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