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I have been on a winning streak and now nervous to take new positions

Martin (elerik)
Feb 06 2013 at 13:14
4 posts
I tried to be patient and take profit on farther positon (100 pips) but my system dont allow it to me. MAy be tight stop loss. So I experimenting with strict 30 pips targets. Becouse i noticed that very often price go throught this limagine line and return back, hit my stop loss and continue to farther line. So For me it is just disciplined target. And without emotion...for example 'oh it was just 30 but it go to 90, I could it have'. Understand I have problems with emotions. Therefor I have to keep this method and try get more confidence more calm. Ussually there is no rule to understand where price will move. For that you have to see the future (or know :-D ) but it is not in my strenght. So I decided just trade where I see advanced for me. And little more chance that it will happend as i thought.

mylin_m19
Feb 06 2013 at 20:41
40 posts
umm.. ok I do exactly the opposite. I let my stop-loss exit my trade rather than the take-profit.. like even now I am down in my eurgbp trade but I will wait until my stoploss hits and only then I am out.

I did something different today (maybe shouldnt have done it) - I went and put on a gold position today... i think it might just break out. so, lets see...


mylin_m19
Feb 06 2013 at 21:08
40 posts
ok shouldnt have done that.. umm.. well i have it now so will keep it

mylin_m19
Feb 06 2013 at 22:16
40 posts
market runs, takes a break and then runs again - hope it does it in the same direction...!!

Martin (elerik)
Feb 07 2013 at 07:32
4 posts
My father in low used this 'strategy' and lost a lots of money .. lots of money. (few milions dolars continuously)
Therefor I have a big respect and fear to do something like this. Dont underestimate it.
Well this could breake your strategy. And make your fear stronger.

mylin_m19
Feb 07 2013 at 09:58
40 posts
which strategy? you mean market runs, takes a break and runs again? that one?
I use these strategies - both trend following :

1) long and short on breakouts and with moving stop loss
2) if it is a breakout and market rests then go long/short with tight stop loss as a smaller % of the 1st stop loss
3) i dont do 2) on the 1) market or vice-versa
4) and normally go for short/long on correlated markets or long/long on negative/uncorrelated markets

million dollars???
man thats a lot!! i talking here about like 500 pounds lol


mylin_m19
Feb 07 2013 at 10:24
40 posts
Everything in red for me today - holding on until stop loss.

mylin_m19
Feb 07 2013 at 10:50
40 posts
Guys, I am currently trading like with horizon of n days - i am thinking of doing intraday trading now as I am getting comfortable with the trading system.

What are the points I should consider here? Is it valid for me to me use the same strategy as I was using before and measure n in minutes rather than in days?

Any thoughts/your experiences are welcome. I know I get nervous and stuff, but I stay discipline i.e. I dont exit before stop-loss etc. Looks like it is only a feeling in stomach and I might jump around to resolve it but i dont touch my stops...

So thinking i might move to intraday???


Bisho777
Feb 08 2013 at 12:30
192 posts
maybe this will make u more calm... try not to watch ur charts all the time... suppose u trading 1h timeframe... so u just come before candle close with reasonable time.. to check ur strategy, open trades, or manage ur opened trades...

for me it took me around 10 mins every hour... am trying to avoid looking for the charts during the hour, since thats really playin in my emotions.. !

mylin_m19
Feb 08 2013 at 16:10
40 posts
Thanks Bisho - but it is so tempting. I might just go and play some games for an hour and come back!

EURGBP stopped out - took my loss.

Now got a new trade - short in audgbp at 6547.4


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