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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #49,701
  • Aug 23, 2012 11:33am Aug 23, 2012 11:33am
Quoting Tom_D_Trader
Happens still quite often.
That's no sh*t!
  • #49,702
  • Aug 23, 2012 11:34am Aug 23, 2012 11:34am
Quoting FXSwissTrader
GL to you GT. Just remember this quote everyday.

"Before success comes in any man's life, he's sure to meet with much temporary defeat and, perhaps some failures. When defeat overtakes a man, the easiest and the most logical thing to do is to quit. That's exactly what the majority of men do." -Napoleon Hill

Beyond the Quote:
[color=Black]It is impossible for obstacles to be completely avoided on your road to success. Just remember, do not get discouraged and learn from the difficulties...
Thanks Suiss. Nice quote but very true. I have been passionate about this kind of business since i was young and have been trading only for a few years learning alot along the way. Unfortunatly i was made redundant few months back so decided to make a go of it on here as i was able to hold my head above water. I've had my good times on here and my bad and i dont think you can ever stop learning on here. Still got a small amount to build up from so will keep going but for now bills need to be paid and a job is in order
  • #49,703
  • Aug 23, 2012 11:37am Aug 23, 2012 11:37am
Quoting Globetrotter
Thanks for the kind words Tom and Carson. I will pull it back but very slowly now. Currently long up to around 12660 ish
Okay great.

Why are you long?

Are you buying a top?

Are you entering on a retrace and successful bounce off support?

Have fundamentals changed?

YOU MUST ALWAYS HAVE A REASON FOR ENTRY- whether it works out or not, and have a reasonable exit strategy other than margin call.

Just food for thought


Don't be a lemming!
  • #49,704
  • Aug 23, 2012 11:40am Aug 23, 2012 11:40am
holy... m5 bull flag
  • #49,705
  • Aug 23, 2012 11:41am Aug 23, 2012 11:41am
Quoting Globetrotter
http://youtu.be/UtKADQnjQmc

Well just a quick heads up from last night incase anyone was wondering. I got well and truly slaughtered. Cut my losses and gave up the chase virtually wiping out most of my account. So its time to revaluate and get a proper job. Well for the time being anyway. So lesson learnt the hard way. If a quick short at high leverage goes against you do yourself a favour and pull the plug b4 it gets out of hand and always have a back up plan. I chased my dream on very little and failed but i can...
sorry to hear that.its impossible to pull the plug when one use high leverage and short time frame becos everytime u try to pull it market action will make sure that to make u feel that the turning is just around the corner.once u put the trade,forget about TA,FA,its just ur feeling of fear and greed take over compleltly.

here is my advice,take time to come back here.make sure that u have atleast 10 to 20 thousand pounds and use negative leverage and big time frames just like PT and now ME and God bless u and give u the strength to move forward and above all comes out a better human being.do comes to the thread frequently and observe some good traders here particularly,PT,CgB,Fxswiss,CM,tom,reckon,goferpip,aaronward,wulfgar and others cheers
Allah has permitted trade and has forbidden interest [koran]
  • #49,706
  • Aug 23, 2012 11:41am Aug 23, 2012 11:41am
Thanks Gofor. I had started off small. Took me 8 months to blow my 1st account so knew i was on the right track. Had a year out and then invested a small amount again. Lost a bit but then started making money. I continued this and was doing well. Then recent events occured so decided to go for it. Got knocked hard on NFP's bk in May but made a come back and was doing well untill this week. It hurt me hard but I always have faith in something I belief in so roll on the next hurdle and lets get this account bk up 2 scratch but this time slowly does it
  • #49,707
  • Aug 23, 2012 11:43am Aug 23, 2012 11:43am
Quoting Gofer Pips
Okay great.

Why are you long?

Are you buying a top?

Are you entering on a retrace and successful bounce off support?

Have fundamentals changed?

YOU MUST ALWAYS HAVE A REASON FOR ENTRY- whether it works out or not, and have a reasonable exit strategy other than margin call.

Just food for thought


Don't be a lemming!

Yep... be consistent. If it does not work then figure the issue out. You will NEVER win at this game unless you have confidence on what your doing will win overall. Confidence brings consistency and consistency will bring confidence with the proper plan. They are tied togethor.
  • #49,708
  • Aug 23, 2012 11:44am Aug 23, 2012 11:44am
Thats GoForTheWin.
"I know one thing, that I know nothing." Sokrates
  • #49,709
  • Aug 23, 2012 11:47am Aug 23, 2012 11:47am
Quoting drzakir123
...make sure that u have atleast 10 to 20 thousand pounds...
If I was that heavy, I don't think I could press the sell or buy button without a
truly "fat finger" trade
Attached Image
  • #49,710
  • Aug 23, 2012 11:49am Aug 23, 2012 11:49am
Quoting Gofer Pips
Okay great.

Why are you long?
Long because of short term trend

Are you buying a top?
I think its near the top but not quite there yet

Are you entering on a retrace and successful bounce off support?
Im looking at around 12660ish before fundies kick in and this hopium balloon burst

Have fundamentals changed?
No. Just a load of bull and hopium in the air right now

YOU MUST ALWAYS HAVE A REASON FOR ENTRY- whether it works out or not, and have a reasonable exit strategy other than margin call.

