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bringin sexy back - stochastics 2527 replies

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Would it be too much trouble to pay me back my $20,000, my sexy darling?

that's a great question

i don't believe in "edges" but i believe you can compound your account during a "lucky streak...." so by only risking a small percent of the account every few weeks, a lucky streak can treat you well.

on the other hand, losing several months in a row will not sting you.

you won't find guaranteed advantages or you'd dominate the world and that just couldn't last very long.... on the other hand, you can protect your capital and risk only house money, sometimes walking away a big winner.
I understand. What you are doing is more about risk management and trade management so that you are able to maximise your lucky trades and streaks whilst simultaneously minimising the impact of bad luck. In this way you can be unlucky more often than lucky and still come out infront. cut losses and let profits run so to speak. Most trending systems if managed corectly are profitable with less than 30% success rate but It is psychologically harder to do this. I prefer the idea of getting 60 - 70% hit rate with 1:1 or better risk:reward to taking 10 or 20 losses in a row and riding 1 winner hard. Having said that I havent ruled it out. I know many successful traders trade like this including Jessie Livermore. Dont suppose you would care to share your methods tdion? I wouldnt mind knowing exactly how you manage bad luck to produce profit
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I opened a long trade on GBP/JPY at the start of the month based on NTFX comments after NFP - I lost 30% of my account before I finally took the loss. (you guessed it, it turned in my favour soon after I was out) I then fought hard and scalped back about 80% of my losses before I took a another loser short on EUR/USD and held it until it was 100 pips away from gutting my account. I finally admitted I was gambling again and cut the trade right before the Bernanke comments turned the EUR/USD back below my short entry. If I had held both trades I would have done well this month but that is not the point. Sooner or later this type of risk was going to get me. I now am back down to $750, a little more than my original stake, after a short lived peak $2600. Hopefully I have learnt this time - define the risk and TAKE THE F@#%ING LOSS!!!!
AUD/USD EUR/USD
Quoting M.A.C.Doug
I opened a long trade on GBP/JPY at the start of the month based on NTFX comments after NFP - I lost 30% of my account before I finally took the loss. (you guessed it, it turned in my favour soon after I was out) I then fought hard and scalped back about 80% of my losses before I took a another loser short on EUR/USD and held it until it was 100 pips away from gutting my account. I finally admitted I was gambling again and cut the trade right before the Bernanke comments turned the EUR/USD back below my short entry. If I had held both trades I would have done well this month but that is not the point. Sooner or later this type of risk was going to get me. I now am back down to $750, a little more than my original stake, after a short lived peak $2600. Hopefully I have learnt this time - define the risk and TAKE THE F@#%ING LOSS!!!!
On the positive note,you had a chance for this experience which will make
you a sharper and successful trader.Dont give up,get some rest,do something different like maybe qi qong ,meditation or whatever.Then come back and start fresh.Trust me from this time you will know to stick your only one strategy.Plan the trade and trade the plan.Be joyful for the experience and you see the light.

Wish you success and God Bless.

Zu
Quoting M.A.C.Doug
I opened a long trade on GBP/JPY at the start of the month based on NTFX comments after NFP - I lost 30% of my account before I finally took the loss. (you guessed it, it turned in my favour soon after I was out) I then fought hard and scalped back about 80% of my losses before I took a another loser short on EUR/USD and held it until it was 100 pips away from gutting my account. I finally admitted I was gambling again and cut the trade right before the Bernanke comments turned the EUR/USD back below my short entry. If I had held both trades I would have done well this month but that is not the point. Sooner or later this type of risk was going to get me. I now am back down to $750, a little more than my original stake, after a short lived peak $2600. Hopefully I have learnt this time - define the risk and TAKE THE F@#%ING LOSS!!!!
65% loss in one trade !!!...
On a brighter note, I just made senior member at FF!

