Tuesday, November 9, 2010

One more chance for the fool

On first trade, the two pillars of catastrophy were there : late entry and refusal to exit with a loss. Price went to -18 and I was just looking at the disaster, like a petrified newbie. Then price recovered to breakeven, trade not closed, and went south again, making a double top. I closed with a -6.8 loss, in extremis, just because the market was kind enough to give me a second chance..The pips came immediately after, when I got the correct direction...


Thanos said...

could u explain whats the white arrows and black arrows correspond to?
I suppose entries&exits but what is the difference between black&white arrows?

The forexbird said...

black arrows are entries/exits. white one are indicator related, i don't pay attention to them.

Mike Lewthwaite said...


I enjoy watching your blog and have been wondering, Are you using the 3 range alone or are you using shorter and longer timeframes for precise entries and bigger moves?



Anonymous said...

Heah Constantino,
this trade reminded me of another 'ugly one' when u did the same mistake of holding on & hoping. Then 'Pip God' showed mercy and gave u the second chance..lol.

It feels good to see that frequency of ur 'ugly ones' has reduced dramatically..:D

Tc bro..:)
King Singh.

Anonymous said...

U kno, i often see the duration of trades that u take (as sometimes there are more than 15-20 bars in a minute that require real quick reflexes)..
And in this case..35 minutes of horror fo u.. uff !!

The forexbird said...


I have a MT4 open on a separate monitor with 15m, 1h, 4h charts. Mainly to avoid entering against res/sup levels of these TFs.

The forexbird said...

""t feels good to see that frequency of ur 'ugly ones' has reduced dramatically..:D""

evolution's benefits...

""And in this case..35 minutes of horror fo u.. uff !!""

bloody morning, indeed! lol

Johnson said...

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