Yes a losing trade time to learn

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bettlebox
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Yes a losing trade time to learn

Postby bettlebox » Thu Mar 18, 2010 10:58 am

Hi

i took this trade on EUR/USD today at 8am H1 was up and D1 was down. i entred at trigger line. The very next bar turned against me closed at -19 pip lose.

my thoughts are this what TRO would say, "anything could happen".

Is there anything i could done differently to spotted this?

I know i could of closed it bit sooner this something i need to work on.

any comments would be appreicated.

http://picasaweb.google.co.uk/lh/photo/ ... directlink

BB


NB: im not playing rat zone. Im think you call buyzone plays .

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Postby Pro Trader » Thu Mar 18, 2010 11:20 am

I'm not really sure what trades your taking.

In your OMG I GOT!!! thread you mentioned DTB now above your saying BZ.

As far as I'm aware DTB trades are reverals. Those are the trades that I take. Entry should have been a few bars earlier black candle close, white candle close then long at white candle high. Not sure where H1 was then though I cant see from your chart.

Have you seen the http://kreslik.com/forums/viewtopic.php?t=2095 thread?

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Postby bettlebox » Thu Mar 18, 2010 11:43 am

Yea im getting confused by all these different name buyzone,DTB,rat trading.

Im using that trades off reversals :- whatever people like to call it here im not too clear on that. I havent read that thread yet. I have been reading babypips old archive thread attempting to follow what people were doing right back step one in this whole thing. Its funny actual to read peoples first post they had same problems with learning this. These people asked tons questions all were answered. They should remember were they come from and help they received. its all babypips archive.

anyway i didnt take trade early becuase at that time the H1 was down. As time rolled over to the new hour it changed to up so i jumped in.


Pro Trader wrote:I'm not really sure what trades your taking.

In your OMG I GOT!!! thread you mentioned DTB now above your saying BZ.

As far as I'm aware DTB trades are reverals. Those are the trades that I take. Entry should have been a few bars earlier black candle close, white candle close then long at white candle high. Not sure where H1 was then though I cant see from your chart.

Have you seen the http://kreslik.com/forums/viewtopic.php?t=2095 thread?

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newschool
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Postby newschool » Thu Mar 18, 2010 11:48 am

You are trading semas. You will grow out of it .

Also plz post in the same journal thread you created.

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Postby Pro Trader » Thu Mar 18, 2010 11:49 am

I'm not sure whats in that babypips thread so I cannot comment.

I would recommend reading the thread in the link I just sent though. Thats the DTB thread. It's where most of my questions on DTB were answered. That and the Two Percent Club on PalTalk

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Postby Pro Trader » Thu Mar 18, 2010 11:51 am

newschool I agree.

I no longer use semas

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bettlebox
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Postby bettlebox » Thu Mar 18, 2010 10:10 pm

Another bit puzzle falls into place.

It took 10 hours to find one post buried in 3000 post thread. But I found answer.



Im still doing a youtube explaining the way im trading im doing. For everyone to benefit from.

of course ill tro to approve it first.

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Postby adaseb » Fri Mar 19, 2010 1:28 am

What you need to understand is that sometimes price does something totally unexpected and there is nothing you could of done to spot it.

I find anyone who states that they win 100% of the time a complete liar.

You can't win 100% of the time because unexpected events occur, do you remember Bernacke unexpectedly raised the interest rate about a month ago after the NY close? Do you remember what happened immediately to all the markets?

Most people I know they got like a 60-65% win rate and they make a good living trading like that, stocks or forex. What they do is keep their loses small and let their winners run.

Sometimes I myself got a 50/50 or less win rate, why I make money is because I might cut a loser trade at -20 pips but get a winner that nets me 100 pips.

Stop trying to seek a "holy grail" 100% unloserable method, it doesn't exist.

Accept the fact that you might only win 60% of the time and use that to your advantage.

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Postby bettlebox » Fri Mar 19, 2010 8:21 am

hi Adaseb

yes very true i will take this on board

BB

adaseb wrote:What you need to understand is that sometimes price does something totally unexpected and there is nothing you could of done to spot it.

I find anyone who states that they win 100% of the time a complete liar.

You can't win 100% of the time because unexpected events occur, do you remember Bernacke unexpectedly raised the interest rate about a month ago after the NY close? Do you remember what happened immediately to all the markets?

Most people I know they got like a 60-65% win rate and they make a good living trading like that, stocks or forex. What they do is keep their loses small and let their winners run.

Sometimes I myself got a 50/50 or less win rate, why I make money is because I might cut a loser trade at -20 pips but get a winner that nets me 100 pips.

Stop trying to seek a "holy grail" 100% unloserable method, it doesn't exist.

Accept the fact that you might only win 60% of the time and use that to your advantage.

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Re: Yes a losing trade time to learn

Postby TheRumpledOne » Fri Mar 19, 2010 7:14 pm

bettlebox wrote:Hi

i took this trade on EUR/USD today at 8am H1 was up and D1 was down. i entred at trigger line. The very next bar turned against me closed at -19 pip lose.

my thoughts are this what TRO would say, "anything could happen".

Is there anything i could done differently to spotted this?

I know i could of closed it bit sooner this something i need to work on.

any comments would be appreicated.

http://picasaweb.google.co.uk/lh/photo/ ... directlink

BB


NB: im not playing rat zone. Im think you call buyzone plays .



Price had moved up quite a bit before you entered. Have you read about BUZZARD REVERSALS?


BUZZARD REVERSAL - after 3 or more consecutive like-colored H1 candles.. you wait for the current candle to reverse in color
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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