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Bull City Baby! Buying Opportunities

  • #901
  • Dec 12, 2014 1:40pm Dec 12, 2014 1:40pm
Quoting benaiah
{quote} For me, if I am having difficulty recovering mentally from anything, I re-evaluate my priorities. In trading. In life. Usually, if I get emotionally drained from anything, it's because I lost my focus on the more important things. In trading. In life. And applying this specifically to trading, an emotional drain at the end of the week is usually a result of a culmination of bad decisions. Too much risk, not following rules, etc. And I have also found that if I enter a trade and watch price go into profit, then drawdown, it is emotionally...
No need to apologise , you can learn so much from listening to people's stories.
  • #902
  • Dec 12, 2014 1:44pm Dec 12, 2014 1:44pm
Quoting benaiah
Okay, I can't shut up now... Ever since I started trading, I wanted to form a group, as I recognized the advantage of multiple sharp minds focusing together. But I just couldn't seem to find anyone who was a good fit. After a few tries, I gave up and figured it must just continue to be a solitary journey. Then became active on FF, and got discouraged with all of the bickering and ego posting. Fast-forward to now... And it looks like we might have the start of a really good group here. Thanks again for everyone's presence
I agree I really like this group and it is helping me a lot too it's nice interacting with others that are in the same sort of trade and are reasoning in a similar way..... it is like a confirmation of sorts.... also like that everyone on here encourages each other etc
have a long way to go to be up to the level some of you are at but hey learn learn learn and will get there eventually right

Think when/if it reaches a higher level I am going to take profit and start again on Sun night would love to catch a gap up due to their elections but know I will be more at ease if I am just out till the results
  • #903
  • Dec 12, 2014 1:45pm Dec 12, 2014 1:45pm
Quoting Rizmeister
Means I am here for the long haul partner! You know how cowboys say partner or people down south with cowboy hats!.
me too
  • #904
  • Dec 12, 2014 1:48pm Dec 12, 2014 1:48pm
Quoting Sunsilk
{quote} No need to apologise , you can learn so much from listening to people's stories.
Thanks.

I might also add... Ha ha now I'll never shut up

I trade only one currency pair. Trying to watch more than one trade at a time drains me big time...
  • #905
  • Dec 12, 2014 1:52pm Dec 12, 2014 1:52pm
Quoting dbutton1990
Here's a question for the group. When you have a bad week, how do you recover mentally from it?

Take a break for a few days and only get back into the market when you are feeling better and then make sure you stick to your trading rules 100%
lets face it we will always have some losing trades but for me I am MUCH harder on myself about it when the trade did not quite agree with all my rules.
Whatever it is that you find that recharges your batteries go and spend some time this weekend doing that that should help as well...
  • #906
  • Dec 12, 2014 1:57pm Dec 12, 2014 1:57pm
Quoting benaiah
{quote} Thanks. I might also add... Ha ha now I'll never shut up I trade only one currency pair. Trying to watch more than one trade at a time drains me big time...
I am also trading EU but am not so heavily active in it.

GU as well, bit closer to home for me.

But at the moment - I am solely focused on this pair.



Quoting benaiah
Okay, I can't shut up now... Ever since I started trading, I wanted to form a group, as I recognized the advantage of multiple sharp minds focusing together. But I just couldn't seem to find anyone who was a good fit. After a few tries, I gave up and figured it must just continue to be a solitary journey. Then became active on FF, and got discouraged with all of the bickering and ego posting. Fast-forward to now... And it looks like we might have the start of a really good group here. Thanks again for everyone's presence

Also Ben I was going to say about the above post, well done with sticking with it. Persistence conquers all.
  • #907
  • Dec 12, 2014 2:03pm Dec 12, 2014 2:03pm
Quoting TessiaFx
{quote} I agree I really like this group and it is helping me a lot too it's nice interacting with others that are in the same sort of trade and are reasoning in a similar way..... it is like a confirmation of sorts.... also like that everyone on here encourages each other etc have a long way to go to be up to the level some of you are at but hey learn learn learn and will get there eventually right Think when/if it reaches a higher level I am going to take profit and start again on Sun night would love to catch a gap up due to their elections...
Welcome

I'm also looking towards the weekend, and wondering if I want to hold or TP. Up 50 pips so far, with 10 pip SL I haven't moved to BE yet...
  • #908
  • Dec 12, 2014 2:11pm Dec 12, 2014 2:11pm
Quoting Sunsilk
{quote} I am also trading EU but am not so heavily active in it. GU as well, bit closer to home for me. But at the moment - I am solely focused on this pair. Quoting benaiah Okay, I can't shut up now... Ever since I started trading, I wanted to form a group, as I recognized the advantage of multiple sharp minds focusing together. But I just couldn't seem to find anyone who was a good fit. After a few tries, I gave up and figured it must just continue to be a solitary...
Also Ben I was going to say about the above post, well done with sticking with it. Persistence conquers all.
Thanks! The results are proving to be very good, and exactly what I expected, when I started this thread. But still surprises me a bit, to see the kind of talent we've brought together, and different personalities, each adding value to the atmosphere
  • #909
  • Dec 12, 2014 2:17pm Dec 12, 2014 2:17pm
As we approach NY close, I'm watching lower time frames to see if they maintain bullish bias. So far, so good. If it still looks bullish up until within 15 minutes of close time, I consider holding.

Sometimes it's tricky though, as profit taking can cause a spike close to end of day. Then it completely changes the H1 and H4 look.

