{quote} USDJPY added short scout#7, adjusted TP Bearish MM's are heaving the price up. {image}
USDJPY short trade
Added sell #8, adjusted TP
Bearish MM's pumping price above round number (101.000) for selling high.
USDJPY short trade
Added sell #8, adjusted TP
Bearish MM's pumping price above round number (101.000) for selling high.
{quote} EURUSD long trade Added scout long #17, TP adjusted 1 min chart (not attached) shows higher volume at the price lows which indicates the MM's are still bulls, they are buying the lows. {image}
EURUSD long trade
added long #18,19 adjusted TP
- #52,744
- Jul 5, 2013 8:45am Jul 5, 2013 8:45am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
{quote} GJ Short Trade: Closed all 19 short trade components for 3230 pips gain. {image}
So, as your worthy philosophical adversary, good trade....
But, do not forget to list your open positions when you post your summary. Every good ledger has a credits column as well as a debits column. If you don't want to be like those stinking banks, you need to list under performers.
If you are good at something, never do it for free--Joker
- #52,746
- Jul 5, 2013 8:55am Jul 5, 2013 8:55am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
LESSON LEARNED: my account went just bankrupt with that 100 pips move by UG and GJ. So what i've learned: - Manage yout bankroll properly - Better demo another 4-6 months then enter the market live - Don't hope that your expectations will come true before you go bankrupt. - Trade Properly - Don't underestimate micro-lots - Dream big, act Small
Some folks here are going to post they are "sorry" for you about this, not realizing it is a good thing. Yes, I know some folks are just born to trade, rarely if ever blew an account, and might feel for you that you did. For me, I want you to know that many more folks struggle. They struggle with the mechanics of trading, with the concept of how the market moves, with everything. For them, for me because I was one of them, I can tell you that blowing an account is a hard, but good thing. At some point of blowing accounts, reality sets in, discipline moves to the foreground with determination. The pain that hurts is not the one that kills, and in this business the pain of blowing real money is the tuition. And at some point the student, paying the tuition, actually decides to shoot for "A's" instead of partying.
You will heal. You will be better for the experience. Let your discipline and determination join hands and come out of the box.
-tah
- #52,747
- Jul 5, 2013 9:06am Jul 5, 2013 9:06am
To be honest its better blow a few accounts now then to blow it later, When you put more money in your account next time you'll learn from your mistakes!
It's just a learning process.... Keep your head up!!!!
It's just a learning process.... Keep your head up!!!!
Creditors have better memories than debtors.
- #52,748
- Jul 5, 2013 9:08am Jul 5, 2013 9:08am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} There is a $1Bn option at 101.00 due to expire at the NY cut - 10am NY / 3pm GMT - so I'd expect price to say around that level until it goes off......but the 100 pip pop was nice
So waiting for the NYSE to open and then finding that nice Bear Climax bar just under the **75 level gave me an objective buy as soon as the dragon turned back up. A nice way to finish my week and I wish everyone a great weekend
PS As I finished posting the 1 min dragon turned down, so I made a small Scout Sell at 100.95 - small 'cause its against the higher TF dragons
Trading Levels with WRBs
- #52,750
- Jul 5, 2013 9:20am Jul 5, 2013 9:20am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
- #52,754
- Edited 9:43am Jul 5, 2013 9:33am | Edited 9:43am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #52,757
- Jul 5, 2013 9:53am Jul 5, 2013 9:53am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
- #52,758
- Edited 10:40am Jul 5, 2013 10:12am | Edited 10:40am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} this post irritates me a bit, tah. He blew up because he was averaging down. Deny that, and I will shut up for the rest of the day.
Nobody is asking you to shut up. I enjoy your postings. I will deny it out of hand, though, not even knowing any specifics. Do you know why? I can deny it because that is never a reason an account is blown. No action is! It is the extent of some action that is responsible, not the action itself.
Averaging down is not terrible if you are trading with the MMs rather than against them. This is already proven. Yes, I know that is impossible for those with inflexible minds to accept, just like when enlightened brains refuted the age old truth that the world was flat, and everybody and their cousins called them heretics!
You see, it is not what you do, but the way and the extent to which you do it that matters. Average down against the MMs, you are doomed. Average down with the MMs, but to such an extent that you use up your bag of seeds, you are doomed. But average down with the MMs and well within your means, you get to enjoy Harvest Time! It is that simple.
And this simplicity is why PVSRA is so effective. Like ArtfulDodger says, we ought not try to fit the MMs and what they do into nice, neat, organized boxes. It cannot be done. That is true folly! PVSRA does not do that. PVSRA does only one thing, and it is the most important thing of all. Properly done, PVSRA indicates if the MMs are bulls or bears regardless of which direction price is moving and regardless of how far in any direction price has moved. That is the only market analysis any trader needs to trade effectively and be successful. Are the MMs bulls or bears? Oh, yes, and they need money to trade with, and to protect that money they need to trade very light relative to account size because the actions of the MMs are beyond knowing and beyond compartmentalizing.
-tah
- #52,759
- Jul 5, 2013 10:15am Jul 5, 2013 10:15am
- Joined Feb 2011 | Status: Trader | 1,825 Posts
lets do more 'nuts , see what happen after us close , build position
- #52,760
- Jul 5, 2013 10:26am Jul 5, 2013 10:26am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low