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does this only happen to me?

  • #1
  • First Post: Oct 24, 2006 8:31pm Oct 24, 2006 8:31pm
Hi

im just wandering is this only happening to me?, every time i take a trade the position automatically moves against me i mean i dont even have to wait more than a couple of minutes to see the position go against me, its getting pretty annoying because it happens on almost every single trade, i tried diffrent systems mouteki, MA crosses, Price action and countless other things, can some one give me some advice what to do?

sorry for the rant
G-dogg
Egyptian and proud of it!
  • #2
  • Oct 24, 2006 8:40pm Oct 24, 2006 8:40pm
what to do? ... accept it as part of trading, I am not being sarcastic or patronising, yes it happens to most of us, perhaps not all of the time, but a hell of a lot, of course I don't know what degree it is moving against you, if it is a few pips, then don't sweat it, that's just noise, if it is 40-50 pips, then you need to look at your entry strategy, perhaps you are trying "anticipating" rather than really reading the market.
You can quit and they won't care, but you will always know.
  • #3
  • Oct 24, 2006 9:23pm Oct 24, 2006 9:23pm
i am wondering if your time frame is wrong, i supect you are in the 5-15 minute time frames with tight stops, but that is only a guess as you haven't said how you trade. maybe if you post.
Demo Account Size: $10,000
Time frame:30 min
Currency Pair: GPD/USD
Method: Bunny Girl Cross
Stop Loss: 30pips
etc, etc

Then other forum members might be able to suggest way in which you can inprove.
  • #4
  • Oct 24, 2006 9:31pm Oct 24, 2006 9:31pm
well first off thanks for the advice guys, its just that today in the morning i took 3 trades based on MA crosses on the 15min charts for the EUR/USD, USD/CHF, and GBP/USD All the trades were going smooth, so i shut down the pc and went to school when i came back to check up i saw all three had a huge spike in the other direction of my trade, so i tried to scalp a little to regain some of the loss and scalping only pushed me down futher, im not mad about the money i lost at all as im still learning, its that im loosing every trade i make, well i guess as you mensioned everyone has a couple of off trades.

Ademac, im using diffrent time frames all the time, i use 15mins for muddbuddah MA cross system, i use 1hr for sidus, and i use 4hr or 1D for mouteki, and im on a live account its a micro ($100) with oanda, i was thinking of puttin $1,000 but i thought i would use this as a transitional stage till i feel more comfortable and at least have a constant system.
Egyptian and proud of it!
  • #5
  • Oct 24, 2006 9:38pm Oct 24, 2006 9:38pm
I don't know if you are even looking for advice here, but I'll throw some in. I am also a student, I trade the 4H, and I think that is absolute smallest timeframe you should trade because of your circumstances. It will do wonders for your stress level. Also, I don't know if you do this or not, but I was addicted to C.A.R. when I first started trading. It cost me a bundle. CLOSE AND REVERSE. Don't do it! If the position moves against you, don't reverse it, don't even close it. Let it be, and hopefully you will make some money.

Preserve your capital, and live to trade another day!

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #6
  • Oct 24, 2006 11:49pm Oct 24, 2006 11:49pm
You’re getting caught out because you lack experience. Every new trader looks at an uptrend and expects it will go forever so they repeatedly buy the tops and sell the bottoms. You need to see several hundred patterns play out before you will begin to see the subtle differences between a continuation pattern and a reversal. My personal recommendation (which I will no doubt catch much grief over) is to try scalping the 1min for a few weeks.

On a 4 hour you may get to see a few dozen patterns a month, the one hour may provide that many in a week. The 1 min will show you 50-100 setups a day. Don't delude yourself that you'll be making any money at it because you won't, but the truth is you won't be making money on the 4 hours either. It's all a matter of how long you want to spend learning...

PS- Good choice on trading the micro live account. You’re going to need to learn the psychological aspects at some point, so you might as well start immediately. Just hold off on putting more the $100 in it at a time until you really know what you’re doing. No sense wasting the money.
  • #7
  • Oct 25, 2006 12:57am Oct 25, 2006 12:57am
Hi im new here, but allow me give my 2pips...

well, it doesn't matter if ur a beginner...but trading 15min timeframe and then going to school with out loss protection or setting profit taking points speaks alot of your very own negligence. And you hunger for systems shows your lack of trading acumen and ability to choose the perfect timeframe.

You have to understand that most of the systems posted here are successful because the wielder themselves have made it to suit their very own personality and style. It suits their level of risk apetite. When they see MA crosses the don't read the crosses but understand the patterns. When they see line breakout they don't analyse the breakout but the formation before it which results in the breakout. Since u can't sit infront of the school all day, i would suggest you re-consider the timeframe that you wish to trade with.

Looking at multiple timeframe is ok as we will be able to strategize from getting the big picture, but trading multiple timeframe will cut you into pieces, furthermore you are employing diff systems for diff timeframes, please know that these systems will give you different trade set-ups.


Gd day...

