Support at 1.4855
Support at 1.4855
everydaytrader
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Will be interesting to see if we get a strong move around 8am again, if its a spike down we should
get that much needed +50
get that much needed +50
Tenapenny
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Good, but if you let this run, be aware there is important news at 09.30 (UK manufacturing PMI) http://www.forexfactory.com/calendar.php?do=geteventinfo&day=2010-7-1&c=2 I would also keep an eye on the USDX.
This is a setup for the whole day. The news importance is "medium", i hope it will give just enough push to trigger the trade.
Tenapenny
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Yes. I would wait for it to retrace north for a better entry then short it. Much longer term than NT but then you never know what may happen.
Tenapenny
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then manage the trade. no harm in cutting your losses or taking profits... but what you then shouldnt do is beat yourself up if you miss out on a few pips...
its not a race and you arent in competition with anyone but yourself, if 'they' get 10 pips and you get 4.. no matter, they may lose 30 and you only 15...
If you really are struggling then just base it on cash, forget how many pips it is.. set yourself a cash target you want to win or are happy to lose- £100 say and then if it hits it, pull the trigger...
Thought you were already Del!
not from using bloody net trap
although it is in profit so I shouldnt complain - long may it continue
This forum is turning into a classic Why Most Traders Fail thread! This is a set & forget system, moving stop to breakeven, taking 20 pips instead of 50, etc. All means that whatever system you devise or choose to follow - YOU LOSE LONG TERM. This is one of the main reason traders fail, even if they have a profitable system that they know and believe in, they cannot follow it - END OF, LONG TERM LOSER. You are all doomed to failure unless you find a system and stick to the rules, if you cannot or do not stick to the rules of the system one of two things is wrong, you have no faith in the system or you have no faith in yourself - FAILURE, LONG TERM LOSER.
Just trying to help.
W
ps - Point made
Just trying to help.
W
ps - Point made
Last edited:
Tenapenny
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not from using bloody net trap
although it is in profit so I shouldnt complain - long may it continue
Agreed. Hope it's profitable for you but as I said before, if you remain trading then it should be just one of the weapons in your armoury.
Agreed. Hope it's profitable for you but as I said before, if you remain trading then it should be just one of the weapons in your armoury.
+50 at last!
Denman
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peterf1966
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ahh yes.. but resistance.. like rules..... are meant to be BROKEN
get down there!!!
yes should have, missed 1st 50 pipper in ages! oh well, did them bonus 40 yesterday, so not too upset!:|sarnia cherie
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Phew! i nearl pulled out on three occasions
+ 50
Aargh!! Pulled out at +20 cos couldnt face any more losses. I did however make +20 on EUR/USD too so not so bad. Must stick to the rules...must stick to the rules...
Tenapenny
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Phew! i nearl pulled out on three occasions
+ 50
Set and forget. Do something else till 08.30 as you will stress out watching every move.
Calm down love
I have a rule of not following the rules
Given the fact that there is no perfect system, then to blindly follow the rules is no guarantee of success. Markets change, and what works today may not in a months time
So, to adapt the rules to make yourself feel more comfortable isnt bad.
What you are really referring to is consistency - if I chop and change my approach day by day then I will probably end up losing, (but even then every day is different so maybe not) - anyway, as long as I'm consistent, then not following the rules becomes my own rules
So in short, not following the rules is a rule which if you follow the rules means that you shouldn't not follow the rules because if you did then you wouldn't follow the rule of not following the rules. And if you didn't not follow the rules then there's no point in having a not following the rules rule, you may as well just follow the rules
Hope thats clear
Up to you ! You will struggle to be a successful trader and your comments help none of the newbies on here - It was my intention to help newbies but unfortunately they become more interested in pivot points, fibs, indicator this indicator that, etc. Rather than pay attention to one of the fundamental reasons they will fail - which I kindly pointed out to them - Don't worry they will be thanking me more for my advice if they take heed or learn the hard way (your way).
No need to calm down "love" as I have made one of the most valid points anyone has made on this forum. Once again, point made.
W
No need to calm down "love" as I have made one of the most valid points anyone has made on this forum. Once again, point made.
W
