Look at the top of the page please.
Thank you.
Look at the top of the page please.
Oh man what a day it is. I lost so much earlier today due to messy price movement. Luckily during the Euro session it was much better I could make good enough profits to get my feet back on the ground.
Now I think its about time for Eur to rise. I think it should continue it's rise if it closes above 1.2263. It is up to you to decide the move. If it doesn't than we need to wait and see again. Looking forward to US market opening.
yes, today the price movement is unpredictable....but there's always tomorrow...good for you auna for not taking part of today. how do you think sive ? it's truly very choppy market, " it will chop us till peaces " har har har if we don't stay clear for the moment.
Hi Sive, today I don't read your blog ....and I think that I done big damage to my self....
I have 3 positions short Eur/usd @ 1.210 (0.24 lot) , 1.2209 (0.12) and 1.223 (0.10). And today happens what you write in your forecast.....(eur at 1.2350 now).
I'm losing at the moment around 500 euro.
For me is important money....and I feel realy stupid.
My question is: how many time I have to wait for the return in profitable zone?
What can I do for don't close my account and finish in liquidation (equity is 1400 euro) ?
I wish you can help me....because I don't know what to do ...
Sardinian (Italy)
Do I have to open a new buy position now to compensate the possible total lost of my account?
Sive,
Congratulations on another precise trade. How did you know that 1.2390 was the point to exit at, and how did you figure that after the retracement the price would bounce back ?
Hi, bombermanpc
Market is choppy, But, in general our trading plan for today was correct. Market has reached 1.24, although it made a deep retracement.
As I've promised I'll be a buyer. And I did - enter 0.3 lot at 1.2230, exit t/p 1.2390, initial s/l 1.2180 (later moved to b/e).
Hi, Sardinian.
First of all, calm down. 1400Ђ is a solid sum, to make many profitable trades in the future. Looks like you have 2 main problems - psychology and money management. Let's go step by step.
The most important is a psychology. Do not enter this market again now, yours psycological conditions unstable now and you can't think rationally, you need to calm down. My rule is - if I loose solid sum or make 3 loses in a row I take a break for at least 3 days or longer if I'll need to. Market still will be there, so there is no need to haste. Track your emotional condition very carefully. If you're disbalanced - do not trade.
Second, may be I'm wrong, but I think that you'll try to outstrip the market. There is no need to do. Just watch and enter only after market action that you're expected.
Third, Use two simple rules. First - rule of 3 period. If you enter and do not come to profit during 3 period (may be 5), better to exit.
Second, do not risk more than 1.5-2% of capital in one trade. If you have to trade 0,01 lot - trade it but not exceed 1.5-2%.
And remember stop losses ARE MUST.
Hope this helps.
And one more. Always prepare trading plan before you act. And do not change it when you're already in the fire of battle. If you was wrong - exit and wait, but do not change the plan. For example, you have to create something like my update (but a bit more scrutiny). I've made a conclusion - I will buy on retracement. And I've made a buy with 0.3 lot, placed a s/l and t/p. THis was my plan. Sometimes I make profits, sometimes catch losses, but plan are must also to be. and then you should to analyze results - no matter what it was - profit or loss. Find mistakes if it was a loss and learn on them. think that loss is just a fee for experience.
You should not rely on my updates very much, I also can be wrong, although I try to do the best to help all the forumers. Try to understand the process itself, the way how I make a desicions, etc.
Sive.