FDE30 +30 +19 second trade probably I should keep little longer...
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- #3,042
- Aug 24, 2015 3:58am Aug 24, 2015 3:58am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
{quote} I posted a link to a book last week...Trade Mindfully...it deals with this stuff. 25 - 30 pages a day and you're done in a week. For me it was worth reading it...you should check it outdl.farachart.com/pdf/Trade-Mindfully.pdf
off course,I've already saved the page to my favorites!
English reading unfortunately it did not make my life easier, but it is for sure the next reading.
ah, I do not remember if I did it, but thanks for sharing that!!
nescentia necat
- #3,043
- Edited 4:18am Aug 24, 2015 4:04am | Edited 4:18am
{quote}
: ))The reading is not that difficult, of course it's not kindergarten level but I think you'll be able to get the essence of it just fine. If you have problems understanding something PM me...I'll gladly help
EJ -3 / range bar chart
When I took this trade I branded it as "me being stupid", which at the time I was, because I entered looking at past price instead of present...but the entry would have been reasonable, had I made proper analysis.
So, just for the sake of it...in hindsight sadly...here's the analysis I should have done...
Price hit the 20 - 25 area and started channeling up. It broke the channel down but it didn't move immediately. Strong move down into the SR level, followed by equally strong move up; things could have developed into a bullish move here if price would have shown willingness to move higher (HH, HL, 50-62 fib retracements, BREAK of previous high from which price made a new low). However, price started trading in a small range that was followed by a lower small range which leads me to believe that either there is no one in the market and price is sleeping or there is a squeeze on price and it will break soon. "Most ranges break out in the direction of the trend - Al Brooks". This was no exception and the signals were there. Either trade the breakout or trade the top limit of the triangle.
When I took this trade I branded it as "me being stupid", which at the time I was, because I entered looking at past price instead of present...but the entry would have been reasonable, had I made proper analysis.
So, just for the sake of it...in hindsight sadly...here's the analysis I should have done...
Price hit the 20 - 25 area and started channeling up. It broke the channel down but it didn't move immediately. Strong move down into the SR level, followed by equally strong move up; things could have developed into a bullish move here if price would have shown willingness to move higher (HH, HL, 50-62 fib retracements, BREAK of previous high from which price made a new low). However, price started trading in a small range that was followed by a lower small range which leads me to believe that either there is no one in the market and price is sleeping or there is a squeeze on price and it will break soon. "Most ranges break out in the direction of the trend - Al Brooks". This was no exception and the signals were there. Either trade the breakout or trade the top limit of the triangle.
- #3,046
- Aug 24, 2015 4:36am Aug 24, 2015 4:36am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
- #3,047
- Edited 4:52am Aug 24, 2015 4:41am | Edited 4:52am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Price hit the 20 - 25 area and started channeling up. It broke the channel down but it didn't move immediately. Strong move down into the SR level, followed by equally strong move up; things could have developed into a bullish move here if price would have shown willingness to move higher (HH, HL, 50-62 fib retracements, BREAK of previous high from which price made a new low). However, price started trading in a small range that was followed by a lower small range which leads me to believe that either there is no one in the market and price is sleeping...
Thanks, that is what we can do with here, seriously. The Good, The Bad and The Ugly trades.
It was my losing trades that taught me not to keep poking myself in the eye every time I entered a trade, eventually, it took some time, I managed to get rid of the habit of poking myself in the eye just prior to an entry and things improved dramatically.
Cut your Losers short and let your Winners run.
- #3,048
- Aug 24, 2015 4:49am Aug 24, 2015 4:49am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
{quote} It doesnt surprice me 10020-150 today...or if it doesnt happens ....9600... {image}
nescentia necat
- #3,049
- Edited 5:41am Aug 24, 2015 4:53am | Edited 5:41am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
dax pullback +60 +26 +10
too fast on that 9600
edit: long again +40
buy gbpnzd out again for +20
too fast on that 9600
edit: long again +40
buy gbpnzd out again for +20
nescentia necat
{quote} Thanks, that is what we can do with here, seriously. The Good, The Bad and The Ugly trades. It was my losing trades that taught me not to keep poking myself in the eye every time I entered a trade, eventually, it took some time, I managed to get rid of the habit of poking myself in the eye just prior to an entry and things improved dramatically.
No one likes being wrong...but losing is part of the business. I see unavoidable losses as expenses and I see mistakes as opportunities to learn.
{quote}Now that is really Spooky, that is exactly what I was going to say, word for word.
Why?That's 3rd trade which didn't make it... I really thought this one will be 127 fib :X Start to think it's better to take what I have and go..:X Another story from 45 pips to Zero... {image}
If you read through previous posts, around the beginning of the thread Dee said that the TDI indicator does not work well with renkos; Dee has experience with trading the TDI (look through his posting history...) so I would listen to him. Compare a TDI M15 chart with a TDI renko chart and you will see the difference. And all in all don't trade indicators, trade price...indis are just a piece of the puzzle.
Your entry was good a PB in a down move, however price already fell a lot; since I don't actively follow DAX I don't know how much a lot is for this trading instrument...however looking at the past days I can see that the move is very strong and it has only one white (upward) brick in it.
Your mistake was ignoring price giving you signals against your trade. The triangle with a upward break. Learn price and adapt when you see a clear sign of change.
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Hope this helps!
