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  • #18,521
  • May 2, 2013 12:47am May 2, 2013 12:47am
Quoting Jackub
{quote} I am very much afraid the book writen this way will be redy within few days only .....
well, then your next book should be:

"Forex trading: 1000th SINs for DUMMIES" ... in book cover yellow and black background colours...please
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,522
  • May 2, 2013 12:50am May 2, 2013 12:50am
Quoting emmanuel7788
{quote} well, then your next book should be: "Forex trading: 1000th SINs for DUMMIES" ... in book cover yellow and black background colours...please
A brliliant idea, finally there is something I can make money on!!! ...
JacekPreserve Precious Capital
  • #18,523
  • May 2, 2013 1:20am May 2, 2013 1:20am
Emmanual its ok I am using Arjun 10 EMA At the moment i am reading Beat the Forex Dealer . Written by Augustin Silvani , It might open your eyes , Jackub . U might consider read that book , It is very popular , E C N started from him , I have read many Forex books and all helps nothing , Emmanual made lot of sense , I am just about start to bit improve , I must have great patience ,
  • #18,524
  • May 2, 2013 1:36am May 2, 2013 1:36am
Quoting terminator12
Emmanual its ok I am using Arjun 10 EMA At the moment i am reading Beat the Forex Dealer . Written by Augustin Silvani , It might open your eyes , Jackub . U might consider read that book , It is very popular , E C N started from him , I have read many Forex books and all helps nothing , Emmanual made lot of sense , I am just about start to bit improve , I must have great patience ,
Hi Malcolm,
I just started read Super Trader by Van Tharp, very inetresting points touching myself. Pitty I can not get through M.Douglas due to difficult language.
Have also on the way J.Martinez nad A. Edler ... all nights will be bussy...
JacekPreserve Precious Capital
  • #18,525
  • May 2, 2013 1:42am May 2, 2013 1:42am
Quoting Jackub
{quote} I am very much afraid the book writen this way will be redy within few days only .....
Hi Jack,


I will already start looking at my local bookstore for it. LOL!!!!


In all seriousness, your misadventures in forex trading are my misadventures as well.


My loosing trades are always alot more than my winning trades.
Trying to work out what my problems are.


Maybe i should become an author as well and start my own book too!!!


Green pips to you my friend.


Steve
  • #18,526
  • May 2, 2013 1:48am May 2, 2013 1:48am
Quoting itrade44
{quote} Hi Jack, I will already start looking at my local bookstore for it. LOL!!!! In all seriousness, your misadventures in forex trading are my misadventures as well. My loosing trades are always alot more than my winning trades. Trying to work out what my problems are. Maybe i should become an author as well and start my own book too!!! Green pips to you my friend. Steve
Jackub and ITRADE44 I am telling u , That read any Forex books will not help , I read How to beat Forex Dealer now because that book tell u about Dealers , To make success of trading is follow Emmanual and u will not be regret , Dont waste money buy books like me , I have 8 useless books here , Malcolm .
  • #18,527
  • Edited 2:23am May 2, 2013 1:53am | Edited 2:23am
Quoting itrade44
{quote} Hi Jack, I will already start looking at my local bookstore for it. LOL!!!! In all seriousness, your misadventures in forex trading are my misadventures as well. My loosing trades are always alot more than my winning trades. Trying to work out what my problems are. Maybe i should become an author as well and start my own book too!!! Green pips to you my friend. Steve
Hi Steve,
I was thinking last days what to do with myself to be more disciplined, to learn from mistakes I am doing, and fund out , all the mistake has to be named. Making mistakes , same mistakes over and over again builds frustration and this is making cure rather impossible. So conclusion was following, stop get mad, start analyze. To analyze anything, first you have to named it. So since today have a folder with WORD format files, each file , one day. Today only one mistake has been made (so far). Opened trade in the morning before my affirmation and news checking. I have cancel trade and whole day will read books and backtests the TMS method..
Getting frustrated all the time without taking actions drive us nowhere....
Best Regards
Jacek
JacekPreserve Precious Capital
  • #18,528
  • May 2, 2013 1:54am May 2, 2013 1:54am
Quoting terminator12
{quote} Jackub and ITRADE44 I am telling u , That read any Forex books will not help , I read How to beat Forex Dealer now because that book tell u about Dealers , To make success of trading is follow Emmanual and u will not be regret , Dont waste money buy books like me , I have 8 useless books here , Malcolm .
Hi Malcolm,
thanks for advice. I too have a library of books that i have read many times and the best teaching i had is from this Forum, especially
a big thanks to emmanuel7788.


cheers.


