Thanks Mudd!Originally Posted by ;
What you have mentioned is a ideal egy to Forex trading. I've a word file that spare shrewd quotes like this there. Do you mind if I save yours there.Originally Posted by ;
Thanks,
your own allright bemac. I chase your posts down. 1066 hmm, being a long time amatuer astronomer I think that was the year the crab nebulae went supernova and haleys comet made a major appearance. All kinds of stuff was blamed these crazy things in the skies this year. Never understand where this forum may go.Originally Posted by ;
Hastings
MuddBudda said something that is extremely important. Not in the post just above but on the prior page.
I think he said he stays with the trend and does not trade retracements.
A tangent to that is to use retracements as buying opportunities in this situation going long with all the fad.
He also mentioned being aware of the fundamentals e.g. todays speech.
You might also need to look into O a n d a because they let you exchange in units in which 1 USD = 1 unit. Thus a miniature lot is 10,000 units or $1. But you can exchange for 1000 units ( a dime ) or scale down and up in other fractions of a dollar.
I understand the followers of Bird Watching In Lion Country made some wonderful profit now. They are following the trend and so are constantly going long. Perhaps some scaled down but they weren't out last night and earlier before the address.
Hope this helps.
Post hastings. Trading is just as much about times like this than it is about trading egies and rankings sizing. When I have days like that I constantly think about the old saying'what doesn't kill me can only make me stronger'.
Just another of my favourite sayings is'every good roll begins with a crap'. (thats dice lingo for you non gamblers!)
Hi there, haven't post here yet but I believe I could relate to the situation since the emotions tend to shoot over untill u clinic to put ur head on a right path
what happen to u, happened to me also and is probably what happens to over 50% of traders when they first begin - un faild to take responsibily for your trade, didn't specify the risk and thus out of fear of losing where looking for sign saying that your trade can still work while dismissing everything that says stop and reverse
I truly suggest for you to read Mark Douglas's book Trading in the Zone - it copes with a psycological aspect of trading and how you should look at every transaction (i.e. you are say that maybe you are not good as a trade and ought to stop? - the question is: Does the result of your previous trade has any affect on your future transaction - NO! Because you can't possible understand it - each new trade gifts you with a new possibility with an equivalent chance for lossing or winning. If your believe in probabilities - all you have to do is find a border on your favor(system/model) and believe that over time that border will deliver profit based on completely random outcome of every transaction. Its like in casino - Casino has and advantage of 4.5% in a game of blackjack predied on its own rules. However outcome of every hand is completely random. So all they want is a large enough sample size(trades) to flip it into their favor. Of coarse u must use some type of money managment.)
And a small question based on your rankings - did Eur$ actually hit 1.2563?
Originally Posted by ;
A natural New Trader development might be defined as. .Originally Posted by ;
Confidence gt; Hope gt; Fear.
Part of this learning curve from my perspective is never exchange from Beyond Hope.
Always base your trades in the notion that NOW would be a good time to enter.
B.
There's a simple remedy for this issue in the future...Originally Posted by ;
First of all, think in probabilities...
Secondly, whenever you've got a strong feeling that you would like to go against the trend to ch a change, constantly reduce your position size to the lowest possible, and reduce your stop loss to minimum and take the excellent retracements without getting greedy. . .Oh yes, and don't pyramid agains the powerful fashion, simply be happy to ch the retracement with your minimum position dimensions and get the hell out as fast as possible...
I also suggest that you out time your trade when against the trend. . .If the alteration you're waiting for did not arrive in 6-9 hours for example, get the hell outside. . .After a powerful move like the one we saw from the past 2 weeks, you should expect the market to retrace quickly, if it did not, it only implies that the market is more powerful than you think and You Shouldn't play with it, simply get out and see...
Thanks,
Nader