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Trading Made Simple

  • #48,721
  • Jan 6, 2015 10:27am Jan 6, 2015 10:27am
Quoting Vladbold
I actually have a question - i know Phx62 wrote time and time again in his posts that he doesn't post losses because he says no-one will learn from them. Why don't we post losses? I for one am very grateful for the handful of traders that actually posts their losses. They post charts along with an explanation. "There are the reasons i went in. This is what i thought. I was wrong". I find these losses to be important - learning that we can lose trades, even if we lose a few. And i have a confession to make : in days i've ended up losing 50, or 100...
Talking about Losses I'm in one right now. The question is should I wait for it to come back in the "hopes" that it will turn into breakeven or should I leave those pips on the table and move on. This is where I have my issues. someone feel free to help. Thank you.
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Positive anything is better than negative thinking.- Elbert Hubbard
  • #48,722
  • Jan 6, 2015 10:33am Jan 6, 2015 10:33am
Quoting Vladbold
I actually have a question - i know Phx62 wrote time and time again in his posts that he doesn't post losses because he says no-one will learn from them. Why don't we post losses? I for one am very grateful for the handful of traders that actually posts their losses. They post charts along with an explanation. "There are the reasons i went in. This is what i thought. I was wrong". I find these losses to be important - learning that we can lose trades, even if we lose a few. And i have a confession to make : in days i've ended up losing 50, or 100...

I agree with you. Here's a loss from last night for you (by the way, I could post literally hundreds of losses, but I'll refrain).... this particular loss from last night was due to bad entry timing. I entered too early, got stopped out, then re-entered and ended up with +168
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  • #48,723
  • Jan 6, 2015 10:36am Jan 6, 2015 10:36am
Quoting sknight1
{quote} I agree with you. Here's a loss from last night for you (by the way, I could post literally hundreds of losses, but I'll refrain).... this particular loss from last night was due to bad entry timing. I entered too early, got stopped out, then re-entered and ended up with +168 {image}
Nice one Sknight. I decided to take the loss and look for another trade. and brush that one off. I should of looked at the signals but I didn't everything was shouting long for me could of been a positive trade. looking to fix those mistakes as the week goes on. I shouldn't try to fix a system that's not broken. everything is in front of me.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #48,724
  • Jan 6, 2015 10:45am Jan 6, 2015 10:45am
Quoting redcloudxlll
{quote} Nice one Sknight. I decided to take the loss and look for another trade. and brush that one off. I should of looked at the signals but I didn't everything was shouting long for me could of been a positive trade. looking to fix those mistakes as the week goes on. I shouldn't try to fix a system that's not broken. everything is in front of me.
Redcloud, great decision, and thanks for the support!

Sknight, thank you too! hundreds of losses would be against the point, i completely agree with you, but the one you took last night is exactly what i (for one) am looking for. Especially due to the fact that you had the courage (read:balls) to re-enter correctly.

Thanks for sharing!
  • #48,725
  • Jan 6, 2015 10:49am Jan 6, 2015 10:49am
Quoting redcloudxlll
{quote} Talking about Losses I'm in one right now. The question is should I wait for it to come back in the "hopes" that it will turn into breakeven or should I leave those pips on the table and move on. This is where I have my issues. someone feel free to help. Thank you. {image}
Hi Redcloud, on my chart 200ema just above current price. Will it bounce back down or break through?

Ray
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  • #48,726
  • Jan 6, 2015 10:50am Jan 6, 2015 10:50am
Quoting emmanuel7788
{quote} Hi Folks, Now you know which pill choice you have. Its can either be the blue or the red. Next, you read this book and this can be the start of your transformation journey to become a super trader. {image} Once you know when and where to do the turnaround thing, you will be in the right path. I wish you a smooth journey.

