Late in the day and the markets are getting all twitchy now on "Greek protests"... I'm out of here. Happy 4th of July to those in the US.
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- #5,202
- Jul 3, 2015 3:03pm Jul 3, 2015 3:03pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #5,204
- Jul 4, 2015 7:27am Jul 4, 2015 7:27am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #5,205
- Edited 6:27am Jul 5, 2015 5:42am | Edited 6:27am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
hey guys - over the past few MNs i have noticed some noobs making - wat i would call - weird and basic errors and misjudgements ??? is this just me ??? i suppose a lot of information flys around and a new trader can easily get lost in the arbitrary nomenclature [as Phx62 would say] jungle
if things get confusing and you are lost - hit the reset button
- and go back to basics
Big E - which means TDI and HA/APB - on a Demo account - practice entries - this is absolutely important otherwise Big E would not have said so
Big E was the most experienced and talented trader!
if things get confusing and you are lost - hit the reset button
- and go back to basicsBig E - which means TDI and HA/APB - on a Demo account - practice entries - this is absolutely important otherwise Big E would not have said so
Big E was the most experienced and talented trader!
- #5,206
- Edited 7:58am Jul 5, 2015 5:55am | Edited 7:58am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
hey - me again - addressing the implementation of a SL strategy is a very basics requirement - having no SL or no SL plan or exceedingly large SL is dangerous IMO and you risk moving into the realm of gambling
Big E gives a solid SL strategy by hanging it on the suitable swing point - this is demonstrated W1 in W1 out by LK [see trading charts] - if you can not hang the SL in this way it may not be a good trade for your risk profile - dont take the trade and find another - this SL is for emergency as Big E had a mental SL
here are some quick videos on the psychology of losing trades & SL [note we set a physical SL in M30]
Big E gives a solid SL strategy by hanging it on the suitable swing point - this is demonstrated W1 in W1 out by LK [see trading charts] - if you can not hang the SL in this way it may not be a good trade for your risk profile - dont take the trade and find another - this SL is for emergency as Big E had a mental SL
here are some quick videos on the psychology of losing trades & SL [note we set a physical SL in M30
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- #5,207
- Edited 7:31am Jul 5, 2015 6:54am | Edited 7:31am
- Joined Aug 2014 | Status: Membership Terminated | 4,544 Posts
Big Es TMS strategy is focused on breakout/trend trades [and CT trades for more experienced traders] that [indirectly] means you should not buy into losing trades - in fact by the TMS rules its the worst time to do this [i tried to illustrate this in the chart - imagine trying to buy into this PA after going long - it makes no sense 
]
it is a far [far!] better idea to accept the lose - get out of the losing trade ASAP and get into the next winning trade - which in this case was a monster green pip trade
"If I'm not feeling strong about a current in progress trade... get out then and keep the pips... you don't have to wait for the next candle to exit. Grab your money and run to a new trade...", Big E
]it is a far [far!] better idea to accept the lose - get out of the losing trade ASAP and get into the next winning trade - which in this case was a monster green pip trade
"If I'm not feeling strong about a current in progress trade... get out then and keep the pips... you don't have to wait for the next candle to exit. Grab your money and run to a new trade...", Big E
- #5,208
- Jul 5, 2015 2:12pm Jul 5, 2015 2:12pm
- | Joined Dec 2014 | Status: Trader | 1,026 Posts
Positive anything is better than negative thinking.- Elbert Hubbard
- #5,210
- Jul 5, 2015 2:18pm Jul 5, 2015 2:18pm
- | Joined Dec 2014 | Status: Trader | 1,026 Posts
Positive anything is better than negative thinking.- Elbert Hubbard
- #5,211
- Jul 5, 2015 2:22pm Jul 5, 2015 2:22pm
- | Joined Dec 2014 | Status: Trader | 1,026 Posts
Positive anything is better than negative thinking.- Elbert Hubbard
- #5,214
- Jul 5, 2015 2:49pm Jul 5, 2015 2:49pm
- | Joined Dec 2014 | Status: Trader | 1,026 Posts
Positive anything is better than negative thinking.- Elbert Hubbard
- #5,215
- Jul 5, 2015 2:52pm Jul 5, 2015 2:52pm
- | Joined Mar 2014 | Status: Trader | 1,228 Posts
{quote} sorry my autocorrect on my phone. Yea i took a long position just now. With 50 pip stop loss. EU. ��:-)
No worries.
I took the same long just a few minutes ago.And wouldn't you know it... now my MT4 connection is being dodgy, dropping in / out.
- #5,217
- Jul 5, 2015 3:09pm Jul 5, 2015 3:09pm
- | Joined Dec 2014 | Status: Trader | 1,026 Posts
{quote} No worries.
Positive anything is better than negative thinking.- Elbert Hubbard
- #5,219
- Jul 5, 2015 3:19pm Jul 5, 2015 3:19pm
- | Joined Dec 2014 | Status: Trader | 1,026 Posts
Positive anything is better than negative thinking.- Elbert Hubbard