I added 700 dollars to my depleted funds and got back on the horse. I took one trade during asia today risking 1.5% of my account for a 1.5% return. Thats a serious improvement in risk management. I finally really understand the necessity of risk management to preserve capital and that no single trade is worth losing more than a very small percentage of your trading capital. Someone told me that a long time ago but some of us are "hands on" learners and require repetition
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account: 1st June $1220 - 31st june $1583
Ok I didnt get last months losses back but still an exceptional result. A very good month, not so much the result but the way I got it - lots of trading but low risk, no big drawdown. Thanks Zu si fu for the encouragement when I was down. I dont think I will get to many more 30% months as that was a little too time consuming but I am confident the worst of my trading mistakes are now finally behind me. The highlight of the month for me was taking a long on EUR/USD a few minutes after the F.O.M.C release while price was going against me. I then read the statement and was able to quickly determine my position was correct. Price then made the expected recovery. Evidence that I have learnt something despite my blunders that often suggest otherwise
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well not quite but thats all the time I had to get out of the trade and I didnt cut it. my account is toast! so much for my last post. I took a long on EUR/USD after nfp. my initial position size was to high as it was pre set for my scalping trades and I forgot change it. I then added to my losing postion all the way down until I could add no more and had suffered huge losses. I read the report and there was nothing dollar positve and plenty dollar negative. I thought traders were going the wrong way. It happened so quick. Less than 24 hrs later my account was liquidated at the low of the move. I was doing so well. I am very disappointed in myself for allowing this to happen - again.
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after 4 months of demo trading I finally went live again with $680 AUD in November. I have traded 6 demo accounts including hotspot, alpari, fxcm and I.G markets. all accounts traded very profitably averaging a ridiculous 10% return per week. It was hard to trade demo after being live for so long. It took patience and discipline and that was the purpose of the exercise. However, after the live trading break, I found i was in no hurry to resume live trading. All other areas of my life had improved, Im over my losses now and I am legendary demo trader. I was happier! Anyway, i decided that i had to continue my journey to successful LIVE trading. I pulled up the deposit form and there was the record of my last deposit, which was now gone. I was scared, the last thing i want to do is lose more money but, hadnt i improved my strategies and risk management during the last 4 months of practice? whats the point of so much time and effort to develop your own strategies if they are never going to be used? Click, im back in bed with my sexy darling. For better or worse, the opportunity to get out had passed
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I have to admit I haven't read through all of your posts and responses but I sense your priority in returning each time to the trading arena, besides to get better, is to win back the money lost.

Forget about the previous results. As they say in sports - athletes need to have a short memory. If they lose today, they will get the opponent the next day. But they don't try to win the previous game that has already been played.

The account balance you have now is what you have to work with. Trade with what you have and build it with proper money managment and continue to learn more and the day may come when all the previous losses will be made up and then some.

Trading properly is the name of the game, not just how much you win or lose. When that is done you get more winners than losers and money takes care of itself.
Quoting M.A.C.Doug
after 4 months of demo trading I finally went live again with $680 AUD in November. I have traded 6 demo accounts including hotspot, alpari, fxcm and I.G markets. all accounts traded very profitably averaging a ridiculous 10% return per week. It was hard to trade demo after being live for so long. It took patience and discipline and that was the purpose of the exercise. However, after the live trading break, I found i was in no hurry to resume live trading. All other areas of my life had improved, Im over my losses now and I...
Kudos. I guess that's what every trader needs, be constant is what will make you better tomorrow. I certainly see the point on being disciplined because based on your previous experience (winning and failing) you get to develop a gut instinct, really helpful managing risk.
Quoting SunTrader

Forget about the previous results. As they say in sports - athletes need to have a short memory. If they lose today, they will get the opponent the next day. But they don't try to win the previous game that has already been played.
Thanks SunTrader, you are correct, the majority of my losses were as a result of chasing the previous ones. Thanks for the tip, I like the athlete analogy. I believe I have now moved on to fresh start but I will take it on board as a handy reminder.
Quote
Kudos. I guess that's what every trader needs, be constant is what will make you better tomorrow. I certainly see the point on being disciplined because based on your previous experience (winning and failing) you get to develop a gut instinct, really helpful managing risk.
Thanks for the encouraging comment HDSN. I get your meaning but just wanted to add that only the present moment exists - be aware and grateful now and always. trading for a "better" tomorrow will cause you to be absent NOW and cannot succeed. Sorry for sounding like a new age, pop psych wanker, but trading for me has become the most profoundly philosophical if not spiritual experience I have ever undertaken - who knew?
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Quoting M.A.C.Doug
Thanks SunTrader, you are correct, the majority of my losses were as a result of chasing the previous ones. Thanks for the tip, I like the athlete analogy. I believe I have now moved on to fresh start but I will take it on board as a handy reminder.


