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  • #6,741
  • Aug 19, 2012 11:09am Aug 19, 2012 11:09am
Quoting irfandbl
so SL is the only solution against hope am I right?

Hi, my name is irfandbl, and I have a problem with SL and DD
not the solution. A stop loss will make you lose money.
It will usually be placed at the exact price where the price reverses.
A stop win is a much better solution.
  • #6,742
  • Aug 19, 2012 11:22am Aug 19, 2012 11:22am
Quoting Mingary
not the solution. A stop loss will make you lose money.
It will usually be placed at the exact price where the price reverses.
A stop win is a much better solution.
Indeed a stop win is far way better then stop loss. But I was asking about the solution if the price goes against us before it even gave us the profit, not after

p.s. I rarely use stop win, I usually take my profit whenever I think it's enough
  • #6,743
  • Aug 19, 2012 11:26am Aug 19, 2012 11:26am
Quoting Mingary
not the solution. A stop loss will make you lose money.
It will usually be placed at the exact price where the price reverses.
A stop win is a much better solution.

Stop losses by their very nature get hit first and then reverse.

Because remember this, where you are putting a stop loss, you are adding to a position against you at that level. IE, one persons stop loss, is another persons area of DEMAND if they are buying, and you are selling.

However, once they go off for everyone else, if you didn't set a stop loss, you can easily lose 10-50% more if you hold on in a breakout against you. So it's usually best to just take the loss from a well placed tactical SL.

It is definitely annoying, if you're buying and the stop loss was 50 and the low was 49, but that's part of the game, you win and lose mony on the .01% changes.
  • #6,744
  • Aug 19, 2012 11:35am Aug 19, 2012 11:35am
Quoting lolygagv2
Stop losses by their very nature get hit first and then reverse.

Because remember this, where you are putting a stop loss, you are adding to a position against you at that level. IE, one persons stop loss, is another persons area of DEMAND if they are buying, and you are selling.

However, once they go off for everyone else, if you didn't set a stop loss, you can easily lose 10-50% more if you hold on in a breakout against you. So it's usually best to just take the loss from a well placed tactical SL.

It is definitely annoying, if you're buying...
My preference is to treat open losses the same as open wins.
Managing both.
Make the most of the winners and use every retracement to reduce position on the losers until gone.
  • #6,745
  • Aug 19, 2012 11:45am Aug 19, 2012 11:45am
Quoting DaddyBear
Luis, I thought the one behind the tree is the Bear. Now, I realize that is not the case. Seems to me you are a bull, aren't you?
the cartoon doesnt say that!!! Sometimes trendlines break or are not draw well...
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #6,746
  • Aug 19, 2012 12:07pm Aug 19, 2012 12:07pm
Quoting DaddyBear
King, in case you overlooked my earlier reply.

#5!
i guess i missed to read your earlier reply....
Sometimes it's better to be wrong,to learn..
  • #6,747
  • Edited 2:24pm Aug 19, 2012 12:22pm | Edited 2:24pm
Quoting irfandbl
so SL is the only solution against hope am I right?

Hi, my name is irfandbl, and I have a problem with SL and DD
IMO,
1. When a person uses tight SL like 5 to 10 pips all the time, it means he/she lacks confidence as to what the market is doing.
2. Due to the nature of the Forex market volatility, the PA tends to fluctuate sharply. Using tight SL is like giving a tip to the waiter without taking a bite of the main course you just ordered.
3. A SL is needed but one should give one's positions some room to breathe. A tight SL is the best way inviting the MM to haunt your stop losses.
daddybearforex. com
  • #6,748
  • Aug 19, 2012 12:25pm Aug 19, 2012 12:25pm
Quoting KiNgEdwarD
i guess i missed to read your earlier reply....
Are you happy with #5?

http://www.forexfactory.com/attachme...1&d=1344999577
daddybearforex. com
  • #6,749
  • Aug 19, 2012 12:25pm Aug 19, 2012 12:25pm
Quoting DaddyBear
Smoking means one cannot control one's own emotion. This is not a tasty ingredient of green pips recipes IMO.
Sometimes it's better to be wrong,to learn..
  • #6,750
  • Aug 19, 2012 12:30pm Aug 19, 2012 12:30pm
Quoting DaddyBear
Are you happy with #5?

http://www.forexfactory.com/attachme...1&d=1344999577
you mean i am neither wrong nor right,no wrong entries i had made nor right one,same with exiting points...if that's wrong...please announce RULE # 5....
Sometimes it's better to be wrong,to learn..
  • #6,751
  • Aug 19, 2012 12:38pm Aug 19, 2012 12:38pm
Tuesday AUD Reserve Bank Board - August Minutes should continue aussie to push downwards. The path of least resistance for aussie is down (at least in aud/usd and gbp/aud pairs).
  • #6,752
  • Edited 1:03pm Aug 19, 2012 12:47pm | Edited 1:03pm
Quoting palabara
you know, what the biggest problem is and why everyone fails all the time.. Because everyone is not looking for the "next move" but the next 3 moves after that, and trying to bank on it now..

