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Hey RT'rs:
To quote John Lennon:
"I don't believe in <put your favorite trading belief here>,
I just believe in me."
I'm not interested in anything related to trading "just because", and
that includes astrology and that includes MA's and stochs and that
includes freezes in Florida.
All I'm interested in related to trading is trading. So where are
your trades? Trades are the be all and the end all. Behind a trade is the
why and wherefor. The why and wherefor are only interesting and of value
in the context of specific trades!! Then they show their value, and
their risks. And the value is the real time assessment, uncertainty,
decision making, and final execution based on your beliefs...not
after the fact analysis. (i.e., historical trades are of far less
learning value, imo)
So, I am much more interested in hearing what you are
buying or selling, and how, and THEN why, and how you are managing your
trade over time...than I am in abstract assessments of why you do, don't,
may or may not believe in astrological influences, or TA, or Super Bowl
theories, or whatever your trading system is.
I'm interested in your trades and your logic and what happens because
from that, I can learn. Maybe I even learn astrology, who knows.
(Note: nothing really wrong with abstract stuff, I can skip over it
quick enough; I'm not suggesting not having those discussions; who am
I to suggest that. I'm just interested in getting something from this
forum, and tying the abstract stuff to the real thing makes it...real.)
To whit:
A HORRIBLE TRADE:
Sold short one JY8Z at market, order placed Tues. night. Good idea!
Horrible timing. The Tuesday action that screamed "sell" had
already had its effect, and Wed. opened far, far lower. (Globex
when I checked it last night was a little lower, but not much.)
And then JY bounced and rose. After what looked like a possible high
had been established, I placed a tight stop, but another bounce took
me out for a quick $500 loss. Ouch! I am, yours truly, a fool. I
swear it: I will NEVER NEVER NEVER again use a market order to enter
into a currencies position. NEVER!!!!! (and I think I told myself
that only last week too, which goes to prove that learning requires
repetition!)
Oh yes, what screamed "sell"? A "star" pattern from Japanese
candlesticks, where a significant upmove is topped by a gap open
with a down close, and the low is above the previous day's high.
A "dark star" above the previous action. It commonly signals a
significant turn. I needed to see it in real-time though, and
get in on Tuesday's close..."I'd be rich now". Well, I'd certainly
have alot more $'s in my account equity, anyway.
-k
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