Things Ive learned (as a n00b)
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Thread: Things Ive learned (as a n00b)

  1. #1
    Hi all, I know a lot of folks have trading journals here...I'm going to keep a thread of the things which I've heard in my first couple weeks of trading.

    1) Use stops not just to stop losses but also to protect gains. If you have a sizeable unrealized profit and you don't wish to lose it, then PUT A STOP IN....trailing ones are nice.

    Two ) If you think you have a fantastic instinct, trust it. There's few things worse than saying'Oh I wish I bought/sold...' once you thought of doing this first time ahead of the big move.

    Any other contributions??

  2. #2
    I was told to watch out for lunch hourwhen the big boys go to lunch the little men will screw things up and as soon as the big boys return they will try to get the market squared away , therefore, if you got in while they were out you're probably in the wrong position. I just trade after market available, London and New York and am always out ahead of their individual lunch hours (Noon).

    Mr Whipple, it seems like we're about the exact same age with the exact same experience when we were younger. I didn't understand them and I'm sure they didn't understand me, so what the hell were we trying to kill each other for? The powers that be placed me there, but I have even, I've been getting a tax free handicap test and free medical care for the past 37 decades, that'll teach them! Isn't your hair gray and thin like mine?
    Cheers and Happy Trading,
    Dave

  3. #3
    I chased GoatT's purpose when he posted his journal here in the Beginner's Forum, which explains the reason why I'd transferred into the Journal Factory. Now I've put it back where he intended. Sorry for any confusion.

    A special thanks for GoatT for wanting to add useful content to the Beginner's Forum.

    Due GoatT!

    Dial

  4. #4
    Quote Originally Posted by ;
    I was once told to watch out for lunch hour, when the big boys move to lunch the little men will screw up things and when the big boys get back they will try to receive the market squared away , therefore, if you got in while they were outside you're probably in the wrong position. I only trade after market open, London and New York and am always out before their respective lunch hours (Noon).

    Mr Whipple, it sounds like we're about the exact same age with the exact same experience when we were younger. I didn't know them and I am sure they did not know mepersonally, so what the hell were we attempting to kill each other for? The forces that be put me there, but I got , I have been getting a tax free handicap check and free medical care for the past 37 years, that'll teach them! Also why isn't your hair gray and slim like mine?
    Cheers and Happy Trading,
    Dave
    welcome to the forum aggie. gig-em

  5. #5
    Hi guys, after a conversation w/Dial I needed to let you know that is a neighborhood thread. I will add things I've learned, but I want all to contribute to help everybody else.

    Hope that you have a profitable new year all! Best of luck!

  6. #6
    Of course the very best advise I ever got was:

    Two up.
    One back.
    A hot meal a day.
    And a clean pair of socks.

    But that really doesn't aply here but it works in the event that you've got a lot of guys with guns behind you and much more in front of you which don't like you much.

  7. #7
    Finest Forex advice? Sorta like; you understand how in real estate they state that you only have to know 3 things: loion, loaction and loion. I think exactly the same type of thing applies in Forex, except it's: price, price, price.

    Keep looking at these charts and pips to you for the new calendar year.

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