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  • #4,021
  • Aug 5, 2012 9:22pm Aug 5, 2012 9:22pm
Thanks guys for checking my artwork (http://sahakianart.com/index.html)
I appreciate it.
Lost -35pips on Euro on that huge break out.Totally caught me off guard.
Closed my position only to see come down and make profit.I actually thought it was heading full blast to 25.Very strange indeed considering we are in Asian session.
I am new to trading 6 months -2k already.It seems as soon as I gain some insight and profit curvy ball just knacks me down.
I am intelligent person but this is by far most challenging thing I ever tried to accomplish.
I say harder then drawing a nude
I am just curious what made you profitable.What was the turning point.
In trading, you have to be defensive and aggressive at the same time
  • #4,022
  • Aug 5, 2012 9:22pm Aug 5, 2012 9:22pm
Quoting palabara
It looks like a pennant, and its heading into tight consolidation. which will cause a breakout.. will see something.. I won't.. I'll be pretending to sleep. I'd say.. defintally exit your long, if support breaks.
thanks for your thoughts.

I'll definitely be prepared and it looks like it's about to go

Trigger ready
  • #4,023
  • Aug 5, 2012 9:32pm Aug 5, 2012 9:32pm
Quoting Davit
Thanks guys for checking my artwork (http://sahakianart.com/index.html)
I appreciate it.
Lost -35pips on Euro on that huge break out.Totally caught me off guard.
Closed my position only to see come down and make profit.I actually thought it was heading full blast to 25.Very strange indeed considering we are in Asian session.
I am new to trading 6 months -2k already.It seems as soon as I gain some insight and profit curvy ball just knacks me down.
I am intelligent person but this is by far most challenging thing I ever tried to accomplish.
I...
It was a Market maker stop loss hunt, because they can see a huge pile of shorts, its Asian session, and they took advantage to knock them all out..make profit and then ride it down. You've got caught in a bad mix.. it happens.

Trading is challenging, because you have a lot of diffrent aspects, that all co-exist on one plane, you cannot figure out one thing, you need to understand the master complex plan. It will come in time, don't feel discouraged.. it takes time and experiance to become good.

Read and listen to what people say here, ask questions.. and try and fix what your doing, by learning from those who do good, and by seeing what your mistakes are, and in time.. youll regain everything PLUS.

Don't get discouraged, don't jump in just to be in, listen read, observer, and ask. A month here, with you asking questions, I assure you will see improvement.
There are those who know, and there are those who don't know.
  • #4,024
  • Aug 5, 2012 9:34pm Aug 5, 2012 9:34pm
Quoting doblece
Grand-daughter brought me and taped a new gift to my trading screen. A sign? :-D

Much pips to bulls and bears alike!

looks like a sign to me.....that's really neat...does she ask about your charts and what they are....
  • #4,025
  • Aug 5, 2012 9:40pm Aug 5, 2012 9:40pm
Quoting palabara
It was a Market maker stop loss hunt, because they can see a huge pile of shorts, its Asian session, and they took advantage to knock them all out..make profit and then ride it down. You've got caught in a bad mix.. it happens.

Trading is challenging, because you have a lot of diffrent aspects, that all co-exist on one plane, you cannot figure out one thing, you need to understand the master complex plan. It will come in time, don't feel discouraged.. it takes time and experiance to become good.

Read and listen to what people say here, ask questions.....
Thank you.I am laboriously reading trading books etc. but every day brings something new that I was not aware.
Experience is everything.
I was trading demo and making a killing like everyone else and thought this was easy.
Demo taught me nothing.In some way it imprinted wrong associations or false mental associations.
Thanks for encouragement.
In trading, you have to be defensive and aggressive at the same time
  • #4,026
  • Aug 5, 2012 10:01pm Aug 5, 2012 10:01pm
Hi everyone, I see AUDJPY bullish, chart here:
Attached Image (click to enlarge)
Click to Enlarge Name: aj.gif Size: 20 KB
  • #4,027
  • Aug 5, 2012 10:02pm Aug 5, 2012 10:02pm
Hey gang,

Hope you had a great weekend! I have decided to stick with a 500 dollar balance in my account and trade mini lots for now. I feel you have to have some skin in the game if you want to get good!

