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I hope you went long this morning if you didn't blow up yesterday. What's your risk:reward ratio? I would have to say that "trading on feel" will leave you crying on the floor in the fetal position. Good luck - We are all waiting to hear the results.
Relentless
Can you help answer these questions from other members on NexusFi?
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So how did your first day go?
Did you blow up your account?
I hope you went long this morning if you didn't blow up yesterday. What's your risk:reward ratio? I would have to say that "trading on feel" will leave you crying on the floor in the fetal position. Good luck - We are all waiting to hear the results.
Relentless
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Not quite yet
I do not have a risk/reward ratio. Whatever I see in the chart that I can "smell' a buy or sell , I go ahead and do it.
I count the bars, look at price movement, look at support/resistance, fabonacci retracement, BB and then jump in.
To be honest, I did not trade on Monday, the broker supposes to validate my xtrader on Monday. Light volume but great potential.
I lost $1600 on the Tuesday partly due to an issue with Xtrader chart slowness.
Call TT and the broker, did some tuning in Win7 and it seems to be ok.
i did some trading tuning and even the upday yesterday, I managed only to lose $100.
I find trading ES in Globex in the early morning can be a big potential around 5:30am when economic reports released
You will see there are some times I do not trade because I "chicken out". I need some more tuning in that too.
The breadth of ES 1-minute bars near the top and bottom sometimes calling for a best buy and sell signals
Today is the typical day of 'gunning the stops' on both sides.
One thing I do not like Xtrader is that afer I log off and log back in, the Position Study is cleared so I do not have a chart with enrtry points to review. I can save the images so I can live with that short-coming.
You are right about the fine tuning - you need to do a lot more of that:
You need some strict rules in place to keep you out of hot water - define your method & execution - what, when, why?
You need to define your risk strategy and capital management - risk:reward, drawdown, stop strategy, ATM, multiple accounts, etc
and a whole lot more...best of luck and keep us informed
Don't blame things for your losses. Do not blame your platform, your broker, your internet, your computer, your wife, your kids, the phone, your mood, etc.
You need to take 100% responsibility for your trades. No one has a gun to your head. If you place a trade, you do it of your own free will.
How much is $1600 out of your account? For example, 1%? 2%? etc.
I'm going to cut through all the crap and and tell you what the rest of the guys are hesiant to say. That is go back to sim and look at the posts by other members and SEE what they are saying. Don't loose your rear because of failed strategys and mental demons. Take a step back and reassess what your doing before you needlessly throw money away.
Nobody here likes to see fellow traders go down in flames.
Regards, Kbit
Wow, this would be funny if this was all a big joke. Sign up on the forum then tell everyone you are going to jump off the ledge and see how many people scream NO DON'T JUMP!
Then there are those few that say, "Go ahead you a-hole, jump! I dare you!!!"
Well, I guess we all want to put on our Superman outfits and fly up there on your ledge with you as you sway your naked self to the rest of the crowd and all your vulnerabilities are exposed.
But, at the end of the day, you are either:
A) Going to make a buttload of money
B) Lose a buttload of money
I think most people with experience in the markets are going to say, I take "B", Final Answer....
You WIN $1M dolla's....
We just want you to be safe, practical and stick around for a longer time. When I first started with Forex, I was wagering 21K and I made 53K within 2 days! No JOKE!
Do you know what happened next...? Drum-roll please. Well, I think we all know what happened next. And then some.