JillyB
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The system has just registered a break-even trade - it wasn't in profit at 7.40am - so limit was reset - and what happens then??? It goes charging away just after the exit.
So break-even for the system and +5 pips for me - due to a better entry.
oiltanker
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interest rate day so i'll be staying away from anything with a £ or E in the cross till direction established.
everything looking flat. the only thing with any kind of smooth trend [for me] is the yen crosses. so i am waiting for a breakout to downside
everything looking flat. the only thing with any kind of smooth trend [for me] is the yen crosses. so i am waiting for a breakout to downside
MSP Trader
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Good day eveyone, cable didn't give much for me yesterday only managed a +16 +14 +16 so a bit of a poor day for a position trader lol, waiting for the next trend to show it's self, after all the sun is shining and who wants to sit inside lol.
would agree with oiltanker and wait after the intrest rates this lunch time, hope the day fair's you all well.
would agree with oiltanker and wait after the intrest rates this lunch time, hope the day fair's you all well.
Offshore Trader
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Long cable and EUR/JPY. I'm viewing the price action since yesterday lunchtime as a continuation pattern, so expect a break higher.
MSP if you can make +46 on a poor day, you'll be very rich soon!
MSP if you can make +46 on a poor day, you'll be very rich soon!
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rav700
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Good Morning all,
I thought I would just say a quick hi to all of you hope trading is going well..
My thoughts on today...We should see a visit to 330 region before 12:00 and then may be a 10- 12 pips at a max on news and then we should see a nice ride down south...
Will post my trades nearer the time....
Nice to see you on the boards again OT... where is Jacinto now adays and DC2000 anyone
I thought I would just say a quick hi to all of you hope trading is going well..
My thoughts on today...We should see a visit to 330 region before 12:00 and then may be a 10- 12 pips at a max on news and then we should see a nice ride down south...
Will post my trades nearer the time....
Nice to see you on the boards again OT... where is Jacinto now adays and DC2000 anyone
MSP Trader
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Hi all
Can i throw a question into the area? replys welcome lol...... here goes.
I know we all trade our own methords and systems which we have used over the months, years, but at what point do you question it? what i mean is, we know by something inside that the market is going to short/long but our systems haven't picked it up yet, do you follow your inner thoughts or wait for your system?
the reason why i ask this, i have traded for around 3 years now by myself and not belonged to a site like this, (which is good to be able to chat to like minded people and not my wife who just says hmmmmm whatever)but reading diffent peoples posts it got me questiong myself lol.
thanks in advance.
Can i throw a question into the area? replys welcome lol...... here goes.
I know we all trade our own methords and systems which we have used over the months, years, but at what point do you question it? what i mean is, we know by something inside that the market is going to short/long but our systems haven't picked it up yet, do you follow your inner thoughts or wait for your system?
the reason why i ask this, i have traded for around 3 years now by myself and not belonged to a site like this, (which is good to be able to chat to like minded people and not my wife who just says hmmmmm whatever)but reading diffent peoples posts it got me questiong myself lol.
thanks in advance.
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JillyB
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My answer to that is to stick with your own system. Read what everyone else posts, but stick with your own trading plan. Even your own instincts can be wrong and emotions can be a dangerous thing. Sometimes I question my own system - recently it suggested a long trade and I thought 'surely not, it can't go much higher'. But it did and I missed out on 60 pips overnight.
More recently the system has had a string of losing trades and I've been questioning it even more, but I have to trust it and it's really hard when I'm down £££'s because of it.
I am lucky though in that my partner trades as well - so conversation at home is always trading biased. However he trades very differently to me and we do get in opposing trades at times - makes life fun though!! :cheesy:
So my thoughts are to enjoy the boards - read what other people post - and post your own thoughts too. But ultimately trade your own plan.
MSP Trader
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Thanks Jilly,
I know what you mean my plan is 75% right so i have to take the rides, my partner is an accountant so talk of profit is ok, talk of loss is well what can i say (very judgemental lol) but thank you for your input and hope your day and system plays you well....
I know what you mean my plan is 75% right so i have to take the rides, my partner is an accountant so talk of profit is ok, talk of loss is well what can i say (very judgemental lol) but thank you for your input and hope your day and system plays you well....
Offshore Trader
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An can only agree with what Jilly says. You are either a discretionary trader or not. Even if you are you must have things which trigger trades and you should always stick to them. I think "should" is the important thing here but IMHO the more you do the better you will do.
Out of long cable position. Unless we get a hike, I can only see sterling going down from here.
