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My way to highway

OK.
back from a birthday with my son, he was turning 16 on Friday.
of course it was hard to put on a happy face, lots of thinking the past few days.
i had learnt some very important lessons, made some decisions with the going forward, and in the coming few posts i will like to share some of these, and sort of wrap up the thread as it is coming to its 1 yr anniversary.

as always, with things, it will reflect my takes, opinion and action, but it will be the truth as i live it, just like the rest of the thread was, from the beginning.
stay tuned, between the next few post there will be the answer about what happened, and what to come.

happy weekend!
there is always, always another trade!!
Quoting profitfarmer
OK. back from a birthday with my son, he was turning 16 on Friday. of course it was hard to put on a happy face, lots of thinking the past few days. i had learnt some very important lessons, made some decisions with the going forward, and in the coming few posts i will like to share some of these, and sort of wrap up the thread as it is coming to its 1 yr anniversary. as always, with things, it will reflect my takes, opinion and action, but it will be the truth as i live it, just like the rest of the thread was, from the beginning. stay tuned, between...
Good Occasion Man and a great milestone for the kid...

Hope you had a blast as the proud father...
hey PF , remember your own MOTTO

there is always, always another trade!!
Quoting MXT
hey PF , remember your own MOTTO there is always, always another trade!!
there will be another trade
there is always, always another trade!!
part1.

first and foremost, is to get clear on a few things that matter most:

1. I did blow up my flagship account(s).

2. also, the same time i would like to make another thing clear: the other ( not personal) accounts didnt get blown up, they were all closed at the agreed ( various) max DD% point!

3. and finally, due the max monthly DD% restrictions on Axi/Psy prop deal, i am out from that arrangement as of now.

one may wonder what is to talk about then, one may wonder why this has happened, some never cared to have an interest now showing some, others stopped showing interest because of this event....
well, as promised, and the next few days a series of post will try to answer all, and share my thoughts on the events, where things stand and what next.
i could probably have all written at once, but it would be a lot to write and a lot to take in.

just thought get some major points highlighted, so everyone can decide if still interested or not interested to read the next few posts of mine later.

happy trading!
there is always, always another trade!!
never give up. consider these events the cost of doing business.

live to trade another day
Quoting alphadude
never give up. consider these events the cost of doing business. i have personally blown up accounts more than once years ago. I learned from it and carried on. live to trade another day
will get to the point when some of these issues will be addressed and answered
but i need time to write those, maybe at the speed of 1 post a time.
also, i think those who genuinely followed this thread, will in turn need time to digest all the points, so they can take the most out of this journal, as a whole.
there is always, always another trade!!
Quoting profitfarmer
{quote} so they can take the most out of this journal, as a whole.
I respect your attitude PF! despite the emotional and mental stress of experiencing a blown up acc in public your openness and willingness to share your experience with others deserves an applaud.

Like some have said we are here to support, learn and grow
...
Quoting samuel2133
Never give up. I know you won't. But, you are to blame as I am to blame when something like that happens to me. I don't trade EU, but unless we meet a strong support (H4 or daily) I don't counter trade this. Emergency case is that you set a maximum daily or per trade loss. Price was almost at the horizontal, not doing much. What will happen next? Usually it blows up. I bet most of this is due to overconfidence. When it looks obvious, you should stay away. But given your experience, you know that. You know when the trade seems too easy, it is where...
Sam,
i will dislike this post for one reason.
the aftermath is always a clear thing.
i will get to all the points, one by one, in a good time.

to clarify: i never for a minute blamed anything or anyone; the responsibility about my account was always on me; and the rest of the accounts as stated earlier today, were traded as per a pre-agreed parameter, thus didnt suffer a similar outcome.
in that respect i was and remained 100% pro.
the rest of the issues as i said will be point by point discussed, a post a time
there is always, always another trade!!
Quoting samuel2133
Never give up. I know you won't. But, you are to blame as I am to blame when something like that happens to me. I don't trade EU, but unless we meet a strong support (H4 or daily) I don't counter trade this. Emergency case is that you set a maximum daily or per trade loss. Price was almost at the horizontal, not doing much. What will happen next? Usually it blows up. I bet most of this is due to overconfidence. When it looks obvious, you should stay away. But given your experience, you know that. You know when the trade seems too easy, it is where...
very very stupid analyzation.

