Baruch's Forex System Journal

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Quote from nycderivtrader:

Well, there really is no solution. This instance I happened to get squeezed at my lowest point. The direction could have just kept going and I would feel good about that stop.

I think that a SL is always necessary (even if it is very wide). Worldwide events can trigger some major moves that can wipe you out in an instance. Really, what is needed is entry/exit management, but no one can always be right all the time.

I'm just learning and dealing with it.

NYCDT
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Yes, we need SL. But why not do like TRADERguy: Only take a 10 pips loss as maximum?
 
Quote from Baruch:

Hey Chaw,

If you want to be a trader, you must make your own decisions. Or you must trade a system. Did you trigger your virgin-trade?
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Baruch,


Virgin Trade, That is what i want to do today!!

I have my Live Account.

All i wanted to know was will the currencies jump back to where they have jumped from?

I am looking for selling or buying signals using your technique.
I cant seem to find any!!

JUst asking for an opinion, What do you reckon my virgin trade should be on.

Appreciate the help,

Thanks
 
Quote from Chaw:

Baruch,


Virgin Trade, That is what i want to do today!!

I have my Live Account.

All i wanted to know was will the currencies jump back to where they have jumped from?

I am looking for selling or buying signals using your technique.
I cant seem to find any!!

JUst asking for an opinion, What do you reckon my virgin trade should be on.

Appreciate the help,

Thanks
More...

Chaw,

I would love to help you get a lot of pips, but it's more important that YOU (and not me or our friends here) make the decisions. I hope you are trading on a demo - or with one dollar at Oanda. Make your own trades, place your own stops - and take your own losses and own profits.
Read what other traders write here - but you learn nothing by trading tips. You can also buy trading books, but if you read this whole thread you will learn a lot.
 
Quote from Baruch:

Chaw,

I would love to help you get a lot of pips, but it's more important that YOU (and not me or our friends here) make the decisions. I hope you are trading on a demo - or with one dollar at Oanda. Make your own trades, place your own stops - and take your own losses and own profits.
Read what other traders write here - but you learn nothing by trading tips. You can also buy trading books, but if you read this whole thread you will learn a lot.
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Thanks
 
Quote from Chaw:

Thanks
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You are welcome. We all started like you - as newbies. Start trading with a demo. You can get one free from all brokers. Start trading trying to "double" your money. You will learn a lot, you will start to get your trading style - and the most important: You will get CONFIDENCE in yourself and your own decisions.
 
Quote from nycderivtrader:

Well, you haven't lost anything in doing this, and you are learning, just like me.

There is talk out there that there isn't large substantial volume behind the move upwards, so we could see a large break to the downside or upside, it is your call.

I, for one, believe that we will see some slight movement upwards (based upon my system, which has signaled slight upward movement, nothing too extreme), and I will be looking to buy on dips and lock in gains (hopefully in the process will not be knocked out by SL!!!!).

Happy trading.

NYCDT
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I think we all could like to learn more about your system. I don't hope you will keep it a secret...
 
Quote from SteveL91:

Could always be worse. I'm sitting here watching the moves, being right on direction and not pulling the trigger. Why? Beats the hell out of me. Sure is annoying though.... :D
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Sorry to hear that, Steve. But why not make a small s/l stop? If you lose e.g. 10 pips, so what? I suppose a small stop will make your more trigger-happy?
 
Quote from Baruch:

nycderivtrader,

Bad. So what is the solution? No stops?
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Hi Baruch,

Would you have any sort re-entry method to handle instances like the one nycderivtrader experienced? Thanks.

Kermit
 
Quote from Baruch:

Sorry to hear that, Steve. But why not make a small s/l stop? If you lose e.g. 10 pips, so what? I suppose a small stop will make your more trigger-happy?
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The problem with that, I've been finding, is two fold: 1) That doesn't allow much wiggle room; 2) The times that a 10pip s/l could be feasible (for me) is when there's already a strong move going on, and pyschologically, I have a hard time taking those kinds of trades. I always worry I'll get in as it fades. Really, the inability to pull the trigger has been more about me not trusting myself. Each day, I become more confident in my methodology; it's just a matter of time before I get things figured out and carve out my niche.
 
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