Dissecting a loss

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TheRumpledOne
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Dissecting a loss

Postby TheRumpledOne » Thu Aug 11, 2011 8:26 pm

Dissecting a loss

When you incur a loss do you dissect it?

Every loss has two components:

1) Technical

2) Psychological

When you determine the technical errors and psychological errors, you can then eliminate those from your trading.

THINK ABOUT IT!

I was watching this video:

http://www.youtube.com/watch?v=gTZS3SqpT-o
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby bettlebox » Fri Aug 12, 2011 11:42 am

thanks TRO great vid.

So true and so relevant.
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Postby TheRumpledOne » Sat Aug 13, 2011 6:38 pm

Image

Have you ever traded WITHOUT candles or bars?

If not, what is the reason?

Are you afraid to try this?

How many "errors" would you eliminate if you traded without bars or candles?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby bettlebox » Sat Aug 13, 2011 7:20 pm

Tro,

Wow ok

seeing a blank chart like this is pretty scray all you got to go on is price and time.

How would you even gauge were price is going? all i can think of is set a fixed line and trade away or back to that line.

one thing you could say is the more price moves in a given period time, the more buying or selling that is going on.

im so used to looking previous swing highs and lows to gauge my S/L and take profit areas. Just thinking about it freaks me out.

ok

i would pick a line, let price move away from that line and jump in a trade with that direction.

If my position survives a given period time say "X" i will move my S/L up. I will still have take profits targets 1:1 and 2:1 etc. If price stalls ie does move for another given amount time i bail. This is only way i can think of trading like this.

To be honest i would be afraid to trade like this.
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Postby TheRumpledOne » Sat Aug 13, 2011 11:48 pm

"To be honest i would be afraid to trade like this. "

Where does that fear come from?

What is the reason you create fear?

You don't know with certainty if your next trade is going to win or lose, so what is there to fear?

If you set a STOP LOSS after entry, that's the worse case - you get stopped out. So what are you really afraid of?

Are you afraid of trading without technical tools?
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Postby bettlebox » Sun Aug 14, 2011 7:42 am

Where does the fear come from? comes from my pass experience of knowing if i jump into market at any old point you will lose. Jumping into a trade to early, and to have that trade turn on you . These are painful expriences from early days as wannbe trader.

I agree no matter how many trade you put on theres always level of doubt in back your mind. That doubt is held at bay by all technical tools allowing me to trade. Take those away im over run by doubt like someone who doesnt know anything.

But having said all that i can see how it could benefit trading. ie its just you and price and you follow every ebb and flow of movement. I can imagine with practise you would learn a great deal just from making effort to trade this way.

I want to try it. I will Demo it for a month, 30mins a day as my homework :) .
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Postby TheRumpledOne » Sun Aug 14, 2011 2:44 pm

"...experience of knowing if i jump into market at any old point you will lose."

Do you KNOW that if you jump into market at a CERTAIN point you WON'T lose? OF COURSE, NOT!! It's called TRADING!! Do not fool yourself.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby bettlebox » Sun Aug 14, 2011 6:02 pm

thats true , as you keep saying TRO "anything can happen".

all i do know is my S/L and how much i could potentially lose. How much markets what to give you is different matter.

Im looking at how i trade i always waiting for price to come to me and once its generated a "Setup" i trade. What am i doing? im waiting for a certain amount of time for price to move to certain level to trigger an enter.

So i have to ask myself why im waiting for price to move to my trigger. Why dont i just remove my trigger and look for price moving that amount an entry. In most cases price has already moved a large amount before it gets to my trigger. umm
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Postby bettlebox » Mon Aug 15, 2011 5:35 pm

ok so i play 30 mins well its was just under hour. At 16.50 on eurusd.

i did severvak trades on the 5 min internal soon as it move 1 pip in a direction i jumped in. first trade =-3.40

so i closed this trade at end 5mins my thinking was its moved -3.40 against me so i will go short on next 5mins = -3.00

I changed direction back to my original direction , long,= +2.40

it was just after 17.00 so i took a long position because price was above the opening. Just left it for 1 hour. = +4.20

what did i learn? umm not sure. Maybe i need to wait bit more. Maybe the time of day is not best time to be playing. Its only day1 rome wasnt built in a day.
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Postby MightyOne » Mon Aug 15, 2011 5:59 pm

One of my fav. trading methods is Forum trading.

what is your SL & TP?

at what price will your entry be signaled?

what is the longest string of losers in your last ten trades?

what pairs are you trading now?

with those pieces of information, collected from popular threads, I can build a plan of attack w/ out the help of a chart (others have already did all the work).

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