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  • #586,401
  • Jan 20, 2012 6:11am Jan 20, 2012 6:11am
Advice from my 20 years something of experience

IN the case you described take half the profit at +10 pips then put a stop loss at BE for the remaining and put your 50 pips target .
And go walking around

Whatever happen you will get a winner.
  • #586,402
  • Jan 20, 2012 6:11am Jan 20, 2012 6:11am
Euro Down?!!!
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  • #586,403
  • Jan 20, 2012 6:12am Jan 20, 2012 6:12am
Quoting happytrader
i'm starting to think that i'm really ass! i'e been trading over a year now - live!
plus i'm trading full time... that sucks even more

these are my results:

Nov = -100 pips
Dec = +50 pips
Jan = +24 pips so far.

please give me some good advice guys...... my target's 75 pips a week/300 pips a month.

i've tried it for so long yet i've NEVER achieve my goal.

my greatest problem is revenge trading. any experienced traders here please please share with me how i should overcome all these.... thanks.

just now, i shorted euro at 2976,...
You don't sound very happy trader! What , if you don't mind me asking, is your win/loss ratio. That's a good place to start.
  • #586,404
  • Jan 20, 2012 6:12am Jan 20, 2012 6:12am
Quoting happytrader

just now, i shorted euro at 2976, tp 50 but i closed it for 10 pips.... i hate myself for doing that, i find it extremely hard to stick to my initial tp goal.

i really really really need to do sth about this.
are you confident about your trading system?
looks like you do not trust it.
  • #586,405
  • Jan 20, 2012 6:12am Jan 20, 2012 6:12am
Quoting happytrader
i'm starting to think that i'm really ass! i'e been trading over a year now - live!
plus i'm trading full time... that sucks even more

these are my results:

Nov = -100 pips
Dec = +50 pips
Jan = +24 pips so far.

please give me some good advice guys...... my target's 75 pips a week/300 pips a month.

i've tried it for so long yet i've NEVER achieve my goal.

my greatest problem is revenge trading. any experienced traders here please please share with me how i should overcome all these.... thanks.

[b]just now, i shorted euro at 2976, tp...
75 pips a week is a reasonable plan...even though you can make way more trading eurusd only.

The sentence in bold is showing you are scared of losing, no everytime you are in profit you close it.

If you are scared of losing money you'll never make money....just set a SL and a TP twice/three times your SL and set your SL at BE when you are in profit so you'll avoid losing money.

Your 1,2976 short was a hell of a good entry btw

Your problem is only psychological...not technical because your entry was good.
COT: The precious data ignored
  • #586,406
  • Jan 20, 2012 6:14am Jan 20, 2012 6:14am
Quoting happytrader
i'm starting to think that i'm really ass! i'e been trading over a year now - live!
plus i'm trading full time... that sucks even more

these are my results:

Nov = -100 pips
Dec = +50 pips
Jan = +24 pips so far.

please give me some good advice guys...... my target's 75 pips a week/300 pips a month.

i've tried it for so long yet i've NEVER achieve my goal.

my greatest problem is revenge trading. any experienced traders here please please share with me how i should overcome all these.... thanks.

just now, i shorted euro at 2976, tp 50...

do the following:

1. Trade larger timeframes

2. Predict and write down your trade before you make it entry, SL TP and write down what would make your trade invalid once taken. IE: you go long from a low point, if the low gives you are wrong get rid.

3. Don't cut your trades early you will win more letting them run otherwise the losses will overwhelm your wins.

4. Don't buy at the high sell at the low.

5. Don't fade unless you really know how.

6. Trade S&R bands wait for it to get to one take the break either way preferably with the trend of the TF in use.
  • #586,407
  • Jan 20, 2012 6:14am Jan 20, 2012 6:14am
Quoting mohan76
most likely cds insure will file chapter 11 and CDS holder might get 10c per $
CDS holder will get peanuts BUT what about Bob's hedge fund that also bet that Greece will go bankrupt (not only Bob but also tom dick harry and hundreds more), that will hit the insurers & those backing the Insurers.
the only option for Greece is to default/go bankrupt with out doing so OFFICIALLY so as not to trigger the CDS.
  • #586,408
  • Jan 20, 2012 6:15am Jan 20, 2012 6:15am
Quoting happytrader
i'm starting to think that i'm really ass! i'e been trading over a year now - live!
plus i'm trading full time... that sucks even more

these are my results:

Nov = -100 pips
Dec = +50 pips
Jan = +24 pips so far.

please give me some good advice guys...... my target's 75 pips a week/300 pips a month.

i've tried it for so long yet i've NEVER achieve my goal.

my greatest problem is revenge trading. any experienced traders here please please share with me how i should overcome all these.... thanks.

just now, i shorted euro at 2976, tp 50 but i...
Maybe you need an indicator that eases staying in trades. I use SEFC Bull Bear (period set to 9) and very slightly smoothed heiken ashi candles. The SEFC Bull Bear is a very good scalper's trend indicator too if set to H4 or H1 (with period 9).
  • #586,409
  • Jan 20, 2012 6:15am Jan 20, 2012 6:15am
Quoting spieler
Advice from my 20 years something of experience

IN the case you described take half the profit at +10 pips then put a stop loss at BE for the remaining and put your 50 pips target .
And go walking around

Whatever happen you will get a winner.
hi, I'd like to know if in oanda is possible to close half position, and let the other run at be... but I don't think so

thx
  • #586,410
  • Jan 20, 2012 6:16am Jan 20, 2012 6:16am
Quoting happytrader
i'm starting to think that i'm really ass! i'e been trading over a year now - live!
plus i'm trading full time... that sucks even more

these are my results:

Nov = -100 pips
Dec = +50 pips
Jan = +24 pips so far.

please give me some good advice guys...... my target's 75 pips a week/300 pips a month.

i've tried it for so long yet i've NEVER achieve my goal.

my greatest problem is revenge trading. any experienced traders here please please share with me how i should overcome all these.... thanks.

just now, i shorted euro at 2976, tp 50...


