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Purposeful Drivel
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Created: by GaryD Attachments:10

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Purposeful Drivel

  #21 (permalink)
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Where is the perfect entry?


The place you would be proud to be wrong.

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  #22 (permalink)
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GaryD View Post
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u made me think for a min ..... abcd pattern with retrace up... nice buys at bottom

well played

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  #24 (permalink)
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Brutus View Post
Bulls & Bears


rrrr, I got really into this and wanted to see the part 3 but the user never uploaded it and I can't find it anywhere online. >.<!!!, anyways thanks for the link I enjoyed it while it lasted lol. Any other similar good find films? I eat this stuff up.

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GaryD View Post
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FULL SCALE IN, STOP OUT.

Came in less than 60 seconds. And so what did I do?

I ate a banana and some peanut butter crackers, and showed my wife the Rap God video from Eminem.

It happens. Next session is reset.

If I was actively watching this trade develop I would have trailed my stop up to the red line after price broke the green line because it was a straight away move... but it looks like this all happened so fast. take your eye off of it for a minute and oops!

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I also might have scaled out partially at the green line. This is the wonders of forex: scaling in and out, something I wish I could do this with as much ease as with futures.


Last edited by Itchymoku; December 4th, 2013 at 05:49 AM.
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Itchymoku View Post
If I was actively watching this trade develop I would have trailed my stop up to the red line after price broke the green line because it was a straight away move... but it looks like this all happened so fast. take your eye off of it for a minute and oops!

It had to do with the target (not shown and not within that view) and the stop. Target one was not in range yet. That screen may be a small timeframe, my trade might have been viewed from a higher time. I don't remember that exact trade, but I choose a point where I am wrong if price gets there. And sometimes, the hard stop is even outside of that.


Itchymoku View Post
This is the wonders of forex: scaling in and out, something I wish I could do this with as much ease as with futures.

Exactly. I trade one futures market, and only because I know it so well. But I will trade any forex pair, I get to pick the size in hundreths. Very relaxed.

 
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I used to hate forex when I was scalping but over time it's grown on me. fxcm server side oco and mobile platform is a nice perk as well. I haven't invested on my own vps to hold my orders but I know I'll eventually have to incur the cost or the cost is going to incur me now that I like to trade on the go. I like the amount of news and the ability to trade at night too. But most of all it feels good to scale. I know others have done studies that scaling doesn't provide any inherent value to the profit of the trades over time but it does reduce the amount of psychological stress. It also helps one trade in a round about way that doesn't revolve too much on the noise. I know however that I can't get too carried away with scaling in and out because that does start to dance it's way into the territory of over-trading. It's all a balancing act in the end.


Last edited by Itchymoku; December 4th, 2013 at 09:35 AM.
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  #28 (permalink)
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Sorry to be the thread killer, I seem to have that unintentional tendency.

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GaryD View Post
Where is the perfect entry?


The place you would be proud to be wrong.

This reminded me of a quote (though I'm not sure who said it?):

Quoting 
“You haven’t failed, son, because you haven’t tried to succeed. Don’t credit yourself as a failure, you’re worse than that.”


"If I agreed with you, we'd both be wrong."
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Itchymoku View Post
Sorry to be the thread killer, I seem to have that unintentional tendency.

The thread is not dead, just not very active. Party on.


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