With that being said, Im expecting a small retracement back to 1.0532 before the bulls decide to take a balloon ride up to 1.06xx and beyond. Please feel free to share your opinions on this! Have a great week all!
Good luck and may the odds be ever in your favor!
  • #4,028
  • Aug 5, 2012 10:11pm Aug 5, 2012 10:11pm
Quoting dbutton1990
Hey gang,

Hope you had a great weekend! I have decided to stick with a 500 dollar balance in my account and trade mini lots for now. I feel you have to have some skin in the game if you want to get good!

With that being said, Im expecting a small retracement back to 1.0532 before the bulls decide to take a balloon ride up to 1.06xx and beyond. Please feel free to share your opinions on this! Have a great week all!
I am a newbie trader but what I gathered so far 55 is support level or important psychological level.If breaks perhaps 50 then either UP or Down
In trading, you have to be defensive and aggressive at the same time
  • #4,029
  • Aug 5, 2012 10:18pm Aug 5, 2012 10:18pm
Quoting dbutton1990
Hey gang,

Hope you had a great weekend! I have decided to stick with a 500 dollar balance in my account and trade mini lots for now. I feel you have to have some skin in the game if you want to get good!

With that being said, Im expecting a small retracement back to 1.0532 before the bulls decide to take a balloon ride up to 1.06xx and beyond. Please feel free to share your opinions on this! Have a great week all!

completely agree with this statement....I just think that if your really wanting to learn.... having money in the market will help keep you honest about your capabilities...good trading to you bro...
  • #4,030
  • Aug 5, 2012 11:38pm Aug 5, 2012 11:38pm
Quoting dbutton1990

Thanks Doblece! I plan on studying my butt off the next couple of months...I'll be back in the game at the beginning of the year! This time around though, I think I will start with mini...
Before your butt is off, try this one first.
https://sites.google.com/site/tradin...-groups-behave (https://sites.google.com/site/tradingstrategiesschool/module-trading-psychology/elliot-wave-theory-and-how-groups-behave)
-DB-


daddybearforex. com
  • #4,031
  • Aug 5, 2012 11:42pm Aug 5, 2012 11:42pm
Quoting March2011
Hi everyone, I see AUDJPY bullish, chart here:
Welcome March2011. Although you are in the wrong thread, I'd still respond to your message. Yes, AUDJPY looks bullish indeed.
daddybearforex. com
  • #4,032
  • Aug 5, 2012 11:44pm Aug 5, 2012 11:44pm
Quoting mm3934
fwiw, I'm currently watching this short term pennant, flag or whatever it is.

A close above the red utl and i will add to my long.

I'll close my existing long if we break below 10550 looking for a retrace to 10525 ish for another long entry
trade update... even though it's only a small a break of this tiny trend line I entered a small long 1.05679.

Realise I'll probably bump my head in a minute and run a biggish risk of getting slapped down I have the protection of a larger trade from 1.05219.

We'll see what happens
  • #4,033
  • Aug 5, 2012 11:48pm Aug 5, 2012 11:48pm
Quoting Davit
Thanks guys for checking my artwork (http://sahakianart.com/index.html)
I appreciate it.
Lost -35pips on Euro on that huge break out.Totally caught me off guard.
Closed my position only to see come down and make profit.I actually thought it was heading full blast to 25.Very strange indeed considering we are in Asian session.
I am new to trading 6 months -2k already.It seems as soon as I gain some insight and profit curvy ball just knacks me down.
I am intelligent person but this is by far most challenging thing I ever tried to...
Hello Davit,
Most of us lost in the beginnings. Some marginally, other blew complete first account balances. For me it has only been the last couple of years that I have stayed in profit and I think that comes from spending countless hours observing market fluctuations and gaining a sense of how a particular currency pair acts, responds and changes to the rampages of the world that we live in. In this current world climate, attention has to be paid to foundations, current affairs, technicals, and weight has to be given to sentiment. Finding precise entry points are challenging and I know that I miss many of them in favor of the most convincing.

I think, when I realized, that just because I sat down to the charts, didn't mean that I had to take a trade. Early on, I would get impatient and enter a trade just because I felt that being a trader meant that I needed to be IN the market. Once I gave up that feeling of impatience and applied past experiences to Price Actions, I was able to find trades that were right for me, better than 2 out of 3 times.

The biggest downfall to my account early on was taking too high a risk with my trading, looking for profits instead of consistently gaining pips. Without a lot of experience, you may with luck, have some great profits at the beginning only to turn around and have a rash of losing trades that really eat into your account. Don't be too excited about making money in this business until you have put in the methodical practice necessary. For some of us, that can take years and don't let people make you feel like you are wasting your time

All of that to be taken in the context of good discipline and money management!

