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  • #979,021
  • Apr 8, 2015 2:45pm Apr 8, 2015 2:45pm
I was expecting stronger volatility after FED released the FOMC Minutes, but the pair couldn't even break below the support at 1.0790. It looks like consolidation continues.
  • #979,022
  • Apr 8, 2015 2:45pm Apr 8, 2015 2:45pm
Quoting Ratmach
{quote} Tell me if this is stupid on my part: I've had a short for a couple days that went pretty hard against me, and I stubbornly refused to get out. But now it's come back to where I'm a little bit in profit. After the big negative I had been holding, it was tempting to just get out when it came back this afternoon. But I haven't. My thought was "You idiot, you sat on this thing while it was negative, so why would you be happy to just take a tiny profit. Hold onto it and maybe it'll keep going, and will have been worth your while." Not really...
Yes and No
  • #979,023
  • Apr 8, 2015 2:47pm Apr 8, 2015 2:47pm
Quoting Ratmach
{quote} Tell me if this is stupid on my part: I've had a short for a couple days that went pretty hard against me, and I stubbornly refused to get out. But now it's come back to where I'm a little bit in profit. After the big negative I had been holding, it was tempting to just get out when it came back this afternoon. But I haven't. My thought was "You idiot, you sat on this thing while it was negative, so why would you be happy to just take a tiny profit. Hold onto it and maybe it'll keep going, and will have been worth your while." Not really...
Same situation here. I'm holding short.
I am NOT an expert. I post to learn from others.
  • #979,024
  • Apr 8, 2015 2:48pm Apr 8, 2015 2:48pm
Quoting gatorinla
{quote} at 0821 when news came out. that may be it
0823 yet to be tested?
Fix up, trade sharp ...
  • #979,025
  • Apr 8, 2015 2:51pm Apr 8, 2015 2:51pm
Quoting CandleStar
{quote} Yes and No
And I suppose I don't even get a drink of that shake until I've "learned"...

http://www.adweek.com/files/imagecac...-hed2-2013.jpg
  • #979,026
  • Apr 8, 2015 2:51pm Apr 8, 2015 2:51pm
Quoting ws121
{quote} Do you still see a leg up unlocked after today? Excuse my humble opinion, as I think that it's locked now but the trend continuation leg down will be faced with lots of support levels, however it's inevitable. Just as usually, we all seek your opinion as a guide. Andrew
Yeap we cleared the FOMC already. Except for some unexpected Greek cough here or there (Greece will come back in play later in June so right now its is still pretty much noise) the path is clear till the last week week of April when the new FOMC packed with a bag of bad reports comes in play again.

The leg is unlocked now 1.087x is empty and nobody is there any more. There were only a mild short profit taking on the FOMC and bears are still holding the upper hand intraday. As long as they hold the hand there is not much you can do but either sit tight if you loaded longs 1.076x/8x or 1.080x or if you want or planning to play it safe just fade the daily lows or a rejection of swing in H4.

In my books, there is nothing to see/do to the short side at these levels if you are not already holding from the highs or the minor 1.087x this week.

Tracking 1.078x for the roll. 1.083x is the line in the sand till the end of the week...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #979,027
  • Apr 8, 2015 2:53pm Apr 8, 2015 2:53pm
Quoting Hickson
{quote} How have you been mate? Little trader doing well?
yea he all good, keeping us busy....he is very interested in the milk market right now mostly...
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Look Sharp/Trade Tight
  • #979,028
  • Apr 8, 2015 2:53pm Apr 8, 2015 2:53pm
Quoting Ratmach
{quote} Tell me if this is stupid on my part: I've had a short for a couple days that went pretty hard against me, and I stubbornly refused to get out. But now it's come back to where I'm a little bit in profit. After the big negative I had been holding, it was tempting to just get out when it came back this afternoon. But I haven't. My thought was "You idiot, you sat on this thing while it was negative, so why would you be happy to just take a tiny profit. Hold onto it and maybe it'll keep going, and will have been worth your while." Not really...
Have a pending LONG at 1.07520 Target 1.109xx SL Normally under 10 But will adjust a bit
A good trader follows his rules, but great trader knows when to break them
  • #979,029
  • Apr 8, 2015 2:54pm Apr 8, 2015 2:54pm
Quoting Ratmach
{quote} Tell me if this is stupid on my part: I've had a short for a couple days that went pretty hard against me, and I stubbornly refused to get out. But now it's come back to where I'm a little bit in profit. After the big negative I had been holding, it was tempting to just get out when it came back this afternoon. But I haven't. My thought was "You idiot, you sat on this thing while it was negative, so why would you be happy to just take a tiny profit. Hold onto it and maybe it'll keep going, and will have been worth your while." Not really...
You don't have a predetermined stop loss, that's why you freak out. You were just in denial and start rationalizing every possible way to justify your wrong entry.
Next time, be disciplined and stick to the original plan. Move out and focus on the next entry.

Yes it is stupid to a wallow over that trade when you should be focusing on the next trade. Accept it when you are wrong and be responsible. Don't be a pussy.

