bobmaninc's quest to short the Aussie into extinction

[Nikitafx]

Well its not that it fits better. I think at the end of the day the stop really does not matter where you put. If you are right your right. It brings up the profits if not stopped. I am slipping up as of late on my entries though which has made me call into question the tight stops. I have been relooking at everything from my trades and I think the tight stops are fine what is changing is my screen time. I have not spent the time to pick out that perfect entry lately. I used to not spend alot of time reading charts but I used to watch very closely when my entry was setting up. Now I seem to just look at the daily and 4hr and enter as before I looked all the way down to the 15 min. Once all were closely alined then I would enter. Heck I have even sort of bragged on here about I can trade profitably only looking at charts for an hour or 2 a week. While so far that is true I am starting to question if it will remain true over the long term. To be honest here I dont think it is. I have started to realize I am getting careless on my entries and instead of finding a pin bar setup that I love to trade on the daily or 4hr then dropping to the 15 min and looking for the same. I am just getting in and saying I am right so why bother. HEHEHE we all know where that leads. My account equity has gone up lately but to be honest I call it more flatlining. This tells me my overdew drawdown may be around the corner. As I know draw downs are inevitable that does not mean you should accept them before hand and not try to avoid them. At first I blamed it on my stops, Oh they are just to tight. So I made them wider. All that did was give me more breathing room, which is not a bad thing. However I dont think that is the root cause of my problem. I have now have started to come to the harsh realization that I have developed a habbit of not doing the homework I should be doing. Just like the trade I am in now. To be honest if I had done my homework on my entry I would not be in the trade as of right now. I had no confirmation on my lower time frames. Not saying this trade is wrong but I almost think deep down I deserve to take a loss to smack me around a little.

I think this thread might have a little to d with it as I made it to show how I trade and how you can make a profit shorting bull markets. This is the best pair to show that as it goes up an up and up and I keep shorting. Since making this thread it went nowhere fast. So I think thats a factor into why I am rushing my trades. I have to realize I am not here to post trades. I made this to show how I trade. I trade very low risk very high reward setups. So I dont need to trade everyday, every week, even every month (although that does get frustrating) and my account will be just fine. So it is what it is I have alot to work on here as its now a habbit. There easy to form but hard to break. I will keep posting what I am looking for as well as my trades as I feel it gives others an idea of how I short bull markets. I also like seeing your posts as we have different looking charts but we seem to be on the same page most of the time.

Well anyway in the time it has taken me to type all this looks like I will probably get my loss. My stop is at 1.0440. I also notice I lied about my 20 pip stop its 30 pips. I got in at 1.0414 with a 4 pip spread. So BE is 1.0410. I thought my stop was lower, what ever I should look at the chart while I post lol. So what ever happens will happen and I will post it. Sorry for not posting my live trade but I have gotten hacked around this site I little to much so my trading account must remain separate to protect me. My broker fixed it and told me it was from youtube videos. I dont think so personally as I dont really watch videos much. They did see all the ICT videos I download from the Utorrent file a while back so I think thats why they thought that. Who knows and who care now. I was going to use my desk top to use the internet and keep my trading on here but that computers is to slow for me. Works great for trading though. So My live account is not on here only my demo MT4. Which I dont like because the prices on the demo with forex LTD differ from my live account due to the face the demo is variable and my broker is fixed at 4 pips. 4 pips is high but it never changes even in new events. I have only got 2 re quotes ever and those were from me clicking enter and when it asked to confirm it I waited and waited then price was no longer close. Yeah you will get a re quote then. Enough typing but if I get stopped Yunnys chart is spot on I will look a tad higher though about the monthly R2 on your chart. Even though it will be another month soon. That is about the 128% fib of the steep drop off.

Anyways sorry for the ramble. Yunny just send me the bill for being my psychologist on the night.

Call me superstitious but I swear the same thing happened to me!.

[bobmaninc]

I bet you did Nikita. I enjoy this site and I do feel pressured to show proformance on the thread. What I have to remember is to do what I do and the numbers will speak for themselves. Like I said I don't trade everyday, every week, or sometimes I don't get a trade in a month but I don't need to. It's that low risk high reward high probability trade that I look for. I let everyone else trade the rest of the setups.

