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  • #563,301
  • Nov 17, 2011 5:26am Nov 17, 2011 5:26am
Quoting cloggie
Why don't you just add to it, that seems to be the general solution here on the thread to your sort of problem.....cr@p, why lose just a little, go all in. May as well go out in a blazin' glory.
Or if your broker allows it do what the general population here calls hedging and hope for the best. Srsly, best bet to me is 3470 and that would be lucky.
  • #563,302
  • Nov 17, 2011 5:28am Nov 17, 2011 5:28am
Quoting darimik
double or nothing

Attachment

Yup, bet the farm, pawn the wife, enslave the kids, sell the mistress. The best noobie strategies are adding to losers or better yet, "hedge" it....
  • #563,303
  • Nov 17, 2011 5:28am Nov 17, 2011 5:28am
Quoting Ultimate6
Or if your broker allows it do what the general population here calls hedging and hope for the best. Srsly, best bet to me is 3470 and that would be lucky.
that word has been misused so many times now. some people deserve a serious slap.
  • #563,304
  • Nov 17, 2011 5:29am Nov 17, 2011 5:29am
Quoting darimik
that word has been misused so many times now. some people deserve a serious slap.

NAh, its a perfect strategy, none of the pros do it, but heh all the noobies think they have re-invented the wheel and have come up with something that nobody has ever thought of before, don't go bursting their bubble now, it will only end up in tears.

Adding to a loser and a good nedge (noobie hedge) is the solution to everything. No need to learn how to trade if you have that in your toolbox.
  • #563,305
  • Nov 17, 2011 5:30am Nov 17, 2011 5:30am
Quoting darimik
that word has been misused so many times now. some people deserve a serious slap.
I concur.
  • #563,306
  • Nov 17, 2011 5:31am Nov 17, 2011 5:31am
Quoting ThisPip
It is good to see somebody having fun and beeing able to enjoy
the very moment. I might allow myself my first trading cigar at
the end of this week..
Long time no see.
The dream will never die
  • #563,307
  • Nov 17, 2011 5:32am Nov 17, 2011 5:32am
It's busy making a little cluster before a run, i would recommend close here....oops too late
  • #563,308
  • Nov 17, 2011 5:33am Nov 17, 2011 5:33am
EUR gets more fat for Hunters at the for US session)) EUR bull is fake ..I think
  • #563,309
  • Nov 17, 2011 5:33am Nov 17, 2011 5:33am
Quoting cloggie
NAh, its a perfect strategy, none of the pros do it, but heh all the noobies think they have re-invented the wheel and have come up with something that nobody has ever thought of before, don't go bursting their bubble now, it will only end up in tears.

Adding to a loser and a good nedge (noobie hedge) is the solution to everything.
HEDGING NEVER WORKED FOR ME !!!

In fact it ruined my accounts every time... if you have got yourself into the position where you feel you need to hedge this ain't the game for you..

So where do we see this long running to??
  • #563,310
  • Nov 17, 2011 5:35am Nov 17, 2011 5:35am
got in very late on a long there, closed b/e +2, pretty tedious atm, may have to wait for ny..

been scalping lgs since the mid 60s... had to wait for the latest one to let me out, so upset my rhythm...
  • #563,311
  • Nov 17, 2011 5:36am Nov 17, 2011 5:36am
Quoting scalpy
If you trade like this you are doomed to failure. You’re waiting for it to go back so you can close BE? Set a logical stop when you open and don’t move it. If it gets hit, it gets hit. Look at the reasons for failure: was the entry poor, was there unexpected news, was everything according to plan but it just went against you? Learn from mistakes, chances are they will be made again. Hope has no place in trading.
I have my stops at 1.3520 but I don't want to wait till that. I think it might come something closer to 1.3460 or so. So I could close it in 20 or so pips loss rather than waiting my tp to hit.

I entered at the wrong time thinking that it was a break out. Anyways thanks for the help.
  • #563,312
  • Nov 17, 2011 5:37am Nov 17, 2011 5:37am
Quoting cloggie
Why don't you just add to it, that seems to be the general solution here on the thread to your sort of problem.....cr@p, why lose just a little, go all in. May as well go out in a blazin' glory.
No i won't do that. Because I know I entered wrong thinking it was a break out. But its okay. I am following my rules and my stop is at 1.3520, a bit above today's high.

