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  • #2,181
  • Jul 30, 2012 10:15pm Jul 30, 2012 10:15pm
Quoting petehnm
well said palabara...I've been the king of DD lately and I hate #1 and #2....The more I see posts like this the more I tell myself don't do it...thanks again...
It's not easy, I've been fighting it but.. I've been good.. I've been sticking to amputating, and keeping it tight!!! I used to let my positions DD so low.. It was horrible, no way to trade.

Time is money, every time you have a position with -130 pips in your account, it clogs everything up.
There are those who know, and there are those who don't know.
  • #2,182
  • Jul 30, 2012 10:20pm Jul 30, 2012 10:20pm
Quoting palabara
It's not easy, I've been fighting it but.. I've been good.. I've been sticking to amputating, and keeping it tight!!! I used to let my positions DD so low.. It was horrible, no way to trade.

Time is money, every time you have a position with -130 pips in your account, it clogs everything up.
I hate that ....especially the time it consumes...time that can be used to get back those lost pips...
  • #2,183
  • Jul 30, 2012 10:21pm Jul 30, 2012 10:21pm
I'll also say this.. We are our worst enemy's. Because, it all boils down to discipline, if you don't have it.. always trip up. Best forex traders, trade without emotion, they execute.

When you eliminate, feelings and the desire to be right ALL the time, and focus on profits, and know that losses is a part of this industry. Can get pretty far, I've been focusing on my discipline a lot, times are getting hard.. need to get as much as you can.
There are those who know, and there are those who don't know.
  • #2,184
  • Jul 30, 2012 10:23pm Jul 30, 2012 10:23pm
Quoting petehnm
I hate that ....especially the time it consumes...time that can be used to get back those lost pips...
That's the thing.. It takes so much faster to get those pips back then to hold that damn position lol. I kept telling myself, I could have already gotten it back 50 times.. I usually have.. 7 wins consecutive then a nasty DD position and I never wanted to cut it.. then it just grew nastier and nastier, and then I wished I'd cut.. early on!!

If, and but we're peanuts and nuts. lol. to late to say IF, and then, I said.. I won't do it again, and then I did it again. I stopped, I can't trade like that anymore.

I take a loss here and there, but I still make out in the end.
There are those who know, and there are those who don't know.
  • #2,185
  • Jul 30, 2012 10:25pm Jul 30, 2012 10:25pm
Quoting palabara
It's not easy, I've been fighting it but.. I've been good.. I've been sticking to amputating, and keeping it tight!!! I used to let my positions DD so low.. It was horrible, no way to trade.

Time is money, every time you have a position with -130 pips in your account, it clogs everything up.
I attempt to trade with very tight SLs and place entry's as precise as possible, only taking trades that have great probability. If I'm wrong and miss the entry that I thought was there, then the risk is very small. If I'm right, the rewards are great.
The biggest drawback is the amount of time necessary to pick those spots.
  • #2,186
  • Jul 30, 2012 10:30pm Jul 30, 2012 10:30pm
Quoting DonL
I attempt to trade with very tight SLs and place entry's as precise as possible, only taking trades that have great probability. If I'm wrong and miss the entry that I thought was there, then the risk is very small. If I'm right, the rewards are great.
The biggest drawback is the amount of time necessary to pick those spots.
Indeed, but you no one said it was going to be easy! Precision and Accuracy. know when to get in, know when to get out.. Make sure always to have a "plan" a strategy know what the market might throw at you.

I've been doing this shit for a long time, and I've fell into the same pit falls over and over, until I decided to stop.
There are those who know, and there are those who don't know.
  • #2,187
  • Jul 30, 2012 10:33pm Jul 30, 2012 10:33pm
Quoting palabara
That's the thing.. It takes so much faster to get those pips back then to hold that damn position lol. I kept telling myself, I could have already gotten it back 50 times.. I usually have.. 7 wins consecutive then a nasty DD position and I never wanted to cut it.. then it just grew nastier and nastier, and then I wished I'd cut.. early on!!

If, and but we're peanuts and nuts. lol. to late to say IF, and then, I said.. I won't do it again, and then I did it again. I stopped, I can't trade like that anymore.

I take a loss here and there, but...
...that's to funny bro...I just got out of a situation like that....it sucked big time...let's keep telling ourselves and anyone that will listen....I'll listen...no more DD....
  • #2,188
  • Jul 30, 2012 10:36pm Jul 30, 2012 10:36pm
Quoting petehnm
...that's to funny bro...I just got out of a situation like that....it sucked big time...let's keep telling ourselves and anyone that will listen....I'll listen...no more DD....
I FORSAKE DD FOREVER. AND IF I'M CAUGHT WITH DD I SHALL BE STRICKEN DOWN! Say it with ME! lol..