Got on free PDF site!
Attached File(s)
File Type: pdf matrix-mini-book-van-tharp.pdf   576 KB | 989 downloads
There is no spoon....
  • #48,727
  • Jan 6, 2015 10:53am Jan 6, 2015 10:53am
Quoting fxray
{quote} Hi Redcloud, on my chart 200ema just above current price. Will it bounce back down or break through? Ray {image}
If I may, It might struggle a bit, but will certainly break through ... check D for confirmation .....
  • #48,728
  • Jan 6, 2015 10:56am Jan 6, 2015 10:56am
Quoting redcloudxlll
{quote} Talking about Losses I'm in one right now. The question is should I wait for it to come back in the "hopes" that it will turn into breakeven or should I leave those pips on the table and move on. This is where I have my issues. someone feel free to help. Thank you. {image}
Vladbold & Sknight,

I can only speak for myself.
When I trade, I set my stop-loss and I have a target in mind.
I use a set & forget strategy, which means when I'm in a trade
I either get stopped out or it hit's my target. I will not liquidate
out a loosing trade, I'll let my stop take me out. Even if it takes
a week of chopping around.

Yes, I have losers! But I have found that if I trade with the trend
and know where the levels are and know what the tdi is saying to
me, my odds are very good. But weird things happen...and every once
in a while I get stopped out because something has changed or my
timing of the entry was wrong.

When I take a loss, I move on to the next trade. It's like water on
a duck. I know the %'s are in my favor...and I keep on trucking
to the next trade.

sj
  • #48,729
  • Jan 6, 2015 10:59am Jan 6, 2015 10:59am
Quoting adikashyap
{quote} If I may, It might struggle a bit, but will certainly break through ... check D for confirmation .....
I see what you mean adijashyap.
  • #48,730
  • Jan 6, 2015 11:00am Jan 6, 2015 11:00am
Quoting Msis125125
{quote} Got on free PDF site! {image}
Thanks Msis,
I appreciate that!
How is the "grinding" going?
If you need any help be sure to ask & we
will help any way we can
sj
  • #48,731
  • Jan 6, 2015 11:01am Jan 6, 2015 11:01am
Quoting snarlyjack
{quote} Vladbold & Sknight, I can only speak for myself. When I trade, I set my stop-loss and I have a target in mind. I use a set & forget strategy, which means when I'm in a trade I either get stopped out or it hit's my target. I will not liquidate out a loosing trade, I'll let my stop take me out. Even if it takes a week of chopping around. Yes, I have losers! But I have found that if I trade with the trend and know where the levels are and know what the tdi is saying to me, my odds are very good. But weird things happen...and every once in a...
Thanks SJ. I didn't look at the simple things once again. Rookie mistake but learning from them.
Positive anything is better than negative thinking.- Elbert Hubbard
  • #48,732
  • Jan 6, 2015 11:03am Jan 6, 2015 11:03am
Quoting fxray
{quote} Hi Redcloud, on my chart 200ema just above current price. Will it bounce back down or break through? Ray {image}

From the looks of it. the trend and all TF are in sync with each other I don't see it reversing if it does it will be a very small retrace before making it's way up to 80.00
Positive anything is better than negative thinking.- Elbert Hubbard
  • #48,733
  • Jan 6, 2015 11:06am Jan 6, 2015 11:06am
Quoting snarlyjack
{quote} Vladbold & Sknight, I can only speak for myself. When I trade, I set my stop-loss and I have a target in mind. I use a set & forget strategy, which means when I'm in a trade I either get stopped out or it hit's my target. I will not liquidate out a loosing trade, I'll let my stop take me out. Even if it takes a week of chopping around. Yes, I have losers! But I have found that if I trade with the trend and know where the levels are and know what the tdi is saying to me, my odds are very good. But weird things happen...and every once in a...
SJ,
If TDI is sitting around for long at 32 level ... but very strong in ABP ... the way it is in GJ now (on ! and 4 H) ... what will you do or what do you advice to do ... Trade or ?
EDIT .. next support on D is almost 250 pips away ......
  • #48,734
  • Jan 6, 2015 11:18am Jan 6, 2015 11:18am
Quoting adikashyap
{quote} SJ, If TDI is sitting around for long at 32 level ... but very strong in ABP ... the way it is in GJ now (on ! and 4 H) ... what will you do or what do you advice to do ... Trade or ? EDIT .. next support on D is almost 250 pips away ......
Adikashyap,

See my enclosed charts.

