What I learned after losing $300,000 trading forex | Page 28 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Your and My Lessons Learned Losing and Gaining in Trading 5 replies

things you learned from forex and improved your life 12 replies

The most important lesson’s I’ve learned trading Forex, so far... 15 replies

Attachments: What I learned after losing $300,000 trading forex
Exit Attachments

What I learned after losing $300,000 trading forex

  • #541
  • Aug 13, 2020 5:49am Aug 13, 2020 5:49am
Ive asked that as well.
  • #542
  • Aug 13, 2020 5:55am Aug 13, 2020 5:55am
Quoting Trident
Ive asked that as well.
It would be interesting to create a tools. There is another topic here in the forum where a user had created a script which statistically calculated how many times the price had closed other than the bollinger. I think it's a similar concept
  • #543
  • Aug 13, 2020 6:30am Aug 13, 2020 6:30am
that could be interezsting, if it is possible.
  • #544
  • Aug 13, 2020 6:34am Aug 13, 2020 6:34am
Quoting gian97
{quote} It would be interesting to create a tools. There is another topic here in the forum where a user had created a script which statistically calculated how many times the price had closed other than the bollinger. I think it's a similar concept
And so, as I have mentioned before, why don't one of you guys open a thread dealing with the mechanics of generating the statistics and deal with that issue on that thread and leave this thread to simply discuss the findings that CeesSo has presented.
To free Gazans of Hamas, use whatever it takes.
  • #545
  • Edited 7:55am Aug 13, 2020 7:33am | Edited 7:55am
Quoting DrDave
{quote} And so, as I have mentioned before, why don't one of you guys open a thread dealing with the mechanics of generating the statistics and deal with that issue on that thread and leave this thread to simply discuss the findings that CeesSo has presented.
Because this is completely inherent to the post and does not go off topic in any way (He's talking to us about STATISTICS and how to USE them in trading, right?)
  • #546
  • Aug 13, 2020 9:36am Aug 13, 2020 9:36am
Quoting gian97
{quote} Because this is completely inherent to the post and does not go off topic in any way (He's talking to us about STATISTICS and how to USE them in trading, right?) Then I don't seem to read moderator in your nickname, so let at least the creator of the thread decide what to talk about or what not
1. I don't seem to read moderator in your nickname, so let at least the creator of the thread decide what to talk about or what not
How about apply your own words to yourself as an example?

2. No, revealing/discussing the mechanics is not inherent/implicit to the post.

3. Did you see CeeSo mention that he intends to delve into the mechanics of how to find raw data and then how to apply various tools to it to get some output to consider? You should feel lucky that he was kind enough to supply indicator code.
To free Gazans of Hamas, use whatever it takes.
  • #547
  • Aug 13, 2020 11:22am Aug 13, 2020 11:22am
Hi Guys and Gals I apologize for not commenting on the thread or posting trades etc...

I found it was indeed causing me to have too much of a Dopamine rush too early in the morning. So I have avoided posting for that reason.

Also in an effort to control the dopamine altogether and since I found out about the FTMO challenge and realize I can get 300k in managed accounts. (This would double my current account value) I have been busy trying to code my process into an EA and testing it like crazy lately but so far it is not doing what I want it to do the way I want it to do it

This morning it fired off 3 nice trades but it sized the trades wrong and took a few in the wrong locations and so I was scrambling around to fix the trades and decided just to exit them with a break-even day.

The irony is the EA gave me a 10x bigger dopamine rush then just putting the trades on manually

I will try and post after I am flat or on weekends if you have any questions please forgive my absence.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 159 KB
Click to Enlarge Name: Capture1.JPG Size: 149 KB
Click to Enlarge Name: Capture3.JPG Size: 157 KB
Click to Enlarge Name: Capture4.JPG Size: 85 KB
  • #548
  • Aug 13, 2020 12:30pm Aug 13, 2020 12:30pm
Quoting CeeSo
Hi Guys and Gals I apologize for not commenting on the thread or posting trades etc... I found it was indeed causing me to have too much of a Dopamine rush too early in the morning. So I have avoided posting for that reason. Also in an effort to control the dopamine altogether and since I found out about the FTMO challenge and realize I can get 300k in managed accounts. (This would double my current account value) I have been busy trying to code my process into an EA and testing it like crazy lately but so far it is not doing what I want it to do...
Did you happen to do any type of analysis about trading only away from the open unless price has traveled beyond some "extreme" level, say 0.6%?
To free Gazans of Hamas, use whatever it takes.
  • #549
  • Aug 13, 2020 12:50pm Aug 13, 2020 12:50pm
Quoting Headland
... sometimes sharing intelligent stuff is like casting pearls to swine !

Yeah. I was excited to read this thread. Until I remembered that there are assholes everywhere who hate anyone having attention.
Don't compare your trades to others. Most often the masses are the asses
  • #550
  • Aug 13, 2020 5:50pm Aug 13, 2020 5:50pm
I find this thread very helpful. I am wondering if anyone has come up with an actual trading system based on this information?
  • #551
  • Aug 13, 2020 7:15pm Aug 13, 2020 7:15pm
Quoting Pip-Miner
Some very good points here Ceeso. I commend your patience with some of the trolls like ldfx. 4. You have to stop giving a sh#t what other people think of your trading.
I am a troll ?! You could say that on any thread but this one.

I have been greeting all his posts unless the “levels” that he shared on which I disagreed, that is why since then I have decided to bail out of any conversation regarding those levels.

Are you one that prefer censorship because it doesn’t go your way while it should be taken positively for the sake of criticism? Socratism is the best way to go further.

