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@  Cookiebrawler : (17 September 2019 - 04:27 PM) MegaMoney 90%
@  aasir : (16 September 2019 - 10:25 PM) Binary Triumph
@  traderpusa : (10 September 2019 - 01:35 AM) that was my bmw lol. E60.
@  Monoaldo : (10 September 2019 - 01:34 AM) E60
@  manfloy : (09 September 2019 - 11:12 AM) well said.
@  traderpusa : (09 September 2019 - 11:07 AM) at least for the moment, china will hold back because of economic conditions. My guess is they want to involve PLA but simply are not in a position to do so for the moment.
@  traderpusa : (09 September 2019 - 11:05 AM) well, regardless of any agreement between uk and europe, there is still nato is trump doesn't blow it up lol
@  manfloy : (09 September 2019 - 11:04 AM) I am really worried about HK if the PLA phase in this can interrupt the entire chain between FX liquidity and current import / export countries. I understand that we have a bunch of corporations exposed to China, now believe that 99 percent of them are stable in HK because they have a high law. If the PLA gets in, they'll substitute this economic centre with a singapore.
@  manfloy : (09 September 2019 - 11:04 AM) Yeah, they're really a very significant player. I am informed that there is also a lot more than economic, for instance there are a number of military agreements agreed between the GB and the EU, which is serious.
@  traderpusa : (09 September 2019 - 11:02 AM) the UK being part of the EU GDP figures, but not part of the Euro only makes things a bit complicated on how to interpret numbers for trading purposes.
@  traderpusa : (09 September 2019 - 11:00 AM) of course one needs to focus on US being the biggest economy but UK is still up there. https://gyazo.com/42...39df1c7c58d9221
@  manfloy : (09 September 2019 - 10:56 AM) I'm focused on the US, so I don't spend so much on the GB, I'm supposed to study it well since 2015, but something has altered worldwide, literally, it's an enormous step in the world's liquidity and global system, modifications are nice, but they're really colorful.
@  manfloy : (09 September 2019 - 10:56 AM) thanks good reading
@  traderpusa : (09 September 2019 - 10:53 AM) As to China, read this over the weekend : https://apnews.com/6...f75f013bf54e6a9
@  manfloy : (09 September 2019 - 10:51 AM) Spectacular indeed lol, this is huge to be honest
@  traderpusa : (09 September 2019 - 10:47 AM) it's gonna be interesting. MP's are leaving the sinking ship and now also Bercow has resigned. Gonna miss this guy lol
@  traderpusa : (09 September 2019 - 10:46 AM) https://gyazo.com/58...16d785753060ff0
@  manfloy : (09 September 2019 - 10:44 AM) I am very concerned about GBP, I have decided to leave until the government is making some definite deals on the Brexit. I'm not a supporter of uncertainty.
@  manfloy : (09 September 2019 - 10:42 AM) US It is expected to rebound until new years, because the season is coming and everyone is ready for new year revenues.
@  manfloy : (09 September 2019 - 10:41 AM) China is underwater now, and I can't even define how starving they are for dollars. Their imports fell significantly last quarter. They're trying to stimulate again, but I don't think it should work out, more than: we're back to the 2014/2015 situation. The issue with the Chinese central bank cutting off the supply of cash, the issue that they are not diversified around the world.

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When should you STOP trading?


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12 replies to this topic

#1 JonJon

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Posted 05 April 2017 - 06:56 PM

So after struggling with BO for over a year, I STILL find myself over trading.  More specifically, I consistently run into periods where the market just dies, and I end up giving back my hard won earnings over and over.

 

I wanted to pose a question.  What strategies or filters have people found that work for them, to decide that its time to shut down the PC for an hour or for the day, and walk away?

 

I know not to trade during heavy news release, and I know Top and Bottom of the hour can be a bad time to trade, but besides setting a fixed time to stop, or a fixed win/loss level, are there any other things that people are doing to decide that its time to walk away?

 

EDIT:  I am on California West Coast time, so I have to manage that.  I am able to trade end of day New York, London open, and early Asian time most days.  I think those windows are sufficient that I am active during some decent windows, so just focusing on London AM/PM is not the answer for me.



#2 shaileshm

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Posted 05 April 2017 - 07:08 PM

apart form setting up rules like fixed trading hours and fixed number of trades etc. i would say its equally important to have a feel of your own body-mind(or mood or gut feeling or whatever you want to call it). Because sometimes you are just not energetically poised rightly to sit on trading. Dont trade if you just had a argument with someone or just in a bad mood or just feeling lazy. hope you are getting the point.


