What I've learned so far (and continue to learn) before going live

Yeh well. Somebody I think needs to maybe Tweet him and remind him that the world isn’t his very own private reality TV show!!! LOL!!! There’s long term consequences.

It is crazy. He’s trying to navigate a barge through a mooring field as if it’s a speed boat.

The question has to be asked how could someone so unqualified secure the most powerful position in the world? Voters? This is truly a wake up call to the 40 or 50% of the qualified citizens who didn’t vote.

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Sorry. Typed a whole wonderful post but decided against it. This is the kind of thing that people murder each other over during heated debates!!! LOL!!!

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That’s very funny!!! :laughing::laughing: I did notice you were replying for a while!

That’s one of the reasons I stay out of the “lobby” politicos!

BTW, Dale, you’re located in on the big continent? Africa? We were in Spain a while back and went to the “Rock” of Gibraltar, could just make out Morroco on the horizon!

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Yeh. Not sure which is worse. Trump or this lot!!! LOL!!!

All positions looking good. Making progress or “taking a breather” .

I could be way off base but I see good upside. The key ingredient needed right now is patience. For me, patience levels are inversely related to chart time. The more I stare at the candles the quicker I burn through patience.

I’m leaving now! :laughing::laughing::sunglasses:

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Best idea you’ve had all day!!! LOL!!!

All positions trying to chew through supply.

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I see Putin not a happy camper with this neanderthal. Now that’s messin’ with the big time.

I am sure Big Red is regretting his campaign assistance now.

Next song…que “send in the clowns”…

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Taking profit in aud/usd, eur/nzd.

Biggest negatives in the $40 range is gbp/chf, usd/chf. These are showing indications of brief consolidation/turning. If they show a move to the upside I would begin placing limit orders to increase profitability on the way up.

Everything else is manageable. I could close out now at -170 and still have 3x my intial goal. However, I feel as my skills continue to improve and patience must be excercised on the D/W/M charts, I’m sitting tight - well not too tight - fairly relaxed - on all positions, as my strategy is indicating continued profitablility on the horizon.

Doing so will also help give me a better idea of my progress as a trader.

Looking forward to what next week brings!!

KC

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My two cents for what it’s worth. Oanda is good. Spreads are pretty tight. Customer service on the phone is good. Probably the best US forex broker right now. With IG entering the game they will be even keener to please. You can’t go wrong. They have no complaints with the CFTC that I am aware of and that is really rare.

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That’s good to know! Thanks @Bleemus_1! I appreciate your input!

KC

Ouch. Morning surprise …

Big usd/mxn drop. Makes a convincing case for trailing stops and against greed.

Was I trumped? Pumped and Dumped? Doesn’t matter as I am in it for the long haul but is an opportunity to review strategy. I still have a “mental” - can I say that? - hurdle to over come which is the need to squeeze every last pip out of each position. This has led to a number of similar situations like above which brings up the whole “insanity” quote! So I must train my brain not to be insane.

It’s always something!! Funny how such an easy concept can be so difficult to execute.

I did set new limit orders!!

KC

Are you having fun with all of those positions and orders??? LOL!!!

Just thought I’d ask.

What? What’s so funny?!

The good thing the drawdown is well within my parameters far from margin call.

The bad thing is waiting to go back up again.

and yes I am having fun with all those positions and orders! :rofl::laughing::rofl:

KC

Edit… tempted to load up with limit orders at this level. But I want to see it turn 1st.

I’ve made the mistake of doing that before and then it continues to drop and that’s when I got into trouble.

2nd Edit… just a sitting day. Walking away. Most positions burning negative candles.

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are you live or still on demo?

@Diabolo888 ,

Still demo. I have surpassed my initial goal but I want to “test” my chart reading and strategy and see where it takes me. The other day was at -37 drawdown now with the usd/mxn gap down I am at -1700.

This is what I was referring to in my post above re: trailing stops and greed. Have to curb my “need” to squeeze every pip from every position.

Before I go live I have to settle on a broker for US citizens.

Thanks for checking in!

KC

Started reading an ebook suggested by @dpaterso about winning trades. I haven’t found a download link but found it on google books. I will post title in an edit as I can’t remember it right now.

At the begining has a list of trading rules. And it there it was… in B&W, something I have read and been told so many times before and finally it broke through “thick skull”!!

Never let a winner turn into a loser. This is a HUGE issue with me. I have to incorporate this into my system.

the other day I was at -37 on all open trades now… -2000.

Lesson learned… I hope!

KC

Edit: Great article from @Trendswithbenefits How to use Pyramid Trading to Build on Winners

Ouch.

Here: