FOREX PRO Weekly July 16-20, 2012

Triantus Shango

Sergeant Major
Messages
1,372
yeah, i went through it both in demo and live. and that reminds me of a very important learning point for those who might be newbies reading this and so scared to lose even 1 penny. trade with money and experience the distress of losing it. there is no greater teacher in humility, which in turn, if you constantly examine yourself during this process, will help you realize all your flaws such as wanting revenge, anger, or even rage, fear, destructiveness, incapability of taking responsibility aka blaming the world and god. you might even teeter on the edge of the cliff of madness and as you gape into its bottomless maw, a leer of realization of your wretchedness will paint itself on your face. when that happens, you will have been reborn and from mere trader wannabe you will now have joined the ranks of true novice apprentice trader in the school of magister maxissimus morten sivensis.

... this is what a day of scalping a choppy e/j does to you. ;-D man, i need a neckbrace!


Funny, if you've gone through this in DEMO mode....
 

georgeta

Sergeant
Messages
157
Thanks Micheal,,

...
Also i then dont face any issues about brokers!! as i always get my money when i withdraw and this also keeps you very disciplined not to make major mistakes like get tempted by SATIN :)) for more...... lol i am sure you get my point.

As i can only eat 1 t bone steak every day not 50 ! lol

Best

Asif

Hi guys!

I increased my account by 10% in the last year. It sounds like we are at AA (Alcoholics Anonymous) meeting.
I am trying to trade other "things" than Mr. Morten so obviously I do a lot of stupid mistakes. (By the way, I am long on gbpjpy. Anyone?)

Asif, if this is not a secret, who is your broker? I am really curious who are these guys who actually give money away.

Thanks!
 

Triantus Shango

Sergeant Major
Messages
1,372
yeah it sounds like it, doesn't it? ;-) am not touching the g/j anymore, or anything GBP related. the GBP is a difficult crcy to handle. however, i trade the e/j and a/j, especially when e/u is taking too much time to generate my daily target profits.

also, asif already posted who his brokers are. go back a few pages.

Hi guys!

I increased my account by 10% in the last year. It sounds like we are at AA (Alcoholics Anonymous) meeting.
I am trying to trade other "things" than Mr. Morten so obviously I do a lot of stupid mistakes. (By the way, I am long on gbpjpy. Anyone?)

Asif, if this is not a secret, who is your broker? I am really curious who are these guys who actually give money away.

Thanks!
 

georgeta

Sergeant
Messages
157
Hello Mr. Morten!

I entered yesterday short because of the beautiful W&R on H1 but then I closed the position. The retracement closed above the 61.8 fib resistance so I exited. Where is the correct SL placement (I am bitting my nails right now :mad: ). I have a feeling that you will say "above the top", but how far above the top?

Thank you!
 

Attachments

Sive Morten

Special Consultant to the FPA
Messages
12,867
Hello Mr. Morten!

I entered yesterday short because of the beautiful W&R on H1 but then I closed the position. The retracement closed above the 61.8 fib resistance so I exited. Where is the correct SL placement (I am bitting my nails right now :mad: ). I have a feeling that you will say "above the top", but how far above the top?

Thank you!
Hi Georgeta,
It's a bit difficult to advise, since it could be different depending on your prefferals, but personally, I place stop above 1.2350 area. This is solid resistace, that we've discussed.
Speaking about W&R, yes, as a mere formality you're right, but, at my sense this is not quite W&R, I prefer when it is "brighter", if you understand what I would like to say. two stop grabbers on 4-hour chart, in current situations, may be, more valuable.
But anyway - this is good entry. Well done.
 
Top