Hi Bettina
Perseverrence wins through eventually. I have seen it that it needs 10,000 hours to master forex. That's more than I think is needed to fly any commercial plane, probably about the same as a good surgeon. So after about 3 years I have just begun!
Try and see things simply, don't seek to be an expert in elliott waves, however if you do have an interest in this, look at it in m15 first, diminish the scale if you like and really take note of whether the price is trending up or down. Add my favourite 63 EMA to your charts if you like, it's even slower than the purple line. Alternatively google search for an indicator called tunnel dragon, and while you're at it another one called stepMA. These will all help you be on the right side of the trend. That itself is one of the greatest lessons I've learned. Don't enter trades that are against the trend. If you go with the trend, the worst thing you can do is to have entered near its turn around point. Otherwise, if you are in a trade and it's not giving you TP, and is going a bit into loss, you can decide whether to stretch the SL in view of the market being in a pump and dump range, and baby sit it, and you might even be able to stretch your TP when it comes back round and get a glorious win instead of another loss. Yes, this sort of thing is clearly against advice, but follow the trend, the trend is your friend!
Keep at it.
Bettina's Journal
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wiseambitions
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Re: Bettina's Journal
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
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Bettina
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Re: Bettina's Journal
Hi Ray,
thanks for your thoughts. I was not aware of taking too many trades against the trend, but of course it depends, which TF determines your ( personal ) trend. Yes, the last one was a wave c, which often is very proftable.
But be sure - i will keep at it
Bettina
thanks for your thoughts. I was not aware of taking too many trades against the trend, but of course it depends, which TF determines your ( personal ) trend. Yes, the last one was a wave c, which often is very proftable.
But be sure - i will keep at it
Bettina
Last edited by Bettina on 12 Dec 2012, 10:42, edited 1 time in total.
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Bettina
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Re: Bettina's Journal
Hi,
I didn't have many trades since my last post, no large winners, but I could reduce my number and amount of rents.
Today I have 2,4 % with 3 trades and will stop it now, because I'm the absolute master of giving away morning wins.
GU entry was a bit late, but I was not sure and then took S2 above the trendline and after the bullish reversal at the green line.
Bettina
I didn't have many trades since my last post, no large winners, but I could reduce my number and amount of rents.
Today I have 2,4 % with 3 trades and will stop it now, because I'm the absolute master of giving away morning wins.
GU entry was a bit late, but I was not sure and then took S2 above the trendline and after the bullish reversal at the green line.
Bettina
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Topher
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Re: Bettina's Journal
Bettina
Nice trades and even better discipline.
It is sometimes difficult to walk away from the charts when you have had a few wins. Better to take the profits than carry on and get complacent and give it all back.
Richard
Nice trades and even better discipline.
It is sometimes difficult to walk away from the charts when you have had a few wins. Better to take the profits than carry on and get complacent and give it all back.
Richard
The forex market will pay you well for discipline.
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Bettina
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Re: Bettina's Journal
Hi Richard, nice to hear from you. How are you, still performing extraordinarily ?
Cheers
Bettina
Cheers
Bettina
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Topher
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Re: Bettina's Journal
Bettina
Yes still trading and doing okay.
I have really upped the pace with elliott wave and have spent the past couple of months learning all I can about it. I am finding it extremely powerful when interpretted correctly.
Richard
Yes still trading and doing okay.
I have really upped the pace with elliott wave and have spent the past couple of months learning all I can about it. I am finding it extremely powerful when interpretted correctly.
Richard
The forex market will pay you well for discipline.
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Bettina
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Re: Bettina's Journal
Nice 12.5 pips after the news ( exit was TP above 60 min low ) and 2.1 % for the day ( with 2 other little trades ). Stop for today !
Bettina
Bettina
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Herbert
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Nice going there Bettina... \m/ You are on a roll..... Keep it up.
Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
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wiseambitions
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Re: Bettina's Journal
Glad to see you're on the rebound with your trading.
Just got to go with the rules. I have noticed that whereas other people on various blogs always trying to predict where the market will go to next, and where the top or bottom will be, this system seems to keep us out of trouble to the extent that wins exeed losses, whatever the fundamental factors are doing. I need to plaster a message with that on every visible surface next year. I think there are HUNDREDS of pips, even thousands, available every day and we only need a few of them to get something back from the markets!
Just got to go with the rules. I have noticed that whereas other people on various blogs always trying to predict where the market will go to next, and where the top or bottom will be, this system seems to keep us out of trouble to the extent that wins exeed losses, whatever the fundamental factors are doing. I need to plaster a message with that on every visible surface next year. I think there are HUNDREDS of pips, even thousands, available every day and we only need a few of them to get something back from the markets!
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
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Bettina
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Re: Bettina's Journal
Hi,
happy new year to you all and thanks for the various nice wishes !
Well, I will try to keep my journal on track again. Took a rest over the holidays, but the beginning of the new year was not yet really amazing in terms of pips.
Today 2 trades so far. Before anyone is asking : "Why did you get out ?"
My entry of the second trade first was above the M1 level and TP 10. It was w5 and above TZ2 and the TP just below a pivot line. So I thought, that's ok.
Then I moved my entry above M5 level, which was not necessary in this case, but I did it with the experience of the first trade.
Ok, then my TP was only 8.5, which was hit faster than I couldn't react. W5 changed to w3 only two candles later .
But the beginnig of this day is positive, so I'm content.
Cheers Bettina
happy new year to you all and thanks for the various nice wishes !
Well, I will try to keep my journal on track again. Took a rest over the holidays, but the beginning of the new year was not yet really amazing in terms of pips.
Today 2 trades so far. Before anyone is asking : "Why did you get out ?"
My entry of the second trade first was above the M1 level and TP 10. It was w5 and above TZ2 and the TP just below a pivot line. So I thought, that's ok.
Then I moved my entry above M5 level, which was not necessary in this case, but I did it with the experience of the first trade.
Ok, then my TP was only 8.5, which was hit faster than I couldn't react. W5 changed to w3 only two candles later .
But the beginnig of this day is positive, so I'm content.
Cheers Bettina
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