Watch the rise (or fall) of a trader gone naked -
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thread: Watch the rise (or fall) of a trader gone naked

  1. #11
    You do realise that both of these comments are contradictory. If you put a long trade as you believed the trend was upwards why on earth would you want to go brief straight off simply because you took a loss?

    What you should do is get straight back and see whether your initial trend decision was right. When it had been the following question would be? Could I've had my stop in the wrong place? Did I pick the to enter on? Did I jump the gun and exchange on anticipation rather than on evaluation?

    Accepting a loss is...
    as consistently very sound advise. . I learn from un pete. I guess that the moral is: when the trade is a loss, think about what went wrong and what u could have done to prevent this losing trade, only then can a trader develop and this is the journey one must undergo to become the trader

    good trading to u buddy beam

  2. #12
    You do realise that both of these remarks are contradictory. If you put a long trade because you believed the trend was upwards why on earth would you need to go brief straight away simply because you chose a loss?

    What you should do is get straight back and see whether your original trend decision was correct. When it was the following question would be; why did I choose a reduction? Could I have had my stop in the wrong loion? Can I pick the wrong candle/bar to enter on? Can I jump the gun and trade on anticipation rather than on evaluation?

    Taking a reduction...
    Thanks Peter! This is precisely the type of feedback I was expecting to get. Enjoyed the Boorstin quote. Kind of feels that it pretty much describes my career so far...

    The opposing position component is based on the assumption that the trend has really shifted, meaning my stop is put right on. And that the market has made a lower high and a lower low (as in this case on the daily).

    I am able to see your thread for sure. Thanks for the feedback.

  3. #13
    Thanks Peter! This is precisely the type of feedback I was hoping to get. Particularly enjoyed the Boorstin quote. Kind of feels it pretty much describes my career so far...

    The opposing position component is based on the assumption that the trend has really changed, meaning that my stop is put right on. And the market has made a lower high and a lower low (as in this case on the daily).

    I am able to read your thread for sure. Thank you for the feedback.

    Beam
    Most people around here the problem is getting me to shut the f**up!

    If you're likely to become a fad trader then the first issue is to ascertain in which you get in. For me personally I search for retracements to S/R. These you are going to have to determine for yourself but it is not difficult to workout. Just search for major areas and strive not to end up with a chart covered in flat lines and fashion lines (that I do not care for much, myself).

    Learn to select the center chunk of a range between S T for the time being, this will help prevent you trying to choose every top and bottom. As soon as you have a deal on S/R sit back and wait patiently for any signal type you generally trade by and trade just when you're as confident as possible the retracement is over. It takes some time to get a sense of price action around these points but after some time you'll develop a sense of the rhythm of the bars.

    Of course, it is going to mean that your stops will grow as you search for adequate S/R areas to hide your stops behind and this is where you're money management skills will improve as well. So, your normal position size will decrease. But if you're keeping to some sensible risk profile (1-2%) then the simple fact that you aren't getting stopped out thus frequently should balance this all out.

    Reading my ribbon is optional - there are no magic bullets in there! However there is at least one article that will permit you to see that making mistakes comes with the land, even if you sound as if you understand what you're discussing .

  4. #14
    Lost 150 218 pips this past week.

    But the future is looking bright because I have two exceptional advices in this thread!

    don't try to have every transaction setup, take A installments.
    And

    If you put a very long trade as you believed the trend was upwards why on earth do you need to go brief straight away only because you chose a loss?

    What you should do is get straight back and see whether your initial trend decision was correct. If it had been then the next question would be did I take a reduction? Could I've had my stop? Did I pick the wrong candle/bar to put in on? Did I jump the gun and trade expectation instead of on careful evaluation?

    Accepting a reduction a part of this game (as you know). The main problem when...
    The adjusted egy:With the trend. No indiors or trend lines. Just A installments are good enough. Daily charts. Start looking for higher highs/lows and reduced highs/lows to specify whether a true trend is about. Input immediately after a reversal bar has appeared (or in case of a fast moving continuation, at the prior high/low of this market). Majors (FX, commodities,...). Stops or monitoring stops at preceding trend high/low. After a losing trade, figure out exactly what went wrong before jumping in again.
    The main point is that I have to create my trading more boring...

  5. #15
    From the daily chart it's easy to tell that the market is heading north. There are currently signs of weakness.

    I won't do anything before I will see a clearer and better trend, however long it'll take to get there. In the mean time, I would love to search different majors to get A installments but we have just moved to a new apartment so things are a bit busy.

