wasp

Enjoy, forget, relax, come back refreshed and raring to go, confident and relaxed. Have a good one!

If I was you I'd walk away now and come back next week... I wouldn't trade if you are this unsure at the moment.

Okay, maybe not the best choice of words. Perhaps, ''be ready for anything with correct risk parameters in case the worst scenario approaches''. After my early week nastiness, I am just more cautious and careful now. Ouch! gutted mate, nothing worse than making the effort then it going sour. Not a bad idea to take a day off though, come back when it settles a bit more.

Just saying be careful! Always expect the unexpected.

witching day today chaps so be careful out there... I know a lot of people taking the day off because of it.

Time will breed patience and you will learn that overall, for the bank balance and for the psych, you can and should hold and trail or whatever works for you. TBH, I doubt this will go much higher but for me, I used to kick myself for taking profits early and letting others I could have taken, reverse and after many months realised, as it is a marathon, not a sprint, its best to take the overall best average. For the meantime though, nice one! If only Lehmans and Co had us trading for them, they might be richer now!!! :rofl:

making you smile cowpip????????!!!!!!!!!

Oh sorry, normally around 30 pips or half way between the prior 2 S/R...

Yep, long too....... I move/trail my stop only on the hour once over S/R....

yeah I saw you weren't keen on the 'laptop by the bed' theory either. I try to trail on an hourly basis over S/R now as I become more risk averse and thankfully, its not every hour but still it requires constant 24hr awareness. I know full well what you mean about the fear and late entries, after that dodgy 4, I was more than cautious to say the least... Whilst SHIT WILL HAPPEN is now printed on my wall, I have now set it in my plan that if I have 4 losses in a row, I walk until I have faith again... Not easy I know

cheers cowpip but I would say, since that mess of mine, all that's happened since has been beautiful movement but what's great to one is hell to another... Sorry to hear its not being going great for you today

Turned out nice again! Whilst I am still fuming and yes, it turns around all the time and yes, except you aren't (near enough!) perfect, 4 consecutive losses is the worst run for a looooooong time and it hurt!

Trading can be boring at times and a distraction from over trading and allowing patience is handy but I have come to the conclusion for optimum performance, posting on BB's is only a hindrance. Cheers Good trading

Mornin' I personally have had the shittest 36 hours I've had for I don't know how long.... As JT1 suggested, I am taking what I have and legging it. I have far more interesting things to do for the rest of the year and I don't want to give back what I have made so, I won't! Plans for skydiving, travel to tequila land in Mexico, a trip to abuse FW in Belgium and a surf comp in December are all going to keep me busy plus my studies, its time for a break... Hope the rest of the year is good for everyone... Cheers Chris

Another 300 pip gap on GJ for the opening atm...

weekend divider... have a good one all!

Damn annoying though! have a good weekend!

Yes, the latter sounds better but never found something that good. I have been tightening my stops but only so tight you can get them and of course, no one can say how much a market will move on each trade/day/week..... No they are full losses, I just didn't put the figures on there as its in my blog essentially for me and I know how much the loss was. Its just there for storage.

That said, I am looking to improve and reduce my risk exposure plan atm (without trying to reduce returns)... Thing is I cannot think of anything better than less % or tighter stops...:\

I risk 4% of my entire capital on any one trade and only have one trade at a time. I am all in from the word go till my exit. Damn straight! Why not?!!

wuss! :rofl:

Damn! I was already up nearly 300 pips before your first trade of the week!!! Mine is in my blog btw!

Yeah sorry, totally agree and an alternate view is wise... Tad defensive there! Plenty of ways to skin a cat! Yep and that is pretty much I do, I just dislkie labels is all. Once you start labelling you start expecting certain things and you need to forget the names sometimes, read between the lines and just go with the flow. Yep and why? Through experience I have learnt that there is no suc thing as a no brainer. No such thing as an optimum time of day or guaranteed result, (my overnight NZ experience taught me that one the hard way) and so, I am always in, ready........... Oh, that and I am a greedy git! :o

I think labelling causes more problems than assist. I am, rather happily, trading back and forth and ready for when price really drops or rallies like it did today. Some I lose, some I grab 20 here and there. This is my point the other day about a trader profiting from any condition as I do not label the market, I ride with it each move back and forth and I am ready for anything. That's all very pretty and great textbook stuff FW, but, IMO, I think, whilst you may be able to explain price action better to those who have read a book or two, I will still make more pips! I have all those levels on my chart too btw! I'd be interested to see where you think you would have traded...

Price rarely drops, rises, drops, rises... yes it happens and its a bitch when it does but usually, you will get a break of S/R, then a pullback to the most recent S/R (not necessarily the main one you used to help enter), then continue till S/R stops it going further and the process continues (which is why MA systems only work in strong trends). I use the 60m to get me 2 or 3 trades a day (30m = double / 240m = half) but I always wait unless it properly breaks S/R otherwise you would be chopping and changing all day on the smaller TF's. I am not saying price trends more in FX but, it is more likely to find such a pullback, however minor (or harsh) before price reverses as, as I said, price just doesn't fly one to the other that simply. I do use the 30m S/R / swings to exit too occasionally and wait for a pullback then re-enter but you'll see that when I post the 2nd chart to my blog over the weekend. Anyhow, must log off or I'll start having to charge soon! Have a good weekend!