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High velocity trading

  • #1,721
  • Oct 19, 2011 1:04am Oct 19, 2011 1:04am
Quoting Exsilium
Ive been trading for almost 4 years now, and I still look for advice and education, its never ending process.

However, I will tell you this... FEAR and GREED are your two biggest enemies. You need to define your OWN rules/triggers and trade them no matter what. You can change your rules, but never let FEAR or GREED make you ignore your rules.

.02 lots with $500 is safe IMHO, however, IMHO your going the wrong direction. You should BUY LIMIT at that level, not SELL STOP. Long term trend, for now until the end of time is UP.

Ex
also i feel like my luck always go against my orders
yesterday i had short @1639 with TP @1628 and my equity was wiped at 1645 and after 1647 PA went to 1625. so now i'm kind of scared of my own luck
  • #1,722
  • Oct 19, 2011 1:40am Oct 19, 2011 1:40am
GOLD SHORT sold @ current TP 1628
  • #1,723
  • Oct 19, 2011 1:53am Oct 19, 2011 1:53am
Quoting ruffryders
GOLD SHORT sold @ current TP 1628
Hello RR,

I'm following you since last 1 month and your post helped me alot.

can you help me in deciding my current action.

Thanks.
  • #1,724
  • Oct 19, 2011 1:55am Oct 19, 2011 1:55am
Quoting greedywolf
also i feel like my luck always go against my orders
yesterday i had short @1639 with TP @1628 and my equity was wiped at 1645 and after 1647 PA went to 1625. so now i'm kind of scared of my own luck
I found myself in a simliar position after the near $400 drop, so i put in a SELL STOP at 1599 when it had retreated to 1630... price fell to my order, and promptly turned around and ive been stuck in that 1599 short for two weeks now and I just want to get out as soon as i can without to much of a loss.

Im not a fan of stop losses. Typically once I enter a trade I sit there and watch it until its closed. If i have to leave the computer and the trade is positive I put SL at BE.

This is one of those things youll have to figure out on your own unfortunately. Only you know what you can deal with financially and emotionally.

I lost 30k or so in my first 2 years of trading and from what I understand thats pretty normal in the FX world. Im better now, but I am by no means qualified to do this, lol.

Ex
  • #1,725
  • Oct 19, 2011 2:03am Oct 19, 2011 2:03am
Quoting greedywolf
Hello RR,

I'm following you since last 1 month and your post helped me alot.

can you help me in deciding my current action.

Thanks.
With all due respect to RR and his thread, you have to be careful blindly following the trade advice/signals of others. I follow his thread to confirm my own ideas, but sometimes I ignore his ideas altogether based on my own rules.

I strongly suggest that you read the first couple of pages in this thread, get the indicators, apply them and learn what he is trying to teach us.
  • #1,726
  • Oct 19, 2011 2:09am Oct 19, 2011 2:09am
Quoting Exsilium
With all due respect to RR and his thread, you have to be careful blindly following the trade advice/signals of others. I follow his thread to confirm my own ideas, but sometimes I ignore his ideas altogether based on my own rules.

I strongly suggest that you read the first couple of pages in this thread, get the indicators, apply them and learn what he is trying to teach us.
Hi Exsilium,

as I said I'm following RR since last month and I'm also using the indicators and read almost every week initial pages of this thread and learning everyday something new.

this is why I asked him for help in this new beginning
  • #1,727
  • Oct 19, 2011 2:42am Oct 19, 2011 2:42am
Quoting Exsilium
With all due respect to RR and his thread, you have to be careful blindly following the trade advice/signals of others. I follow his thread to confirm my own ideas, but sometimes I ignore his ideas altogether based on my own rules.

