It's All About The Pips...

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haircut said:
Hi yeah I use fib lines alot along with support and resistence. I have some moving averages on my charts just to show trend and I enter my trades using Inside bars pin bars etc around support resistence or on fib lines.
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Hi Haircut..Welcome to the thread..

trust u had a good morning.
 
danarm said:
Well that was painful and boring to begin with, but the end result was good

42 pips on EURUSD
60 pips on CRUDE
35 pips on GOLD

Not a bad morning i guess..Going for breakfast now.

Will answer any questions later.

Hope charts help why i took trades.

D
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I can see when/how you tend to enter.

What about exits for profit, how do you determine those? r u looking for price to hit/stall at an S/R level? or a fixed target?

Cheers.
 
spreadbetit said:
sell offer i have 10625 ... what do you reckon .. make a short move now? it seems stalled at the mo no up or down.
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Hi Spreadbetit.

Apologies for not saying when exactly to go short. I am trading BRENT as u now know and prices vary between brokers so hard to say.

I am here to help analyse the market with you, as for pulling the trigger, that is up to you. I have traded other peoples money for a long time and i am now thoroughly enjoying no other responsibility other than trading my own.

Welcome to the thread and lets make a lot of pips together.

D
 
danarm said:
Well done on GOLD... Yes i did take all 3...Should have taken all 4 as re my morning analysis but decided against it.

28 pts is a good start to the day. Well done. It will come.

Yes a few others r talking about a chat group..Could be easier than blogging.
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Paltalk is OK but it is quite heavy on PC resources. Not sure if any lighter/better ones exist.
 
JTrader said:
I can see when/how you tend to enter.

What about exits for profit, how do you determine those? r u looking for price to hit/stall at an S/R level? or a fixed target?

Cheers.
Click to expand...


As we know this is not an exact science and i wish i could tell u that i have a set plan everyday.

A lot depends on the Pivots and MA's as targets but when the price halts and i am up a good amount of pips, i have no harm in banking. The CCI's are key as well eg crossing back through the 0.00 or -150s/150s.

My daily target is 50 pips per day so when i am up over 100 pips, i tend not to get greedy now. Do that 5 times a week and 4 times per month, thats 2,000 pips a month. If i stick to that plan i seem to do very well. As soon as i go for 300-400 per day i mess up. Dont ask me why but i do. I have learnt my weaknesses and i have learnt how quickly trades turn on me, so i bank when i hit targets.

Cheers
D
 
Last edited:
Stuart and 40 on EURUSD, makes a great day...Thats 155 b4 9.30am.

Now you are talking.
D
 
50 pips per day is adequate, especially if you are free/able to compound your profits.
 
LOL! I am the student. You are the Sensei!!

Probably shouldn't have been greedy on the trades, had over 150 at one point, but wanted to confirm the moves were ending.

That 115 includes the EUR, 75 on Crude, 40 on EUR.
 
JTrader said:
Paltalk is OK but it is quite heavy on PC resources. Not sure if any lighter/better ones exist.
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Google chat is much better and uses less resources. (Much less).

They have added a group chat. (Yet to test that out. Though I do use the normal chat to talk with another trader).

All you need is a google G mail account. Download a small applet. You can use the computer speakers and mic, Or go the whole headset thing. I'm using the screen speakers and a mic that cost about 30 pence! All Fine. Can chat for as long as you want.
 
options said:


Google chat is much better and uses less resources. (Much less).

They have added a group chat. (Yet to test that out. Though I do use the normal chat to talk with another trader).

All you need is a google G mail account. Download a small applet. You can use the computer speakers and mic, Or go the whole headset thing. I'm using the screen speakers and a mic that cost about 30 pence! All Fine. Can chat for as long as you want.
Click to expand...

I didn't know of google chat. Sounds good.

a £3 mic is usually crystal clear to hear.
 
Stuart14 said:
LOL! I am the student. You are the Sensei!!

Probably shouldn't have been greedy on the trades, had over 150 at one point, but wanted to confirm the moves were ending.

That 115 includes the EUR, 75 on Crude, 40 on EUR.
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Stuart...Honestly that is great...I dont know too many guys who get 115 pips.

You deserve a glass of fine red wine and a prime fillet steak tonight.

Ohhh i'm hungry now.

D
 
But like danarm said - if u beat yourself up for both losses, and when u leave pips on the table. Trading isn't much fun.
Be aware of existing support/resistance levels on the chart for likely areas where price may stall - good exit points.
 
Stuart14 said:
This is what always kills me. Could have had 200 pips in that trade!!
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The psychology side of trading is the hardest...In a sense how can u win? How can u ever be content in trading? I use to beat myself up all the time..

Why didnt i hold that trade?
Why didnt i cut that trade?
Why didnt i double up?
Why didnt i hedge myself?
Why did i jump in to that trade?
Why didnt i jump into that trade?

The list goes on...

Forget it...The only way u win is when u have a target and u hit it each and every day.

I have only been back trading these last 2 weeks and made 1,150 last week and 667 this week.. Yes could have made a lot more pips but also could have lost a lot more... I held some risky trades and cut out good trades etc etc but in the end it evens itself out.

My target was 500 over the last 2 weeks and i basically tripled it so i am happy. I dont care that CRUDE has fallen more or that i missed the CABLE trade etc. For me its been a great 2 week and i dont usually hit above 1000.That is usually tops but the 500 pip trade in Gold made it for me.

So set yourself a target and aim for that...Nothing else matters in this crazy world of trading!!!

D

PS Positive thinking in this game is vital for survival...Enjoy it.
 
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