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My trading journey

  • #4,481
  • Mar 7, 2012 7:07pm Mar 7, 2012 7:07pm
Quoting FX4Newbies
if you do rescue, you have assumed that you're ridding the wrong bus...

Maybe my terminology/understanding is not clear. If I enter a long scout, but timing slightly off and price falls some...on support, I enter long to rescue...and price continues moving up...not clear on your comment about "riding the wrong bus" in that regard.


.. yes need to square... re-assess and re-position if need be... (i normally at this stage pause... and clear mind)

Agreed...find it helpful to clear the mind.


[color=Navy]remember...
trading... is like standing on a bus stop... waiting for north bound bus... (of course to get to the north).. but sometimes we catch the wrong bus... i.e. we get into south bus instead...

so getting on a wrong bus... means ridding a wrong trend... getting off the bus is just the best thing to do...

you seem to be a very knowledgeable person... no need to expand...

good trading to you.
Success consists of going from failure to failure without loss of enthusiam
  • #4,482
  • Mar 7, 2012 7:14pm Mar 7, 2012 7:14pm
Quoting dongsky
trading... is like standing on a bus stop... waiting for north bound bus... (of course to get to the north).. but sometimes we catch the wrong bus... i.e. we get into south bus instead...

so getting on a wrong bus... means ridding a wrong trend... getting off the bus is just the best thing to do...

you seem to be a very knowledgeable person... no need to expand...

good trading to you.
so getting on a wrong bus... means ridding a wrong trend... getting off the bus is just the best thing to do...

Agreed and noted...

Feel like there's just some more fine-tuning to go to take my trading to another level.

Thanks for your input. On page 22 of your thread atm...picking up some good tidbits...subtle comments and pointers that seem to hold things together ever so tightly.

Thanks again,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #4,483
  • Mar 7, 2012 7:59pm Mar 7, 2012 7:59pm
Just to share my 2 pips on flipping.

Flipping very risky, at least my failed sessions show that.

Flipping should be done when (1) our total position is small, and (2) IT IS CLEAR that our initial direction is wrong.

When our total size is small, flipping is not that stressful, and the leverage flip (flipped with a larger overall size) is simply taking losses on the existing positions and initiating a new position (often bigger) in the opposite direction, in view of the newly change view of direction will get us far enough to end the whole session in profit. With smaller size, it is relatively manageable, even when price retraced after we flipped and the flipped position is under water again, we can still plan for rescue of the flipped position. If our initial size before flip is big, that flipped size will be huge, which often will affect mindset and our ability to maneuver even if market just show hesitation in the supposed flipped direction. This often ended with bad timing of further entries and exits and make matter worse, and finally ended with even bigger losses.

The next question is how sure is the flipped direction is NOW the correct one. We all now that we can never be sure that market will move in certain direction. Furthermore with fti's method, there is alway opportunity for rescue. So we have to balance flipping direction with possibility of rescuing implemented in the original direction. I will look at price terrain and a bigger time frame picture to gauge. Often I find that unless I am faced with a sudden move due to intervention/news, rescue is still a better option. Relating to this is the speed of move: flipping in a slow market, which often has many whipsaws and price bar overlaps does not make sense.

Hope that I have contributed something of value here.
  • #4,484
  • Mar 7, 2012 9:06pm Mar 7, 2012 9:06pm
Quoting hcong168
Just to share my 2 pips on flipping.

Flipping very risky, at least my failed sessions show that.

Flipping should be done when (1) our total position is small, and (2) IT IS CLEAR that our initial direction is wrong.

When our total size is small, flipping is not that stressful, and the leverage flip (flipped with a larger overall size) is simply taking losses on the existing positions and initiating a new position (often bigger) in the opposite direction, in view of the newly change view of direction will get us far enough to end the whole session...
Thanks for sharing Hcong168...

If our initial size before flip is big, that flipped size will be huge, which often will affect mindset and our ability to maneuver even if market just show hesitation in the supposed flipped direction. This often ended with bad timing of further entries and exits and make matter worse, and finally ended with even bigger losses.

... rescue is still a better option. Relating to this is the speed of move: flipping in a slow market, which often has many whipsaws and price bar overlaps does not make sense.

Appreciate the trading sense behind these thoughts.


FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #4,485
  • Mar 7, 2012 9:08pm Mar 7, 2012 9:08pm
Quoting hcong168
Just to share my 2 pips on flipping.

Flipping very risky, at least my failed sessions show that.

Flipping should be done when (1) our total position is small, and (2) IT IS CLEAR that our initial direction is wrong.

When our total size is small, flipping is not that stressful, and the leverage flip (flipped with a larger overall size) is simply taking losses on the existing positions and initiating a new position (often bigger) in the opposite direction, in view of the newly change view of direction will get us far enough to end the whole session...
Thanks, you nailed it!

although most of TAF peeps do flipping once in a while (even fti) but it wasn't recommended - you do it at your own risk 'kinda thing'

flipping is easy when size is small...

flipping is wise if you, out of rigidity, you see opportunity into uncertainty...

rescuing a troubled troops needs skills... and the skill is YOU... how you see the market, terrain & enemy is your gauge for your counter attack - whether to runl nor duck/hide or simply kill soldiers. again, this entails long period of observing price gyration... it will come to you, as long as you're not married to your own bias...

