Agreed, getting rid of the ego is a nice task though, always wanted, never achieved lol. But I noticed that when you are right, i.e. not chasing, attacking or scaring the market, it also feels right. So it's easy to tell if you're on the wrong side.

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So you never hold on to losing trades when you leave?

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definitely. my stop was missed by just 0.4p!

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Did do that for some time, but back then I was inexperienced enough to let losses run, so I take it a) as a safety net overnight and for any unexpected events and b) for learning to be disciplined when basing trades on strategies. but you're right, ...

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about time to extend the range. I didnt exit, I scaled in, so am fine by now.

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Thanks for sharing your experience, you've been generous today.

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At the moment I entered long for the up side of the range it started to break down, but I was prepared since that happens more often than not with me, ranges just don't respect me, how do you know when this happens in advance? .

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On the other hand that certainly hits any SLs, but might recover seconds later. With the new safety systems in place (see Flash crisis) that won't happen so soon either. I understand his point, but I will always put safety stops nevertheless, since ...

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And what if the market goes insane not allowing you to close out early? Like 500p panic selloffs? Not even have a safety money management stop? You're the man, man.

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That's the thing - as a hunter I'd go for exactly those 50p, because I expect people to be predictable like that. So unneccessary losses, and keeping it bigger or arbitrary is too risky.

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Yeah I thought so. It is for the best, but soo risky in case your computer crashes or sth alike. Also if your forecast is wrong it requires you to have the balls to close out.

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Do you base all your trades on intraday charts? How do you handle your stoploss for trades that take several hours or days, or do you do intraday only? I'm excited to know as my stops are regularly hit although the overall forecast was right ...

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pfff, next time tell us before you move the market due to boredom so we can get some pips

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I also recognized that, but may just be buffer and lack of room to go down more before any facts.

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Trading styles can be extremely different yet still profitable. Thats the problem most newcomers have, they need to learn to distinguish and find whatever suits them. Only thing that counts is the statistical longterm expectation of your style, it ...

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Very correct. And don't forget the human factor, we're better at assigning priorities and filtering noise than EAs can ever be. I suppose the EA he made was trading the same strategy which he obviously was a bit too confident with. Fact is, you can ...

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All you have to do is crank up the range When there are obvious levels, I'm playing the range even if there is a longer term trend. I don't even see a difference, just the time[frame] it needs to get to each side.

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I read you're using the time for teaching, nice. Very wise posts.

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Good morning. Looks like you had a hell of a day, I'd have expected at least some more up/down, instead the zone was not left yet. Levels seems important then, as are breaches.

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happy pipping, I'll go to bed now (sl/tp set), back for fomc. cya.

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