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  • #686,501
  • Aug 30, 2012 8:42pm Aug 30, 2012 8:42pm
Quoting mym1990
Then come the profits with experience.
Not always, experience (the wrong one) can be of a burden.
"Men who can both be right and sit tight are uncommon."
  • #686,502
  • Aug 30, 2012 8:49pm Aug 30, 2012 8:49pm
Quoting Mike8
Not always, experience (the wrong one) can be of a burden.
Thats how my trading began. I experienced good performance on bad trades due to the financial crisis and lucky positions.

I was wiped out shortly after increasing by a factor of 50. There was no knowledge learned. Other than the forex market was something I wanted to learn.

I take longer term bigger positions now and am much more consistent. My win ratio is very high although I may go days without trading.

I miss many opportunities that other take advantage of but they are not 100% plays for me so I cannot take them.
  • #686,503
  • Aug 30, 2012 9:08pm Aug 30, 2012 9:08pm
Quoting Mike8
Not always, experience (the wrong one) can be of a burden.
You get experience only by commiting mistakes, others are just repeated boring tasks.
The Thief of Wall Street
  • #686,504
  • Aug 30, 2012 9:27pm Aug 30, 2012 9:27pm
Quoting klinckphilip
Thats how my trading began. I experienced good performance on bad trades due to the financial crisis and lucky positions.

I was wiped out shortly after increasing by a factor of 50. There was no knowledge learned. Other than the forex market was something I wanted to learn.

I take longer term bigger positions now and am much more consistent. My win ratio is very high although I may go days without trading.

I miss many opportunities that other take advantage of but they are not 100% plays for me so I cannot take them.
Sounds good to me.

Trading is nor easy for various reasons. and who says otherwise has different objective.

I can see on this thread a particular poster saying trading is easy. I think that is BS and he is given wrong informations. He is only driven by his huge ego and to appear differently for what he is.

Trading is about human condition, to trade well we need to know ourselves and that is f@cking hard, unless you drink a bottle of Vodka ......

I agree with you, you do not need to trade everyday. Money is the big swing for me, but I am also not that naive to belevie that different way of trading can bring huge profit for others.
"Men who can both be right and sit tight are uncommon."
  • #686,505
  • Aug 30, 2012 9:32pm Aug 30, 2012 9:32pm
Quoting Chicky
You get experience only by commiting mistakes, others are just repeated boring tasks.
Sorry I agree with you once more.

I also belevie that the right education can be of an advantage because not all of us has the ability to filter what is right for us, yes the mistakes with help us rectify that, but it will take longer time if not guided and many do not have the luxury of time.

Back later.
"Men who can both be right and sit tight are uncommon."
  • #686,506
  • Aug 30, 2012 9:36pm Aug 30, 2012 9:36pm
Quoting Mike8
Sorry I agree with you once more.

I also belevie that the right education can be of an advantage because not all of us has the ability to filter what is right for us, yes the mistakes with help us rectify that, but it will take longer time if not guided and many do not have the luxury of time.

Back later.
SOS

Guys, what did he just say? Looks something very philosophical
The Thief of Wall Street
  • #686,507
  • Edited 10:27pm Aug 30, 2012 10:10pm | Edited 10:27pm
what happening boys ?
did merkel left china ? i don't see any headlines
Mohan
  • #686,508
  • Aug 30, 2012 10:24pm Aug 30, 2012 10:24pm
Quoting mohan76
what happening bouys ?
did merkel left china ? i don't see any headlines
thread a bit quiet today...
so do the market...
maybe some range movement until Ben...

however it seems aussie kiwi break support last night..cable break trend line..

may help to drag eu down a bit more maybe
Patience, Emotion Control and Discipline.
  • #686,509
  • Aug 30, 2012 10:28pm Aug 30, 2012 10:28pm
Quoting johncen
thread a bit quiet today...
so do the market...
maybe some range movement until Ben...

however it seems aussie kiwi break support last night..cable break trend line..

may help to drag eu down a bit more maybe
planing to trade Ben ? i am thinking about closing book before Ben open his mouth.
today going to be hardest day to trade, end of week, end of month , end qe dream ..........
Mohan
  • #686,510
  • Aug 30, 2012 10:29pm Aug 30, 2012 10:29pm
Quoting johncen
thread a bit quiet today...
so do the market...
maybe some range movement until Ben...

