Forex trading live calls and set ups

[DDI]

missed opportunities for me today. I dont know about you guys but there are times with me where all the conditions for an entry based on my system are there but i just dont feel comfortable trading them! perhaps dont like the look of the chart maybe! Does this happen with you guys?

I had a buy signal of EURCHF at 12547 and a sell on gold at 1397. didnt feel comfortable with any of them! maybe i should take them with small stakes

 

[pocrel]

banking +27 on the eur/usd

poor discipline again on the trade should have waited for my target to be met but again my failings as a trader let me down

here is the chart

 

[Black Swan]

poor discipline again on the trade should have waited for my target to be met but again my failings as a trader let me down

here is the chart

View attachment 99076

Reduce size so staying in isn't an issue, or raise size and be happy with pip target..?

Second scenario may be right for you as iirc you spread bet FX and get far more winners than losers but you tend to puke around 20 pips. You might think "fook it, 20 quid per pip, made 400 quid, job done, let's grab tacos, down a few margueritas and get to the beach.." Just a thought..

 

[Lord Flasheart]

poor discipline again on the trade should have waited for my target to be met but again my failings as a trader let me down

here is the chart

View attachment 99076

id like to have failed like you today,im 150 down but no prob as I stuck to rules

 

[Black Swan]

missed opportunities for me today. I dont know about you guys but there are times with me where all the conditions for an entry based on my system are there but i just dont feel comfortable trading them! perhaps dont like the look of the chart maybe! Does this happen with you guys?

I had a buy signal of EURCHF at 12547 and a sell on gold at 1397. didnt feel comfortable with any of them! maybe i should take them with small stakes

Of course, surely most of us are guilty of that. Mark Douglas is fond of suggesting you need to re-set your mind before and after each trade.

You have to defrag your short term memory, each trade is individual, history ryhmes it doesn't repeat, but you have to take the signals you get otherwise the prollys can never work in your favour.

 

[pocrel]

Reduce size so staying in isn't an issue, or raise size and be happy with pip target..?

Second scenario may be right for you as iirc you spread bet FX and get far more winners than losers but you tend to puke around 20 pips. You might think "fook it, 20 quid per pip, made 400 quid, job done, let's grab tacos, down a few margueritas and get to the beach.." Just a thought..

are you gone mad BS its freezing here in london but i am in sydney next sunday so i might do that down bondi with my brother

yeah size is not the problem if i am in a t 1 a point or 20 a point i still do the damn same thing, it is a mental stumbling block

what i am doing at the moment is looking for a programmer to develop my system so i dont really need to be involved i am am just a hinderence to a great system

also i am starting to manage other peoples money so i need to shake off this indiscipline crap as i will have them to answer too

 

[Lord Flasheart]

if id had my stop a further 6 pts on eur/jpy and eu id have made 150 pips instead of losing.Its a fine line

 

[Black Swan]

are you gone mad BS its freezing here in london but i am in sydney next sunday so i might do that down bondi with my brother

yeah size is not the problem if i am in a t 1 a point or 20 a point i still do the damn same thing, it is a mental stumbling block

what i am doing at the moment is looking for a programmer to develop my system so i dont really need to be involved i am am just a hinderence to a great system

also i am starting to manage other peoples money so i need to shake off this indiscipline crap as i will have them to answer too

You don't need a programmer check out strategy trader with fxcm, that'll automate for you, know a guy that is having it off with it atm..It is actually (imho) a cracking piece of kit/software, I should be right onto it but too many other things on my to do list..

Find Jason Rogers on the fxcm thread and he'll point you in the right direction, would post up a link but if you sign up T2W would get some money LOL...

 

[redart]

Blackswan:
Talking of FXCM, I downloaded their demo the other day to play with.
Why does my platform and charts etc look so different from the ones you and (I tihnk Vaco)
post?
cheers

 

[DDI]

short USDJPY 8198 stop 8230. a reversal signal which are less reliable (than momentum ones) but took it anyway. wouldnt have taken it had i been a good boy and taken my momentum signals on gold and eurchf.

lets see what happens..although its a reversal on 15 min chart, on daily it could be trend continuation! so fingers crossed

 

[DDI]

short USDJPY 8198 stop 8230.

moved stop to 8210

 

[Vaco]

if id had my stop a further 6 pts on eur/jpy and eu id have made 150 pips instead of losing.Its a fine line

when you placed your stop, did you realise it was at a pivot? (r2)

 

[Lord Flasheart]

when you placed your stop, did you realise it was at a pivot? (r2)

no i didnt, thanks for pointing it out. Are the pivots your refering to based on 12 am-12 am. Thanks

 

[DDI]

moved stop to 8210

stopped at 8210 for -12

 

[DDI]

if id had my stop a further 6 pts on eur/jpy and eu id have made 150 pips instead of losing.Its a fine line

ouch..unlucky..it happens to all of us, but so does the opposite (where from almost hitting your stop, it reverses and goes your way)

 

[DDI]

short eurusd 13277 stop 13335

 

[Vaco]

no i didnt, thanks for pointing it out. Are the pivots your refering to based on 12 am-12 am. Thanks

I believe they are calculated using 5pm eastern so 10pm uk time.

 

[pocrel]

I believe they are calculated using 5pm eastern so 10pm uk time.

pivots in the forex market are alittle bit different to the index pivot points

the reason being is the forex market is 24 hours were say the ftse has an open and a close

so you have to take perhaps an average of the forex market perhaps anywhere between 10 and 12 in the evening, you will notice that different sites have differnet calculations for this reason it all depends when they take the high low and close

so becareful and try to take it as more of an area instead of an exact point on the chart

hope that makes sense

 

[Vaco]

pivots in the forex market are alittle bit different to the index pivot points

the reason being is the forex market is 24 hours were say the ftse has an open and a close

so you have to take perhaps an average of the forex market perhaps anywhere between 10 and 12 in the evening, you will notice that different sites have differnet calculations for this reason it all depends when they take the high low and close

so becareful and try to take it as more of an area instead of an exact point on the chart

hope that makes sense

5pm eastern is what is most widely used, open/close is normally the same figure. Regardless of what your trading its always an area to watch rather then an exact point.

 

[DDI]

short NZDUSD7630 stop 7690, limit 7687