My way to highway | Page 44 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Make Money Trading Forex? This way, or the highway 29 replies

Hard Way, Easy Way 115 replies

2 Way VS 1 Way Analysis 9 replies

Highway Method 11 replies

Highway to Hell 60 replies

Attachments: My way to highway
Exit Attachments

My way to highway

  • #861
  • Jun 18, 2018 6:58am Jun 18, 2018 6:58am
Hi profit farmer,

My first post in forex factory. I not so familiar with
Forum thing... There seem to be so much to read.
However, I caught your thread and there was some
Similar in the way I trade.
Does this drawdown occur on one of your scalp approach
Or the position approach.? Before conclude anything,
I hope you post the whole trade leading to that. It happen to me before... I like to learn from that and your pathforward prevention.

Trying to learn it.

Thanks.
  • #862
  • Jun 18, 2018 7:15am Jun 18, 2018 7:15am
Quoting profitfarmer
{quote} there will be another trade
Hi PF,

sorry to hear what happened but the truth is that we've all been there. The only difference is between who surrenders and who will never give up. I'm not talking about crazy gamblers who blow an account after the other, doing pure betting against the market. What you trade here and above all how you do it is sound and solid, nevertheless, as Mark Douglas teaches to all of us, anything can happen in the markets. And sometimes it does happen.

I'm sure you'll come up out of this stronger than before.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #863
  • Jun 18, 2018 7:25am Jun 18, 2018 7:25am
Quoting profitfarmer
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,...
You know, markets are like dream reality in a sense that they brutally show who you truly are. For example, when you are chased by a monster in your dream, the way you react is not rational. There is no thought process involved, no pretending, no hiding behind a role we play in a day to day life. there is only your reaction representing who you are at the core. you either go into fear in a form of fight or flight reaction or you go into courage in a form of going int conscious interaction with the reality that is facing you.
in the same way, market shows us who we are by how we react in times of adversity.
in my opinion, your reaction is only to be applaud for. you show signs of honesty, ability to learn from it, of getting better and of moving forward. not many people are in this way.
so i thank you for beeing like that. youve got my full support. and regardless of whats going to happen next with your trading, your son is lucky to have a father like that! there are more important things than FX, right? sometimes its good to take a step back and put things in perspective

good luck!
and looking forward for your next posts
keep on sailing
  • #864
  • Jun 18, 2018 7:50am Jun 18, 2018 7:50am
Attached Image
Self discipline It is a practice
  • #865
  • Jun 18, 2018 8:16am Jun 18, 2018 8:16am
wowowww!

a sudden huge interest, and flood of posts.

in a way good, in a way i would like to keep the thread still on topic.

i have asked some patience, and some cant give me a bit of time.
also some hugely misunderstood probably both the thread, and the current event.

guys, i have made a mistake. there was no denial about that.
also, there was no hiding that.
and finally there was a promise that i will go point by point over the things as they are, and where they are heading next.

hindsight charts not helping, especially since i didnt post mine, but the principles are clear from the past, and i was in and out multiple times part of the trades for one, and for two, it was not only EurUsd but also EurAud positions involved. As such sometimes the 2 interfered with each, and a total position was managed for part. (actually the EA trades worked out somewhat better in the end).

i feel i was opened about EVERYTHING from the beginning of the thread, and i feel i created a JOURNAL here that is and was pretty straightforward on any and everything involving my trading.

i have not asked for sympathy, or to feel bad about me, nor donations or such. ( i appreciate the comments wishing well of course, like everyone would, and what 'friends' usually do feel to offer in hard times to their 'friend'; just way of normal life).
but
i also havent asked for this:

"If you need an ego boost, try do it right.
You are such a negative loser. You deserved what happened to you."

FFS, i AM TRYING to make it right, by sharing the full implications of the loss, and the aftermath.
it takes time to sort out everything the way i would like the journal to stay.
i was mentioning the 1 year anniversary of the journal, and that i want to be ready about that time with all things, and that is still few days away...

never ever disliked a single post, and only once, temporarily banned 1 member from posting here, when continuously was going off topics.
as for the disliked post, i was perhaps vogue and that triggered anger, though i said some reasoning why the dislike: a chart that not really relate and hindsight will likely lead for the wrong direction, away from what i really like to say here.
lets leave it that way for today, i will post part2 tomorrow, as promised.

