Whew...thank goodness I'm in demo mode

we shall see…

I took a short at 1.3775 last night, TP this morning at 1.3740 then I took a long at 1.3750 I got a TP set at 1.3770 but I might close it out in a minute at around 1.3760 and take another short

Yep, I learned a great lesson with this trade as well. Stochastics were in over bought conditions on the 30m, 1H and 4H TFs, and just about heading to it in on the Daily TF. I Shorted it, it hovered around the psychological 1.3700, and then inevitably spiked up.

Lesson learned: indicators don’t confirm future movement, they only suggest it.

I’m slowly losing my faith indicators. I think I’m becoming more of an S&R trade, as well as trading breakouts.

Do you think the market cares about what you expect?

The market couldn’t care less about your expectations.
Your projections onto the market have no influence on how price behaves.

All this chatter & babble about what a pair could do & could not do is a waste of time.

The market does what it does. Period.

Your job as a trader is to deploy a trading model you are comfortable with operating that allows you to pull large chunks of profit in form of cash out of the market.

Predictions aren’t part of a profitable trading model!

All traders expect something OR nothing to happen, everybody expects something.

The trader projections have influence only in the trader.

The market does what it does. Period.

Everybody cares about what it did, what it does and what it will do.

Have you ever placed a trade in your life?
Because if you have then you must have expected the market to move in your favour.

I get the feeling that forex is all about hitching a in the right direction with the bigs guys of forex (i.e. the banks). Your desired direction is obviously forward (i.e. profits). You hitch a ride based on where you think the price is going, by putting in a position. If it goes the right way, you’ve moved a little closer in the right direction. Otherwise, you’ve moved back and now you have to catch up.

whatever you say.

But that aint the point.

The thing is a lot of people load up their brains with things they can’t control instead on focusing on the things they can control.

[B]A position placed is a loser until [U]proven otherwise by the market[/U].[/B]

Think about that one for a minute.

That’s a shift in thinking away from the things I can’t control to the things I have [B]full[/B] control over.

Why would you want to go & potentially compromise or complicate things with this thing called “expectation”?

I can hear them: "Oh, but that’s gambling & entries are random."
No, the focus is on the few things I’m able to control according to my Trade Management Plan, the rest is down to the ebb & flow of the market.