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  • #586,421
  • Jan 20, 2012 6:26am Jan 20, 2012 6:26am
Quoting happytrader
thanks! i've written down your pointers and will READ IT BEFORE EVERY SINGLE ENTRY.
Why not have them tattoeed on the back of your mouse hand...
  • #586,422
  • Jan 20, 2012 6:27am Jan 20, 2012 6:27am
No deal on Greek debt talks. Meetings to continue at 6:30 CET instead of decision being announced as earlier reported they would be at 11:30 London.

Edit ... that's 17:30 GMT
  • #586,423
  • Jan 20, 2012 6:28am Jan 20, 2012 6:28am
Quoting wormboy
I did.



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

And I am trading it as well.
Eyeing 1,3250 on the daily
I'll start buying below 1,284x

Good luck with you...cya on the top!
COT: The precious data ignored
  • #586,424
  • Jan 20, 2012 6:30am Jan 20, 2012 6:30am
Quoting happytrader
my win/loss is around 60%
That is good, better than many of the pros. Your problem is more psychological then. You are not trusting yourself or your system and if you have an exit strategy, you don't trust that either. Your problem is one shared by nearly every trader out there at some point in their career. Try doing this, coz it works for me. Before bailing out of a perfectly good trade like you did toady, put yourself in the minds of all the other traders out there who are in the trade. then ask yourself if there is any reason why they should all start bailing out as you have done, because by getting out of a trade too early, that is precisely what you are anticipating that they are doing. The price does not just stop without a reason, and traders will take it down or up to a technical level, where they will then take profits. Trust yourself, trust your system, and you'll do great. And btw, that was a blinder of an entry you had there!!
  • #586,425
  • Jan 20, 2012 6:31am Jan 20, 2012 6:31am
Short from 1.2920 closed at be
Short from 1.2980 still holding
  • #586,426
  • Jan 20, 2012 6:32am Jan 20, 2012 6:32am
Hi guys

Ive read some posts from you guys,and im surprised how you guys can enter a trade watch it go up 15 pips then watch it go down to 7pips and then just close.

Also losing 15 pips the trade before and then closing at 15 pip gain the trade after just seems logical but i think you guys are giving your self a weak chance to succeed.

You need to have good money management techniques, so if your risking 2% a trade, it shouldunt matter if your stop loss is 50 pips or 100 pips, you should only risk 2% but working out your position size.

If your trading without a stop loss, thats even more dangerous in these market conditions. Im not an expert, but ive had a forex education for 4 months now, by traders from london and my results have improved. 6 Months before joining them, i was making the same mistakes as you guys.

Many Thanks
  • #586,427
  • Jan 20, 2012 6:33am Jan 20, 2012 6:33am
market mood clearly visible as should i go down or up...down or up ...down or up....it is more confused than traders here....
  • #586,428
  • Jan 20, 2012 6:33am Jan 20, 2012 6:33am
this game is not for....
Attached Image
Trade responsiblypatience is the key/Swing trader
  • #586,429
  • Jan 20, 2012 6:34am Jan 20, 2012 6:34am
Quoting Crassius
No deal on Greek debt talks. Meetings to continue at 6:30 CET instead of decision being announced as earlier reported they would be at 11:30 London.

Edit ... that's 17:30 GMT
This came from.. ?
  • #586,430
  • Jan 20, 2012 6:35am Jan 20, 2012 6:35am
Quoting ali_baba
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.
yea, it feels really really bad when this happens.
  • #586,431
  • Jan 20, 2012 6:36am Jan 20, 2012 6:36am
Speculation of a Greek agreement has been reached for its
voluntary PSI deal continues to do the rounds. According to Greek
newspaper Proto Thema, The entire Greek debt is replaced by a 30-year
bond term and the coupon on the new bonds (which will replace the oldest
existing haircut) will be 3.10% and will rise to 3.90% and go up to
4.75%. "Greece will pay the first year only interest and then interest
and principal", added Proto Thema, citing sources. The website adds
that banks, institutional investors etc. will get a 50% haircut, of
which 15% will be cash and 35% of the new bond. The final terms are
expected to be announced Friday afternoon by the head of the
International Financial Institute (IIF) Charles Dalaras, added Proto
Thema.
  • #586,432
  • Jan 20, 2012 6:36am Jan 20, 2012 6:36am
Quoting happytrader
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.
Remember the 14 year old kid buma? That kid taught me the importance of high probability trades, i wait for the right time for my intra day trades such that my SL are almost hardly ever challenged unless my analysis was wrong in the first place

Remember, being right at the wrong time is being wrong. What's risk for every trade? Why are u so hesistant to let it get hit? Are u over leveraging? I always set up a trade wait for it to get filled and go about my daily routine, ocassionally checking back and that's it
  • #586,433
  • Jan 20, 2012 6:37am Jan 20, 2012 6:37am
I Think Eurusd today Down to 1.2810 zone..
Sell limit @ : 1.2940
SL: 1.2990
TP: 1.2815
-------------------------
Order For Next Week
Buy Limit : 1.2810
SL: 1.2730
TP : 1.3170
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  • #586,434
  • Jan 20, 2012 6:39am Jan 20, 2012 6:39am
Quoting jayjb
Short from 1.2920 closed at be
Short from 1.2980 still holding
I also opened a short at 1.2965 but shorting at 1.2980 , that's really something !!! Nice.

I am short too !!!
Human
  • #586,435
  • Jan 20, 2012 6:42am Jan 20, 2012 6:42am
Quoting cat
That is good, better than many of the pros. Your problem is more psychological then. You are not trusting yourself or your system and if you have an exit strategy, you don't trust that either. Your problem is one shared by nearly every trader out there at some point in their career. Try doing this, coz it works for me. Before bailing out of a perfectly good trade like you did toady, put yourself in the minds of all the other traders out there who are in the trade. then ask yourself if there is any reason why they should all start bailing out as...
haha thanks, good entry with not bad but HORRIBLE exist = bad trade. lol. thanks a lot for that. that's very helpful, i've also written it down and will read that before every entry. thanks!
  • #586,436
  • Jan 20, 2012 6:42am Jan 20, 2012 6:42am
I do not wish bad for anybody , but only today , I am making an exception !!!

I wish that people who are LONG here get BURNED ..... Sorry people , but if its a choice between you and me , it's me that I would pick !!!
Human
  • #586,437
  • Jan 20, 2012 6:44am Jan 20, 2012 6:44am
Quoting kuroro001
Eyeing 1,3250 on the daily
I'll start buying below 1,284x

Good luck with you...cya on the top!
Sounds good bruv, see ya there
Thank You
  • #586,438
  • Jan 20, 2012 6:46am Jan 20, 2012 6:46am
hi
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  • #586,439
  • Jan 20, 2012 6:48am Jan 20, 2012 6:48am
Quoting fxyardtrader
This came from.. ?
Reuters
  • #586,440
  • Jan 20, 2012 6:52am Jan 20, 2012 6:52am
Quoting AR.dadkhah
hi
to be very honest asking u straight....are u planning to sell some thing here in future?
Trade responsiblypatience is the key/Swing trader
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