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  • #3,041
  • Mar 18, 2014 5:15am Mar 18, 2014 5:15am
Painful to trade the market right now, I guess even for professionals. No pips to see today, got out with a small loss of E/U long. Then it bounced lol
Fix up, trade sharp ...
  • #3,042
  • Mar 18, 2014 5:26am Mar 18, 2014 5:26am
Quoting Hickson
Painful to trade the market right now, I guess even for professionals. No pips to see today, got out with a small loss of E/U long. Then it bounced lol
I think it's important to adapt to the market invironment, maybe adjust the trading plan a bit, espicially targets / RR... have less patience when the trade isn't acting as you expected, wait for better setups etc etc..

I also think it's crucial not to overthink the PA atm, it quickly becomes a downwards spiral, just have confidence in the tradingplan and wait for A+ setups ..

to summarize it IMHO; adapt and evolve..
Patience is a virtue...
  • #3,043
  • Mar 18, 2014 5:55am Mar 18, 2014 5:55am
Quoting hadox
{quote} I think it's important to adapt to the market invironment, maybe adjust the trading plan a bit, espicially targets / RR... have less patience when the trade isn't acting as you expected, wait for better setups etc etc.. I also think it's crucial not to overthink the PA atm, it quickly becomes a downwards spiral, just have confidence in the tradingplan and wait for A+ setups .. to summarize it IMHO; adapt and evolve..
True, the hardest thing is to wait for the right setups and not to chase it. I had 80 Pips for example last week, then lost them again because of chasing it. In the meantime I just try to motivate myself by the fact that most people who start out lose their whole account in a few weeks, but I cannot buy anything from that of course. Sometimes the trades you do not take are really the best ones.
Fix up, trade sharp ...
  • #3,044
  • Mar 18, 2014 6:12am Mar 18, 2014 6:12am
Quoting Hickson
{quote} True, the hardest thing is to wait for the right setups and not to chase it. I had 80 Pips for example last week, then lost them again because of chasing it. In the meantime I just try to motivate myself by the fact that most people who start out lose their whole account in a few weeks, but I cannot buy anything from that of course. Sometimes the trades you do not take are really the best ones.
I think the biggest mistake most people make, is starting to trade without a well tested strategy.. they don't want to sacrifice days, weeks, months and yes years, they just want instant reward.. so I don't know if it's a good thing to blow out an account, I think there are better options to be honest.. some is against testing too much on demo, but I think it's a good idea instead of pissing away money..
Patience is a virtue...
  • #3,045
  • Mar 18, 2014 6:30am Mar 18, 2014 6:30am
Quoting hadox
{quote} I think the biggest mistake most people make, is starting to trade without a well tested strategy.. they don't want to sacrifice days, weeks, months and yes years, they just want instant reward.. so I don't know if it's a good thing to blow out an account, I think there are better options to be honest.. some is against testing too much on demo, but I think it's a good idea instead of pissing away money..
It is right that you have to invest a lot of time to succeed, just like everywhere. Finding a strategy that fits you is not an easy task, then refining it until you are in profits is even harder. But demo is something I cannot take seriously. Might work for other people, I am just not interested in that. I could never trade demo with the same dedication or concentration. It is like in sports. I never wanted to join some comfortable scrimmage with low skilled players just to feel good and say: "Oh haha, we are so good, look how bad they are." I showed more passion while scoring baskets on athletic 2 metre guys who could play and fight for a win. It just does not work for me - if there is no pressure, I will hardly give my best. Plus I am broke, since I put everything I had in my education all my life. So if I am not able to hold that little money together I can afford to set at risk, I see the experiment failed. But it is long from over yet.
Fix up, trade sharp ...
  • #3,046
  • Mar 18, 2014 6:40am Mar 18, 2014 6:40am
Quoting Hickson
{quote} It is right that you have to invest a lot of time to succeed, just like everywhere. Finding a strategy that fits you is not an easy task, then refining it until you are in profits is even harder. But demo is something I cannot take seriously. Might work for other people, I am just not interested in that. I could never trade demo with the same dedication or concentration. It is like in sports. I never wanted to join some comfortable scrimmage with low skilled players just to feel good and say: "Oh haha, we are so good, look how bad they are."...
ok I see, to be honest it sounds like you're under a bit of pressure, which could turn out to be a good thing, but in most cases it isn't I guess.. when you're under presure it's hard to have patience IMO, but I wish you all the best and don't worry, the markets are always there..
Patience is a virtue...
  • #3,047
  • Mar 18, 2014 8:02am Mar 18, 2014 8:02am
Quoting hadox
1.661x didn't held in cable (obviously) , fwiw I have 1.657x as the last support before 1.643x /0x...
testing once again..
Patience is a virtue...
  • #3,048
  • Mar 18, 2014 8:11am Mar 18, 2014 8:11am
Hoho, it's getting lively... stopped out on: EU long with -11 pips, GU long b/e, AU short b/e. Only thing troubling me atm: EU might still head straight for 1.40 and more, not a very convincing dive. Happy about EA short, although it's still early.

