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It is all about patience & trust in your system. The biggest thing I learned that has helped alot is to not babysit the screen. Set your stops, if you choose a TP do so, otherwise let that b**** ride!!!!
Hope that helps,
Bear-
So Bear, I am assuming you have 2 positions open at the moment? Eur/jpy and gbp/jpy both long?
__________________
All your pips are belong to us!
It is all about patience & trust in your system. The biggest thing I learned that has helped alot is to not babysit the screen. Set your stops, if you choose a TP do so, otherwise let that b**** ride!!!!
Hope that helps,
Bear-
I think my problem is its 1 am when I start trading and there isnt a lot to do at that time. I got into the habit of being up that early so not sleepy at all any longer.
Guess the ole recumbant bike is gonna finnaly get some work.
fx,
thanks for the advice...i just wanted to share my ideas but i see that you like to attack already...
maybe i dont know anything, such as "market psychology"...but then maybe you didn't get what i meant to represent...it's all good.
bear's system is still the main signal i am watching for...i just feel better with another confirmation, i dont think anything is wrong with that...
still, thanks for the concern...i am here to learn. you just sounded pretty harsh...and yes, i have faith in bear's system and therefore, i am using it...
at this point, all the trades i am in are in green...using bear's.
You're right, I did sound harsh, and I'm sorry for that. I think that my own experience at changing systems and getting beat up in the process is the reason behind reacting to sort of similar behaviour in others. I've learned the hard way not to jump between systems, not to alter good ones, but try and learn WHAT is the REAL EDGE of a system, and the answer to me is that it's not another indicator. I'm not even trading Bear's right now. I have my own that I use on the daily's, and it's much different. I still come here, because I find his approach interesing, so much as the discussion.
Please forgive me, and if you'd be interested in seeing my mistakes, do visit my blog Flying Money Where you can see my long and never finished route of obtaining trading experience.
Hello Bear,
lets say you have discovered that the arrow happened 2 candles a go; do you consider entering the trade after the first bounce or you just don't trade?
It seems to me that it may be still OK since we are anticipating long trades. Am I wrong? So far I have traded your method on a demo with great success. I am planning to trade this with money very soon.
Thanks for your help.
Regards,
Pluto2
Well after all said and done, I only placed 4 trades this week. I was real busy doing other things this week so I wasen't able to focus that much later in the week. We are working on our new signal service.
Here are my trades.
Last edited by forex11; 08-25-2007 at 01:40 PM.
Reason: added something.
I think my problem is its 1 am when I start trading and there isnt a lot to do at that time. I got into the habit of being up that early so not sleepy at all any longer.
Guess the ole recumbant bike is gonna finnaly get some work.
thx
Hey droesparky,
Thats a good idea. I work out late night as well. Talk to my GF in England. read books on Trading & other hobbies. I know the late night life all to well. There are pluses. No traffic. Plenty of parking & no one to bother you.
Hello Bear,
lets say you have discovered that the arrow happened 2 candles a go; do you consider entering the trade after the first bounce or you just don't trade?
It seems to me that it may be still OK since we are anticipating long trades. Am I wrong? So far I have traded your method on a demo with great success. I am planning to trade this with money very soon.
Thanks for your help.
Regards,
Pluto2
Hey Pluto2,
95% of my FTC trades are on the 4HR chart so that almost never happens to me. If it did however I would look at candle formations and the over all trend. Is it with or against the trend? How much has it moved already? Did I already hit my goal for this month? Is it worth the risk?
If its against the trend I would most likely stay out. With the trend I might be a little more conservative.
late entry
good week
Linear Mode