there was a hard news fact, the chart is so total unimportant when there is coming hard news facts. you can try to see in the chart what you want, but when news coming out anything you did see is useless when news is not in this direction! so , i hope you learned something, because when you really trade like you write here , you will blow many many accounts. at least learn what is a news and what a chart can show and do.
Quoting dukas_trader
{quote} very very stupid analyzation. there was a hard news fact, the chart is so total unimportant when there is coming hard news facts. you can try to see in the chart what you want, but when news coming out anything you did see is useless when news is not in this direction! so , i hope you learned something, because when you really trade like you write here , you will blow many many accounts. at least learn what is a news and what a chart can show and do.
I won't answer. I won't get as low as you. You are known to spit your bitterness all over the place. But hey, you have the thread owner in your side. It must be easy to insult others in this situation. What a low lifer you are.
Quoting dukas_trader
{quote} very very stupid analyzation. there was a hard news fact, the chart is so total unimportant when there is coming hard news facts. you can try to see in the chart what you want, but when news coming out anything you did see is useless when news is not in this direction! so , i hope you learned something, because when you really trade like you write here , you will blow many many accounts. at least learn what is a news and what a chart can show and do.
Now we are getting somewhere. For the simple fsct that current events and/or unexpected news can cause those types of move then why even allow yourself to be up against the clock to begin with? I don't know the OP but i too was in that EU long but over at my thread you can see the tp and sl i gave 30 mins before high impact and the price came 2 pips within sl and quickly spiked up to hit tp and then dropped for hours. My point is that my position was taken on a much smaller range and thw price ping ponged perfectly within it in my favor, but being on the opposite side should say much to what we hold true about investing or even holding longer than 24 hours in forex.
Read my shouts to get myfxbook link
Quoting IggyMon
{quote} Now we are getting somewhere. For the simple fsct that current events and/or unexpected news can cause those types of move then why even allow yourself to be up against the clock to begin with? I don't know the OP but i too was in that EU long but over at my thread you can see the tp and sl i gave 30 mins before high impact and the price came 2 pips within sl and quickly spiked up to hit tp and then dropped for hours. My point is that my position was taken on a much smaller range and thw price ping ponged perfectly within it in my favor,...
i only spoke about the extrem stupid analysation from the samuel2133.
he analysed a super countertrend before the news, but he did not check that this was coming because of the news not because of his stupid chart analysation. thats was his problem, he cant see what happened. thats all. i did not speak about cutting losses when on wrong side, only about what chart analyse can do and what not, what samuel2133 can not know because he is very new, what you can see what he is writing.

you are right about all moneymanagement, cutting losses, getting catched on wrong side,...... but that was not my text context.
Quoting samuel2133
{quote} I won't answer. I won't get as low as you. You are known to spit your bitterness all over the place. But hey, you have the thread owner in your side. It must be easy to insult others in this situation. What a low lifer you are.
no baby. you cant answer because your arguments was this big bullshit, that defending your words is useless, and you know it!
you are really funny to find a stupid reason not to defend your stupid arguments. a little bit irony , not?

at least be honest, then discussing is more easy with you.
Quoting dukas_trader
{quote} no baby. you cant answer because your arguments was this big bullshit, that defending your words is useless, and you know it! you are really funny to find a stupid reason not to defend your stupid arguments. a little bit irony , not?
What I am saying is any type of chart analysis is pretty silly considering that no indicator or chart can predict the color of the next candle. So why a person believes they can see 4hrs into the future is beyond me. My mentor always told me the market is based on now, if it wasn't then it would trade like OTCBB stocks.
Read my shouts to get myfxbook link
Quoting IggyMon
{quote} What I am saying is any type of chart analysis is pretty silly considering that no indicator or chart can predict the color of the next candle. So why a person believes they can see 4hrs into the future is beyond me. My mentor always told me the market is based on now, if it wasn't then it would trade like OTCBB stocks.
ah ok, thats true a little bit.

but you can find percentages what can be happen next, when history repeats (or what needs to be seen that chances are higher that special parts happen). more you cant do with chart analysation. of course in news its total useless, because you dont know the news result before.

so with your words as an example, you can predict the color of the next candle , but only with a percentage, nothing more. thats the simple point many cant understand because they cant live in possibilities. but the color is no help by the way , when you dont know how big the candle will be...... and so on.......
Quoting IggyMon
{quote} .... My mentor always told me the market is based on now, ...
btw; who is your mentor? I hope it's not Putin
Quoting alphadude
{quote} btw; who is your mentor? I hope it's not Putin
Attached Image


He isn't my mentor but my man crush!
Read my shouts to get myfxbook link
Quoting IggyMon
{quote} What I am saying is any type of chart analysis is pretty silly considering that no indicator or chart can predict the color of the next candle. So why a person believes they can see 4hrs into the future is beyond me. My mentor always told me the market is based on now, if it wasn't then it would trade like OTCBB stocks.
There's a difference between trading and analysis, and both are separate activities for sure - we can trade movements as they happen without any real analysis, but it doesn't mean we can't trade our analysis and be successful.

What is generally important is how we deal with open trades anyway, not what we based the entry on.

"The market is based on now" is a great soundbite without much meaning, what is probably more meaningful is that more recent events are more important than less recent events.
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