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Your and My Lessons Learned Losing and Gaining in Trading

  • Post #1
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  • First Post: Feb 26, 2018 5:25pm Feb 26, 2018 5:25pm
  •  corrman
  • | Joined Oct 2016 | Status: I UN-QUIT Trading again... | 407 Posts
There's a lot of topics regarding if trading can be profitable, or full-time, or if it's all just a scam or manipulated, blah blah blah.

Of course some traders lose, some gain, (I'm not using word, 'win.') and hopefully more gains than losses, but that's over a short period of time.

Then there's the psych and emotion thing and how to deal with it. Another ton of opinions exist on this topic also because there is extensive variation in each trader's psych, emo, attitude, ego, trauma, unhealed stuff, etc., etc., etc.

"Let's not argue about who killed who..." Let's get back to the party and find the good stuff. There's a lot of folks posting about theoretical trading belief and you can't argue belief. I like chocolate, no, chocolate sucks, it's vanilla for me, you jerk. Really? How much text can be used up on that? We can power a small town with the furious fingers typing out replies to flames and trolls if we captured that energy. And then there's the thread dictators, my way or the highway, I'll ban you and then also boast about how many I banned and how much of a jerk you are for daring to post in my thread. Ok, that seems a little less than helpful, but I guess if you get off on that, then it at least helps you, dude.

What I don't see much of is traders saying, I lost on this trade, I got stopped out here because of..., and I learned this lesson, and this specific technique worked for me or it's a good part of a method but I screwed it up because..., stuff that you 'are' entering into your daily trading journal that I know you all have and are diligently maintaining and reviewing to remember your lessons.

If you publicly expose your failings, mess ups, and lessons, it just might cause you to focus a bit more on them. Why? Because that's what I do, I put it out there and think, man, I look like crap admitting to that. But it sticks in my consciousness and I definitely remember the fact that, on that particular mess up, I posted that lesson and it burns in that memory, which may help me. The key word here is 'help.' I just don't see much effort going into helpful posts, yes there are many, and I don't mean methods and lines, and theoretical fibbs and level predictions and endless charts that have arrows all over the place, that's fine, but it's not a mistake or a booyah awesomely traded plan with goals either achieved or destroyed due to a trader's performance or lack of discipline to their plan, which is the part I think is most helpful. What did you do, how did you do it, can you be consistent at it, this is the good stuff I do see some of and when I see it, I go, "Wow!" That's awesome and really helpful.

You know who you few are who do this so if you can pop a copy of it in here or link to it, I don't need this thread to be the sole place you post it into, or if you see someone who did post this kind of helpful post, pop a link in here to point us to it. I could care less if this gets 3 posts in 5 years, but the lessons that do exist in various parts of FF are gold. Let's find them, or put em in here if ya got em. I know I have a few. Stay calm carry on posting and good trading.
big money makes big moves and then hides during small money chasing.
  • Post #2
  • Quote
  • Feb 26, 2018 5:42pm Feb 26, 2018 5:42pm
  •  corrman
  • | Joined Oct 2016 | Status: I UN-QUIT Trading again... | 407 Posts
Ok, I'll go first. I noticed this guy, who I don't know and I haven't communicated with before, but it reminded me of what I would do, post the facts of the trade and stuff.

https://www.forexfactory.com/showthr...3#post10818013

This is a good example of a trade and they guy actually says that he stopped out on his final 1/3rd at BE after it was waaaay ahead. That's the honesty and potential lesson I'm talking about here. No boasting about his method, no endless predicting with arrows (typically in BOTH directions...)
big money makes big moves and then hides during small money chasing.
 
 
  • Post #3
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  • Feb 26, 2018 6:04pm Feb 26, 2018 6:04pm
  •  genghistar
  • Joined Mar 2012 | Status: Servant of wealth | 1,191 Posts
Pls excuse my liberty... do you believe me when I tell you that you and most of them here don't yet know what really work and what really don't work. Why I said this is simply that if one really knows what works, once if realised a mistake he will go on to profit from the next and subsequent trade by not repeating that mistake. Once you get to this stage of knowing what it's really required to profit from a trade or not then the journey to financial freedom will start to roll forward. If not it's always 2 steps forward and 3steps backward. Please disregard my sharing if you feel slighted by my forthrightness.

