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4 minutes ago, Caseynotes said:

you fail to acknowledge the time i have spent on you, going over problems on the platform, working out what is and what isn't, for you, I don't even trade on the blimmin thing.



I have said it before and will say it again; i thnak you for your effort and patience with me.  This is not the first time I have acknowledged you.   You haven't actually given any answers Casey that relate to ME, the Person, The Ego.

It's not that easy.  I'm not a number, I have a personality, a character.  This is the fundamental curiosity before we even get to a chart.

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1 minute ago, nit2wynit said:

Do you still want to help me?

I am happy to try to help anyone, most though just want confirmation of naive and inexperienced concepts of what they think trading should be rather than what it actually is.

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6 minutes ago, Caseynotes said:

I am happy to try to help anyone, most though just want confirmation of naive and inexperienced concepts of what they think trading should be rather than what it actually is.

This isn't me. I don't have a concept.  is it going up or down 10 points?  I can take 5 going either way.  That's my Plan.

I'm highly intelligent.  But intelligence has little to do with knowledge.

I've told you my errors.  Pre-emptive Breakouts.  Consolidation.  Small Stops. Reversals.  Betting against the Trend.

I know time and time again what i do wrong, even as i do it.  My problem isn't what i don't know, it's about what i do.

I can read a chart.  I know what candles are.  I know Support Resistance.  I know about Stop Losses and PL ratios.  I know Spread and Bid Mid and Ask.

I'm not at fault because of what I don't know, but what I do.

Let's start again.  You can be my Best Man if i ever get married :D

 

Edited by nit2wynit

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12 minutes ago, nit2wynit said:

Do you still want to help me?

everything I post is pregnant with thought

pregnant with thought is not thought, it just means you've been *******

you need to drop the personality and be a machine, a number, because the market just does not care about you.

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3 minutes ago, Caseynotes said:

you need to drop the personality and be a machine, a number, because the market just does not care about you.

Agreed.  The Ego is left at the door.  Just try not to be such a **** about it ey!  We're not the Market.  We're people. :D

I've started watching the YT vids you suggested.  I'm 3 in.  Nothing i don't know, but everything i don't apply.

Edited by nit2wynit

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7 minutes ago, nit2wynit said:

I'm highly intelligent.  But intelligence has little to do with knowledge.

yes, the intelligent man knows that a tomato is a fruit but the knowledgeable man knows not to put one in a fruit salad.

Intelligent people think that trading is all about technical analysis but it's not.  

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5 minutes ago, Caseynotes said:

yes, the intelligent man knows that a tomato is a fruit but the knowledgeable man knows not to put one in a fruit salad.

I feel bad saying this now. Knowledge is knowing a Tom is a Fruit.  Intelligence is not putting it in a Fruit Salad.

Intelligence is the ability to think to analyse, to digest.

Knowledge is learning.  Learning that a Tom is a Fruit, for instance.

You can be highly intelligent but know nothing.  But you can now everything yet fail to be intelligent.

But i get your point. :D

Edited by nit2wynit

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5 minutes ago, nit2wynit said:

I feel bad saying this now. Knowledge is knowing a Tom is a Fruit.  Intelligence is not putting it in a Fruit Salad.

Intelligence is the ability to think to analyse, to digest.

Knowledge is learning.  Learning that a Tom is a Fruit, for instance.

You can be highly intelligent but know nothing.  But you can now everything yet fail to be intelligent.

But i get your point. :D

that's fine, the saying is borrowed from differentiating between smart and wise.

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8 minutes ago, Caseynotes said:

that's fine, the saying is borrowed from differentiating between smart and wise.

It certainly is.  Knowledge is knowing, Wisdom is knowing what to do with knowledge. 

 

OK, pissi  ng contest over.  Di..cks well and truly shown.

I have an education to acquire pronto.  I have every day for this.  My success is a few pages away.

Here's hoping that's true.

My greatest learn is not about Instruments, Indicators etc. but how I perceive the market and my approach to it.

It's clear to me now that with only 1k I can only really achieve £2.50 or £5 in small amounts.
 

I'm not trying to make back my losses, they were a lesson.  I just want to grow from £953.

 

Peace

Edited by nit2wynit
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Always remember that you can have the most perfect education, the most complete plan in the world, and you could still lose money.  That's the nature of trading and that's why you will almost always see every trader that 'makes' it stops making trading their main source of income and starts selling training courses and books instead.  Because it's a steady, stable income - something trading can never be.