@Hadox: great Dax-catch, exactly at the H1-MA100. Didn't take it, as you know I want this to come down hard... Do you have a target?
Fail better.
  • #3,049
  • Mar 18, 2014 8:22am Mar 18, 2014 8:22am
Quoting LarryDarrell
Hoho, it's getting lively... stopped out on: EU long with -10 pips, GU long b/e, AU short b/e. Only thing troubling me atm: EU might still head straight for 1.40 and more, not a very convincing dive. Happy about EA short, although it's still early. @Hadox: great Dax-catch, exactly at the H1-MA100. Didn't take it, as you know I want this to come down hard... Do you have a target?
agree, somethings cooking atm.. don't know about eu, still at 1.390x, got slammed pretty hard at the top IMO, but as long as 0x keeps holding, bulls prolly still gonna give it a try.. anyway lets see..

there is big cable news tomorrow, so maybe some pre-positioning ahead of that.. would like to see a daily close above 1.658x , that might open up for some bull setups I guess..

regarding the dax, currently still running, watched the same levels yd - when we closed above there was an oppurtunity for a pullback too the same area, so far it held pretty good, but looking for a test of 929x as a start but don't know if we'll get there..
Patience is a virtue...
  • #3,050
  • Mar 18, 2014 9:23am Mar 18, 2014 9:23am
Quoting hadox
trying a dax long at 911x - risking 25ish..
it's been a while since I caught the dax like this - I'll better enjoy it, as long as it last..

taking 1/3 of at 929x..

if everything pans out I'm looking for 936x as 2. target and 955x as a final target..
Patience is a virtue...
  • #3,051
  • Mar 18, 2014 9:30am Mar 18, 2014 9:30am
Quoting hadox
{quote} it's been a while since I caught the dax like this - I'll better enjoy it, as long as it last.. taking 1/3 of at 929x.. if everything pans out I'm looking for 936x as 2. target and 955x as a final target..
. I'm looking at 9416 for a short (though I hope we don't get there...)
Fail better.
  • #3,052
  • Mar 18, 2014 9:34am Mar 18, 2014 9:34am
Quoting LarryDarrell
{quote} . I'm looking at 9416 for a short (though I hope we don't get there...)
thanks Larry..

I'll try some shorts at the targets if I'll get some rejections there, but until then, I'm just riding the bastards coattails.. lol..
Patience is a virtue...
  • #3,053
  • Mar 18, 2014 9:54am Mar 18, 2014 9:54am
Quoting hadox
{quote} ok I see, to be honest it sounds like you're under a bit of pressure, which could turn out to be a good thing, but in most cases it isn't I guess.. when you're under presure it's hard to have patience IMO, but I wish you all the best and don't worry, the markets are always there..
True, but it is what it is.

What is up with E/A? Finding some support at 1,5220 finally?
Fix up, trade sharp ...
  • #3,054
  • Mar 18, 2014 10:26am Mar 18, 2014 10:26am
Quoting Hickson
What is up with E/A? Finding some support at 1,5220 finally?
I don't know and wouldn't count on it. When/if AU breaks the high for good, we might see some retracement, but midterm it's more down imo.
Fail better.
  • #3,055
  • Mar 18, 2014 10:29am Mar 18, 2014 10:29am
Quoting LarryDarrell
{quote} I don't know and wouldn't count on it. When/if AU breaks the high for good, we might see some retracement, but midterm it's more down imo.
Exactly, E/U seems to have found support, but A/U is out of control. GBP also down - good I stayed away from it today.
Fix up, trade sharp ...
  • #3,056
  • Mar 18, 2014 10:31am Mar 18, 2014 10:31am
Quoting Hickson
{quote} True, but it is what it is. What is up with E/A? Finding some support at 1,5220 finally?
yes, you're absolutely right..

I dont follow EA, I've tried looking at GJ,AJ,UJ,EJ,EA,AU but only because a lot of you guys keeps mentioning them.. lol..

long story short, it's to confusing.. I don't know them at all, I don't know how they move, news, reaction at levels etc etc.. I'll take a glance when I hear about them from time to time, but not enough to comment on levels.. I'll stick to euro, cable & dax.. maybe I'll add something later, who knows..
Patience is a virtue...
  • #3,057
  • Mar 18, 2014 11:13am Mar 18, 2014 11:13am
Looks like Ken knows exactly that the market is untradable at the moment. LOL. He did not post much during the last days.
Fix up, trade sharp ...
  • #3,058
  • Mar 18, 2014 12:04pm Mar 18, 2014 12:04pm
Quoting Hickson
Looks like Ken knows exactly that the market is untradable at the moment. LOL. He did not post much during the last days.
I have bigger problem. I can't log in all my accounts don't remember the passwords and servers. My RAID 0 array (C Drive) crashed. Replace the SSDs - rebuilt the RAID - dumped image file to the new disks and all my passwords are gone.

On the other hand, yes, it's not easy to trade this market. I think I have one E/A long trapped w/o stop loss.
  • #3,059
  • Mar 18, 2014 12:17pm Mar 18, 2014 12:17pm
Quoting Ken A
{quote} I have bigger problem. I can't log in all my accounts don't remember the passwords and servers. My RAID 0 array (C Drive) crashed. Replace the SSDs - rebuilt the RAID - dumped image file to the new disks and all my passwords are gone. On the other hand, yes, it's not easy to trade this market. I think I have one E/A long trapped w/o stop loss.
Oh damn ... so you might have to proof your ID to your broker in order to regain control over your accounts? Maybe you are lucky, E/A might bounce a bit if A/U cannot make a new high now.
Fix up, trade sharp ...
  • #3,060
  • Mar 18, 2014 12:21pm Mar 18, 2014 12:21pm
Quoting Hickson
{quote} Oh damn ... so you might have to proof your ID to your broker in order to regain control over your accounts? Maybe you are lucky, E/A might bounce a bit if A/U cannot make a new high now.
Not worried about E/A - my pain tolerance is -500 pips.

I have 3 active accounts all from 3 different house.

A/U too early to tell - my line in the sand is RED line - I have to create demo accounts to see whats going on.
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