My journey towards consistency

[gftrader32]

eu +10 pips

uj +5

hope to survive again on eu pullback

 

[gftrader32]

let's see if uj can make it to 72 area

 

[gftrader32]

out eu +3...


frustrating to see +15 turns to +3

 

[Forexmospherian]

out +50 pips

first day in green

Extremely well done G

Not a totally easy morning neither

I can see you like correlating a few pairs - so if it works and you are able to cut any losses ASAP - and stay with the good rides - keep it up

 

[gftrader32]

out eu +3...


frustrating to see +15 turns to +3

actually not +15 turns to +3, it's 11...still

 

[gftrader32]

Extremely well done G

Not a totally easy morning neither

I can see you like correlating a few pairs - so if it works and you are able to cut any losses ASAP - and stay with the good rides - keep it up

cheers f, only ej hitted me twice with full stop, i wonder if ej is more volatile than 5 pips? i wasn't able to adjust the stop... i was typing in here

 

[gftrader32]

Extremely well done G

Not a totally easy morning neither

I can see you like correlating a few pairs - so if it works and you are able to cut any losses ASAP - and stay with the good rides - keep it up

i am still holding long on uj from 10 09am at 58

 

[Forexmospherian]

cheers f, only ej hitted me twice with full stop, i wonder if ej is more volatile than 5 pips? i wasn't able to adjust the stop... i was typing in here

Yes normally its a lot more volatile than EU - but on first scalp buy of morning at 6 21 am ish on both EU and EJ - my EU moved more than EJ - sods law at time

 

[gftrader32]

Yes normally its a lot more volatile than EU - but on first scalp buy of morning at 6 21 am ish on both EU and EJ - my EU moved more than EJ - sods law at time

any comment on the uj? i am long looking for next r at 72

 

[gftrader32]

any comment on the uj? i am long looking for next r at 72

out +0.7

 

[Forexmospherian]

any comment on the uj? i am long looking for next r at 72

UJ at 10 36 am is keeping to LHs' atm

So 74 - 72 and 67/8 for now

Clue on more buys would be over 75 and 80

Supports at 50 to 53

Would only sell more under 43 and 39

 

[Forexmospherian]

UJ at 10 36 am is keeping to LHs' atm

So 74 - 72 and 67/8 for now

Clue on more buys would be over 75 and 80

Supports at 50 to 53

Would only sell more under 43 and 39

Also on UJ - besides LH's - spot LLs' ie from 56 - 52 - 50 - 48 - 45

That favours lower - but can easily change if stay above 50 and then make over 75 and 80

 

[gftrader32]

short au 11 01 at 64
long uj 11 01 at 60

 

[gftrader32]

short au 11 01 at 64
long uj 11 01 at 60

adjusted stops

 

[gftrader32]

adjusted stops

-2.1 on uj

 

[gftrader32]

-2.1 on uj

-3.3 au

 

[gftrader32]

-3.3 au

seems the questions will always be... will i survive the pullback after i enter or not...

 

[Forexmospherian]

seems the questions will always be... will i survive the pullback after i enter or not...

The answer

get out under minus 2 if possible and then if it goes 5 ot 7 or 9 pips against you - but turns and then goes your way - jump back in

You have only lost a few pips

BUT

If you give yourself a bigger stop - ie minus 10 or 15 - you could lose all those pips and then its hard to get them back

Regards


F

 

[gftrader32]

The answer

get out under minus 2 if possible and then if it goes 5 ot 7 or 9 pips against you - but turns and then goes your way - jump back in

You have only lost a few pips

BUT

If you give yourself a bigger stop - ie minus 10 or 15 - you could lose all those pips and then its hard to get them back

Regards


F

makes sense, perhaps i need to adjust hard stop to 2pips.

the other question, how do you deal with your day, if the start was not good or minus? it happened to me last few days, and i wasn't focused on pa, i was trying to overcome the loses... today was another story, because i had good start and in green i feel more relaxed.. yes still getting loses but they are small etc...

the start of the day is difficult when it's minus or red

 

[Forexmospherian]

makes sense, perhaps i need to adjust hard stop to 2pips.

the other question, how do you deal with your day, if the start was not good or minus? it happened to me last few days, and i wasn't focused on pa, i was trying to overcome the loses... today was another story, because i had good start and in green i feel more relaxed.. yes still getting loses but they are small etc...

the start of the day is difficult when it's minus or red

Would agree with you

My first 5 scalps or so are very important

its great if you can be up say 20 -30 + pips and then you do relax more

Dont worry though - I have many mornings with 2 or 3 losses out of first 5 trades - but I really do try and get out under minus 2 or3

Sometimes - i get a scalp wrong - but because I got a great entry within a pip or 2 of turn - I can still make 4 -6 pips and be out with plus 2 or 3pip - even though I got it wrong and the move did not make over 7 or 10+ pips

Its practice - experience and keeping calm - knowing that over 15 or 20 trades over say 2 or 4 + hrs you should be in the black as long as you get your win ratios over 60% +

It will come believe me - even MM used to think at times when he had 10 bad scalps in a row he would never do it

Then when he ends up getting 30 or I think over 50 winning trades in a row - he realises - yes this method can work

Keep it up and just keep it tight and stay with any that make over 10 -15 pips and out your stop in a small profit etc etc

Its a skill - and every week and month - you will get better at doing it


Regards


F