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Become a sheep?

  • #1
  • First Post: Edited 5:10pm Jan 6, 2017 4:24pm | Edited 5:10pm
Hello All,

Rules:

  1. Keep it clean.
  2. Haters... hate the game, not the player.
  3. If you have nothing constructive to say... then kindly move on.

Finally:

  1. I'll probably blow the account, I know... but I am trying not to.
  2. I'll probably delete the thread if it gets too much... but I will try not to.

Account Age date of this post:

  1. Less than 1 month


Is it about...

becoming a sheep and just following and trading the strongest and weakest pair and not over trading?

I did over trade to get the account to where it is today and over leveraged but most importantly... cut my losses when the market moved against me. I am trying to keep it simple.

Let's see what happens on Monday and see if I can keep this up.

Regards!

  • #2
  • Jan 6, 2017 5:25pm Jan 6, 2017 5:25pm
So the plan on Monday is to most likely trade, USD/JPY.

We will look to short USD/JPY as it is still showing overall weak compared to JPY (daily strength)

I will check on Monday for the hourly strength as well and see where we are for the hourly and might also end up trading another pair.

USD
Attached Image


JPY
Attached Image
  • #3
  • Jan 6, 2017 10:40pm Jan 6, 2017 10:40pm
Quoting guess121
Hello All, Rules: Keep it clean. Haters... hate the game, not the player. If you have nothing constructive to say... then kindly move on. Finally: I'll probably blow the account, I know... but I am trying not to. I'll probably delete the thread if it gets too much... but I will try not to. Account Age date of this post: Less than 1 month Is it about... becoming a sheep and just following and trading the strongest and weakest pair and not over trading? I did over trade to get the account to where it is today and over leveraged but most importantly......
Hello Guess121,

Thanks for opening the thread. Looking at the results, it is a one wild ride. How do you handle the stress? Are there any rituals or frame of mind you use to protect your emotional health?

Please keep posting the charts and thanks for the effort...

Have a great 2017...
  • #4
  • Jan 6, 2017 11:11pm Jan 6, 2017 11:11pm
why don't you make youtube videos of your trading journal? Do a daily analysis or something
  • #5
  • Jan 7, 2017 12:06am Jan 7, 2017 12:06am
guess121, Please may i see your chart as sample , Maybe i will follow u ,
  • #6
  • Jan 7, 2017 4:48am Jan 7, 2017 4:48am
Look promising. Subscribed. Keep posting the chart.
Risk comes from not knowing what you're doing.
  • #7
  • Jan 8, 2017 11:10am Jan 8, 2017 11:10am
Thanks... if I am honest.. has been a little intense, however I don't tend to trade too much to be honest.

I will try and post charts to show you guys what I am doing.

Quoting aaven
{quote} Hello Guess121, Thanks for opening the thread. Looking at the results, it is a one wild ride. How do you handle the stress? Are there any rituals or frame of mind you use to protect your emotional health? Please keep posting the charts and thanks for the effort... Have a great 2017...
  • #8
  • Jan 8, 2017 11:11am Jan 8, 2017 11:11am
It's too much work at the moment and I cannot do this yet... maybe one for the future.

Quoting ndt113
why don't you make youtube videos of your trading journal? Do a daily analysis or something
  • #9
  • Jan 8, 2017 11:12am Jan 8, 2017 11:12am
I will post some live trades, will be better.

Try and do this tomorrow and see where we are.

Quoting terminator12
guess121, Please may i see your chart as sample , Maybe i will follow u ,
  • #10
  • Jan 8, 2017 11:26am Jan 8, 2017 11:26am
You have to battle your demons when trading... most important thing is capital preservation! It is better not to trade than to be in a bad trade. You want to live to see the next day.

There are times when I stare at the charts and nothing makes sense to me, this is when I know I need to stop trading and this is when most of my mistakes were made.

I'm not going to teach you how to suck eggs... maybe a better way to suck them.

The most important thing for me is to ensure I am in the right direction.
  • #11
  • Jan 8, 2017 12:51pm Jan 8, 2017 12:51pm
Quoting guess121
You have to battle your demons when trading... most important thing is capital preservation! It is better not to trade than to be in a bad trade. You want to live to see the next day. There are times when I stare at the charts and nothing makes sense to me, this is when I know I need to stop trading and this is when most of my mistakes were made. I'm not going to teach you how to suck eggs... maybe a better way to suck them. The most important thing for me is to ensure I am in the right direction.
  • #12
  • Jan 9, 2017 2:12am Jan 9, 2017 2:12am
Today I will look to short USD/CAD

Quoting guess121
So the plan on Monday is to most likely trade, USD/JPY. We will look to short USD/JPY as it is still showing overall weak compared to JPY (daily strength) I will check on Monday for the hourly strength as well and see where we are for the hourly and might also end up trading another pair. USD Screenshot1.png;2129548 JPY Screenshot2.png;2129549 {image} {image}
  • #13
  • Jan 9, 2017 4:15am Jan 9, 2017 4:15am
Quoting guess121
Today I will look to short USD/CAD {quote}
Pay attention to Crude, Dollar index and Gold though.... money flows... nice trades so far.
  • #14
  • Jan 9, 2017 5:05am Jan 9, 2017 5:05am
Thanks... I am watching multi currencies, however not other instruments.

The Indie I built is around most major/minor pairs - this takes the guessing game out.

Quoting LITEchild
{quote} Pay attention to Crude, Dollar index and Gold though.... money flows... nice trades so far.
  • #15
  • Jan 9, 2017 5:22am Jan 9, 2017 5:22am
Quoting guess121
Thanks... I am watching multi currencies, however not other instruments. The Indie I built is around most major/minor pairs - this takes the guessing game out. {quote}
Oil has a negative correlation with USD/CAD of about 93% between 2000 through 2016... 93%!
Also... the Dollar Index is a key indicator for the direction of the USD.

This might help with TIMING entries and exits to whatever setups your strategy throws up...
  • #16
  • Jan 9, 2017 5:52am Jan 9, 2017 5:52am
Ahh ok thanks for that... I look at Dollar strength against most pairs... at the moment it is weak.

You also given me an idea... I will add correlation into the strategy as well and give me a bit more confidence about direction, nothing is ever 100%, but you need some edge/confidence.

Quoting LITEchild
{quote} Oil has a negative correlation with USD/CAD of about 93% between 2000 through 2016... 93%! Also... the Dollar Index is a key indicator for the direction of the USD. This might help with TIMING entries and exits to whatever setups your strategy throws up...
  • #17
  • Jan 9, 2017 6:09am Jan 9, 2017 6:09am
Quoting guess121
Ahh ok thanks for that... I look at Dollar strength against most pairs... at the moment it is weak. You also given me an idea...I will add correlation into the strategy as well and give me a bit more confidence about direction, nothing is ever 100%, but you need some edge/confidence. {quote}
  • #18
  • Jan 9, 2017 6:39am Jan 9, 2017 6:39am
Quoting LITEchild
{quote}
Also if I am wrong in a trade... I am wrong... got to cut losses and move onto next trade
  • #19
  • Last Post: Jan 9, 2017 9:46am Jan 9, 2017 9:46am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 38 KB


Red areas where I shorted - should have stayed in this one! Grrr!
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