Emotions when trading - page 21
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It needs a bit of reworking, without any introduction or conclusion or plans. I'll publish the first one if there's interest.
I'm sorry, I don't know how to deal with it. It's lying in drafts and I don't know how to put it in the pending category. So I guess it's not meant to be.
I think we got it sorted out!
As campaign material, it's not bad at all. The English should have been sold, under whatever terms were offered. Very good, takes away from reality.
I'm sorry, I don't know how to deal with this. It's lying in drafts and I don't know how to put it into the pending category. So I guess it's not meant to be.
Well, congratulations - your eye has worked along the Fibonacci lines :-D But I don't think you should trust the eye 100%! Why? Let me explain. You're so sure of your infallibility, but... there's always that word BUT!
You write that the highest level (determined by you again by eye) is1.20419. And according to you, this is the highest possible pullback? Well, I have to disappoint you! This figure doesn't even correspond to the most less realistic pullback level, which is 1.22! And if, God forbid, a 5-0 pattern is triggered just from the broken level...!!!? I'm afraid you'll have to say goodbye to your blood money!!!! Because the minimum level of this model is very, very high! Namely in the area of 1.57. Such a pullback is not withstanding any of your risk-management))
Again, as an experienced analyst, I make a reservation - if the mood of the bears prevails, we can still get down to 1.08, also included in this model, and then jump up.
And as an even more experienced analyst I can say that there are uncountable amount of scenarios! And no macro or micro indicators are not involved! And the analysis is just the analysis and it cannot tell you anything!
As for the laughter and the minimum lot! Why are you taking it all so seriously? )) I was being sarcastic! )) For myself I understand the same thing in general - there must be a certain minimum (everyone has his own minimum) for a certain amount, to exceed which, if possible, only in emergencies - to withdrawal of the position at worst, in the break-even point. At best, the position may turn in a profit. Again, you have to be confident in your actions, in our case the trend will continue. All other methods are worthy of competition, and are more than risky! If you go for positions, you will go straight to the sinking!!! This has to be avoided as much as possible!!! Ideally, your maximum aggregate lot should comply with the above rule. This would not lead to super profits, but it would also exclude the probability of an early loss. I hope you have a lot of experience in this.
In general, you need to find your balance, in which you will earn an acceptable percentage with minimal risk of losing everything.
Eva has no prerequisites for such rise, you forgot about the trend (Oh yes, it doesn't exist for you :-)... ) .
And I didn't say that 1.20419 is the maximum possible pullback level.
I only said there is no need to define further levels at this point, because if you look at the weekly chart, the levels exhibited already overlap the "return to the moving average" (14 period) ...
Often, the Market will continue trending after the pullback, when it returns to the moving average.
And if you look at history, you will see that after rough moves, the Market ALWAYS returns to the moving average level.
And the time frame, the older it is, the more significant it is.
Both the monthly and weekly timeframes indicate an area that is safe to trade in.
The level of 1.18758 is the low of 7.06.2010. The level of 1.20419 is the low on 24.07.2012.
These levels are psychologically and technically significant.
My measured "Traded Zone" goes back to the moving average as well, and touches both important historical lows.
Therefore, I have assumed that it is not necessary to further define possible pullback levels.
In my decision making I am guided not only by the technical picture but also by the overall market conditions (fundamentals)...
It removes the need to "chase" the price, "rack my brains" about where it will move in the next moment, and generally look for a black cat in a dark room...
I don't really care where it goes.
I know where it will be in about a certain time and that is enough for me.
The fluctuations in forex are very large.
The amplitudes can easily reach 1000 points or more (in both directions)... For example, when macroeconomic indicators are released.
I have long noticed that statistics may be both good and bad. That's why trading on the news is a way to lose.
Statistics gives the Market swings in different directions.
But monetary policy (MP) is stronger than all the fluctuations combined.
I used to see a correction in a heavily oversold Market seemingly called for, but the MP continued its pressure on prices non-stop.
One was left perplexed and scratching one's head...
So all this and more combine to create a certain framework for the model of the future.
History repeats itself. Which allows to successfully extract money from the market in more than 50% of cases.
Of course we can argue forever about what is right and what is wrong.
In my case the rules are determined by practice and experience.
I can be confident when trading EUR/USD... But not other pairs...
For example, I don't want to get into the problems of Japan, Switzerland, or Australia...
I just do not want to.
I tried to trade other pairs, but I don't like it.
When I trade more than one instrument, I feel my concentration dissipating....
So I removed that barrier.
Many years ago I realized that it is better to choose one or two instruments and trade only them, learning them well.
The chart of the main pair in different timeframes is present everywhere - at home (all TFs), in my car (2 TFs), at work (3 TFs). And it is present 24 hours a day except weekends.
I have always had the pair's chart in front of me since 2002. I got used to the behaviour of the pair.
Of course, when I get tired, I turn it off to be on the safe side.
But very quickly, having "got bored", I turn it on again.
For me it is more or less predictable. And there is a lot of information about it.
That`s why I trade only on EUR/USD :-)) By the way, I noticed, that over the years the volume of trades on this currency pair increases significantly.
Of course, you can argue endlessly about what is right and what is wrong.
In my case, the rules are determined by practice and experience.
I can be confident when trading EUR/USD... But not in other pairs...
For example, I don't want to get into the problems of Japan, Switzerland, or Australia...
I just do not want to.
I tried to trade other pairs, but I don't like it.
When I trade more than one instrument, I feel my concentration dissipating...
So I shielded myself from this kind of barrier.
I realized years ago that it is better to choose one or two instruments and trade only them, learning them well.
The chart of the main pair in different timeframes is present everywhere - at home (all TFs), in my car (2 TFs), at work (3 TFs). And it is present 24 hours a day except weekends.
I have always had the pair's chart in front of me since 2002. I got used to the behaviour of the pair.
Of course, when I get tired, I turn it off to be on the safe side.
But very quickly, having "got bored", I turn it on again.
For me it is more or less predictable. And there is a lot of information about it.
That's why I trade only on EUR/USD :-))
If I may, would you be so kind as to stop writing like a poet? And you have a very small screen and that's why you put a line break so often?
I didn't know that line breaks interfere.
If I may, would you be so kind as to stop writing like a poet? And you have a very small screen and that's why you put a line break so often?