I strongly suggest that you read the first couple of pages in this thread, get the indicators, apply them and learn what he is trying to teach us.
Now you can enjoy your ideas on your own my friend, tired of your BS posts. Thanks!
  • #1,728
  • Oct 19, 2011 3:41am Oct 19, 2011 3:41am
Quoting ruffryders
GOLD SHORT sold @ current TP 1628
Looking to TP 50% soon. TP2 adjusted to 36
  • #1,729
  • Oct 19, 2011 5:06am Oct 19, 2011 5:06am
i wait to more move at Gold.Short , target 1630.
  • #1,730
  • Oct 19, 2011 7:00am Oct 19, 2011 7:00am
Quoting stevebalmmer
i wait to more move at Gold.Short , target 1630.
Steve there is no waiting. Proper short was around 55-58 area and TP around 30. I did take 50% TP @ 45. now more downside to follow (TP @ 30).
  • #1,731
  • Oct 19, 2011 7:29am Oct 19, 2011 7:29am
Trend is this time short, entry at 1655,my TP is 1645
Quoting ruffryders
Steve there is no waiting. Proper short was around 55-58 area and TP around 30. I did take 50% TP @ 45. now more downside to follow (TP @ 30).
  • #1,732
  • Oct 19, 2011 8:07am Oct 19, 2011 8:07am
thanks God i have an access now - it's my first post and i've started here
RR : like your line

i'm still out, wating for moving 45-30 to buy
  • #1,733
  • Oct 19, 2011 8:18am Oct 19, 2011 8:18am
as my previous (1) post was reviewed, time was gone and now its late..
RR do u still wait for 30?
  • #1,734
  • Oct 19, 2011 9:08am Oct 19, 2011 9:08am
Quoting magicgate
as my previous (1) post was reviewed, time was gone and now its late..
RR do u still wait for 30?
It's not time to buy. We are below MP and WP. You can wait for TL M30 break and ENTER SHORT. TP could be reached @ 25-30. Unless we break above 64 level I don't see a good reason to get in LONG now.
  • #1,735
  • Oct 19, 2011 9:14am Oct 19, 2011 9:14am
http://img444.imageshack.us/img444/1...3019102011.png

Here's an M30 GOLD TL setup, both scenarios could be cashed out if entered properly. Wait for a decent break out and then once M30 candle close confirms either a SHORT/LONG trade enter the trade SL5 TP 25 I think is reasonable.
  • #1,736
  • Oct 19, 2011 9:17am Oct 19, 2011 9:17am
http://img710.imageshack.us/img710/8...h119102011.png

Same deal here on GOLD H1, just a different TL. M30 close above this TL = signal to get in LONG for 88-92 area. M30 close below 40 area signal to SHORT SELL TP @ 25
  • #1,737
  • Oct 19, 2011 8:13pm Oct 19, 2011 8:13pm
Eu..Ud... 4 hr chart

Ireckon this is going down cause of what i see on the USDIndex chart day.. 4 hr and 1 hr.. But it must break below 2 lower hoz lines first .. they represent.. Week and Mth PPXs.. if below here will look to go to 3400/3450 ish point..Could be total wrong thou .. like i was yerday..
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 16 KB
  • #1,738
  • Oct 19, 2011 8:20pm Oct 19, 2011 8:20pm
FK... ..RR sorry about indicators.. here is the rite clean chart..was FKNG shure there was none on.. will check every chart be foore i post from now..
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 14 KB
  • #1,739
  • Oct 19, 2011 9:24pm Oct 19, 2011 9:24pm
USDCAD.. 4 hr.. looking to buy above 233.. mth pivot.. cluster of lines at base represent.. 1/4 mid point and weekly pivot support lines.. also note the 618% and 50% fibo points..target would be weekly PPX 1.0130 or hier.. 1.0400 could be done.. in my opn... really like this patten.. All just my opn of course..
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 13 KB
  • #1,740
  • Oct 20, 2011 12:16am Oct 20, 2011 12:16am
Quoting ruffryders
http://img710.imageshack.us/img710/8...h119102011.png

Same deal here on GOLD H1, just a different TL. M30 close above this TL = signal to get in LONG for 88-92 area. M30 close below 40 area signal to SHORT SELL TP @ 25
Obviously TP was reached and now looking to re-enter SHORT upon break below 1600. TP @ 1540-60 area. Might take some time though.
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