hey K.C, u still long pound dollar ahead of NFP?
Right now I am. I just got up. Have to check my positions
i erased yesterday s post cos i was trying to get u to close the positions on GU 
(figured it s none of my bussiness). but since i know ur trading live with a small account, and u are in green after aussie kiwi, i didn t wanted u to give back what u made. i don t wanna seem out of place, just trying to help
That’s great! I’m always open to suggestions or reminders!! Thanks!
I’m still long and going to hold as I tend to hold for a week or 2. It’s my understanding that there will be a possible bump or spike but will “revert to mean” in a few days.
As I am long, based on my take on the chart, I am going to put a buy limit order down low and if it hits and “reverts” I’ll have entered at a good level. If it goes up I may close.
My next post should be after 8:30! I hope it’s 
and not 
Thanks for checking in!!
KC
Edit: 39 minutes to “ignition”
Edit 2: NFP no ignition or implosion. Staying the course
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GBP/USD may be at the lower end of support / approaching demand in the 1.29200s.
Waiting to see if price moves up from this zone if so placed an additional buy stop to be triggered on the way north.
KC
u got courage lady, what i mean is i couldn t trade like you or others here for that matter. not saying that averaging down doesn t work if ur disciplined and have a stop for all ur positions or a place where u say no more, but i can t just make peace with the drawdown. kudos to you
Just for the record… I’m a guy…
My draw down is fairly shallow. Only trading small lots. .01
I’m not a “trader” by any stretch. I’m trying to think before I act and use stop/limit orders 99% of the time. I have been laying stop orders in front of the trend. I’m thinking that as a US trader having to deal with FIFO, this will allow me to close my initial orders as they head into profit and ratchet my way up the pip ladder without backsliding.
This is all theory and speculation!!! “Pay no attention to the man behind the curtain!!” 
I used to fire off market orders like I was at the OK corral and it killed me!
I am sure there are folks here who are laughing at my trades “What the heck is he thinking?!” … Live and learn!! I’m trying to d both!
KC
first of all, my apologies. second, whatever works, if this type of aproach is working for u, then why not…as long as u feel ur makin progress. i m trying to limit my drawdown as much as possible, and try to make it a risk free trade as soon as possible to take the edge off…but we are all different. so good luck
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Not a problem at all … pretty funny!! 
For the end of the week I’m just under a 10% DD.
It looks like GBP/USD might be at support. Only Monday will tell me for sure.
USD/CAD has been creeping along resistance the past 3 days, slightly pip positive on shorts. I’m thinking it has to break to the downside but it doesn’t matter what I think. In fact, if that’s what I think it will probably head North!!
KC
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USDCAD, I’ve been thinking that all month, but it can’t go up forever!
I think if you can keep DD under 10% you’re doing alright.
Agreed! That’s why I shorted it.
I think i could have waited until it was a little deeper into resistance/supply
Great post by @Jerome32 something I believe in and should practice what I preach in my head!!
Also…
This is a great little book! (no affilliation and all that crap… 
slight_smile:)
The title is specifically an attention grabber and the author admits as much saying this can’t be done but as a learning tool will be a great use of $500. Better than handing $500 over to “Fred’s Infinity 4X” Where you’ll experience returns like never before!!!
Not for the experienced folks, definitely for beginners. It has the basic stuff we should all embrace. He addresses @Jerome32 's small loss experiment even further and says on a lower time frame don’t wait for a signal instead flip a coin for short/long keeping losses small you’ll still probably make money. The idea is to become ruthless with losses.
This is where somebody will trot out the “death by 1000 cuts” stop loss argument but if the wins come with a giant band-aid and a pint of “O negative”? I am starting to doubt the veracity of this maxim.
I still have a hard time with this, being ruthless with losses and would like to keep my losses smaller. Even seeing better entry points I am still getting in too early. I have heard if you’re in “too early” you’re still wrong!
I’ve been told you need room for your trade to breath… and that works for some folks, we’ve seen examples of it here on the forum. But perhaps I shouldn’t let my losers breathe, Save that extra “oxygen” for the winners.
Mmmm. Something to consider.
Maybe it’s not about making money. Maybe it’s about being rewarded for not losing money!!!
KC
jackpot!!! i guess if u have deep pockets u can buy or sell regardless, cos the market will always push back up or back down to that level eventually, when…no1 knows, but u can t say it went ur way after falling 400 pips or so(just an example). i really don t understand why this aproach with buying when price is going down or viceversa without a real reason. if u guys would be trading VSA, buy after climactic volume etc, u d still have a stop, and yes would make sence, but when there s no signs of that happening…take for example UC, yes it can t go up forever, and still, cos the usd is strong it still makes progress, and whoever tries to sell to early without confirming first that we do have a change in behaviour is just gonna get run over. i was thinking to sell also UC, from a VSA standpoint, i didn t, bt i would ve lost 10 or 20 pips max for beeing wrong. if u wanna go with the trend that would never happen. and since u have small accounts, why not try to learn a good way to get in with the price direction rather then anticipate a reversal, which in a strong trend, could take days, weeks to happens, cos it will go into a range, distribution, etc. i just don t get this idea. but hey… as long as guys are ok with beeing in red mos of the times… who am i to judge.i just don t think this is the right way to grow an account, specially a small 1. again only my opinion.
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It is not just your opinion, it is common sense and self control/discipline, which you possess a great deal of. A lot of traders (such as myself) possess common sense but lack self discipline. This leads to impulse trades which admittedly I am guilty of all too often and am working hard on.
The phrase I used “it can’t go up forever” is a very dangerous one and something I should have never said as it can often lead to false hope.
oh thrust me bud when i say, that beeing impulsive and have 0 patience was me not so long ago. how i managed to deal with that was thro vsa, with a top down aproach still but using 1hr as base and entries on 5 or 15m, and also swing trading but i m risking a bit more by trading less, meaning on a setup hat looks perfect for my trading aproach i could risk up to 5%, but ofc i m only takin the high probabilty trades instead of trading multiple times a day risking less or 1% etc. i managed to do this after beeing humbled by the market time after time, and looking back on my trades, many that i ve lost for trading in the mid of nowhere out of boredome, or not waiting for candles to close etc…oh, let s not forget news trading but with time u get fed up of givin money away that u know u shouldn t have, so u do the stupid things less and less
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Things are moving in the right direction. End of day Friday just under 10% DD, presently just under 5% DD.
Still haven’t completely released to the “Befuddled” Thread of no price action only xlv4 MA signal in conjunction with DiNapoli Stochastics.
If I was doing that by the book, my longs would be shorts and my shorts would have been longs and the DD I experienced would have been bankable pips end of day Friday and more than likely getting in this morning or perhaps waiting for the close of the next 4H candle in a much better position. Mmmm.
While I seem to be doing a much better job at identifying areas of S/D I am still getting in too early.
I didn’t send a scout trade to see how it fairs. Well I did but was impatient or didn’t believe the info he sent back and sent out two other “scouts” in succession. While I will say I’m not trying to catch the turn, subconsciously I’m still trying to catch the turn. Grrr. I have to wait, be more patient.
Perhaps set orders deeper in S/D areas, actual outliers, and look at those zones as a “train station” where price will pass through slowly and once the direction of the train is established then hop on.
KC
u said it, not me
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It would be great if USD/CAD rolled over and fell of a cliff!
Edit:
Tuesday, 2/11/2020 - GBP/USD heading up, USD/CAD heading down, at approx 2% DD.
Maintaining positions… patience…
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