Quote:
Originally Posted by dpaterso
Well done dr_zeus.
I STILL don't have any open positions - our 'new rules' are keeping me 'at bay' - but I'm sure that WHEN I get back in - this time - NO LOSERS!!!
Entering late - in my opinion - is a valid strategy in itself - as long as you get in at the same or better price. As a matter of fact - if you have a good look - MOST times - there is a reversal - then a retractment - and you enter on the retractment - perfectly valid - just requires more 'restraint' - but it solves the problem of having capital 'tied up' for an uncessary amount of time.
Regards,
Dale.
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Before I read this whole thread, I got excited and jumped the gun. I looked at all the indicators and decided I would enter late on a couple of trades just to see what could happen... since I'm just using demo accounts on MT4 anyways. I went in late on USDCHF and AUDUSD. Currently AUDUSD is doing really well and showing it will continue that way. USDCHF was doing well but is now showing that it may change directions. This is where I can see holding until the PSAR shows change can be pretty hectic. Since I did get in late... way late... I am losing out on profits. If I got in late, but an earlier "late" spot, I can see where on this run it would've been okay and I still would've made a profit.
Last night, I also jumped on USDCAD and am having those "second-thought" feelings. The whole feelings thing again. But I will wait it out and see. Wait for the PSAR!
While trying to sleep last night, my thoughts were spinning around charts and things... hell, I think I even dreamed about FOREX last night... I was realizing how demo accounts can be so different from live accounts. With a demo account, I am still using a bit of caution on making decisions, but I can still go to bed at night without worry. I can really see how on a live account, one would would want to check the charts every 5 minutes and close out funds the second something appears wrong. This is obviously how people either lose or don't gain enough money doing this. Maybe if I demo this enough, I will train myself to wait and gain patience.
Trust in the PSAR (as long as you get in earlier). The PSAR is my friend. I am a PSARist.
We are The PSARist Consortium.
PROFIT Group - PSAR Research on FOREX International Trading... Man, I'm on a roll with this naming thing.