Tell me why my trades are bad or good...?

Discussion in 'Forex' started by phenforum, Sep 29, 2005.

  1. Hey everyone,

    I'm going to post a few of my trades here
    in this thread, starting tomorrow. I'm not
    too advanced, and I don't try to scalp,
    so I won't be updating more than once
    every day.

    Short USDCHF @ 1.2928 @ 3pm Sept. 28

    -signaled by 5/13 moving average crossover on hourly chart,
    which is the only indicator I use... (bad?)

    I've had to stay out of many trade signals
    because of choppiness, and sure enough
    I would have been whipsawed most of the
    time, but sometimes I miss good trades.

    I feel that my trading system is inefficient,
    and that I need a way to better target
    my entry and exit points.
  2. I was once chatting with a girl trader who happened to be taking a very popular, well-known course on trading moving averages.

    USD/JPY popped up in the talk.

    Over the last 24-hours we had both tried to trade the pair it turns out.

    She wasn't able to find an entry to open a trade, she told me.

    I, on the other hand, who doesn't trade MAs, successfully opened and closed more than 5 trades on the pair.

    Main prob I had with MAs is that, say you get a signal to enter. Do you then wait until you get a signal to exit?

    And if you just wait, what happens if you are getting creamed in the mean time?

    And if you diverge away from your MAs after you enter, are you not entering more dangerous territory?

    Just a thought.

    You know, trading is Hell. It is like a street fight where anything goes. The one who wins is the "winner." By whatever means causes that to happen.

    Sometimes you just got to be one mean, dirty sonavabitch and slug it out.

    You might win, you might lose, you might break even, but don't forget: You're the one who engaged your opponent(s) in the fight willingly.

    So, I don't think there really are "good" trades OR "bad" trades because who knows what will happen after you enter a trade?

    You just got to deal with it.

    I'd say, the last 100 trades I've made, sure I did the best analysis I could beforehand but ultimately I just pulled the trigger because I love being in the market.

    I could win. I could die. But at least I am trying to trade my plan that is to advance my life financially by taking on dynamic, real time risk, that is better, I think, than taking no risks.

    Sure enough, the trading environment instantly changed after I entered the market.

    The ones I closed winners I did so by dealing with the circumstances after the fact.

  3. Thanks for your post, Skalpz. However, it's irrelevant
    to me that I'm apparently in a fight with other traders.

    That doesn't matter to me because I'm basically
    passive in the market, no matter what I buy or sell.

    When you mention getting creamed before an exit point
    do you mean that most of my profits get taken, or even
    all of them?

    If so, then you're right, as that has happened to me
    when I force myself to be disciplined and exit only
    upon the signal of the MA.

    I'm inclined to ask if you can give me any advice
    on how you're apparently so much better than most,
    but I'm worried you'll just tell me it's because you're
    mean, and you beat everyone in the fight. lol..
    You make it sound like you just guess.

    BTW How old are you? I'm 19 and this is my full-time
    job aside from a commission here or there on an affiliate
    sales website that I run. I've got to take every chance
    I have to learn more, so sorry if I'm annoying you
    with questions...

    Also, how early would you have been able to enter
    that trade compared to me? I wish I could have gotten
    in at the peak around 1.2990, but the 5/13 MA crossover
    on the hourly charts doesn't let me.
  4. oh oh ... dude ... your a newbie and trying to make a living trading from FX ?

    have you ever traded other stuff before?

    I hate to say this but the odds are against you
    have you ever considered applying to work with other traders either as a trader or as part of their support team ?

    - How old are you? I'm 19 and this is my full-time
    job aside from a commission here or there on an affiliate sales website that I run. -
  5. Using MA for entry signal on FXmarket is not a good idea, I think. Looks like too vague and no planned reason to have position there.

    There are many price levels or ranges traders watch, so I recommend you to concern that than mere MA crossover.

  6. Z scalp...wo
    Holywood should do a film about you....

    Z scalp in the western haunting for the bad guys:D

    no really you ve said it thing to do to learn fx in my opinion....

    3 steps

    step 1 open a demo 50k trading account...and trade so intensivly to kill the account the same day...(yes i said well see trade as the objectif is to loose all the money....)

    step 2 open another 50k demo with another borker(by the way good to try different brokers) and now the obj is to try to trade intensively with obj to WIN and make profits....

    step 3 once you ve killed your 20d to open a 3rd demo 50k with this time an objectif NOT TO LOSE MONEY but still intensive trading...

    well after those demo accounts YOU start thinking about your strategies.....but during this test period forget about what others told you and have fun goin into the thing....because it will be the only thing that will teach you what books will never....

    Parole d'un trader averti
    Vive la France
    For Napoleon

    Z C
  7. After that, open a real money account and proceed to throw out what you learned on demo. :)
  8. Have you backtested it ?
  9. went to your blog...quiet depressive ILL....let me mentor you for one week with obj 20%profit...i ll put you on track of the great world traders....stop doin anything ur goin down:(
  10. No worries, I'm too lazy to finish the second part right now. It's all good :)
    #10     Sep 29, 2005