35854 replies to this topic

[delta66]

What I try and do is to fragment my position. 2 or 3 contracts. If it is a medium term set-up (ie not scalping), I will close 1 contract after 100-150 pips profit. Then I move my stop to entry level or just beyond it. The VERY difficult part then is to leave it. The mind games will continue. But this is where the almost-mechanical part of trading sets in. Stand back and assess the situation in terms of Risk/Reward. You have made at least 100-150 pips on a third of a position. The remaining risk is zero and the remaining reward is anything between 150 and 450 pips (depending on ATR).

 

Over a large enough sample set you will have profitable returns of at least 200 pips for the full exposure. Sure, half of them will bomb out with only the first profit, but the remaining ones will be sweet. Trading is a long term commitment, not a 20/20 cricket game.

 

 

[Roundtree]

roundtree already gave his view...'bear pain'..what pleasurable pain was that? and what a clanker call.. i on the other hand gave free money away....short 46430 odd..gap at 46070 to close 350 pips...for free..what a guy..now thats a super star i said it was my last post but oooooo man i couldn't help it swoosh! haha!

Great call, brother.

 

Happy trading.

[JJBen]

My sitting tight confusion syndrome in play again this morning....from a nice green position earlier to a beautiful red one...

Plasma

 

Sitting tight confusion syndrome: Brilliant description. It's like having 6 voices in your head. One saying "take the 100 pips before she turns". The second one saying " it was 150 pips and now while you site here and debate you are losing 10 pips a second, get out fool". The other voice will later say "you had 100 pips now you in a loss, fool". The other idiot shouts "you closed out for a 100 while the move was a full 400. The professionals take 400 and you, fool, only took a fraction of what was obviously on the table". You can go on and on. A solid mind F^%$&.

 

What I try and do is to fragment my position. 2 or 3 contracts. If it is a medium term set-up (ie not scalping), I will close 1 contract after 100-150 pips profit. Then I move my stop to entry level or just beyond it. The VERY difficult part then is to leave it. The mind games will continue. But this is where the almost-mechanical part of trading sets in. Stand back and assess the situation in terms of Risk/Reward. You have made at least 100-150 pips on a third of a position. The remaining risk is zero and the remaining reward is anything between 150 and 450 pips (depending on ATR).

 

Over a large enough sample set you will have profitable returns of at least 200 pips for the full exposure. Sure, half of them will bomb out with only the first profit, but the remaining ones will be sweet. Trading is a long term commitment, not a 20/20 cricket game.

 

I still battle with the same issues everyday. I know how you feel. Good luck trading!

[BlythZ]

roundtree already gave his view...'bear pain'..what pleasurable pain was that? and what a clanker call.. i on the other hand gave free money away....short 46430 odd..gap at 46070 to close 350 pips...for free..what a guy..now thats a super star i said it was my last post but oooooo man i couldn't help it swoosh! haha!

Great call ZoomZ, well played

[ZoomZ]

roundtree already gave his view...'bear pain'..what pleasurable pain was that? and what a clanker call.. i on the other hand gave free money away....short 46430 odd..gap at 46070 to close 350 pips...for free..what a guy..now thats a super star i said it was my last post but oooooo man i couldn't help it swoosh! haha!

[RBM]

I am on the side so that explains the sideways movement, will enter at some point if i can think which way we will go, remember go opposite and you will be in the money

thought so and got it, tnx

[bear catcher]

I'll give you 100 points if you go short! 

I am on the side so that explains the sideways movement, will enter at some point if i can think which way we will go, remember go opposite and you will be in the money

[BlythZ]

Hi, B

 

I've scratched it completely and I'm watching price action very closely. Today's chart's full of gaps, which makes me smile. I'll definitely be going long later, but only after 11h30.

 

How are you positioning yourself? Are you already in?

 

Happy trading, brother.

It is past 11h30, what is your view Roundtree? 

[K~~]

And it allso depends if i go long

I'll give you 100 points if you go short! 

[RBM]

And it allso depends if i go long

yes that too, are you long...

[bear catcher]

also to conclude the week

And it allso depends if i go long

[RBM]

Daily head and shoulder pattern in play and today can be that full leg down

also to conclude the week

[RBM]

Rbm why so low that would really be nice but i doubt it .Why do you think that low, rand will bouy us i think.

Daily head and shoulder pattern in play and today can be that full leg down

[bear catcher]

We could see the 45000 level today....

Rbm why so low that would really be nice but i doubt it .Why do you think that low, rand will bouy us i think.

[RBM]

We could see the 45000 level today....

[BlythZ]

You're long already? I don't know how you do it, brother; I'm terrified of losing money. 

 

Anyway, if holding those longs gets too hot for you, there's always 46224 to get out.

 

Good luck with your trades.

I bought some this morning just below pivot and added some more when i thought she was about to turn but that was against my own rules, shouldn't have done that and a few minutes ago my system gave a buy signal so i bought 1 more now i have 5 longs at an average of 46,181 and i am going to sit tight now, not adding any more. As i type i see the currency has been manipulated again and my buy signal is no longer valid. Will just have to sit tight

[Roundtree]

I have a couple of longs and thinking of adding some more at S1 if we get there or if the system that HDB shared with us says its time to go long. 

 

Happy trading

You're long already? I don't know how you do it, brother; I'm terrified of losing money. 

 

Anyway, if holding those longs gets too hot for you, there's always 46224 to get out.

 

Good luck with your trades.

[BlythZ]

Hi, B

 

I've scratched it completely and I'm watching price action very closely. Today's chart's full of gaps, which makes me smile. I'll definitely be going long later, but only after 11h30.

 

How are you positioning yourself? Are you already in?

 

Happy trading, brother.

I have a couple of longs and thinking of adding some more at S1 if we get there or if the system that HDB shared with us says its time to go long. 

 

Happy trading

[Roundtree]

Roundtree, are you revising your entry point for your long order? 

Hi, B

 

I've scratched it completely and I'm watching price action very closely. Today's chart's full of gaps, which makes me smile. I'll definitely be going long later, but only after 11h30.

 

How are you positioning yourself? Are you already in?

 

Happy trading, brother.

[Vertebrae]

Granny rates top in the Jitterbug competition. S&P 500 Futures +85 points in a week comes close.