Sods law

[wasp]

Don't you just hate it when you see a perfect set up, everything about it is right, and then for one reason or another you just sit there and watch it move, then move a bit more, and just doesn't seem to stop! 🙄

Just happened for me on cable... Everything was sweet for my method and offered a perfect buy at 1.7600 and I just sat and watched it go up like a rabbit in headlights! Guess after a day of mediocre results the desire to not take the risk due to time of day but still...

Got to hate it when that happens... 🙁

(Its still going too!)

Do you kick yourself more for taking every set up and it losing, or not through caution, and missing a decent move?

 

[fxmarkets]

🙂 yep, but better to wait for next setup depending on timeframe use. for some maybe longer than others.

what was your reason for hesitation ? any pointers.... sometimes if I know what way im going then I can wait for a better value price, just as it sneaks away from you a tic or 2, hehe no problem tic back.... only sometimes it doesnt. annoying but rare.

similar thing for me this morning, i was fortunate enough to be watching asian session and trading for a good chunk of it watchin that euro fall last night, I went long @ 89, watched for a while and thought get some kip. so alarm at 6.45 this morning, and london kicking off, half awake, thought last night was value so not too concerned and close at london rally, 1.2135 thinking, this is a great short, after eyeballing the charts though half asleep , but said to myself you are half asleep, let it go, so i did and went to sleep stirred with it trading at 1.2062 thinking, twit should of sold.

Got back in at mid new york though

the thing is its not to bad for me because of time, and opportunity or frequency of trades, upto half dozen typically available in a 24 hr session, just depends when im active.

so why you not get in ? sorry you mention time of day, well yeah know what you mean just closed that late afternoon euro @ 95.8 fully aware that upside is very likely from here. but.... need rest.

whats your trade frequency typically ?

 

[wasp]

Hi FX,

Normally I just trade 6/7 till 3/4 and let any decent moves run if applicable till 9ish.

I had a dull morning and my charts crashed around 9:30am so missed a nice chunk of the run down on cable - still caught some but I just didn't want to take the later trade in case I got stopped out and the day ended up breakeven overall.

On one hand a profit is better than breakeven but it could get to the point of never making trades to avoid losses! Then theres a real problem...

Its no big deal really and by the morning I will have forgotton it but...

 

[fxmarkets]

yeah, we can kick ourselves, looking back on things, but like you say BUT... no need for anyone to bollock us for the **** ups i'm sure we do it ourselves. times like these maybe we need a cold one crackin open.....

 

[wasp]

very true... Can't win 'em all!

 

[Orion]

Having decided that everything was right, according to your method, to take the trade, why not put in place an entry stop? Then you would have been stopped in automatically.

Out of the twin trading evils of fear and greed, sounds a bit like fear to me. I know. I suffer from it too!

 

[TWI]

Better to be out wishing you were in than in wishing you were out.
My system sold 1.7600 this afternoon and took a hit.
You gotta pull trigger on every trade if it fits the model.

 

[dc2000]

Chrisw
What thoughts do you have on the current price ?

 

[RUDEBOY]

Fear normally means, too much. Fear and greed go hand in hand. Knowing your public holidays also helps!

 

[wasp]

Hi DC, right now I am short with a tight stop and looking for 1.7575. Goingto leave it overnight and trade my setups as I know I should!

Yourself... Seen you had quite a good run of late on cable...

RB, you lost me there?!

 

[wasp]

Hi DC, right now I am short with a tight stop and looking for 1.7575. Goingto leave it overnight and trade my setups as I know I should!

Yourself... Seen you had quite a good run of late on cable...

RB, you lost me there?!

On the flip side, a break above 1.7705 and I'd be looking for 1.7810...

 

[RUDEBOY]

Chris. The public holiday bit was aimed towards myself.

 

[dc2000]

Im still on the trade from earlier today

Long 603 stop now at breakeven 1st target hit at 650 2nd is 721 and 3rd 803