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#Post#: 192--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 12, 2017, 6:54 pm
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Yep always a good idea Kermit. Fridays have a bad tendency to
erase a week's gains. I stick to primarily longer term stuff so
I'm willing to let it ride for a while.
Sent from my LGL62VL using Tapatalk
#Post#: 193--------------------------------------------------
Re: TA Forex Trading
DIR By: Heavyweight
Date: January 13, 2017, 7:53 am
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Morning Pennies. Looks like NU eventually make to the 71 target
which is about 88 pips above the cup and handle rim. Good call
on it. The pattern played out finally but took it a while to get
there.
#Post#: 194--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 13, 2017, 8:05 am
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Yep Heavy, its banging that bottom trendline now that it broke
below on the weekly line chart. I'm short and holding for a .65
target later on.
Sent from my LGL62VL using Tapatalk
#Post#: 195--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 13, 2017, 11:40 am
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Yall will appreciate this-the last two days i come on here and
yall talking about Pennies chart well i couldn't see it went
hunting backward post for it was going to ask where it was-at
first when i read Pennies post i thought he had forgot to post
the chart--well finally realized i wasn't logged in-did you know
if you're not logged in -no charts appear lol
#Post#: 196--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 13, 2017, 11:48 am
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Yep thats right Jav. I had someone else that ran into the same
issue. Wasnt logged in and couldnt see the charts
Sent from my LGL62VL using Tapatalk
#Post#: 197--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 13, 2017, 4:08 pm
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Weekly Wrap Up:
I played only GU short and did quite well. I almost blew it on
Trump's Wednesday presser by doing exactly what I should not
have--I was already up almost 20% on the week and started the
press conference all cash and intending to stay that way. But
then I saw GU jump 100 pips for what I considered no good reason
so I took a short position figuring on easy money on the
correction--always a mistake. It kept going another 150 pips. I
got lucky, though, as it came back down and I eased out with a
small gain.
Here are my numbers for the week:
Start: $60.30
Goal: $63.32 = 5%
Attained: $74.94 = 24%
This is a long-term plan to make consistent gains of 5% a week.
Using the power of compounding, one could take $60 to 1.25
million in 4 years at 5% a week.
Each week I am comparing my actual performance against this
ideal. It was inevitable that my real total would diverge from
the ideal and it was my intent, if I fell more than 10% short of
the goal, to stop comparing my performance against the 5% plan
because otherwise I would try to make up lost ground and destroy
my account through recklessness.
Now I'm in a position where I am almost 15% ahead (the ideal has
me at $66.15). I think for now I will carry on with the 5% goal,
but if I get 20% ahead, then I will get more conservative,
cutting back to a 4% weekly goal (which would be 5% of the
ideal).
We'll see what next week brings. I will post my next focus on
Sunday.
#Post#: 198--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 13, 2017, 4:19 pm
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Outstanding Kermit! Those are massive gains for a single
week...very well played. 😀
Sent from my LGL62VL using Tapatalk
#Post#: 199--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 13, 2017, 5:37 pm
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--- Quote from: Pennies2007 link ---
>
> Outstanding Kermit! Those are massive gains for a single
week...very well played. [emoji3]
>
> Sent from my LGL62VL using Tapatalk
>
--- End Quote ---
Thanks, Pennies. But as you know, the key here is consistency.
Can I follow up my green week with another green week?
There are a lot of emotional pitfalls, and one that has killed
me more times than any other is Master of the Universe
syndrome--when you have a few big successes and start thinking
you can do no wrong. I've wiped out the account more than once
by going in too big because I thought I couldn't lose.
This week will be key--keeping my bets small and well planned,
being happy with normal gains and not trying to get another big
week. From a strict discipline standpoint, I should probably
take a few days or a week off.
But I won't.
Sent from my iPad using Tapatalk
#Post#: 200--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 13, 2017, 5:46 pm
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I know exactly what you mean...been there, done that, and have
the t-shirt to prove it...lol! Feeling bullet proof is a huge
problem in trading. Its just as bad as revenge trading when you
take losses. I actually dont even set goals anymore so I have
effectively released the pressure valve I placed upon myself. I
just take what the market gives me. I dont strive anymore for
daily pip targets or weekly gain goals. Its actually one of the
single best decisions I ever made because it freed me up to
trade the long term charts without having to worry about news
releases or weird movements that appear out of nowhere. Now
trading is just a boring, systematic method where I simply
follow a set of rules with no variation, win, lose or draw. Took
me a long time and a lot of losses to reach that point though.
Sent from my LGL62VL using Tapatalk
#Post#: 201--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 14, 2017, 1:59 pm
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I’ve been playing GU pretty consistently for the past
month or so. I think the longer term trend is going to continue
down, but in the shorter term, it’s less clear and Pennies
may well be right to go long to 1.24, which would bring it back
to the top of the channel, as you can see on the daily. EU also
suggests some near term dollar weakness.
NU bucks the trend and suggests a short. The last two candles on
the daily show a lower high with the candle butting up against
the bottom of the channel.
Since I like pound weakness and the charts are suggesting dollar
weakness, I may switch pairs and go long EUR:GBP. I don’t
know that I’ve ever traded that one before, so I may
change my mind. But right now, I think that’s the way
I’m going.
Start: $74.94
Goal: $78.69
(Under ideal scenario: account $66.15, Goal $69.46)
Charts attached: NU, EU, GU, EG dailies
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