Inner Circle Trader's Pro Traders Club 2012 - 2013 Series

Just saw the earlier post :slight_smile:

Youā€™re killing it today!

All you guys seem to be doing so well today! But I sure didnā€™tā€¦ :frowning:
Friday, Monday and Tuesday was all the time it took to completly loose all the profit Iā€™ve made over the last two months! :frowning: Thatā€™s really demotivationalā€¦ I thought I was doing quite well for a newbie, but all it took to remove all that progress was 3 bad days! What an idiot I am!
Loosing streaks suck!
Hope you guys are doing a lot better than me!

Wow, shifting up again, I should really have the EUR/GBP chart open too. I assume its becuase of GBP selling? Poor Cable is taking a beating againā€¦

Managing risk will allow longevity. Longevity allows for plenty of practice in this environment. Take it slow and try not to dwell too much on the losses. For example, risking 0.5% each time, that will allow you to test your ideas without worrying about the loss that may result. That doesnt mean jump in at everything you see, but it does help to control the amount of pain your account incurs when it goes against youā€¦

Everyone takes losses, make sure youā€™re learning from them. :slight_smile:

Euro buying - rumour on wires about some ecb people happy with a high euro - wait till their boss (Germany) hears that!

Yep, saw this via twitter:

@zerohedge: Here come the unnamed sources again: ā€œEUR still not strong enough to prompt action out of the ECBā€

:slight_smile:

Also, glad to see 1.3580 tagged. I knew I should have held :smiley:

Really strange that one - apparently euro spiked on the back of some source or other stating that the Euro is not high enough to spark monetary action. So following that logic everyone buys the euro so that the ecb can talk rate cuts so the euro can come back down - duh whatever?? Mmnmmā€¦sounds like skullduggery prior to the ecb on thursday methinksā€¦

I can see ICT Stinger (1H HG and type one stoch on 15 min) sell on EURGBP! Does it works on crosses? How do you think guys?

I thought this was a good setup to be honest as it had the HTF in support along with an OTE and very much in line with the bullish MS, the only reason I didnā€™t take it is because I was still thinking we would see a top this week so I was bullish early doors on Monday thinking we may get the top by Tuesday /Wednesday for me to get short. Biggest mistake I could have made especially leaving the house and no stop loss in place!!! I lost 6.25% of my account that morning and therefore didnā€™t feel like a trade this LO. Iā€™m currently long Fiber from this NYO with 40pips currently so may close this at 18:00GMT and take some payment.

Hope that makes you feel better Esser! Itā€™s not just you!

Trade the charts not our thoughts is engrained in my head now as well as making sure the stop loss is there!

i never said that this was a bad setup. i was looking for longs around 1.3474 as well this morning due to analysis i did last night. i just thought that the entry was ā€œprematureā€, without waiting for a break in mf. i did not get in, because after the mf broke to the upside, there was not pullback for a reasonable ote to get in. that is what i meant all along. and glad to see michaels tweet today: ā€œMy thoughts were on target last night however LO didnā€™t give me a entry and ran without me. I took a smack early NYO but used the Figure BE+ā€. LO did not give him an entry either, so at least michael is on my side :stuck_out_tongue:

Yeah, I hear you on that actually regarding the pull back not being there.

But hey weā€™re on all on the side here dude! We all got the same goal.

I would like to get this losing streak behind me as soon as possible! So, I thought we could share some thoughts and ideas for tommorrow :slight_smile:

Iā€™m talking about the fiber now btw.

Market structure still seems bullish to me, and today fits very nicely with what ICT teaches - the low of the week forming tuesday in the LOKZ.
So, tommorrow we could perhaps expect something similiar as what happened today at LO, which was a judas swing below Asiaā€™s low. Thatā€™s the first thing I will be looking for when getting up tommorrow :slight_smile: Unless there is a reason for this to be very wrong? - Which could very well be! :wink:

But what will you guys be looking for tommorrow? :slight_smile:

I would be looking to get long around 3550. If 3550 would not hold, then long 3520. TP1 around 3620, TP2 3650.

Thank you very much for that reply :slight_smile: But, how do you know in advance whether or not 3550 will holdā€¦? I mean, when you are sitting at your screen ready to press ā€œbuyā€, how do you know not to do it when price hits 3550? Or will you be looking for an OTE from that level?

You cant know in advance. I would watch whether the level offers any kinda support. To me price action is everything.

Yeah but if they offer support, wonā€™t price then bounce from that 3550 level, and you will end up chasing priceā€¦?

After it bounces, it should come back down close to the level, thats when I buy it. If it does not come back, I just let it go, and stalk another setup.

Oh, now itā€™s making sense :slight_smile: So basicly, you want price to touch the level twice, right? :slight_smile:

Something like that. It could also be an OTE from the level to high of the bounce.

Okay. Thank you for clearing that up! :slight_smile: