₦airaland Forum

saintfaculty:
Now we have usdjpy where we want it... Lookout for sell price action patterns before selling this asset

CopyJoe:
Finally happening.

Let's see how it will end.

The double bottom has finally been cleared.

Liquidity created by the banks for some days now has been grabbed.

CopyJoe:
I got this move correctly. It retraced back. I didn't close because I wanted more.

Now I am back to that level.

If I had closed the moment I got signs that it will retrace and open a new position,

I would have doubled my profit by now.

The new trade risk would have been out of the profit taken.

Piptocoin:
[color=indigo]Trading experience is talking through you now. I believe in taking what the market gives me and not what I expect it to give me by locking profits early.

The funny thing is that one needs to make at least 11 pips daily to meet the target or 12 pips if you add spread to stand a chance to meet the target of 240 pips at the end of the month. How hard can that be? Well, quite difficult as there are variables that can combat one's target goals. One of them is not taking what the market gives you. 6 pips twice a day in this competition is bae. Offline distraction is another thing. All I can say, Joe, is keep grinding. All the best.

Edit
making 6 pips twice a day or even more is simple if you have an edge but as difficult as having discipline to execute the edge to the letter. That is where impatience makes a simple concept very difficult.[/color]

CopyJoe:
Finally happening.

Let's see how it will end.

The double bottom has finally been cleared.

Liquidity created by the banks for some days now has been grabbed.

VlamesIffect:
My boss in the practical sense it's not as easy as this sounds on paper..this idea is similar to scalping take small small profits and then BOOM big loss......there are some trades that the moment you enter them na loss o...inshort more & more loss.. so it might sound easy or like a fantastic plan but....hmmm anyway try it & give us feedback. ...

CopyJoe:
I understand his points and how it relates to me.

I can't say much about scalping because I don't scalp.

But part of what he said is what I can relate to how GabsonFX trades sometimes.

He takes his profit from the market, steps back, and re-analyze.

It's something I have not found easy.

charly20:
Here's one truth boss, there are different techniques for different personalities in the market. Myself I'm more of a "low-budget" position trader. I'm ok holding for weeks on a position but there are others who can only hold for few minutes and others for a day (this is basically something we all know).

There is a downside to every technique and whichever one we choose, we should accept the downsides too. Taking what the market gives you, Is that out of fear of loss or because the trend has changed?

That is the question that needs to be answered.

CopyJoe:
Entry is as important as Exit.

Every step is a learning process.

We learn as we move up the ladder.

I have always learned from the bosses and it has helped.

That's what works for me.

It's personal.

You may not understand.

charly20:
Here's one truth boss, there are different techniques for different personalities in the market. Myself I'm more of a "low-budget" position trader. I'm ok holding for weeks on a position but there are others who can only hold for few minutes and others for a day (this is basically something we all know).

There is a downside to every technique and whichever one we choose, we should accept the downsides too. Taking what the market gives you, Is that out of fear of loss or because the trend has changed?

That is the question that needs to be answered.

saintfaculty:
usdjpy sofar... profit locked... let the trade run

VlamesIffect:
My boss in the practical sense it's not as easy as this sounds on paper..this idea is similar to scalping take small small profits and then BOOM big loss......there are some trades that the moment you enter them na loss o...inshort more & more loss.. so it might sound easy or like a fantastic plan but....hmmm anyway try it & give us feedback. ...

KingPipmarshall:
Copyjoe, I think you should be shorting EU. Check and share your analysis

charly20:
Here's one truth boss, there are different techniques for different personalities in the market. Myself I'm more of a "low-budget" position trader. I'm ok holding for weeks on a position but there are others who can only hold for few minutes and others for a day (this is basically something we all know).

There is a downside to every technique and whichever one we choose, we should accept the downsides too. Taking what the market gives you, Is that out of fear of loss or because the trend has changed?

That is the question that needs to be answered.

Piptocoin:
[color=indigo]True. It is like scalping...but I am not talking about scalping. Scalpers make a little and close the trade but we lock in profit when it has met our target and allow the trade to run. You can sit satisfied that your target has been met and hopefully the trade running will bring more profits for tomorrow's target. Here, the advantage is that when you are unable to trade the next day for personal reasons, you are good because you have met the target for another day if the running trade netted more pips. This is where the strategy differs from scalping. You are right in that it may not be as easy as it looks on paper but it helps to keep one's focus on the goal.[/color]

KingPipmarshall:
This party has ended. Proper time to take profits... EU shorts (a pibbar in direction of the trend was my signal).

Piptocoin:
[color=indigo]How many times have you profited only for price to return and strike your stoploss like snake? You do not secure profits only out of fear or because the trend has changed or that your strategy is not solid....nothing like solid strategy when a dynamic complexity like the market is involved. If you were trading a prop firm's account, waiting for the market to give you an assumed amount of pips without locking in the one already given is a recipe for disatster.[/color]

Piptocoin:
[color=indigo]How many times have you profited only for price to return and strike your stoploss like snake? You do not secure profits only out of fear or because the trend has changed or that your strategy is not solid....nothing like solid strategy when a dynamic complexity like the market is involved. If you were trading a prop firm's account, waiting for the market to give you an assumed amount of pips without locking in the one already given is a recipe for disatster.[/color]

Forexislife:
Talk Don pass alert for thread.

Piptocoin:
[color=indigo]Trading experience is talking through you now. I believe in taking what the market gives me and not what I expect it to give me by locking profits early.

The funny thing is that one needs to make at least 11 pips daily to meet the target or 12 pips if you add spread to stand a chance to meet the target of 240 pips at the end of the month. How hard can that be? Well, quite difficult as there are variables that can combat one's target goals. One of them is not taking what the market gives you. 6 pips twice a day in this competition is bae. Offline distraction is another thing. All I can say, Joe, is keep grinding. All the best.

Edit
making 6 pips twice a day or even more is simple if you have an edge but as difficult as having discipline to execute the edge to the letter. That is where impatience makes a simple concept very difficult.[/color]

samfelly:
Impatience Makes a Simple Concept very Difficult - #WORDS