Out of long cable position. Unless we get a hike, I can only see sterling going down from here.
rav700
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Well we saw a 312....I am still waiting for 33 though...What now I guess We are going to be sitting in a narrow range untill tommorow...Euro is in a very nice triangle....Also the general consensus is No Change...and I guess traders will be waiting for the afterspeech to see of any signs of inflation co-rel...
I guess short cable on NFP tommorow...But will post later after The news at 1:30...
Happy Trading Everyone
Rav
I guess short cable on NFP tommorow...But will post later after The news at 1:30...
Happy Trading Everyone
Rav
MSP Trader
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Hi rav,
maybe jumped the gun lol, my system put me in a short @ 2.0300 so am sitting on a flat market at the mo
looking for a good short and feel it in my blood, but all i can do is follow my system and hope it's put me in the right direction?good luck with your trades anyway.....
rav700
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With Refrence to the last post
It seems that you like myself are a scalper\Day trader..
So what you will be doing is literally staring at that screen for the next hour with very minimal movement in the market ....Most traders are either lunching it or waiting for the US market to open...If you have position which are heavily loaded and you are waiting for a couple of pips then its okay but I would not expect any major moves in this particular hour......But hopefully all goes well with you trade.....
The options of phsycology when you trade....
A) I can leave this trade in with a stop and limit and walk away and come back to profit in the evening....Excellent trade.
B)I think this is a good trade so I can go and have a cup of coffee and comeback I dont think I will loose that much....While walking you think shall I quickly go and check the price again....what must be happening with the trade so many questions......
An okay Trade...
c) When you have to sit in front of the screen and watch it go up and down everysingle pip....wondering where it will go next
A crap trade
These are just my thought and remember this applies a trader after he has placed his trade.......
Best of luck
Happy Trading
Rav
It seems that you like myself are a scalper\Day trader..
So what you will be doing is literally staring at that screen for the next hour with very minimal movement in the market ....Most traders are either lunching it or waiting for the US market to open...If you have position which are heavily loaded and you are waiting for a couple of pips then its okay but I would not expect any major moves in this particular hour......But hopefully all goes well with you trade.....
The options of phsycology when you trade....
A) I can leave this trade in with a stop and limit and walk away and come back to profit in the evening....Excellent trade.
B)I think this is a good trade so I can go and have a cup of coffee and comeback I dont think I will loose that much....While walking you think shall I quickly go and check the price again....what must be happening with the trade so many questions......
An okay Trade...
c) When you have to sit in front of the screen and watch it go up and down everysingle pip....wondering where it will go next
A crap trade
These are just my thought and remember this applies a trader after he has placed his trade.......
Best of luck
Happy Trading
Rav
hornblower
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Hi rav
pleased to see you again
you have been missed
kind regards
hornblower
pleased to see you again
you have been missed
kind regards
hornblower
Offshore Trader
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Disappointing day today. I thought the resistance at 16300 would break at the third attempt but not to be. Cable bit of a non event but I managed to lose money by trading very badly, i.e. breaking my own rules
Edit: Just looked at the daily chart and there must be a really good chance that we have seen a short term bottom on the dips to 160. A break above 164 should see us all the way back to 168. I just hope I get some of it.
Edit: Just looked at the daily chart and there must be a really good chance that we have seen a short term bottom on the dips to 160. A break above 164 should see us all the way back to 168. I just hope I get some of it.
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MSP Trader
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Hi Rav,
Well just came back, had to go out, and the trade is against me , looking for a fall, but i can wait, i have time on my side. I just hate being in the red like this....
one of two things i can do here :-
a. sit and wait for the trade to come good, i have a big enough sl
b. average up the trade to get closer to the market and get into profit the close
time to consider my options lol....
hope your day has been good?
Well just came back, had to go out, and the trade is against me
, looking for a fall, but i can wait, i have time on my side. I just hate being in the red like this....one of two things i can do here :-
a. sit and wait for the trade to come good, i have a big enough sl
b. average up the trade to get closer to the market and get into profit the close
time to consider my options lol....
hope your day has been good?
oiltanker
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been long aus/usd last few hours after break and retest of 0.8535 area.
just closed out for +20pts mainly because we are end of adr and there is heavy resistance above.
if it breaks 8610 i'll probably give it another long.
i missed the cad drop by 15 mins which on the daily looks a solid sell zone so i'll be watching for a 500 round number break.
just closed out for +20pts mainly because we are end of adr and there is heavy resistance above.
if it breaks 8610 i'll probably give it another long.
i missed the cad drop by 15 mins which on the daily looks a solid sell zone so i'll be watching for a 500 round number break.
