Forum > View Topic
by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
I said this many times and I will say it again !
Heres an example. " weeks ago, cable issued a very clear negative signal when it fell below 1.57 to 1.55. Many had the right idea when they expected further declines. But since they overleveraged their shorts at 1.55, they were burned out/ margined out/ stopped out from the rebound to 1.58 (Feb 17) . As cable resumed selloff to 1.48 these same people felt very empty inside. There were also many who might have shorted at 1.48 only to get margined out at 1.51. So what we have here is sterling pursuing the fundamental and technical path of falling 1000 pips in 14 days and yet many who did expect a falling sterling ended up burning their accounts due to the market's tendency to retrace.
markets dont wait for your highness to make money and will not send you a telegraph message when they start reversing.
if you were able to predict a falling GBP, then that's already great thing. But if you are not very good at predicting these retracements (NOISE), then stick to what you know, and capitalize on it by lowering your margin usage, hence, you capitalize on what you do KNOW and not what you dont know.
Ashraf
I USED TO TRADE ON djia BUT GOT SHORTED SO HAVE TO REPLENISH THE FUNDS
AS FOR CURRENCY PROJECTION IT IS A PROJECT I INTEND TO CARRY WITHIN THIS YEAR
WHAT DO U THINK AND WHY DO U ASK
I KNOW THAT ITS ALWAYS EASIER TO SAY THAN TO TRADE AND TO BE ON THE FRONTLINE; I ALREADY EXPERIENCED THAT.
I have the same problem with my trading. It looks like is a common mistake most beginners (like me) do. There is an interesting blog I'm reading that helped me. If you want to check it, the address is:
http://traderfeed.blogspot.com
Good luck!
Pablo
Now that euro got crushed early NY, woiuldn't be surprised to see it get bid for the remainder of the session
Not yet liquidated, but was close to it. I pumped in more money to increase the account so as not getting liquidated. Thanks for concern. Just 2 days ago I was in big profits and I did not take it and it just reversed badly.
Thanks for letting me know. I do not know what to do to my mindset, I have always burnt myself when I do this, I make money most of the month and then one single day I just get into greed and do this overleveraging to just cash on big, and that is when the trade reverses and takes all my gains and then I have to put in money to save my account. I have seen that my trades have been 95% correct and made money, but the 5% has taken all my losses, because when I lose big, I really lose big.
Also, I have tried closing out earlier and still I have lost, I have tried hedging, still I lost. There is a pattern in for me, it has been repeating for years now. Cant learn, I panic and do mistakes, head is not calm.
good trade
Every week is a learning experience.
said - do you trade?