Just food for thought


Don't...
I hope these answer your questions and that I am on the right track. These are just answers to my basic analysis of the market. Im a simple person and like to keep things simple.
  • #49,711
  • Aug 23, 2012 11:49am Aug 23, 2012 11:49am
Quoting Globetrotter
http://youtu.be/UtKADQnjQmc

Well just a quick heads up from last night incase anyone was wondering. I got well and truly slaughtered. Cut my losses and gave up the chase virtually wiping out most of my account. So its time to revaluate and get a proper job. Well for the time being anyway. So lesson learnt the hard way. If a quick short at high leverage goes against you do yourself a favour and pull the plug b4 it gets out of hand and always have a back up plan. I chased my dream on very little and failed...
Sorry to hear that. Have tried with smaller amount and high leverage and totally wiped out.

Don't give up.
  • #49,712
  • Aug 23, 2012 11:52am Aug 23, 2012 11:52am
Quoting Globetrotter
http://youtu.be/UtKADQnjQmc

Well just a quick heads up from last night incase anyone was wondering. I got well and truly slaughtered. Cut my losses and gave up the chase virtually wiping out most of my account. So its time to revaluate and get a proper job. Well for the time being anyway. So lesson learnt the hard way. If a quick short at high leverage goes against you do yourself a favour and pull the plug b4 it gets out of hand and always have a back up plan. I chased my dream on very little...

Sorry for your loss of funds and congratulations on your gain of wisdom.
Those who say it cannot be done should not interrupt those who are doing it
  • #49,713
  • Aug 23, 2012 11:52am Aug 23, 2012 11:52am
Quoting Gofer Pips
If I was that heavy, I don't think I could press the sell or buy button without a
truly "fat finger" trade
if that the case he can use his dik to press the sell or buy button,[i am sorry for my french its not very good ]
Allah has permitted trade and has forbidden interest [koran]
  • #49,714
  • Aug 23, 2012 12:01pm Aug 23, 2012 12:01pm
Quoting Globetrotter
I hope these answer your questions and that I am on the right track. These are just answers to my basic analysis of the market. Im a simple person and like to keep things simple.

Why are you long?
Long because of short term trend
What is short term? Are you a scalper or intraday trader?

Are you buying a top?
I think its near the top but not quite there yet
Guessing not allowed. You may have a reason, but justify entry, and exit. REMEMBER: every trade plan has entry and exits as well as a plan B

Are you entering on a retrace and successful bounce off support?
Im looking at around 12660ish before fundies kick in and this hopium balloon burst
This does not answer the question. Where is entry and why? Are you exiting 1.2660? Are you going to sell at that level or await confirmation of high?

Have fundamentals changed?
No. Just a load of bull and hopium in the air right now
Again, this answers question, but are you contrarian trading short term? If so, again justify why. Emotional guesswork is recipe for disaster

YOU MUST ALWAYS HAVE A REASON FOR ENTRY- whether it works out or not, and have a reasonable exit strategy other than margin call.

I am not trying to be hard on you. I have stated before, I'm a lover, not a fighter.

I am trying to help you develop a paradigm of reason for taking the trades you take.
  • #49,715
  • Aug 23, 2012 12:04pm Aug 23, 2012 12:04pm
FYI: Merkel and Hollande speaking at a joint news conference right now. Will post anything relevant.
  • #49,716
  • Aug 23, 2012 12:06pm Aug 23, 2012 12:06pm
Quoting PipTrapper

Sorry for your loss of funds and congratulations on your gain of wisdom.
Thanks PT and thanks DR. I have certainly weeded out the good traders from the bad on this forum. But most of my recent success has been down to you guys and reading cloggies posts when he was on here some time ago. U have made me learn much about myself and my own trading style. I lost because of my own stupidity. Its really as simple as that. I would still be riding this out with my other smaller shorts if it wasnt for 1 major mistake that i made. Please PT keep this thread up. And everyone else who contributes on here please keep going. You are all doing an excellent job on here and it has opened my eyes to many of things with regards to my mentality and trading style.
  • #49,717
  • Aug 23, 2012 12:07pm Aug 23, 2012 12:07pm
Quoting FXSwissTrader
FYI: Merkel and Hollande speaking at a joint news conference right now. Will post anything relevant.
Thx.
"I know one thing, that I know nothing." Sokrates
  • #49,718
  • Aug 23, 2012 12:10pm Aug 23, 2012 12:10pm
Quoting FXSwissTrader
FYI: Merkel and Hollande speaking at a joint news conference right now. Will post anything relevant.
Heard about it here http://www.bloomberg.com/tv/
  • #49,719
  • Aug 23, 2012 12:13pm Aug 23, 2012 12:13pm
German Chancellor Merkel says will discuss with French President Hollande the decisions on banking supervision and Greece.

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They are schedule to officially meet tomorrow and thus will have another news conference after their meeting regarding the above subject. Looks to me Greece is in the forefront AGAIN! Seriously, Greece is like a pimple on one's ass. You know it's there but just can't seem to see it to get rid of it.
  • #49,720
  • Aug 23, 2012 12:14pm Aug 23, 2012 12:14pm
Newswire: EU says it not expecting Spanish aid request any time soon.

Down we go!
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