Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-299
- #605
- Edited Apr 26, 2018 1:08am Apr 25, 2018 4:53am | Edited Apr 26, 2018 1:08am
- | Joined Jan 2015 | Status: Trader | 3,404 Posts
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- #612
- May 4, 2018 9:07pm May 4, 2018 9:07pm
- | Joined Jan 2015 | Status: Trader | 3,404 Posts
It's been 6 months since I started this journal and consistency seems as far off as it did.
This coming Oct I'll mark my 4th year out of which the last 3 years were intense studies day in and day out in front of the screen. To compare how I used to perform on DAX a year ago I have come afar but consistency it's still a work in progress and frankly speaking I don't think it'll ever be done and I think it's about time that I have to come to terms with that - constant learning and not treat this business as a money generating ATM because it simply is not.
As embarrassing as it may be to admit that I have spent the good half of my time on finding the HG , combination of few indicators and memorizing few sets of patterns I guess this is a process we all go through whether we like it or not but finding out later on through trial and error that successful trading is an art in itself that no set of indicator or few set of memorized patterns can be sustainable in the long run was a big letdown initially.
It took me this many years to come to terms with the fact that maybe if I were wiser and smarter I would be at a much advanced level than where I am now. But what's done is done and I simply can't reverse the past but to move forward and progress. Yes progress, my progress have been stagnant for so many years part of the reason I think now looking back is me going after the wrong thing looking for HG because it doesn't exist!! but it also may have been slow because to learn something new it takes time, and even more to truly understand and make sense.
But it's also good to remember that there're many ways people make money in this business as much as it's all about learning the truth - true face of Market "quote" by Jupiter it's also about finding what suits you and what works for you. I don't think you can as a just starting out new trader can easily pick and choose without going trough the "process" I mean how do you know what you like if you haven't tried it once ? it's also a matter of preference.
As for me, after trying out everything I think I'm coming down to one thing .... the truth. I want the "truth" I want to feel the flow <correction, uptrend, downtrend , correction, test retest and failure> I no longer want to buy the falling knife and sell the rising falcon 9
or against the tide I've done it all and it's good that I haven't lost my shirt over these lunatic actions !
So going forward in my journey consistency I will be consistent in my approach while expanding my horizons by horizons I mean learning to read more of the dynamics of the flow. For now though I am making sense of levels (finally!) S&R, HH HL uptrend LH correction, LH LL downtrend etc... there's so much more to learn that I wish markets never took a day off because I want to practice more and yet lol I call it a day usually early because I get tired easily just watching with intense focus,, yes day trading requires intense focus and I'm starting to think if I've got what it takes ?
I have decided to do this, the more I understand the dynamics of movements the more I'm admiring the elegance of price movement yes I'm too deep in the mud there's no goin back from here. I need to accelerate my progress and at the same I also need to do the right thing !!
As for DAX I'll still trade it for 4 hours a day from Frankfurt through London because it taught me so much and to accelerate my process I need to keep trading and watching price flow , I'm also thinking about going back to daily and looking at majors and euro and pound crosses I just think that daily will balance out 5m trading on DAX, with DAX I learn more because it's 5m on daily I get to do the right thing because it'll give me enough time to read the price and decide.
This coming Oct I'll mark my 4th year out of which the last 3 years were intense studies day in and day out in front of the screen. To compare how I used to perform on DAX a year ago I have come afar but consistency it's still a work in progress and frankly speaking I don't think it'll ever be done and I think it's about time that I have to come to terms with that - constant learning and not treat this business as a money generating ATM because it simply is not.
As embarrassing as it may be to admit that I have spent the good half of my time on finding the HG , combination of few indicators and memorizing few sets of patterns I guess this is a process we all go through whether we like it or not but finding out later on through trial and error that successful trading is an art in itself that no set of indicator or few set of memorized patterns can be sustainable in the long run was a big letdown initially.
