Journal of a Struggling Trader like You - I am pannet1 | Page 12 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Are you a trend trader or a counter-trend trader? 29 replies

Help 4 Struggling Trader 12 replies

The Struggling Forex Trader Strategy! 0 replies

What Kind Of Trader You are & Which Trading Style Suit's You? 0 replies

Are you sure you're a Day Trader? 21 replies

Attachments: Journal of a Struggling Trader like You - I am pannet1
Exit Attachments

Journal of a Struggling Trader like You - I am pannet1

  • #221
  • Edited 4:15pm Jun 26, 2019 3:15pm | Edited 4:15pm
As you know, i started trading live in the local OIL market. i got hit 10% and then 2%. i was only hoping to make 5% a month and ended up with 2.5% in the initial winning month. somehow i am not able to trade well. here the rescue was complete, but the brokerage and small loss when it eventually ended, would by far exceed my win/day. Can you spot the problem please.

Attached Image (click to enlarge)
Click to Enlarge Name: Selection_007.png Size: 65 KB


1) entered into a scout (+1) and went to sleep
2) turned (-3) what looked like we are hitting resistance during london open
3) realized the mistake and added (+2), to become flat. did not have the guts to put +8 as per the usual rescue.
4) booked some profit from overnight (which was non existent and set off by next month future).
5) added (+3 ) immediately as we are trading above pivot near 3).
6) Failure to trade above the top .. became flat with (-2).
  • #222
  • Jun 26, 2019 4:14pm Jun 26, 2019 4:14pm
Quoting pannet1
As you know, i started trading live in the local OIL market. i got hit 10% and then 2%. i was only hoping to make 5% a month and ended up with 2.5% in the initial winning month. somehow i am not able to trade well. here the rescue was complete, but the brokerage and small loss when it eventually ended, would by far exceed my win/day. Can you spot the problem please. {image} 1) entered into a scout (1_ and went to sleep 2) turned (-3) what looked like we are hitting resistance during london open 3) realized the mistake and added (+2), to become flat....
the blotter
Attached Image (click to enlarge)
Click to Enlarge Name: Selection_008.png Size: 66 KB
  • #223
  • Edited 12:54am Jun 27, 2019 12:42am | Edited 12:54am
Quoting pannet1
As you know, i started trading live in the local OIL market. i got hit 10% and then 2%. i was only hoping to make 5% a month and ended up with 2.5% in the initial winning month. somehow i am not able to trade well. here the rescue was complete, but the brokerage and small loss when it eventually ended, would by far exceed my win/day. Can you spot the problem please. {image} 1) entered into a scout (+1) and went to sleep 2) turned (-3) what looked like we are hitting resistance during london open 3) realized the mistake and added (+2), to become...
Hello Pannet1,

First of all, Oil trading right now looks very gambling due to the reasons I put in Friendly COAs thread replying to your last post. Therefore, I should be very prudent, nimble and watching sizes. It could be a matter of high volatility shaking of the oil market participants, whoever they are. Assassins and spikes might be expected.
From your chart I cannot see any major, strategic picture regarding trendlines, supports, resistance areas (Daily, H4, H1). Because neither I follow the Oil nor feel her flowing.
It's not an issue to deploy a tiny scout on a PA move in direction of a major (Daily) trend from trendline, range border area. Presumably, it was that one or a move from support zone (1), otherwise, why should have gone North?. When you hastily (or nimbly?) deployed -3 South (2), it was obviously just a sort of trend UP, confirmed by impulse where you added +2 (3), normally followed by reaction, retracement (4) close to the trend UP (perhaps there is Resistance zone?) . So, I would have been Bullish all the time till the area (6).
There could I see your fighting by exercising flipping, it's uncertainty in reading the flowing PA (chart) and fear, hesitation to ride (or catch hastily in incertitude) a right direction. Flipping always requires bigger sizes and that would be dangerous due to those economic-political events.

