70% Account Drawdawn.

If you don't know where to start, start here! Don't be afraid to ask questions.

Moderator: moderators

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

Postby adaseb » Tue Nov 16, 2010 11:43 pm

By the way i don't make this much everyday. It was just a good day and I anticipated this move from the last few days.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
newschool
rank: 150+ posts
rank: 150+ posts
Posts: 489
Joined: Fri Aug 21, 2009 2:26 am
Reputation: 0
Gender: Male

Postby newschool » Wed Nov 17, 2010 5:35 am

I hope this good trading means you won't be freezing your b*lls in Canada this winter adaseb...

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

Postby adaseb » Wed Nov 17, 2010 5:56 am

newschool wrote:I hope this good trading means you won't be freezing your b*lls in Canada this winter adaseb...


I don't really mind the weather because I work at home.

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

Postby adaseb » Wed Nov 17, 2010 6:12 am

It's not really good trading, its more like waiting for opportunities.

For example this euro short I took yesterday, it couldn't of been easier. At a fib retracement and at a resistance area.

Or today shorting AAPL below the $300 break where most amateurs put their stops. A trade that can't fail because you know once those stops get hit a domini effect will occur. I didn't make any $ on that trade because I though it would go down lower but it didn't unfortuntely and got out at b/e minus commissions.

Or todays short of the GBP when it broke the 50's support.

You just need to be patience and wait for opportunities.

Image

User avatar
genlogins
rank: 150+ posts
rank: 150+ posts
Posts: 153
Joined: Wed Jun 23, 2010 3:39 pm
Reputation: 0
Gender: None specified

Postby genlogins » Wed Nov 17, 2010 10:10 am




YEs, I did wait a lont time watching the screen for every minute last 16th, and than $$$$$ catching $$$$$$$

Please read the NLA thread, there is more, and I would appreciate your views.



You don't use anything else? just fibs, no TRO stuff?

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
genlogins
rank: 150+ posts
rank: 150+ posts
Posts: 153
Joined: Wed Jun 23, 2010 3:39 pm
Reputation: 0
Gender: None specified

Postby genlogins » Wed Nov 17, 2010 10:13 am

I did use fibs today, but I feel i need to read more about those fibs.

any good book, or ebook?
================================================

The Way To Money Is Using Simplicity And Take Small Loses

================================================

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

Postby adaseb » Wed Nov 17, 2010 1:46 pm

Fibs are pretty easy.

Just google it.

You just pick a common high or low, like the swing high/low or daily high/low and pay attention to the 31.8 and 68.2 areas.

Just make sure your orientation is right.

When you draw fibs like 1000 times you pretty much get the hang of it.

xtremeforex
rank: 50+ posts
rank: 50+ posts
Posts: 114
Joined: Mon Nov 16, 2009 7:43 pm
Reputation: 0
Location: Toronto
Gender: None specified

Postby xtremeforex » Wed Nov 17, 2010 2:05 pm

I am too lazy to read the entire thread so I am unsure if this has already been answered.

When in a massive draw-down, it might be worth your while to keep trading but significantly reducing your trade size. You may be able to deplete your draw-down, to prevent it from getting bigger but it is gonna take some time and your attention. Think of it like building support for the draw-down so it doesn't get bigger until the situation reverses in your favour again.

This could take days, weeks or months even, so don't give up and be patient.

Also, if you're demo-ing, being in draw-down is an excellent learning opportunity, don't simply just close trades and restart the demo, but instead use this opportunity to learn tactics to get out of it otherwise when it happens in real-life you will have no recovery experience. Learning how to handle draw-down will also significantly boost your confidence when you have experienced nightmare scenarios and have learned to survive them.

User avatar
adaseb
rank: 500+ posts
rank: 500+ posts
Posts: 871
Joined: Fri Aug 21, 2009 5:20 am
Reputation: 0
Gender: None specified

Postby adaseb » Wed Nov 17, 2010 3:15 pm

xtremeforex,


dude why you bringing back all the thread from the dead?

xtremeforex
rank: 50+ posts
rank: 50+ posts
Posts: 114
Joined: Mon Nov 16, 2009 7:43 pm
Reputation: 0
Location: Toronto
Gender: None specified

Postby xtremeforex » Wed Nov 17, 2010 4:57 pm

??

The couple of posts before mine show posts from today???...

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”