Jest
  • #8
  • Oct 25, 2006 1:17am Oct 25, 2006 1:17am
Quoting g-dogg
today in the morning i took 3 trades based on MA crosses on the 15min charts for the EUR/USD, USD/CHF, and GBP/USD All the trades were going smooth, so i shut down the pc and went to school when i came back to check up i saw all three had a huge spike in the other direction of my trade, so i tried to scalp a little to regain some of the loss and scalping .
Hey G-dogg, hope I'm not being insensitive or overly judgmental, but I see a couple issues with your current trading process.....1st, and most obvious, I don't think you can set a 15m strategy on a "set it and forget it" mode and hope for success, unless your goal is around 5-10 pips minus spread and an aggressive S/L????? And to piggyback that emotion, revenge trading to climb back out of the hole is never a good idea. Take your loss in stride and move to the next "opportunity"

The other thing I wonder about is your layering of different methods that you apply to varying time frames. Each of the methods you have referenced, have great merits and achieve potential success, but you may be confusing yourself with an overlap of ideas????

Maybe it is best to devote yourself to just one system and maybe use different time frames within that system to confirm your entries, but please, keep it simple............IMHO, almost any set of MA crossovers can work in FX if you can tackle psychology and $$ mgmt. Ask around....it's true!!!!

Once you master one method......you can reference others as further confirmation, or potentially "missed opportunities".
  • #9
  • Oct 25, 2006 7:14am Oct 25, 2006 7:14am
Quoting Darkstar
You’re getting caught out because you lack experience. Every new trader looks at an uptrend and expects it will go forever so they repeatedly buy the tops and sell the bottoms. You need to see several hundred patterns play out before you will begin to see the subtle differences between a continuation pattern and a reversal. My personal recommendation (which I will no doubt catch much grief over) is to try scalping the 1min for a few weeks.

On a 4 hour you may get to see a few dozen patterns a month, the one hour may provide that many in a week. The 1 min will show you 50-100 setups a day. Don't delude yourself that you'll be making any money at it because you won't, but the truth is you won't be making money on the 4 hours either. It's all a matter of how long you want to spend learning...

PS- Good choice on trading the micro live account. You’re going to need to learn the psychological aspects at some point, so you might as well start immediately. Just hold off on putting more the $100 in it at a time until you really know what you’re doing. No sense wasting the money.
I like what darkstar is saying if you have the ability to put in the screen time. The repetition is excellent and can help you see the right mindset. Also even if you are a trend trader there is a contrarian mindset to a good entry that, I feel, absolutely must be learned. For example, it is just not human nature to buy or sell extremes in the opposite direction even in a range. Also buying a pullback to the moving average is hard to do because of the fear that it will keep going. However, this type of thinking will will usually put you in trades that go in your favor at least initially so you have a chance to take some profits, and often get you into the best trades.
Profit is where readiness meets Opportunity
  • #10
  • Oct 25, 2006 8:31am Oct 25, 2006 8:31am
This happened to me for a long time. I know exactly how you feel and I'm pretty sure I know why this happens.

The good news is... is you have a very high percentage of losses, then you probably have a knack for trading that just needs to be developed. Oh, you can try to do the opposite, but that never worked for me.

You see, you're very in turn with the "emotions" of the market, but trading on emotions without a longer term startegy might be fun, but it's certainly not profitable.

Remember you're not trading alone. You need to visualize the other players and anticiapte what they're thinking and doing. "If you can't spot where the suckers are in the game, then it's you." There's a lot of little traps, and you're just getting caught in them all. Big money takes advantage of little players all the time. By big money, I mean, money that can move the market.
  • #11
  • Oct 25, 2006 11:05am Oct 25, 2006 11:05am
Quoting g-dogg
Hi

im just wandering is this only happening to me?, every time i take a trade the position automatically moves against me i mean i dont even have to wait more than a couple of minutes to see the position go against me, its getting pretty annoying because it happens on almost every single trade, i tried diffrent systems mouteki, MA crosses, Price action and countless other things, can some one give me some advice what to do?

sorry for the rant
G-dogg
Trade daily charts with a trend following system, something simple like Sidus. Find your setup, follow the rules, place your trade with appropriate stops AND turn the platform OFF. Watching charts tick is hard to stop because you want to succeed soooooooo badly. I still have a problem with it and relapse at times. It is completely counterproductive and unhealthy.... imho. You see, I too am a recovering tickoholic. Don't get me wrong, I am sure certain personality types can thrive with that approach. However, my understanding is that the large majority of accomplished traders trade longer time frames and use their time to educate themselves and prepare... not watch the ticks go by.
  • #12
  • Oct 25, 2006 11:07am Oct 25, 2006 11:07am
Actually, I was just kidding. It only happens to you.
  • #13
  • Oct 25, 2006 11:20am Oct 25, 2006 11:20am
man, i wished i had started forex back in college
  • #14
  • Oct 25, 2006 11:39am Oct 25, 2006 11:39am
Quoting g-dogg
every time i take a trade the position automatically moves against me i mean i dont even have to wait more than a couple of minutes to see the position go against me, its getting pretty annoying because it happens on almost every single trade, i tried diffrent systems mouteki, MA crosses, Price action and countless other things, can some one give me some advice what to do?
Welcome to the family ! I also have this common ability to scare the market the other way whenever I trade. I then notice some sessions will reassure the price and it will go the way I want most of the time. Although sometimes only a few pips...

