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All Indicators Trading system

  • #1,361
  • Aug 8, 2013 10:06am Aug 8, 2013 10:06am
Quoting macsoj
{quote} Turn your resistance to support, I hate seeing friends loosing money.
I am trying to turn it into support but , its not allowing me .It needs to make a clean break from £4000 .I hope this EU trade will do that.Lets wait and see.I will however only exit this trade according tom my rules
  • #1,362
  • Aug 8, 2013 10:09am Aug 8, 2013 10:09am
i have balls of steel :d
On my way to financial independence - if others can do it - I can do it
  • #1,363
  • Aug 8, 2013 10:15am Aug 8, 2013 10:15am
Quoting Eur Usd
i have balls of steel :d

What have you done?
  • #1,364
  • Aug 8, 2013 10:18am Aug 8, 2013 10:18am
Quoting tafadzwa02
{quote} What have you done?
SOMETHING AS STUPID AS DRIVING ON BICYCLE ON MOTORWAY WRONG WAY ;-)
was about 10% on minus all together, but ended up at 1% plus ;-) - not proud as I broke aty least 2 of my rules but I noticed that controlled breaking of rules gives nice profits
On my way to financial independence - if others can do it - I can do it
  • #1,365
  • Aug 8, 2013 10:34am Aug 8, 2013 10:34am
Quoting Eur Usd
{quote} ......... but I noticed that controlled breaking of rules gives nice profits
.I know exactly what you mean
  • #1,366
  • Aug 8, 2013 10:41am Aug 8, 2013 10:41am
Quoting tafadzwa02
{quote} .I know exactly what you mean
did I alreeady mention I'll be rich in no time?


am taking mortgage this year, so I will want to wipe it off as soon as possible ;-)
On my way to financial independence - if others can do it - I can do it
  • #1,367
  • Aug 8, 2013 11:37am Aug 8, 2013 11:37am
I knew that from 128.30 price will go up - but was afraid to get into trade - now it is 50pips higher - it would mean about 15% (at 6% risk) more for me as recently I overleverage ;-)
On my way to financial independence - if others can do it - I can do it
  • #1,368
  • Aug 8, 2013 5:33pm Aug 8, 2013 5:33pm
Breaking trading rules that resulted in a profit is a bad trading habit to practice. It just reinforces your undisciplined trading habits. Before you knew it, one of these days you'll just end up with a big loss and you'll tell yourself again to "I shouda, coulda, wouda have stick to my plan" and then the cycle continues that you'll stick to your rules no matter what. Then the cycle NEVER ends.


It's your money, not my business, just my 2 cents.
Fear prevent possibilities, and so does Greed
  • #1,369
  • Aug 8, 2013 6:54pm Aug 8, 2013 6:54pm
Let me mess up Master Yoda's discipline to stick to this EURUSD trade.

1. Price is approaching previous daily high at 1.3415
2. It looks like the price was rejected at 1.34 evidenced by the down 4H candle
3. The price is right at the down trend line from May 2011 High (Weekly chart)
4. Stochastic is at overbought.

I do not know where the price is going, it go break to the upside, or reverse from here, or correct from here. Either way, the price will go where it want to go.
Fear prevent possibilities, and so does Greed
  • #1,370
  • Aug 8, 2013 11:05pm Aug 8, 2013 11:05pm
Quoting xtrader101
... Either way, the price will go where it want to go.
you are wrong. the price will go where tafa wants it to go
btw I think tafa should open 3 positions, not one. then he woulda have 3x more profit

as about eur/usd - 1h shows me price constrainment on 10ema (but no confluence with anything else, not on any other time frame so it's bit risky) so it might touch r1 of daily pivot - but I think I'll stay away from it today, made some nice profit yesterday, so I'll stay away, and will see how it goes Monday
On my way to financial independence - if others can do it - I can do it
  • #1,371
  • Aug 9, 2013 7:44am Aug 9, 2013 7:44am
Every time I stay in a trade with the thinking that it will go , it doesn't , when I leave a trade think its not going to go ,it does .
  • #1,372
  • Aug 9, 2013 8:41am Aug 9, 2013 8:41am
Your impatience is killing you.
Fear prevent possibilities, and so does Greed
  • #1,373
  • Aug 9, 2013 8:58am Aug 9, 2013 8:58am
Quoting xtrader101
Your impatience is killing you.
No its now more about the money more than the pips .I will change my risk from next week to manageable levels , this 3.5% is killing me .when I was on £0.50 per pi it was fine , now its almost £5 and every pip makes my heart jump.I will sort it out from next week

