Hi fti
I have had a few people lately 'pm'ing me about how I trade your way/MO ( as I am sure others have who have been around here for a while now), I tell them all that I have had no personal tuition from you or even exchanged any 'pm's with you, all I have learnt is from what I understand from your thread and my way of trading is just that, my way!, I do not know if it is the same as you or even if it is close (though I hope it is near and that I have actually learnt something). From reading about other peoples trades here I believe we all do it differently and we have to find our own way/style, all that matters is collecting pips as you say and there is more than one way to do that. I try to be honest with them as I do with everyone and state that there is no substitute for putting the hours and effort in, I also try to explain that they need to adjust themselves to the market and the need to trade your account accordingly without taking liberties with overexposure. Then I try to briefly explain how I look at the charts which is difficult to do and will be different from what others do here and how this can as it does for everyone lead me to take bad entries at times as ALL analyse does (there is no holy grail/magic bullet), which is why we/they must have a strategy to deal with this and expect to be in some manageable drawdown at times (again trading according to your account size is a must for self preservation).
I know it is not good for you to post charts while trading, it is hard at the best of times for anyone, may I suggest if it is ok with you that I encourage others to post/show how they make their trading decisions now and again when they feel like it, for the benefit everyone to see how we all trade differently and to show the fact that no one way is right or wrong, so long as you collect some pips constituently and do the best you can with what you have you are on the right track. I do not mind kicking things off with some trades I saved from this morning.
maybe you could comment when you feel it appropriate to do so if a few of us start posting about their trading (if they want to), I am hoping it may take the strain off you a bit trying to post your trades to help others and that we may learn more in the process from you and each other.
Regards
Phil.
I have had a few people lately 'pm'ing me about how I trade your way/MO ( as I am sure others have who have been around here for a while now), I tell them all that I have had no personal tuition from you or even exchanged any 'pm's with you, all I have learnt is from what I understand from your thread and my way of trading is just that, my way!, I do not know if it is the same as you or even if it is close (though I hope it is near and that I have actually learnt something). From reading about other peoples trades here I believe we all do it differently and we have to find our own way/style, all that matters is collecting pips as you say and there is more than one way to do that. I try to be honest with them as I do with everyone and state that there is no substitute for putting the hours and effort in, I also try to explain that they need to adjust themselves to the market and the need to trade your account accordingly without taking liberties with overexposure. Then I try to briefly explain how I look at the charts which is difficult to do and will be different from what others do here and how this can as it does for everyone lead me to take bad entries at times as ALL analyse does (there is no holy grail/magic bullet), which is why we/they must have a strategy to deal with this and expect to be in some manageable drawdown at times (again trading according to your account size is a must for self preservation).
I know it is not good for you to post charts while trading, it is hard at the best of times for anyone, may I suggest if it is ok with you that I encourage others to post/show how they make their trading decisions now and again when they feel like it, for the benefit everyone to see how we all trade differently and to show the fact that no one way is right or wrong, so long as you collect some pips constituently and do the best you can with what you have you are on the right track. I do not mind kicking things off with some trades I saved from this morning.
maybe you could comment when you feel it appropriate to do so if a few of us start posting about their trading (if they want to), I am hoping it may take the strain off you a bit trying to post your trades to help others and that we may learn more in the process from you and each other.
Regards
Phil.
-be careful about what you allow to be put in your mind-