I all most got out of that trade when it was close to being down 10pips. Since it had failed to breakout four times previously. But the GBP has been in a down tend so strong I held on a bit longer and then it took off to the down side. If I had gotten out I would have gotten back in when it took off. Just would book smaller profit.
- | Joined Jun 2010 | Status: Member | 334 Posts
tnx RP,
totally could of reenter on these points but decided to play it safer...
totally could of reenter on these points but decided to play it safer...
To many different systems I have tried and failed. Going to try master this one in my capability because something makes finally some sense to me. Only two trades today because was away from the monitor too many times as well as being afraid to press the button 
hopefully at some stage the fright will go away itself. Cheers for this wonderful system as well as patience with us newbies 
hopefully at some stage the fright will go away itself. Cheers for this wonderful system as well as patience with us newbies 
The only thing that will make us successful is if we can control ourselves!
can you share your template and indicators (with mauro_tralling) thx 
To many different systems I have tried and failed. Going to try master this one in my capability because something makes finally some sense to me. Only two trades today because was away from the monitor too many times as well as being afraid to press the button
Hi Pabuu, Nice Trade. The most common mistake newbies make is the constant jumping from system to system. There are lots of workable systems out there, but you always need to execute them with discipline and they must suit your personality. For instance I know lots of systems for 4 hr. charts but if I trade them I lose, because its too slow for my personality/psychology. Also when learning a system people get discouraged too easily ie. "I demo traded for 2 months and had a win rate of 85% as soon as I switched to live trading its 40% this system...
I did try many various systems starting from 1min tf and trying to scalp few pips, 4h tf which was wrecking my head and waiting for action, not even talking about 40-60 pip sl which was just nerve wrecking, basket trading which is very interesting but can make you lose all your money very fast if you lack experience, discipline and patience (I don't mind to wait few hours for a set up, trade 3-4 get my daily share and relax) to see the result, check the charts every few minutes throughout a day and in the end having no time for yourself in the end.
My winning ratio is still low and I am fully aware that I need more experience and be more patient but well we all had to start somewhere and I hope I will but all of us who want to be profitable trading will get there by studying hard and sticking to one idea which we will perfect in our own ways.
BTW I have set up a demo account in TOS because there is a big difference how data is shown (or I am getting blind ) by mt4 and Ichimoku indicators. So I will be looking for a set up in TOS and play in mt4
The only thing that will make us successful is if we can control ourselves!