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Highest Open / Lowest Open Trade

  • #301
  • May 16, 2016 12:13pm May 16, 2016 12:13pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #302
  • May 16, 2016 12:14pm May 16, 2016 12:14pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #303
  • May 16, 2016 12:17pm May 16, 2016 12:17pm
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STOP SET.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #304
  • May 16, 2016 12:19pm May 16, 2016 12:19pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #305
  • May 16, 2016 12:20pm May 16, 2016 12:20pm
Quoting Habo
{quote} Here comes that most provocative question a learning trader can ask: Do you stop trading when you have > 5 pips for the day? That means I should have stopped trading after my second trade this morning.
Would stopping out 5 - 10 times at BE+1 be acceptable?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #306
  • May 16, 2016 12:20pm May 16, 2016 12:20pm
Is the GBP/USD Looking for a reversal? Has anyone entered yet?
  • #307
  • May 16, 2016 12:21pm May 16, 2016 12:21pm
Mr. Slow,

thank you for your time and effort to teach share with us. I will close out with +7 pips today (Yeah).

Back tomorrow.
  • #308
  • May 16, 2016 12:22pm May 16, 2016 12:22pm
Quoting TooSlow
{quote} Would stopping out 5 - 10 times at BE+1 be acceptable?
Absolutely!
  • #309
  • May 16, 2016 12:24pm May 16, 2016 12:24pm
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Who traded this one?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #310
  • May 16, 2016 12:30pm May 16, 2016 12:30pm
Quoting Habo
Mr. Slow, thank you for your time and effort to teach share with us. I will close out with +7 pips today (Yeah). Back tomorrow.
You are most welcome, Habo.
In reality, nothing has been taught.
Every trader here can mark the highest and lowest H1 open.
Every trader here can wait to enter at that mark.
Every trader here can place and move stop losses.
Other methods may require teaching and study but not this one.
I can not take credit for anything other than sharing charts.
But thank you for participating.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #311
  • May 16, 2016 12:34pm May 16, 2016 12:34pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #312
  • May 16, 2016 12:36pm May 16, 2016 12:36pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #313
  • May 16, 2016 12:55pm May 16, 2016 12:55pm
Quoting TooSlow
{image} Who traded this one?
++++++++++++++++++++++++++++++++

Not I. 2 Entries on UCad only. Still in NzdUsd, and EurJpy.
  • #314
  • May 16, 2016 1:02pm May 16, 2016 1:02pm
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Another second chance.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #315
  • May 16, 2016 1:05pm May 16, 2016 1:05pm
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++++++++ Not I. 2 Entries on UCad only. Still in NzdUsd, and EurJpy.
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Looking good
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #316
  • May 16, 2016 1:08pm May 16, 2016 1:08pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #317
  • May 16, 2016 1:08pm May 16, 2016 1:08pm
Stopped out BE on GBP/USD :/ crap
  • #318
  • May 16, 2016 1:13pm May 16, 2016 1:13pm
Quoting diamonddbw
{quote} ++++++++++++++++++++++++++++++++ Not I. 2 Entries on UCad only. Still in NzdUsd, and EurJpy.
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diamonddbw:

Did you bank your pips?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #319
  • May 16, 2016 1:20pm May 16, 2016 1:20pm
Quoting wannalearn12
Stopped out BE on GBP/USD :/ crap
Be happy.
You did not lose.

Did you read the article?


Let’s take a look at the two main reasons why we sabotage ourselves
1.Unrealistic Expectations
2.No Work-Life-Balance

These two are the mothers of all psychological issues you have in your trading – impatience, anger, frustration, fear, anxiety and greed. They all stem from unrealistic expectations and being in a bad mindset from the get-go. Obviously, unrealistic expectations stem from false marketing and claims of people saying that they turned 1000$ into a million dollars and that you can do it, too. No, you can’t. Even if their claims were to be true, they are outliers! Why do you think you would be the next outlier? Are you that special? I bet not. First, you have to reach profitability in any way. Then you can think about how to monetize that profitability. But you can’t start trading with the goal to make a fortune out of nothing, no. Once profitable, you have a lot of choices – signal services, mentoring, managing money. This is how the real money in this industry is made, NOT in any other way. So your goal should be to become profitable. 10% ROI a year and you are world class. That should be your ultimate goal. But before that, your first goal should be to protect your money at all costs. A closer look at the emotions that sabotage us will reveal that they are all our very own creations, as all emotions are, by the way.

•Impatience arises because you want it all and you want it now. If you have to make 20% or more per month just to cover your costs or to reach your unrealistic expectations, this will lead you to overtrading, oversizing your positions, and forcing trades.

•Anger is a result of both unrealistic expectations and no work-life balance. If all your satisfaction or your self-valuation as a human being is derived from your results in trading, you will be on a constant roller coaster ride headed straight for hell. You need to find other things outside of trading to satisfy your need for achievements.

•Frustration will get you even when you are profitable – because even though you are already better than 99% of traders, you are never satisfied because you cannot reach your monetary goals which are set way too high. This will lead to frustration and eventually to losing everything you made in the first place.

•Fear and anxiety will get the best of you because once you hit a losing streak, which is perfectly normal in trading, as we are in a game of probabilities, you will become worried about putting on another position as you think you are going to lose the next trade as well, anyway. This fear comes from not understanding expected value and not having a longer term view of things. Of course, if you have monetary goals, every trade you lose will steer you away from that goal. But losses are inevitable. Anxiety, on the other hand, will strike after a winning streak. You feel that somehow you finally “made it”, and that the next trade could be a loser and destroy your dreams once again. But the next loser will come, of course. You have to accept losses as part of the game. You absolutely have to.

•Greed also stems from having unrealistic expectations towards your trading, causing you to take on too many positions, too big positions, holding them too long, widening your take profits, and so on. A bad work-life-balance, where your happiness is derived from how much money you have on your bank account, will nurture this emotion as well.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #320
  • May 16, 2016 1:23pm May 16, 2016 1:23pm
Too Slow, do you trade in your own thread everyday? I've learned a lot from watching your threads.
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