When I look at the daily, the main upward trend has been broken
and the new downward trend looks to have started.

The 4 hour chart is in a downward trend.
Look to see where the 200 ema is. (long term trend).
It is probably heading towards the 200 ema. I would
like to see it retrace back into the guppy's so I could
get a better short set-up.

sj
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  • #48,735
  • Jan 6, 2015 11:18am Jan 6, 2015 11:18am
Quoting Vladbold
{quote} Redcloud, great decision, and thanks for the support! Sknight, thank you too! hundreds of losses would be against the point, i completely agree with you, but the one you took last night is exactly what i (for one) am looking for. Especially due to the fact that you had the courage (read:balls) to re-enter correctly. Thanks for sharing!
Vladbold, you're very welcome. I've had a long and expensive learning curve. I'd like to think that I'm not dense but, it has taken a lot of practice, losses, and frustration to get the hang of how to trade profitably. As mentioned in another post, I'm now working on repairing the damage that i've done to my account. But I see it from the perspective of getting a college graduate / masters degree.... similar in time and expense.

Re: courage / balls.... lol ~ courage, maybe. Balls, definitely not. Last time I checked, I had only "girl parts". Thank heavens !!!


SJ ~ agreed on all points. However, I was awake all night night with the stomach flu so, I put my laptop beside the bed and in between numerous trips to the bathroom, I manually trailed my stop. I had a specific target / support level in mind but, wanted to lock in profits along the way. Then, just a few hours ago, I re-entered GN short that had hit my stop loss last night because it had not yet reached the target I had in mind and had not shown a complete reversal. So, total was 168 + 70 -25 on the mistaken early entry. Not a bad night.
  • #48,736
  • Jan 6, 2015 11:20am Jan 6, 2015 11:20am
Quoting sknight1
{quote} I use the 1h & 4h as my primary trends.

thank you sknight love your trading skills
  • #48,737
  • Jan 6, 2015 11:22am Jan 6, 2015 11:22am
Quoting toksy
{quote} thank you sknight love your trading skills

Thanks. Like everything else in life, they are a "work in progress".
  • #48,738
  • Jan 6, 2015 11:27am Jan 6, 2015 11:27am
Have been following this thread closely for the past few months and managed to read the early Eelfranz posts and much of the latter posts, from Oct 14. Have traded lower TF for a while with varied results, so have made the switch to HF with some early success. Many Thanks to all for such valued input.
(The thousand mile journey starts with a single step!)
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  • #48,739
  • Jan 6, 2015 11:27am Jan 6, 2015 11:27am
Quoting stevepatt
{quote} Hi montego; Trading with the Trend will never be a bad decision. The closer you are to a change in Market Structure the Stronger your chance of success with a Trade. I hope the charts below show how Market Structure can be Traded by just looking for the Pullbacks in the Primary Trend and then looking for the best opportunities to take Trades in line with the Primary Trend. It doesn't really matter what you use to enter Trades as long as you know where to be looking to take them and which direction to Trade. {image} {image} {image} {image}...

Hi Steve!

Happy New year. You post are wisdom. Please keep on posting.

Regards,
AB
  • #48,740
  • Jan 6, 2015 11:31am Jan 6, 2015 11:31am
Quoting likica
For those who trade on small TF like me: ' trade away from daily_open Line and 200 MA' is the great tip from one of our seniors and I think it was Emman who stated it . Put it on and see...

Thanks for recap.
On UDSJPY, why took the trade for 30pips? Why not 50 pips?

regards,
AB
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