Trader Talk Thread šŸ’±

Exactly that reason I decided against putting the St Georgeā€™s cross on my number plate, but hub has one. His car is white too (and pretty obnoxious to a lib :joy:), so really stands out.

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I live in a liberal state Maryland where they were celebrating Hillaryā€™s win in the 2016 presidential elections until they saw the final results. :flushed: :sob:

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:grinning:

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Eureka. I was shit at surfing maybe thatā€™s why I am still shit at trading. :rofl:

The only difference for me between the two is I never had a real desire to master surfing !!!

Keep at it Rob. One day the fog will dissipate and you will be able to see it clearly ā€“ and wonder why in the world you didnā€™t see it sooner. Just trade 1000. lots at a dime a pip till ya get it. Good luck, mate! :four_leaf_clover:

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Thanks Jim, I also believe I will finally get it and ā€œkeep itā€ whatever ā€œitā€ is .
I just seem to have lost my way at the minute.

My lot size is way down and as Trader T Payne in Alexā€™s post says I have learned good ā€œrisk managementā€ :+1:

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Actually the London Bullion Market Association, (LBMA), artificially fixes the price of Gold and Silver so you canā€™t trust them either. :grimacing:

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Going to post some stuff that I hope helps. I posted the following (excerpt) at the tomb 2 days after Trump was elected. I stuck with this plan, making a few changes along the way. One doesnā€™t need a ā€œbig accountā€ to get started.

As Iā€™ve stated in the past I picked up a lot from Stu by observing a lot and asking little. I came to understand two things early on. !. One could make a great income by primarily scalping. 2. One had to develop a trading plan that worked for them. I learned the final lesson in a post he made earlier this year. Donā€™t think he will get pissed by my re-posting an excerpt:

Now Iā€™m one of those nerds that will randomly pull a encyclopedia out of the case, randomly open it and start reading. I will sit for long periods of time on the screen porch with Greedy Cat (feral cat I tamed) and just think. Put couple hours of thought on the many aspects of the above quote which became the third and final piece of the puzzle. 3. Only look and trade thatā€™s a relatively sure thing and take every opportunity presented. I quit keeping records and a trading diary. I simply trade when the opportunity presents itself. I am much more relaxed and at ease trading.

Many say trading is gambling. It is not. Everything happens for a reason, even if it moves dramatically from a politician opening his yap. Its very rhythmic. Later today I will post couple charts to show what Iā€™m talking about.

Finally, I think Stu Boy should write a short book, possibly named ā€œCommon sense ideas for profitable FX tradesā€

Thanks for taking the time to post this Jim.
Stu and I have spoken often in the past and he has been a great help in enabling me to see things that I had been looking at but didnā€™t really acknowledge (if that makes sense).

The irony is that I identify many of the levels that Stu will be trading off but as has been stated, 2 traders can be given the same information and yet one will succeed where the other doesnā€™t.

So here I am :face_with_raised_eyebrow:

I am still motivated every day to trade and each day is a new opportunity for me to change my results so while I still have that outlook I will push on.
As for Stuā€™s book, he has certainly already given me more info than I could hope for and I remain eternally grateful . :pray:

Rule 2. One must develop something that works for them. Heres what works for me. When I started, I used moving average crossovers and trend lines and candle pasterns. I have continued to simplify and now use only a 21 period weighted moving average and pay close attention to candles. I keep an eye on many time frames but use a 2 hour, 30 minute and a 5 minute. The EU 2 hour:

Very easy to see where its going up and where its going down. I never trade against this trend. Toward the end its straight lining. I donā€™t attempt to trade when straight lining.

I now trade the AU in addition to the EU as it moves well, has good volume during the London and US open and my broker has by far the most favorable margin requirements on these 2 pairs. The AU chart:

Is she a beauty or what. Remember I never trade against the 2 hour trend. Next I look at the 30 minute to help determine entry points. When in trading mode, looking for a trade, I check the chart every 30 minutes. (both EU and AU)

This chart bobs and weaves but shows me when we heading in the right direction. Finally the 5 minute chart when I am actually entering and in a trade.

Couple of points to new traders or those thinking of giving it a shot. All self ordained experts are just that. Iā€™ve yet to see one that knows squat. The real traders (read profitable) ainā€™t in the horn tootā€™in business. There is no right or wrong. You gotta figure it out for yourself. I trade one way ā€“ Al uses the pitchfork to great advantage and is into the mental aspects big time ā€“ Ex trades and studies stocks long term. IMO best to open a $200. so account with a good broker, use a practice account for a month learning the ins and outs of charting and order types then jump on a live account trading the minimum till you learn to trade. I always used a live account to practice cause the capitalist in me makes me work smarter.

In addition to the above, I watch a lot of Fox Business channel, keep a eye on the FX calendar, know what the DOW and gold are doing. If ya gonna get in it, it takes a commitment ā€“ but man itā€™s sweet once its mastered! And hell, the bottom line is IT ONLY GOES UP AND DOWN. How complicated is that? :joy::rofl::joy:

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" How complicated is that " :slightly_smiling_face:

If I have had a negative trading day I ask a similar question. IT ONLY GOES UP AND DOWN so how could I have screwed up so badly today :rofl:

Your charts always look clean :+1:
Just to clarify Jim I have traded for years dropping out for a few years when I suffered a 15% account loss but then returning and dropping out again to go back into industry 6 years ago.
I restarted trading in earnest full time last year but have stayed just above break even since which is really frustrating

Just reading and posting here knowing that you guys are succeeding is enough to keep me inspired to get back on track. It is only a phase, I will get it back

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This feels like Forex Factory. Iā€™m getting nostalgic. :sweat_smile: Waitā€¦ weā€™re missing a bunch of psychotic characters! :laughing:

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Donā€™t worry, theyā€™re around, they just canā€™t come in. :smiley:

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Iā€™m working on an alternative caption for that pictureā€¦

ā€¦and the price of Gold was doing so well !

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As I was sayingā€¦!! I shorted EG at 0.9285, cashed in half the trade and got the other half running with breakeven. Canā€™t lose. :stuck_out_tongue:

I think GBP is turning now. The drop has already been factored in for no deal and when people see Project Fear was all BS, it will shoot up much more. I am long GBPCAD. CAD is overbought and turning down.

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