Busy Day Tomorrow

[torero]

It's part of testing the market. So losses like these tell something. I don't worry about it as these are small losses. As long as I don't get angry or complacent about it, I'm ok. When the test finally proves to be right, I'll move more in. Have a good weekend, hopefully next week will be better.

[Sledge]

Torero-
I was given some wonderful advice in my travels that has stuck with me over time. I was told that if I have a loss- to not only analyze the loss, but possibly move my position size down until I get back into my rhythem.

So as an example- if you trade a 2.00 lot on a daily basis. Move your next market entry to a .50 lot or a 1.00 lot. This way you can work back into your "groove" and if for some reason you are still in a "funk" and do lose again- the results will be less detrimental to your account balance!

Sledge

[forsearch]

	Quote:	Sledge
	. I was told that if I have a loss- to not only analyze the loss, but possibly move my position size down until I get back into my rhythem.

+1

Must agree here, wholeheartedly.

Always take the time to look at your losses and find out if you were executing your plan properly, or whether you got sloppy and cut corners on your entry or exit.

And check your assumptions too. You might find that your chosen plan of action is flawed to begin with. Time to revamp and find another approach if that's the case.

-fs

[Jocelyn]

	Quote:	Sledge
	Well I guess there are two camps of thought- some folks think traders should buy in, stay on the trade until it's very peak or bottom- riding all the retracements and adding into their positions. Others are very happy to bank $ and not ride out the pullback- but utilize it to potentially get in again- if the circumstances warrant.

And it can often make life a little easier to arrive at your decision of choice if you got your near side top & bottom access points to hand.

They won't all require running & compounding, particularly if price is engaged within tight constraints. You got choices then as to how hard inside a range you wish to play it.

Alternatively, if prices are stretching out into a nice technical jog up or down the ladder & price re-visits a previous area of conflict, you can wait see if the handover of money is taking place. You'll often witness very obvious weak hands operating (buying/selling) at precisely the incorrect time.

God knows why, but they'll be buying at a previous area of supply & vice versa. If you got these short & long range grids pre-marked, you can begin preparing as price pops back & forth testing for re-engagement.

You don't always require to transact the deal via the big timeframe graph, just map it out & trigger the deal off a smaller, more appropriate timeframe if you get a valid buy or sell ticket.

You can work through a good few pairings too to whittle down the prime candidates. 4, 8 & 12 hour graphs offer you a calmer work surface to plot your action zones, then it's simply a case of waiting till the party comes to town.

And when things get washed out, you got a clear view of where you need to bail out

I chose the Jap, Swiss & Aussie on this gig, no other reason than they offered the brighter & clearer views.

[wasp]

I don't know what to say but wow!

Having come from 3 years at T2W, I have never read so much useful and informative information in one thread.

Some absolute gems in there and I'm just going to read it all again and see if there's much/anything I can even add

As Louis Balfour from the fast show jazz club would say...... Nice!

I'll just chuck in an alternate view for now, which I look at incorporating a trend view too.

[Art Krantz]

Howdy Wasp

Yeah, this is a pretty neat joint to hang out in. It houses some very switched on individuals spread right across the field.

Much of the content revolves around the important aspects of what drives the market flows. I like the fact that the psychological/emotive credentials are often referred to & discussed on this site, which is good to witness.

Some savvy contributors reside over here, & you fella's have brought along Mr Burrow of Phoenix, Firewalker & Gammajammer to add a couple more notches of quality to the totem pole.

I'm sure there are others (including yourself) who have decamped this week who will continue to trickle across, & will add to the quality of what is a pretty top grade arena.

I for one look forward to welcoming increased activity from you good folks. Unfortunately, time isn't always a great friend, but it's a breath of fresh air to peruse the content on here when time allows.

I hope y'all find the place both condusive & enjoyable. Good to have you folks aboard

[firewalker]

	Quote:	wasp
	Having come from 3 years at T2W, I have never read so much useful and informative information in one thread.

Ah, you were always more interested in cheap talk rather than trading

	Quote:	Art Krantz
	Some savvy contributors reside over here, & you fella's have brought along Mr Burrow of Phoenix, Firewalker & Gammajammer to add a couple more notches of quality to the totem pole.

Wasp & me are probably responsible for the latest "group-exodus"

[milliard]

	Quote:	Jocelyn
	I chose the Jap, Swiss & Aussie on this gig, no other reason than they offered the brighter & clearer views.

I see you didn't waste much time elbowing your way in

At least this place might begin to smell a little sweeter.

[milliard]

	Quote:	firewalker
	Wasp & me are probably responsible for the latest "group-exodus"

I guess Mr Sharky couldn't raise the contract bonuses to sign you fella's on for another stint huh?

I hope Admin have ordered more desks & chairs, looks like the floors about to get busier.

[Sledge]

	Quote:	Jocelyn
	And it can often make life a little easier to arrive at your decision of choice if you got your near side top & bottom access points to hand. They won't all require running & compounding, particularly if price is engaged within tight constraints. You got choices then as to how hard inside a range you wish to play it. Alternatively, if prices are stretching out into a nice technical jog up or down the ladder & price re-visits a previous area of conflict, you can wait see if the handover of money is taking place. You'll often witness very obvious weak hands operating (buying/selling) at precisely the incorrect time. God knows why, but they'll be buying at a previous area of supply & vice versa. If you got these short & long range grids pre-marked, you can begin preparing as price pops back & forth testing for re-engagement. You don't always require to transact the deal via the big timeframe graph, just map it out & trigger the deal off a smaller, more appropriate timeframe if you get a valid buy or sell ticket. You can work through a good few pairings too to whittle down the prime candidates. 4, 8 & 12 hour graphs offer you a calmer work surface to plot your action zones, then it's simply a case of waiting till the party comes to town. And when things get washed out, you got a clear view of where you need to bail out I chose the Jap, Swiss & Aussie on this gig, no other reason than they offered the brighter & clearer views.

Jocelyn-
Since their is no "Mouth Gaping Open" Icon Smiley, you'll just have to envision it. Thanks so much for joining in the thread, I am glad you have joined in. Wow! Thanks for what has been the first post of yours that I have read. Hope to hear more about what is in your brain!
Regards,
Aaron