Do not do calculations on monthly income, but sit and wait for the opportunities the market offers, pui wait days before they present a good ...

good trading ...
There is only one right price.... what the customer is willing to pay !
  • #586,411
  • Jan 20, 2012 6:16am Jan 20, 2012 6:16am
Quoting Xdir
CDS holder will get peanuts BUT what about Bob's hedge fund that also bet that Greece will go bankrupt (not only Bob but also tom dick harry and hundreds more), that will hit the insurers & those backing the Insurers.
the only option for Greece is to default/go bankrupt with out doing so OFFICIALLY so as not to trigger the CDS.
yep , now 50% hair cut and issue new bond for rest 50% , repeat it on maturity .
Mohan
  • #586,412
  • Edited 6:42am Jan 20, 2012 6:17am | Edited 6:42am
Hourly close above 1.2930 will make bulls strong.

So, will see. Latest when London closes.

EDIT: 30 not 15 anymore.
They think they are smarter than I am.
  • #586,413
  • Jan 20, 2012 6:17am Jan 20, 2012 6:17am
Quoting KillerWhale
Who was it that said "3 white soldiers" and it is VERY bullish?
I did.

Quoting wormboy
The euro daily downtrend had turned.

The daily now has the 3 white soldiers formation, a very potent bullish reversal pattern. I fully expect a test of the monthly pivot (3115) in the coming days before pausing temporarily. Clear that & this pair can easily climb another 400 to 500 pips.

Good luck.
Hardly a few days now is it? Give it some time.

And I am trading it as well.

Quoting wormboy
1. long @2964 sl @2600 tp @3375 (1.0)
Thank You
  • #586,414
  • Jan 20, 2012 6:17am Jan 20, 2012 6:17am
i feel your pain Happytrader - i think its a problem which affects very many traders.

i really think that its wired into a psychological thing,

I usually enter into a trade and go up e.g. 15 pips then one minute later I see that this reduced to just 7 pips ... at which point I exit,

Then I find that ten minutes later I would have made 50 pips had i waited.

its a confidence thing - if you are always trading based on your OWN research you will always feel better about losses and more confident about trades. thats my view.
  • #586,415
  • Jan 20, 2012 6:19am Jan 20, 2012 6:19am
Quoting cat
You don't sound very happy trader! What , if you don't mind me asking, is your win/loss ratio. That's a good place to start.
my win/loss is around 60%
  • #586,416
  • Jan 20, 2012 6:22am Jan 20, 2012 6:22am
Quoting kuroro001
75 pips a week is a reasonable plan...even though you can make way more trading eurusd only.

The sentence in bold is showing you are scared of losing, no everytime you are in profit you close it.

If you are scared of losing money you'll never make money....just set a SL and a TP twice/three times your SL and set your SL at BE when you are in profit so you'll avoid losing money.

Your 1,2976 short was a hell of a good entry btw

Your problem is only psychological...not technical because your entry was good.

yes, you're right, it's my mindset. i have a tendency to cover my previous losing trade with a new trade, ie. if i lose 10 pips, next trade i'll try to close it at 10 pips profit and IGNORE my tp...

i understand the risk reward ratio and it's definitely the key to successful but my stupid brain doesn't follow it ESP when i got a losing trade.
  • #586,417
  • Jan 20, 2012 6:23am Jan 20, 2012 6:23am
when the news breaks from the meeting in greece then its definatley up to 130 plus just play the waiting game..

oh and something for the weekend sir, now thats an old one..
  • #586,418
  • Jan 20, 2012 6:25am Jan 20, 2012 6:25am
Quoting Artemis21;
Euro Down?!!!
maybe yes maybe no.... just wait and see
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  • #586,419
  • Jan 20, 2012 6:25am Jan 20, 2012 6:25am
Quoting MaxDoom
do the following:

1. Trade larger timeframes

2. Predict and write down your trade before you make it entry, SL TP and write down what would make your trade invalid once taken. IE: you go long from a low point, if the low gives you are wrong get rid.

3. Don't cut your trades early you will win more letting them run otherwise the losses will overwhelm your wins.

4. Don't buy at the high sell at the low.

5. Don't fade unless you really know how.

6. Trade S&R bands wait for it to get to one take the break either way preferably with the trend...
thanks! i've written down your pointers and will READ IT BEFORE EVERY SINGLE ENTRY.
  • #586,420
  • Jan 20, 2012 6:26am Jan 20, 2012 6:26am
Quoting dean1star
when the news breaks from the meeting in greece then its definatley up to 130 plus just play the waiting game..

oh and something for the weekend sir, now thats an old one..
We have a general time estimate on that?
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