    Regards,


  6. #16
    Together with the trend. No indiors whatsoever. Just A setups are great enough. Daily charts. Look for greater highs/lows and reduced highs/lows to specify whether a true trend is around. Input according to price action. Here I shall use different approaches and patterns. Majors (forex, commodities,...). Stops or trailing stops at a great distance from preceding trend high/low. Following a losing commerce, figure out exactly what went wrong before jumping in again. Maximum risk of 5% in any 1 trade.
    Now, I am waiting for EURUSD to show me the cards...

  7. #17
    I am a bit entertained of myself that I am adjusting my egy all the time instead of investing... With the trend. No indiors at all. Only A setups are great enough. 1H into 1D charts. Start looking for higher highs/lows and reduced highs/lows to determine whether a true trend is around. Enter based on fad action. Here I shall use different approaches and patterns. Majors (Currency Market, commodities,...). EURUSD as a beginner, however, until I hit the promised land. Stops or monitoring stops at a good distance from preceding trend high/low. Following a losing trade, figure out exactly what went wrong before jumping in again. Maximum risk of 5% in any 1 trade.
    Now, back to trading... I expect...

  8. #18
    Hello,

    About the attached EURUSD 1H chart I plotted a few fashion lines. I have also added the main installation I'm waiting for. The grey line is merely a means to link the current price to the blue line that is what I really need to become real in order to enter longterm. It must break 1.4675 and then return to to the current horizontal resistance. If it breaks through and doesn't go back, it isn't sufficient A for me. And if it goes lower than 1.46 from here, I must rethink the situation and think about a short trade.

    So that's it. 1.4675 or 1.46? That's the question.




  9. #19
    I am a bit entertained of myself which I am adjusting my egy constantly instead of investing...
    Today, back to trading... I expect...
    That is because you don't have it clear in your mind. It looks OK from the list but if you're sure of the method you'd be trading.

    Let's pick this apart, if you don't mind:With the trend. Which trend? Daily, Weekly or Monthly? No indiors whatsoever.This little I do like. Only A setups are good enough.Please specify. s, Outside Bars, what precisely? 1H into 1D charts.Wrong order, try Daily down to 1H Look for greater highs/lows and reduced highs/lows to find out if a real trend is around.Again, which show of HH/HL on that chart? I rely upon this pattern on the Daily chart and trade the tendency until the past substantial Low (uptrend) or significant High (downtrend) has at least Daily close outside it. Input based on trend action. Here I will use unique approaches and patterns. Here lies the issue. Pick one egy and stick with it till it becomes second nature or you also know it doesn't function in the current market conditions. Majors (Foreign Exchange, commodities,...). EURUSD as a beginner, though, till I hit the promised land. I spent the best part of a year only trading GBPJPY before I lived and breathed S/R and felt I really knew what I had been looking at before each trade. Learning to trade one pair for a couple months makes studying S/R easier I promise you. EURUSD is like any. Stops or trailing stops at a fantastic distance from preceding trend high/low. It is possible to trail behind 4-hr S/R if you would like to keep things tight or utilize ATR 20 percent as a beginning point. With some Pairs it may need to be 50% After a losing commerce, figure out what went wrong before jumping in again. Absolutely essential to the entire exercise. Maximum risk of 5% in any one trade. Too risky as you are studying a new egy. Just use the tiniest lot your b roker provides and simply concentrate on picking the best deals. If you run with 5% you'll be too focussed on the account balance instead of learning to trade well. There I go again. When you thought it was safe to start posting again I have ambushed you.

  10. #20
    That is because you don't have it clear in your mind. It appears OK from the listing but if you were that sure of the method you'd be trading.

    Let's pick this apart, if you do not mind:[list=1][*]With the fad. Which fad? Daily, Weekly or Monthly?[*]No indiors whatsoever.This little I do like.[*]Only A setups are great enough.Please specify. s, Outside Bars, what exactly?[*]1H into 1D charts.Wrong order, try Daily down to 1H[*][b]Look...
    Hello Peter. Good to hear from you. I certainly do not mind you dismounting my articles. I appreciate it, but you know that.
    Depends on which timeframe I'm trading. Currently 1H, because I can maintain the stops from growin to large (in pips), and things are occurring at a sufficient rate to keep me awake but not stressed. Good. I'll attempt to clarify. A setup for me is how I would like the market to proceed before I take a position. My post before tonight is a good example of that. No special order, actually. What I meant is that I won't day trade. I'm not sure I completely understand your query. What do you mean with series? I want to see, when in a down trend, at least one higher high and a higher low earlier I can anticipate that the trend has reversed. And I also would not continue trading a down trend, if there's a higher high or a higher reduced (or when I can see the market's slowing down). Please see the article before tonight. That is what I believe with patterns (well-known). Yeah! That is my egy. Ok. Thanks. As you know, I stole it from you The 5% is more of a long term target when I return to investing in a massive account again. Now, I have a little account running that I can afford to lose. Thank you for your constructive comments, Peter.

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