I didn't follow your earlier call when you said it was ranging so I am paying for it now. It was my mistake so I am paying. Just waiting for a bit better rate like 3460 to close my shorts in minimum possible loss
  • #563,313
  • Nov 17, 2011 5:38am Nov 17, 2011 5:38am
Judging from current situation. I will be out from trade for a while.
  • #563,314
  • Nov 17, 2011 5:38am Nov 17, 2011 5:38am
Quoting ammarmemon
I have my stops at 1.3520 but I don't want to wait till that. I think it might come something closer to 1.3460 or so. So I could close it in 20 or so pips loss rather than waiting my tp to hit.

I entered at the wrong time thinking that it was a break out. Anyways thanks for the help.

You researched the trade, check, you got your entry, check, you got your stop, check. That's it, now let it ride. Don't go changing things around halfway before you are running scared, you should have included that in your tradeplan before you even started. If you are now worried about that stop getting hit, your stop is not the problem, your tradeplan is. So learn from it and don't go doing it again. If your stop gets hit, that is the price for the lesson, make sure you get something out of it.

The only time you can contemplate fiddling with your stops is if there is some significant change in the fundies while your trade is progressing that you hadn't planned for, other then that, it is your strategy, your plan and based on 1,000's of trades and decades of history and testing you know exactly what that plan is giving you in return, right?
  • #563,315
  • Nov 17, 2011 5:39am Nov 17, 2011 5:39am
Quoting cloggie
NAh, its a perfect strategy, none of the pros do it, but heh all the noobies think they have re-invented the wheel and have come up with something that nobody has ever thought of before, don't go bursting their bubble now, it will only end up in tears.

Adding to a loser and a good nedge (noobie hedge) is the solution to everything. No need to learn how to trade if you have that in your toolbox.
nedge... lol it looks like you just described a recipe for ultimate success
  • #563,316
  • Nov 17, 2011 5:41am Nov 17, 2011 5:41am
dax goes down...here we go....
  • #563,317
  • Nov 17, 2011 5:41am Nov 17, 2011 5:41am
Quoting cloggie
You researched the trade, check, you got your entry, check, you got your stop, check. That's it, now let it ride. Don't go changing things around halfway before you are running scared, you should have included that in your tradeplan before you even started. If you are now worried about that stop getting hit, your stop is not the problem, your tradeplan is. So learn from it and don't go doing it again. If your stop gets hit, that is the price for the lesson, make sure you get something out of it.
Thanks. I am gonna check my trading plan back and going to work on improving it.

Let the stop loss hit and make me pay. I will be more than happy to loose some amount of money if its worth learning and not making me repeat the same mistakes again.

Thank you once again.
  • #563,318
  • Nov 17, 2011 5:42am Nov 17, 2011 5:42am
Quoting darimik
nedge... lol it looks like you just described a recipe for ultimate success

Nedging and adding to losers, a br0ker's best friend.
  • #563,319
  • Nov 17, 2011 5:43am Nov 17, 2011 5:43am
Quoting ammarmemon
Thanks. I am gonna check my trading plan back and going to work on improving it.
.

How many documented trades have you tested your strategy on, if you are going to give me a number that is anything less then 10,000, you've got some work to do.

Most noobies get all excited when they get 10 or even 100 winners out of a strategy and can't wait to put their hard earned cash at risk trading live. That is just financial suicide. Treat this business for what it is, a business, you ever hear of an airline starting up after "trying" it out and thinking about it for 30 minutes? You ever hear of a pharmaceutical bringing a new product to market after a day's worth of testing?

The big boys spend hundreds of millions and hundreds of years in man hours on strategies, why do you think that is? You reckon they like to waste the time and money?????
  • #563,320
  • Nov 17, 2011 5:44am Nov 17, 2011 5:44am
If you are lucky...
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Quoting ammarmemon
I have my stops at 1.3520 but I don't want to wait till that. I think it might come something closer to 1.3460 or so. So I could close it in 20 or so pips loss rather than waiting my tp to hit.

I entered at the wrong time thinking that it was a break out. Anyways thanks for the help.
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