What else to do to AVOID this?

YourFriend

Junior member
37 0
Why did you guys tell me to work on higher time frame charts, e.g. D1 instead of H4? I did that and now current LOSS of currently opened positions increased from 300 to around 1250 EUR which is around 45% of total account balance. Why?
 

tomorton

Legendary member
8,378 1,335
Why did you guys tell me to work on higher time frame charts, e.g. D1 instead of H4? I did that and now current LOSS of currently opened positions increased from 300 to around 1250 EUR which is around 45% of total account balance. Why?


You were also advised to stop using the stupid system you had got hold of, and that you didn't know what you were doing, and that you don't understand candlesticks. Now it seems you don't understand what a stop-loss is.
 

Hoggums

Senior member
2,176 878
I think I've said this 3 times already. Use a stop loss.

You can't be right 100% of the time. If you can't take losses then close your account and do something else.

And stop blaming everyone else for your mistakes. YOU are the problem here - we've all been trying to give you good advice - but your own arrogance and narcissism is preventing you from seeing that you've got it all wrong.
 
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YourFriend

Junior member
37 0
I think I've said this 3 times already. Use a stop loss.

You can't be right 100% of the time. If you can't take losses then close your account and do something else.

And stop blaming everyone else for your mistakes. YOU are the problem here - we've all been trying to give you good advice - but your own arrogance and narcissism is preventing you from seeing that you've got it all wrong.

There is no arrogance from me but trading is not a lottery and its not based on pure luck. I am not betting here. Not testing the luck and not being arrogant. You are saying its MY mistake. What is my mistake? How could the following situation on attached graph for opening Short position of symbol USDNOK (at white arrow) be my mistake? All the rules of trading are saying: If resistance line is failed to be upward crossed by closing of GREEN candle and if next candle is going downward (preferable to wait so its fully closed and in red) then downtrend will continue: retracement (downward) from resistance line because it wasn't upward crossed.

How could this be my mistake? I am starting to believe that broker on purpose scammed me and moved the current market price into opposite direction comparing to my opened position (Short) just to make me loss. This is very unfair to me.
 

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Hoggums

Senior member
2,176 878
I give up.
 

FXX

Experienced member
1,264 258
There is no arrogance from me but trading is not a lottery and its not based on pure luck. I am not betting here. Not testing the luck and not being arrogant. You are saying its MY mistake. What is my mistake? How could the following situation on attached graph for opening Short position of symbol USDNOK (at white arrow) be my mistake? All the rules of trading are saying: If resistance line is failed to be upward crossed by closing of GREEN candle and if next candle is going downward (preferable to wait so its fully closed and in red) then downtrend will continue: retracement (downward) from resistance line because it wasn't upward crossed.

How could this be my mistake? I am starting to believe that broker on purpose scammed me and moved the current market price into opposite direction comparing to my opened position (Short) just to make me loss. This is very unfair to me.

The broker has nothing to do with the outcome of your trading strategy - they just provide you access to the market. It is your mistake! Do you really think financial professionals make trading decisions by looking at candles? Your mistake is your approach to the market. The market doesn't operate with participants deriving trading strategies by looking at candles and adding yes\no rules to them. The market is reacting to economic and political driven news that affects investment decisions. So you might not have broken your trading rules but what you need to understand is the rules and strategy you are trying to apply is about as useful to making money as an ashtray on a motorbike.
 

mpups

Experienced member
1,024 143
There is no arrogance from me but trading is not a lottery and its not based on pure luck. I am not betting here. Not testing the luck and not being arrogant. You are saying its MY mistake. What is my mistake? How could the following situation on attached graph for opening Short position of symbol USDNOK (at white arrow) be my mistake? All the rules of trading are saying: If resistance line is failed to be upward crossed by closing of GREEN candle and if next candle is going downward (preferable to wait so its fully closed and in red) then downtrend will continue: retracement (downward) from resistance line because it wasn't upward crossed.

How could this be my mistake? I am starting to believe that broker on purpose scammed me and moved the current market price into opposite direction comparing to my opened position (Short) just to make me loss. This is very unfair to me.

haha you're a winding us up mate. funny though :cheesy:
 

YourFriend

Junior member
37 0
The broker has nothing to do with the outcome of your trading strategy - they just provide you access to the market. It is your mistake! Do you really think financial professionals make trading decisions by looking at candles? Your mistake is your approach to the market. The market doesn't operate with participants deriving trading strategies by looking at candles and adding yes\no rules to them. The market is reacting to economic and political driven news that affects investment decisions. So you might not have broken your trading rules but what you need to understand is the rules and strategy you are trying to apply is about as useful to making money as an ashtray on a motorbike.

there was no high impact RELEVANT (to particular trading symbol) event on economic calendar.
 

tomorton

Legendary member
8,378 1,335
There is no arrogance from me but trading is not a lottery and its not based on pure luck. I am not betting here. Not testing the luck and not being arrogant. You are saying its MY mistake. What is my mistake? How could the following situation on attached graph for opening Short position of symbol USDNOK (at white arrow) be my mistake? All the rules of trading are saying: If resistance line is failed to be upward crossed by closing of GREEN candle and if next candle is going downward (preferable to wait so its fully closed and in red) then downtrend will continue: retracement (downward) from resistance line because it wasn't upward crossed.

