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  • #610,961
  • Edited 10:46am Mar 16, 2012 9:48am | Edited 10:46am
Quoting micho
stop loss for me is for kids who are scared to wake up and see the red numbers... i use my own self to stop the loss and not count a stupid fixed number to lose my money
trading is like fighting in the arena, strategy is your spear, MM and stop loss is your shield, you can choose to throw your shield away, but you then will have to compensate it by the additional length/effectiveness of your spear.. or one day you'll put too much of a commitment in your spear and the shield won't be there to save your life
  • #610,962
  • Mar 16, 2012 9:48am Mar 16, 2012 9:48am
Quoting micho
stop loss for me is for kids who are scared to wake up and see the red numbers... i use my own self to stop the loss and not count a stupid fixed number to lose my money
Now is I don't need to sleep and wake up to see the loses... I see it "live"
  • #610,963
  • Mar 16, 2012 9:48am Mar 16, 2012 9:48am
Quoting Ahmed-Egy
no actually that is not really true cuz i don't trade big sizes at most a lot or a lot and half so the spread doesn't really count for me so it is just 50 50 yes i agree on that and what really made the difference is me understanding that fact that its a probabilities game and i didn't say its a lost game or else i would not have remained trading it ...
If you trade small lots, you might not lose it all right away. But it does not matter if you trade .01 lots or 100 lots, the spread always counts.

Anyways, good luck to you (PS- when flipping a coin, heads has a slightly higher probability because the tails side has a larger mass/weight, making it more likely to land face down).
  • #610,964
  • Mar 16, 2012 9:51am Mar 16, 2012 9:51am
Quoting Anti_Losses
Now is I don't need to sleep and wake up to see the loses... I see it "live"
dude i am -196 pips down and i see it live... this doesn't mean shit
just figure out how to plan the trade. if you get in in the wrong position, hell yeah you need a stop loss to lose slowly otherwise you will blow your account in a week
When life gives you lemons, make lemonade
  • #610,965
  • Mar 16, 2012 9:52am Mar 16, 2012 9:52am
Quoting micho
stop loss for me is for kids who are scared to wake up and see the red numbers... i use my own self to stop the loss and not count a stupid fixed number to lose my money
yea but what you will do if it give a spark like this while you sleep ?
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Mohan
  • #610,966
  • Mar 16, 2012 9:54am Mar 16, 2012 9:54am
Quoting Cerber.bf2
trading is like fighting in the arena, sword is your spear, MM and stop loss is your shield, you can choose to throw your shield away, but you then will have to compensate it by the additional length/effectiveness of your spear.. or one day you'll put too much of a commitment in your spear and the shield won't be there to save your life
Trade without stop loss is like to fight a dragon naked with a rolled newspaper in the hand
  • #610,967
  • Mar 16, 2012 9:54am Mar 16, 2012 9:54am
Quoting micho
dude i am -196 pips down and i see it live... this doesn't mean shit
just figure out how to plan the trade. if you get in in the wrong position, hell yeah you need a stop loss to lose slowly otherwise you will blow your account in a week
u are 200 pips down? so now whats ur plan?
There is no substitute of hard work and experience. $ € £ ¥
  • #610,968
  • Mar 16, 2012 9:54am Mar 16, 2012 9:54am
Quoting Kowalczyk
If you trade small lots, you might not lose it all right away. But it does not matter if you trade .01 lots or 100 lots, the spread always counts.

Anyways, good luck to you (PS- when flipping a coin, heads has a slightly higher probability because the tails side has a larger mass/weight, making it more likely to land face down).
Thanks i hope best of luck to you too ( if u believe enough that u need it ) but let me ask you this ,, lets suppose we have a really strong support line and by really strong i mean has been tested 3 or 4 times and the price is at that line and i flip my coin and it says whatever and you or even warren buffet himself decided to go the other way based on ANY analysis ,, what are the chances for both of us to be right and win that trade ? (hint 50 50 )..
  • #610,969
  • Mar 16, 2012 9:54am Mar 16, 2012 9:54am
Quoting Cerber.bf2
trading is like fighting in the arena, sword is your spear, MM and stop loss is your shield, you can choose to throw your shield away, but you then will have to compensate it by the additional length/effectiveness of your spear.. or one day you'll put too much of a commitment in your spear and the shield won't be there to save your life
Hahahahahaahhahaahahah.... I don't have any of these weapons in my arsenal... What should I do?? Any suggestions?
  • #610,970
  • Mar 16, 2012 9:54am Mar 16, 2012 9:54am
Quoting Tomoney
I consider short there, but not sure of my point of view... How do you think?
1.575 is a major pivot point, meaning if we close below, the general market bias is bearish. That is where the previous high is. We have yet to retest the previous high after breaking it. And the hourly looks like it could use a good pull back. It will be interesting to see of we reach it.