happy trading!
there is always, always another trade!!
  • #866
  • Jun 18, 2018 8:32am Jun 18, 2018 8:32am
PF, you're the most transparent. low-drawdown, enduring, and most helpful and generous trader that I am fortunate to know on FF!
  • #867
  • Jun 18, 2018 8:34am Jun 18, 2018 8:34am
Quoting Pro.yingYang
Hi profit farmer, My first post in forex factory. I not so familiar with Forum thing... There seem to be so much to read. However, I caught your thread and there was some Similar in the way I trade. Does this drawdown occur on one of your scalp approach Or the position approach.? Before conclude anything, I hope you post the whole trade leading to that. It happen to me before... I like to learn from that and your pathforward prevention. Trying to learn it. Thanks.
this will come up in the next few days, keep an eye on the thread, and thank you for choosing my thread for your first post
there is always, always another trade!!
  • #868
  • Jun 18, 2018 8:35am Jun 18, 2018 8:35am
Quoting dwe213
PF, you're the most transparent. low-drawdown, enduring, and most helpful and generous trader that I am fortunate to know on FF!
um, will talk about that DD aspect too in the next few days
there is always, always another trade!!
  • #869
  • Jun 18, 2018 8:40am Jun 18, 2018 8:40am
Take your time profitfarmer. after a very big loss, when its to decide to start again or do other things, it is a extrem hard time and decission to make and needs some break. i hope you survived with some accounts and enough money to stay in game.
  • #870
  • Jun 18, 2018 11:04am Jun 18, 2018 11:04am
Quoting Catch-22
{quote} 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.
Although all decisions we make are based on our biases you will see that people who make trades on Charts, especially those with massive delays, are getting away from the very dynamics of how the trading workworkss that woupd tend to lead us towards more losses then trying to understand why the market does what it does... The market has her limitations and trading around those limits is how you exploit her weakness. Whereas on the higher tf, everything is possible and when trades go against we cry out manipulation.
Read my shouts to get myfxbook link
  • #871
  • Jun 18, 2018 12:44pm Jun 18, 2018 12:44pm
Quoting IggyMon
{quote} Although all decisions we make are based on our biases you will see that people who make trades on Charts, especially those with massive delays, are getting away from the very dynamics of how the trading workworkss that woupd tend to lead us towards more losses then trying to understand why the market does what it does... The market has her limitations and trading around those limits is how you exploit her weakness. Whereas on the higher tf, everything is possible and when trades go against we cry out manipulation.
glad you visited here today, but some of the posts took an off topic turn away from what i had done here.
lets not make my journal a theory thread with back and forth of opinions on things where i believe there is no conclusive good or bad answer.
many thanks!

happy trading!

PS. part2 is coming tomorrow. GN all!
there is always, always another trade!!
  • #872
  • Jun 18, 2018 2:35pm Jun 18, 2018 2:35pm
Sell Euro at 1.1614
  • #873
  • Jun 18, 2018 2:58pm Jun 18, 2018 2:58pm
Quoting ferndog
Sell Euro at 1.1614
got lost?
there is always, always another trade!!
  • #874
  • Jun 18, 2018 3:51pm Jun 18, 2018 3:51pm
Hi PF,

When I read about the loss and no more public TE, I was thinking that you took maybe a 15%-20% loss in a stay longer for retrace attempt, that didn't worked out. Now seeing the full picture, is quite sad that this happened to you. Hopefully this is the last lesson you had and with a good plan you will be back on track.

It is interesting to know what was the issue, I don't think it was trading related. More important is to let the past and move forward.

Happy trading!
  • #875
  • Jun 18, 2018 4:12pm Jun 18, 2018 4:12pm
Quoting aa4fx
Hi PF, When I read about the loss and no more public TE, I was thinking that you took maybe a 15%-20% loss in a stay longer for retrace attempt, that didn't worked out. Now seeing the full picture, is quite sad that this happened to you. Hopefully this is the last lesson you had and with a good plan you will be back on track. It is interesting to know what was the issue, I don't think it was trading related. More important is to let the past and move forward. Happy trading!
How many days did it last? Was a good effort and at least he had a trade explorer and didn't carry on like some other clowns here.
  • #876
  • Jun 18, 2018 4:40pm Jun 18, 2018 4:40pm
Quoting Pip-Miner
{quote} How many days did it last? Was a good effort and at least he had a trade explorer and didn't carry on like some other clowns here.
It doesn't matter how many days it last!
I don't see the comparison with others/other trading methods/ ... but better let's not poluate the journal with useless things.
  • #877
  • Jun 19, 2018 1:48am Jun 19, 2018 1:48am
Sorry for your loss, Thanks for standing tall, and sharing !
  • #878
  • Jun 19, 2018 2:06am Jun 19, 2018 2:06am
part2

system failure vs humane failure

i think this is one major question most ask or should ask, and the answer is key to going forward.