I only know because I have done the same myself.

We learn more from our mistakes and I give your big credit for talking in public about yours.

Good trading.
november 2008 is the first month of my fourth year of live trading. I was hoping to finish my third year profitably after my previous two years of losing, but that was not to be. Risk was greater than ideal due to my starting balance. I was nervous and traded 20+ round turns per day in an intense and stressful frenzy. I calmed down by the third week, settling in to the 2 or 3 selections per session I am trading now. It was relief to finish the month so well but I was also lucky, the market was kind to my trading style this month and let me get away with what was a pretty nervous and shaky start. Here is the final days statement for the month and although I lost on this particular day, the account finished at $1053. A 54% return on my starting capital. I am adding some more funds to the account for december to lower my account risk per trade to 1 - 2 % instead of th 5 - 10% i was using this month. I intend to start posting a few charts of my trades and calls like I used to back in the old days
Attached File
File Type: pdf statements.pdf   16 KB | 183 downloads
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Happy New Year everyone
I am on holiday atm so plenty of time for trading and chatting in FF
Jan 1 2009 account balance $858 - I took some losses last month but what the heck, that was last year and I am still up from my starting balance

my new years resolution is:

I will protect my capital by managing risk.

I hope I can keep that resolution. With such a small account the temptation to gamble for larger returns is ever present despite all the losses I have suffered doing just that. I am determined to finish this, my 4th year live trading, profitably. I think I will add:

I will exercise patience with my equity growth and gratitude for my returns



ok a new year, a new broker, new charts, a new pair (I trade EUR/USD almost exclusively these days) and some new techniques learned at Forex Factory (most notable - DIBS)
Today was NFP
I had 40 pips in hand scalping the consolidation during the asian and london session prior to the release. Price action was unusually tradeable after the release also. Price tried to move up and looked good. I scalped about 20 pips long after price pulled back a couple of times. The third third attempt failed and price broke south and I lost my pips. I am not big on break out trades (excepting inside bars) but i wanted in on the short move. I used this stochastic signal to enter and the pivot range for a good risk reward target and got my lost pips back plus some
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Here is an example of a trendline break I saw on the daily EUR/USD chart on the 11 of jan this year and then a close up of the next days price action on the 15 minute chart. The confluence of the backside of the trendline and the daily central pivot acting as resistence was too much for the panic stricken bulls. They knew they had to hold that trendline but failed on four attempts to reclaim it. This set up some very tradable price action on the day and the continuation down to todays level. Top down analysis and s/r confluence is all you've got imho
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Got very much interested in the above and downloaded it onto MT4 charts. They look very much better than most other systems. Are you or anyone using these template and indicators? and if so with what results? Also if used please send me the latest version.
Many thanks
Quoting nickyone
Got very much interested in the above and downloaded it onto MT4 charts. They look very much better than most other systems. Are you or anyone using these template and indicators? and if so with what results? Also if used please send me the latest version.
Many thanks
Head on over to the sexy stoch thread, the new guys there are doing some good work atm and you'll pick it up pretty quick from them.

Demoing an mt4 broker - I really like the MT4 statements. All the stats give you an exact picture of how you are performing brilliant!
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I was rained off from work so I spent over 14 hours watching the market yesterday hoping to catch the consolidation breakout. I was very patient and only took two short positions all day. The moves turned out to be fakeouts and I couldnt stay awake any longer so I go to bed with two losers and what happens as soon as I have finished for the day? the breakout and a nice uptrend - thats trading but I would still rather do that than my day job.
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I just took this signal today when I got home from work (yesterday I was rained off). I was a little late but I liked the look of the way price broke the R1 pivot. Heres hoping this uptrend has still got some legs. Im going to hit the couch

EDIT: A winner - less than 1 hour trading - thats a bit more like it
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