking of snagging a shortie at 4211 but were in a demand zone again, much safer to close below and retest that bad boy.
  • #520,420
  • Aug 11, 2011 12:27pm Aug 11, 2011 12:27pm
Quoting sofia101
IT?
Information Technology, Computers, etc.
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