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  • #604,761
  • Mar 6, 2012 3:21pm Mar 6, 2012 3:21pm
Quoting KillerWhale
Scaling out of losses, that's the funniest one I've heard in a long time.
Anything to say beside being amused at this terminology ?
  • #604,762
  • Mar 6, 2012 3:24pm Mar 6, 2012 3:24pm
The only thing to do if your wrong(about your entry) is quit being wrong and sell(or cover).

Jesse Livermore

Quoting Agent-Pipen
This may be out of the main topic, I'm wondering if anyone here is scaling into this trend? or anyone scaling out loses? If so, please input your thoughts on this. By definition scaling out loses simply is cutting partial loses so the whole draw down does not seem overwhelming.
  • #604,763
  • Mar 6, 2012 3:26pm Mar 6, 2012 3:26pm
Quoting Agent-Pipen
Anything to say beside being amused at this terminology ?
Yes, cut your losses when there is a support or resistance between your entry and the current price level. Not scaling out, cut them. ALL
New voice message: Why are you calling me? If I need you, I'll call you!
  • #604,764
  • Mar 6, 2012 3:26pm Mar 6, 2012 3:26pm
Quoting Agent-Pipen
so i take it that your not a fan of cutting slower losses. It might be wise to have a stop set pre entry. For my system, i have no stop or limit set anywhere. I purely trade on correlations between set pairs, sorta like a hedge account. There will always be a winning pair and a losing pair. If I dont scale out little by little, I would eventually make nothing. I see your point, one need to have a clear direction and plan pre entry, so there wouldn't be a need to have scaling.
I see where your coming from,mine is black and white,
you seem to be "managing margin" so to speak,i know
that kind of thing works,just not for me.
You can remain irrational longer than you can remain solvent.
  • #604,765
  • Mar 6, 2012 3:32pm Mar 6, 2012 3:32pm
Quoting jezek5
I see where your coming from,mine is black and white,
you seem to be "managing margin" so to speak,i know
that kind of thing works,just not for me.
Just a thought that came to mind, since these few days Eur has been trending in both directions, I'm sure some of trapped by the trend and wondering how are they taking care of their losses. From looking at the trade explorer a few have added more and more to their losses, I suppose to average out.

Klllerwhale, your point is warranted
  • #604,766
  • Mar 6, 2012 3:46pm Mar 6, 2012 3:46pm
we see 1.2970??
I share you my questions for you to think...
  • #604,767
  • Mar 6, 2012 3:48pm Mar 6, 2012 3:48pm
Quoting pst
we see 1.2970??
Another day like today and we will nearly be there. We can however expect a little consolidation after breaking under trendline.
  • #604,768
  • Mar 6, 2012 3:51pm Mar 6, 2012 3:51pm
Quoting KillerWhale
My friend, there are traders who will stay short until we reach 1.20
lower I no comment other issue, other than managing trades heavy drowning, is just provide liquidity, hope, wish, pray not work in forex.

Use an acceptable stop loss, problem solved, adding to loser sheez, is just make bad trade badder, is no comparison to adding to green trade.
If you are new to Forex? Say Goodbye to your account!!
  • #604,769
  • Mar 6, 2012 4:11pm Mar 6, 2012 4:11pm
Just saying ..... http://www.zerohedge.com/news/700-bi...ll-blink-first

Basically if we dont get QE3 we are going to most likely see a recoupling of this down to 1.20 EUR
  • #604,770
  • Mar 6, 2012 4:14pm Mar 6, 2012 4:14pm
Opportunity for a long on m15 for an asian retrace. won't be long lasting by the looks of higher TFs, could be capped at 3130 or 3142.

generally bearish continuation is still favoured.
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  • #604,771
  • Mar 6, 2012 4:36pm Mar 6, 2012 4:36pm
Quoting eliabreu
E boa tarde aqui do Brasil (GMT -3)
Até que enfim alquem falando portugues aqui no forum!
Boa noite eliabreu / Alec!

Cá está mais um lusitano...

Forte abraço de Lisboa
  • #604,772
  • Mar 6, 2012 4:41pm Mar 6, 2012 4:41pm
Quoting kuroro001
Yes i did say that.
It'd be too easy a draw a line and go long/short once it reaches it.

Sorry mate but i don't know any websites or link mentionning how to clearly read PA, but a lot of people were mentionning the thread "Price is everything" and a thread started by Jacko i think...have a look at them.