Best regards,
Exnav

P.S. There have been rumors that oil must reach USD 300 per barrel on expectation/ spark of a military conflict between US and Iran... E.g., Russian ruble has just performed the best vis-a-vis both USD and Euro for this year. And this currency is oil dependent, like USD/CAD (to certain degree).
Not to Advance is to Fall Back
  • #224
  • Jun 27, 2019 1:18am Jun 27, 2019 1:18am
Hi pannet1

I have not ‘left you’ (I read our friends Exnav’s journal), we had a disagreement because you as good as called me a liar because of something you thought! without any evidence at all in one of your posts on the TAF thread during a very tense time with lots of bad stuff going on and people trying to deceive, what do you expect my response to have been? what has been said has been said and is in the past as far as I am concerned, though I do see that you are not understanding the TAF thread, in my view you may well be trying to rush through it all too quick, questions are no problem, so let us just draw a line under the whole thing, FTI is back now to answer the questions and sort all the disorder and other things out on his thread.

I do not hold grudges against anyone but you must understand I will not be shot at and just not stand up for what I know to be true.

The choice is yours now if we talk again, if you wish I will delete this post from your journal and we can go our separate ways, I just thought I would try to make peace with you as I believe you are a good person and you just unintentionally said what you did without realising the gravity of what you said at that time.

Regards

Phil.
-be careful about what you allow to be put in your mind-
  • #225
  • Jun 27, 2019 5:00am Jun 27, 2019 5:00am
Quoting Exnav
{quote} Hello Pannet1, First of all, Oil trading right now looks very gambling due to the reasons I put in Friendly COAs thread replying to your last post. Therefore, I should be very prudent, nimble and watching sizes. It could be a matter of high volatility shaking of the oil market participants, whoever they are. Assassins and spikes might be expected. From your chart I cannot see any major, strategic picture regarding trendlines, supports, resistance areas (Daily, H4, H1). Because neither I follow the Oil nor feel her flowing. It's not an issue...
The missing strategic picture

Attached Image (click to enlarge)
Click to Enlarge Name: Selection_010.png Size: 14 KB
  • #226
  • Jun 27, 2019 6:09am Jun 27, 2019 6:09am
Quoting Exnav
{quote} Hello Pannet1, First of all, Oil trading right now looks very gambling due to the reasons I put in Friendly COAs thread replying to your last post. Therefore, I should be very prudent, nimble and watching sizes. It could be a matter of high volatility shaking of the oil market participants, whoever they are. Assassins and spikes might be expected. From your chart I cannot see any major, strategic picture regarding trendlines, supports, resistance areas (Daily, H4, H1). Because neither I follow the Oil nor feel her flowing. It's not an issue...
Many thanks for your reply my friend. Forgive my ignorance .... i have traded Forex during News if not Black Swan events. The US Oil copy cat MCX Crude Oil is quiet manageable in terms of volatility. Please don't worry about that.

your comments are very much in line with what i was thinking at the time of the trades. (1) There was cup like support build up and the angle of sigma was increasingly getting from 45deg towards 95deg. We also just finished a big move up from the cup support area to form a new high. The (2) was a counter trend trade and wrong reading that we are going to test the support now.

after i posted about the trades, i read your very recent journal, where everything went wrong immediately after you flipped. based on FTI's personal message a very long long time ago, i never used to flip. always waited for the counter waves (opposite to my original direction) to subside and push my rescue fleet quickly for a bail out. if this fails then attempt again later in the 3rd and final attempt. someone convinced me, if you are wrong dont hesitate to flip. This is also convenient on me because if i cannot complete the rescue within the trading day, then i would need to subject my 12x size for overnight risk. MCX (my local exchange) closed at 23:30 hrs local time and reopens only at 9:00 hrs the next day.

