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Pound Trader Weekly Message

  • #21
  • Nov 27, 2012 2:27pm Nov 27, 2012 2:27pm
Quoting PoundTrader
There's only one holy grail, the one you create.
Hey, i like that one
Be hopeful in a winning position, and fearful in a losing position.
  • #22
  • Nov 27, 2012 2:27pm Nov 27, 2012 2:27pm
Quoting PoundTrader
If you can't take a small loss, sooner or later you will take the mother of all losses
This one too

I live for -5 trades

Being a sniper of the market has helped me more than ever... as it should... because successful scalping requires very good timing.
Be hopeful in a winning position, and fearful in a losing position.
  • #23
  • Nov 27, 2012 3:58pm Nov 27, 2012 3:58pm
  • #24
  • Nov 27, 2012 11:02pm Nov 27, 2012 11:02pm
An achievers mind is open and will continually seek out new ways to keep them self on the leading edge of their profession. They understand that the pathway to stay competitive in to keep their skills honed to a cutting edge.
  • #25
  • Nov 27, 2012 11:04pm Nov 27, 2012 11:04pm
Examine your motive- think about why you wanna trade
  • #26
  • Nov 28, 2012 12:53am Nov 28, 2012 12:53am
Match Your Trading Method To Your Personality
  • #27
  • Nov 28, 2012 7:33am Nov 28, 2012 7:33am
It is absolutely necessary to have an edge- if you dont have an edge, all the money management and discipline will do for you is guarantee that you will gradually bleed to death
  • #28
  • Dec 6, 2012 6:29pm Dec 6, 2012 6:29pm
Yep
Attached Image
Fuck Forex Factory.Wake up people.
  • #29
  • Dec 7, 2012 11:50am Dec 7, 2012 11:50am
  • #30
  • Dec 7, 2012 11:52am Dec 7, 2012 11:52am
So the markets are drawn to round numbers. do the markets usually reach the round number, or do they often stop just short of it?
  • #31
  • Dec 7, 2012 12:04pm Dec 7, 2012 12:04pm
Only in appearance do the markets seem to be attracted to round numbers or fibonacci or whatever metric is popular.
What the markets are in fact attracted to it to cause the most (financial) damage to the most positions.
This is the path that is takes and sometimes it even looks like a trend.
The price always moves on loss taking not profit taking.
When you consider a trade ask yourself, would average-joe-trader take this trade? if the answer is yes, don't do it, or do the opposite.
  • #32
  • Dec 7, 2012 12:09pm Dec 7, 2012 12:09pm
Quoting Mingary
Only in appearance do the markets seem to be attracted to round numbers or fibonacci or whatever metric is popular.
What the markets are in fact attracted to it to cause the most (financial) damage to the most positions.
This is the path that is takes and sometimes it even looks like a trend.
The price always moves on loss taking not profit taking.
When you consider a trade ask yourself, would average-joe-trader take this trade? if the answer is yes, don't do it, or do the opposite.
thanks, this is a open question for anybody to answer
  • #33
  • Dec 7, 2012 12:09pm Dec 7, 2012 12:09pm
So the markets are drawn to round numbers. do the markets usually reach the round number, or do they often stop just short of it?
  • #34
  • Dec 7, 2012 12:15pm Dec 7, 2012 12:15pm
The diffrence between a bull and a bull market.

A Bull is someone who believes that prices will rise.

A Bull market-A market characterized by rising prices
  • #35
  • Dec 7, 2012 1:00pm Dec 7, 2012 1:00pm
trying to win in forex without a trading plan is like trying to build a house without blueprints
  • #36
  • Dec 7, 2012 1:10pm Dec 7, 2012 1:10pm
Quoting Mingary
Only in appearance do the markets seem to be attracted to round numbers or fibonacci or whatever metric is popular.

I think Pivots and Patterns are the handsome brothers of FIB's

?
Attached Image (click to enlarge)
Click to Enlarge Name: pivot one.gif Size: 29 KB
When the Joker is in the deck.. fear not and play it well
  • #37
  • Dec 7, 2012 1:14pm Dec 7, 2012 1:14pm
btw.... the yellow fib started from the up move around 11/21
Attached Image (click to enlarge)
Click to Enlarge Name: pivot two.gif Size: 28 KB
When the Joker is in the deck.. fear not and play it well
  • #38
  • Dec 7, 2012 1:23pm Dec 7, 2012 1:23pm
Quoting Mingary
Only in appearance do the markets seem to be attracted to round numbers or fibonacci or whatever metric is popular.
What the markets are in fact attracted to it to cause the most (financial) damage to the most positions.
This is the path that is takes and sometimes it even looks like a trend.
The price always moves on loss taking not profit taking.
When you consider a trade ask yourself, would average-joe-trader take this trade? if the answer is yes, don't do it, or do the opposite.
And..... I find the numbers just above/below to be more interesting. the xx20 or xx80 for example
And..... "What the markets are in fact attracted to it to cause the most (financial) damage to the most positions." you are trying to defeat yourself.

And..... "When you consider a trade ask yourself," WHAT SHOULD I DO ACCORDING TO THE METHOD I'VE CHOSEN (IMHO)
When the Joker is in the deck.. fear not and play it well
  • #39
  • Dec 7, 2012 1:29pm Dec 7, 2012 1:29pm
Quoting PoundTrader


A Bull is someone who believes that prices will rise.
Could be the difference between a bull and bull crap (or bear crap).

Anyway I was just distracted for a minute. I'm done now anymore

Have a good one
When the Joker is in the deck.. fear not and play it well
  • #40
  • Dec 7, 2012 1:40pm Dec 7, 2012 1:40pm
Understand that you are responsible- whether you win or lose, you are responsible for your own results, i have never met a successful trader who blame others for there losses
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