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On the evidence of the charts you have posted recently it looks like you have become a news trader as opposed to taking the classic aims trades.
This is not a criticism just a mere observation. Pips are pips so well done.
Richard
Thanks Richard, Well I use AIMS Level to gauge my Entry and I use news as Timing, not every time but news trading gives you a lazy pips fast, thats why i do take advantage of that a lot but with experience, had 5 years of trading experience now, So i sure know what am doing.
Immy were are u :-c let me know if am not violating forum rules, no disrespect, check if my trade met standard or let me Know if there is any adjustment. :y
Richard is merely pointing to the fact that you took some news trades. News trades involve more than usual risk and you need to know what you're doing. As you said, you've been in there long enough you accept the responsibility of taking the trade and if it went against you in the shape of a big spike or price jumping your stop loss etc, you take all those risk into account and accept it and you take the risk. We won't recommend that to other traders who have just started out or are yet to see consistent success, because if something like a 50 pips spike that jumps stop loss and close you out for more than you were ready to take, then your already fragile state of mind is going to melt. Moreover, for a new trader they won't know which news to trade and which not to trade etc. I LOVE trading news .But my strategy dictates that if you're already in good profit before news you can take the risk and let it run and may go in your favour like it did today on EU. Our trade the setup a little after the news spike occurs. simple! NEWS BRINGS IN BIG MONEY and big money moves the market!
Edit: Grant and I call Open Levels and News Times as Chaos Influx Points
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
[quote="immy"]Richard is merely pointing to the fact that you took some news trades. News trades involve more than usual risk and you need to know what you're doing. As you said, you've been in there long enough you accept the responsibility of taking the trade and if it went against you in the shape of a big spike or price jumping your stop loss etc, you take all those risk into account and accept it and you take the risk. We won't recommend that to other traders who have just started out or are yet to see consistent success, because if something like a 50 pips spike that jumps stop loss and close you out for more than you were ready to take, then your already fragile state of mind is going to melt. Moreover, for a new trader they won't know which news to trade and which not to trade etc. I LOVE trading news .But my strategy dictates that if you're already in good profit before news you can take the risk and let it run and may go in your favour like it did today on EU. Our trade the setup a little after the news spike occurs. simple! NEWS BRINGS IN BIG MONEY and big money moves the market!
Edit: Grant and I call Open Levels and News Times as Chaos Influx Points
Thanks for the input, We all got our comfort zone......
Market test my Discipline today, overall come out with a winner..... The chat room as been a useful environment for traders, if you have not been using it please do, lots of helping hand from members........ ~o)
tmmbabs wrote:Market test my Discipline today, overall come out with a winner..... The chat room as been a useful environment for traders, if you have not been using it please do, lots of helping hand from members........ ~o)
You want to increase my work? (rofl) (hug)
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
A good day to start with, Do had my losses but I choose to focus on my profit and ignore my losses because Law of Universe state " Like terms attracts Like terms " I focus more on my positive trade and this has help me psychologically and mentally, nothing we can do to avoid losses, is just part of the package. EVERY DAY IN EVERY WAY, I AM GETTING BETTER AND BETTER.
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:y
The chat room as been a useful environment for traders, if you have not been using it please do, lots of helping hand from members........ ~o)