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  • #588,341
  • Jan 26, 2012 12:32am Jan 26, 2012 12:32am
stick to your money management.
dont risk more than 2% of your balance per trade.
stop trading after 2 loosing trades in a row.
set your stop loss initially and dont move it.
only trade valid and good setups.

if you loose a trade, analyze why and learn for future entries.
dont jump into trades without having watched the market for at least a few minutes and have checked for current support and resistance levels.

define your own rules and never never never break it.

and... check your expectations.
every time you enter a trade you have an expectation what market will do from your entry point.
if market dont behave like you think it should, set the trade to break even or close it.
.:: your stop loss is another trader's first target ::.
  • #588,342
  • Jan 26, 2012 12:35am Jan 26, 2012 12:35am
Quoting Chicky
Fear and greed, nothing else. Fear of losing a trade, fear that a profitable trade may turn into a loser, fear that market will snatch back gains made,......... and thousand other types of fears. Opposite is true for greed.

Problem of greed is and will be there. But I have a solution that made me a fearless trader. That is, Keep Your Positions Small. If you are not risking much per trade, your trading won't be affected by fears.

adding to that, protect your profit by trailing stop, you must have a definitive target to achieve, if that did not happen close your trade by yourself by realizing that market sentiment has changed.

trailing stop provides 100% emotionless trading scenario.
  • #588,343
  • Jan 26, 2012 12:36am Jan 26, 2012 12:36am
Quoting Chicky
Fear and greed, nothing else. Fear of losing a trade, fear that a profitable trade may turn into a loser, fear that market will snatch back gains made,......... and thousand other types of fears. Opposite is true for greed.

Problem of greed is and will be there. But I have a solution that made me a fearless trader. That is, Keep Your Positions Small. If you are not risking much per trade, your trading won't be affected by fears.

This Chick Rocks.....

Fear is solved, what about Greed ....how to control that...
PPP - Patience Pays PIPS
  • #588,344
  • Jan 26, 2012 12:37am Jan 26, 2012 12:37am
Quoting GSGill
Although 3130 is a minor test in the big picture.
Let's see.
  • #588,345
  • Jan 26, 2012 12:40am Jan 26, 2012 12:40am
waiting a perfect time to entry :-)

where is EU going today ??
  • #588,346
  • Jan 26, 2012 12:42am Jan 26, 2012 12:42am
Quoting Chicky
Fear and greed, nothing else. Fear of losing a trade, fear that a profitable trade may turn into a loser, fear that market will snatch back gains made,......... and thousand other types of fears. Opposite is true for greed.

Problem of greed is and will be there. But I have a solution that made me a fearless trader. That is, Keep Your Positions Small. If you are not risking much per trade, your trading won't be affected by fears.
Perfect, but let me add something to that:
Keep in the direction of the current trend.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #588,347
  • Jan 26, 2012 12:43am Jan 26, 2012 12:43am
i lost significant amount of money yesterday... i was selling EU...what a painful lesson...
  • #588,348
  • Jan 26, 2012 12:45am Jan 26, 2012 12:45am
yes, I like this movement of candle 5m, it is a sign of ....
  • #588,349
  • Jan 26, 2012 12:47am Jan 26, 2012 12:47am
Shorted: 1.3131
SL: 30 pips (+ Manual)
Profit Target: 1.3075
'For the market to work, it needs people who think that they can beat it.'
  • #588,350
  • Jan 26, 2012 12:52am Jan 26, 2012 12:52am
Hours ago I went long @ 1.3100, feeling we wouldn't get much retrace.
Normally I would go short after such a move up to catch a retrace.
It seems to be different with a move as a result from FOMC.
These FOMC days you never get a good retrace and a big retrace is not likely to happen later on today.
For now I've set my target @ 1.3195 but if necessary I'll go higher with that.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #588,351
  • Jan 26, 2012 12:53am Jan 26, 2012 12:53am
Quoting AlastorFate
Shorted: 1.3131
SL: 30 pips (+ Manual)
Profit Target: 1.3075
Your stop will probably get hit during London session or take profit before then..
New voice message: Why are you calling me? If I need you, I'll call you!
  • #588,352
  • Jan 26, 2012 12:54am Jan 26, 2012 12:54am
so my post is useless haan? no comments at all. it might be the reason nobody has understood my bad english isn't it? hmmm should i keep the post or delete it? don't know...
  • #588,353
  • Jan 26, 2012 12:54am Jan 26, 2012 12:54am
If europe is in such a mess then how EUR is being priced at this current level.....??... I keep my fingers crossed and still holding my short position as I see sell orders at 1.3140 and this should take it down to 1.28 atleast next week..
  • #588,354
  • Jan 26, 2012 12:58am Jan 26, 2012 12:58am
Quoting KillerWhale
Your stop will probably get hit during London session.
Possible. But the entry met my setup requirement, so I took the trade. It's in a small green now, but I am inclined to let it run a bit.
'For the market to work, it needs people who think that they can beat it.'
  • #588,355
  • Jan 26, 2012 1:00am Jan 26, 2012 1:00am
Short at 1.4950 , just waiting
  • #588,356
  • Jan 26, 2012 1:01am Jan 26, 2012 1:01am
Quoting KillerWhale
Your stop will probably get hit during London session.
nope it won't get hit. keep faith in your trade and ride it.

don't listen to others.
  • #588,357
  • Jan 26, 2012 1:01am Jan 26, 2012 1:01am
ok 1st. tp hit from the top... let c where to go now....
  • #588,358
  • Jan 26, 2012 1:02am Jan 26, 2012 1:02am
No need to delete your post. Trail stops are fine to use some traders use them and some don't. It's still your trading style and rules.

Quoting robert7
so my post is useless haan? no comments at all. it might be the reason nobody has understood my bad english isn't it? hmmm should i keep the post or delete it? don't know...
  • #588,359
  • Jan 26, 2012 1:03am Jan 26, 2012 1:03am
dax showing sign for possible bear but i have closed my short before franky due to Fear

edit : dax cancelling it (sign) now
Mohan
  • #588,360
  • Jan 26, 2012 1:05am Jan 26, 2012 1:05am
Quoting KillerWhale
Hours ago I went long @ 1.3100, feeling we wouldn't get much retrace.
Normally I would go short after such a move up to catch a retrace.
It seems to be different with a move as a result from FOMC.
These FOMC days you never get a good retrace and a big retrace is not likely to happen later on today.
For now I've set my target @ 1.3195 but if necessary I'll go higher with that.

u had gone into extinction when the dinosaur age ran out of fire and you will probably go again with your bullish targets.

Nothing changes after ben. fact is europe is mess.
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