Gbp/usd

[Darlene]

As stated in class tonight I gained 480 pips. However, it came in 8 trades averaging 60 pips each. My mind is still locked into scalping since that is how I was introduced to FOREX. I practiced leaving the 3rd entry run (Gravy train) and re-entered another 2 trades to practice the 25 & 40 that Joe teaches hoping this will change my "need" to take the gain before it retraces. If anyone has any suggestions on how I can practice "letting it ride", I would appreciate it.

[HenryChidgey EAU/USD]

Howdy Darlene,
I am very new to Forex, but seems to me that practicing will accomplish what you want. How do you decide when to enter and what stops to put in place that allows you to have such success? I am struggling with that in my demo account.
Thanks,
Henry

[ForexJoe]

As stated in class tonight I gained 480 pips. However, it came in 8 trades averaging 60 pips each. My mind is still locked into scalping since that is how I was introduced to FOREX. I practiced leaving the 3rd entry run (Gravy train) and re-entered another 2 trades to practice the 25 & 40 that Joe teaches hoping this will change my "need" to take the gain before it retraces. If anyone has any suggestions on how I can practice "letting it ride", I would appreciate it.

Darlene,

The process is simple, let the gravy train ride... If you are able to take new positions, then you will be awesome

Once a pair takes off, your positions will build an account

You are doing awesome.... Patience is the toughest part to learn in these markets. Stay the course and congrats on 8 trades with positive pips

[ForexJoe]

Howdy Darlene,
I am very new to Forex, but seems to me that practicing will accomplish what you want. How do you decide when to enter and what stops to put in place that allows you to have such success? I am struggling with that in my demo account.
Thanks,
Henry

Henry,

Darlene has something that CAN NOT be taught. Experience trading.

Please review Tuesday Night's class several times and follow the OU Alerts to gain confidence in your methods.

Over time, you will build skills and train your mind new habits.

Continue the practice regimen to build skills...

Godspeed,

Joe

[HenryChidgey EAU/USD]

Howdy Joe,
Thanks for the comments. 45 trades so far.
Henry

[sarath]

There is a 'Buy' for GBP/USD in the Position Manager. It will be interesting to watch the movement as the candles on the daily chart are showing a downward bias and the Stochastics is showing signs of curling down

sarath

EUR/USD

[ForexJoe]

We already have Take Profit 1 and stop moved to Breakeven plus one pip

So we are locked into profit without any effect to account

the trade was executed earlier today

Are you getting LIVE RSS feed?

[Ron]

I was sorry to see somehow I missed this trade. My OUforex Reader shows the time at 16:26 at which time GBP/USD was already at around the 1.4540's + and never got close to 1.4521 entry again. A 1.4521 entry would have had to be about an hour earlier at 15:15. Should I have gotten in 20-30 pips late?

Joe would you please clarify?

P.S. Thanks for the humdinger of a EUR/USD trade that I was able to make many live pips!

[Jo EURUSD]

Yes Ron, I experienced exactly the same as you. Joe, are the trade alerts also supposed to come through as an e-mail just like the bias and key numbers? If so, I did not receive an e-mail alert.

[Darlene]

I was sorry to see somehow I missed this trade. My OUforex Reader shows the time at 16:26 at which time GBP/USD was already at around the 1.4540's + and never got close to 1.4521 entry again. A 1.4521 entry would have had to be about an hour earlier at 15:15. Should I have gotten in 20-30 pips late?

Joe would you please clarify?

P.S. Thanks for the humdinger of a EUR/USD trade that I was able to make many live pips!


Hi Ron,

I got in late and got TP1 & 2 once, this morning I entered again after charting my FIB lines & Fan which showed resistance @ 1.4605 . Within 2 minutes I got TP 1 with my gravy train still running from last night. The alert is the ultimate trade, but there is many spots to enter if you use the other tools.

[iluvgravy]

Howzit Joe,

I also couldn't find a R1.4521 Gp/$ buy price at 16.26 on 25/3.

Joe - is the time quoted on the Pos. Man. merely the time that the trade is recorded on the PM .... or is it the exact time that you placed the order??

Thanks

[Don]

I got in a little late at 1.4550 and got TP1 at 40 pips and TP 2 at 70 pips and was stopped out at BE +1 this morning. I entered the trade again at 1.4540 this morning and got TP 1 at 40 pips and TP 2 at 70 pips again and was stopped out at BE+1 again.

Don Lewis EUR/USD

[sarath]

Hi Ron,

I got in late and got TP1 & 2 once, this morning I entered again after charting my FIB lines & Fan which showed resistance @ 1.4605 . Within 2 minutes I got TP 1 with my gravy train still running from last night. The alert is the ultimate trade, but there is many spots to enter if you use the other tools.

Hi Darlene

I completely agree with you.

Use other tools in conjunction with Alert/Bias/Key numbers to maximise trade potential, as I had earlier observed on a bearish formation in the same thread.

For me, personally, entering a trade for 30 to 40 pips is not worth the effort and time as I can't trade during the day and as a result place several automated trades resulting in whipsaws. This is just a personal preference.

What I would like to see and learn from the Numbers is when a major reversal is to occur.

sarath
EUR/USD
USD/CAD

[ForexJoe]

Hi Darlene

I completely agree with you.

Use other tools in conjunction with Alert/Bias/Key numbers to maximise trade potential, as I had earlier observed on a bearish formation in the same thread.

For me, personally, entering a trade for 30 to 40 pips is not worth the effort and time as I can't trade during the day and as a result place several automated trades resulting in whipsaws. This is just a personal preference.

What I would like to see and learn from the Numbers is when a major reversal is to occur.

sarath
EUR/USD
USD/CAD


Sarath,

You answered your question by offering you are unable to trade during the day.

Please understand ALL the numbers are a guide depending on when you are able to access the market.

If EUR/USD moves 250 pips in 24 hour session, the timing when you are in markets will determine pip success

The OU Forex Trader Alerts give Trade Potentials that show certain numbers to pay attention

You will see growth month after month following the practice regimen

You are training your mind new habits.

I would hope you would change your mindset about entering trades that allow 30 to 40 pips yesterday.

If you reach TP1 25-to-40 pips, then you have moved stop to BE+1

the account is Protected...

I will take 30 or 40 pips every time I push the button...

Please imagine generating 200 pips a month X 36 months (3 years) and compound the account using a percentage of bankroll theory...

It would change your lifestyle...

So please be thankful ANYtime you push the Button and the result gives you TP1

That is first stop before TP2 and gravy train...

that will build an account with no risk

I fell into same mindset trap when I first started, I want to share my results
to think about.

Godspeed,

Joe

[Darlene]

Hi Sarath,

I was introduced to Forex about a year ago and felt the same way you do. I gave up practicing because I couldn't find a way to set my trades and not lose because of whipsaw.

My trading plan has two levels now...practicing how to leave "Gravy Trains" running when I can't watch them and using the technical tools to trade when I can check in on them periodically to add more possible gravy train. This will allow me to become comfortable with my progress and begin live trading to build an account that allows me the freedom to become a professional trader.

It's all comfort zone and retraining your mind to think different than the crowd. There's always room at the top because there are less people willing to climb up there.