sold eurusd
Trading Forex
- Thread starter padutrader
- Start date
i have found that as i keep losing i keep learning.....but when i started trading this was not the case....losses made me give up.....
in 12 years i have given up or forced to give up-lack of funds-3-4 times. but only when i started taking losses in the right perspective did i improve: "i failed my way to improvement".Improvement and learning never stops.
What Ray Kroc said is especially true about trading or any business or passion:
in 12 years i have given up or forced to give up-lack of funds-3-4 times. but only when i started taking losses in the right perspective did i improve: "i failed my way to improvement".Improvement and learning never stops.
What Ray Kroc said is especially true about trading or any business or passion:
padutrader,
When you can ignore a loss or losing streak, it means you have confidence and you trust your skills.
Great work man.
i understand what you are trying to say...and thanks for the encouragement...but
i never 'ignore' my losses...quite the opposite.... i look the Devil in the eye....i eventually learn from them.....
True i am not fearful of them.
i hope that is not over confidence, as some here have strongly suggested......
but i must improve my entries
these smell of over confidence even to me
ironically my exits are good
all traders must understand that markets, in order to be able to go down, must MUST show considerable evidence, that it is going up.
and vice versa for upmoves
and vice versa for upmoves
actually what has been going on whole of monday is a corrective move in a bull IMO
that bull move may reasert itself possibly in American session on tueday
Just curious why you sold there...
You drew these trendlines;
price broke out of the channel, retraced back; so a bounce would be more logical
(like on the left side of this chart)
closed trade
actually that looked like a trend down .....but i forgot, it was in range, so a strong trend will reverse, in another strong move up..so it was a basic mistake.....but because it was a range i felt it would come back in another strong move down, which happened and i closed the trade.
sometimes when price breaks strongly out of a channel it re enters the channel and tries to find the bottom line of the channel.
also this was the first break out of the channel and that usually fails
this range from yesterday should end in a move down, which will be climactic and then the up move will start.....but the market sometimes turns without a climax.
but like yesterday this will become clear in American session.....the market messes about whole day tires out both bears and bulls and a move happens in American session
i drew these on the 30 min