Never Lose Again
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same here gutek04. I guess we need to be Napoleon and be able to multitask to make sure all TF are going in the same direction. I guess this is why not many people are successful. Everyone is telling us , don't think , SEE. But when you have to check all those TF you're starting to thinking 1D is ZL short , 4H was long , 1H is short , what should I do , what should I do ...
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Remember this is not science. Anything can happen; it's a probability game that requires to cut losses short and let profits run.
I think the last post of es/pip is spot on.
I don't wait any more to cut a trade before it hits s/l. If my assessment was wrong, I wait for the next best chance to enter in the right direction. I had this twice today, the damage was limited to 16 pips. In return this investment told me which direction to go.
Almost everything we need to know to make this work is in this thread. If it doesn't work for you, or in case you don't know for a moment what to do, re-read everything and try again. You will notice that you start to understand things you didn't understand before or simply overlooked.
Repeat until it works for you and drain some banks for your own sake. Drain or be drained !
I think the last post of es/pip is spot on.
I don't wait any more to cut a trade before it hits s/l. If my assessment was wrong, I wait for the next best chance to enter in the right direction. I had this twice today, the damage was limited to 16 pips. In return this investment told me which direction to go.
Almost everything we need to know to make this work is in this thread. If it doesn't work for you, or in case you don't know for a moment what to do, re-read everything and try again. You will notice that you start to understand things you didn't understand before or simply overlooked.
Repeat until it works for you and drain some banks for your own sake. Drain or be drained !
There's no business like [strike]show[/strike] covid19 business.
- Patch
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Lukx
Great picture for your id icon !!! If dragon33, es/pip, TRO, dchappy, MO, monolisa and many others on this board can trade profitably, you and I can too. None of these men and women are all that smart--just pit bulls who where all too dumb to quit.
Would you do me a favor and go through this thread and save every chart posted by es/pip in one file, and cut and paste all of his posts into a spread sheet patterned after the on I sent along to you a short time ago? I am working on pages 201-300 right now.
Add one thing to your list of look and see and think, and add you gotta stud this thread as though your life depends on it. Burn the bridges and burn the boats -- there is no turning back no matter how many steps forward and back you have. So what in 6 to 12 or 18 or however many months it takes to get it and see it, you will look back and know its all worth it.
We gotta man up.
Patch
Great picture for your id icon !!! If dragon33, es/pip, TRO, dchappy, MO, monolisa and many others on this board can trade profitably, you and I can too. None of these men and women are all that smart--just pit bulls who where all too dumb to quit.
Would you do me a favor and go through this thread and save every chart posted by es/pip in one file, and cut and paste all of his posts into a spread sheet patterned after the on I sent along to you a short time ago? I am working on pages 201-300 right now.
Add one thing to your list of look and see and think, and add you gotta stud this thread as though your life depends on it. Burn the bridges and burn the boats -- there is no turning back no matter how many steps forward and back you have. So what in 6 to 12 or 18 or however many months it takes to get it and see it, you will look back and know its all worth it.
We gotta man up.
Patch
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO
- aliassmith
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gutek04 wrote:alliasmith, i did not understand why You have entered first trade... It doesnt look like MO trade. Seckond one is perfect!
To me the first trade was a MZ trade. As es/pips says its a S/R trade away from the MZ. Problem was that the price rocketed thru and did not show signs of stopping. I should be looking for some type of pull back at least.
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- aliassmith
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es/pip wrote:PA wasn't perfect---- i agree
i mean i haven't made 500 pips or anything but i am up an ok amount--- not sure i never count them
i can still see that people refuse to use the 5 min close to tell them to get out and taking there full stop. My 20 pip hard stop is a disaster stop if you will. It is only there to protect me if it just rips on me when i get in, or if a 5 min bar rips against me without giving me a chance to get out at a better price.
MO, Dragon and I rarely take a full stop---- but everyone seems to take them without hesitation.
a 60 pip stop is nonsense----- unless it is built up from profits---like MO was showing
just bec you have a zl doesn't mean you take the trade---- especially after multiple bars
--- again no one wants to look inside for some reason
-- if you are watching a h4 zl from 8 days ago and trading it off that zl directly----- how do you have momo showing you the way? You don't.
no one should be trading gbp/jpy in my opinion---- at least not yet.
----------- trade the pound, the euro or the ej-- preferably the pound or euro to start
i don't understand a majority of the charts( and reasoning) posted
everything that Dragon and i learned is in this thread---- i get the feeling that people have jumped into the thread/discussion without spending the time to learn it and read the thread.
Sorry ES/PIPS,
I'll refrain from posting my M5 stuff. Then again maybe I should be looking inside at the M1 to "look inside" the M5
- TheRumpledOne
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" i get the feeling that people have jumped into the thread/discussion without spending the time to learn it and read the thread. "
How about you posting a synopsis in your own words to help your fellow traders out.
How about you posting a synopsis in your own words to help your fellow traders out.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
- pablo101
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TheRumpledOne wrote:" i get the feeling that people have jumped into the thread/discussion without spending the time to learn it and read the thread. "
How about you posting a synopsis in your own words to help your fellow traders out.
I read it read three times and doing much better
Last edited by pablo101 on Tue May 04, 2010 4:29 am, edited 2 times in total.
lukx wrote:I just traveled in time and I'm where I was last week, balance wise .
Lost all the profit, same old story.
Now I can't gt this song out of my head "I'm a loser baby, so why don't you kill me"
Sometimes there are days you can not take hunderds of pips. If price is in a major zone (where price was several times) that means there is a lot of support or resistance.
What is the main thing when you hit those areas! You simple trade away from it. That is what you have seen yesterday on GU.
The reason why we watch several tmf's is to look for opportunities which bring in some cash. Sometimes it is a bit harder then other days.
Do you see any opportunity on the picture below?
Same picture but no real opportunities to me
Aha maybe you can see them here
Remember everything starts with the highest momentum you can find. The higher is always the boss. You pick those areas to target or for entry. But when you can't see clearly you start switching tmf
When you all had looked on the daily then you would have known that the probability to trade upwards was bigger.
Trading is like cycling, first you need to learn how.
Two options: you either lose or win!
Two options: you either lose or win!
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