I hear ya …
[QUOTE=“bigcheefer30;539882”] Definitely shouldn’t have tried to make up for other losses with the nzdjpy trade…o man not good…lesson learned for other people, only risk 2% of your account. Not 50%. How many .02 lot sized trades will it take to make up for 1100$…? Can I get a refund?[/QUOTE]
Never take a revenge trade, haha. And 50% risked… We just saw another member do this not to long ago. It may be smart to even risk a smaller amount on intra day trades as they are inherently more risky than daily. On the Aud and Gbp Jpy pairs price only poked out 9 pips, so a 10 pip buffer would have kept you out of those trades. I see NZD poke out around 20, so that would have been an entry for sure.
If you have lost more than 2% today, I think you should shut down your computer, have a sleep, watch TV, play golf, do something that will take your mind off your losses 
This is a solid PA method, but every method has its losses.
I only got stopped out on GBP/EURJPY this morning, but for those who got stopped out on the others, maybe go to the daily charts and trade them for a few weeks, try grab some nice trades, and build up the confidence again
Cheers
[QUOTE=“adamjn;539891”]If you have lost more than 2% today, I think you should shut down your computer, have a sleep, watch TV, play golf, do something that will take your mind off your losses This is a solid PA method, but every method has its losses. I only got stopped out on GBP/EURJPY this morning, but for those who got stopped out on the others, maybe go to the daily charts and trade them for a few weeks, try grab some nice trades, and build up the confidence again Cheers[/QUOTE]
Thanks for the support guys, I really appreciate it…going to relax for a bit, gather my thoughts and rethink my strategy…I have horrible money management issues that I need to figure out. Daily charts for me going forward, no more than 2% risked, only picture perfect setups.
-bc
a small pin on the daily is valid, but a very large pin on the weekly is not valid?
johnathon where are you!?!?!?!?
[QUOTE=“Pips Ahoy!;539893”] a small pin on the daily is valid, but a very large pin on the weekly is not valid? johnathon where are you!?!?!?!?[/QUOTE]
Nobody is saying a large weekly pin is not valid, you are comparing apples and oranges here. I am guessing the large weekly pin you are referring to is the USDCAD from last week. That had nothing to do with the size of the signal but the question on that is if it was ever a pinbar to begin with as it didn’t close within the previous candle. And I think the comment made is misleading.
There have been trades posted and taken in the past where the Pinbar was a little smaller than the previous candle, but still playable due to the importance of the level formed at and overall market context. This isn’t a license to play every little Pinbar. Every method requires a certain amount of common sense and discretion.
[B]50%?!?[/B] I am really hoping for your own sake that it’s on Demo. I really do. That’s not even funny anymore, I strongly suggest you stick with demo account for now until you once again become consistently profitable.
The Godfather once told me that what we do here it’s not personal, it’s strictly business.
Hi Guys I’m new here and am only 100 pages into the tread, lots of reading left, I plan on reading the whole thing. Just wanted to point out on my chart(Pepperstone) That USD/CAD pinbar closed inside by 1 pip.
Hey man… you shouldnt have done that. Im sorry i was wrong, i shouldnt have input such confidence in that setup. Please know that even best setup fails sometimes… You may know that sentence but you dont fully understand it… man…
Small Pins are NEVER valid on Daily. That was never taught in here.
[QUOTE=“jackson905;539904”] Hey man… you shouldnt have done that. Im sorry i was wrong, i shouldnt have input such confidence in that setup. Please know that even best setup fails sometimes… You may know that sentence but you dont fully understand it… man…[/QUOTE] Dude please do not feel responsible at all…I saw that setup, used my own judgment and placed my own trade…regardless of what anyone said on here I was taking it…
True that, before I make a trade, I say to myself, this is either going to win or loose, I don’t know, no-one knows, only the market knows…
Maybe good to make sure you fully understand that no position has a higher chance of winning than the other… PA just gives us an advantage on the market, not a prediction of what is going to happen, never try and win back losses with a trade, you loose, put it in the journal, start keeping an eye out for the next A+ setup.
[QUOTE=“jackson905;539904”] Hey man… you shouldnt have done that. Im sorry i was wrong, i shouldnt have input such confidence in that setup. Please know that even best setup fails sometimes… You may know that sentence but you dont fully understand it… man…[/QUOTE]
Don’t get on yourself for exuding confidence in a trade! You should always have strong confidence in your trade. Money management and self control is up to the individual.
[QUOTE=“krugman25;539915”] Don’t get on yourself for exuding confidence in a trade! You should always have strong confidence in your trade. Money management and self control is up to the individual.[/QUOTE]
Yeah you are right. It’s maintaining in the zone that’s hard.
I took it from the H8 since the longer upper wick give me a better buffer than H4 PB.
The setup is still valid.
Best Regards,
[QUOTE=“mselva;539924”]I took it from the H8 since the longer upper wick give me a better buffer than H4 PB. The setup is still valid. Best Regards, <img src=“301 Moved Permanently”/> [/QUOTE]
I’m impressed mselva, you took the timeframe that gave you the larger buffer and safer entry. That seems to me a trait of a maturing trader. Best of luck sir!
[QUOTE=“bigcheefer30;539909”] Dude please do not feel responsible at all…I saw that setup, used my own judgment and placed my own trade…regardless of what anyone said on here I was taking it…[/QUOTE]
Hey, please read trading in the zone by mark Douglas if you haven’t. It is strongly recommended by Johnathon and his way of trading was built on top of that idea. You will never fully grasp the essence of this method if u haven’t read that. This is a lesson for all of us.
Pls do not trade live anymore and start trading demo on daily for at least 3 months and after months if you are in profit, then move back to live again. You can’t rush in forex, it takes time.
Thank you.
After some setbacks (I.E. EURJPY), I’m trying to be more aware of safer positions.
I still have an open position in the EURCAD taken yesterday. The only thing that encourages me is knowing that some Seniors are accompanying me on this trip so the analysis was successful. The result will depend of the market.
Regards,
A great book. Pure psychology to analyze the trades before, during and after opening a position.
A very good recommendation!
Common BC, I hope you are kidding?!?!
Why did you expose yourself like that?
I understand you must be frustrated now. You let yourself down,despite knowing that lower timeframe trading is much more delicate and that there is a strict rule for risk management to keep you on track.
There are actually from time to time so called bet the farm trade opportunities because they are such neat setups ,but that one isn’t one and even if it is you gotta keep your exposure in check at all times.
Making up for a lost trade is one of trading psychology pitfalls, that unfortunately caught you off guard. But you got taught not to do that again.
All the best to you BC
Cheers