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torero
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Everything posted by torero
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Does anyone have experience he/she can share on using this software with forex data feed? I'm in the middle of finding a second source of data feed and charting in case TS goes down. Or if you have experience with Ensign only, please provide feedback as well. Much appreciated.
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Sounds like a great approach. Why haven't thought of that. I would certainly look into this one. To be honest, I haven't come across many books or seminars talking about money management on a daily basis, but this is certain a nugget to take from. Thanks hlm!
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It's hard to see tomorrow as a bright future when you're down and want to see it your drawndown reversed. But it's inevitable, the emotional state is already disturbed and contaminated. Any more of those will get the drawdown spiral down even more. Get out while the getting is good. I have those days, I usually fool myself by saying the market is not right today so it gives me a reason to stop trading the rest of the day. But if I convince myself that it's me that needs to do right, that's when that convincing will get me back in and do more harm.
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Volume Spread Analysis thread - summary
torero replied to mister ed's topic in Announcements and Support
This is great work, guys, exactly what I was looking for. Big thanks for PP for opening a new path to learning the markets. -
Well, PP, you're the one with the highest and longest thread (150 and going... wow!). I'm trying to find time to sift through to your posts only so I can learn a few things. James, is it possible to compile only his posts to one thread? It may not make sense but it may come out better than going through 150 pages. One other thing, is it possible to search through a specific thread instead of category?
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:o Yeah, the CANCEL button. It's probably the most useful of all buttons! Gotta have it! I wish there was a TOO LATE or TOO EARLY buttons to help us time better.
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Wow, betting his entire house to trade the markets? He's breaking every rule in trading if he ever cared to read one. Worst, his ignorance is making him invulnerable. But then again, each man has to cut his own path to self-realization and all we can do is watch and learn.
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Yeah, it sucks in the beginning when I have to start trading with a new software. You think you learn to get around to execute the trades, but once you do it, you scramble to find if the trade was executed or not, almost losing your cool and execute again, duh! 2x the size, and twice the stress!
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"Money is the root of all evil" this statement is never truer in trading. Focusing on finding and waiting for the next setup is the most boring thing in trading but it's what helps you kept your money won and help move the profit line higher.
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Great narrantion, Abe! Here's rooting for you! You caught on right. Stay with the trade, just move up the stop loss as it marks new higher lows (on whatever timeframe you're trading at). That way, you'll make your way to breakeven and then with luck, locking in some unrealized profits little by little and also giving it room to move up more. Good luck!
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Greed is behind the reason he had a following, tons of money streaming with little capital to start with. Easy money, people just love short cuts... well they do get cut short. But I think that's how everyone get started in this business, I myself included. The lure of easy money. Once it gets going, it's hard to put down. The reality just hits one day and they have to make a choice: stick with it and go the long route without cutting corners or quit. Most just come back and try again with the same idea, quick easy money, then get blown again. Others just dig in and get determined not to be defeated and determined to become successful.
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These are days that remind me why I stopped holding overnight positions. This is also the reason I stopped trading stocks or overnight holds, but weekends are even worst. But 10 contracts, what was his total equity? 100K? That should have been the minimum had he understood and used risk management rules. He may not have seemed like a newbie but he did make a newbie mistake: overloaded his position size.
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Wow!!!! He went from 7k to 32k?!!!! First loss is the best loss.
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I see this happen very often in commodities, but index futures, first time and learning.
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I've never seen that before. I remember watching the ES and ER2 in july 2004 or 2005 when the London metro was attacked and the overnight didn't stop trading. Not sure about this one.
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It's 5 hours before US markets open, but futures are already way down. I trade forex and it seems everything is moving too. Get ready for a big day tomorrow morning guys!
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There comes a time when you just rise above the shoulda coulda woulda and just enjoy the moment until the next setup along because you know sooner or later a next great setup is just around the corner waiting for you to take it. The now moment is all I look forward to.
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I think there are two kinds of people, either motivated by pain to succeed like Marty Schwartz who never wanted to be securities analyst and another failure in his family (his own opinion) and by pleasure who just love trading and does it successfully and take pleasure out of it. I myself from both, I never wanted a 9-5 job anymore and of course, I never thought I would enjoy trading so much, especially when the market and I are in synch.
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I haven't watch much CADJPY but I'll keep an eye on it. If these move together chances are the move is real, especially when they all break out. Once it starts, it's a pretty good ride.
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There used to be a section of unread threads since the last login located underneath my name, does this feature still work?
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JPY-based pair have been very trendy, mostly strength of the YEN, hence my affinity to them lately. I use 240-min, then 200 ticks to trade off them. Of course I mark all the S/R areas from weekly and monthly charts. Due to the spread, problem with the GBPJPY is that you're not allowed to be sloppy, that means you have to be precise in your entry when the trend starts. The percentage of wins have to be at least 40-50% or else a few losers with high spreads add up quickly. I tend to sit tight until it hits S/R of importance and then wait for the test to fail and get in. I never join in when the trend is already in progress (I'm talking in 200 tick charts here). Because once it's started, it's very hard to know where to get out when it moves against you. I'm learning to when to let it run. Although my percentage has been better than I expected. One thing I do watch is the other same cross pair to find similar movement, say, USDJPY and EURJPY. All have to move together in a breakout, I put a bigger lot in the trade, if just pickpocketing from range, I play a smaller lot. Hope that helps.
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Seems to be my favorite at the moment... fast up and fast down, long gyrations. Hate the spread though (just awful averaging 4 pips)... but gotta accept the necessary evil. I've pretty much narrowed down to trading mainly JPY-based pairs (USDJPY, GBPJPY and EURJPY) and occasionally GBPUSD.
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I think our moderator TinGull uses an Apple for trading. Might want to contact him for info.
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Welcome merweg!
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Happy Holiday and a prosperous New Year!!!!