Disliked{quote} Be careful. I believe that this is what is happening and am building a long position.I also realise this may not be the case.When at this stage I keep a close eye on my margin and NEVER let it fall below 50%. If things start to go tits up I'm not afraid to reduce it by taking a loss on the trades furthest away, thereby bringing my net price closer to me. If and when it makes its move in my direction it's happy days as I've got that nice cushion at the bottom/top and I can start being a bit more aggressive. Remember ,leverage can kill you...Ignored
{quote} IF its going to move up it will probably depend on where the stops are placed.Don't forget the blokes in the pit can see both sides of the order book!
- #86,689
- Nov 5, 2014 11:03am Nov 5, 2014 11:03am
{quote} H4 is showing the bottom of a third wave it looks like to me. Feels to me that the employment data will be better than expected given the strong sell off already so we'll see A/U go back up to .863 before next wave (down?).
green pips 
- #86,690
- Nov 5, 2014 11:05am Nov 5, 2014 11:05am
{quote} that what I'm thinking. But it I did also think NFP can kick it up to resistance. So either way it should happen this week than..... see you all at the bottom.
- #86,691
- Nov 5, 2014 11:06am Nov 5, 2014 11:06am
{quote} thanks and yea... mistake thinking more up before this way down. dammit... but we almost at .85000 though
that was awesome , at least cold close it in little profit. So funny - #86,692
- Nov 5, 2014 11:08am Nov 5, 2014 11:08am
{quote} it's was dam of me fall asleep before confirm my stop loss
sucks
- #86,693
- Nov 5, 2014 11:28am Nov 5, 2014 11:28am
- Joined Oct 2011 | Status: quo | 4,193 Posts
{quote} it's was dam of me fall asleep before confirm my stop loss
As Above, So Below
- #86,694
- Nov 5, 2014 11:35am Nov 5, 2014 11:35am
{quote} i see you have some issues with managing the losing trades which need little work, but good entries and analysis overall
- #86,696
- Nov 5, 2014 11:51am Nov 5, 2014 11:51am
- Joined Oct 2011 | Status: quo | 4,193 Posts
{quote} did we get the cycle wrong? or should we have aimed for smaller ranges hmmm... and is the gap there a trap?
simple yet extremely hard to accomplish, is not it?
As Above, So Below
- #86,697
- Nov 5, 2014 12:10pm Nov 5, 2014 12:10pm
{quote} i see you have some issues with managing the losing trades which need little work, but good entries and analysis overall
and I do ! - #86,698
- Nov 5, 2014 12:19pm Nov 5, 2014 12:19pm
{quote} trading is all about TAKING the profit and MINIMIZING the loss. simple yet extremely hard to accomplish, is not it?
Thanks again for kind advice *hugs*
- #86,699
- Nov 5, 2014 12:32pm Nov 5, 2014 12:32pm
{quote} so many possibilities lol. ok the setup i saw failed... now thinking of yours. need something to halt the fall for a rise before NFP? NFP may be a wildcard again
- #86,700
- Edited 12:47pm Nov 5, 2014 12:36pm | Edited 12:47pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
{quote} crap... you are so right. sounds easy yet hard to put in practice my god. so instead of focusing on cycles... we should be focusing on that?
1) entry
2) trade/position management
3) exit
parts one and three take less than a second to complete. click of a mouse button. click, your in and click, you are out.
the main, the most important part, however, is the second. let's say, now you are in and have an open position. what would you do? basically nothing, just wait until it hits the profit or sl, right? or enter, walk away, and come back to see if you hit tp or sl.
but i have to tell you: this is ABSOLUTELY WRONG attitude. Actually, one has to spend most of his time managing his/her positions! this is a very hard work, but once you master it, even falling knife can't harm you! let me put it this way: you can come out with profit or at BE out of thousands and thousands pips of drawdown. which means, your entry has negligible importance to become a successful trader.
over 90% of the traders are too concerned about the 1st part (entry), which is the less important. Meanwhile no time spend for managing the position, therefore you have confirmed 90% losers in forex
the third part is another topic of discussion
As Above, So Below