Right now, I am short at 1.5849. I will probably close half my position at 1.5801. For the other half, move the SL to BE and TP at 1.5751. If we do reach 1.5751, I will go long with a tight stop.
  • #610,971
  • Mar 16, 2012 9:55am Mar 16, 2012 9:55am
Quoting micho
dude i am -196 pips down and i see it live... this doesn't mean shit
just figure out how to plan the trade. if you get in in the wrong position, hell yeah you need a stop loss to lose slowly otherwise you will blow your account in a week
Hi Micho... Do you do close some positions when it comes down and re-open them when it goes up in cases like me?
  • #610,972
  • Mar 16, 2012 9:57am Mar 16, 2012 9:57am
Quoting mohan76
yea but what you will do if it give a spark like this while you sleep ?
then i am in deep shit... i stop sleeping or eating or functioning... lol

just kidding, i just stick with the plan win the maximum lose the minimum... at one stage i close and reverse...
When life gives you lemons, make lemonade
  • #610,973
  • Mar 16, 2012 9:57am Mar 16, 2012 9:57am
Quoting pip.com
u are 200 pips down? so now whats ur plan?
nothing special just stick to the plan and wait for the plan to finish
When life gives you lemons, make lemonade
  • #610,974
  • Mar 16, 2012 9:58am Mar 16, 2012 9:58am
has this inverse h&s been pointed out yet?
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Don't have an ego. Always question yourself and your ability.
  • #610,975
  • Mar 16, 2012 9:58am Mar 16, 2012 9:58am
yep, i agree,H4 will down next moday ! goodluck
Think Different
  • #610,976
  • Mar 16, 2012 9:58am Mar 16, 2012 9:58am
Quoting micho
then i am in deep shit... i stop sleeping or eating or functioning... lol

just kidding, i just stick with the plan win the maximum lose the minimum... at one stage i close and reverse...
can you account handle -2000 pip (my one will blow)
Mohan
  • #610,977
  • Mar 16, 2012 9:59am Mar 16, 2012 9:59am
417 pips and 30 minutes to close all trades.
  • #610,978
  • Mar 16, 2012 9:59am Mar 16, 2012 9:59am
Quoting Anti_Losses
Hi Micho... Do you do close some positions when it comes down and re-open them when it goes up in cases like me?
i dont close and re-open unless the plan has been done... like my target is hit or its time to reverse otherwise keep them as they are... of course dont tell me i have a 10 lot position at 1.30 and my account is 2000 what should i do... lol... you have to play according to your account size small positions
When life gives you lemons, make lemonade
  • #610,979
  • Mar 16, 2012 9:59am Mar 16, 2012 9:59am
Quoting Ahmed-Egy
Thanks i hope best of luck to you too ( if u believe enough that u need it ) but let me ask you this ,, lets suppose we have a really strong support line and by really strong i mean has been tested 3 or 4 times and the price is at that line and i flip my coin and it says whatever and you or even warren buffet himself decided to go the other way based on ANY analysis ,, what are the chances for both of us to be right and win that trade ? (hint 50 50 )..
Good point, but that is not how the market works. If someone with a large account places a trade, you get the hell out of the way. To your point. You buy or sell with a tight stop. 50/50 chance it will break or bounce. If it breaks, you have a small loss. If it bounces, you have a much bigger profit. But again, the situation you describe rarely happens. If there is a clearly visible trend line, a lot of people will see it, trade it, and thus changing the odds from 50/50 to something else (like 75/25 or 80/20, depending on how much buyers and sells). That is where probability and R:R comes is.
  • #610,980
  • Mar 16, 2012 10:03am Mar 16, 2012 10:03am
Quoting mohan76
can you account handle -2000 pip (my one will blow)
well -2000 pip is something huge... it all depends which trend you are trading... if you are trading a 1000 pip trend, you can have a large drawdown/loss/win so it's up to you to manage the trends you play... and always play the small trends in the direction of the big trends on higher time frames... if you keep an eye on divergence you will limit the damage otherwise one wrong entry and your account will blow
When life gives you lemons, make lemonade
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