It took me this many years to come to terms with the fact that maybe if I were wiser and smarter I would be at a much advanced level than where I am now. But what's done is done and I simply can't reverse the past but to move forward and progress. Yes progress, my progress have been stagnant for so many years part of the reason I think now looking back is me going after the wrong thing looking for HG because it doesn't exist!! but it also may have been slow because to learn something new it takes time, and even more to truly understand and make sense.
But it's also good to remember that there're many ways people make money in this business as much as it's all about learning the truth - true face of Market "quote" by Jupiter it's also about finding what suits you and what works for you. I don't think you can as a just starting out new trader can easily pick and choose without going trough the "process" I mean how do you know what you like if you haven't tried it once ? it's also a matter of preference.
As for me, after trying out everything I think I'm coming down to one thing .... the truth. I want the "truth" I want to feel the flow <correction, uptrend, downtrend , correction, test retest and failure> I no longer want to buy the falling knife and sell the rising falcon 9
or against the tide I've done it all and it's good that I haven't lost my shirt over these lunatic actions ! So going forward in my journey consistency I will be consistent in my approach while expanding my horizons by horizons I mean learning to read more of the dynamics of the flow. For now though I am making sense of levels (finally!) S&R, HH HL uptrend LH correction, LH LL downtrend etc... there's so much more to learn that I wish markets never took a day off because I want to practice more and yet lol I call it a day usually early because I get tired easily just watching with intense focus,, yes day trading requires intense focus and I'm starting to think if I've got what it takes ?
I have decided to do this, the more I understand the dynamics of movements the more I'm admiring the elegance of price movement yes I'm too deep in the mud there's no goin back from here. I need to accelerate my progress and at the same I also need to do the right thing !!
As for DAX I'll still trade it for 4 hours a day from Frankfurt through London because it taught me so much and to accelerate my process I need to keep trading and watching price flow , I'm also thinking about going back to daily and looking at majors and euro and pound crosses I just think that daily will balance out 5m trading on DAX, with DAX I learn more because it's 5m on daily I get to do the right thing because it'll give me enough time to read the price and decide.
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- #614
- Edited 10:29pm May 4, 2018 10:16pm | Edited 10:29pm
- | Joined Jan 2015 | Status: Trader | 3,404 Posts
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- #615
- Edited 5:36am May 5, 2018 2:52am | Edited 5:36am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Hi Piquant,
I like the honesty of your post 612, it's so rare to find people in this forum just capable of admitting they are wrong and that they need to learn more, anyway...
I have been through the same path, except that mine lasts since 16 years and I'm still here. I don't count the books I have read, the EA's and indicators I've written, the number of accounts blown, fortunately always small because I knew that they were going to be blown sooner or later anyway.
I've even switched off trading for several months but you know, with that frustration feeling, that something was not accomplished. I came back from time to time when finding new trading ideas with some new fancy indicator just to see the same thing again and again, my account going to zero except that those times where different for me as I wasn't putting anymore my emotions in the trades, I was just trying something new, I almost knew from the start that it wasn't going to work but that I had to give it a try anyway before moving to the next idea. This period lasted several years, trading was a hobby for me, I was trading for fun, just putting one hundred bucks at the beginning of the month and play like in the casino, when the 100 bucks were burned I just had to wait the next month.
And then, there was the day, like you say, when you see the truth, that's why I wanted to answer here, after so many years, I don't know how, I went back to trend following and it inspired me to start from scratch but this time with nothing on the chart except the price itself and me in front of it figuring out how I could catch a trend and ride it.
Finally I got something valuable and so simple that I just couldn't believe that it could work but in simulation it was working and working well. So, I funded again my account to see if a real account, even tiny, would do as well. It has been only one month since then with good results and of course that proves nothing. But in my inner self, I know that I'm onto something different this time and that changes everything.
I don't know if you saw Matrix and the moment Neo sees through the walls, he sees the Matrix painting the wall and all the things there, he sees the truth, I know it's all science fiction, but I'm at that exact moment, seeing the truth and recognizing that what I have in front of me is this time different from all my past experiences even if I still don't believe in it.