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19 hours ago, dmedin said:

Always remember that you can have the most perfect education, the most complete plan in the world, and you could still lose money.  That's the nature of trading and that's why you will almost always see every trader that 'makes' it stops making trading their main source of income and starts selling training courses and books instead.  Because it's a steady, stable income - something trading can never be.

but, but, there are some 10 million fx traders alone, that must make for a pretty cramped educators market and so  probably not a steady stable income at all except for the very few, if the above was true.

And if you are trading the longer time frames you do have the time to do both, why would you 'stop it' if you have 'make it'.

And though you could lose any single trade, if your trading system is not profitable you're not going to last long anyway. If you have a history you are going to be nagged constantly to give tuition.

The real problem is that systems are personalised, it's unlikely you could just pick up someone else's system and instantly make it work, the skills are not really transferable but rather need to be learnt by each individual. Probably the biggest benefit to a learner would be to have someone point out the dead-ends in advance, that would save an enormous amount of time/money.

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27 minutes ago, Caseynotes said:

but, but, there are some 10 million fx traders alone, that must make for a pretty cramped educators market and so  probably not a steady stable income at all except for the very few, if the above was true.

And if you are trading the longer time frames you do have the time to do both, why would you 'stop it' if you have 'make it'.

And though you could lose any single trade, if your trading system is not profitable you're not going to last long anyway. If you have a history you are going to be nagged constantly to give tuition.

The real problem is that systems are personalised, it's unlikely you could just pick up someone else's system and instantly make it work, the skills are not really transferable but rather need to be learnt by each individual. Probably the biggest benefit to a learner would be to have someone point out the dead-ends in advance, that would save an enormous amount of time/money.

 

All true ... I still have my fingers crossed :D

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1 minute ago, dmedin said:

 

All true ... I still have my fingers crossed :D

I think one of the most valuable tools for saving time is a simulator, you are able to run a weeks worth of system checking in a few hours on a Saturday afternoon with a read out stating plainly if the system is likely to be viable or not, yes it would still need to be checked out live but you have a head start in saving yourself a week on demo.

Sure you can do similar with just straight manual back testing but it's too easy to con yourself using that method.

With a sim you can slow fast forward to find the set up, stop to set the orders, then fast forward to see the result which is recorded for you, run 20 - 30 trades and see the aggregate score, throw away and start again or refine and retest.

 

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What I'm asking is, is there anything obvious in this that i'm not aware of, that i should be considering?

I know it's a slow mover and with only £1ppp it's not going to make me smile after 4hrs.

I'm just going over my own ideas to see where i might be going wrong.  

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15 minutes ago, nit2wynit said:

How's this for a Trade Idea folks.?  Back to DB.

Any thoughts on it.

There was a strong bullish open with a test and acceptance of support at 682 so need to be a bit cautious shorting, the H1 chart looks to be the give away one with the last candle (10am) an inside pause, the next candle could be either a continuation up candle or a reversal candle. A close of this 11 am candle below the 9am candle would seem to signal the reversal scenario was in play.

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6 minutes ago, Caseynotes said:

There was a strong bullish open with a test and acceptance of support at 682 so need to be a bit cautious shorting, the H1 chart looks to be the give away one with the last candle (10am) an inside pause, the next candle could be either a continuation up candle or a reversal candle. A close of this 11 am candle below the 9am candle would seem to signal the reversal scenario was in play.

Thanks.  and as a trade, where would the Buy'Sell position be?  Or am i doing it wrong again by anticipating the direction?  Am i too early?  I thought myself it could go either way, but what signals are there if any?

Recent news being Top Millionaire Bankers are being brought in to crate a Super Team.

What Time frame should I be considering when looking to Place?

Edited by nit2wynit

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1 minute ago, nit2wynit said:

Thanks.  and as a trade, where would the Buy'Sell position be?  Or am i doing it wrong again by anticipating the direction?  Am i too early?

What Time frame should I be considering when looking to Place?

you are anticipating this pullback to roll over, wait to see if it does.

two ways to play it but the H1 chart looks key so you could play it straight off that, so a close below 696 and entry on the 12pm bar continuation down or switch to the lower time frame and wait for a pullback to enter short.

