I guess that is the way it goes but the reason I decided to do a plan and put it up on here is because I know what I am looking for but I find it difficult to put into words and not leave room for error.
I guess that is the way it goes but the reason I decided to do a plan and put it up on here is because I know what I am looking for but I find it difficult to put into words and not leave room for error.Day 12
I have not placed any trades for a very long time because I was doing what I was not suppose to, learning methods other than the one that has worked for me(stupid).
Anyway I have placed a trade today on the NZD/USD a pin bar formed on what I thought was a S/R level but the pin bar formed in such a way that I would not consider it being a valid pin because it formed through the S/R level but still I took the trade, why? because my emotions got the better of me again.
This is really upsetting, I am so disappointed in myself.
I have not placed any trades for a very long time because I was doing what I was not suppose to, learning methods other than the one that has worked for me
(stupid).Anyway I have placed a trade today on the NZD/USD a pin bar formed on what I thought was a S/R level but the pin bar formed in such a way that I would not consider it being a valid pin because it formed through the S/R level but still I took the trade, why? because my emotions got the better of me again.
This is really upsetting, I am so disappointed in myself.
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trader_dante
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I have not placed any trades for a very long time because I was doing what I was not suppose to, learning methods other than the one that has worked for me
Anyway I have placed a trade today on the NZD/USD a pin bar formed on what I thought was a S/R level but the pin bar formed in such a way that I would not consider it being a valid pin because it formed through the S/R level but still I took the trade, why? because my emotions got the better of me again.
This is really upsetting, I am so disappointed in myself.
The body of that pin needs to be right at the low of that previous candle. You already know that, though, right?
trader_dante
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I have not placed any trades for a very long time because I was doing what I was not suppose to, learning methods other than the one that has worked for me
Anyway I have placed a trade today on the NZD/USD a pin bar formed on what I thought was a S/R level but the pin bar formed in such a way that I would not consider it being a valid pin because it formed through the S/R level but still I took the trade, why? because my emotions got the better of me again.
This is really upsetting, I am so disappointed in myself.
You better be f*cking disappointed in yourself because let me tell you what, mate, no one else is. Do you how how f*cking annoying it is to read peoples posts where they say they know they are being stupid, they know their emotions are getting the better of them, they know they are p*ssing money up the wall and yet still they keep doing it? You need to man up mate, or it's going to be a whole lot more "upsetting" five years down the line when you are still in the cycle of making money, losing it and looking for the next great way of trading. You've made a plan. Now f*cking stick to it. I want to come back here in a week or so and actually see some decent trades being made and you making money. If you have to print this post out and stick it on your forehead, then do it. You know you can make money trading. No one else does. Now get on it. Or I'm going to come back and go Gordon Ramsay on your ass again.
Day 13 (Thanks Tom)
Thanks to the tongue lashing I got from Trader_Dante I came too my senses... well actually I was afraid to post another losing trade on here. The trade I placed today on the USD/JPY was a success because I knew exactly what I was looking for, and when I saw it I went for it without a doubt in mind.
My entry: a pin bar with a body just at the high of the previous bar (a perfect setup)
Thanks to the tongue lashing I got from Trader_Dante I came too my senses... well actually I was afraid to post another losing trade on here. The trade I placed today on the USD/JPY was a success because I knew exactly what I was looking for, and when I saw it I went for it without a doubt in mind.
My entry: a pin bar with a body just at the high of the previous bar (a perfect setup)
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trader_dante
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I love how dante called the other pin a "sucker" one. Clearly showing he was going to enter the trade.
Euro cable EJ all had very good pins today.
Good Job.
LOL. I actually took it long, then realised I had bought the high, saw there was a daily level right there where the entry was and really thought it was going to be a sucker pin. Then it went parabolic lol. I do realise everytime I call a setup a sucker pin it works out lol but contrary to popular belief I'm not trying to pull some kind of head fake - you know, tell everyone it's going to fail so I don't get slipped or have anyone gunning for my stops...because I'm doing SUCH BIG SIZE
Anyway, That was a good trade. I actually didn't take the one short that £80 did.
Missed that Euro/Usd, it was a beauty.
Day 14
Today I placed a trade on the EUR/USD, it did not work out the way I wanted it to but looking at this trade I realized it was the wrong pin bar. The pin bar should have had a slightly bigger body and a little deeper into the previous bars range.
Every trade should be a lesson, this is the lesson this is trade taught me.
Today I placed a trade on the EUR/USD, it did not work out the way I wanted it to but looking at this trade I realized it was the wrong pin bar. The pin bar should have had a slightly bigger body and a little deeper into the previous bars range.
Every trade should be a lesson, this is the lesson this is trade taught me.
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trader_dante
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I think that was a good trade. I took it too.
You can't win 'em all
are you still in
Maybe your stop was too close.
Pin Bars Introduction
He puts his 10 points beyond. It's a long way for a close SL bloke like me but, so far, it is helping me with pins.
Pin Bars Introduction
He puts his 10 points beyond. It's a long way for a close SL bloke like me but, so far, it is helping me with pins.
I think that was a good trade. I took it too.
You can't win 'em all
Hi TD,
I seem to remember you telling me that!
trader_dante
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Hi L80,
I dont understand why you don't consider the bigger frame picture?
To me it seems like trading into a support level which is not the best thing. I'd wait will the trend reverces and trade after the price bounces (eventually) from that level. The chances must be bigger then. See the attachment.
I dont understand why you don't consider the bigger frame picture?
To me it seems like trading into a support level which is not the best thing. I'd wait will the trend reverces and trade after the price bounces (eventually) from that level. The chances must be bigger then. See the attachment.
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trader_dante
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I don't agree with that. Trading into a support? That support level is 80 pips away! For an intraday swing trade that's a pretty damn good target.
I think it was a good trade £80 - price on the daily (the bigger picture) looks like its topped. There is a H&S, we broke the neckline yesterday, confirming it - today we rallied up off it and ran smack into resistance. That's a sell all the way. And it almost worked.
P.S. Hope you got in GBP/JPY - I just took 70 pips out of that to the short side.
I missed the GBP/JPY in fact I missed quite a few nice trades today.
Today was a filled with opportunity.
advfntrader
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you will find more sucess looking at Daily only, 1 hr is too small for beginners (like me also!)
trader_dante
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advfn makes a good point, £80. Although since the stops are wider to trade the setups on the daily, you need to cut your size down in accordance with your risk management.
I don't trade the daily all that much though. The only two daily trades I have taken recently are Gold short which I did yesterday and closed for a $10 (100 tick profit) and the S&P 500 short which is up 42 handles (420 ticks) and I am looking for an exit at the support level marked.
You need a good deal of patience with some of these setups though. Gold I was lucky enough to take the whole move in a few hours. The S&P I've been in for two weeks and 2 days. lol