How could this be my mistake? I am starting to believe that broker on purpose scammed me and moved the current market price into opposite direction comparing to my opened position (Short) just to make me loss. This is very unfair to me.


All the rules of trading are NOT saying that. There's always two ways to trade the same market -
buy because price has been going up/down
sell because price has been going up/down

Obviously you would have placed a stop-loss in any situation because no trading strategy gives 100% accurate entry signals.

But if you want to improve your win rate, stop trading trend reversals.
 

FXX

Experienced member
1,264 258
there was no high impact RELEVANT (to particular trading symbol) event on economic calendar.



Data affecting the EU fundamentally is not just about the economic calendar. It is about risk sentiment in which correlations affect the AUD. risk on = good for Au$, risk off bad for Au$


News from that period:

30 May (risk on sentiment)
The Australian dollar ripped higher on Wednesday, reversing all of the previous sessions losses as sentiment towards Italy's political stalemate improved.

31st May (risk off sentiment)
The Australian dollar finished marginally lower on Thursday as an easing in political concerns over Italy was overridden by renewed fears over a global trade war.

1st June (risk on sentiment)
European shares jump into June as Italy reaches govt deal

3rd June (economic data)
The Australian Dollar is seen to be an outperformer at the start of a new week thanks to the publication of a set of better-than-forecast economic data.

4th June (economic data)
The Australian dollar rallied by over 1% against the US dollar on Monday, propelled higher by strong economic data and renewed weakness in the greenback


All of your trades are related to AUD which is greatly influenced by both economic data and sentiment around risk on\off. You had more than enough opportunity to see that your trades were wrong if you just bothered to look at the news that is driving sentiment.
 

NVP

Legendary member
37,750 2,095
Why did you guys tell me to work on higher time frame charts, e.g. D1 instead of H4? I did that and now current LOSS of currently opened positions increased from 300 to around 1250 EUR which is around 45% of total account balance. Why?

2 words

take responsibility

in life , in trading ....whatever

if you dont you will forever be a loser

sorry but its true ;)
N
 

NVP

Legendary member
37,750 2,095
Data affecting the EU fundamentally is not just about the economic calendar. It is about risk sentiment in which correlations affect the AUD. risk on = good for Au$, risk off bad for Au$


News from that period:

30 May (risk on sentiment)
The Australian dollar ripped higher on Wednesday, reversing all of the previous sessions losses as sentiment towards Italy's political stalemate improved.

31st May (risk off sentiment)
The Australian dollar finished marginally lower on Thursday as an easing in political concerns over Italy was overridden by renewed fears over a global trade war.

1st June (risk on sentiment)
European shares jump into June as Italy reaches govt deal

3rd June (economic data)
The Australian Dollar is seen to be an outperformer at the start of a new week thanks to the publication of a set of better-than-forecast economic data.

4th June (economic data)
The Australian dollar rallied by over 1% against the US dollar on Monday, propelled higher by strong economic data and renewed weakness in the greenback


All of your trades are related to AUD which is greatly influenced by both economic data and sentiment around risk on\off. You had more than enough opportunity to see that your trades were wrong if you just bothered to look at the news that is driving sentiment.

and the clouds of saturn were covered by the aura of venus .....jees we could all see it coming

(just kidding) :smart:;)
N
 

YourFriend

Junior member
37 0
FXX: As a reply to member Hoggums, I was speaking about USDNOK and not AUD.

But if you want to improve your win rate, stop trading trend reversals.

Stop trading trend reversals means trading trade continuations. See what happened on EURNOK when i opened Short position according to trend continuation and major support line downward cross. Even worse than trading reversal :cry:
 

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FXX

Experienced member
1,264 258
FXX: As a reply to member Hoggums, I was speaking about USDNOK and not AUD.



Stop trading trend reversals means trading trade continuations. See what happened on EURNOK when i opened Short position according to trend continuation and major support line downward cross. Even worse than trading reversal :cry:
Same applies there. Ecb met on Thursday which was the day by the looks of it where you entered. That event was short lived with inflation data the flowing day reversing sentiment and screwing your trade.

Sent from my SM-G950F using Tapatalk
 
 
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