When to walk away...
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Thread: When to walk away...

  1. #1
    No, not from Forex.. .but, from certain markets.

    Example.

    This last week.

    On Monday, all the indiors I use showed that this could be a challenging week with my methods. I could not get a definite direction for matters, and everything looked like it was going to be down and up.

    So I wrote to myself. . .DON'T TRADE THIS WEEK!

    I place it onto a sticky, stuck it on my own computer. . .and just sat back. Proud of myself while I watched friends pull out their hair on intraday trading.

    Monday came, and I watched the markets. Tuesday came and I watched the markets. Wednesday came and I watched the markets. Damn, I thought...I'm psychic. No way I shoulda been in there. . .and I was not.

    Then came Thurdsay.

    I made 12 intraday transactions on Thursday. To get a grand total of a -39 pips. The end of the day I'm thinking. . .what the hell are you thinking, your damn lucky that's all you lost.

    Then came Friday.

    I made 3 transactions. . .total -19 pips. Lucky again.

    So today I'm walking around in a confused daze. I told myself not to trade this week...I wrote it down. I bragged to people this week was gonna suck and keep the hell out. In each of my daily reports (I write my analysis every day before I start anything) it says. . .DON'T TRADE TODAY! It says , bolded and underlined, every day!

    That I have a problem.

    My issue is...I cannot NOT see the markets. When I know I'm not gonna commerce, I will still see them. And something pops up, and I'm in. I'm really proud of myself for watching the markets for 10 hours Mon-Wed rather than pulling the trigger. But, I think 3 days is my limitation

    Which brings me to another question.

    That I know how to follow a trend. Pips can be made by me in a market that is trending. I think most people can. It's those damn consolidating up down markets I always lose at (u think I'm unique here?) And being a dealer. . .it's like impossible to steer clear of your job for days, or months at a time while the markets go through this faze.

    So I'm gonna ask. . .has anybody developed any kind of system that gets them pips consistenty at a sideways, consolidating, or up and down economy?

    Cuz the only way I have learned how to trade it. . .is NOT to trade it.

    And seemingly, that ain't workin'.


    SF

  2. #2
    If you can not help yourself from watching the marketplace take the week off and don't be infront of your PC.

    Should you understand your limit is merely 3 times, watch the markets for two days only, then go spend the rest 3 days of those weeks elsewhere, it will feel better.

    Thanks,

    Nader

  3. #3
    SF,

    Trust your instincts! Seems like you've got a good plan, if its telling you not to exchange, DON'T TRADE, and don't feel bad about it either, easy to say right?

    Sam

  4. #4
    Hi,
    Quote Originally Posted by ;
    And a sudden, something just pops up, and I am in.
    Would you care to expand on this?

    Best regards
    Alan

  5. #5
    Well, I have a cool option for you... Because you can not stop watching the market ( just like me), and you also can not resist the impulse of a trade inviting you in, although your system yells at you to stay far...
    So, why not change your system? I suggest designing an alternate system... While your system can not work its way via a particular market phase, shift to plan B or to your second system...
    by way of instance, if your system uses MAs to identify trends and follow them, however the market is trendless right now, you can now change to the second system that's based on any type of rapid oscillator, ching rather small reverses down and up...

    I think it's helpful to start designing a new system from scratch not making a newer version of your older one...

  6. #6
    Meedo.. .exactly what I was thinking.

    Thing is, I have never been successful trading a ranging market. However, since I have found a weakness in myself...I guess I had better work on this. Response indiors might help here. Or, at the least. . .limit the harm. Have to work on this.

    Firehorse. No, I don't need to enlarge on that. . .that's my difficulty in the first loion.

    SF

  7. #7
    Quote Originally Posted by ;
    No, not out of Forex.. .but, from niches.

    So I'm gonna ask. . .has anyone developed any kind of system that gets them pips in a consolidating, or up and down economy?

    Cuz the only way I've learned how to exchange it. . .is NOT to exchange it.

    And seemingly, that ain't workin'.


    SF
    Yes I have. The day trading sample approach I published in the fiji reports section is the best I've seen in a sideways market. The highs and lows seem to be accurate in action. In a trending market the day trading platform for VP works fairly good but with this system you will miss the strong trending occasions because (in a very long market such as) that the industry frequently does not reach the predicted low of the day however occasionally begins right in the center of that range and heads for the skies breaking through the predicted large by up to 70 pips. That was one of the reasons that the system had low drawdowns is that trending is not so prevalent in the markets. Even daily tendencies will consolidate with just two or three fashion days followed by sideways days afterward stronger trending again throughout the week.

    Anyhow that is the best sideways system I've seen.

    FT

  8. #8
    Ya Fiji...I've looked at a few times. It seems that VP would fit the bill for this type of situation.

    VP should get rid of their poor earnings egy, and just post your analysis on their website. Their earnings would triple instantly.

    I expect they are listening...

    SF

  9. #9
    Quote Originally Posted by ;
    Ya Fiji...I've looked at that a couple of occasions. It seems that VP would fit the bill for this type of situation.

    VP needs to eliminate their lame sales approach, and just post your investigation on their site. Their sales would triple.

    I hope they are listening...

    SF
    so far as I know they are listening. I sent the link to the comments and he said he'd forward it. I hope it does some good. Customers don't give opinions to trash a business but to alter a firm and are really worth listening to. It is hard to get a company to hear since it comes around like bashing but I believe in many cases people are working to help.

    Interesting you should mention that. I looked at their web site and noticed that the main article was printed by them on their web website. They didn't offer the link tonigeriaforextradingor to the sample method. What is sort of interesting relating to this system is that it was simply designed by me and traded it instantly -- let the chips fall where they may. I was quite amazed that it did considering that throughout the sample interval I exchanged a great deal of traders did poorly in the markets since they were choppy and difficult to deal with.

    FT

  10. #10
    I have a solution!!!! ...

    I occasionally fall to the telephone of the marketplace - Particularly when those candles begin doing a flirty e!! ...

    Open up a demo account with the same amount you've got on your live account transaction from there.

    Additionally, do a research or backtest on Bollingers your favorite oscillator crossovers for sideways market trading

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