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Aussie Trading Room and Cartoons Gallery

  • #30,721
  • May 23, 2013 2:53pm May 23, 2013 2:53pm
Quoting Rivid
can you tell me guys how to be patient? i often put long or short.. and immediately closing it with small profit.. this hardest lesson to learn for me.. (sry for my eng).
Get a Forex Map!
daddybearforex. com
  • #30,722
  • May 23, 2013 3:49pm May 23, 2013 3:49pm
Quoting Rivid
can you tell me guys how to be patient? i often put long or short.. and immediately closing it with small profit.. this hardest lesson to learn for me.. (sry for my eng).

With a Forex Map, you know what you are waiting for.
Knowing what you are waiting for makes you patient.....
When you are patient, you will make more pips.....

Don't trade without a Forex Map.......
daddybearforex. com
  • #30,723
  • May 23, 2013 3:59pm May 23, 2013 3:59pm
Quoting DaddyBear
{quote} With a Forex Map, you know what you are waiting for.Knowing what you are waiting for makes you patient.....When you are patient, you will make more pips..... Don't trade without a Forex Map.......
Thx for answer - i will try to find out what it is
  • #30,724
  • May 23, 2013 4:20pm May 23, 2013 4:20pm
I think that AU will have a correction during the next few days before resuming the fall. Any one here has the same view. I bought @ .9750 TP@ .9950 Sl @ .9590
  • #30,725
  • May 23, 2013 4:23pm May 23, 2013 4:23pm
Quoting TTTaha
I think that AU will have a correction during the next few days before resuming the fall. Any one here has the same view. I bought @ .9750 TP@ .9950 Sl @ .9590
The correction may occur from your entry downward then shoots up ............
daddybearforex. com
  • #30,726
  • May 23, 2013 4:38pm May 23, 2013 4:38pm
Thanks for the support guys! Fee better that I have not lost as much as you guys have! I still have some money left though. I'm going to be diciplined with that last amount see if I can better use it.
  • #30,727
  • May 23, 2013 4:54pm May 23, 2013 4:54pm
Quoting DaddyBear
{quote} You could place a limit order beforhand, why couldn't you?
Hi Daddy, indeed I could, but I still think we can get to 0,94 before a bottom is set, so I didn't want to put a limit order without being present to watch PA.

Better safe than sorry, my chance will come eventually. No stress.
  • #30,728
  • May 23, 2013 5:18pm May 23, 2013 5:18pm
This is why I think we can get lower...
Attached Image (click to enlarge)
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  • #30,729
  • May 23, 2013 6:05pm May 23, 2013 6:05pm
I was in here yesterday and read a few comments but did not comment myself. Many of the comments I read were about longs being underwater and large holes blown into accounts. To those that lost capital, hopefully you got something from it and gained some experience. This forex trading thing is too risky to allow yourself to be over-exposed. Your position size should never be used against you. If you are going to open a large position (relative to your available margin), then you need to be active in managing the trade. Metaphorically speaking, if the ship is capsizing by taking on water, you need to make it lighter. You need to throw cargo/weight overboard. In other words reduce your exposure. Even if it means taking loss. Don't worry about making it back. Just try to stay alive and the rest will take care of itself with more experience.
  • #30,730
  • May 23, 2013 6:39pm May 23, 2013 6:39pm
Quoting 2+2=4ex
I was in here yesterday and read a few comments but did not comment myself. Many of the comments I read were about longs being underwater and large holes blown into accounts. To those that lost capital, hopefully you got something from it and gained some experience. This forex trading thing is too risky to allow yourself to be over-exposed. Your position size should never be used against you. If you are going to open a large position (relative to your available margin), then you need to be active in managing the trade. Metaphorically speaking, if...
That is a fair call ,as an ex navy man that will only work if you can raise it enough to get the hole above water or block the hole :ie we find a bottom to this slide
  • #30,731
  • May 23, 2013 6:47pm May 23, 2013 6:47pm
Quoting 2+2=4ex
I was in here yesterday and read a few comments but did not comment myself. Many of the comments I read were about longs being underwater and large holes blown into accounts. To those that lost capital, hopefully you got something from it and gained some experience. This forex trading thing is too risky to allow yourself to be over-exposed. Your position size should never be used against you. If you are going to open a large position (relative to your available margin), then you need to be active in managing the trade. Metaphorically speaking, if...
My biggest problem is discipline and control of emotions. Its destroyed my account as a result in the last week.
  • #30,732
  • May 23, 2013 6:54pm May 23, 2013 6:54pm
Quoting Arman_A
{quote} My biggest problem is discipline and control of emotions. Its destroyed my account as a result in the last week.
Nobody loves Aussie I know what you mean. When I first started, I was impulsive and if I had a bad trade I'd rush in to try and make it up. The market makes fools of us all. Just recoup and be patient. Best of luck.

