Got stopped out...Seems I screwed this time. Well, will wait for another opportunity, then.
"I was here, too bad you weren't"
Those who say it cannot be done should not interrupt those who are doing it
- #8,081
- Nov 7, 2011 9:53am Nov 7, 2011 9:53am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
"I was here, too bad you weren't"
- #8,082
- Nov 7, 2011 9:53am Nov 7, 2011 9:53am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
I don't care which way the market is going as long as it's going my way
- #8,083
- Edited 10:13am Nov 7, 2011 9:57am | Edited 10:13am
Hmm, maybe I misplaced my SR lines. Where does this S/R area lay according to you?
Good luck.
- #8,084
- Nov 7, 2011 9:58am Nov 7, 2011 9:58am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
I know it's hard to be patient when you have another job to go to. Unfortunately the market makes it's own time. It is like waiting for the telephone repair man. He shows up when he is good and ready and if you just step out to go buy bread and milk, he will show up and leave you a note.
"I was here, too bad you weren't"
If there was easy money lying around,no one would be forcing it into your
- #8,085
- Nov 7, 2011 9:59am Nov 7, 2011 9:59am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
I give you a whole pack for today.
Thanks
If there was easy money lying around,no one would be forcing it into your
- #8,086
- Nov 7, 2011 10:00am Nov 7, 2011 10:00am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
I give you a whole pack for today.
Whenever I try a tailor made, it tastes like poison, I feel dizzy and get nausea. Kind of reminds me of holding a short on the Euro while it rallies for no apparent reason
Those who say it cannot be done should not interrupt those who are doing it
- #8,087
- Nov 7, 2011 10:01am Nov 7, 2011 10:01am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
How about Daily chart - Less noise - Better for him
Those who say it cannot be done should not interrupt those who are doing it
- #8,088
- Nov 7, 2011 10:04am Nov 7, 2011 10:04am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
I am curious, I hope it isn't unkind to ask, but what % of bad trades do you get? I don't remember any losers posted, so seems you got nice win/lose ratio
Of those, 2 losers, 0.73 % loss of account balance, but have increased account balance 3.37% so far this month including taking loss.
The last trade lost was operator error with itchy trigger finger.
Most recent trade has recovered 60% of last loss which was 50% of total losses.
Personally, I do not allow bad trades to take more than 0.5% of account, as it allows me to feel okay with loss and more quickly find entry to recover.
Hope this answers question.
Will kill trade if 1.3880 busted and take my 32 pips on most recent
- #8,090
- Nov 7, 2011 10:09am Nov 7, 2011 10:09am
34 trades this month as I only trade part-time at present due to other business.
Of those, 2 losers, 0.73 % loss of account balance, but have increased account balance 3.37% so far this month including taking loss.
The last trade lost was operator error with itchy trigger finger.
Most recent trade has recovered 60% of last loss which was 50% of total losses.
Personally, I do not allow bad trades to take more than 0.5% of account, as it allows me to feel okay with loss and more quickly find entry to recover.
Hope this answers question.
Maybe I should start demo-learning and testing THV then 
- #8,091
- Nov 7, 2011 10:15am Nov 7, 2011 10:15am
- | Membership Revoked | Joined Aug 2011 | 7,263 Posts
If there was easy money lying around,no one would be forcing it into your
- #8,092
- Nov 7, 2011 10:18am Nov 7, 2011 10:18am
Daily - Less SL's
Will take into consideration when I will be reevaluating my methods.ADD: Hmm, I must watch out not to take "revenge trades" as they are bad by definition. Still, on M1 it looked convincing to me that at least an attempt down will be made, so I entered a short @1.3625. SL will be at BE soon (hopefully
). Gofer, be careful, my magic abilities may soon cause EUR to skyrocket ADD: Oh, SL already at BE. Either it will work, and the day won't be red, or it will fail, and there will be one loosing trade. Will see.
ADD2: ... First TP missed by 3 pips
Oh well, I have an exam in half an hour, so I go. It is up to the market if it returns money or not ADD3: How come I missed Rod's system sell signal? Maybe I got bullish biased xD
- #8,093
- Nov 7, 2011 10:30am Nov 7, 2011 10:30am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
It can be used with S&R, TL's, channels, and fibs for entries for intraday or position trading.
Key to losers and winners though are based on being able to take loss without emotion when bad decision made, and profits maximized by taking partial off table and run with rest for possibly getting extra. This has to be based on your comfort....no one else
- #8,094
- Nov 7, 2011 10:33am Nov 7, 2011 10:33am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
Okay, you have the point
ADD: Hmm, I must watch out not to take "revenge trades" as they are bad by definition. Still, on M1 it looked convincing to me that at least an attempt down will be made, so I entered a short @1.3625. SL will be at BE soon (hopefully
ADD: Oh, SL already at BE. Either it will work, and the day won't be red, or it will fail, and there will be one loosing trade....
- #8,095
- Nov 7, 2011 10:35am Nov 7, 2011 10:35am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
I don't care which way the market is going as long as it's going my way
- #8,097
- Nov 7, 2011 10:43am Nov 7, 2011 10:43am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
[quote=PipKiller;5109906]IIRC you said earlier your broker was going to have micro lots available. This will also allow you greater flexibility to adjust position size to the stop loss needed.
I'd recommend a look at Sam Seidens Supply and demand webinars It's how I trade and it works very well for swing and intraday trades using 60, 240 and daily time frames. It's a good way to figure out where to enter and where to place a stop and when other popular trading styles like fibs, moving averages, support resistance etc all line up with a supply/ demand level it's an odds enhancer.
Having a job or school or both I'd recommend a swing or position trading strategy where you can set it and forget it. Put in you limit, SL and targets and let it happen. Much easier on the mind and wallet.
Personally I don't like trading smaller timeframes than the 60. Too much stress and too easy to get a whipping.[/quote]
Not neccessarily. Scalpers use higher time frames for support and resistance and fibs and channels, etc. Scalping smaller timeframes to find good entry point can occasionally turn a scalp into a good intraday trade if momentum goes your way, making it a set and forget. OR, get your pips and get the H-E- double toothpicks out of dodge.
I'd recommend a look at Sam Seidens Supply and demand webinars It's how I trade and it works very well for swing and intraday trades using 60, 240 and daily time frames. It's a good way to figure out where to enter and where to place a stop and when other popular trading styles like fibs, moving averages, support resistance etc all line up with a supply/ demand level it's an odds enhancer.
Having a job or school or both I'd recommend a swing or position trading strategy where you can set it and forget it. Put in you limit, SL and targets and let it happen. Much easier on the mind and wallet.
Personally I don't like trading smaller timeframes than the 60. Too much stress and too easy to get a whipping.[/quote]
Not neccessarily. Scalpers use higher time frames for support and resistance and fibs and channels, etc. Scalping smaller timeframes to find good entry point can occasionally turn a scalp into a good intraday trade if momentum goes your way, making it a set and forget. OR, get your pips and get the H-E- double toothpicks out of dodge.
- #8,099
- Nov 7, 2011 10:56am Nov 7, 2011 10:56am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
I don't care which way the market is going as long as it's going my way
- #8,100
- Nov 7, 2011 10:59am Nov 7, 2011 10:59am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
Some people just kill it scalping. I don't like it. I always feel like I have to baby sit it no matter how good the entry was. Too much stress for me and too easy for me to lose focus on the bigger picture and let emotion take over. I'm retired. This isn't supposed to feel like work LOL.
I work alot and need to get my pips and/ or lock a runner up and not worry.
But that's why ice cream not just in Vanilla!