Cheers
GS
 
 
  • Post #4
  • Quote
  • Feb 26, 2018 6:17pm Feb 26, 2018 6:17pm
  •  corrman
  • | Joined Oct 2016 | Status: I UN-QUIT Trading again... | 407 Posts
Quoting genghistar
Disliked
Pls excuse my liberty... do you believe me when I tell you that you and most of them here don't yet know what really work and what really don't work. Why I said this is simply that if one really knows what works, once if realised a mistake he will go on to profit from the next and subsequent trade by not repeating that mistake. Once you get to this stage of knowing what it's really required to profit from a trade or not then the journey to financial freedom will start to roll forward. If not it's always 2 steps forward and 3steps backward. Please...
Ignored
Yes, one must realize the sequence of events leading to the mistake, then document them to help analyze the process to understand it. Then review the notes and analysis and then somehow remember the lesson. I'm not so great that I can just move on without this process. I've definitely repeated mistakes and I really don't like it. But I've also noticed that if I have posted it in a forum such as this, and there are others, well, it then causes me to make even better sense of the description of the process so that others can understand it and that causes even more time and effort into the cause and then posting it has the effect of me double, triple, quadruple, quintuple checking it for errors, omissions, sense making, and if I really should post such a thing and it burns it into my memory, and I think that it helps me to focus so much additional energy on the process that I remember better to not do that. Yes, I definitely do bounce back quickly, especially lately from my errors, omissions, poor technical analysis, and I improve a lot. That's pretty much sums up the point of me starting this little thread. I do see the light at the end of the tunnel of financial uncertainty.
big money makes big moves and then hides during small money chasing.
 
 
  • Post #5
  • Quote
  • Feb 26, 2018 8:21pm Feb 26, 2018 8:21pm
  •  ForeverNewb
  • | Joined Aug 2016 | Status: Member | 442 Posts
There are a few that are honestly saying when they loose. For ex, have a look at
Mr. Pip on the thread https://www.forexfactory.com/showthread.php?t=402253

Few months ago I watched a video from one of his "session" and it was just losses after losses, yet still applying the rules etc
It was a revelation from me to see how a very successful trader acts during a losing streak... from there went on watching some more "sessions" videos on youtube (not necessarily from Mr. pip) ... helped me a lot on the soft side of trading...
 
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  • Post #6
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  • Last Post: Edited at 9:51am Feb 27, 2018 9:41am | Edited at 9:51am
  •  marcmarc
  • Joined Feb 2010 | Status: Retired from the fray | 231 Posts
Quoting corrman
Disliked
There's a lot of topics regarding if trading can be profitable, or full-time, or if it's all just a scam or manipulated, blah blah blah. Of course some traders lose, some gain, (I'm not using word, 'win.') and hopefully more gains than losses, but that's over a short period of time. Then there's the psych and emotion thing and how to deal with it. Another ton of opinions exist on this topic also because there is extensive variation in each trader's psych, emo, attitude, ego, trauma, unhealed stuff, etc., etc., etc. "Let's not argue about who killed...
Ignored
Hi Corrman,
A really nice idea and so I feel I ought to try contribute. I have been trading OK intraday for several years but decided last Xmas time I'd start an experimental thread to try to implement my ideas there on a daily chart timescale, and posting the whole experience as it happens on a journal thread. I've also been commenting more generally on my parallel daytrading as I go along.

Quite frankly, I've been surprised how difficult I've been finding the daily chart trading, certainly compared to my daytrading which is chugging along nicely YTD. I am a complete newbie on the daily scale, I have only ever traded forex intraday, and it has given me renewed compassion for novice traders starting out.

Rather than posting here, all are welcome to drop by my journal and see me admit daily to my struggles and failings, it is all real trading on a real account. It's nothing I lose ego over, it's just a learning curve and I'm happy to share, warts and all.
 
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