Someone told me before, when you profit you're right, when you loss you're wrong.

Right or wrong statement?

Yes that's correct, no right or wrong in the market, but the only
question is how consistent are you in making profit

50 - 50 Answer, Depends on situation.
You can gamble, either you win or you loss.
You can have a plan, either you win or you loss.
You can have whatever reason, but you greedy / panic you make a loss.

End of the day, your initial deposit can let you survive for how long?
If over a year you still kicking strong, no need much as long you making avg +20%p.a. you are right with your system.
If you less making anything less than avg +10% you're wrong with your system, something needs to be done.
Trading business, is about consistency.
You can win big today, you can burn to ground zero tomorrow.

This post has been edited by zDarkForceSz: Jan 21 2016, 03:19 PM

my previous post


paper trading with you
Just now 9.45am long @ 1100.68
Current price is 1104.16
TP setting @ 1112.61

I dunno am I thinking too much?
Gonna stay off the market and view it.
I sense some storm is brewing.

I liked your analysis. However I am bearish-biased (intermediate to long-term) & I have a feeling it is going to break the 0.6876 level.

I agree, though price seems to be reversing for AUDUSD, it still hasn't broken any important short-ing decision points. Some may call it important resistance, lol. But I'm definately staying off from AUDUSD until the ranging stops.

for London session,

Longs: AUDUSD, USDCHF, USDJPY

Shorts: EURUSD, GBPUSD, USDCAD

that means your psychology is strong if you can execute them unconditionally.
it still involves psychology a.k.a. discipline.

its more like don't let the feeling take over you.

GBPUSD is back into action

I am 20+ pips in profit now

I am 100+ pips in profit now

Mind sharing your EXIT plan?

Well I'll look at H4 and see if price rises up to the last point where price turned strongly. That should be a good enough place to put the SL

Thanks for sharing.

On another note, that sudden jump in EURUSD, good thing I'm not in EURUSD

Those who sell EU/JP EU/USD yummm.... nice pips

Any specific reason for the down-spiked?
The "Unemployment Claims" news at 9:30pm was bearish for US$ so should be spike-up, no?