EURUSD

Looking @ possible rejection of 0760 max as part of move down.
0848/78 If the move to top is incomplete.

Looks like we're eying at the same rejection area- neat.

Reached 0750, slowly creeping North!

Damnit.. got stopped out at 1.0710... going to try another long here with tighter sl.

Buy Eur/Usd at 1.0750 TP : 1.0820 SL : 1.0742

still long E. SL at 1.07 39 pretty tight now...

Long the $JY at 111.70 SL 111.50

Be careful. . . . crew...

i wonder how difficult it is to just TP 3 pips every day? - i do it for fun with xm and the spread is 1.7/1.8 on EU.. i could make it so much easier

no stop loss with occasional draw-down ...

i mean really as long as you don't majorly over leverage... you can almost place a trade anywhere with a 3pip tp and it would be profitable... avoid breakouts etc, if you trade all day then whats the issue?

i mean the chances of me missing out on 1.3 pips and it dropping 100 from here are like what?

it seems way too easy...

0.5% in 3 pips 10 times a day..

seems WAY too easy

i will reach 200 pips today

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Soooo what's new RB around, all normal. :-0
Abnormal - Draghi blabber didn't push down.....:~~}
So conclusion - drop tomorrow or Wednesday, depending where it goes. 0805 likely tomorrow
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Jusstin, you still long outside Mexico ?? Good.
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Good stuff Don. ✌
Market is so crazy that 4 pips you get with eyes closed
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I'm waiting to become full-time €‹

E. toping out and $JY bottoming out...??? Not far from here ...??? 1.07 53 + 111. 62 ...

those spreads are such an issue...

"Everything great... ...must first wear hideous and monstrous masks... ...in order to inscribe themselves on the hearts of humanity."
- Zombie Strippers

This post dedicated to Don and anyone who's sick of hearing how good I am.

Lessons in defeat

I came back to trading last wed with 20$ in micro account, doubled it in 290 pip 24 hour all nighter. THU woke up feeling like hell, super depressed feeling when I woke up at 5pm and the mistake spiral began with:

Haste makes waste

Hasty trade on GU after 1 minute analysis

Fear
A gold long I closed, that was going south and it came back.

Details
Euro slipping off level for NFP. After all the ranting and raving about news 30 pip wobble and how NFP is no big deal, I forgot to set the safety zone under entry. I was busy ranting in the forum how it doesn't effect me and then got my ass handed to me 3 times by it. I may have actually closed manually and....

Frustration
Got short. right before it went up into the extension back up.

Now I've saved my last shot today for the big gold swing here, something I felt more sure of target (50% of the preceding down move).

Fear of missing out
Gold reversal expected at 1229.84 I entered 44 points below target, it's popped up 55 pips over target! My margin alarm triggered position closed. GAME OVER! I hadn't done any checking of that reversal levels for days, either just going off top of my head from last weeks analysis add some fear of the past missed level. Every time I identify a gold apex leading to big move.. (3rd time now if this comes down), somethings gone wrong (me). The first time price missed my entry by ten points. The last time was like this, blow out right before the move.

Mistakes
Trading overnight, not waiting till the morning picture, buying the damn weekend dips. Fear of missing out, Second guessing myself, not sticking to the plan, forgetting details, trying to track every move in 5 degrees on multiple pairs, over caution, not getting enough outdoor time, Keep closing good trades when negative. Not trusting levels. I have problem with the little details.

Greed
As soon as I get into the swing I get greedy and double up lot sizes, and mistakes are magnified and the spiral begins and a week of great work is wiped out in a few bad decisions.

Screen breaks
I tend to stick to the screen and become blind. When I take time out and come back, laser focus. The more I watch the charts the less I see.
The great system is only as good as the equilibrium of the person interpreting it.

Homework
I recall the many frustrations of the past and the majority is me missing little details. Checking levels, Counting wave's. Wave characteristics, slippage zones.

I've got some work to do, to eliminate avoidable mistakes that are killing a really good situation. I have to create a proper easy reference guide for my system to keep track of details at each stage. Right now going off the top of my head and missing details. I have fear of leaving my system out in the open lol. I rarely look at it. I'm noting the kind of problems I'm having at certain stages of the cycle and develop coping strategies.

I miss the big investment demo, where I was insulated from lower turbulence with wider stops..

I was bragging how I make 300% regular lol, I do. Forgot the part about loosing it opposite weeks. Gave Don a hard time for his Asia / Brexit disaster, didn't mention I nuked myself that week to.

The previous Deposit about month ago small micro deposit

Week one Monday to friday +300%

WEEKEND!
I sold then bought the damn weekend dip overloaded -300%

Week2
Buying again and go up 300%

Weekend!
I sold near the top of GU when it topped but got stopped as it went bit 30p higher and I left it alone. It came down hundreds.
Later I tried to buy a support that fell through, massive hit left me up 150%

Now I was demoralized and frustrated..

Flip flop time..

Week 3
My ultimate target was way higher, I'd convinced myself we just made support and we're at a buy zone but there was some debate about such high support. I placed a buy, my stop was to low! Well it got clipped out and then it went up!

Details
My mind was scrambled and I had to go out to the city. I'm checking in from my cell phone. I began selling and buying frantically with small stops and getting burned, every move I'm making is now reversing sometimes instantly spiking and killing, I was in a tail spin.

