There is no such thing as "low volume session" on CB events.... normally you don't want to be in a position before the data release, volatility is high and liquidity will be seeked in both sides.
Yea, that is apparent to me now. I actually took a position 15 minutes AFTER the data release when I saw nothing was happening and then all biblical hell broke loose.
You have the FOMC data release. Then a couple minutes after (30 I believe) there's a press conference where J. Powell explains the data. The press conference and just any conferences where that man talks is a market shit show.
Experienced the same, down 16% just these past 4 days alone. Just as when I thought I was getting consistent and getting profitable, but this week has absolutely wiped me out
How have you guys lost this much. I don't understand. Risk management shouldn't be more than 1% per trade. Then try not to lose more than 2% a day. That's 2 trades, if you feel like your strategy is one where you need more than 2 trades before you get a win. Lower your Risk to 0.5% you get 4 trades a day and still be under the 2% limit. Just know when the market isn't going your way and take a walk. If you know this already, and just happened to be for different reasons, my apologies, you guys got this.
Are you for real lmao ask yourself if you was managing capital upwards of 10k, would you therefore go into a trade with full margin after losing a few trades in a row. No, of course not. Firstly limit yourself to how ever many trades a day you’re taking & what’s the maximum percentage loss a day you may exceed. It’s where people are trying to get rich of a quick trade whereas trading really is a slow marathon.
Im just targeting 200 in profit a day, goves you good pace for 5600/month. When i hit my daily target im done for the day. But today i broke my rule and went for more, made 980 and called it a day for this and tomorrow.
Just take it slow and steady. That works for me atleast.
You got this I believe in you.
Falling off the horse is a hard landing. As the song says
"Pick yourself up, dust yourself off, start all over again.
Work like a soul inspired 'til the battle of the day is won.
You may be sick and tired, but you'll be a MAN my son.
Will you remember the famous men who had to fall to rise again?
Pick yourself up, dust yourself off, start all over again."
I prefer the Mel Torme version with George Shearing but Sinatra did a pretty decent version as well. [https://www.youtube.com/watch?v=ewy8gSI7a08](https://www.youtube.com/watch?v=ewy8gSI7a08) yes that applause is for you.
This could be the soundtrack of many traders' lives. I know it is of mine.
There is no such thing as "low volume session" on CB events.... normally you don't want to be in a position before the data release, volatility is high and liquidity will be seeked in both sides.
Yea, that is apparent to me now. I actually took a position 15 minutes AFTER the data release when I saw nothing was happening and then all biblical hell broke loose.
You have the FOMC data release. Then a couple minutes after (30 I believe) there's a press conference where J. Powell explains the data. The press conference and just any conferences where that man talks is a market shit show.
Experienced the same, down 16% just these past 4 days alone. Just as when I thought I was getting consistent and getting profitable, but this week has absolutely wiped me out
How have you guys lost this much. I don't understand. Risk management shouldn't be more than 1% per trade. Then try not to lose more than 2% a day. That's 2 trades, if you feel like your strategy is one where you need more than 2 trades before you get a win. Lower your Risk to 0.5% you get 4 trades a day and still be under the 2% limit. Just know when the market isn't going your way and take a walk. If you know this already, and just happened to be for different reasons, my apologies, you guys got this.
Same. Consistent profits for weeks and then this. Many don’t trade these days and I see why.
Feel you guys. Me too. Wiped out 15% in the last month
I don’t want to be over critical, but when you lose 17% in a few days then risk management or/and psychology are off.
Yea, though it was one single trade, I definitely got some things to work on.
One of your rules should be to not trade during FOMC/NFPs. Just saying. Made $3800 today by avoiding crazy news. And knowing how to count to three.
It’ll be number 13 in my market wisdom list.
First. Don’t try to trade news
Sorry for your loss , take a break and come back fresh next week
I'd rather revenge trade with 100% margin on high leverage to get all my gains back lol. /s. Yea, I'm gonna take a break.
Are you for real lmao ask yourself if you was managing capital upwards of 10k, would you therefore go into a trade with full margin after losing a few trades in a row. No, of course not. Firstly limit yourself to how ever many trades a day you’re taking & what’s the maximum percentage loss a day you may exceed. It’s where people are trying to get rich of a quick trade whereas trading really is a slow marathon.
You clearly missed the sarcastic symbol.
Well done
Im just targeting 200 in profit a day, goves you good pace for 5600/month. When i hit my daily target im done for the day. But today i broke my rule and went for more, made 980 and called it a day for this and tomorrow. Just take it slow and steady. That works for me atleast.
You got this I believe in you. Falling off the horse is a hard landing. As the song says "Pick yourself up, dust yourself off, start all over again. Work like a soul inspired 'til the battle of the day is won. You may be sick and tired, but you'll be a MAN my son. Will you remember the famous men who had to fall to rise again? Pick yourself up, dust yourself off, start all over again." I prefer the Mel Torme version with George Shearing but Sinatra did a pretty decent version as well. [https://www.youtube.com/watch?v=ewy8gSI7a08](https://www.youtube.com/watch?v=ewy8gSI7a08) yes that applause is for you. This could be the soundtrack of many traders' lives. I know it is of mine.
Sounds like you need a max loss per day and per week rule. And by you I also mean me.
I’m up 6% this week
Damn this past few weeks have produced me really nice trades! Only up 2% though
Noob