Another trade missed... WTF

I'd take that method over the majority of methods people on T2W implement. I'll give you a clue that the coin is not the important factor of that strategy.
 
Masquerade said:
I'd take that method over the majority of methods people on T2W implement. I'll give you a clue that the coin is not the important factor of that strategy.
Click to expand...

Is it the way you flip the coin then??????????????:LOL:
 
Aaron, why the need to be in at the b of the bang? According to my rules it was time to enter at high noon.:) could have left it later for the other 'Japs', 13:00 hours for GBP/JPY and EUR/GBY...
 
foredog said:
Is it the way you flip the coin then??????????????:LOL:
Click to expand...

The coin is irrelevant to the success of the strategy. Just it decides which side you take - but the success does not come about because of random entries.
 
Black Swan said:
Aaron, why the need to be in at the b of the bang? According to my rules it was time to enter at high noon.:) could have left it later for the other 'Japs', 13:00 hours for GBP/JPY and EUR/GBY...
Click to expand...

Once I miss the initial move I start to get indecisive and panicky when in the trade and more often than not I pull out at a loss. Happened the other day when I entered on the break of a dow bar. Took an £18 loss and the move ended up being 100+. Ditto Cable.
 
GammaJammer said:
On a scale of one to ten, one being not at all cryptica and ten being total smartarse I'd say it's a three at best. Problem is people just want everything shrinkwrapped and neatly packaged these days.

I bet no-one even bothered googling what I posted.
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I did actually. Extremely vague unless you know the context in which to apply it.
 
This is easier said than done...but....

trail your stop a few ticks below the high/low of the candles, then if it comes back you'll only lose a little, if it runs you'll win a little, sometimes a lot.

Point is everyone of those trades where you've cut it on a hunch could potentially be the best trade of your year.......

Just make sure your stops/losses aren't too big and the profits will come and cover them.
 
Technically Fundamental said:
Once I miss the initial move I start to get indecisive and panicky when in the trade and more often than not I pull out at a loss. Happened the other day when I entered on the break of a dow bar. Took an £18 loss and the move ended up being 100+. Ditto Cable.
Click to expand...

What TF? IMHO/experience when you get a violent move similar to that (on any currency pair) it signifies a change in trend that 'goes off' ...
 
Technically Fundamental said:
That usd/jpy went from 88.00 to 88.82 in half an hour. I had a target to enter on the break of prev bar high after a blatant fakeout at a confluence of major supports and support in a ranging down-channel. Round number low, no proper test of resistances with nice space to the upside. Mega divergence on 4 diff time frames. Hourly DX a turn signal at support. Dunno what else I could have asked for. Only thing aginst it was that it was counter-trend. Threw two hours away by not taking it. Never used to understand how much my having a small account affects my ability to trust in my own judgement. Oh well I think I've offloaded enough for today. Suppose there's money to be made for traders with balls and a decent wallet ;)
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If you can't pull the trigger, you're in the wrong game. Deal with the reasons why you cannot pull the trigger.

You need to take every set up you see if your set ups are actually any good. Otherwise, what will happen is that you'll take trades too late or take one in three trades, significantly skewing the outcome, making your system unprofitable.
 
I know why. Find it hard to detach emotionally from trades because I'm under capitalised and I like money too much. Fear and greed. Seems like the set-ups are getting there but my lack of confidence is making my balls are shrivel into money gushing raisins.
 
:LOL:

Then you need to work on your fear and greed. Smaller account, maybe? Work out why money means so much to you?
 
Technically Fundamental said:
I know why. Find it hard to detach emotionally from trades because I'm under capitalised and I like money too much. Fear and greed. Seems like the set-ups are getting there but my lack of confidence is making my balls are shrivel into money gushing raisins.
Click to expand...





How can anyone be under capitalised these days? Just open an account with a broker that will allow you to do 10p per point. Saying that you can't pull the trigger because of lack of capital is just a cover up. Trade a smaller amount and bingo that excuse can no longer be used. Be honest with yourself.
 
shadowninja said:
:LOL:

Then you need to work on your fear and greed. Smaller account, maybe? Work out why money means so much to you?
Click to expand...

Erm...because I have none. I'm trying to work on fear and greed hence, live trading as opposed to demo and I'm on a small account.

Suppose it's just hard trying to pry the tight-fisted accountant out of me. I'm a bit of a miser by nature too. It's a real uphill struggle.
 
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