it was partly answered in part1.
it is clearly NOT a system failure, in anything this event only reinforces the system itself.
but also uncovers one important aspect that is missing on the retail traders arsenal:
WHAT measures can be used AGAINST the HUMANE FAILURE?

yes, it was my fail on an emotional level, that overwrite the racionale i was using on other ( not personal) accounts.
these emotional reactions obviously can be triggered by an event or a bunch of events that lead to a mindset that lead to the action that lead to the failure and that can lead to a blown up account.

no, i dont mean any news event, and i dont mean any chart formation, or such!
the system itself performed as expected.
since partial closes the loss should be limited to about 7% or so.

the important for this entry to understand:
even a good system and good rules cant do much for a willful override from the trader!
and that at retail level there is really no such fail safes for this event.
there is no way that after a SL a trader cant decide to open a new trade.
there is no way that after a certain % equity loss a trader cant decide to open a new trade.
an investor account, or a prop account can be equipped with that power.
the retail trader's own account isnt.
this lack of protection, from self, can lead to a great destruction in the wrong moment!
and one can never know when that wrong moment hit, when the mindset is prone for such thoughts, and when one just stop care for a moment to weight the outcome.

in later parts will expand a little on these thoughts above.

for those who still reading:
the JOURNAL as a whole still stand all valid, as valid as ever, with the principles in it, in regards to entry philosophy, in regards of equity SL, the thoughts on prop trading, etc.
One ( however devastating) trader emotional error does not change what it is written in the past one year here!!
those who found motivation from the journal dont have to look for another way, just try to incorporate this final piece of the puzzle as i will be getting to the end of the story gradually.
so when ( and likely not if!) your moment of weakness comes you wont commit the same fatal mistake i had, and be able to win over your emotions.
and live to trade another day on the same account! without equity there is no trading!!

happy trading!

ps. part3 is coming tomorrow. lot to digest and think over too. it isnt an easy reading, but i am sure many of you understand. after all no one is reading a journal thread in search for a holy grail system, but to relate to some real life story of real life traders.
there is always, always another trade!!
  • #879
  • Jun 19, 2018 3:53am Jun 19, 2018 3:53am
Good post. I have went through your road and still haven't found the answer yet. I hope that day never come again.

But nevertheless, it "might" happen again. There are some scripts that limit/lock your account after a certain drawdown. Basically, it locks your account and won't let you open another trade for the day. You should password lock it or call the script from another vps that is unaccessible so that you won't be tempted/unable to unlock it and trade again. I didn't use it because i am not expert-advisor-wise. You should give it a try since i figure you are already using an EA for long time.

Another solution is to empower your mind. The psychology factor but that is not proven yet. Meditation, breath techniques etc... I am more prone to this method and am kinda practicing it throughout daily life.
  • #880
  • Jun 19, 2018 4:04am Jun 19, 2018 4:04am
Quoting CrocodileRex
Good post. I have went through your road and still haven't found the answer yet. I hope that day never come again. But nevertheless, it "might" happen again. There are some scripts that limit/lock your account after a certain drawdown. Basically, it locks your account and won't let you open another trade for the day. You should password lock it or call the script from another vps that is unaccessible so that you won't be tempted/unable to unlock it and trade again. I didn't use it because i am not expert-advisor-wise. You should give it a try since...
hi CR,

i am with zero coding knowledge. but yes, one thing going forward from next month will be to try to devise a fail proof way to keep me, the trader out of the game, IF and/or WHEN my willpower to obey my own sensible money management principle fails.
you see, i have already succeeded well not to gamble with someone else's money, and not for a moment was tempted to jeopardise other's account.

itself, as part2 said, the equity SL principle does work out just fine, and can divert any main fail from the nature of my trading is a reaction after a news/event, thus never truly hit by the full extent of the move, that helps to orderly enough to exit open positions, without risking a huge gap on it, or very high slippage.

for one, the past 15 months of live TE should be a shining proof for that.
just as well the blow up to the fact that there is still that final piece of the missing puzzle: protect the trader from his demons!

happy trading!
there is always, always another trade!!
0 traders viewing now