Quoting squat1962
Watching charts tick is hard to stop because you want to succeed soooooooo badly. I still have a problem with it and relapse at times. It is completely counterproductive and unhealthy.... imho. You see, I too am a recovering tickoholic.
I know EXACTLY what you mean...
  • #15
  • Oct 25, 2006 1:53pm Oct 25, 2006 1:53pm
Quoting g-dogg
Hi

im just wandering is this only happening to me?, every time i take a trade the position automatically moves against me i mean i dont even have to wait more than a couple of minutes to see the position go against me, its getting pretty annoying because it happens on almost every single trade, i tried diffrent systems mouteki, MA crosses, Price action and countless other things, can some one give me some advice what to do?

sorry for the rant
G-dogg
g-dogg

Find a moving average that works (frig the MA crossovers ).

Now play about with the levels until you find approximate levels at which the market turns.

Now using the two most recent swing highs & swing lows,look for a trendline break to the downside for the stretched market at the level above the MA & a trendline break to the upside for a stretched market at the level below the MA.

Notice how the market reacts at the MA as well as at the levels.

This isn't rocket science, so I will not be giving any further advice on how to trade this idea.

I will try & post a 5min chart and a daily chart both with the same MA but with different levels.

Good look, don't give up.

BabeFX
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  • #16
  • Oct 25, 2006 2:48pm Oct 25, 2006 2:48pm
Thank you for your replies i truely am glad to be a memeber of this forum because of the great people here, i will try my best to read as much stuff on this forum as i can, for right now i think im going to open a demo account stick to mouteki's plan as much as i can because i remeber when i first tried it out it was working real good, i will stick to his rules weather im loosing or wining just try to get the disipline. i feel much better now, that im not the only newb with these problems, lol.

Quote
man, i wished i had started forex back in college

Actually im in high school, im a senior and one of the reasons i got into forex was my econ. class where we were learning about the money markets. hopefully i can make enough money here to pay for college though
Egyptian and proud of it!
  • #17
  • Oct 25, 2006 2:56pm Oct 25, 2006 2:56pm
Quoting g-dogg
Hi

im just wandering is this only happening to me?, every time i take a trade the position automatically moves against me i mean i dont even have to wait more than a couple of minutes to see the position go against me, its getting pretty annoying because it happens on almost every single trade, i tried diffrent systems mouteki, MA crosses, Price action and countless other things, can some one give me some advice what to do?

sorry for the rant
G-dogg
Hey, G-dogg...

This used to happen to me on a regular basis... so bad that I even posted here, long ago, that I could start a signal service to tell everyone what I was going to do so they could do the opposite.

Lou
  • #18
  • Oct 25, 2006 6:32pm Oct 25, 2006 6:32pm
Quoting Lou
Hey, G-dogg...

This used to happen to me on a regular basis... so bad that I even posted here, long ago, that I could start a signal service to tell everyone what I was going to do so they could do the opposite.

Lou
LOL, so now i know how these signal services are so profitable to the users , may be i should do that too!
Egyptian and proud of it!
  • #19
  • Oct 25, 2006 10:47pm Oct 25, 2006 10:47pm
Hey G-dogg,

Looks like you found the answers to a lot of your questions. I belive you have found a good path to follow as you are going to pick one style and master it. Well done. If you are looking for a good demo platform then Metatrader is the best around, imho.

Also i tend to agree with Darkstar - "On a 4 hour you may get to see a few dozen patterns a month, the one hour may provide that many in a week. The 1 min will show you 50-100 setups a day. Don't delude yourself that you'll be making any money at it because you won't, but the truth is you won't be making money on the 4 hours either. It's all a matter of how long you want to spend learning..."

i spent 4-5 months learning on the 5-15 min time frames with 3 differant models, before swithching back to the 4hr-daily time frames, one method and a single pair. Since then my profitablity improved but i still keep a 15min window open to learn, but i dont trade it.

Enjoy
Ademac
  • #20
  • Oct 26, 2006 8:30pm Oct 26, 2006 8:30pm
Quoting g-dogg
Thank you for your replies i truely am glad to be a memeber of this forum because of the great people here, i will try my best to read as much stuff on this forum as i can, for right now i think im going to open a demo account stick to mouteki's plan as much as i can because i remeber when i first tried it out it was working real good, i will stick to his rules weather im loosing or wining just try to get the disipline. i feel much better now, that im not the only newb with these problems, lol.



Actually im in high school, im a senior and one of the reasons i got into forex was my econ. class where we were learning about the money markets. hopefully i can make enough money here to pay for college though
g-dogg...you're young and im glad u started now rather than later. Not many guys ur age are as mature as you, hell even i din think abt FX when i was still in high school. Things can only get better for you and for all the exp you have harvested while still in school, this experience will be pivotal if you wish to get a high seating in the corporate financial markets...who knows ,we might proly see you on tv in the coming years...its always good to start early.
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