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TRADE IN GBP/AUD - RESULT

KUTTY Publicado 6 Oct  en #Trader's blog
Dear friends,
I had discussed about the trade in GBP/AUD which i took on 4th.
As it has happened to millions of traders and trades in the past ( and will happen in the future ) - my SL was taken out exactly and then the price reversed to my intended take profit !!
HOW MANY TIMES THIS HAS HAPPENED - EXACTLY OUR SL IS TAKEN OUT AS IF THE MARKET KNOWS OUR SL !!
SUCH THINGS HAPPEN - LESSON IS - VERY TIGHT AND NARROW SL LEVELS WILL BE TAKEN OUT - ATLEAST 10 PIPS HIGHER THAN THE PREVIOUS HIGH SHOULD B…
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TRADES IN GBP

KUTTY Actualizado 4 Oct  en #Trader's blog
Dear friends,
They say never leverage 100% but i am violating the rules to check things - for 100th time !
I saw that GBP was in sell mode,i took 2 trades - short GBP/AUD and short GBP/JPY
Let us see the chart of GBP/AUD.
THE SL IS VERY EASY HERE - 1.6910/1.6920 LEVELS
I FEEL THE PAIR WILL FALL UPTO 1.66 AND SELL IN DAILY CHART also if price does not break today's high.
Let us wait and watch how the trades go
Happy trading,Kutty
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THE 3 VICES OF TRADING - part 2

KUTTY Publicado 10 Jul  en #Trader's blog
Dear traders,
We continue from yesterday , ( the first vice was - PERFECTIONISM )
Vice Number Two: EGO
Everyone likes to win in the markets. It’s only natural to feel good when you’ve done your homework and end the day with a profit to reward your efforts. Ego involvement in trading, however, goes further than this. When the ego is involved, we write the market a blank check for our self-esteem. If trading is green, we feel good about ourselves; if we go into the red, we feel diminished. That p…
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The 3 VICES OF TRADING

KUTTY Publicado 8 Jul  en #Trader's blog
Dear traders,
I will post useful trading articles from some of my favourite sites.
The Three Vices of Trading - PART 1
One of the best ways of becoming an observer to your negative behavioral patterns—rather than a trader lost in those patterns—is to periodically take your emotional temperature. That means standing back and asking yourself: Am I falling prey to one of the vices below? Remember, observing and interrupting your patterns are the first steps in altering them! Your patterns lose con…
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GBP CRASH

KUTTY Publicado 2 Jul  en #Trader's blog
Dear Traders,
We all knew how the GBP crashed last week during the referendum results.
GBP/USD and all other GBP pairs crashed in a minute.
I HAVE A FEW DOUBTS REGARDING THE CRASH - 1. We are unable to put orders manually in this HFT/ALGO crash. HOW TO OVERCOME THIS ?
2. IF , FOR Ex. WE SAY , PUT A LIMIT ORDER OF 20 BILLIONS BUY AT 150.00 FOR GBP/JPY, WHETHER THE CRASH WILL STOP OR OUR LIMIT ORDER OF 20 BILLIONS WILL BE BOUGHT AND WILL ANYHOW STOP ONLY WHERE IT IS ALREADY DETERMINED BY THE HFT/A…
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POOR ENTRY

KUTTY Publicado 1 Jul  en #Trader's blog
Dear traders,
Many times we know the direction of the trend but do not have patience to wait for the right price.
We see at the lows or buy at the highs - even if our direction is right,because of our poor entry price, either we need to wait for long or lose potential good trades in the waiting period.
Mostly the reason is - we are afraid of missing the trend.
This happened today in GBP/JPY
I WAS FORCED TO CLOSE FOR A SMALL GAIN SINCE IT WAS FRIDAY NIGHT AND MY LEVERAGE WAS HIGHER.
HAD I WAITED …
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BLUNDER AGAIN

KUTTY Publicado 22 Jun  en #Trader's blog
Dear traders,
Yesterday i wrote about blunder in far and wide SL.
Today i added that with another blunder - very poor entry
THIS IS IN GBP/JPY PAIR.
I DO NOT KNOW, I INSERTED CHART HERE - BUT IT IS NOT COMING = Dukascopy,please rectify this.
AS YOU CAN SEE, T WENT SHORT AT THE LOWEST POINT - AFTER A 170 PIP FALL FROM THE HIGH AND PUT A WIDE 150 PIP SL
AND AS USUAL IT WAS TAKEN UNUSUALLY AT THE DAY'S CLOSING MINUTES LIKE A LIGHTNING !!
AGAIN I LOST 33% OF MY CAPITAL WITH SUCH A POOR MONEY MANAGEM…
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BASIC BLUNDERS

KUTTY Publicado 21 Jun  en #Trader's blog
Dear Traders,
ONE OF THE MOST BASIC BLUNDERS IS NOT PUTTING THE SL . PEOPLE FORGET THAT - ALSO EQUIVALENT IS PUTTING A FAR AWAY SL ( so that it can't be touched ! ) - but ANYHOW WE FIND THAT OUR "SAFE AND FAR" SL WILL BE TAKEN OUT 100% OF THE TIMES !!
This is what happened to me in GBP/JPY pair yesterday.I WENT SHORT AT 152.33 AND PUT A WIDE SL AT 153.65 - A 130 PIP SL - A VERY WIDE SL FOR MY RISK AND LEVERAGE USED.
You can see that it did not go 35 pips below but instead went 165 pips higher !!…
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PUNISHED PROMPTLY

KUTTY Actualizado 20 Jun  en #Trader's blog
Dear traders,
BASIC BLUNDERS WILL BE PUNISHED PROMPTLY IN THE MARKETS.
I WAS TRADING AGAINST THE TREND IN GBP pairs AND HOPING AGAINST HOPE THAT IT WILL REVERSE AND ALSO PUT VERY FAR AND WIDE SL - THINKING VERY SAFE .
BUT AS USUAL - THE FAR AND WIDE SL WERE TAKEN OUT PROMTLY AT THE WEEK START.
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NARROW STOP LOSSES

KUTTY Actualizado 17 Jun  en #Trader's blog
Dear traders,
Normally we put SL just below or above the previous swing high or lows.
Many times it works but sometimes SL HUNTING happens exactly at that point - it always happens irrespective of the time frame of our trades.
The only difference is lower the time frame we use, more the number of whiplashes.
Today this happened to me in GBP/AUD pair.I WENT LONG AT 1.9325 , WHEN IT BROKE THE SECOND TIME but put a narrow stop loss at 1.9270 .
As you can see, 1.9250 or even 1.9260 ( previous low in…
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