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  • #559,701
  • Nov 8, 2011 11:38pm Nov 8, 2011 11:38pm
Quoting Yuchen
i understand your feeling when i saw that... i had same experience last year. i short 0.1 lot UJ at 92 last summer and close at 90 to earn 200 pips, then i tried a long at 90 with s/l at 88, but when i see price drop to there, i remove my s/l and keep add more lot long around 87, 86 and 85, i had chance to escape in the middle july and aug with average b/e or just a few dollars loss but i was still dreaming UJ goesi to above 90 and did not close or s/l b/e for any of orders at lower price. But what even worse was i intially set all my s/l at 84.65...
i am glad you've made it. it's my turn to now...
  • #559,702
  • Nov 8, 2011 11:39pm Nov 8, 2011 11:39pm
Quoting Cerber.bf2
good thing is that you now learned something.
1. never remove your sl unless you have other means of protecting your capital (offsetting positions on different pairs, etc.), you see cocky people here yelling how cool they are to trade without sl, yet there is absolutely no guarantee that we'll have a spike next second/your internet or pc breaks down/you fall asleep on the keyboard etc. These people will lose their whole account one day, guaranteed
2. Take partial profits along the way or use trailing stop. I used to do both, I would take 75% profit...
thanks. hopefully, i can be really pro at trading. it will be my dream come true.
  • #559,703
  • Nov 8, 2011 11:42pm Nov 8, 2011 11:42pm
ok guys, have to go work now.bbl

happy trading

"mobile mode"
patient is my attitude, rushing is a dog
  • #559,704
  • Nov 8, 2011 11:43pm Nov 8, 2011 11:43pm
i think your 2 point is more of a personal preference.


Quoting Cerber.bf2
good thing is that you now learned something.
1. never remove your sl unless you have other means of protecting your capital (offsetting positions on different pairs, etc.), you see cocky people here yelling how cool they are to trade without sl, yet there is absolutely no guarantee that we'll have a spike next second/your internet or pc breaks down/you fall asleep on the keyboard etc. These people will lose their whole account one day, guaranteed
2. Take partial profits along the way or use trailing stop. I used to do both, I would take 75% profit...
  • #559,705
  • Nov 8, 2011 11:44pm Nov 8, 2011 11:44pm
thanks for the niee tips.


Quoting eddwel
Sorry dude....

Been there done that.... unless you start trading on conviction and not on addiction to trade you will have the same issue for a long time to come...

Used to be like you, I only trade when my conditions are met (they are not right all the time, but right enough to keep me a pip above at the end of the month that's enough for the time being)

So just jot down those paras you think are imp to go long and go short....
keep a notepad, write down why you wanna go long now, are the conditions met... if not wait... this way you can...
  • #559,706
  • Nov 8, 2011 11:51pm Nov 8, 2011 11:51pm
Quoting happytrader
yea, i had this problem too. and when i got frustrated, i removed my sl... then.. the market will go against me by 500 pips THE MOMENT I REMOVE MY SL.

THAT HAPPENED ALL THE TIME I REMOVE SL!
Happy, I wrote a full one page post for you but lost it as soon as I hit the reply button. Let me write once again, may take half an hour.
The Thief of Wall Street
  • #559,707
  • Nov 8, 2011 11:58pm Nov 8, 2011 11:58pm
Quoting tankokjian
i think your 2 point is more of a personal preference.
it is, in a way. it is a tradeoff we all gotta make. hope for more or secure what we already gained.

I used to get nothing countless times because of that before I changed my style and started scaling out and using trails.

If i can get probabilities on my side, it doesn't really matter that i only get 10-20 pips per trade, cause i'm fairly confident in each trade yielding some kind of gain rather than either zero or a big gain
  • #559,708
  • Edited 12:23am Nov 9, 2011 12:12am | Edited 12:23am
Quoting fontu
Morning , just out for safety I tight the sl for the short last night but price correctly stopped at 3860 level & now 3815 breaks may comfirm it , anyway how many times it will abc correction or complexes . so waiting see 3815 broken .minor reaction chance 3819.
fontu
so price bounce 3819 & still in bull track , now a small bo expecting after 50% fibs correction but will short it again next up to 3847 or up . day time so not worry if goes 3917 or not .broken 3815/09 will do top formation anytime.indication 3819 breaks should be positive .

what not happen yesterday will expect today if all OK . Now pullback towards 3832 start short or nearer if next those lower levels break next .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #559,709
  • Nov 9, 2011 12:14am Nov 9, 2011 12:14am
Quoting Chicky
Happy, I wrote a full one page post for you but lost it as soon as I hit the reply button. Let me write once again, may take half an hour.
oh thats soo bad
Trade responsiblypatience is the key/Swing trader
  • #559,710
  • Nov 9, 2011 12:15am Nov 9, 2011 12:15am
what shud be expected in remaining day

guys do we have some big event coming?

range is getting on my nerve now
Trade responsiblypatience is the key/Swing trader
  • #559,711
  • Nov 9, 2011 12:15am Nov 9, 2011 12:15am
Quoting Incrediblle
oh thats soo bad
1000 posts, have a beer
  • #559,712
  • Nov 9, 2011 12:21am Nov 9, 2011 12:21am
Quoting Cerber.bf2
1000 posts, have a beer
if i was getting 10$ per post then surely still not beer may be a pizaa lol
Trade responsiblypatience is the key/Swing trader
  • #559,713
  • Edited 12:33am Nov 9, 2011 12:22am | Edited 12:33am
Quoting happytrader
yea, i had this problem too. and when i got frustrated, i removed my sl... then.. the market will go against me by 500 pips THE MOMENT I REMOVE MY SL.

THAT HAPPENED ALL THE TIME I REMOVE SL!
This market is volatile and uncertain,………… therefore a trader should be consistent and certain in his/her trades

This market frequently changes direction,…… therefore a trader should infrequently change his/her direction.

This market shows consolidations and breakouts,……… therefore a trader should either play ranges or breakouts but not both.

This market makes both big and small moves, ……….therefore a trader should keep constant his/her risk (measured as percentage of capital) regardless of number of pips it moves.

This market is high risk,……..therefore a trader’s risk (measured as percentage of capital) should be inversely proportional to the number of trades. Traders focusing few big trades in a year may set their risk level per trade at a higher percentage of their capital as compared to day traders who take several trades of smaller sizes in a month.

This market makes both real and fake breakouts…………a trader may note that from Daily to 1H timeframes, it is very much possible that one out of every three breakouts is a real one, provided trader plays each major breakout in either direction with sls and tps way away from the range boundaries.

This is one way to beat this bloody market…………… and yes, what you mentioned does not happen all the time in this market, I mean not ALL the time.
The Thief of Wall Street
  • #559,714
  • Nov 9, 2011 12:25am Nov 9, 2011 12:25am
Quoting Incrediblle
if i was getting 10$ per post then surely still not beer may be a pizaa lol
Sure , me take coke for you. congratulation ! lots of successful activities then & alive .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #559,715
  • Nov 9, 2011 12:37am Nov 9, 2011 12:37am
Quoting fontu
Sure , me take coke for you. congratulation ! lots of successful activities then & alive .
fontu
thanx buddy,I have vouch for you,for your years of contribution on this forum
Trade responsiblypatience is the key/Swing trader
  • #559,716
  • Nov 9, 2011 12:44am Nov 9, 2011 12:44am
Quoting Incrediblle
thanx buddy,I have vouch for you,for your years of contribution on this forum
You reminded me of something that I haven't done in a while. Will be vouching for few in a couple of days, maybe next week-end.
The Thief of Wall Street
  • #559,717
  • Edited 1:01am Nov 9, 2011 12:50am | Edited 1:01am
Quoting Incrediblle
thanx buddy,I have vouch for you,for your years of contribution on this forum
Thanks , yeah just manage to survive & FF become habit forming , except it always feel insecure of something missing & specially miss all friends here ++ news times I often forget .
anyway started click the sell button before frankie though .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #559,718
  • Nov 9, 2011 12:51am Nov 9, 2011 12:51am
Quoting 21vs7
Lets see if this is going somewhere.
1,3862 stands still. Was pretty lucky with this SL level right there. Or were I?

Well, let us begin...

Again, this level here reminds me of a big fooked up dangerous manipulation.

We could easily see a 300 pip gain on EURUSD just to fook me up! I know I will not be the only one. Still, holding this baby till it pops.

Italy.

6,839 high today. Pretty sick. ATM 6,819%. Barclays and Goldman saying it is gonna be some bloodshed in the markets.

Greece.

Greek bond expiring in march 2012 - 320% median. Pretty fooking sick.

Equity.

Prosperity in sight. Printing is the name of the game.

S&P did not convinced me yesterday with a breach over 1.270.
DAX on the other hand on a verge to explode north. Will monitor where it will open and begin its journey.

Let us say - when 1,3830 will be resolved, we should get a clearer picture where this is heading.

Ough happy days.
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  • #559,719
  • Nov 9, 2011 12:55am Nov 9, 2011 12:55am
If it shoots up, sky seems to be the limit.
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The Thief of Wall Street
  • #559,720
  • Nov 9, 2011 1:01am Nov 9, 2011 1:01am
Quoting Chicky
If it shoots up, sky seems to be the limit.
looks you did not draw new line for long time, daily bear trend line (from may) come around 1.427
Mohan
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