I want to be, the very best, like no one ever was

[Lúidín]

As the other guys have commented here to become a consistent and profitable trader you need to UNDERSTAND every nuance of your chosen market and every aspect of the system you apply to it

Only,in truly understanding this will you be able to weather the inevitable losses when they come

Remember that you can only control the controllable elements in your trading .....the elements out side your control cannot be anticipated or changed.....you must merely react using the systems you have defined and rehersed

When I work with traders I have to get them to accept this and release themselves from the stress trap,of trying to control the uncontrollable !!!!

You will never progress otherwise

N

there are 2 main issues in what you have posted..do any people you work with ever take issue with what you tell them..or do they always accept what you say as being true and factual?

 

[dgtrading]

GBP/JPY long 23:45 gmt

indications of reversal to upside

 

[dgtrading]

stop hit

stop loss hit.

no big deal, as further rejection of low price could spark an explosive bullish move giving me multiple R/R

 

[dgtrading]

strategy tweak

reviewing the trade, setting my stop loss to below 127.128 may have improved the probability of success.

It seems that in many cases my stop-out trades were actually in the correct direction however they were suffocated by a stop loss order.

I need to wait for more precise, harsher rejections of price to set my stop loss

 

[Fugazsy]

You bought the bottom of a bear pause, it is a bit like pissing against the wind .....sorry.

 

[dgtrading]

You bought the bottom of a bear pause, it is a bit like pissing against the wind .....sorry.

yep.

I need to stop messing around with such poor setups

 

[dgtrading]

waiting for possible AUD/USD short

- potential for bearish price action on the 4hr chart, however I am aware price could snap up above 0.76888 before falling.

 

[malaguti]

there are 2 main issues in what you have posted..do any people you work with ever take issue with what you tell them..or do they always accept what you say as being true and factual?

nobody listens to anything he has to say

 

[piphoe]

you've set yourself an impossible task. there is no "best" ...but plenty of very good. even more "good enough".

focus on being consistently profitable, then tweak carefully to improve p'n'l. or just leave it alone & bank. don't try to be perfect.

oh, and put in lots screen time.

 

[dgtrading]

short AUD/USD 15:30 gmt

4hr chart

-grinding lower, lower highs and lower lows
- price starting to false break previous candle's high

5min chart

- price has found strong resistance at 0.76746, false breaking it not once but twice, with the second time a much harsher rejection of price
-multiple trend lines being broken

 

[dgtrading]

closed position for minuscule loss.

I want to see more potential for downside on the 4hr chart. that thick buy-up of the last 12 hours is giving me second thoughts about shorting yet.

 

[dgtrading]

you've set yourself an impossible task. there is no "best" ...but plenty of very good. even more "good enough".

focus on being consistently profitable, then tweak carefully to improve p'n'l. or just leave it alone & bank. don't try to be perfect.

oh, and put in lots screen time.

always studying these damn charts man......love it though

 

[piphoe]

always studying these damn charts man......love it though

i have 100,000 hrs of screen time
i say this with pride

devoted my life to this

 

[Dowser]

i have 100,000 hrs of screen time
i say this with pride

devoted my life to this

Seriously? that's over 30 year's worth of 60 hour weeks!

 

[dgtrading]

i have 100,000 hrs of screen time
i say this with pride

devoted my life to this

nice.

surprised your eyes haven't turned into candlesticks.


since I finished university I've been studying charts all day almost every day. i'm no trader yet by any means however every chart gets me closer to financial freedom- which is why this job is one of the best jobs in the world. every second well spent.

 

[Fugazsy]

yep.

I need to stop messing around with such poor setups

Yes.

TA can help you pinpoint entries and exits but most importantly can help you weight the strengths and the direction of the least resistance and when it is shifting from one plate to another. Remember we can only make money if we follow the money. Money in forex is moved by market movers. It does not matter how good my set up is, if money is not in it my trade will not go anywhere.

Look what happened today with nzdusd: kiwi already in a positive territory ($ is loosing ground), on the 4h tf there is a break out pullback with a strong bull bar, soon after that good numbers were released, moved about 100 pips , nzdcad did even better, why? because cad is weaker together with oil.

 

[Lúidín]

i have 100,000 hrs of screen time
i say this with pride

devoted my life to this

Some people would be ashamed to say that.

 

[dgtrading]

short AUD/USD 13:05 gmt

 

[dgtrading]

short GBP/JPY 13:30 gmt

 

[dgtrading]

closed both positions neutral result