is it just me or is anyone else getting completely raped at the moment?

[Pazienza]

dirty old codgers

p.s. did anyone know arabian has a girly voice

Yep.

 

[Splitlink]

Short answer is no, but it's been a very poor week, sticking to my rules made me see profit evaporate and winners turn into losers, however, sticking to my rules also made sure I came back from the darkside (200 pips down) and finally into profit, approx 70 for the week on eur/usd and that's it for me this week...

Three trades this week, two losers one winner so satisfying in some respects; the edge works (if my nut is in the game etc.) would post up a pretty chart with lines and funky indicators but this iPad doesn't do java..Might post it later...

You are a master of understatement! It has been a very poor week, indeed.

I am level pegging but that is not boasting. At my age and after all these years I should have made a packet this week and I did not. Instead, I am about twenty points down.

I was looking for bounces that did not come which tells me that contrarian thinking is not a good idea for me.

 

[TimYoung]

I got raped this morning. I am totally steamed and so tilted atm I am afraid I would do something stupid next and get thoroughly gang bang into intensive care.

Think I going have to control myself to sit out for a while.

 

[TimYoung]

You are a master of understatement! It has been a very poor week, indeed.

I am level pegging but that is not boasting. At my age and after all these years I should have made a packet this week and I did not. Instead, I am about twenty points down.

I was looking for bounces that did not come which tells me that contrarian thinking is not a good idea for me.

There will always be a bounce to play but the biggest one is usually when it is when all the commentators stop saying the market is oversold and people have lost all hope.

 

[robster970]

dirty old codgers

lol - yes.

 

[brewski1984]

Just out of interest, what were the reasons people lost last week?

Trying to find the bottom/reversal? Holding hoping it would come back? Was it more of a case the markets were like casinos? Other reasons?

I've never seen a week quite like last week and to be honest I was a bit too scared to trade!

 

[Pazienza]

Just out of interest, what were the reasons people lost last week?

Trying to find the bottom/reversal? Holding hoping it would come back? Was it more of a case the markets were like casinos? Other reasons?

I've never seen a week quite like last week and to be honest I was a bit too scared to trade!

I've got my figures in front of me, so I'll give it a go.

6 trades, 3 win, 2 break even and 1 looss. Up 4.29% at the end of the week. 5 short, 1 long (guess which was the looser .

I missed Monday because I was busy doing something else, and as a consequence I missed probably the easiest trade of the week.

The two break even should have been wins, but I broke my rules to move to break even early. I wanted to be at break even and that's what I got.

The same applied to 1 of the winners, which should have been rather larger. Again, I wanted to protect the profit I had.

The looser was a long YM from the 11500 area. It actually went well into profit (just over 0.5R), and I followed my rules to reduce my risk and so got taken out for a 0.5R looss. Really, I should have moved to break even on this one despite my rules because the force of the market was so strongly down and the reversal signal was a relatively weak one.

So although it was a positive week, I do feel rather disappointed with myself, as it should have been much better. Schoolboy errors and fear cost me. I'm trying to capitalise it by viewing it as a positive reinforcement experience - it wasn't exactly a learning experience, because there wasn't anything new to learn, but it did reinforce my conviction in my approach and my resolve to follow it as strictly as possible (always allowing for some flexibility in the face of extreme and fairly obvious conditions).

 

[brewski1984]

I was short the DOW on Monday afternoon but I ended up shaken out for breakeven, wish I'd had the stones to stay in! Very much a learning experience for me last week and it did emphasise why fear and greed play such a massive part in trading.

 

[TimYoung]

My main loss was because of the short stop loss at my prop firm. The market was so volatile that my spread spiked up a bit and I had to get out even though I was convinced it was going to come back down.

It did come back down big and in hindsight should have held on to my position if not for the idiot that was creaming his pants next to me. I got out at the worse possible price. I am bring in ear plugs next week.

 

[Black Swan]

Just out of interest, what were the reasons people lost last week?

Trying to find the bottom/reversal? Holding hoping it would come back? Was it more of a case the markets were like casinos? Other reasons?

I've never seen a week quite like last week and to be honest I was a bit too scared to trade!

Here's the thing, if I'd had no access to any media other than my eur/usd chart, then the week was no different to many others, in fact I've experienced much more volatile weeks without all the s.h.I.t. that's been hitting the fan. My big 'mistake' was taking my youngest lad out twice, early in the week he cost me my short entry and a few quid on stuff at a skateboard park, HMV, Wagamama. Friday we went to see Captain America with the eldest lad, I thought id get clever post nfp numbers, went out at two thirty, had already set an order for a long at 14200, 50 pip take profit limit with 50 pip stop, got stopped out by 3 pips, so finished the week 20 pips up..I think that paid for the two days out..just..

 

[bedsit]

Here's the thing, if I'd had no access to any media other than my eur/usd chart, then the week was no different to many others, in fact I've experienced much more volatile weeks without all the s.h.I.t. that's been hitting the fan. My big 'mistake' was taking my youngest lad out twice, early in the week he cost me my short entry and a few quid on stuff at a skateboard park, HMV, Wagamama. Friday we went to see Captain America with the eldest lad, I thought id get clever post nfp numbers, went out at two thirty, had already set an order for a long at 14200, 50 pip take profit limit with 50 pip stop, got stopped out by 3 pips, so finished the week 20 pips up..I think that paid for the two days out..just..

No media experience over here. Monday and Tuesday I was at the seaside - enjoying swimming and missed some really nice moves on eu. Wednesday didn’t feel like trading and Thursday did some shorts and longs - not a single loss - massive account increase. On Friday managed to lose most of it. C’est la vie.
Anyway I was only following eu - no news no other charts (apart from gu - but I mostly ignored it). Only when I've met some guys in the city heard about that collapse.

PS I should have done better - it was a lovely eu week (excellent volatility) to increase the account and I missed the opportunity mostly because of my mistake(s) on Friday. I don’t regret missing opportunities on Mon and Tue - had a really nice time.