School of Pimpology - page 157
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Wednesdays trades
Hello every one
Isn't it interesting how we are all different. Some find the live room really helps them, others it hinders them (apart form the two sessions with the mentoring team)?
I had my first negative day of my year today, after two positive it had to happen sometime (strangely Anders was off form this monring, & Zak wasn't quite as bullish as usual this afternoon)
So, great start am session
GBP/JPY long +41 (half close) + 60 (second half) +50
cable long +49 (half close) + 68 (second half) +58
however at the same time
EURJPY long, sneaked down to my emergency stop -100
all that hard work +8
pm session
USDCHF long wasn't happening -31
total for today -22
Good job I got the cable long closed before Rockie hit the shops
CU all in the live room tomorrow
Paul
I agree with you Nicola, I have been trading for years and I am still having trouble timing when to get out of a trade. It makes me so angry when I am up over 30 or 40 pips and then end up loosing!
Rockdrive, Tony, Bloom, Nicola,
Thank you very much for your good feedback and advice and kind words. There is a light at the end of the tunnel!
Cheers,
SF412
Probs with me
I have bn following this thread right from long time now just that i dont post much at all... i dont know ppl that we start learning this stuff on here (geat pimpology method) has already being very profitable and all of that... i could name names but no need coz it would only make me look dumb to you guys but im not and i know i could make this work for me coz i totally love this method BUTyet i keep having 50/50 winners/lossers even more lossers recently which i know is not right, i usually work with the 5/15mins chart (and i always also look at the larger time frame to see where market is headed) and i dont enter until all the MA's are all in fine tune with using the 123 trigger to enter.
So what do you think im doing wrong, my stop are usually tight, 35point away and i only trade London and New York session. I need some insight help needed.
Kay
Post the Chart
I have bn following this thread right from long time now just that i dont post much at all... i dont know ppl that we start learning this stuff on here (geat pimpology method) has already being very profitable and all of that... i could name names but no need coz it would only make me look dumb to you guys but im not and i know i could make this work for me coz i totally love this method BUTyet i keep having 50/50 winners/lossers even more lossers recently which i know is not right, i usually work with the 5/15mins chart (and i always also look at the larger time frame to see where market is headed) and i dont enter until all the MA's are all in fine tune with using the 123 trigger to enter.
So what do you think im doing wrong, my stop are usually tight, 35point away and i only trade London and New York session. I need some insight help needed.
KayHi Kay,
Perhaps easiest way to comment would be for you to share with us a trade which has gone against you and put on the s/l position and the trade entry position. You will probably have a few comments back then, which may provide some insight. One obvious comment is maybe your stop loss is too tight and that you are not entering close to the break or the trigger. Can't comment more without futher details.
Chartist Rockie
chart
I entred at the red arrow(short order) the yellow line is my stop, i usually dont have problem taking profit, once its 30pips in my favor i adjust my stop to my entry point.
How do i post chart cant believe i cant sort this myself?
I entred at the red arrow(short order) the yellow line is my stop, i usually dont have problem taking profit, once its 30pips in my favor i adjust my stop to my entry point.
How do i post chart cant believe i cant sort this myself?
You need to capture the chart...I use paint which is an accessory in Microsoft. Get the chart up you want. Press Alt +PrtScn. Go to the Paint application and just press Ctrl V. This should put your chart into paint. Go to File and save as and make sure you safe the file in a name and location you remember but make sure you safe as .gif format. Its nice a small and does not take too much time to download.
Next step - come to forex-tsd and post reply. In this section scroll down to manage attachments and click. You then use the browse facility to find your chart. Press the upload button on the manage applications section. You attachment will now be ready to post. YOu can close the window and then press submit reply. Your chart will post with your reply. Its the way I do it there may be other ways.
Hope this helps.
All the best,
Techno Rockie
Flogging a dead horse?
Hey Spitfire,
I hope I'm not flogging a dead horse but from my post #1532 I wrote about how reducing my lot size from $10/pip to $1/pip removed my fear of losing.
It's those gremlins, demons, inside all of us that want us to make a killing to better our standard of living. By following the gremlins and demons we trade $10/pip hoping to get $1000 from a 100 pip move. Unless we have a $50,000+ account, this is way too much for our "real and logical" emotions to handle when the trade turns into a 40 or 50 pip loss.
We have to fight those gremlins and demons and not let them interfere with our logical and "real world" thinking. As others have said, drop down to a $/pip level that is comfortable for you to accept WHEN YOU LOSE. The trick is to base it on LOSING and not WINNING. Forget about thinking how much you will win and instead focus on how much you will lose. Doing this controls your losses and you will find the winners just take care of themselves.
I was told this a long time ago and rejected it - it's taken me 9 or so years (and many $thousands lost) to finally realise and accept this and put it into practice. After doing this, I was finally able to treat my trading as a business - some you win, some you lose and after a loser, just quietly move on to the next trade.
Also, with a lower $/pip, you can put on multiple trades. Bank a third after say 20 pips and move the rest to break-even. This way you make 20 pips no matter what the rest do. If all goes well, bank another third after say 50 pips and then trail the final third.
Don't be an idiot like me, Spitfire, and wait 9 or so years, DO IT NOW!
Hope this helps.
Rock on!
My turn to have a really bad day
Hello everyone
Well, I started the week very positively, beating my daily target Monday & Tuesday. Yesterday I faired less well, and today has been simply awful
Only 2 trades
GPBCHF entered very late last night
short
(was still around entry point at live room open)
(went against me with stirling strength, but this was a long term trade & seemed to have peaked, so I left it. Totally missed the really big clue in Zaks am report looking for it to go long)
logged in for NY open - stop hit
-100
EURGPB
short(in far too late, during the voltitity around the announcements)
-50
total for today - (thats minus) 150
aiming to turn it around tomorrow
keep posting the ups & downs guys
Paul
Hi Kay,
Perhaps easiest way to comment would be for you to share with us a trade which has gone against you and put on the s/l position and the trade entry position. You will probably have a few comments back then, which may provide some insight. One obvious comment is maybe your stop loss is too tight and that you are not entering close to the break or the trigger. Can't comment more without futher details.
Chartist RockieIm re-sendng my message with the failed attached charts. Thanks rockdrive for pointing me to the manage attachment. I got the chart earlier just didnt know where to upload it...
I entred at the red arrow(short order) the yellow line is my stop, i usually dont have problem taking profit, once its 30pips in my favor i adjust my stop to my entry point.