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"Just Oil"
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 19 2012 at 17:35
(edited Jul 19 2012 at 17:35 )
lot's more than just oil, no ?
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 20 2012 at 08:32
(edited Jul 20 2012 at 08:32 )
 expected 2:1 on this. was 1.5:1 but never got to target, may be will but it's too slow. I expected a good stop run on this. took long tome so closed 1:1 R;R and was slow to react to add second half Attachments:
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 20 2012 at 08:33
I sensed it is going down but set up I like to see have not happened hence I did not go short. I have a good feeling where it is going down. long guys beware
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 20 2012 at 09:02
bought wheat and corn yesterday. all trades but one turned green and floating equity is more than I lost. not taking no profits of course. if things go my way will lock full size profits.
 biggest worry are NZD trades. stuck there better not to think. i am taking signals and do not worry, cut losers, let profits run. Attachments:
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 21 2012 at 07:51
(edited Jul 21 2012 at 07:52 )
I will close NZD/CAD short trade on open unless it drops. will be looking to buy it.
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 21 2012 at 08:13
(edited Jul 21 2012 at 08:14 )
Could not sleep tonight. Thoughts of trade management mistakes taking partials and closing trades manually and not taking few signals which turned big winners. Eur/Aud is the biggest would be winner. 1200 pips now from my entry. Did not take aud/nzd thinking there is triangle on weekly. I already got it. in this kind of trading all signals must be taken without any thought. Stop loss is ATR based which is smaller, more losses but R:R is drastically improved for winners. All trades are taken out by market which means I move stop and let market decide. The case in point I closed e/u short. Good that only closed this one trade. it did not hit my stop then. On the other hand gbp/jpy my stop was approached but never triggered. Now it is going down. from my calculations with full size I should have locked around 15% in profit by now by just moving stops. It has been a learning experience for me and overall I feel good but should avoid making same mistakes again. It is trend trading and my goal is to get on as many trades as possible and run them as long as possible.
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Member Since Jan 02, 2012 43 posts
minosd777
Jul 21 2012 at 09:35
(edited Jul 21 2012 at 09:56 )
In my opinion a trader always makes mistakes, it's his job to make more good decisions than bad ones! Bad decisions are unavoidable! Thinking about past trades that you should've kept open is just looking at the wrong problem..those were winners and you had to close them to take profit! Of course I understand you want to make to most out of all trades but that's simply impossible, otherwise you will be the richest man on earth within 10 years, just try to imagine the probability of that happening...also, don't overly rely on a system to trade and not think, very trade is different and the fx market changes all the time, so I think it's better to increase your experience by thinking all the time, measuring the pro's and contra's, R:R, resistance, support, ect. A system can be a tool, not THE tool
Anyway I think you have been trading very well this last weeks, so there is nothing to regret, it's important to sleep well ;) Every day gives us new trading opportunities, it's our job to recognize them and to take the opportunities! Momentarily I am short the EUR/CAD with my first demo because the chart is just so weak! Even on a EUR/$ bounce of 100 pips it hardly goes up so I think it can go even lower newt week, on the second demo I am long the $/CHF based on EUR weakness and chart support between 0.9760 and 0.9860 |
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Member Since Jun 06, 2012 1360 posts
stevewalker (stevewalker)
Jul 21 2012 at 12:35
Chikot
I told you about that. as much as you make desecion as much as you make mistakes. desecion should be at min level. on entry side or on exit side. when in both side you basicly double you wrong desecion poss. I am always saying that 'coded too much, when someting good for long now will be good for short after bars/hours/days/weeks depending your period.' Chikot posted: Could not sleep tonight. Thoughts of trade management mistakes taking partials and closing trades manually and not taking few signals which turned big winners. Eur/Aud is the biggest would be winner. 1200 pips now from my entry. Did not take aud/nzd thinking there is triangle on weekly. I already got it. in this kind of trading all signals must be taken without any thought. Stop loss is ATR based which is smaller, more losses but R:R is drastically improved for winners. All trades are taken out by market which means I move stop and let market decide. The case in point I closed e/u short. Good that only closed this one trade. it did not hit my stop then. On the other hand gbp/jpy my stop was approached but never triggered. Now it is going down. from my calculations with full size I should have locked around 15% in profit by now by just moving stops. It has been a learning experience for me and overall I feel good but should avoid making same mistakes again. It is trend trading and my goal is to get on as many trades as possible and run them as long as possible. Trade the Trend, Defend to Price! |
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 21 2012 at 14:55
guys, the point is that it is trend following. Taking few pips is not a goal, the goal is to get on big trend and ride it. You are right though. I have to learn lessons and avoid same mistakes in the future. it also comes to taking trades as signal generated. i missed a few last month because had doubts about pairs I had never traded before. They are in big trends now.
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Member Since Jan 14, 2010 2186 posts
Chikot
Jul 22 2012 at 22:55
moved stop on nzd/cad and got stopped. went short 2 more pairs: nzd/usd it is still speculative trade but very convincing double top and the test of trend line and cad/jpy is a signal according to the method nzd/jpy.
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