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

Haha! Guess who was short from 1.3570, but closed out the trade at BE? :smiley: Oh yes! Once again!!

and Boom! Yupā€¦I need to get use to this :)ā€¦ Visualization helpsā€¦

Fiber - standard LO into resistance, NYO reversal.

Dā€™OH! ā€œa fewā€ :smiley:

Im just glad I was sitting on my hands and not attempting to guess the next BUY level :stuck_out_tongue:

Nice trading today, seems money was made on both ends!

also money lost on both ends.

just make a rule to let everything run until either your 1. tp or your SL is hit. you just have to trust your own analysis and let it go. the next time you want to close something early, think about this very moment and how it made you feel. it sucks, doesnā€™t it? iā€™ve had the same experience quite a lot of times. this should tell you: your analysis is fine! let it run and it will pay you and also it wonā€™t be such a mindf**k (sorry, i am overusing this word but i really like it :D) if you close at BE and it goes your way. REMEMBER THIS!

Nice bounce off the weekly S1, coming back for the stops? :slight_smile:

Iā€™d be wrong not to say good job on the earlier analysis. Kind of a reverse "I told you so: lol. Well done.

Perhaps that swing low on the 31st had more weight that I thought :smiley:

Eitherway, weā€™re well and truely through that 1.3460 level now :slight_smile:

Gotta take what you can get!

Hey at least you didnā€™t lose your shirt like some of usā€¦ (points finger @ self) Ha ha!

Indecisive LOL

For those who doubt the power of SMT divergence. Im kicking myself!

Serious move on the Fiber!

Iā€™ve lost 10% this horrible horrible week so far! :stuck_out_tongue:

Yeah I got caught with my pants down big time!
Was looking at it making a second measured move up & taking out the Asian high on Wednesday before consolidatingā€¦ we live & learn I sposeā€¦

Been a few days / weeks since i last postedā€¦ Truth be told, had pretty much a horrible start to 2013ā€¦

Its been now a year since demo trading, and around 5 months-ish into trading my live account, and although i feel like my knowledge of the markets has widely improved, this year especially it seems i cant make a winning trade to save my lifeā€¦

Literally since around January, ive pretty much taken loss after lossā€¦ after loss! Reduced my risk right down to 0.5%, and keeping to a maximum of 2 trades a day - win or lossā€¦

I went back to basics a week or so ago and remembered the old rules i had tried to drill into my head - the trend is my friendā€¦ Only looking for trades in the direction of the HTF (keeping away from the short term counter trend scalps), and drawing up my anticipated areas for price to enter and then waiting for a setup in those areasā€¦

I went over one of ICTā€™s livestreams the other night and he mentioned that if your still struggling after a year, its normal, but the best thing is to keep at itā€¦ Id be lying if i was to sit here and say it wasnt tough and frustratingā€¦ Psychologically and emotionally its draining to analyze the markets each weekend, wake up early every morning and fit in trading around my final year uni assignments and lectures (which im drastically falling behind on!)ā€¦

Im not usually one to share and open up, but after the beating the market has given me, figured maybe expressing myself may help me, or maybe even others to know there not alone lol!

This week i was working under the assumption the cable made its high of the week on Tuesday (which for now stands true), and Fiber made its low on Tuesday also (which obviously i was wrong as its been blown out today)
Looks like possibly the USDx is trying to run the stops at the 80.10 level before a continuation from the bears, and consequently a bullish fiberā€¦

Account is currently sitting a little under -6% overall. Planning to keep risk to a reduced level til i can work my way back to break even at leastā€¦

Down, but definitely not outā€¦ :57:

Easily Distractedā€¦ lol

Hey mate! Good youā€™re still in there & 6% isnā€™t the end of the world. Iā€™ve been on demo for over three years now & only just this year have I remained in the black, January been my best month everā€¦ funny how itā€™s different for each of us eh? I do have a live account but havenā€™t touched it yet & sure as eggs itā€™s going to be a tough one for me going live :34:
Hope it comes right for you soon :slight_smile:

Its refreshing to know that there is some light at the end of the tunnelā€¦ Its actually good to hear that even some that struggle for years do end up turning it around and seeing some consistencyā€¦

If anything, this last month has definitely helped me to learn to handle my losses betterā€¦ I remember my losing trades in the past would have lead to slamming of doors, being moody with friends and family. Nowadays iā€™m strangely used to seeing a loss that ive become numb to the pain of it - not necessarily a bad thing as my risk management is still in check, just means im less moody after a lossā€¦

I was always told itā€™d be a long journey, im in it for the long haul!
Living and Learning with everydayā€¦

:57:

Absolutely and positively yes! There is always a light in a tunnel.

Iā€™ve read it somewhere that on average it takes about 2 years to starting to ā€œget itā€ and by the 3rd year you will start to see some profit but of course it all depends on the person and what was going on his/her personal life whether a career, family issues, financial, etc. that you are out of focus on. However, if you put enough time and effort to manage it and make it, you will get there.

I canā€™t express it enough that I really do think that we have to focus more on our psychological side. Even though you have a really good trading plan/strategy sometimes itā€™s not enough. The way the market behaving as is that is so unpredictable sometimes (if not most). Only your psyche can guide you whether to take on a trade or not and how you handle your loses psychologically and riskā€¦

I donā€™t know if it is just a ā€œflukeā€ but for this past 2 months, I am doing really well though I am only been trading for a little over a year. I did Demo early last year for about 2-3 months and I hate itā€¦lol. I want the real deal :). So, I have been trading live since but on a mini account with a very small capital.

My goal this year is to be consistent while I save money to put in more capital next year. Then hopefully by then I am killing it and killing it good!! ā€¦LOL.

Keep your head up highā€¦ Good-luck!

Very interestingly todayā€™s low of 1.3367 is the 161.8 retracement of Tuesdayā€™s low to high. Additionally todayā€™s low touched the LO high from Jan 22. Todayā€™s move occurred at the 78% retracement (creating a Judas out of the Asian session) of Tuesdayā€™s high. Market structure was bearish due to Tuesdays low taking out the low from the 31ā€™st. There are at least four or five primary concepts that ICT teaches.

I would bet the balance of my (ever decreasing) trading account that ICT was all over this move today in his primary trading accounts.