Im crashed today. - Page 2
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Thread: Im crashed today.

  1. #11
    You're right. That is why I am thinking I am the one that is worst and a gambler. Can you tell me that the method you invented by yourself or learned from others?



    Quote Originally Posted by ;
    I think you answered your own query. You said you marketed to the drop/retrace. What was telling you the EUR/USD will retrace at any given moment? An indior? Some automated system? Because it had worked before, no, just instinct. But of course that in no way garuantee's it will work or in varying market conditions. Retrace action is one of the most dangerous practices on the market.

    My account grew substantially faster when I ignored the temptation to grab the retrace and just flat out followed my system. What works twice, may not work a third....as you've seen today.

    Given the effect of Bernacke's address, you were playing with a loaded gun....and regrettably, it went away.

    Learn from this and analyse why it's dangerous to dismiss systems/indiors/fundamentals and play by the gut.

    I will not offer any words of consolation, cause you do not need them....you have to realize what you did was dangerous and you paid the price. It's anger and dissappointment that forces us to analyse ourselves.

    Please do not take this in the wrong tone, I have made the specific same error. I built up my account quite well often practicing the exact same mentality, adn then in one fail swoop, gave it all back when the EUR/USD dropped to 1.1698. DAY, I WILL NEVER FORGET THAT! It altered my trading life forever because it made me think of why I did that and what I should have done instead. My defect: trading against the trend even though the trend was sitting there slapping me in the face!

    I have not played with the retrace activity because and my account has resisted me since.

  2. #12
    This was a 4hour exchange for the GBPUSD. It fit the criteria to a tee. The weekly trend is upward. The 8 ma turned up early, about 8:00 ET with the Neutral line or the aphid line, as a guide I placed my buy at 1.7881. Using a stop in 1.7818 I can't agree with you about reversal. The Vwb 4 hour docs state that a trade should ONLY be made at the direction of the weekly fad... The fad was and was up. It was a really obvious trade...

    Hastings, I believe so much for your loss here. Not only have you lost some cash, you have lost some confidence in your own ability. The later is far more important. Money comes and goes, but your mental and physical health is all you have really. Please Do not stop trying. Just learn from the error and attempt to familiarize yourself from the win/loose part... A trade either meets your principles and MONEY MANAGEMENT also it does not... Despite your gambling attitude on this trade you would have been ok if you had put stops at a level that has been consistent with your account size...

    I suspect the size of the stop required would have prevented you from taking this trade in the first place from a cash management standpoint...

    It is not the profit you create that will enable you to triumph, it's the amount it is possible to keep that will prove your skill.

    I really think you can create it, you have learned the most debilitating, but most important lesson about trading. Guard your account....

    Good luck and Decent learning... Scott


    Quote Originally Posted by ;
    Mudd, interesting words. I take it you do not think too much of the different Vegas systems afterward, because they appear to rely on the retrace from outer EMA band action....

    Where do I learn more about your favourite systems? Thanks for any information.

    Ol' Don

  3. #13
    I think this is start to successful trading

    after when Jew send his son to trade, he prayed to god to create his son to shed first time.
    It is good lesson.
    Personally I blew two minis, and I think this Is the Reason Why now I'm withdrawing money from Currency Market like out of ATM
    If you do not give up, and develop good systems you will become pro trader

  4. #14
    Yet another advice I can give you, go join James16 group they will teach you how to deal with your accounts.

    Lol I am not member of this team yet, but I feel it, yeah I feel that the smell of success coming from there

  5. #15
    Thank you for all the wise encouragement and counsel. I start feeling a little pumped.

    Just want to reveal more of this lost account, there was 920 left before today, and if it dropped $630, I see that there still $290 left, the mini account margin ought to be 250 and also the minimal request is also $250, I don't get it why the trader took $290 off after a couple of minutes. I believed I could play with this? Any body can give a clue?

  6. #16
    Quote Originally Posted by ;
    thanks for all the wise advise and encouragement. I start feeling somewhat pumped.

    Just wish to reveal more of the lost account, there was 920 left before today, and if it lost $630, I see there still $290 left, the mini account margin ought to be 250 and the minimum petition can also be $250, I don't get it the dealer took $290 off after a couple of minutes. I thought it and I could still play? Any body can provide a hint?
    No withdraw it or leave it unchanged

    or decrease lot size to satisfy money management principles, I suggest never to use high leverage that is not allowed.

    DO NOT ADD MONEY TO LOSING ACCOUNT!!!
    That is number 1 rule for you acc.

  7. #17
    I dropped some money in my demo account now also. So like a number of the comments here suggest I took a peek at my egy and exactly what went wrong. I concur with . The trend is up. It's been for a little while now. I have been placing long positions left and right right now for a while and it has been working.

    (Each of the days to follow are MST and are based on a H1 chart)

    So what went wrong. I have been trading a simple MA egy using a 9 bar, 14 bar and 29 bar cross. And it's been working. Sure, it is reactive and also a little behind but I'd rather be behind the curve than infront of a wrong curve.
    On the 26th at 10:00 the market appeared and started down. I thought it was just a retracement and remained with it. Sure enough, it came back up and peaked again near the exact same price at 19:00 and started down. I read it like a double top and bailed out with profit. I watched my lines grow closer together but also waited to the cross. Then here's my error. I didn't await a solid cross before entering again. I should have waited to get a solid cross before departing actually. If I had done that I'd be in the green now. Rather, I was watching my lines move together and wanted to get ahead of the match a little. I looked in the double top with MA's moving together and I pulled the trigger to get a brief. And lost a few, not all, but a few.

    That is the summary of my egy and what went wrong.

    What did I learn today? Pick a egy that works and stay with it on the finish.

  8. #18
    1 story:

    ok - last year, started with $500, went around $1200 in 3 months, and THEN....

    ....did EXACTLY what you did! Actually, started with 3 lots, went around 6, then had the giggest drop/gain in currencies throughout the ASIAN session!

    (Oh, I entered all transactions w/o knowing charts.)

    Margined out in a few hours left $300.00.

    Went crazy with the last 300 or so putting in transactions here and there. Went around 500 again just to dismiss it !!

    So I went back to demoing for the past 10 months.

  9. #19
    Hastings,
    that I know it may seem frivolous at this time, but because there's a discussion currently happening in the members lounge re NHL Playoffs, it may just be appropriate.

    Firstly and before we get there, Look ahead to the days when a $1,000.00 drop in equity results in a That pis-es me off kind of reaction. Since in the event that you stick it out long enough to do more studying TA, FA and ME eh, they may come.

    Second, NEVER try to take revenge on the Market. You may lose. Period. End. Finito.

    And Last, but not least. The tough lessons are those that teach the most. You've just heard the roughest. The Game will continue with or without you. Your immediate job today is to make sure to understand Why How you made your error. Then as Accrete could say place it in your quiver.

    Back into the NHL.
    Just how many times has a spectator/fan stated
    Our guys are much better than that. Why don't they just play like the know how to. It'd make it so much easier to overcome those other guys.

    Much easier said than done, but this also is accomplished by small victories. one great hit, one great rescue, one great... Then the assurance starts to exude as well as the tide starts to turn. Then it's a case of keeping disciplin.

    James' suggestions I believe are purely from his heart and possibly with personal knowledge of your current predicament.
    His suggestions may seem like Shi_, that will take me forever. I want money today.
    He is just asking you to take 1 year and basically Serve your Apprenticeship Compare it to the length of time it requires to pass finals on ANY additional Profession.
    Ahh.... The rub lies. FX is fast money. Quick AND quick In Out. Is that worth studying for a year before you throw your prospective family included on the line?

    Hang In There Hastings
    And
    Hang Out Here.
    Best fast response support team going.

    [Hi. My name is Bill and I Trade Forex.]

    $0.02 CAD
    ps. The two Hastings Canada and Hastings NZ are called following
    Hastings England. The website where an arrow into the eye at the year of 1066 killed King Harold.
    hmm. . More arrow things...

  10. #20
    Quote Originally Posted by ;
    I feel this is beginning to successful trading

    once when Jew send his son trade, he prayed to god to make his son to lose time.
    It is fantastic lesson.
    Personally I blew two minis, and I feel that is the reason why now I am withdrawing money from Currency Market like from ATM
    In case you do not give up, then create good systems you will become pro trader
    Good words, 777!

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