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All Indicators Trading system

  • #1,381
  • Aug 10, 2013 2:00pm Aug 10, 2013 2:00pm
Quoting tafadzwa02
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...
Why worry about our bet, if you execute your plan (which i'm betting you wont, the word i chose is "WON'T" because I know you can, but for some reason you keep sabotaging yourself), you'll win.
Fear prevent possibilities, and so does Greed
  • #1,382
  • Aug 10, 2013 3:03pm Aug 10, 2013 3:03pm
do you play world of tanks guys?
On my way to financial independence - if others can do it - I can do it
  • #1,383
  • Edited 7:31pm Aug 11, 2013 6:52pm | Edited 7:31pm
Just like that EJ is still going down and 30 minutes later, it bounced.
Fear prevent possibilities, and so does Greed
  • #1,384
  • Aug 11, 2013 11:00pm Aug 11, 2013 11:00pm
Quoting Eur Usd
{quote} 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?
If i'm trading EJ, this would be the time to go long. However, I am only trading GBPAUD (first trades for the week is a loss).
Fear prevent possibilities, and so does Greed
  • #1,385
  • Aug 12, 2013 3:10am Aug 12, 2013 3:10am
EUR-USD and GBP-USD are very tough pairs to predict
  • #1,386
  • Aug 12, 2013 3:26am Aug 12, 2013 3:26am
Quoting tafadzwa02
EUR-USD and GBP-USD are very tough pairs to predict
That's why do no predict when entering or exiting a trade. If your system is indicator based, enter when it generates an entry signal and exit when it indicates an exit signal, not based on what you expect or predict what the price would be.
Fear prevent possibilities, and so does Greed
  • #1,387
  • Aug 12, 2013 3:59am Aug 12, 2013 3:59am
Quoting xtrader101
{quote} That's why do no predict when entering or exiting a trade. If your system is indicator based, enter when it generates an entry signal and exit when it indicates an exit signal, not based on what you expect or predict what the price would be.

I was just saying predict , as in Signal wise , not gambling.I am more comfortable with this risk to be honest besides , I have also restricted myself to 3 trades a day maximum .I can live with this
  • #1,388
  • Aug 12, 2013 4:01am Aug 12, 2013 4:01am
and I feel shite - I made a huge mistake - even my wife was disappointed today and she usually supports me - feel bad. If I stayed in trade longer I'd win, but I took huge loss in stead
On my way to financial independence - if others can do it - I can do it
  • #1,389
  • Aug 12, 2013 4:17am Aug 12, 2013 4:17am
Quoting Eur Usd
and I feel shite - I made a huge mistake - even my wife was disappointed today and she usually supports me - feel bad. If I stayed in trade longer I'd win, but I took huge loss in stead
This is what I think what happened. You went long on EJ last week. You system indicated to close it at a loss lat week and then you hold onto it. Today, it went down and fear kicks in, then you capitulate due to so much pain already looking at the loss. After the shakedown, EJ bounced.

It would have been a smaller loss last week when it was was time to close at a smaller loss.
Fear prevent possibilities, and so does Greed
  • #1,390
  • Aug 12, 2013 4:28am Aug 12, 2013 4:28am
Quoting xtrader101
{quote} This is what I think what happened. You went long on EJ last week. You system indicated to close it at a loss lat week and then you hold onto it. Today, it went down and fear kicks in, then you capitulate due to so much pain already looking at the loss. After the shakedown, EJ bounced. It would have been a smaller loss last week when it was was time to close at a smaller loss.

.The impact of one 'error' cannot b underestimated .It has an impact on the following trades and without realizing it , one loss can b responsible for 5 more after that , or even account wipe out.Every trade matters
  • #1,391
  • Aug 12, 2013 5:03am Aug 12, 2013 5:03am
I have failed my family - can't stand this shite anymore
On my way to financial independence - if others can do it - I can do it
  • #1,392
  • Aug 12, 2013 5:19am Aug 12, 2013 5:19am
talking about shite (or shet):
http://www.keepbusy.net/play.php?id=...s-webcam-video
On my way to financial independence - if others can do it - I can do it
  • #1,393
  • Aug 12, 2013 5:24am Aug 12, 2013 5:24am
Quoting eur usd
i have failed my family - can't stand this shite anymore


keep calm

and

carry on

  • #1,394
  • Aug 12, 2013 5:26am Aug 12, 2013 5:26am
no. I need to take a rest, few days probably. I am a mental wreck of a man - I could spend these money in a much better way
On my way to financial independence - if others can do it - I can do it
  • #1,395
  • Aug 12, 2013 5:26am Aug 12, 2013 5:26am
Quoting Eur Usd
I have failed my family - can't stand this shite anymore
My question to you, do you want to keep betraying yourself by breaking the rules YOU made? If yes, then trading is not for you my friend.
Fear prevent possibilities, and so does Greed
  • #1,396
  • Aug 12, 2013 5:28am Aug 12, 2013 5:28am
Quoting xtrader101
{quote} My question to you, do you want to keep betraying yourself by breaking the rules YOU made? If yes, then trading is not for you my friend.
The guy is clearly not ready , I think he needs a rest , this game is not for everyone you know .I have come a long way so I really understand where he is coming from .
  • #1,397
  • Aug 12, 2013 5:34am Aug 12, 2013 5:34am
Quoting tafadzwa02
{quote} The guy is clearly not ready , I think he needs a rest , this game is not for everyone you know .I have come a long way so I really understand where he is coming from .

on Friday I was happy, I had nice profit and I wasn't going to trade. but I did, and I did it from work. Position was too big, s/l too big and then removed, then I left the trade for weekend........... just pissed of. need to rest
On my way to financial independence - if others can do it - I can do it
  • #1,398
  • Aug 12, 2013 5:37am Aug 12, 2013 5:37am
check this guy out - balls of steel
http://www.forexfactory.com/amirnadiv
On my way to financial independence - if others can do it - I can do it
  • #1,399
  • Aug 12, 2013 5:53am Aug 12, 2013 5:53am
Quoting Eur Usd
{quote} on Friday I was happy, I had nice profit and I wasn't going to trade. but I did, and I did it from work. Position was too big, s/l too big and then removed, then I left the trade for weekend........... just pissed of. need to rest

When do traders ever learn that RISKING TOO MUCH affects everything. When there is too much at stake, the driving force is the FEAR and GREED in handling your trades, not your system anymore.

I thought you had a good grip in your risk % because you mentioned last week and the week before and before... that you're only risking 1 or 2% then suddenly KABOOM.
Fear prevent possibilities, and so does Greed
  • #1,400
  • Aug 12, 2013 8:17am Aug 12, 2013 8:17am
Quoting tafadzwa02
-----------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 {file}
£4000 is proving hard to break
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