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  • #634,441
  • Apr 26, 2012 3:23pm Apr 26, 2012 3:23pm
Back...

Wow, price barely moved.

I'm still confident it should be coming down though, even if just a retrace.
Learn to see what's there, not what you want to see.
  • #634,442
  • Apr 26, 2012 3:24pm Apr 26, 2012 3:24pm
3 hours ago:

Quoting cloggie
No shorts yet, just a slow crawl up for a bit, not enough to trade, to get the hourly and H4 back in line. I can see this pair just sitting here ranging for the rest of the session.

Feck, Cloggie is good........
  • #634,443
  • Apr 26, 2012 3:24pm Apr 26, 2012 3:24pm
Good evening to all, just looking at 1M chart eur find some small support at 6. Gonna read some wiki for advice so. Been reading this tread all over now. Is there any idea where to go on 15 m? BE 31940! TP 1.33330
  • #634,444
  • Apr 26, 2012 3:25pm Apr 26, 2012 3:25pm
Quoting cloggie
3 hours ago, feck Cloggie is good........
You're growing on me, old man.
Learn to see what's there, not what you want to see.
  • #634,445
  • Apr 26, 2012 3:27pm Apr 26, 2012 3:27pm
Quoting TraderBoyFF
You're growing on me, old man.

Don't worry, won't last.
  • #634,446
  • Apr 26, 2012 3:28pm Apr 26, 2012 3:28pm
Since nothing's happening, i might as well mention this...

No one ever tells you that when you become a trader, it's a lot of boredom at times.
Learn to see what's there, not what you want to see.
  • #634,447
  • Apr 26, 2012 3:28pm Apr 26, 2012 3:28pm
Quoting TraderBoyFF
You're growing on me, old man.
Yeah.. I blasted the grumpy bastard at first but then I realized some of the muppets deserve all he's got for them.
  • #634,448
  • Apr 26, 2012 3:29pm Apr 26, 2012 3:29pm
Quoting cloggie
Don't worry, won't last.
Hey Captain Cloggie you told us you do have losing trades but do you ever get losing days ????
  • #634,449
  • Apr 26, 2012 3:29pm Apr 26, 2012 3:29pm
Quoting attila
Yeah.. I blasted the grumpy bastard at first but then I realized some of the muppets deserve all he's got for them.

And we have grown to appreciate each other, funny business this ain't it?

You were exemplary today.
  • #634,450
  • Apr 26, 2012 3:30pm Apr 26, 2012 3:30pm
Quoting megajester
Hey Captain Cloggie you told us you do have losing trades but do you ever get losing days ????

Not scalping, no. I do mid term trading, but haven't really done any mid term trading all year. (at least on currencies)
  • #634,451
  • Apr 26, 2012 3:31pm Apr 26, 2012 3:31pm
Quoting attila
Yeah.. I blasted the grumpy bastard at first but then I realized some of the muppets deserve all he's got for them.
You know what, my friend...he eerily reminds me of the great one that we knew. Except he's got a much rougher edge.

Maybe it's because they're both old.

Learn to see what's there, not what you want to see.
  • #634,452
  • Apr 26, 2012 3:31pm Apr 26, 2012 3:31pm
Quoting cloggie
And we have grown to appreciate each other, funny business this ain't it?

You were exemplary today.
Yes cloggie. I can tell a good trader... Was just a little quick to trigger..
  • #634,453
  • Apr 26, 2012 3:31pm Apr 26, 2012 3:31pm
Quoting TraderBoyFF
You know what, my friend...he eerily reminds me of the great one that we knew. Except he's got a much rougher edge.

Maybe it's because they're both old.

Yes indeed. Same style of trading..
  • #634,454
  • Apr 26, 2012 3:32pm Apr 26, 2012 3:32pm
Quoting attila
Yes cloggie. I can tell a good trader... Was just a little quick to trigger..