Steve.
  • #18,529
  • Edited 2:11am May 2, 2013 1:56am | Edited 2:11am
Hey guys any advice appreciated

Price ranged throughout the day. Yesterday's high broke the previous day's high before stopping at a fibonacci cluster.
Price has now retraced to the 61.8 level
Daily low has been tested. Pullback candle along with a doji forming. Dont know if its symmetrical enough to be called a double bottom.
Possible entry if price brakes through 61.8 barrier. with target at 127.18 (100% retracement. although this is avery vague target.)
More likely that price reversal can happen.(61.8 rebounce, pullback candle, doji with final confirmation by tdi) TP target at yesterday's high

A short trade would be very dangerous. several red candles already

edit* not even a doji. mis read. just a weak strength candle.
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  • #18,530
  • May 2, 2013 2:07am May 2, 2013 2:07am
Good Morning, I'm short EURGPB H1 Right now. Reasons: Break of TOK5, Break of 2IB on H4, Break of supportzone (see chart)
Attached Image (click to enlarge)
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  • #18,531
  • May 2, 2013 2:12am May 2, 2013 2:12am
Quoting tenmilewalk
Hey guys any advice appreciated Price ranged throughout the day. Yesterday's high broke the previous day's high before stopping at a fibonacci cluster. Price has now retraced to the 61.8 level Daily low has been tested. Pullback candle along with a doji forming. Dont know if its symmetrical enough to be called a double bottom. Possible entry if price brakes through 61.8 barrier. with target at 127.18 (100% retracement. although this is avery vague target.) More likely that price reversal can happen.(61.8 rebounce, pullback candle, doji with...
Well,
dont you think last few days price is an range, now is in a middle of the range, everybody is waiting for news....
JacekPreserve Precious Capital
  • #18,532
  • May 2, 2013 2:16am May 2, 2013 2:16am
Quoting itrade44
{quote} Hi Malcolm, thanks for advice. I too have a library of books that i have read many times and the best teaching i had is from this Forum, especially a big thanks to emmanuel7788. cheers. Steve.

Guys,
thanks for all the nice bouquets...
all that I share here are from reading many books and putting into practice the many things I read and learned. Believe me, name any investment /trading book publish in the last 25 years, I bet you I have that in my bookshelf already collected over 25 years. You want a pdf or ebook version, I also have some of them. If you want some in audio book version I also have some when I listen to during those long drives which I enjoy very much these days.

All that I share here none of them are my original or my own.
I mentioned many times ...Practice, practice, practice and when you do, you learn.
You just need to think smart and make things work for you. No two traders will have the same results trading the same method/system.

Jackub mentioned about Dr Van Tharp book Super Trader, yes that is a very good book and I am one of Van Tharp student. He taught me to identify those many sins which Jackub mentioned already. All those sins are self sabotage which we do to ourselves all the time repeatedly over and over again. We all have beliefs when we trade the market. Everyone must make that conscious effort of those beliefs and when those beliefs are not longer true we must do the turnaround. When you can do the turn around in your minds, you will succeed for sure.

Trade Well folks, it only seems hard.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,533
  • May 2, 2013 2:20am May 2, 2013 2:20am
Quoting Pipsmurfer
Good Morning, I'm short EURGPB H1 Right now. Reasons: Break of TOK5, Break of 2IB on H4, Break of supportzone (see chart) {image}

Good H1 trade.