I have agreed with most of what has been said here, mostly from CeeSo, yet you are calling me a troll because I do share my experience aka point of view ?

And yes, I am sad that this thread has mutated from a psychological thread to a subjective levels “system” thread. I guess CeeSo would agree on that...

If my opinion is trolling then a forum is the wrong the place for you.


Cheers,
LDFX Trading Ltd
  • #552
  • Edited 7:42pm Aug 13, 2020 7:30pm | Edited 7:42pm
CeeSo in his first post did say to not believe anything anyone is saying including him.

Yet everyone is hanging about his so called “statistical edge”.

Yet I am called a troll while doubting it is an edge at all...

So far it is a statistic on daily close only, without taking the negative/positive excursion, which are not accurate datas and can’t therefore be called an edge.

And which being a static % that increases/decreases regarding the price’s asset without taking into account the current volatility is wrong because a price getting higher doesn’t mean the volatility is correlated, therefore a static % on the price’s asset is wrong.

Those are nonetheless very important questions/criticisms that have never been answered so far.

This thread is mutating to newbies asking for those magical “subjectives” levels while I thought this thread was the total opposite, Yet avoiding the main topic which was psychological management.


“Fooled by randomness “, again and fatalistically big time, but I guess CeeSo is getting his compensation of dopamine rush, innit CeeSo ?


Cheers,
LDFX Trading Ltd
  • #553
  • Aug 14, 2020 1:26am Aug 14, 2020 1:26am
I thought it was a thread where you could help us to deepen this type of study, but apparently it is the usual thread where the noobs want to copy the system in turn step by step.
I am profitable and therefore I prefer to be told how to get to certain data, and not give for sure everything I read without backtesting or whatever.
Goodbye
  • #554
  • Edited 2:01am Aug 14, 2020 1:45am | Edited 2:01am
Quoting pro-trading
Here are yesterdays and todays percentage levels {image}
On such a volatile price like you showed, any fibs, a % of the ATR or a bunch of MAs would have done the same. The price bounced 25 times at very approximative levels...

The “levels” seemed to be random if you analyze the negative excursions on your example because they are so narrow, which is pure randomness.

Take some dice and roll them, multiply the open price by o.the result and you would have other levels that will have interacted with the price as well.

I am so disappointed that this thread has mutated to nothing else than a so called edge given on %levels.

Isn’t it what the thread starter didn’t want and warned that those levels are not S/R ?


Trading is way more than that, no edge in some % horse shit levels is all. Take another % which might not have worked yesterday but 2 days before and you will understand “Fooled by randomness”. The market is so volatile that it is easy to put up any calculation by calling it an edge because seeing it bouncing.

If you had taken 50% of those levels it would have had the same reaction...

So sad...
LDFX Trading Ltd
  • #555
  • Aug 14, 2020 2:00am Aug 14, 2020 2:00am
Everyone has the right to look for signs on the path he has taken and is walking. And sharing them makes him a little better than all the silent players. Everything said after him shows that he is in front. Good luck CeeSo
  • #556
  • Aug 14, 2020 4:41am Aug 14, 2020 4:41am
Quoting CeeSo
So I promised you guys I would continue with this thread and one of the biggest things I had to accept before I became profitable was the Mathematical Facts that the market is random 85% of the time. This is 1 year of the $EURUSD (trust me when I tell you that all the other pairs are almost identical) What this data is tell you is the market spend 85% of its time in a range plus or minus .50% What exactly does that mean? It means you are getting stopped out a hell of lot of the time if you are using tight stops. !!! THIS IS CRITICAL TO UNDERSTAND....
It is certainly very intresting levels to notice and observe. Can you guide us.. how did you study the 6 years data? Do you have a custom software for it? how did you do it? I would like to do a similar study on other pairs also and will be happy to share the results on the forum. Your guidance and help is much appreciated.

Those who has eyes.. and the interest, can SEE Others can complain... criticise and move on...!!!
  • #557
  • Aug 14, 2020 6:28am Aug 14, 2020 6:28am
Loosing money is a common thing in forex market. But if you can make all your mistakes into your learning opportunities, you can become successful.
  • #558
  • Aug 14, 2020 6:32am Aug 14, 2020 6:32am
Quoting Robertstarc
Loosing money is a common thing in forex market. But if you can make all your mistakes into your learning opportunities, you can become successful.
Spot on, great advice!
  • #559
  • Aug 14, 2020 6:36am Aug 14, 2020 6:36am
Quoting vinforex7
{quote} It is certainly very intresting levels to notice and observe. Can you guide us.. how did you study the 6 years data? Do you have a custom software for it? how did you do it? I would like to do a similar study on other pairs also and will be happy to share the results on the forum. Your guidance and help is much appreciated. Those who has eyes.. and the interest, can SEE Others can complain... criticise and move on...!!!

Here are the results.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
  • #560
  • Aug 14, 2020 6:38am Aug 14, 2020 6:38am
Just to say, (don't want to put a spanner in the works) that the forex market is not robotic, automated. It's a market made up of many different HUMAN players with human emotions, one of which is greed! I heard it said that it takes only ONE person somewhere in the world to move price in a certain direction.

What I'm trying to say is that looking at the market from this human angle helps one to understand buying/selling FRENZY when any kind of levels mean very little. Sentiment is a huge driver of price action. I think we all tend to look at the market as sort of purely mechanical especially when one is trading technical indicators like most of us are.

ONLY trading when sentiment is very strong for or against a certain currency, commodity or metal has got to be the way to go. Completely forget about trading at any other times. Not so easy to do of course
0 traders viewing now