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Know Thy Setup. Know Thyself.

#3 shaileshm

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Posted 05 April 2017 - 08:28 PM

I used to overtrade as a beginner. but thats understandable because you are simply trying out so many things, experimenting what happens if i add this indi or remove that indi and so on.

 

These days i only take 2-3 trades a day. 4 would be a maximum. And most of them go into the money. i completely avoid news end of day etc. moment i see market gone choppy i just go out for a walk or have some tea/coffee.

 

Its important to have a disciplined routine but its also not a job that I must show up at the office at bang 9 Oclock whether I like it or not.


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Know Thy Setup. Know Thyself.

#4 HAWK

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Posted 06 April 2017 - 01:10 AM

İf you satisfied your trading skill / method and only problem is over trading, switch a higher TF and catch less signals..



#5 jace

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Posted 07 April 2017 - 02:18 PM

i use a pointsystem 1.6 for ITM / 2 for OTM

 

Pro Day:

 

Max. 4 points ITM

Max. -6 points OTM

 

that means 3 trades a day if i would get 3 ITM. If i loos i will try to trade so long until i got my 4 points

 

Example: 1 Win = 1.6 points, if i after that loos a trade i have -0.4 points, if i win again i have 1.2 points and so on but i can loos on a day max 3 trades in a row if you did not have any winnings before.


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#6 reteid

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Posted 07 April 2017 - 08:44 PM

Sum signs that u should think about NOT to trade:

- When u have no more money......

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- Your girlfriend left you cause u are trading the whole free time

hCSAvUhc.jpg


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codingwizzard.png


#7 raydioturner

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Posted 08 April 2017 - 02:10 AM

Deciding not to trade is still a trading decision, and a crucial one at that. Deciding to withdraw some of those profits to take the kids for ice cream is one of the best trading decisions you can make. FACT: The ice cream will taste even sweeter.
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#8 hatırlaa

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Posted 08 April 2017 - 02:37 AM

It is the strategy itself describes when to trade or not. You trade on lets say choopy market then get bad result. You trade them because you find them tradebable. But when you get bad result you just say ohh it was choopy market why did i trade. If if you got nice result you say okay good. You see. Actually it is about knowing what you are doing. If your strategy can not tell difference between when to trade when to not then build new one

195b6b3376864735b4638460a892b05f.png


#9 jukebox

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Posted 08 April 2017 - 08:38 AM

I will stop if I get tired of trading later on. I am the type of person who likes to try new things and I do not stick to old ones anymore. Self-control is always good. I tend to stop myself from getting addicted before I destroy myself.



#10 Someoneelse

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Posted 25 April 2017 - 04:51 AM

I think you should stop when you stop controlling your emotions.



#11 BrianC

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Posted 30 April 2017 - 03:19 AM

You can't put an indicator or filter on MT4 to control your emotions, and that is what this is about. Set strict rules, maybe 1 or 2 ITM per day, or the equal to that if you loose a trade or two, and what is just as important; a max. loss per day, maybe 2, no martingale, and once one of those two things happens, you stop trading for that day, no matter how good or bad the market looks to you, you just stop. It's a matter of training your brain, changing your mindset, to be able to follow a strict set of rules and overcome greed and revenge trading.



#12 Someoneelse

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Posted 26 May 2017 - 04:15 AM

If you feel emotions are starting to overcome common sense, you should pause and rest for a while, discract yourself.



#13 janisroze

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Posted 26 May 2017 - 06:35 AM

For me it's Bank Holidays.

 

I know I should just skip the whole day if there's a Bank Holiday of some prominent country (USA, UK, Canada, Switzerland etc.).

Because, from my own experience, the market on days like these tends to be erratic and all of a sudden my strat doesn't produce the same probability percentages.

 

On my whiteboard I keep a list of tell tale signs that act as indication that something is off:

  • Price has gaps
  • Broker has lower that usual payout
  • Price is slow
  • Price acts weird
  • Low volume

And then there's the emotional check list of course. I should NEVER trade when I'm feeling:

  • Tired
  • Agitated
  • Overeaten
  • Sleep deprived
  • Heartbroken
  • Desperate
  • Greedy
  • Angry

In simple terms: I should be trading when the market conditions are relatively normal and my emotional state is neutral - I'm in a carefree, probability driven, state.






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