This reminds me that I should look to get out of my H4 buy swing. This is a possible trade invalidation of my H4 buy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,534
  • May 2, 2013 2:30am May 2, 2013 2:30am
Quoting tenmilewalk
Hey guys any advice appreciated Price ranged throughout the day. Yesterday's high broke the previous day's high before stopping at a fibonacci cluster. Price has now retraced to the 61.8 level Daily low has been tested. Pullback candle along with a doji forming. Dont know if its symmetrical enough to be called a double bottom. Possible entry if price brakes through 61.8 barrier. with target at 127.18 (100% retracement. although this is avery vague target.) More likely that price reversal can happen.(61.8 rebounce, pullback candle, doji with...
http://www.forexfactory.com/attachme...1&d=1367477538

yesterday's reversal during NY session was a failure at Fib-r 127% of prev D low-high. I recall it was 128.90 and that was a CONFLUENCE of Prev W Fib-r 50% and RN and also something else. You see how many H1 candle touching that price level then boom it went back down. This is how EJ and JPy pairs trade in recent days, swing u and down, so you just play along using PA and S&R.

I don't have my regular computer with me now, so no charts for a few hours will I get back to my other PC.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,535
  • May 2, 2013 2:31am May 2, 2013 2:31am
Quoting Jackub
Hi everybody…… I am going to be a writer…. I started to write a book, but have hope book will not be very fat when completed. A title will be "My forex sins…". My every single stupidity made on forex, every single incompetence, end every single act of lack of discipline will be described there, with all details …. NO charts there, only behavior, only feelings, only reactions… Will keep writing until .. become a TRADER.
Will be looking forward to reading your book Jackub
  • #18,536
  • May 2, 2013 2:39am May 2, 2013 2:39am
Same....
Attached Image (click to enlarge)
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  • #18,537
  • May 2, 2013 3:03am May 2, 2013 3:03am
Quoting itrade44
{quote}My loosing trades are always alot more than my winning trades.
I think this is a very common problem, especially for less experienced traders and I suffered with it for a long time too.
It seems the problem is often much the same - that we do not let winners run on and do not take out losers quickly enough - it's mostly in our heads,,

For me the cure was to makes sure my stop loss was sensible, to shorten take profit by some amount and then to leave the trade alone and not even look at it, at least between each H1 candle (or whichever time frame was relevant).

For me it was very important because until I sorted this out I did not really know whether my system was working at all - even a quite poor system will most often take the price into profit, even if only for a couple of pips. For some time I would take profit at very small levels and think everything was fine until a trade went the wrong way and wiped a whole week's profit.

The good thing with TMS is that it WILL give sensible profits and manageable losses if you do it the way Big E wrote it.
Keep it simple and watch the PA, SR levels and TDI as if your life (or wallet) depends on it.

Also not keep looking at the charts relieves stress wonderfully. I sometimes forget I've even put a trade on, although that could be because I'm getting old and stupid.

Have fun.
Don't ask me, I have no idea what's going on.
  • #18,538
  • May 2, 2013 3:26am May 2, 2013 3:26am
Quoting emmanuel7788
{quote} {image} yesterday's reversal during NY session was a failure at Fib-r 127% of prev D low-high. I recall it was 128.90 and that was a CONFLUENCE of Prev W Fib-r 50% and RN and also something else. You see how many H1 candle touching that price level then boom it went back down. This is how EJ and JPy pairs trade in recent days, swing u and down, so you just play along using PA and S&R. I don't have my regular computer with me now, so no charts...

sweeeet. jackub mentioned as well today will be news day. will stay out
  • #18,539
  • May 2, 2013 3:31am May 2, 2013 3:31am
  •  Hcp
  • | Joined Feb 2008 | Status: Everything Has the Meaning You Give | 74 Posts
Quoting Jackub
{quote} A brliliant idea, finally there is something I can make money on!!! ...
Sure enough I will see my face reflected on it, at least in 999 of them.
Looking foward to read it,
  • #18,540
  • May 2, 2013 4:00am May 2, 2013 4:00am
How to increase your winning rate?

Quoting itrade44
{quote} .... My loosing trades are always alot more than my winning trades. Trying to work out what my problems are. ...
I was there before when my win rate was below 45% for a long period when I started trading. One of my mentor looked at all my trades, all my entries and all my exits...

Then the thing he told me to do was simply use multi-lots entry and manage exits differently.

This basic idea is also available in babypips school.
http://forums.babypips.com/analyst-a...rading-fx.html

I usually trade with a 2-lots or 3-lots entry and different exits each lot at different time/price.

Study this and conceptualise how this work on paper and then apply it in live/demo trading.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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