This thread will regrettably have to be put on hold for a couple weeks. Most know the computer issues I have had lately well the trading computer died and will not boot up or turn on. Pretty sure it's a hardware issue but I have had enough with it and give up. I hope to recover some stuff I had on the hard drive . I have a few bills to get out of the way before getting another one. I do have another computer but it was driving me nuts and I sold it lol you got to see the irony in it. I can trade off the iPhone I am on now but don't care to much for my mobile platform and would not even attempt to post a chart. So I guess I will take that break I have been talking about. Happy trading guys

[SimonTemplar]

Well don't I feel as though I came late to the party! I was like a lost man, wandering the wilderness, then I saw this thread on the horizon, the fire was lit, I pulled up a chair and poured myself a glass of something fortifying... and then realized that you had all left for a couple of weeks.

Seriously, I hope that you get the IT issues sorted out, Bob - personally, I can keep up with BP on the iPhone but I don't go smaller than the iPad for trading, so I hear you there.

Hopefully you just take a short hiatus, which conveniently will give me time to read into this thread (I'm 18 pages behind!), then you come back to it stronger than ever, as I'd certainly be interested to follow.

(Yes, this is a shameless thread subscription.)

Simon

[bobmaninc]

Well welcome to the party ST. Has been a good break though. Took some time last night to do something I have not done in a while and went fishing. I am actually enjoying my time off the charts. I see my short is setting up but I can actually say that I dont care. I will leave those pips for you and Nikita.

[SimonTemplar]

Well welcome to the party ST. Has been a good break though. Took some time last night to do something I have not done in a while and went fishing. I am actually enjoying my time off the charts. I see my short is setting up but I can actually say that I dont care. I will leave those pips for you and Nikita.

That's a good call, Bob - the odd bit of time away is good, keeps perspective on things. And there'll always be another setup!

Hope the fish are biting for you.

[bobmaninc]

That's a good call, Bob - the odd bit of time away is good, keeps perspective on things. And there'll always be another setup!

Hope the fish are biting for you.

That was a nice 120 pip drop. As far as my fishing last night I only caught 1 fish a couple crabs and a hangover. Probably should have tossed the hangover back but heck it was a blast.

[Nikitafx]

Well welcome to the party ST. Has been a good break though. Took some time last night to do something I have not done in a while and went fishing. I am actually enjoying my time off the charts. I see my short is setting up but I can actually say that I dont care. I will leave those pips for you and Nikita.

Got taken out by 20 pips because of news spike Bob.

Nothing more for me till next monday.

[bobmaninc]

Well that just stinks. Sorry to hear that. I might leave a pending order tonight. By the sound of things and the crappy line chart on yahoo we are going to have a nice looking daily candle. I might leave an order at the 50% mark of the wick. That from what I can tell will be about the 1.0520-1.0530 area.

[SimonTemplar]

Got taken out by 20 pips because of news spike Bob.

Nothing more for me till next monday.

Me, too - sounds as though our Stops were in almost exactly the same place, which is some small nugget of consolation, I suppose!

Well that just stinks. Sorry to hear that. I might leave a pending order tonight. By the sound of things and the crappy line chart on yahoo we are going to have a nice looking daily candle. I might leave an order at the 50% mark of the wick. That from what I can tell will be about the 1.0520-1.0530 area.

I guess we all get caught out from time to time! My trade went the same way as Nicky's. Hoping that my USD/CAD Long does me a favour, but basically Niki and I ought to have had a day off, should have joined you on the fishing!!

And if things continue as I expect I'll be joining you in looking for a Short later on today.

[SimonTemplar]

That was a nice 120 pip drop. As far as my fishing last night I only caught 1 fish a couple crabs and a hangover. Probably should have tossed the hangover back but heck it was a blast.

But the route towards the hangover made your trip more fun, so with two crabs and a fish I'd say that that trip sounds as though it hit your TP.

Well that just stinks.

Call me strange, but I love that expression by the way - we just don't hear it here in England!