I've learned it the hard way...so i've got my own way of interpreting it.
1) i don't use trendline...only horizontal resistance/support.
2) check how many times the support/resistance has been used in the past (for intraday trade i look...
thanks mate. will look into that thread.
1) I use trendlines but I feel S/R usually beat them, and TL's are harder to use because of time+price requierments while S/R are only price.
2) This is what I learned as well.
3) I noly have very basic skill of candle pattering.. will look into that, thank you.

cheers.
  • #604,773
  • Mar 6, 2012 4:43pm Mar 6, 2012 4:43pm
Quoting Leeson
Boa noite eliabreu / Alec!

Cá está mais um lusitano...

Forte abraço de Lisboa

Mais um portuga!!!

Forte abraço de coimbra!
  • #604,774
  • Mar 6, 2012 4:45pm Mar 6, 2012 4:45pm
Evening all.

Great day! Got short from 1.3173 after support broke @1.3178 with confirmation on retest and rejection. Closed at 1.3121. +52 pips.

Slowly I am getting back my lost 10k...

I will not give up until I get it all back... Using mini-lots probably I will be there in 2016...

Oh well... Patience is the key to success...

  • #604,775
  • Mar 6, 2012 4:48pm Mar 6, 2012 4:48pm
charting and technical analysis $6.95 at amazon kindle store

http://www.amazon.com/s/ref=nb_sb_ss...l+%2Caps%2C574

Quoting Cerber.bf2
So I had a couple of losses today, and been told to that it was due to my inability to 'read PA near the levels' (I think it was kuroro who said that). Does anybody know a link to read on this or a thread here on FF worth reading about this(there are millions of those, maybe someone knows a better trader who explains better of them all)?
  • #604,776
  • Mar 6, 2012 4:51pm Mar 6, 2012 4:51pm
Quoting Leeson
Evening all.

Great day! Got short from 1.3173 after support broke @1.3178 with confirmation on retest and rejection. Closed at 1.3121. +52 pips.

Slowly I am getting back my lost 10k...

I will not give up until I get it all back... Using mini-lots probably I will be there in 2016...

Oh well... Patience is the key to success...

I wish i could do that : (
  • #604,777
  • Mar 6, 2012 4:53pm Mar 6, 2012 4:53pm
Quoting Leeson
Evening all.

Great day! Got short from 1.3173 after support broke @1.3178 with confirmation on retest and rejection. Closed at 1.3121. +52 pips.

Slowly I am getting back my lost 10k...

I will not give up until I get it all back... Using mini-lots probably I will be there in 2016...

Oh well... Patience is the key to success...

Good luck.

Myself - Overall years of trading experience (live) - 4 years.
No. of accounts lost (MC) - 5 (generally within the first 2 months)
Total Trading Funds Lost = USD 6k

Note: I did the small accounts and kept funding / revenge trading etc.... basically the point is, it took me 4 years to understand that slow and steady wins the game in forex (some knowledge and luck also helps)

Current account (account no. 6)
Open since Sept 2011 - mini lots
Sept P/L = -USD 200 (tried out zulutrade and realized I could trade better manually compared to some of the jokers there)
Oct - Mar P/L = + USD 1600 (full manual trading using S/R, and MM)
Total P/L for current account = USD 1400

Hoping to be able to make up for all the lost trading funds (slowly) by end of the year.

Note: Waiting for the next hour for Aussie GDP... probably we'll have some movement in the market. Been scalping for 10-15 pips both ways but could always use bigger movements in the market.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #604,778
  • Mar 6, 2012 4:58pm Mar 6, 2012 4:58pm
break....damn.
  • #604,779
  • Mar 6, 2012 4:59pm Mar 6, 2012 4:59pm
Quoting Ahmed-Egy
I wish i could do that : (
Dont give up my friend. Use lower lots to manage risk without putting your account in danger and learn about support/resistance and practice your PATIENCE to wait for proper setups with higher success chances.

If you get in 10 times a week and you manage to get it right 7 of them, with proper risk control you will be successful. I took a lot of hits before I started to realize this...

It's working for me.

See your losses instead as investment in your education on this stupid business, it will be easier to deal with your feelings on the long run.

Just remember your "investment" in your education must be won back sometime later...

Go slowly and resist the temptation to hit the damn sell/buy button everytime to recover the losses quickly... You will fail miserably if do this... I wasted the second 5k account trying to recover the first 5k account...

Good luck!
  • #604,780
  • Mar 6, 2012 5:01pm Mar 6, 2012 5:01pm
maybe up 3.150-60
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