In the end, I'm down to my last micro lot and we're close to my upper target (the big kahoni), and she's looking weak as hell already. I can see it's not going to make it and place my last micro lot and prey. Next morning it's ran 100 points and I'm like braggin all up in the interwebs from my mobile, set stop to break even and plan my comeback. It wasn't the big Kahoni.

Come home that night and wham stop be and now it's at my upper target. How the hell did I not see that coming! Bombs away with the last lot again!

And it looked like there was more upside but I held from my level and....

It went higher stopped me out and then dropped. I looked at the fib story again and my target was higher up. I had failed to check that detail!

Places good and bad trades on the chart, takes notes, writes essay on how I fucked up this time. Analyze the problem areas and develop coping strategies.


Over ordering
Not resting
No screen breaks
Trading overnight
Scared to wait for better set up for fear of missing out
Not checking details
Not counting waves
Not checking overall structure
Repeating same mistakes
Not trusting levels
Outside distractions
And this is how it's gonna be until I can eliminate my mistakes, stop missing the details and insulate myself from interpretation errors and polish up my system with clear references. I'm out. I won't be able to deposit for a while. I'm just kicking the living shit out of things here until the pain in my foot drowns out the frustration...


Remove emotion, remove emotion
Don't let mistakes discourage you
Remember Everything, don't repeat

Used to take 50k in losses to learn the market, I'm at $4000 and have made and given back 10K in micro profits as I'm developing the system.

The great suthmo is still the great suthNO

Sounds a LOT like my story...
I may look like a rookie, but a simple glance at my join date will let you know ive been looking at EUR USD for a decade.
Have had my good and bads.

There were weeks where I thought I was invincible. I'd double and triple my account on occasion and take a trip to vegas on a whim

Id spend $500+ at the club... come home, and make it back the SAME NIGHT!

Got my ass handed to me right about the last major recession. the charts wouldn't do what it always did.
My 100% winning strategy was DONE. Losts Tens of Thousands!!!

Well I have learnt a LOT, and I am back to trade with discipline and humility.

Money management and rules keep us in the game. It's crazy how we can be on that win streak, make a mistake and become completely unraveled. I think you need to find the groove again, it's there somewhere.

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Suthmo, I didn't giveyou enough credit. All these posts just masked a strong (yet chaotic) mind
We all make mistakes. It's human.
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You forgot reading the news.
Yes, i feel the same weaknesses. Can you believe i write down in my daily journal and ignore it!? What an idiot.
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Somehow I need better trading organisation, dedicated time, computer.
But I and we are getting there. Come and join the traders who made mistakes!!
We stumble or fall, then dust off and start again. Lessons learned....
Recognizing one's weakness is half way to winning.
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Green pips all!!!. Be patient.
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We trade, gathering weapons, wisdom and that one great virtue....

I remember you being on here back then. I think we all probably have the same story or similar stories. I used to trade with my wife at the time sunday open to about tuesday and make anywhere from 2-4k and my wife would tell me to stop and enjoy the week and i always lied to her and said i did but i got caught in overtrading and would end up losing more by chasing that 10k a week. after i got burnt out i had stopped for 3 years then jumped back in. I had many winners and a few bad losers and then i got burnt out again when Interbank sent me a letter to tell me the rules have now changed and its FIFO.
Now im back for a 3rd try and hopefully i dont make the same mistakes i did before. I started last monday and did a 10% increase in account by friday so i think thats where im going to set my mark at for now instead of trying to double or triple every week

and then there are real rookies like me wiping out entire demo accounts wondering how i can constantly win small amounts then one reversal costs me 80% of the whole account xD

This quote from you should be considered gold to all new traders and even yourself. I've made all these mistakes myself. When you recognize them and make changes in your trading and in your lifestyle, the sky is the limit. Never stop learning and bettering yourself.

Anyone trading or just bla-bla, crying, complaining, consulting, advising? looser advising looser!Really?...That is terrible combination.

in trade EURUSD and AUDUSD.
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Here is shaved crystal ball on someone's request:


Thank you longs for supporting my shorts

Definitely these seem to be the classic mistakes we all fall victim to and new traders would be wise to take note. It's all about overcoming yourself. A master trader must first master himself.

Cheers It's crazy how easily we forget our mistakes and repeat them. I think if I put my DO NOT list out (needs update) and it was right in my face, I would still make the mistakes. I still don't have the rules list out at my desk, I don't have my system guide out and I spend to long watching current price action and chatting with u guys instead of thinking what's next or what I need to check at this time. I just have a problem with little details cause I'm a raging bull. You didn't see a humble suthmo yet, only the egotistical know it all. There's a level head in here somewhere haha. Just needed the right kick in the butt to bring it out. Don't get me started on the NEWS haha.

I've got to write my review update for the the middle of the Elliot Wave a comprehensive course book. I'm comparing EWP to my system. This is the first time anything has come close to compare it to? It's giving me ideas of a framework, how to lay out my system in a course. Right now EWP looks to be and the book even says "it's an idealized concept that later may be corrected". I'm getting the feeling EWP is the Fibonacci side of the equation. It's clash of the titans. If the market is ruled by combination of Fib and Phi and maybe my work relates to the Phi side where his relates to the fib side. It's an epic journey of discovery and I would really like some other brains on the discovery team. Some of this is going over my shaven head.

I need to turn my whole work into a reference style for purpose of transmitting it to others and for my own reference because I miss all the details.
I'm about halfway through a full review of every detail, and discovery in the system from start to finish and writing the story of the discoveries as they happened and how It got to be what it is. It's important to think about what it took to get there.

This is heavy doc!