If instead you play the next move, and the next move you'll get into rhythm and get a dance going.. Instead of trying to anticipate way to long ahead.

If you said, it will go down to 1.0370 then play on it and then play on the move back up..
It depends on what TF your are using. I know you are scalping all the time. Your TF would be smaller than others'. There is nothing wrong to look for the next 3 moves. A good player of chess games would not only look for the next move only. IMHO
daddybearforex. com
  • #6,753
  • Aug 19, 2012 12:49pm Aug 19, 2012 12:49pm
Quoting DaddyBear
It depends on what TF your are using. I know you are scalping all the time. Your TF would be smaller than others' There is nothing wrong to look for the next 3 moves. A good player of chess games would not only look for the next move only. IMHO
Here is the chart during Feb. and Mar. 1012. FYI
Attached Image
daddybearforex. com
  • #6,754
  • Aug 19, 2012 1:38pm Aug 19, 2012 1:38pm
Quoting KiNgEdwarD
.
King, are you a non-smoker? Good for you! Long life to you my friend! Environment-friendly! Save you a lot of money!
daddybearforex. com
  • #6,755
  • Edited 2:24pm Aug 19, 2012 2:08pm | Edited 2:24pm
Quoting DaddyBear
IMO,
1. When a person uses tight SL like 5 to 10 pips all the time, it means he/she lacks confidence as to what the market is doing.
2. Due to the nature of the Forex market volatility, the PA tends to fluctuate sharply. Using tight SL is like giving a tip to the waiter without taking a bite of the main course you just ordered.
3. A SL is needed but one should give one's positions some room to breathe. A tight SL is the best way inviting the MM to haunt...
The Bull left the restaurant without eating anything he just ordered because he had been on a TSL diet .........
Attached Image (click to enlarge)
Click to Enlarge Name: SL.JPG Size: 84 KB
daddybearforex. com
  • #6,756
  • Aug 19, 2012 2:20pm Aug 19, 2012 2:20pm
Quoting nbhaya
How right you are - managing emotions seems to be the key to sucess!
Are you NewBiehaya? Welcome aboard! Please come to visit us again. -DB-
daddybearforex. com
  • #6,757
  • Aug 19, 2012 2:22pm Aug 19, 2012 2:22pm
Quoting gnomoneey
what is the july 12th low and aug 8 high?
what is the fib retracement it's approaching?
what is probability it will bounce up or go to next fib level?

please post chart...
i'm on my iphone and can't chart
thanks,
G

Try this app:
http://itunes.apple.com/us/app/trade-interceptor-forex-mobile/id329476057?mt=8

I use it on Android and charting is really awesome. Should be the same on your device.
  • #6,758
  • Aug 19, 2012 2:26pm Aug 19, 2012 2:26pm
Quoting doblece
Try this app:
http://itunes.apple.com/us/app/trade-interceptor-forex-mobile/id329476057?mt=8

I use it on Android and charting is really awesome. Should be the same on your device.
Dobie, where have you been? Did you come back from your trip around your country?
daddybearforex. com
  • #6,759
  • Aug 19, 2012 2:35pm Aug 19, 2012 2:35pm
Quoting DaddyBear
Are you NewBiehaya? Welcome aboard! Please come to visit us again. -DB-
Yes DB, have been reading this thread over the week and having found it interesting, mustered some courage to post my thoughts - still and will always be a learner or rather evolving as, having learnt the hard way, Market is King! You must respect it! BTW still grappling with your cartoons, need to figure out which TFs they relate to - alternatively you could make it easier and tell me the TFs you mostly refer to. Thanks for the welcome.
In The End It is Always OK. If It Is Not OK Then It Is Not The End.
  • #6,760
  • Aug 19, 2012 2:39pm Aug 19, 2012 2:39pm
Quoting DaddyBear
It depends on what TF your are using. I know you are scalping all the time. Your TF would be smaller than others'. There is nothing wrong to look for the next 3 moves. A good player of chess games would not only look for the next move only. IMHO

A good chess player wins the game before the first move is made.


I wanted to long on the AU before the weekend close. I can already see price moving up before the open. I'm very curious as to what's making the price move up before the open...
Play the players, not the cards.
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