"AUSSI" my thread and anything I want to put here | Page 754 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Why Are We Here? If you are really here for profits, please read! 145 replies

I want a losing system 138 replies

The till Aussi is back thread 377 replies

Bearish Gold thread / Bubble implode thread 40 replies

Goldline "Scandal" 33 replies

Attachments: "AUSSI" my thread and anything I want to put here
Exit Attachments

"AUSSI" my thread and anything I want to put here

  • #15,061
  • Dec 11, 2020 4:53am Dec 11, 2020 4:53am
Quoting ShaneAUS
{quote} Very nice. I would suggest you need to protect that position though. You're around 30 pips up at the moment? That's plenty of room if you moved your stop loss to BE at least. You don't want that to turn your (currently profitable) position into a losing one. Only my opinion though. Cheers O
btw i hate patterns,s\r they give us lot of points but only one of them is accurate so i avoid them i am thinking to work on them also
  • #15,062
  • Dec 11, 2020 4:54am Dec 11, 2020 4:54am
Quoting rayoub
{quote} thanks lem. really appreciate it. diggz made me understand what demo really is for lol, to fire off the shots you woulda coulda shoulda but never do cuz your too busy 2nd guessing yourself or waiting for something else etc. but gonna just keep practicing till i can see this daily then ill shift to the real lol. Thanks again for your support, youve been there since my first post in this thread. thanks sir. {image}
Glad to have been of some kind of help - sometimes you just recognise a kindred spirit and need to reach out. Honestly, we have all been there, in some form or another. For me too, it was the transition to live dollar cash money that was most difficult.

I began in the testing and evaluation field. So I was never near clients' or firm's real money. It was most critical that I could evaluate methods and strategies without the distraction of losing real cash. I still had all the restrictions in place, I couldn't simply let things run etc as most do on retail demo, so giving a false impression. I had to actuate completely and 100% as if I were in a live environment but fully concentrate on the technique, not the cash.

Because of this, I had to rewire my brain when I came to being given the chance to move sideways into live trading. No one was more surprised than me to find that I initially found it difficult.

Then, in the end, it took an old colleague, a sports psychologist of all things, to unlock it. I wasn't actually afraid of losing money, clients', firm's or private, instead I was too much of a perfectionist - I didn't want to break a perfect streak of winning trades, so every trade was simply ratcheting up the pressure not to have a loser.

Once I realised that, I used the same techniques I used as a placekicker, to mentally prepare to miss and how to block that out foe the next one. How to simply flush it and move on like nothing had happened.

The mind - as I have said before - leads and the body follows. In all aspects of life.

Have a good one and equally, enjoy the feeling for now, then flush it and get ready for the next one, just like nothing happened.
  • #15,063
  • Dec 11, 2020 4:56am Dec 11, 2020 4:56am
Quoting OwaisJam
{quote} yes well said i have made my system after 3 years and in last 3 months i knew how to enter correctly but at this moment i need to learn more about this situation how to not get in losing position but still i think it will touch 1838 thats why i am not out lets see what happens.
It bounced down from ytd open and weekly open. Tough level to deal with. Maybe more down to come. My next level here (without pivots) is 1830.5 then ytd low next. Take care
  • #15,064
  • Dec 11, 2020 4:59am Dec 11, 2020 4:59am
Quoting lemercenaire
{quote} I didn't want to break a perfect streak of winning trades, so every trade was simply ratcheting up the pressure not to have a loser.
I can totally relate to that. That's one of the reasons I've blown acc in the past. That and trying to get back all my losses right after getting a big hit, which ends up losing even more usually.
  • #15,065
  • Dec 11, 2020 5:02am Dec 11, 2020 5:02am
Quoting hocius
{quote} It bounced down from ytd open and weekly open. Tough level to deal with. Maybe more down to come. My next level here (without pivots) is 1830.5 then ytd low next. Take care
The only reason for failure in this trade i see is m15 chart but m5 didnt give any signal let me check what actually happened its good to lose in this kind of position coz its demo
  • #15,066
  • Dec 11, 2020 5:04am Dec 11, 2020 5:04am
Damn missed that spike to ytd low, too fast
  • #15,067
  • Dec 11, 2020 5:07am Dec 11, 2020 5:07am
Quoting hocius
{quote} I can totally relate to that. That's one of the reasons I've blown acc in the past. That and trying to get back all my losses right after getting a big hit, which ends up losing even more usually.
I have had a friend tell me recently that the sheer relief and feeling of freedom it has given him to finally listen and realise that taking lots of small, controlled losses and scratch-trades instead of the gnarly "let it run, let it breathe a bit, it'll come back" bs and staying disciplined on your entries, is the way to go.

All you need is one good-'un and you're green - and it ALWAYS makes more than letting one single trade run and break bad.