In view of all of the above, and uncertainty I usually don't hold over the weekend. But might consider it...

Anyone else venture to share their "weekend holding decision" strategy?
  • #910
  • Dec 12, 2014 2:24pm Dec 12, 2014 2:24pm
I will be holding. Worth the potential gap up from elections. Thats just me. I am also a tad bit more risky than most.
  • #911
  • Dec 12, 2014 2:26pm Dec 12, 2014 2:26pm
Quoting benaiah
As we approach NY close, I'm watching lower time frames to see if they maintain bullish bias. So far, so good. If it still looks bullish up until within 15 minutes of close time, I consider holding. Sometimes it's tricky though, as profit taking can cause a spike close to end of day. Then it completely changes the H1 and H4 look. In view of all of the above, and uncertainty I usually don't hold over the weekend. But might consider it... Anyone else venture to share their "weekend holding decision" strategy?
I held two weeks ago on Gold for SNB Gold referendum.

I would advise anyone holding to be there when the markets open on sunday (10pmGMT) as it might retrace or do something weird.

Reason why: Fundamental time!

Abe is doing Abenomics which is like some recovery programme in Japan. It is not doing well and he has printed a shed of money to increase inflation I believe.

Abe's only rivals are the communists as the other party made a pigs ear of the economy last time. So there expecting Abe to win by a landslide. Obviously this may not happen but it looks more than likely.

If he stays in his snap election he will drive the yen down because of his policies.

That is what I understand.

Price action and technicals we have a pin bar on the H4 bouncing off support
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  • #912
  • Dec 12, 2014 2:26pm Dec 12, 2014 2:26pm
Quoting Rizmeister
I will be holding. Worth the potential gap up from elections. Thats just me. I am also a tad bit more risky than most.
In bed watching sons of anarchy
  • #913
  • Dec 12, 2014 2:29pm Dec 12, 2014 2:29pm
Quoting benaiah
{quote} Welcome I'm also looking towards the weekend, and wondering if I want to hold or TP. Up 50 pips so far, with 10 pip SL I haven't moved to BE yet...
Thanks,
You got in at a better level than I did.... I am 24 pips above entry I was looking to be around 70 above entry to leave it running so at this point I'm really leaning towards closing keeping an eye on PA to get a good exit and if by some chance it move in a big way on the next hour may still let it run
  • #914
  • Dec 12, 2014 2:32pm Dec 12, 2014 2:32pm
The hardest thing for me was if you look back at last Fridays post, I predicted this drop. Not to the extent that it did, but it happened none the less. I failed to trade it. It's literally eating me alive right now. My plan was to sell, and then buy into the weekend which I am now(Currently up 30 pips ) I tend to recover quickly and one win, will most likely cure it! Anyways, I hope you all have a good weekend!
Good luck and may the odds be ever in your favor!
  • #915
  • Dec 12, 2014 2:40pm Dec 12, 2014 2:40pm
Quoting dbutton1990
The hardest thing for me was if you look back at last Fridays post, I predicted this drop. Not to the extent that it did, but it happened none the less. I failed to trade it. It's literally eating me alive right now. My plan was to sell, and then buy into the weekend which I am now(Currently up 30 pips ) I tend to recover quickly and one win, will most likely cure it! Anyways, I hope you all have a good weekend!
I know I thought it would go up to 122 before this. Was definitely coming. See you next week.

Have a good one Pal.
  • #916
  • Dec 12, 2014 2:46pm Dec 12, 2014 2:46pm
Quoting dbutton1990
The hardest thing for me was if you look back at last Fridays post, I predicted this drop. Not to the extent that it did, but it happened none the less. I failed to trade it. It's literally eating me alive right now. My plan was to sell, and then buy into the weekend which I am now(Currently up 30 pips ) I tend to recover quickly and one win, will most likely cure it! Anyways, I hope you all have a good weekend!
Sorry I know how you feel have been there a few times..... I only trend trade and when everything retraces for days I sometimes then give it a break especially if I have a lot going on that has to be done..... have had a few occasions where I'd predicted the next high or low and then didn't get back and get in in time and that has eaten me a few times..... however the view I am trying to take is that there will always be other opportunities we just have to take them when they present themselves.... there's no chasing the missed move tried that a couple of times in the early days too which obviously generally does not work......
Have a good weekend and don't worry about what you predicted but didn't take rather focus on the fact that your prediction was spot on and use those skills to find the next one
  • #917
  • Dec 12, 2014 2:47pm Dec 12, 2014 2:47pm
Sunsilk nice take on the upcoming elections : )
  • #918
  • Dec 12, 2014 2:47pm Dec 12, 2014 2:47pm
ok everyone I'm off have a good weekend
  • #919
  • Dec 12, 2014 2:48pm Dec 12, 2014 2:48pm
OK buddies Have a nice week end ....especialy all active members(TessiaFX,Sunsilk,Rizmeister,dButtun1990 and Don of Forextrading Mr.BENAIAH who always participate in conversation that is helpfull in trading.
GOOD LUCK
Jettala
Attached Image
  • #920
  • Dec 12, 2014 2:56pm Dec 12, 2014 2:56pm
Quoting Jettala
OK buddies Have a nice week end ....especialy all active members(TessiaFX,Sunsilk,Rizmeister,dButtun1990 and Don of Forextrading Mr.BENAIAH who always participate in conversation that is helpfull in trading. GOOD LUCK Jettala {image}
Thanks mate,

See you next week

S
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