Unless you are like those demo traders who can just wait till the direction move back in their direction. There are many of them here, so be careful when they give their comments and sentiments.
Life only tastes good when you eat what you kill.
  • #979,030
  • Apr 8, 2015 2:55pm Apr 8, 2015 2:55pm
Quoting Ken A
Vely quiet ............. Strange ...........
and then the silence

http://www.forexfactory.com/showthre...99#post8187699
  • #979,031
  • Apr 8, 2015 2:55pm Apr 8, 2015 2:55pm
Quoting Ratmach
{quote} Tell me if this is stupid on my part: I've had a short for a couple days that went pretty hard against me, and I stubbornly refused to get out. But now it's come back to where I'm a little bit in profit. After the big negative I had been holding, it was tempting to just get out when it came back this afternoon. But I haven't. My thought was "You idiot, you sat on this thing while it was negative, so why would you be happy to just take a tiny profit. Hold onto it and maybe it'll keep going, and will have been worth your while." Not really...
It depend on what happen next, if price continue going down then you will say "wow holding was such a good thing, it was full of sense."

But if price now start going up and up and up, you will say "oh the market was so KIND to me, he went back all way down to allow me to close in profit, instead i got greedy and now i'm in deep shit. That was soo stupid!"
  • #979,032
  • Apr 8, 2015 2:56pm Apr 8, 2015 2:56pm
Quoting AllyB
{quote} hi jimmy just saw this an thought I would say hi back I am doing good here .. trading has been a bit on the slow side and making a few and not losing much so all is ok you doing a bit more this week? news in a few but don't expect much out of it so it will probably make a lire out of me LOL
Well today made up for pretty much the whole month... Dustbins by the bag north and south!
  • #979,033
  • Apr 8, 2015 2:58pm Apr 8, 2015 2:58pm
The future....

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  • #979,034
  • Apr 8, 2015 2:59pm Apr 8, 2015 2:59pm
Quoting ill_be_back
{quote} Have a pending LONG at 1.07520 Target 1.109xx
Noted...
  • #979,035
  • Apr 8, 2015 3:01pm Apr 8, 2015 3:01pm
Quoting Ratmach
{quote} Tell me if this is stupid on my part: I've had a short for a couple days that went pretty hard against me, and I stubbornly refused to get out. But now it's come back to where I'm a little bit in profit. After the big negative I had been holding, it was tempting to just get out when it came back this afternoon. But I haven't. My thought was "You idiot, you sat on this thing while it was negative, so why would you be happy to just take a tiny profit. Hold onto it and maybe it'll keep going, and will have been worth your while." Not really...
Little advice: when the market gives you an oppurtunity to correct previous mistake , you must take it and be grateful. If you see the market will continue declining then you will have a time to reanalyze and enter again with better signal. This is better that regretting later. Remember those trades were made based on wrong analysis.
  • #979,036
  • Apr 8, 2015 3:03pm Apr 8, 2015 3:03pm
Quoting spaceduck
{quote} It depend on what happen next, if price continue going down then you will say "wow holding was such a good thing, it was full of sense." But if price now start going up and up and up, you will say "oh the market was so KIND to me, he went back all way down to allow me to close in profit, instead i got greedy and now i'm in deep shit. That was soo stupid!"
Sound about right. Btw I believe we are going up when London returns. Lots of stops to run up there.
  • #979,037
  • Apr 8, 2015 3:05pm Apr 8, 2015 3:05pm
Quoting TataFara
{quote} Little advice: when the market gives you an oppurtunity to correct previous mistake , you must take it and be grateful. If you see the market will continue declining then you will have a time to reanalyze and enter again with better signal. This is better that regretting later. Remember those trades were made based on wrong analysis.
A good trader follows his rules, but great trader knows when to break them
  • #979,038
  • Apr 8, 2015 3:05pm Apr 8, 2015 3:05pm
Quoting cherader
{quote} You don't have a predetermined stop loss, that's why you freak out. You were just in denial and start rationalizing every possible way to justify your wrong entry. Next time, be disciplined and stick to the original plan. Move out and focus on the next entry. Yes it is stupid to a wallow over that trade when you should be focusing on the next trade. Accept it when you are wrong and be responsible. Don't be a pussy. Unless you are like those demo traders who can just wait till the direction move back in their direction. There are many of...
Thanks. Yeah I think I'm gonna start using a SL, even if it occasionally takes me out prematurely. Like you say, it'll save me from the stress of wondering if THIS is gonna be the one that just keeps going and going against me (and the subsequent need to keep an eye on the thing, when I could have been out and on to the next one). And no, mine isn't demo... it's live. And if (IF, key word) I get past these early hiccups, I'll start posting my trades.
  • #979,039
  • Apr 8, 2015 3:08pm Apr 8, 2015 3:08pm
Quoting spaceduck
{quote} It depend on what happen next, if price continue going down then you will say "wow holding was such a good thing, it was full of sense." But if price now start going up and up and up, you will say "oh the market was so KIND to me, he went back all way down to allow me to close in profit, instead i got greedy and now i'm in deep shit. That was soo stupid!"
Yeah, most definitely. Hey, did you guys know that the hardest part of trading is emotions/psychological barriers? Bet you've never heard that before!
  • #979,040
  • Apr 8, 2015 3:10pm Apr 8, 2015 3:10pm
Quoting Ratmach
{quote} Yeah, most definitely. Hey, did you guys know that the hardest part of trading is emotions/psychological barriers? Bet you've never heard that before!
Haha! Tell me more.
I am NOT an expert. I post to learn from others.
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