In effect, this is how an AI works, albeit they are working at the speed of light compared to our glacial human reaction times. The principles are the same.
  • #15,068
  • Dec 11, 2020 5:16am Dec 11, 2020 5:16am
Quoting lemercenaire
{quote} I have had a friend tell me recently that the sheer relief and feeling of freedom it has given him to finally listen and realise that taking lots of small, controlled losses and scratch-trades instead of the gnarly "let it run, let it breathe a bit, it'll come back" bs and staying disciplined on your entries, is the way to go. All you need is one good-'un and you're green - and it ALWAYS makes more than letting one single trade run and break bad. In effect, this is how an AI works, albeit they are working at the speed of light compared to...
Yes I'm trying to change that, its hard to do because its totally different on what I'm used. But I'm trying hard. My biggest problem is that I still have to use wide stops for gold, usually 50-60 pips. So even if I get some bangers here and there and maybe a couple runners, just a SL hit can hurt a lot.
  • #15,069
  • Dec 11, 2020 5:16am Dec 11, 2020 5:16am
Quoting hocius
Damn missed that spike to ytd low, too fast
While I was on a conference call I missed that sell entry as well.
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-12-11_4_5M___FF.png Size: 35 KB
  • #15,070
  • Dec 11, 2020 5:21am Dec 11, 2020 5:21am
Its Friday, so wear your helmet boys. I'm looking for shorts for now. Usa might show up soon.
  • #15,071
  • Dec 11, 2020 5:23am Dec 11, 2020 5:23am
Quoting hocius
{quote} Yes I'm trying to change that, its hard to do because its totally different on what I'm used. But I'm trying hard. My biggest problem is that I still have to use wide stops for gold, usually 50-60 pips. So even if I get some bangers here and there and maybe a couple runners, just a SL hit can hurt a lot.
Would you not consider counter trading those turns, or are the spreads too big to make it feasible? Sorry it's been a while since I traded the shiny stuff seriously and not sure how that is standing just now. I also know it isn't really an option on something like ButtCoin.
  • #15,072
  • Dec 11, 2020 5:24am Dec 11, 2020 5:24am
Just up for a moment will read and post in a bit but definitely what we anticipated from hw is what happened. All spikes up were to sell.. based on 1hr finally breaking that sma as well I dont think they are done selling yet. Just what I think, weekly pivot is awfully close. And 50ema and 200 ema bout to cross as well as all the other good stuff mentioned last night.
  • #15,073
  • Dec 11, 2020 5:25am Dec 11, 2020 5:25am
Quoting lemercenaire
{quote} Would you not consider counter trading those turns, or are the spreads too big to make it feasible? Sorry it's been a while since I traded the shiny stuff seriously and not sure how that is standing just now. I also know it isn't really an option on something like ButtCoin.
What do you mean exactly?
  • #15,074
  • Dec 11, 2020 5:26am Dec 11, 2020 5:26am
Quoting OwaisJam
{quote} The only reason for failure in this trade i see is m15 chart but m5 didnt give any signal let me check what actually happened its good to lose in this kind of position coz its demo
You didn't need to lose it though owais. What happend was daily pivot never held not once. Got whacked a bunch from the bottom and dropped. As well as all those flags and hns pics we all drew
  • #15,075
  • Dec 11, 2020 5:32am Dec 11, 2020 5:32am
Quoting hocius
{quote} Yes I'm trying to change that, its hard to do because its totally different on what I'm used. But I'm trying hard. My biggest problem is that I still have to use wide stops for gold, usually 50-60 pips. So even if I get some bangers here and there and maybe a couple runners, just a SL hit can hurt a lot.
That's why we try to get in with a small drawdown. Try 25-35 pip SL.
  • #15,076
  • Dec 11, 2020 5:36am Dec 11, 2020 5:36am
Quoting bigijs
{quote} That's why we try to get in with a small drawdown. Try 25-35 pip SL.
Yes, but I find hard to get in at the right spot with gold. Usually levels are used but breaken with 20-50pips. Like ytd, if you shorted m30 200, it broke 45pips up before retracing.
  • #15,077
  • Dec 11, 2020 5:36am Dec 11, 2020 5:36am
Quoting hocius
{quote} What do you mean exactly?
Basically when you have a trade turn against you, you enter a counter trade in the direction against your original - it's a form of hedging, nedging, some have called it.

A bit more difficult due to the new margin regs for many retail traders and can be a difficult concept for some to get their head around.

In effect, it means you are never out of the market.

You never let that second trade go red, bagging and stacking as it allows and then when/if it turns back in your original direction, you take what the market has given you.

Should you then get a strong signal that the market has gone back in your original direction, you can then obviously have the option of opening another secondary trade, this time in your original direction and at a probable better price.

Just a thought. Most certainly not for those with lack of confidence in their base technique and even for experienced traders, not all can make it work. However very, very effective for those who take to it.

Most definitely one to be worked on via many demo hours first though! You'll soon know if it's for you.
  • #15,078
  • Dec 11, 2020 5:39am Dec 11, 2020 5:39am
Quoting lemercenaire
{quote} Basically when you have a trade turn against you, you enter a counter trade in the direction against your original - it's a form of hedging, nedging, some have called it. A bit more difficult due to the new margin regs for many retail traders and can be a difficult concept for some to get their head around. In effect, it means you are never out of the market. You never let that second trade go red, bagging and stacking as it allows and then when/if it turns back in your original direction, you take what the market has given you. Should you...
Oh you mean hedging? I've never tried to be honest. But right now, as you said my margin is too low for that.
  • #15,079
  • Dec 11, 2020 5:44am Dec 11, 2020 5:44am
Quoting hocius
{quote} Yes, but I find hard to get in at the right spot with gold. Usually levels are used but breaken with 20-50pips. Like ytd, if you shorted m30 200, it broke 45pips up before retracing.
That's where stochastics come in. It helps dramatically. In those days when up and down cycle is around 200 pips like it was yesterday, the stochastic patterns allow you to enter market with a small drawdown. Basically, stochastics indicates that you should enter market after the peak was made. On a little retrace.
  • #15,080
  • Dec 11, 2020 6:03am Dec 11, 2020 6:03am
Quoting hocius
{quote} Oh you mean hedging? I've never tried to be honest. But right now, as you said my margin is too low for that.
You can run two mirror accounts. One long, one short.
141 traders viewing now, 1 is registered: