Libertarians take on trading

[MightyOne]

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[MightyOne]

So you wanna be an FX trader DIRTY

I wonder why price went all the way up there...

Anyone who initiated a short from way down there had it coming

Stay positive:

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[MightyOne]

"Don't pay attention to the man behind the desk selling bitcoin"

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[Libertarian]

"Don't pay attention to the man behind the desk selling bitcoin"

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On the screen in front of me right now "Yellen: Bitcoin is a speculative asset" - Oh you don't say



*actual picture of Janet Yellen.

[MightyOne]

On the screen in front of me right now "Yellen: Bitcoin is a speculative asset" - Oh you don't say

*actual picture of Janet Yellen.

Owner of a coffee shop asked me what I thought about bitcoin and I said "it might be heading to $100000, IDK, but what I do know is that it will eventually arrive at zero"

What ever happened to the 'contrarian investors' calling for gold 2000, 5000, & $10000? Crickets.
What's his name unloaded at 1850 and that was that...and that makes me wonder if we are going to see an 18500 liquidation of bitcoin.

Could bitcoin be a game of switcheroo: getting everyone out of gold and into the arms of a wolf for the simultaneous collapse of BTC and rise of gold?

...things that I keep in the back of my mind.

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[aliassmith]

Let's say that you are trading for $10/line and you make 2.5 lines.

Your size is now 10(10.5/8) or $13/line with 8.076 lines.

If you lose 2 lines then your size is 13(6.076/7) or $11/line with 7.180 lines (you're down about $1)
If you win 2.5 lines then your size is 13(10.576/8) or $17/line with 8.087 lines (+57.5 ish dollars, $137.50 risk-box)
If you lose 2 lines then your size is 17(6.087/7) or $14/line with 7.391 lines (you're at +$23.50 & if you lose again then you'll be at -$4.50)
If you win 2.5 lines then your size is 17(10.587/8) or $22/line with 8.180 lines (+100 ish dollars, $180 in the risk-box)

In 3 TP you made $100 and in 2 TP you'll add more than $100...
worst case scenario you lose $80.

Sit down at the table and 'Paper manage' your lines, go back and forth between wins and losses, go on winning and losing streaks, & see for yourself that being down money is no big deal: stacking heals all wounds.

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The exact action that you take depends more on observation, line width, and progress, than on a trade setup.

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I'm short from your line marked 4,2, and 1 on the gbp. Its tough for me to hold for this long. I'm trying for 100 more pips but we'll see if I can hold out.

After being up about 150 pips it spooked me to dump it at +95 pips....ugh! Better than zero.

[MightyOne]

After being up about 150 pips it spooked me to dump it at +95 pips....ugh! Better than zero.

How are you going to make pips if you don't risk pips?

[aliassmith]

After being up about 150 pips it spooked me to dump it at +95 pips....ugh! Better than zero.

How are you going to make pips if you don't risk pips?

Lol +95 pips is actually good. I was trying to test myself on bigger trades. It took 3 days of watching it and sitting on my hands. It felt like forever!

An observation I made was how price would leave an area and return to that area. It also looked like price liked to return to "opens" and extremes. Easier to notice actually being in a trade vs looking only at the chart.

[aliassmith]

After being up about 150 pips it spooked me to dump it at +95 pips....ugh! Better than zero.

How are you going to make pips if you don't risk pips?

Oh ya, I reversed just about where I bailed and its up 70 so far. Maybe this is the direction for a few hundred pips.

Edit: bailed again at 50

[Libertarian]

What I don't get about this is, why is it easier to trade the higher TF than the lower one. Isn't a chart a chart? Is it because were still trading the weekly from a smaller chart and therefore we get a lot more cracks at getting the move? I know i'm missing something about this idea.

EDIT: this is an example of coming back from getting your a++ handed to you.

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