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  • #701,461
  • Oct 2, 2012 9:38am Oct 2, 2012 9:38am
Quoting Rag2RichesFX
being confident but humble is a deadly combination for a trader.

im working on both of them... need more confidence and humility

lack both though and you will fail no doubt
Can't remember the quote but Paul Tudor Jones
had a good one line.
There is a trader on FF that has it as his quote i think.
You can remain irrational longer than you can remain solvent.
  • #701,462
  • Oct 2, 2012 9:40am Oct 2, 2012 9:40am
Quoting screwup
and 2nd come on get me ...
Attached Image (click to enlarge)
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  • #701,463
  • Oct 2, 2012 9:40am Oct 2, 2012 9:40am
there is no equity curve goes up to + infinity

if so then will come down from - infinity

basic math rule

every trader will have a loosing stake.

walker.

Quoting stevewalker
if no more highs

I will short with low risk again

wil see soon
  • #701,464
  • Oct 2, 2012 9:42am Oct 2, 2012 9:42am
one look at the dollar index and you can see how EU needs to go down before going back up..

then big up move to 1.31..
Be hopeful in a winning position, and fearful in a losing position.
  • #701,465
  • Oct 2, 2012 9:43am Oct 2, 2012 9:43am
watching 5 min chart

bouced from 2925


Quoting stevewalker
there is no equity curve goes up to + infinity

if so then will come down from - infinity

basic math rule

every trader will have a loosing stake.

walker.
  • #701,466
  • Oct 2, 2012 9:44am Oct 2, 2012 9:44am
Are we looking at a FRI 28 repeat?
  • #701,467
  • Oct 2, 2012 9:45am Oct 2, 2012 9:45am
Quoting kibescorp
If you get the direction right but are stopped out first due to what is essentially NOISE, then the last thing you want to do is enter in the opposite direction. All that would do is result in TWO losses back-to-back, which is essentially the most common way of losing for traders using a stop loss.

For traders that don't use a SL, there will generally only be one loser, and it is known as a margin call.
See quotes like this is what upsets me. He clearly states the obivious, yets promotes trading with no stop loss which is beyond reckless. You can see he is smart enough to always look at things at the bad side (unless he is posting it) Take a look at my losing position. I called short with a stop loss of 6. I was in profit as much as 2 points when we got a 8 pip candle in one min. That of course stopped me out. Had I used a reverse order, with even the same lot size, and a stop loss of 5 once again. I WOULD OF NEVER STOPPED out, and gainned over 18 points on the spike up, because as it moved up it never closed back under the fib it last crossed. That is what you call Smart Scalping. Yet from his quote you can tell that sort of trading never crossed his mind once. Which is why he doesnt scalp.
He who guess is LOST!
  • #701,468
  • Oct 2, 2012 9:45am Oct 2, 2012 9:45am
it is really difficoult to get you


Quoting screwup
  • #701,469
  • Oct 2, 2012 9:45am Oct 2, 2012 9:45am
i cant take the way markets trade anymore... they over shoot so far and never stop moving in one direction...

(looking at euro aussie)

i mean i jsut think to myself, can it be this easy?

honestly this is a break through for me, just chase price on any trend and you will make money..

i mean just look at euro today, you could have bought pretty much after ANY dip and had a very good day..


last thing before i get off for the day... IT NEVER works when i try it.. except for that last long @ 24... the bulls are STILL feeding off of that

to say i am in shock from todays PA is an understatement... its more than likely real money buying disregarding technicals (because they know eventually EU will be back in the 1.40s.. how could it not be? yet from technical perspective also.. its not going to move straight there)...

just frustrated, pretty scratch day for me today (unless EU starts heading down for real now)

peace my peeps
Be hopeful in a winning position, and fearful in a losing position.
  • #701,470
  • Oct 2, 2012 9:46am Oct 2, 2012 9:46am
watch 2938/43


Quoting stevewalker
watching 5 min chart

bouced from 2925
  • #701,471
  • Oct 2, 2012 9:46am Oct 2, 2012 9:46am
Quoting StopGuessing
Not sure what being humble has to do with being a sucessful trader.
Oh you will when you've been in this game long enough.
You can remain irrational longer than you can remain solvent.
  • #701,472
  • Oct 2, 2012 9:46am Oct 2, 2012 9:46am
Just went short on the eur at 2935
PATIENCE IS A VIRTUE OF KINGS
  • #701,473
  • Oct 2, 2012 9:50am Oct 2, 2012 9:50am
Quoting Rag2RichesFX
one look at the dollar index and you can see how EU needs to go down before going back up..

then big up move to 1.31..
You might be right but i'm not so sure,
daily DX looks to be rolling over to me,
tonights close might give a better picture.
Attached Image (click to enlarge)
Click to Enlarge Name: pe14.jpg Size: 92 KB
You can remain irrational longer than you can remain solvent.
  • #701,474
  • Oct 2, 2012 9:51am Oct 2, 2012 9:51am
Quoting StopGuessing
See quotes like this is what upsets me. He clearly states the obivious, yets promotes trading with no stop loss which is beyond reckless. You can see he is smart enough to always look at things at the bad side (unless he is posting it) Take a look at my losing position. I called short with a stop loss of 6. I was in profit as much as 2 points when we got a 8 pip candle in one min. That of course stopped me out. Had I used a reverse order, with even the same lot size, and a stop loss of 5 once again. I WOULD OF NEVER STOPPED out, and gainned over...
This chart says it all.
Attached Image (click to enlarge)
Click to Enlarge Name: smartscalp.JPG Size: 145 KB
He who guess is LOST!
  • #701,475
  • Oct 2, 2012 9:52am Oct 2, 2012 9:52am
well my short is very short term till 1.29133
PATIENCE IS A VIRTUE OF KINGS
  • #701,476
  • Oct 2, 2012 9:52am Oct 2, 2012 9:52am
short @2936
low risk

Quoting stevewalker
watch 2938/43
  • #701,477
  • Oct 2, 2012 9:56am Oct 2, 2012 9:56am
it may down to 2915

Quoting stevewalker
short @2936
low risk
  • #701,478
  • Oct 2, 2012 9:57am Oct 2, 2012 9:57am
Now using my system I only enter on 23.6 and 23.6 recrosses. You can see that I entered the short under the 23.6 and my stop loss was set to the recrossing of the same 23.6 Yet I was to damm busy typing to have opened the other account in order to set up the pending order on the buy side.
He who guess is LOST!
  • #701,479
  • Oct 2, 2012 9:58am Oct 2, 2012 9:58am
Here it is.
Attached Image (click to enlarge)
Click to Enlarge Name: fibsadded.JPG Size: 136 KB
He who guess is LOST!
  • #701,480
  • Oct 2, 2012 9:58am Oct 2, 2012 9:58am
Guys,
there is a Gartley in EURUSD H1!
So....SHORT!
If you do not know who you are, the Forex is the worst place to find you
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