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Discovering An Edge

  • #461
  • Jul 7, 2015 1:41am Jul 7, 2015 1:41am
Short AU .7440
  • #462
  • Jul 7, 2015 1:43am Jul 7, 2015 1:43am
target is .7415 just above 10 d ATR....
  • #463
  • Jul 7, 2015 1:46am Jul 7, 2015 1:46am
short AJ at 91.28 T 90.90 10 d ATR low
  • #464
  • Jul 7, 2015 2:03am Jul 7, 2015 2:03am
Quoting panamamike
Short AU .7440
Great minds! Short @ 7440.6 Lol, my target is just 20 pips!
A pip is only worth it if you know how much you risked to earn it
  • #465
  • Jul 7, 2015 2:06am Jul 7, 2015 2:06am
Quoting panamamike
short AJ at 91.28 T 90.90 10 d ATR low
Nice work on this one. I Missed the boat.
A pip is only worth it if you know how much you risked to earn it
  • #466
  • Jul 7, 2015 2:08am Jul 7, 2015 2:08am
Quoting vlady1974
{quote} Great minds! Short @ 7440.6 Lol, my target is just 20 pips!
Great trades mate. Closed my aud shorts because i entered late and wasnt comfortable with breaking my rules. Nice
  • #467
  • Jul 7, 2015 2:19am Jul 7, 2015 2:19am
Quoting ephisi
{quote} Mate im proud of you. You trading has evolved in this past few 2weeks. Congratulations. You discovered an edge. I wish people will just do the work. A friend of mine in Nigeria is keeping malice with me because i refused to spoonfeed him. I gave him links to all the threads where he could learn. He came back to tell me he didnt discover anything after a month. If only he knew it took me 2yrs get an edge. Thats after 6years of trying. Totalling 8yrs.
Unfortunately trading is one of those disciplines like martial arts, performance arts or even sculpture and painting where there is a definitive science to a method. Those who graduate to mastery are those that discover that you can't keep copying someone else expecting to become like them. Trading, like these arts, is ultimately about self expression thrust against the world to elicit a reaction... As such it is a reflection of something quite personal to us in that we trade our opinions about a certain instrument and then the market, our audience, either applauds or throws tomatoes and cabbage at us. Your path and my path are similar, but different - different because of who we are and where we come from reflected in our fears and desires translated into our trading styles; similar because we recognise the path of apprenticeship and trial/error and discovery of false positives and holy grails and that it IS THE PATH that creates skill, determination and resolve. These are difficult things to impart and teach to others and so you can only accept the peace that you have done what you can on your friend's journey to becoming a trader - or not.
A pip is only worth it if you know how much you risked to earn it
  • #468
  • Jul 7, 2015 2:38am Jul 7, 2015 2:38am
Quoting vlady1974
{quote} Great minds! Short @ 7440.6 Lol, my target is just 20 pips!
Stopped out BE
A pip is only worth it if you know how much you risked to earn it
  • #469
  • Edited 3:08am Jul 7, 2015 2:46am | Edited 3:08am
Was just talking to my girlfriend about my long response above and we got to talking about Stop Losses and also Losing Trades. I said to her that one of biggest hurdles is admitting that I am wrong and therefore that hurts when closing a losing trade early....especially when I think I am right.

Because we do indoor rock climbing she said it was very similar to training yourself to actually fall so that you know what it's like....there are times when it is safer to take fall and get caught by the harness. She said that they used to train by just climbing a good move towards target then just falling. She then suggested that I should just mechanically close my trades that were in the money. To my surprise, my reaction was "why in the hell would I do that?" - quite emotional!! She said that's the same mechanics unemotional requirement when closing trades early.

Wow! This is different from SL setting, this is to do with closing trades when you can see you're wrong but you can't. So I closed my EU and UC trades...after much resistance and re-entered. But it's another bit of self discovery!
A pip is only worth it if you know how much you risked to earn it
  • #470
  • Jul 7, 2015 2:53am Jul 7, 2015 2:53am
Quoting vlady1974
{quote} Unfortunately trading is one of those disciplines like martial arts, performance arts or even sculpture and painting where there is a definitive science to a method. Those who graduate to mastery are those that discover that you can't keep copying someone else expecting to become like them. Trading, like these arts, is ultimately about self expression thrust against the world to elicit a reaction... As such it is a reflection of something quite personal to us in that we trade our opinions about a certain instrument and then the market, our...
Youre so right mate
  • #471
  • Jul 7, 2015 3:09am Jul 7, 2015 3:09am
Re-entered Short EU, avg 10976.8
A pip is only worth it if you know how much you risked to earn it
  • #472
  • Jul 7, 2015 3:09am Jul 7, 2015 3:09am
my SL are set prettying wide.....I only close trades mechanically by TS/JS, when target is hit, or signal breaks down...I.e. Is proven wrong. The market does not go in straight lines, thus some draw down is inevitable. I do not get emotional ..... I believe in my system as it has proven itself over hundreds and thousands of trades across different market conditions. I do not try to avoid losses.....they happen, move on. If the signal is still valid, I do not close a trade that is in draw down....however, when the signal is no longer valid, I close and do not "hope/wait for a better price".
I never ever ever add to a losing position. I do not leave trades open during numbers, and I only trade the strong vs the weak.
  • #473
  • Jul 7, 2015 3:15am Jul 7, 2015 3:15am
AJ close half at 91.01 +27 SL moved to +10
  • #474
  • Jul 7, 2015 3:16am Jul 7, 2015 3:16am
AU 1/2 off +10
  • #475
  • Jul 7, 2015 3:20am Jul 7, 2015 3:20am
AJ Target hit +37 second half
  • #476
  • Jul 7, 2015 3:21am Jul 7, 2015 3:21am
AU target hit +25 second half
  • #477
  • Jul 7, 2015 3:22am Jul 7, 2015 3:22am
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-07-07 05_19_32-EURUSD,H4.png Size: 166 KB
  • #478
  • Jul 7, 2015 3:25am Jul 7, 2015 3:25am
Quoting panamamike
AJ Target hit +37 second half
Awesome trades! My AU SL was moved too quickly. Target (7425.5) was hit as well as the alternate (7420).
A pip is only worth it if you know how much you risked to earn it
  • #479
  • Jul 7, 2015 3:27am Jul 7, 2015 3:27am
I have missed all of the GBP shorts vs Usd and JPy...oh well....
  • #480
  • Jul 7, 2015 3:31am Jul 7, 2015 3:31am
Usdcad is on steriods, i wish jpy owuld weaken so that usdjpy can rally
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