- #3,053
- Aug 24, 2015 6:03am Aug 24, 2015 6:03am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
{quote} Don't worry about thanking me...just send me a wine from Italy and we're squared
{quote}The reading is not that difficult, of course it's not kindergarten level but I think you'll be able to get the essence of it just fine. If you have problems understanding something PM me...I'll gladly help
thx again!
nescentia necat
- #3,054
- Aug 24, 2015 6:16am Aug 24, 2015 6:16am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
nescentia necat
- #3,055
- Edited 6:36am Aug 24, 2015 6:20am | Edited 6:36am
{quote} Price will do whatever it wants...the only control you have is over entries and exits. It is good that you did not take a loss. If you read through previous posts, around the beginning of the thread Dee said that the TDI indicator does not work well with renkos; Dee has experience with trading the TDI (look through his posting history...) so I would listen to him. Compare a TDI M15 chart with a TDI renko chart and you will see the difference. And all in all don't trade indicators, trade price...indis are just a piece of the puzzle. Your...
But back to trade. I monitored it at M1. So I noticed the triangle when it was kind of late. And didn't have the guts and emotions to countertrade after that... About TDI I use it for RSI. Which shows me more divergences at least I can notice it more.. On the other hand it's not win sometimes.. SO I'll have to think about it..
GE30 +20 + 50 I know My entries sucks :X
sell dax +97+30 oooo i love this game!!!! {image}
Btw. ANyone know what's going on? DAX droppin like a bomb and EURUSD opposite. Does this thing do have anything in common with China?
OK 100pips in 1 minute is too risky for me..:X
OK, DAX +60 today with scalping, but my t-shirt is totally wet. Time to search different strategy I was trying do it like MisterC with triangels, but there are a lot of false signals if you trade like me, clean price action without indicators.
Friska, I like to learn more about your trading style from your last picture - can you describe the rules of that entries please ?
I was trying do it like MisterC with triangels, but there are a lot of false signals if you trade like me, clean price action without indicators. Friska, I like to learn more about your trading style from your last picture - can you describe the rules of that entries please ?
- #3,057
- Aug 24, 2015 6:35am Aug 24, 2015 6:35am
- | Joined Nov 2014 | Status: Trader | 1,189 Posts
{quote} GE30 +20 + 50 I know My entries sucks :X {quote} {image}
I do not think that these pip sucks!
good job! keep it going!
nescentia necat
- #3,058
- Edited 7:52am Aug 24, 2015 6:45am | Edited 7:52am
{quote} Thank you MisterC for explanation. I really appreciate it. I made mistakes and yes I'm glad when it doesn't cost me anything. But on the other hand.. I regret a lot of trades I took or didn't take... Since I have problems with emotions not only in trading and to be honest I'm not psychologically ok lately. I know it's not great to trade in this condition. But I have to. So I really have to read the book you reccomended me.. hope I'll make it. Since you probably noticed.
. There are two things to do: learn price, spend hours in front of charts and study price movement and SIMULATE, SIMULATE, SIMULATE..use the F12 key or a renko simulator: this will give you confidence (but don't let it get to your head );. The other thing you can do is work with your ego and fear...meditation is a good asset and self evaluation as well. Of course to self evaluate self you need knowledge. Myself, I gathered it by reading stuff about psychology, emotional balance, self awareness. I can not help you on this side just give you some guidelines. Learn to become more self aware, accept what is and take responsibility for self, be present (learn from past, make your future, but be present), be the observer of self (don't fight fear and anger...rather observe them and try to distance self). It's a process but meditation and knowledge about self are key. Gather knowledge and compare your present situation to it...you will be able to identify where work needs to be done.Sources of knowledge:
Working with the subconscious mind is extremely useful...basically your subconscious controls a large part of what you do daily and it overwhelms the conscious easily; it's easy to consciously say: I will be a calm trader and when you trade excitement, fear, anger etc. comes from the subconscious mind. But the good thing is that you can work with self and achieve balance. Don't bother with the classic idea of Law of attraction and stuff like that because it is BULLSHIT!! Just thinking something won't make it happen...but achieving the right mindset (conscious / unconscious) will make you ready to get what you want; that's how you "attract"...you get your mindset in a place where achieving your goals is possible
There is a book "The Genie Within Your subconscious mind" that is pretty good and easy to read...you can probably find it in your language. "Joseph Murphy - The power of subconscious mind" is another good one.
This video has some good info on the subject aswell:
Inserted Video
and another one that deals with the same subject but in a broader way, here: https://www.youtube.com/user/midlifemaverick . I reccomend you start with the videos from the Mind Power channel.Also read stuff about self discipline, HABITS, will power: "Unleash The warrior Within - Richard Mackowitz"..I really like this book.
You can find the books on the internet. If you have emotional problems (and don't worry, that does not mean being crazy
) it will be a process of self discovery and correcting / getting read of toxic stuff from your mind. It took me a while to do it but at this point I am much more balanced. You will learn to keep your personal stuff away from trading...after all this is business.Lastly, I am sorry if this post seems like I am just throwing words at you: do that, read this, be like this....the thing is that it would be easier for me to talk about a chart than talk about stuff like this. Don't think that I am looking at you from "above" trying to tell you get your shit together...that's not the message here
.The materials will give you some knowledge but you'll have to put it to work; because you are in control, your are responsible, etc
. So...to sum up: go through Colin Hiles stuff (look at all his vids, they are good), read about subconscious and about self discipline, habits, etc. You basically need reprogramming and you can do it when you have the knowledge! 
Hope this helps!
- #3,059
- Aug 24, 2015 7:51am Aug 24, 2015 7:51am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
