NVP
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What else to do to AVOID this?
- Thread starter YourFriend
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mpups
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ha! i wonder what made you think that the darn easy guy is the way forward
watch this video and tell me, do you still think you should learn from him?
YourFriend
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tomorton: noone answered my question. The replies are out of the scope of what I am asking. I was/am asking what else to do to avoid consuming time waiting endlessly for months for current loss to become profit or at least minimum what would cover negative swap so i don't loss money. Also provided some screenshots with a hope that perhaps someone will see catch a failure. Hopefully keeping in mind that, would make me not do the same failure in the future. I think Lightning McQueen is also a huge football fan just like me and he is probably busy with World Cup just like me. I am also football fan so I understand him. Actually all what I have learned from previous replies, and would like to thank you again to all who replied, is to look at higher timeframes, e.g. D1 instead of H4. This doesn't help me much.
Kaeso: according to my research, ''So Darn Easy Forex'' is the world's second best online trading consulting service, right after Tim Sykes' lectures for stocks only. Even ''So Darn Easy Forex'' guy is using new subscription plan which is for all financial instruments and not only currency pairs but his membership fees are very high. I have heard/read only positive feedbacks about him with full of detailed, well explained, knowledge. Do you know any better consulting service? I see many via google search such as tradingacademy.com, fxacademy.com, learntotradethemarket.com etc. Nothing seems to be better than ''So Darn Easy Forex''. Would you suggest anything else? Don't want signals/alerts.
Kaeso: according to my research, ''So Darn Easy Forex'' is the world's second best online trading consulting service, right after Tim Sykes' lectures for stocks only. Even ''So Darn Easy Forex'' guy is using new subscription plan which is for all financial instruments and not only currency pairs but his membership fees are very high. I have heard/read only positive feedbacks about him with full of detailed, well explained, knowledge. Do you know any better consulting service? I see many via google search such as tradingacademy.com, fxacademy.com, learntotradethemarket.com etc. Nothing seems to be better than ''So Darn Easy Forex''. Would you suggest anything else? Don't want signals/alerts.
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You don't understand the market. Your question doesn't have an answer that you would accept because the answer you are looking for doesn't exist.
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mpups
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that's fantastic, but he has given you the method to "always win at trading forex" for free in the video, no ?
YourFriend
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No, his entire knowledge is for paid members only but prices are very high. Were you his student or are you? Do you know any better ''trading training'' than ''So Darn Easy Forex''? So far I haven't used anyone knowledge at all yet. All I learned was on my own. Invested a lot of time, effort but there is still a lot more for me to learn otherwise I wouldn't need to waste time on those current losses of opened positions.
I am starting to think that I won't get needed answer/solution on your forum
barjon
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...........I am starting to think that I won't get needed answer/solution on your forum
You’ve had plenty of answers, but it seems that you haven’t really wanted to hear what’s been said.
The answer to your question “What extra protections could I do, BEFORE entering into position, to avoid unwanted retracement into the opposite direction comparing to my opened trade” is quite simple.
Answer: There is nothing you can do to avoid an unwanted retracement. What you can do is to protect your capital by taking a loss before it gets too great and/or ties up your money for weeks on end in the often forlorn hope that the trade will eventually come good.
.....I am starting to think that I won't get needed answer/solution on your forum
Finally.
mpups
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No, his entire knowledge is for paid members only but prices are very high. Were you his student or are you? Do you know any better ''trading training'' than ''So Darn Easy Forex''? So far I haven't used anyone knowledge at all yet. All I learned was on my own. Invested a lot of time, effort but there is still a lot more for me to learn otherwise I wouldn't need to waste time on those current losses of opened positions.
I am starting to think that I won't get needed answer/solution on your forum
thank you for recognizing that it is my forum, many people forget this
i seems to me you might need to dump the excess baggage acquired from your prior learning and go back to basics
So you went short GBPCHF in March at 1.291? And you said you were in profit at some point by 55% - when was that? Until April it only went up...
You said you hate to close for a loss, but with this kind of trading you really need to use stops. Is this sort of trading really for you?
You said you hate to close for a loss, but with this kind of trading you really need to use stops. Is this sort of trading really for you?
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YourFriend
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I was in profit on the same day when i opened short GBPCHF position (2nd Match) and next business day. But was too greedy. Didn't have Trailing Stop Loss active and then major uptrend happened.
What sort of trading would be for me then? I researched for training called ''Platinum Trading Academy'' and got the answer from their representative that membership cost 8500 GBP but i don't remember for what time period this is. Yes you read it correctly: 8500 GBP for membership. I am doing my best to find something much cheaper - obviously i am talking about online consulting / training. Already know many strategies with indicators, custom and default indicators. Would particularly like to fill the missing knowledge gap when it comes to ''naked charts'' (price action) analysis. I think here is where I still have the most to learn.
Your wasting your time on naked charts and price action. It does work for a few but they are in a very small aggregate group.
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hatemypips
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The market was initially doing what it was supposed to as indicated by the primary patterns, and you were right; but then the market took a funny turn and stopped doing what it was supposed to do, it became wrong. You were right all along and you are still right. Hopefully the market will behave as it should again soon and move in the correct direction, the way which you rightly determined
You can escape this problem determining interval of "trust". I mean you will be right in backtesting and in future forecasts what helps to avoid unexpected issues in your trading.
YourFriend
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Why did you guys tell me to work on higher time frame charts, e.g. D1 instead of H4? I did that and now current LOSS of currently opened positions increased from 300 to around 1250 EUR which is around 45% of total account balance. Why?
You were also advised to stop using the stupid system you had got hold of, and that you didn't know what you were doing, and that you don't understand candlesticks. Now it seems you don't understand what a stop-loss is.
Hoggums
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I think I've said this 3 times already. Use a stop loss.
You can't be right 100% of the time. If you can't take losses then close your account and do something else.
And stop blaming everyone else for your mistakes. YOU are the problem here - we've all been trying to give you good advice - but your own arrogance and narcissism is preventing you from seeing that you've got it all wrong.
You can't be right 100% of the time. If you can't take losses then close your account and do something else.
And stop blaming everyone else for your mistakes. YOU are the problem here - we've all been trying to give you good advice - but your own arrogance and narcissism is preventing you from seeing that you've got it all wrong.
YourFriend
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There is no arrogance from me but trading is not a lottery and its not based on pure luck. I am not betting here. Not testing the luck and not being arrogant. You are saying its MY mistake. What is my mistake? How could the following situation on attached graph for opening Short position of symbol USDNOK (at white arrow) be my mistake? All the rules of trading are saying: If resistance line is failed to be upward crossed by closing of GREEN candle and if next candle is going downward (preferable to wait so its fully closed and in red) then downtrend will continue: retracement (downward) from resistance line because it wasn't upward crossed.
How could this be my mistake? I am starting to believe that broker on purpose scammed me and moved the current market price into opposite direction comparing to my opened position (Short) just to make me loss. This is very unfair to me.
