Never Lose Again

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pierre23
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Postby pierre23 » Wed Feb 18, 2009 2:54 am

I think when he said grey he meant red??

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MightyOne
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Postby MightyOne » Wed Feb 18, 2009 3:04 am

TheRumpledOne wrote:Would you zero line posters PLEASE state your entry/exit price/time so I can follow along? Thanks.

Dragon, are you color blind? I see red/green candles... no gray candles!!


I think he was responding to cfabian's gray candled chart...

And sure TRO, since you asked so kindly :wink:

I will also place a large "X" inside a square when posting charts where I did not actually take the trades shown.

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cfabian
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Postby cfabian » Wed Feb 18, 2009 3:54 am

MightyOne wrote:
TheRumpledOne wrote:Would you zero line posters PLEASE state your entry/exit price/time so I can follow along? Thanks.

Dragon, are you color blind? I see red/green candles... no gray candles!!


I think he was responding to cfabian's gray candled chart...

And sure TRO, since you asked so kindly :wink:

I will also place a large "X" inside a square when posting charts where I did not actually take the trades shown.


Thanks es/pip and Dragon for your comments.

Mighty, can you be so kind and elaborate as well on the 2 charts I posted today? es/pip and Dragon are also asking for your comments.

Thanks for your thoughts.

Best to all

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MightyOne
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Postby MightyOne » Wed Feb 18, 2009 4:10 am

cfabian wrote:
blubbb wrote:I have a strange request. Some of you "pros" already posted a lot of winning trades. I'd like to see some of your losing ones as well. If a trade goes into into the right direction right from the start, it's not really difficult to be profitable... But we all know that we have to take losses as well. So I'm interested in (maybe M1) charts where you had to make the decision when to stop.


I've plenty of those blubbb, as it seems to be my constant in forex. It's been really disapointing to me so far...

Mighty, Dragon, es/pip and else... what do you see on this picture? Am I picking the wrong ZL, or it was ok, but just unprofitable trade?

Cheers

Image


Before I answer this I want you to try and absorb this picture:



Image

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cfabian
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Postby cfabian » Wed Feb 18, 2009 4:29 am

MightyOne wrote:
cfabian wrote:
blubbb wrote:I have a strange request. Some of you "pros" already posted a lot of winning trades. I'd like to see some of your losing ones as well. If a trade goes into into the right direction right from the start, it's not really difficult to be profitable... But we all know that we have to take losses as well. So I'm interested in (maybe M1) charts where you had to make the decision when to stop.


I've plenty of those blubbb, as it seems to be my constant in forex. It's been really disapointing to me so far...

Mighty, Dragon, es/pip and else... what do you see on this picture? Am I picking the wrong ZL, or it was ok, but just unprofitable trade?

Cheers

Image


Before I answer this I want you to try and absorb this picture:



Image


Ok MO,
I guess what you're trying to show is that for a body to be valid, aside from being in profit direction, color should be consistant as well??? Or this is a stupid answer?

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MightyOne
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Postby MightyOne » Wed Feb 18, 2009 6:48 am

The problem is that multiple bars were created with stronger closes heading toward the ZL.
Sure it hesitated at the line, but that is just not good enough.

Had this been a larger time frame like an hourly chart then you would have just dropped down a few time frames and traded away from where price placed a wick in the direction of loss by waiting for a body in the direction of profit (1) and a wick in the direction of loss (2).

The reason you shouldn't just short is that you have lost your body in the direction of profit for the short trade when multiple bullish bars are planting bodies in the direction of profit to the long side.

In your chart you ignored the increasing bearish momentum and then wondered why price didn't stop and reverse at your order.

When you use words like "valid" it makes me think that you are trying to apply this as a system when it is not.

TRADE WHAT YOU SEE NOT WHAT I TELL YOU TO SEE UNLESS IT IS WHAT YOU SEE [-X

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dragon33
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Postby dragon33 » Wed Feb 18, 2009 9:37 am

TheRumpledOne wrote:Would you zero line posters PLEASE state your entry/exit price/time so I can follow along? Thanks.

Dragon, are you color blind? I see red/green candles... no gray candles!!


It was late in the evening so my eyes where almost closed. Lol
The gray candle where from the other picture not mine. I was answering to that picture!

BlowFish
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Postby BlowFish » Wed Feb 18, 2009 11:17 am

RazorBoy said :-

with every trade, you can either be right or wrong. Just dont dwell on being wrong, that will kill you more than anything - except maybe bad risk management. Also, don't dwell on being right too much either.........

______________________

I have to say (imho) this is fundamentally flawed (hope you don't mind RB!). All the time you equate winners with being right and losers with being wrong you are setting up for long term emotional disaster.

Strive to be 'right' all the time which means executing flawlessly regardless of outcome. The only time you are 'wrong' (and this is regardless of the outcome) is if you trade outside your plan/rules. Easier said than done of course.

On the subject of looking at losing trades, personally I think it's valuable. Basically you need to know exactly what you are going to do whatever price does, including moving against you. I don't know for sure but can't help thinking that by presenting winners only it insidiously changes peoples perception of what is possible or even likely. I can't see how it can not induce perceptional bias....something dangerous in the markets (imho again). Of course I am not saying dwell on your losers just learn to recognise when things aren't playing out.

mthomas
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Postby mthomas » Wed Feb 18, 2009 11:43 am

the Big 3 is not the automakers
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es/pip
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Postby es/pip » Wed Feb 18, 2009 11:46 am

:shock:

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