however it seems aussie kiwi break support last night..cable break trend line..

may help to drag eu down a bit more maybe
It's like the calm before the storm. But maybe it's a setup for a bull/bear trap. I'm leaning towards bearish for tomorrow.
Time turns trend. - W.D. Gann
  • #686,511
  • Aug 30, 2012 10:32pm Aug 30, 2012 10:32pm
Quoting mohan76
planing to trade Ben ? i am thinking about closing book before Ben open his mouth.
today , end of week, end of month , end qe dream ..........
probably wont open new trade today...
but will hold short from above though...
Patience, Emotion Control and Discipline.
  • #686,512
  • Aug 30, 2012 10:33pm Aug 30, 2012 10:33pm
Quoting ForExtraPips
It's like the calm before the storm. But maybe it's a setup for a bull/bear trap. I'm leaning towards bearish for tomorrow.
yes...no confirm direction until break out...
so best option is wait..or scalp within range before break out

I prefer some more down though...
Patience, Emotion Control and Discipline.
  • #686,513
  • Aug 30, 2012 10:37pm Aug 30, 2012 10:37pm
Quoting klinckphilip
I take longer term bigger positions now and am much more consistent. My win ratio is very high although I may go days without trading.

I miss many opportunities that other take advantage of but they are not 100% plays for me so I cannot take them.
I don't post much, or really at all for that matter around here lol, but I've started to develop my own trading system by seeing what has been the most consistently profitable for me. I noticed this especially after I started tracking each trade I made. I've tried plenty of different ways to trade by lurking around here for awhile, reading, watching videos, testing my own theories, etc. and think I've got something down for now at least.

I definitely noticed that not trying to force trades or chase trends has benefited me greatly. If I miss the entry point I want with my system, then I missed it and I wait for the next setup to get in. As for this week, I've had to be patient and only made 2 trades. It kills me to make only 2 trades but they were both profitable and on the trade setups I like which is what counts. Yeah, I may have missed some setups I wanted but with school, work, trying to trade, and some sleep somewhere in there it's gonna happen. I've had to realize that I can't stare at the charts 24/7 and to not be in a trade all the time. This is just some of what I've learned so far and there's definitely a long way to go for me in becoming a good trader.
  • #686,514
  • Aug 30, 2012 10:49pm Aug 30, 2012 10:49pm
channel
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily.gif Size: 25 KB
Trading by EA
  • #686,515
  • Aug 30, 2012 11:00pm Aug 30, 2012 11:00pm
Quoting GumballCGT
I don't post much, or really at all for that matter around here lol, but I've started to develop my own trading system by seeing what has been the most consistently profitable for me. I noticed this especially after I started tracking each trade I made. I've tried plenty of different ways to trade by lurking around here for awhile, reading, watching videos, testing my own theories, etc. and think I've got something down for now at least.

I definitely noticed that not trying to force trades or chase trends has benefited me greatly. If I miss the...
good post
  • #686,516
  • Aug 30, 2012 11:01pm Aug 30, 2012 11:01pm
Quoting mmudasir
channel
Are you comfortable with your R:R ratio?
Time turns trend. - W.D. Gann
  • #686,517
  • Aug 30, 2012 11:04pm Aug 30, 2012 11:04pm
Quoting ForExtraPips
Are you comfortable with your R:R ratio?
it is 1:1
Trading by EA
  • #686,518
  • Aug 30, 2012 11:07pm Aug 30, 2012 11:07pm
Inserted Video


Today SR
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  • #686,519
  • Aug 30, 2012 11:08pm Aug 30, 2012 11:08pm
Quoting mmudasir
it is 1:1
Ouch! GL
Time turns trend. - W.D. Gann
  • #686,520
  • Aug 30, 2012 11:20pm Aug 30, 2012 11:20pm
Quoting Chicky
SOS

Guys, what did he just say? Looks something very philosophical
I doubt you did not grasped the concept.
"Men who can both be right and sit tight are uncommon."
344 traders viewing now, 1 is registered:
Sandy1994