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  • #950,061
  • Jan 14, 2015 7:58am Jan 14, 2015 7:58am
Quoting mkvy
I admit ive been burned this week... 50% loss on two accounts, 100% loss on another... another epic fail! I got into the idea of longer timeframe charts... but I can say it did not work for me... engulfing daily candles = epic fail,, long term moving averages = epic fail, fractals = epic fail!! Price action = epic fail! so I gone back to my original 10 pip system... and fortunately its working today well... and even better I got a working copy of universal ma cross ea that actually works for me on the latest MT4.. Final conclusion is that what you...
Sorry to hear that. Use tools that are comfortable to you. I am a manual guy and don't have any knowledge on MT4. Patients (chicky's philosophy) and less greedy is the medicine for forex
  • #950,062
  • Jan 14, 2015 7:59am Jan 14, 2015 7:59am
hi everyone,

wow just look at the spike!
  • #950,063
  • Jan 14, 2015 8:00am Jan 14, 2015 8:00am
No one expect such big bullish candle!
Without an edge MM is useless!
  • #950,064
  • Jan 14, 2015 8:00am Jan 14, 2015 8:00am
Quoting Tom_D_Trader
So now I finally know whats the impact of sales..... (joke). Anyway, problem for bears now, is that H4, which is about to close in 5 mins is definitely going to be scary and breaks few levels. Hope weekly open @ 184 is not among them. Btw, ofc I martingaled there. Think that guy was smart fella.


I am long at 830
  • #950,065
  • Jan 14, 2015 8:00am Jan 14, 2015 8:00am
Quoting Krespo
Took a loss on UJ but was able to close EU short before the news release. The numbers are really bad and the dollar run is overextended. Think this might go to 1,1975-1,20 area before ECB.
Well, if it'd like to take back some of these red pips before it goes up there, I'd be more than happy!
  • #950,066
  • Jan 14, 2015 8:01am Jan 14, 2015 8:01am
Took out...tempting to act, but I won't do anything. One train leaved already, the other's station is unknown. So peace, I'm out.
f(z)=z2+c
  • #950,067
  • Jan 14, 2015 8:02am Jan 14, 2015 8:02am
Quoting Tom_D_Trader
{quote} Please can you go all in at 1,185? I got stops at ,1855 and need someone to cover me. I will go all in as well, we move the market, I promise.
I can go all in with AA in my hands pre-flop at any table but not here .

Below 1.1750 eur was 1/2 against dollar index. Index may move complete 100 pips today or even test to 91.
They think they are smarter than I am.
  • #950,068
  • Jan 14, 2015 8:04am Jan 14, 2015 8:04am
Quoting janpec1000
{quote} I am long at 830
Yy, thumbs up, but I am short mate. Now thumbs up to you , I am about to crawl in corner licking my wounds pretty soon . GL
Quoting Z3iz3i
I can go all in with AA in my hands pre-flop at any table but not here .
Since you went to poker realm. In tournaments at beginning phase - I can go all in with any pair. 51% good enough . Noobs are gonna fold anyway unless they got TT+.
"I know one thing, that I know nothing." Sokrates
  • #950,069
  • Jan 14, 2015 8:06am Jan 14, 2015 8:06am
Quoting Tom_D_Trader
{quote} Yy, thumbs up, but I am short mate. Now thumbs up to you , I am about to crawl in corner licking my wounds pretty soon . GL
I know you are short, i thumbed you up for recognizing good fact regarding h4
  • #950,070
  • Jan 14, 2015 8:06am Jan 14, 2015 8:06am
YOU traders were convinced of a rebound since we broke 1.2 to restest it , you were so concerned about that then you shifted sentiment when you have seen how market is determined for the downtrend , psychologically saying market usually aims for some levels before turning and that level seems to be hard to reach, the problem is not how we reach it but how to identify it and there where most of you fails .
Get Rich or Die Tryin
  • #950,071
  • Jan 14, 2015 8:07am Jan 14, 2015 8:07am
Quoting pipster1
{quote} You didn't answer his question. What was your impetus for entering the trade? Nothing wrong with attempting to understand a trader's reasoning behind an entry. This helps people learn. Are you using fibo retrace? Candles what? Because I agree with ahacker, I see no reason to go long at that point. Actually it was a great time to be short, and I did, the entry trigger was perfect. {image} Cheers
That guy didn't ask a question to learn...its just one of those people who wait for other people's entries and then if they are wrong, act like they knew it all along. But you never see a trade being posted by them, they always come after with their "I knew that". lol

btw I was long, because that spike that just happened, I was expecting that to happen from above 1750, not after the break...
Everyone can see the chart, but only a few can actually read it.
  • #950,072
  • Jan 14, 2015 8:08am Jan 14, 2015 8:08am
Quoting hathor
{quote} Sorry to hear that, but your personal attribution is a winner type. Only few can admit fails front of others, and they are who can learn from mistakes. The rest will repeat them for ever.
inspiring comments.. but I least I know for me I cannot make decisions in manual trading... so I better refine my strategy that worked before this mess, and set that amazing EA that works for me...then maybe I can start enjoying life again and stop continuously looking at my bloody iphone mt4 app whilst at work
  • #950,073
  • Jan 14, 2015 8:10am Jan 14, 2015 8:10am
Quoting Tom_D_Trader
{quote} Please can you go all in at 1,185? I got stops at ,1855 and need someone to cover me. I will go all in as well, we move the market, I promise.
Well that was the risk on chasing shorts at these levels. It was trading air when it got here but now after 5 days we have a confirmed consolidation area. I don't think you can do much with stops at 1.185x except let you stop out for the just in case. Now we have double H4 and daily rejection of lows in play. Still 1.181x is line in sand again like yesterday (its stronger level now as it will become daily Support and probably Weekly if we retrace).