interestingly both my 10% and 2% loss days were during the flip.
  • #227
  • Jun 27, 2019 6:52am Jun 27, 2019 6:52am
Quoting phil13
Hi pannet1 I have not ‘left you’ (I read our friends Exnav’s journal), we had a disagreement because you as good as called me a liar because of something you thought! without any evidence at all in one of your posts on the TAF thread during a very tense time with lots of bad stuff going on and people trying to deceive, what do you expect my response to have been? what has been said has been said and is in the past as far as I am concerned, though I do see that you are not understanding the TAF thread, in my view you may well be trying to rush through...
hi phil,

many thanks for your kind gesture. you did what you have to do. It was your choice.

from what happened that day. i am mostly not seeing who is sending what message. i am simply making the meanings from what is presented. if i remember correctly, the message (or group of posts earlier), i understood was that someone said FTI is active in social media but not posting in TAF thread. I am also confused like you at that time and with no one to really talk too (even now) for real. I believed that ... actually that someone is cooking up stories for some reason and believed something bad happened to the good master.

i am learning still and the worst thing i could do to myself is stop someone from helping me. no ego for me. just i was worried that everyone leave me and if there is a problem with my communication skills and even more is this a cultural thing (like am not an eastern asian origin). you can just treat me like yourself and take everything for granted, my dear friend. secondly, i had made some conclusions that you are a very kind hearted person and you would not be harsh, whatsoever (no offense intended, i don't mean to say here that you are unkind and harsh). it looked finally i made someone to sin., a sort off.

i well remember the long replies you gave during master FTI's absence just because he requested you to do so. the replies were not only to me but to everyone in need.

your belief expressed in the last sentence is mostly correct (or) i am striving to that.. i hope. my salutation to your contribution to the TAF thread and countless peoples life so far and years to come.

ps: i still have your personal email id which once you gave me. this is to remind you about your willingness to help. i even thought of sending you a mail but somehow when i start to write, i mostly dont have any words.
  • #228
  • Jun 27, 2019 8:29am Jun 27, 2019 8:29am
Hi pannet1

So we put this behind us and forget about it totally then and say no more about it, my friend.

Just so you know I am not an eastern Asian origin person, I do not see skin colour or culture, all I see is people, some are good-some are bad, that is it, we are all just humans living together that is it for me.

I think you must be mistaken, I have never given you my email? I am sure of it. I am not someone who does lots behind closed doors, I only ever respond to people who pm me and that is now turned off and will stay so? Only a couple of people have my email, I do not give it out easily and I am sorry but I just do not ever remember giving it to you my friend, maybe it is some else’s and you think it is mine?

Regards

Phil.
-be careful about what you allow to be put in your mind-
  • #229
  • Edited 9:25am Jun 27, 2019 9:11am | Edited 9:25am
Quoting pannet1
{quote} The missing strategic picture {image}
Dear Pannet,

You did exactly the same as previously, namely, deployed your scout Long (1) on the Northern border (Resistance area) of your channel in the direction farther North (moreover, left the scout overnight). Also that previous time I did express that I would rather have been Long from the Southern border of the channel - trend, but Short (very small and prudent/ nimble) from that same Northern border along with PA move South. It should have been a move to the channel Mean in the direction South and then North - Long from the Mean. Anyway, it's a retrospective view, and would have been more certain from the Southern border (zone). So, I would have added Long if it had gone farther South (only along with a confirmed PA move). Otherwise, I understand why you tried to flip first time with -3 - to catch a ride to the Southern border (contradictory flowing North, though).
To reiterate, the above is how I see it and would have done. I'm definitely not in your shoes and your logic makes me think. Thanks for that.

Best regards,
Exnav
Not to Advance is to Fall Back
  • #230
  • Edited 11:06am Jun 27, 2019 10:52am | Edited 11:06am
Quoting phil13
Hi pannet1 So we put this behind us and forget about it totally then and say no more about it, my friend.

Quoting phil13
Just so you know I am not an eastern Asian origin person, I do not see skin colour or culture, all I see is people, some are good-some are bad, that is it, we are all just humans living together that is it for me.
Sorry, I did not mean that way. What i meant is in order to communicate properly in the TAF thread, I thought one should be from Eastern Asian, leaving out FTI himself, of course. If everything goes wrong for you, then you suspect everything around. Probably I have to blame myself.

