Reading these charts is easy!
Posted: Tue Sep 14, 2010 1:40 am
Hello,
I've been following TRO quietly for a few years now. I was new to forex when I found NLA and have learned so much from all of you.
A while back I figured I would throw my Christmas bonus into a micro account and have a go at it. I ended up making silly mistakes (ie. closing the broker window with open orders i had forgotten about) and getting very emotional about all the tiny ups and downs of a five minute chart. I lost 50 % of the account and was really mad.
Months have gone by and I decided to pick it up again recently. I thought I knew entries, trade management, exits, using H4 for held profit and M15/5 for fine tuning, but in the heat of battle I fell apart! I found myself trading short into the recent EU rise. Why?? Because I wanted the best entry at the very top of a subsequent move down. Well I kept getting it wrong.. and I got entranced by the M5 and M15 going up and down. I got short when I saw red and then it would turn green and run way up. I would get out for a loss. So I figured since I was wrong I would trade the other way! That should solve it.. so I go Long. It pulls back.. and this time I'm in for more units since I want to make up losses! So i get out again cause it's too much pain for such a small move. Does this sound familiar to anyone? I made over 20 trades in a few hours and still couldn't commit to a direction. I was scared of being wrong.
So I sold off everything after almost halving my account again. I waited.. took a step back. Then it started happening. Things were clicking into place and I said to myself, I'll wait to strike at the right moment this time. It paid off, I got it right and put enough confidence behind my decisions to let it play out. I'm pretty sure I found the precise point on the M5 that Dragon or any other pro would enter on. I learned a lot today. Reading the charts on the Kreslik forums is easy! Getting through the real live moment is a challenge worth conquering. I still have along way to go, but I'm in it to win. Thank you all for posting.
Hf230
I've been following TRO quietly for a few years now. I was new to forex when I found NLA and have learned so much from all of you.
A while back I figured I would throw my Christmas bonus into a micro account and have a go at it. I ended up making silly mistakes (ie. closing the broker window with open orders i had forgotten about) and getting very emotional about all the tiny ups and downs of a five minute chart. I lost 50 % of the account and was really mad.
Months have gone by and I decided to pick it up again recently. I thought I knew entries, trade management, exits, using H4 for held profit and M15/5 for fine tuning, but in the heat of battle I fell apart! I found myself trading short into the recent EU rise. Why?? Because I wanted the best entry at the very top of a subsequent move down. Well I kept getting it wrong.. and I got entranced by the M5 and M15 going up and down. I got short when I saw red and then it would turn green and run way up. I would get out for a loss. So I figured since I was wrong I would trade the other way! That should solve it.. so I go Long. It pulls back.. and this time I'm in for more units since I want to make up losses! So i get out again cause it's too much pain for such a small move. Does this sound familiar to anyone? I made over 20 trades in a few hours and still couldn't commit to a direction. I was scared of being wrong.
So I sold off everything after almost halving my account again. I waited.. took a step back. Then it started happening. Things were clicking into place and I said to myself, I'll wait to strike at the right moment this time. It paid off, I got it right and put enough confidence behind my decisions to let it play out. I'm pretty sure I found the precise point on the M5 that Dragon or any other pro would enter on. I learned a lot today. Reading the charts on the Kreslik forums is easy! Getting through the real live moment is a challenge worth conquering. I still have along way to go, but I'm in it to win. Thank you all for posting.
Hf230
napoleon hill rocks.. 3clipz originally set me up on that book and it sure was an inspiration and an eye opener