This 11am bar is crucial, after an inside bar the next bar should be directional, either continuation up or reversal back down, don't really want to see continued uncertainty with another pause bar but it's looking like that may happen, see if someone steps in in the last 15 min.

 

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Is this proof why I keep failing?  Am I getting in too early before a clear direction is proven?
Regardless of the direction on this one, it was necessary to prove what I keep doing wrong.  Guessing instead of following.  This will be the last time I enter a trade until the direction is clear.  possibly another £6 lesson.

129159087_ProofofFail.thumb.jpg.20d14908f4421c56651b1d02d54cbf46.jpg

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3 minutes ago, nit2wynit said:

Is this proof why I keep failing?  Am I getting in too early before a clear direction is proven?
Regardless of the direction on this one, it was necessary to prove what I keep doing wrong.  Guessing instead of following.  This will be the last time I enter a trade until the direction is clear.  possibly another £6 lesson.

yes, the H1 chart players halted the 11am bar going down further right at the 9am bar close level, they stepped in to prevent a reversal pattern showing up indicating they are still in control of price.

The stop is fine because if hit the idea behind the trade would be invalidated, but the entry was before it was clear the bears were actually in the driving seat.

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1 hour ago, nit2wynit said:

How's this for a Trade Idea folks.?  Back to DB.

@nit2wynit

Just a different prospective. 👿 

DBK-1-hour.png

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6 minutes ago, Foxy said:

@nit2wynit

Just a different prospective. 👿 

DBK-1-hour.png

Yes it was always possible.  The recent News suggests a big shakeup.  Could provide enough to drive it back up.

Seems it's going now.  There's my £6 quid gone.. Pooof


I think for me with DB is I had no faith in a recovery.  Looking at the Weekly, it's the lowest it's ever been; relatively.

Since the big drop last week I figured it was numbered.  I expected it to drop back to 580.  

I seem obsessed with Drops :O

Maybe it can turn around.

Edited by nit2wynit

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35 minutes ago, nit2wynit said:

Am I getting in too early before a clear direction is proven?

there is always a case for either direction so look at structure, decide on probabilities then decide what you need to see to validate the decision before entry. The mistake wasn't the call, it was not waiting for validation.  

the 11am turned out to be another pause bar so with the entry too early are stuck in a 50/50 situation when you really need probability on your side.

 

Edited by Caseynotes
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Well, I got it wrong.  what would normally happen now is I'd let it Fail, then assume it's going the other way, for it to be Fake then drop lol.  Then I'd end up chasing it............

Maybe I'll leave this one and walk away.  I think I'll wait to see if there is a big drop and find a way to go Long instead.


i know you're not supposed to move your stops, but would it be wise to move up up to 709?  This is a £10 Stop for me.  10points.  Let it Fail or Add?  Just advice.  I won't shoot you if you're wrong lol

 

1318813175_DBfail.thumb.jpg.48d3b5a0eb10710c9f6ba8a72caccdbe.jpg

Edited by nit2wynit

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Hmmm, I moved my Stop to see where it would end up now i can't move it back down.  Is this right?  

I suppose it's the 6pt minimum.?

Edited by nit2wynit

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2 minutes ago, nit2wynit said:

Hmmm, I moved my Stop to see where it would end up now i can't move it back down.  Is this right?  

I suppose it's the 6pt minimum.?

yeah, probably.

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10 minutes ago, nit2wynit said:

i know you're not supposed to move your stops, but would it be wise to move up up to 709?  This is a £10 Stop for me.  10points.  Let it Fail or Add?  Just advice.  I won't shoot you if you're wrong lol

no, for the reason I gave concerning the stop previously, you might get away with this time but one day you will be really really sorry.

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I've proven my point to myself.  I got out for -£2.80  I don't care which way it goes.  It was a lesson to myself.

Stop buying into Consolidation areas!

Stop buying Slow moving Instruments.

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12 minutes ago, nit2wynit said:

I've proven my point to myself.  I got out for -£2.80  I don't care which way it goes.  It was a lesson to myself.

Stop buying into Consolidation areas!

Stop buying Slow moving Instruments.

your original stop level was in a reasonable place in relation to the trade idea and hasn't been hit as yet, so lessons from this one trade so far are;

not to get in too early

not to get out too early

wait for validation of the trade idea

be wary of consolidation especially on the lower time frames.

Edited by Caseynotes
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