However, for the first time this year there is a valid swing trade(s) in my books in play. Tracking 1.181x for the break back up to 1.198x with extension to 1.227x and the failure to complete the move to 1.157x.

Best of luck with those final shorts you are holding...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #950,074
  • Jan 14, 2015 8:10am Jan 14, 2015 8:10am
Quoting hathor
{quote} Sorry to hear that, but your personal attribution is a winner type. Only few can admit fails front of others, and they are who can learn from mistakes. The rest will repeat them for ever.
Totally Agreed buddy
Every Good Things Starts With "Bismillah"
  • #950,075
  • Jan 14, 2015 8:11am Jan 14, 2015 8:11am
Quoting mkvy
I admit ive been burned this week... 50% loss on two accounts, 100% loss on another... another epic fail! I got into the idea of longer timeframe charts... but I can say it did not work for me... engulfing daily candles = epic fail,, long term moving averages = epic fail, fractals = epic fail!! Price action = epic fail! so I gone back to my original 10 pip system... and fortunately its working today well... and even better I got a working copy of universal ma cross ea that actually works for me on the latest MT4.. Final conclusion is that what you...
Hi,

sorry to hear about your performance. I can give you a hint, everyone already knows about, but still need to reapeat it. Use only a very small part of your account deposit per trade. Don't know how how much you use. As far as I am concerned, if I have an account of say 1000USD I would not open more than one position at a time of 0,1 lot. If I plan to open two positions I make them 0,05 lot. This is a an element of discipline, that should go before every other aspct of trading know how imo.

Regards
Mike
  • #950,076
  • Jan 14, 2015 8:15am Jan 14, 2015 8:15am
Quoting sisse
Well that was the risk on chasing shorts at these levels. It was trading air when it got here but now after 5 days we have a confirmed consolidation area. I don't think you can do much with stops at 1.185x except let you stop out for the just in case. Now we have double H4 and daily rejection of lows in play. Still 1.181x is line in sand again like yesterday (its stronger level now as it will become daily Support and probably Weekly if we retrace). However, for the first time this year there is a valid swing trade(s) in my books in play. Tracking...
Thx for input mate. I know, am a bit sad now. I ve already made this mistake few times that I got confused on final break and overleveraged wrong level. Now it was 1,177, which got me to this trouble. It all began with this fake h1, which was also ,179 hold, break and then confirm. Those are in white circles. Am fine, but was in pretty nice profit and now +only 0,6% this month. SL covered +0,17.
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"I know one thing, that I know nothing." Sokrates
  • #950,077
  • Jan 14, 2015 8:16am Jan 14, 2015 8:16am
Quoting mkvy
I admit ive been burned this week... 50% loss on two accounts, 100% loss on another... another epic fail! I got into the idea of longer timeframe charts... but I can say it did not work for me... engulfing daily candles = epic fail,, long term moving averages = epic fail, fractals = epic fail!! Price action = epic fail! so I gone back to my original 10 pip system... and fortunately its working today well... and even better I got a working copy of universal ma cross ea that actually works for me on the latest MT4.. Final conclusion is that what you...
Good Luck
  • #950,078
  • Jan 14, 2015 8:18am Jan 14, 2015 8:18am
Quoting Michael O.
{quote} Hi, sorry to hear about your performance. I can give you a hint, everyone already knows about, but still need to reapeat it. Use only a very small part of your account deposit per trade. Don't know how how much you use. As far as I am concerned, if I have an account of say 1000USD I would not open more than one position at a time of 0,1 lot. If I plan to open two positions I make them 0,05 lot. This is a an element of discipline, that should go before every other aspct of trading know how imo. Regards Mike
yes I agree, but if I used minimum risk it would just take longer to lose all my account because I fundamentally cannot manually trade
  • #950,079
  • Jan 14, 2015 8:26am Jan 14, 2015 8:26am
Quoting ExForX
{quote} Great reply, I agree; everybody has his own strategy and your trades sometimes seem risky, but your analysis seems sound and with correct moneymanagement you must be doing well. Anyone caught the short spike?
All trades are a risk, its all about money management and a good SL. And I don't post all the trades, either...before I entered the long at 1780, I was short from 1810 and closed that trade at 1785, because it seemed too bullish to me. But then again...if I didn't close that trade, the retail news spike would have closed it, so I wouldn't have any profit from that either. I don't have the patience to hold a trade for long...so I get in and out. Even when I post a target 200-300 pips away, I don't hold...I just keep trading towards that target and close the trades in between and try to re-load at better levels again, on a daily basis.
Everyone can see the chart, but only a few can actually read it.
  • #950,080
  • Jan 14, 2015 8:26am Jan 14, 2015 8:26am
Quoting mkvy
{quote} inspiring comments.. but I least I know for me I cannot make decisions in manual trading... so I better refine my strategy that worked before this mess, and set that amazing EA that works for me...then maybe I can start enjoying life again and stop continuously looking at my bloody iphone mt4 app whilst at work
Than my advise is You have to close out yourself, your human personality from making any move in the market. In this case you really have to refine your system. I know this kind of situation pretty well, you have to make/find out a system, which will make every decisions, and than you won't feel guilty. Don't torment yourself. If you would like to speak about this , just write, sometimes it helps if you know you're not alone with this problem.
Every successful trader goes through this. Need to fail to know the bad, and to appreciate the (even small) good.
Ok...end of wiseness.
f(z)=z2+c
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