if it is not an obvious trade, or you dont think its an obvious trade, then dont trade it, full stop.
guess i should have kept my mouth shut!
-30 on 2 mistakes (not obvious trades).
if it is not an obvious trade, or you dont think its an obvious trade, then dont trade it, full stop.
it is sometimes difficult to be a parent, mind your kid in the morning, prepare breakfast, get kid ready, walk to school, and look for a trade, and even worse when the move and the setup happens exactly at that time.
to finish it off, come back price consolidates, gives a potential short setup that doesnt confirm (at least not for me) until after i walk out of the door to pick the kid from school
jacinto, it's dificult to be anything when that happens. There are moments when one has to do other things, i.e answer the door, or just be glancing through T2W.
Such a one was on the GBP/USD at 0830, this morning. A drop of 40 points, then a recovery before dropping further. I'm just dipping a toe into Forex, just now, and this trade, I wasn't in.
But I asked myself "How many times does a 40 point drop happen in a minute with this pair?" A quick look back for a few weeks tells me "Not often" in fact, I can't find any others If it happened too often I think that I would scuttle back to index trading.
But I am, also, asking you, as a seasoned Forex trader, "Does it happen often?"
Split
my 2 pips.
>I believe that futures and stock traders can still be successful without the aid of computers. Two of the most famous and successful traders never touched a computer--Jesse Livermore and Richard Wyckoff<<
http://www.actionforex.com/articles..._like_the_venerable_trend_line_2007101229953/
Hector has a kid also. he prefers 4 hr charts and uses sound alarms to warn when the actual gets in the trigger zone so can do other things. The setups can take two or three days to work with maybe only three trades a week but he has a good pip count. The vids are a good morale boost. it helped me.
http://www.hectortrader.com/
thanks for your thoughts OT, appreciate them.
the "kid time" is not the cause for this pause. all is fine with myself, its just a process that i had been thinking of going through, and last night i finally decided start it next week.
Actually it was todays significant move what just brought forward this "soul searching break"
thanks again, still will have a look, though
j
Hello jacinto
What happen with your jurnal?
I love to see more trading with price action.
Regards
Catalin
I just want to write this note to thank the best person I have never met.....you know who you are, so my salute to you maestro.
A few months ago, we had a very experienced trader on our boards ( just cannot bring his name to mind at the moment ) I remembered Mr Marcus
and he was trying to help people with price action and so on , some people had bit of a go at him, and he left, to start his own web site
now coincidence or not , but all our best traders have slipped away ( and it seems that
they have to post that they are leaving site ,before they can join the new site
and thats sad ,as there was a lot of wise old birds with a lot of know how and they have flown away
and I for one miss there input , and also there insight into the way things work