Quoting Eur Usd
{quote} ..............but I think I'll stay away from it today, made some nice profit yesterday, so I'll stay away, and will see how it goes Monday
What are you doing in those EUR YEN trades then ? couldn't help yourself ha?
  • #1,374
  • Aug 9, 2013 9:45am Aug 9, 2013 9:45am
Quoting tafadzwa02
What are you doing in those EUR YEN trades then ? couldn't help yourself ha?
exactly
On my way to financial independence - if others can do it - I can do it
  • #1,375
  • Aug 9, 2013 10:13am Aug 9, 2013 10:13am
Quoting tafadzwa02
{quote} No its now more about the money more than the pips .I will change my risk from next week to manageable levels , this 3.5% is killing me .when I was on £0.50 per pi it was fine , now its almost £5 and every pip makes my heart jump.I will sort it out from next week {quote} What are you doing in those EUR YEN trades then ? couldn't help yourself ha?
It would mean that you're risking money way over your comfort zone, in which it resulted to emotions kicking in that translate to closing your winners to early. I do no see you trading full time until you know how to manage risk.
Fear prevent possibilities, and so does Greed
  • #1,376
  • Aug 9, 2013 10:34am Aug 9, 2013 10:34am
Quoting xtrader101
{quote} It would mean that you're risking money way over your comfort zone, in which it resulted to emotions kicking in that translate to closing your winners to early. I do no see you trading full time until you know how to manage risk.
I must admit that I have improved a lot since last year.So this journey is still on , besides , I only intend to go Live after I have done 3 solid continuous months implementing my strategy , trading within manageable levels , managing my discipline etc .It is still a long way.
I will do the maths over the weekend and come up with a risk level I am comfortable with .

Quoting Eur Usd
{quote} exactly
Looks like you didn't listen to the advice below
Quoting xtrader101
Breaking trading rules that resulted in a profit is a bad trading habit to practice. It just reinforces your undisciplined trading habits. Before you knew it, one of these days you'll just end up with a big loss and you'll tell yourself again to "I shouda, coulda, wouda have stick to my plan" and then the cycle continues that you'll stick to your rules no matter what. Then the cycle NEVER ends. It's your money, not my business, just my 2 cents.
  • #1,377
  • Aug 9, 2013 11:48pm Aug 9, 2013 11:48pm
Quoting tafadzwa02
Looks like you didn't listen to the advice below
look who's talking
it's much easier to laugh and criticise when you do silly mistakes
you're an expert in crying - which em-t shall I put here in my situation? -> <-this one? or maybe this one? ->
or how about this one? ->


btw what are your views on EUR/JPY? price kept bouncing off 128.30 for last 3 days - will it hold the support on Monday? will it get back to 129? or is it a slide down?
On my way to financial independence - if others can do it - I can do it
  • #1,378
  • Aug 10, 2013 1:56am Aug 10, 2013 1:56am
Quoting Eur Usd
{quote}......................... what are your views on EUR/JPY? price kept bouncing off 128.30 for last 3 days - will it hold the support on Monday? will it get back to 129? or is it a slide down?
There is nothing suggesting that it will go up on the long term.There was a strong resistance on 128.56 and that seems to be holding .I would think its a slide down up to 127.76 , after which anything can happen there .
Good Luck with those trades .Just another word of advice , this market is not going anywhere so NEVER allow any single pair or trade wipe out your account.There always another chance .
  • #1,379
  • Aug 10, 2013 2:12am Aug 10, 2013 2:12am
Quoting tafadzwa02
{quote} There is nothing suggesting that it will go up on the long term.There was a strong resistance on 128.56 and that seems to be holding .I would think its a slide down up to 127.76 , after which anything can happen there . Good Luck with those trades .Just another word of advice , this market is not going anywhere so NEVER allow any single pair or trade wipe out your account.There always another chance .
well the idea is to wait till Sunday night and to see how it goes on start. I have a feeling that maybe it won't break the 128.30 till Monday morning, one way or another I'll keep looking and will take the loose if I see it broke thru 128.30.
that's how breaking rules finishes ;-) and I was on plus with this trade, but wanted more, so it went down. Failed again - dissapointed myself - dissapointed my family (they forgave me anyway LOL
On my way to financial independence - if others can do it - I can do it
  • #1,380
  • Aug 10, 2013 12:58pm Aug 10, 2013 12:58pm
After a thorough analysis , I have settled for 2.4% risk per trade.But to be precise , its easier to say the amount of money that I am prepared to lose.This week my maximum risk per trade is +/- £99.XTRADER101, I am not sure where this leaves our bet but this is what I am comfortable with .The risk can fluctuate depending on the balance but the amount of risk this week will remain +/- £99 per trade.
Please find attached my Weekly spreadsheet.Looks like the £4000 resistance will be easily broken next week.I have had 2 weeks in a row with a closing balance of more than £4000 , so its good omen I hope.Will see how it goes
Attached File(s)
File Type: xls Actual Vs Projection-Week Commencing 11-08-2013.xls   406 KB | 166 downloads
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