Anyways with Aussie. Currently at 78% Fib, which is acting like resistance. May was to retest. My swing low theory is void if it fails to break this resistance. Target 1 .9665 hit. Next .955
Attached Image (click to enlarge)
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When the facts change I change my mind, what do you do sir
  • #30,733
  • May 23, 2013 6:56pm May 23, 2013 6:56pm
Quoting 2+2=4ex
I was in here yesterday and read a few comments but did not comment myself. Many of the comments I read were about longs being underwater and large holes blown into accounts. To those that lost capital, hopefully you got something from it and gained some experience. This forex trading thing is too risky to allow yourself to be over-exposed. Your position size should never be used against you. If you are going to open a large position (relative to your available margin), then you need to be active in managing the trade. Metaphorically speaking, if...
Well said.
daddybearforex. com
  • #30,734
  • May 23, 2013 7:02pm May 23, 2013 7:02pm
Quoting 2+2=4ex
I was in here yesterday and read a few comments but did not comment myself. Many of the comments I read were about longs being underwater and large holes blown into accounts. To those that lost capital, hopefully you got something from it and gained some experience. This forex trading thing is too risky to allow yourself to be over-exposed. Your position size should never be used against you. If you are going to open a large position (relative to your available margin), then you need to be active in managing the trade. Metaphorically speaking, if...

When the facts change I change my mind, what do you do sir
  • #30,735
  • May 23, 2013 9:29pm May 23, 2013 9:29pm
Good Afternoon guys..
lazy Friday...

Yesterday range was 180pips..
  • #30,736
  • May 23, 2013 9:44pm May 23, 2013 9:44pm
Quoting TTTaha
I think that AU will have a correction during the next few days before resuming the fall. Any one here has the same view. I bought @ .9750 TP@ .9950 Sl @ .9590
Quoting DaddyBear
{quote}The correction may occur from your entry downward then shoots up ............
I am sorry, TTTaha. You bought at high. Hope you are alright.
daddybearforex. com
  • #30,737
  • May 23, 2013 9:47pm May 23, 2013 9:47pm
Good Evening DB..........Feels like a Friday after close............
The More You Learn, The More You Earn.....
  • #30,738
  • May 23, 2013 9:48pm May 23, 2013 9:48pm
Quoting Arman_A
{quote} I placed a heap of shorts at 97 I want to cry
You should be happy now. At this juncture, I'd avoid to be a short guy....
Attached Image (click to enlarge)
Click to Enlarge Name: Short Guy.JPG Size: 31 KB
daddybearforex. com
  • #30,739
  • May 23, 2013 9:51pm May 23, 2013 9:51pm
Quoting 2+2=4ex
I was in here yesterday and read a few comments but did not comment myself. Many of the comments I read were about longs being underwater and large holes blown into accounts. To those that lost capital, hopefully you got something from it and gained some experience. This forex trading thing is too risky to allow yourself to be over-exposed. Your position size should never be used against you. If you are going to open a large position (relative to your available margin), then you need to be active in managing the trade. Metaphorically speaking, if the ship is capsizing by taking on water, you need to make it lighter. You need to throw cargo/weight overboard. In other words reduce your exposure. Even if it means taking loss. Don't worry about making it back. Just try to stay alive and the rest will take care of itself with more experience.
Yep the lesson is to never overleverage. I had several eur/aud shorts last year that at one point had me in over 1k pips in drawdown. But I managed to average up then get out with a small profit. Why? Because the positions were small enough that I could sustain drawdown.

All my big losses were from over leveraging. In 2008 I blew my account when I longed crude and it fell like an avalanche. The smallest amount you could trade it was in $100,000 increments and the broker I was with at the time only provided 10:1 leverage. So safe to say it blew up spectacularly. Heck I even rode gold nearly from the top to 1650. It could of cost me the whole account. I was extremely bullish on gold and put on many positions. However I did learn to control risk so I escaped with a loss of ~30% of the account.

Then I proceeded to make several awesome trades, I rode nearly the whole eurjpy upmove. Longed usdcad from 0.96 all the way to 1.03. Had some other profitable strategies working, and not only recovery my gold losses but doubled my capitol.

The most important thing is to control your risk and SURVIVE! Don't think about how much you could win, but how much you could lose. Then its just a matter of methodically applying your strategies, repeat and make lots of money. =D
  • #30,740
  • May 23, 2013 9:54pm May 23, 2013 9:54pm
Quoting forexalien
Good Evening DB..........Feels like a Friday after close............

Are you still sleeping?
daddybearforex. com
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