I want to repeat I will NOT be trying to catch any of these falling knives today at any of the levels even if they go past 1%. There are times that I will counter-trend trade but today is not one of them. 
What I learned after losing $300,000 trading forex
- #422
- Aug 7, 2020 8:37am Aug 7, 2020 8:37am
- Joined Jul 2012 | Status: Trader | 1,880 Posts
{quote} Hahaha I used to smoke weed when I was a much much younger man but all it did was make me super paranoid but good luck with that if it helps you
- #427
- Edited 4:31pm Aug 7, 2020 3:57pm | Edited 4:31pm
{quote} Lol, without stop loss and a very very small tp ? I am confident, that is not the problem, it would be if I were to lose my humility, by the way I never claimed anything. As said before, the only common trait that I have found in experienced traders is humility, which you lack tremendously. Just show us a track record instead of claiming what you did last night.
We all suffer from dopamine addiction. Ego and bias are the number one cause of that addiction.
When I say ego what I am saying is how badly do we need to be right about something?
When I say, bias what I am saying is are we seeing the market for what it is objectively showing us or what we want to see?
We must strive to make sure we see the market for what it really is and not what we were taught or told it is. We must obsessively seek out the facts and accept the results of what we are getting.
Statistical Trading will help you know the facts. Math never lies. Even by saying this statement, I am causing myself to have a bias so I must be very aware of the balance between my ego and my bias.
If the market moved 4% today (way outside of the statistical norms) would I blow my account because my ego and bias were making me fade the entire move?
.
We all have these biases and it is how you interact with your ego that will determine your fate as a trader.
It never ceases to amaze me how retail traders will fight tooth and nail to prove they are right and you are wrong. It is an extremely powerful addiction.
Ego and bias was and still is a really hard thing for me to let go of and I struggle with it daily. I wish there was some magic pill that makes it all go away but the truth is I just take it one day at a time. Some days I am really good at controlling the dopamine rushes and other days not so much.
This is why I do not want this thread to turn into a proof of trading thread or anything stupid like that.
I do not even like sharing my PnL statements because that gives me a dopamine rush!!
I am only sharing it for a short period of time just to keep the haters off this thread but it will not be an ongoing thing.
All it takes is one bad day to wipe out weeks and months of profits and we all have done it so that means .... we are all already addicts.
I ADMIT ... I AM ADDICTED TO PUSHING BUTTONS AND THE DOPAMINE RELEASE THAT IT BRINGS. ALL OF US MUST ABSOLUTELY START WITH THIS AS OUR NUMBER ONE GOAL EACH DAY.
CONTROL THE DOPAMINE BEFORE IT CONTROLS YOU.
{quote} We all suffer from dopamine addiction. Ego and bias are the number one cause of that addiction. I am trying to avoid it like the plague in this thread. It never ceases to amaze me how retail traders will fight tooth and nail to prove they are right and you are wrong. It is an extremely powerful addiction.
Yes you are absolutely right and put it quite eloquently on paper, so why hiding Bwilliam’s post instead of Rick’s ? Which obviously went far above all your qualitative words. We all respected your thread by staying humble, ears opened even though criticizing a bit but nothing like claiming a 90% hit rate in a thread where it hasn’t its place. Aren’t you trying to educate peoples to do the opposite than Rick ?
Actually Rick is the antithesis of what you have been saying all along. I am not asking to ban him nor to hide his messages, but why doing so with Bwilliam? I guess it was because his message probably was off topic. So then why not Rick ?
You should tell him politely that this thread is not his to promote his commercial agenda.
Am I wrong ?
Cheers,
LDFX Trading Ltd
- #430
- Aug 7, 2020 4:42pm Aug 7, 2020 4:42pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Just to clarify I deleted the posts related to the live trade call I made earlier out of respect for OP. The reason why I made that trade call is to demonstrate in live market what fooled by randomness means. How it affects all of us. The price was falling the whole day and at the time before NFP it struggled to dip below 1.5763 as posted by failinforex post. https://www.forexfactory.com/thread/...0#post13103000 I responded to his post to say that there's a buying opportunity when price dip to 1.5732 support level after NFP news...
Well then I must apologize to Ceeso and the readers, I misunderstood it for an hidden post.
CeeSo please forgive me
.PS : I still stand by my comments on Rick though.
Cheers,
LDFX Trading Ltd
- #433
- Edited 10:50pm Aug 7, 2020 7:48pm | Edited 10:50pm
- Joined Jul 2012 | Status: Trader | 1,880 Posts
{quote} Well then I must apologize to Ceeso and the readers, I misunderstood it for an hidden post. CeeSo please forgive me
That would be the best antidote against naysayers and "wannabes."
Here are Nasdaq CFD's 5 min TF - 3 winners 1 BE. I intentionally removed my indi's.
- #435
- Edited 1:04am Aug 8, 2020 12:19am | Edited 1:04am
{quote} I understand your view, but believe me, it is a reality. A 2% volume by retail traders (if this number is accurate) does not mean a thing though. If it would, then explain me why every single low capitalized retail trader has experienced slippage more than once ? Including you. Also slippage is relative to the stop/tp size. The more capital you will trade the more you will understand this. Cheers,
Cheers!
{quote} I hv never doubted his live calls but to gloat about 23 live calls with 100% success piqued my curiosity especially when there is no mention about the risks factor. I even offered to pay him to watch him make just 10 instead of 23 with a profit factor of 2X. I also offered to join him and his gang to make those live calls but he said I have to learn his method first and wait in line to join. Anyway I hv said my peace and put this whole drama behind me. My last post here. Tks n cheers
* EDIT:
Hint: you can find the invite by just looking at Ric's posting history.
{quote} Lol, without stop loss and a very very small tp ? I am confident, that is not the problem, it would be if I were to lose my humility, by the way I never claimed anything. As said before, the only common trait that I have found in experienced traders is humility, which you lack tremendously. Just show us a track record instead of claiming what you did last night.
And not wanting to show private track-record is perfectly fine. It could be fake anyway ¯\_(ツ)_/¯
Also, he has already shown some results before ;-)
{quote} Yes you are absolutely right and put it quite eloquently on paper, so why hiding Bwilliam’s post instead of Rick’s ? Which obviously went far above all your qualitative words. We all respected your thread by staying humble, ears opened even though criticizing a bit but nothing like claiming a 90% hit rate in a thread where it hasn’t its place. Aren’t you trying to educate peoples to do the opposite than Rick ? Actually Rick is the antithesis of what you have been saying all along. I am not asking to ban him nor to hide his messages, but...
In what way is he molesting anyone here? He's evidently NOT the one making all the unnecessary drama.
{quote} Of course I forgive you, not that I condemned you in the first place. But Bwilliam had one good post hidden because disliked by the thread owner, which I have no problem in the absolute because it is your thread, your rules. But Rick being able to horseback your thread for commercial purposes while eloquent posts as Bwilliam are hidden... Don’t get me wrong, I am very pleased to see at last a thread that focuses on the main important things, such as ego, dopamine rush, addiction, randomn distribution and probabilities. Which is a reality...
That's a serious accusation, you know?
- #437
- Edited 12:52am Aug 8, 2020 12:34am | Edited 12:52am
anyone have @CeeSo indicator on tradingview?
Thanks to Op for this wonderful topic
! There are many raw gems here