Quoting phil13
I think you must be mistaken, I have never given you my email? I am sure of it. I am not someone who does lots behind closed doors, I only ever respond to people who pm me and that is now turned off and will stay so? Only a couple of people have my email, I do not give it out easily and I am sorry but I just do not ever remember giving it to you my friend, maybe it is some else’s and you think it is mine? Regards Phil.
Nope phil. i tried to forward the message you sent to me. of course, as you said, your settings do not allow me to send you message. i may have started the conversation in 2015 and hence you replied. subject was pump and rest. you mail id is deleted for privacy

thank you once again my friend for all your help and guidance.
  • #231
  • Edited 11:07am Jun 27, 2019 10:56am | Edited 11:07am
Hi pannet1

no one to blame, things happen, we are just human not gods.

oh. you do have it, i just do not remember giving it to you ..sorry,

thank you..my friend.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #232
  • Jun 27, 2019 11:05am Jun 27, 2019 11:05am
Quoting Exnav
{quote} Dear Pannet, You did exactly the same as previously, namely, deployed your scout Long (1) on the Northern border (Resistance area) of your channel in the direction farther North (moreover, left the scout overnight). Also that previous time I did express that I would rather have been Long from the Southern border of the channel - trend, but Short (very small and prudent/ nimble) from that same Northern border along with PA move South. It should have been a move to the channel Mean in the direction South and then North - Long from the Mean....
i see Exnav, except one small thing. I am not holding any overnight position. I am using two contracts (Jul and Aug), working on 3 levels sometimes (Aug Overnight, Jul Intraday, Jul Overnight). They are essentially 2 contracts but i am able to look at them in 3 separate P & L, so i could set off one against each other. During EOD i scale down as necessary to become flat. Yesterday it was -4 in Aug and 4 in Jul, to avoid overnight risk.

From what i infer, I dont have the balls to remain in the now moment and ride from the North down to the mean. The other reason is the heavy build up by the angle of sigma and as well Daily printed 5 continuous up days with a pause down day and we are trading above this. Basically expecting 4 more daily waves.
  • #233
  • Jun 27, 2019 11:22am Jun 27, 2019 11:22am
Hi pannet1

i think i start to remember now... been doing brain in not recalling this, but i had an accident in 2000 which affected some parts of my memory, so sorry my friend nothing personal about forgetting, this is my issue, we had to exchange charts for me to explain and on FF at that time we could not attach pictures.

regards

Phil.
-be careful about what you allow to be put in your mind-
  • #234
  • Jun 27, 2019 11:55am Jun 27, 2019 11:55am
Quoting phil13
Hi pannet1 i think i start to remember now... been doing brain in not recalling this, but i had an accident in 2000 which affected some parts of my memory, so sorry my friend nothing personal about forgetting, this is my issue, we had to exchange charts for me to explain and on FF at that time we could not attach pictures. regards Phil.
OMG Phil,

I am sorry my friend. I did not know this. With such an issue you contributed so much to the TAF thread mind blowing. With the new found knowledge most would be busy making money. A true disciple, second to none.

bowing with respects.
  • #235
  • Edited 12:45pm Jun 27, 2019 12:33pm | Edited 12:45pm
just 1 scout in and booked profit, made peanut. without attack and all account size is mostly made for rescue, it looks like looser's game.
so what is different from the demo account (US Oil).