No need to apologise.
  • #634,455
  • Apr 26, 2012 3:32pm Apr 26, 2012 3:32pm
Quoting cloggie
Not scalping, no. I do mid term trading, but haven't really done any mid term trading all year.
Thats a hell of a feat good on ya
  • #634,456
  • Apr 26, 2012 3:33pm Apr 26, 2012 3:33pm
Quoting megajester
Thats a hell of a feat good on ya

To be honest, that's what the big boys do. Look at JP and GS, they publish their losing days, and they are rare too, and that is for the whole shop. You need to compare it with that, not with the average retailer here.

It is all about cutting your losses short and getting a multiple out of the winners. On a really crap day, I may end up with more losers then winners, but still end up in the green in the end. I haven't had one of those in a while as we are ranging and scalping is pretty simple on days like we've had these past few weeks.
  • #634,457
  • Apr 26, 2012 3:37pm Apr 26, 2012 3:37pm
Quoting cloggie
To be honest, that's what the big boys do. Look at JP and GS, they publish their losing days, and they are rare too, and that is for the whole shop. You need to compare it with that, not with the average retailer here.

It is all about cutting your losses short and getting a multiple out of the winners. On a really crap day, I may end up with more losers then winners, but still end up in the green in the end. I haven't had one of those in a while as we are ranging and scalping is pretty simple on days like we've had this past few weeks.
You scalp on the 1M time frame? (in conjunction with higher tf?)
  • #634,458
  • Apr 26, 2012 3:42pm Apr 26, 2012 3:42pm
Quoting cloggie
http://www.wikinvest.com/wiki/List_of_Stock_Exchanges


This is a good start. I had this conversation wtih Twee before. FF reports what the retail brokers consider the "opens", proper traders are only interested in when you can see an influx of money coming into the market and that happens when the Stock exchanges open, so the above link should be a good start for you.

Don't go using forex "opens", there is no such thing, use the exchanges, that's when the big boys show up with their cash and that's what you are interested in....
Just wanted to get my basics timing right and it turns out they are not really that important.

Thanks for pointing me the right direction and it makes sense on the money flow and banks opening part.

Thanks Cloggie man for the link!
The confusing info on the net and DST off in Sydney from April 1st 2012 was driving me nuts on the opening. haha
  • #634,459
  • Apr 26, 2012 3:43pm Apr 26, 2012 3:43pm
Quoting cloggie
To be honest, that's what the big boys do. Look at JP and GS, they publish their losing days, and they are rare too, and that is for the whole shop. You need to compare it with that, not with the average retailer here.

It is all about cutting your losses short and getting a multiple out of the winners. On a really crap day, I may end up with more losers then winners, but still end up in the green in the end. I haven't had one of those in a while as we are ranging and scalping is pretty simple on days like we've had these past few weeks.
Usually today would have been a great day but im short from a ways back just cant take them losing trades im a gambler at heart. I'll learn one day got too much on the table at the moment for my liking but will start reducing if price continues up, up overall so not complaining
  • #634,460
  • Apr 26, 2012 3:44pm Apr 26, 2012 3:44pm
Quoting megajester
Usually today would have been a great day but im short from a ways back just cant take them losing trades im a gambler at heart. I'll learn one day got too much on the table at the moment for my liking but will start reducing if price continues up, up overall so not complaining

That is probably one of the biggest hurdles a retailer faces in becoming succesful, the inability to cut the losses and letting the winners run.

I have seen it so many times over the years, even professionally, plenty just can't get it. You see it here day after day, there are so many explorers attached to members here that clearly show that trading just isn't for them.

I can usually cut my loss at a few pips, so I can have 6-7 losses in a row and only need one winner and am back at BE.

I see plenty guys here that finally cut a loss at 50 or 100 pips and then need 30-40 trades just to get back to BE, that is almost impossible as they are so scared that they are going to get another loss before they get to the 40 winners that they certainly will.
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