NO MORE DD!!! EVER AGAIN.
There are those who know, and there are those who don't know.
  • #2,189
  • Jul 30, 2012 10:39pm Jul 30, 2012 10:39pm
Quoting palabara
I FORSAKE DD FOREVER. AND IF I'M CAUGHT WITH DD I SHALL BE STRICKEN DOWN! Say it with ME! lol..

NO MORE DD!!! EVER AGAIN.

...OH NO...We have become a cult.......just kidding....no doubt about it though DD does suck..
  • #2,190
  • Jul 30, 2012 10:43pm Jul 30, 2012 10:43pm
Quoting petehnm
...OH NO...We have become a cult.......just kidding....no doubt about it though DD does suck..
I'm here to make money, I like to socialize with good peeps like you and DB and DonL and Trader74 and petehnm and everyone else..

At the same time, we are our worst enemy's, for the people that are "new" and reading out there.. You are your worst enemy, you can have all the forex knowledge out there.. But, if you can't control yourself it will do you no good!

Taking a hit is part for the course, don't let it discourage you, and don't feel like you've failed. I am stubborn at nature, and it took me a long time to coup that, I have no discipline. But, only if we admit to the problem, we can correct it.

Stick with your strategy and plans, don't let the market scare you, and don't be afraid to cut your position and then grab the few pips of profit you see. Cut your losses, and take your winnings!

There are those who know, and there are those who don't know.
  • #2,191
  • Jul 30, 2012 10:43pm Jul 30, 2012 10:43pm
Quoting palabara
I FORSAKE DD FOREVER. AND IF I'M CAUGHT WITH DD I SHALL BE STRICKEN DOWN! Say it with ME! lol..

NO MORE DD!!! EVER AGAIN.
I guess the right entry is more important than no DD. The reason of getting DD is because of bad entries. The other way to avoid DD is not trade at all. IMHO
daddybearforex. com
  • #2,192
  • Jul 30, 2012 10:46pm Jul 30, 2012 10:46pm
Quoting DaddyBear
I guess the right entry is more important than no DD. The reason of getting DD is because of bad entries. The other way to avoid DD is not trade at all. IMHO
Most DD occurs, the lack of wanting to lose the losing position.. because of idealism such as.. "it will go back" Oh it will go back, its only 30 pips DD its only 50 pips.. its only 70.. pips before you know it.. you wondering how you get there.

It occurs because of bad entries, wrong time to enter.. trying to catch a trend that already left the station, and then decided to come back.. the list keeps going on and on.. It needs to know when to say, *close*
There are those who know, and there are those who don't know.
  • #2,193
  • Jul 30, 2012 10:49pm Jul 30, 2012 10:49pm
Quoting DaddyBear
I guess the right entry is more important than no DD. The reason of getting DD is because of bad entries. The other way to avoid DD is not trade at all. IMHO
Now the question is what is the criteria of a good entriy. Good entry is not equivalent to picking up the top or the bottom. In my opinion, getting on the right direction is right entry regardless of where the entry is.
daddybearforex. com
  • #2,194
  • Jul 30, 2012 10:50pm Jul 30, 2012 10:50pm
Quoting DaddyBear
Now the question is what is the criteria of a good entriy. Good entry is not equivalent to picking up the top or the bottom. In my opinion, getting on the right direction is right entry regardless of where the entry is.
As long as it actually go's in that direction, yes.
There are those who know, and there are those who don't know.
  • #2,195
  • Jul 30, 2012 10:55pm Jul 30, 2012 10:55pm
Quoting palabara
I'm here to make money, I like to socialize with good peeps like you and DB and DonL and Trader74 and petehnm and everyone else..

At the same time, we are our worst enemy's, for the people that are "new" and reading out there.. You are your worst enemy, you can have all the forex knowledge out there.. But, if you can't control yourself it will do you no good!

Taking a hit is part for the course, don't let it discourage you, and don't feel like you've failed. I am stubborn at nature, and it took me a long time to coup that, I have no discipline....
Hi my name is Pete and I have A DD problem....
  • #2,196
  • Jul 30, 2012 10:58pm Jul 30, 2012 10:58pm
Quoting petehnm
Hi my name is Pete and I have A DD problem....
Lol, we have medication to help you!
There are those who know, and there are those who don't know.
  • #2,197
  • Jul 30, 2012 11:00pm Jul 30, 2012 11:00pm
Last Friday, a member asked me to tell the bulls to be careful. So I posted this cartoon. Let me share this with everyone again. Whether or not his call was correct is not important. You are the one to make your decision.
Attached Image
daddybearforex. com
  • #2,198
  • Jul 30, 2012 11:00pm Jul 30, 2012 11:00pm
Quoting palabara
Lol, we have medication to help you!

  • #2,199
  • Jul 30, 2012 11:05pm Jul 30, 2012 11:05pm
Hey papa have you ever used fractals.....
  • #2,200
  • Jul 30, 2012 11:08pm Jul 30, 2012 11:08pm
Quoting petehnm
Hey papa have you ever used fractals.....
Yes. Not now.
daddybearforex. com
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