1) I would not exit my position till i make my 2% or whatever i think is needed for the attack battle, in the DEMO
2) i eat like ant (profit) and shit like elephant (losses), in the LIVE
3) i had algo (EA) that manages the exits, so spikes that are favorable are not missed. i can also concentrate on the entries without worrying about the exits, in the DEMO.
4) lot of visual clue on the chart with order lines to have birds eye view, in the DEMO
5) positions P&L are evaluated every night by the broker and readjusted the next day morning. problem is the debits they send in case of loosing position (unbooked) is negative to the psychology. (in LIVE)
6) important, flips helped at times but profits were less. when flips failed loses were huge, in LIVE.

phew

Attached Image (click to enlarge)
Click to Enlarge Name: Selection_012.png Size: 76 KB
  • #236
  • Jun 27, 2019 3:45pm Jun 27, 2019 3:45pm
books on volatality https://www.forexfactory.com/showthr...69#post2440369
  • #237
  • Jun 28, 2019 1:10am Jun 28, 2019 1:10am
Quoting pannet1
{quote} OMG Phil, I am sorry my friend. I did not know this. With such an issue you contributed so much to the TAF thread mind blowing. With the new found knowledge most would be busy making money. A true disciple, second to none. bowing with respects.

Hi pannet1

There are people far worse off than me in this world my friend, the accident was a message to slow down before I killed myself working, everyone has problems with some things one way or another, I am fortunate that things could have been a lot worse for me and they did not turn out that way, the poor guy in the bed opposite had exactly the same accident and injuries as me, he unfortunately he had to lose one of his legs due to it, then there were others in there that were in separate rooms with similar but much more severe injuries than me who never survived it.

This why I now trade, I used to be a builder when the accident happen, before that a mechanic, was told can not do any manual work for a living anymore, I tried too go back to building after a few years but found out the hard way why they said no more manual job for me, so unlike most here trading is not my choice of jobs, so I guess from the outset I had a different outlook/view about it as I did not want a desk job ever, do not get me wrong I now enjoy trading and like trying to help others along the way, it is just my way of saying ‘thank you’ for being given another chance and also for finding (or being lead to?) fti and his thread which is where and with his help along the way I learnt how to trade eventually!, he asked nothing of us but to help others, I have taken from him and his thread and just try to give something back as he wished for out of respect for his help and the second chance i have been given, that is all.

Regards

Phil.
-be careful about what you allow to be put in your mind-
  • #238
  • Jun 28, 2019 1:24am Jun 28, 2019 1:24am
Quoting pannet1
{quote} i see Exnav, except one small thing. I am not holding any overnight position. I am using two contracts (Jul and Aug), working on 3 levels sometimes (Aug Overnight, Jul Intraday, Jul Overnight). They are essentially 2 contracts but i am able to look at them in 3 separate P & L, so i could set off one against each other. During EOD i scale down as necessary to become flat. Yesterday it was -4 in Aug and 4 in Jul, to avoid overnight risk. From what i infer, I dont have the balls to remain in the now moment and ride from the North down to the...
Hello Pannet,

As I expressed you should know better what you are doing, it's your domain. And it's difficult to grasp objectively and comprehensively things I'm not dealing with. I've never used any EAs nor I rigidly believe in daily waves counts. My issue remains the same twofold - sizes, though. Sometimes I may deploy more than required being lured by good-looking PA, that's it - too early.

Best regards,
Exnav
Not to Advance is to Fall Back
  • #239
  • Jun 28, 2019 1:29am Jun 28, 2019 1:29am
Quoting phil13
{quote} fti and his thread which is where and with his help along the way I learnt how to trade eventually!, he asked nothing of us but to help others, I have taken from him and his thread and just try to give something back as he wished for out of respect for his help and the second chance i have been given, that is all.
Hello Phil,

And you know that your giving-back and mere presence is highly appreciated.
On my end, I have taken a break since feeling a little affected by trading. Actually, I don't know if I come back. Health is paramount, though.

All the best,
Exnav
Not to Advance is to Fall Back
  • #240
  • Jun 28, 2019 1:53am Jun 28, 2019 1:53am
Quoting Exnav
{quote} Hello Phil, And you know that your giving-back and mere presence is highly appreciated. On my end, I have taken a break since feeling a little affected by trading. Actually, I don't know if I come back. Health is paramount, though. All the best, Exnav

Hi Exnav

Thank you my friend for your very kind words.

Health first always, you must do what you feel is correct for you….. take care

Regards

Phil.
-be careful about what you allow to be put in your mind-
0 traders viewing now