This is just to encourage you, it's just a matter of time until you also see the light, for sure you will, and to add something concrete to the fun story, here are two things that inspired and helped me a lot:
1. https://www.turtletrader.com, read their story, it's inspiring...
2. https://www.tradingview.com, they have a tool called bar replay that you can use any time to practice your trading. This has been gold for me and it's free !
Good Luck in your journey
I like the honesty of your post 612, it's so rare to find people in this forum just capable of admitting they are wrong and that they need to learn more, anyway...
I have been through the same path, except that mine lasts since 16 years and I'm still here. I don't count the books I have read, the EA's and indicators I've written, the number of accounts blown, fortunately always small because I knew that they were going to be blown sooner or later anyway.
I've even switched off trading for several months but you know, with that frustration feeling, that something was not accomplished. I came back from time to time when finding new trading ideas with some new fancy indicator just to see the same thing again and again, my account going to zero except that those times where different for me as I wasn't putting anymore my emotions in the trades, I was just trying something new, I almost knew from the start that it wasn't going to work but that I had to give it a try anyway before moving to the next idea. This period lasted several years, trading was a hobby for me, I was trading for fun, just putting one hundred bucks at the beginning of the month and play like in the casino, when the 100 bucks were burned I just had to wait the next month.
And then, there was the day, like you say, when you see the truth, that's why I wanted to answer here, after so many years, I don't know how, I went back to trend following and it inspired me to start from scratch but this time with nothing on the chart except the price itself and me in front of it figuring out how I could catch a trend and ride it.
Finally I got something valuable and so simple that I just couldn't believe that it could work but in simulation it was working and working well. So, I funded again my account to see if a real account, even tiny, would do as well. It has been only one month since then with good results and of course that proves nothing. But in my inner self, I know that I'm onto something different this time and that changes everything.
I don't know if you saw Matrix and the moment Neo sees through the walls, he sees the Matrix painting the wall and all the things there, he sees the truth, I know it's all science fiction, but I'm at that exact moment, seeing the truth and recognizing that what I have in front of me is this time different from all my past experiences even if I still don't believe in it.
This is just to encourage you, it's just a matter of time until you also see the light, for sure you will, and to add something concrete to the fun story, here are two things that inspired and helped me a lot:
1. https://www.turtletrader.com, read their story, it's inspiring...
2. https://www.tradingview.com, they have a tool called bar replay that you can use any time to practice your trading. This has been gold for me and it's free !
Good Luck in your journey
Simplicity is the Ultimate Sophistication.
- #616
- May 5, 2018 6:08am May 5, 2018 6:08am
- | Joined Jan 2015 | Status: Trader | 3,404 Posts
I have been through the same path
I've had my fair share of "aha" moments where I was convinced that I had discovered the HG only to find out later on that the HG works until it doesn't ! it doesn't seem so strange now looking back because all of them were indicator or pattern based where I was using them to "predict" future price movement like you I can't even count the times where I changed trains hoping to arrive at " final the destination" or the "Shangri La".
I maybe coming closer to the truth but ironically I've never felt this unsure and this uncertain because I've gone through so many of those aha moments only to learn that they were just few lucky runs and are not sustainable in the long run so doubt remains persistent I'm not going to lie I sometimes wish I didn't discover trading at all but as I said the more learn and see the glimpses of the truth I'm beginning to "love" the art of trading price movement I can't say I loved trading when I was starting but I sure loved the idea of making my way to the millions
now I can't care less about the millions I just want to dance the dance !!!I must applaud you ! for staying in the game for more than a decade !! wow you are persistent but persistence and a will to improve are an essential ingredient to excel at anything I've read the first link, beautiful post <deliberate practice is the gift> how true that is, I also want to add the 10000hours rule <Malcolm, The Outliers> you certainly have done your 10000hours! I'm reaching only half of that so I need to accelerate the process more deliberate practice more hours spent watching price move.
I'll be following your journal as well, I liked your charts !
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