Success consists of going from failure to failure without loss of enthusiam
  • #4,486
  • Mar 7, 2012 9:37pm Mar 7, 2012 9:37pm
Quoting dongsky
Thanks, you nailed it!

although most of TAF peeps do flipping once in a while (even fti) but it wasn't recommended - you do it at your own risk 'kinda thing'

flipping is easy when size is small...

flipping is wise if you, out of rigidity, you see opportunity into uncertainty...

... it will come to you, as long as you're not married to your own bias...

Great words of wisdom...have experienced them all...

Successful flips; getting hammered flips with too large of positions; being married to bias.

Very encouraging to see these thoughts being shared...I could so identify .


FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #4,487
  • Mar 7, 2012 9:45pm Mar 7, 2012 9:45pm
tonight will be a very interesting night...

euro,cable & aussie were pushing longs... while yen is dead... interesting...

is there anything i missed?

still watching majors and crosses... looking for a hint of who's gonna give me heads up still flat...
Success consists of going from failure to failure without loss of enthusiam
  • #4,488
  • Mar 7, 2012 9:50pm Mar 7, 2012 9:50pm
Quoting hcong168
Just to share my 2 pips on flipping.

Flipping very risky, at least my failed sessions show that.

Flipping should be done when (1) our total position is small, and (2) IT IS CLEAR that our initial direction is wrong.

When our total size is small, flipping is not that stressful, and the leverage flip (flipped with a larger overall size) is simply taking losses on the existing positions and initiating a new position (often bigger) in the opposite direction, in view of the newly change view of direction will get us...
Very important points imho!
Thanks
  • #4,489
  • Mar 7, 2012 10:05pm Mar 7, 2012 10:05pm
... loading ammo

short scout in...
Success consists of going from failure to failure without loss of enthusiam
  • #4,490
  • Mar 7, 2012 11:29pm Mar 7, 2012 11:29pm
3rd test is happening now...
Success consists of going from failure to failure without loss of enthusiam
  • #4,491
  • Mar 8, 2012 2:05am Mar 8, 2012 2:05am
holding longs... for how long?
Success consists of going from failure to failure without loss of enthusiam
  • #4,492
  • Mar 8, 2012 2:15am Mar 8, 2012 2:15am
reloaded... sell euro... heavy!!!

i want to see some big ass dropped!!!

how much longer longs can long live once you give in... i will wack you till you drop dead ...

waiting...
Success consists of going from failure to failure without loss of enthusiam
  • #4,493
  • Mar 8, 2012 2:35am Mar 8, 2012 2:35am
Attached Image (click to enlarge)
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when will it snaps back?

Attached Image (click to enlarge)
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Success consists of going from failure to failure without loss of enthusiam
  • #4,494
  • Mar 8, 2012 3:02am Mar 8, 2012 3:02am
yen is running fast + euro is not = manipulation?


Attached Image (click to enlarge)
Click to Enlarge Name: 08 03b.JPG Size: 81 KB



Attached Image (click to enlarge)
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Success consists of going from failure to failure without loss of enthusiam
  • #4,495
  • Mar 8, 2012 3:06am Mar 8, 2012 3:06am
eur/gbp... dumping ground!!!
Success consists of going from failure to failure without loss of enthusiam
  • #4,496
  • Mar 8, 2012 3:18am Mar 8, 2012 3:18am
Is EU trying to go to 1.32075...in that area or just running some juicy stops...only to tank again?

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #4,497
  • Mar 8, 2012 3:48am Mar 8, 2012 3:48am
Quoting FX4Newbies
Is EU trying to go to 1.32075...in that area or just running some juicy stops...only to tank again?

FX4

troops underwater biting bullets...

euro is dead but still waging war

waiting...
Success consists of going from failure to failure without loss of enthusiam
  • #4,498
  • Mar 8, 2012 3:54am Mar 8, 2012 3:54am
i'm dancing only with foreign capital... everything is still well...

not in tune with market... nimble now
Success consists of going from failure to failure without loss of enthusiam
  • #4,499
  • Mar 8, 2012 4:50am Mar 8, 2012 4:50am
Quoting dongsky
i'm dancing only with foreign capital... everything is still well...

not in tune with market... nimble now
Seeing some weakness on M15...Will have to see if the bears can take it down now or are they in for another round of fighting...another short squeeze play.

Foreign Capital beats using stops any day .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #4,500
  • Mar 8, 2012 5:13am Mar 8, 2012 5:13am
Quoting FX4Newbies
Seeing some weakness on M15...Will have to see if the bears can take it down now or are they in for another round of fighting...another short squeeze play.

Foreign Capital beats using stops any day .

FX4
patience... for this is just a waiting game...

weaklings... already exits... and perhaps flipped...

bad mindset...

holding ground...
Success consists of going from failure to failure without loss of enthusiam
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