oh shit, you got me man, I made a bad entry, I feel so exposed. I guess I am officially outed, you got me good. I don't know how I will ever recover from my humiliation. Hopefully I came up with some kind of plan when I was of sound mind and body which left me instructions in my time of need telling me what to do if I was totally wrong (which as I have stated many times I am 50% of the time.) otherwise, I think I am about 200 pips in the red and still don't have a full load on, but EUR is only just one of my positions. If you really want to make fun of me you should see the situation I am dealing with in AUD. I will anxiously be awaiting your next call. As for me personally, I never make calls, I don't like to feel responsible for anybody that is stupid enough to follow.
When you entered the trade, you needed to have an idea of where to get out should it go against you. A price that tells you that your idea didn't work and you were wrong. You're dead without this, as losing trades are going to happen often, and eventually you'll run into one that doesn't 'eventually' come back before running your account into the ground first. Remember, blowing up doesn't just mean blowing your account.. it's simply losing more than you ever expected to lose and that can be on a single trade if you let it hurt you enough.
Let me clarify.. I'm within $100 or so (maybe a little less) from a margin call. That call would take me roughly back to my original stake 2K. How much more can I lose? However I have much more to gain should the EUR turn south next week. It's a good bet in the position I find myself NOW is to hold see what happen Monday. Cramer once said it's ok to get more aggressive when playing with house money. My original stake is intact it's profit I' risking here. Is anything I'm saying making sense?
How were the tips last night? When I started trading ES after a year I got a job working the night shift at the local C store just to keep it all going. But unlike you, I never had a desire to set the world on fire. All I wanted was to make decent living trading. otherwise, there are many of us that would like a good move down, but I went into this knowing that the general consesus is we would see 130 first and am positioned to survive that move, after that, if it keeps going up then it is the ugly bitter medicine of taking losses.
$220 in tips,,a good Friday night running my @$$ off. Repeat tonight. 1300?? Oh no I hope not! I'm long gone screwed at that price. What's your timeframe? Weekly? Monthly?
I can only dream of reaching that level. One day maybe I have a long way to go. Going to subscribe to your thread and from now on keep my mouth shut there.
I don't have a thread, and 99.99% of what I post on the internet is just bullshit if you are talking about the forex thread, that is just something we started on a Sunday waiting for the week to begin and anybody can post there about anything relating to forex or trading. There is no standard, some post about what they have on or what they think is going to happen, but you can also bitch about commissions or carry or bad fills. Actually, I like your thread better. There aint much love out there and you seem to be able to take the hate pretty well.