In my opinion, trading is the most difficult endeavor you will embark on, but the most rewarding if you put in the time and effort.....SAFELY.
  • #4,034
  • Aug 5, 2012 11:54pm Aug 5, 2012 11:54pm
Quoting Davit
Thanks guys for checking my artwork (http://sahakianart.com/index.html)
I appreciate it.
Lost -35pips on Euro on that huge break out.Totally caught me off guard.
Closed my position only to see come down and make profit.I actually thought it was heading full blast to 25.Very strange indeed considering we are in Asian session.
I am new to trading 6 months -2k already.It seems as soon as I gain some insight and profit curvy ball just knacks me down.
I am intelligent person but this is by far most challenging thing I ever tried to...
Here is my 2 cents. The more intelligent you are the more money you are going to lose.

The Forex market is always irrational at best. We are all riding on a violent beast. At any moment, somebody will be thrown away from its back. Whoever can grab its slippery scales may be able to survive.

Forex trading is a game of mind. It does not need an intelligent brain. IMHO
daddybearforex. com
  • #4,035
  • Aug 5, 2012 11:58pm Aug 5, 2012 11:58pm
Quoting Davit
I am intelligent person but this is by far most challenging thing I ever tried to accomplish.
I say harder then drawing a nude
I am just curious what made you profitable.What was the turning point.
Try this prescription:
https://sites.google.com/site/tradin...-groups-behave (https://sites.google.com/site/tradingstrategiesschool/module-trading-psychology/elliot-wave-theory-and-how-groups-behave)

-DB-
daddybearforex. com
  • #4,036
  • Aug 6, 2012 12:07am Aug 6, 2012 12:07am
Hi guys
I need your kind advise, I am short audusd @ 1.035 SL 1.06 and long usdjpy @ 79.75 SL 77.45
I am looking for something like a month time frame and and position @ 2 lots each. Now seeing it eats up so much of my equity? should i close the position or let it run.

Thank you.
  • #4,037
  • Aug 6, 2012 12:12am Aug 6, 2012 12:12am
Quoting Davit
I say harder then drawing a nude
Here is my 2 cents again.

You are right on the money. I would enjoy drawing a nude instead of trading the Forex market. However, I get more excited when trading the Forex market because it's a naked party.
daddybearforex. com
  • #4,038
  • Aug 6, 2012 12:14am Aug 6, 2012 12:14am
Quoting petehnm
looks like a sign to me.....that's really neat...does she ask about your charts and what they are....
Hmm... though the charts seem to be telling a different story ...

Indeed she's often curious about the market direction and usually runs to warn me when she hears one of the alerts I set: "the forex! the forex! quick!"

She has been wondering lately why do I post so many "funny drawings" on the forum (and not only charts) but as she saw there were other people posting cartoons as well, she decided it was a "normal work behaviour". She likes DB's better than mine, lol.

Back to the markets: If last thursday spike's high is broken, I think that next move could reach the upper descending trendline coming from all-time highs around 1.0670/690, then price could correct to the 23.6% of last intermediate swing and 50% of the whole daily swing high, at around 1.0433.

Attached Image (click to enlarge)
Click to Enlarge Name: audtl.gif Size: 23 KB


A 23.6 correction from actual price if resistance at last high holds, would reach near actual SMA34 level at the 1.0345/320 zone.

P.S. While I was writing this post, one of the tapes holding the puppet bear unfastened and it is now perillously hanging, LOL.
  • #4,039
  • Aug 6, 2012 12:15am Aug 6, 2012 12:15am
Quoting DaddyBear
Here is my 2 cents again.

You are right on the money. I would enjoy drawing a nude instead of trading the Forex market. However, I get more excited when trading the Forex market because it's a naked party.
I just thought of a cartoon for that!!
  • #4,040
  • Aug 6, 2012 12:15am Aug 6, 2012 12:15am
Quoting DaddyBear
Here is my 2 cents again.

You are right on the money. I would enjoy drawing a nude instead of trading the Forex market. However, I get more excited when trading the Forex market because it's a naked party.
This is an illustration of a naked party ......
Attached Image (click to enlarge)
Click to Enlarge Name: AVATAR-L.JPG Size: 54 KB
daddybearforex. com
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