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  • #3,581
  • Oct 3, 2020 10:52am Oct 3, 2020 10:52am
Quoting LauraT
New Journal Post - Defeating The Ego https://www.forexfactory.com/thread/...4#post13196744
Great addition to a great journal! Been lurking and reading for a while and never thought i would say these words to another lady again!: Laura you are the best thing that happened in my life by accident!! Hihihi! I am sure that you are a matured enough Lady to except the punt as it is meant!
Congrats on a fantastic threat! Subscribed and we will definitely meet again! Have a great rest of the weekend and stay healthy!!

Phillip
  • #3,582
  • Oct 3, 2020 10:58am Oct 3, 2020 10:58am
Quoting Goyatrade
{quote} Great addition to a great journal! Been lurking and reading for a while and never thought i would say these words to another lady again!: Laura you are the best thing that happened in my life by accident!! Hihihi! I am sure that you are a matured enough Lady to except the punt as it is meant! Congrats on a fantastic threat! Subscribed and we will definitely meet again! Have a great rest of the weekend and stay healthy!! Phillip
Danke Phillip Happy to hear you found it useful.
  • #3,583
  • Oct 3, 2020 2:08pm Oct 3, 2020 2:08pm
Quoting Goyatrade
{quote} Great addition to a great journal! Been lurking and reading for a while and never thought i would say these words to another lady again!: Laura you are the best thing that happened in my life by accident!! Hihihi! I am sure that you are a matured enough Lady to except the punt as it is meant! Congrats on a fantastic threat! Subscribed and we will definitely meet again! Have a great rest of the weekend and stay healthy!! Phillip
Google is a bad translator.
I doubt Laura has a small flat bottomed boat for messing about on the river.
Fantastic Threat ? Laura has not threatened anyone.
Sorry -couldn't resist
Enjoy the rest of your weekend.
every Saint has a past. Every Sinner has a Future
  • #3,584
  • Oct 3, 2020 2:24pm Oct 3, 2020 2:24pm
Well spotted!, Not translatorīs fault! My own bad! Thread?? Will save it for future!
Nice weekend too!!
Quoting turnip15
{quote} Google is a bad translator. I doubt Laura has a small flat bottomed boat for messing about on the river. Fantastic Threat ? Laura has not threatened anyone. Sorry -couldn't resist Enjoy the rest of your weekend.
  • #3,585
  • Oct 3, 2020 4:30pm Oct 3, 2020 4:30pm
Quoting Wightoil
I am coming from the other side of only trading the daily/4hr TF with pure PA. To trading the 5 mins with the roadmap - that way I still don't make a profit, but I don't make it quicker The SL has bitten me twice this week as I don't quite set a disaster stop but set it much further than I would normally - that way I lose when it should have been wider and I lose when I am not paying attention and it goes against me - which I am learning can be pretty quick at these time frames . Also re-learning to position size properly as previously...
If you are unsure on the lower timeframes, then I would suggest sticking to the basic FX pairs, as opposed to the indices, especially DAX, as they - and The DAX for sure - can bite you hard and really fast if you are not used to running them. They are NOT like normal FX pairs, honestly.

Or not. As always, each makes their own call.
  • #3,586
  • Oct 3, 2020 5:01pm Oct 3, 2020 5:01pm
Quoting lemercenaire
{quote} If you are unsure on the lower timeframes, then I would suggest sticking to the basic FX pairs, as opposed to the indices, especially DAX, as they - and The DAX for sure - can bite you hard and really fast if you are not used to running them. They are NOT like normal FX pairs, honestly. Or not. As always, each makes their own call.
Thanks useful to know. TBH I got bored with straight Forex and was very much into commodities and commodity related Forex pairs - hence the Copper in my next post - old habits and all that. I'm sure the DAX can't be worse than Natural Gas - which is a lot of fun but the daily finance is over 300% /100 units so not playing there right now. Options based CFD's financing cost can bite really hard.
However I am very much feeling my way on the shorter TF's so will watch out for the indexes - advice appreciated. Though just to clarify SL in the quoted post was Stop Loss...

  • #3,587
  • Oct 3, 2020 5:10pm Oct 3, 2020 5:10pm
Quoting Wightoil
{quote} Thanks useful to know. TBH I got bored with straight Forex and was very much into commodities and commodity related Forex pairs - hence the Copper in my next post - old habits and all that. I'm sure the DAX can't be worse than Natural Gas - which is a lot of fun but the daily finance is over 300% /100 units so not playing there right now. Options based CFD's financing cost can bite really hard. However I am very much feeling my way on the shorter TF's so will watch out for the indexes - advice appreciated. Though just to clarify SL in the...
Oh if you have traded NG, then lol, I am preaching to the choir!

In all seriousness though - and probably more for the newer traders on here than yourself - if you want to make money, boring can be good. This is, after all a business. If it makes you money, keep on doing it until it stops doing so.

Natural Gas...nice one!
  • #3,588
  • Oct 4, 2020 4:10am Oct 4, 2020 4:10am
Just a comment on the following from Laura's journal:

Seek consistency. To win consistently you must first lose consistently. Only by repeating the same things over and over will you learn what works and what doesn't. FF is full of traders who jump from one strategy to another. In doing so, they remove the ability to gain any sort of consistency of approach. Seek consistency not only in your behaviours but in your mindset. Consistent execution can only happen within the framework of consistent mindset.

Naturally I can see the point being made, but IMHO I have not seen many strategies on FF which have much of an edge or any edge at all. It is often a journey of identifying and absorbing what is useful and discarding what does not work, to paraphrase Bruce Lee. Not to mention the subjective aspect of different strategies suiting different personalities.

So jumping from one strategy to another is understandable and logical if a new trader is seeking out a profitable one and discarding the many which are useless, or perhaps developing their own strategy based on what works. Then when you can apply an edge, I'm sure consistency is important as Laura says.
  • #3,589
  • Edited 8:11am Oct 4, 2020 7:54am | Edited 8:11am
Quoting Zimbinga
Just a comment on the following from Laura's journal: Seek consistency. To win consistently you must first lose consistently. Only by repeating the same things over and over will you learn what works and what doesn't. FF is full of traders who jump from one strategy to another. In doing so, they remove the ability to gain any sort of consistency of approach. Seek consistency not only in your behaviours but in your mindset. Consistent execution can only happen within the framework of consistent mindset. Naturally I can see the point being made, but...
I think the point is that you need to give a system time to work.. That's where trading exercises come in handy. If you've tried a set-up 20 times and find that you're losing significantly more than you're winning, and you can't identify any execution errors, then of course it makes sense to move on.. This could be because the system is not for you, or because the strategy just isn't feasible long term.

However, I think we've all been guilty of glancing at a system, comparing the suggested set-up to a couple of our charts, and instantly disregarding it as unprofitable. I think this strategy in particular incorporates a lot of subtle (but important) nuances that will take time to digest and understand.

I totally agree with you regarding finding your own edge, even using an existing system. Some set-ups will work for you, whilst you may feel really uncomfortable taking others. The worst thing to do is take those trades anyway.

I've started trading elements of Roadmap with increasing success, but certain types of entries I will leave alone until I have sufficient belief in them personally. I have no reason to doubt that they work, seeing many are doing well with them, but trading them without a solid trust in my statistical edge would make me doubt myself the whole way through.. And that, as I can confirm from personal experience, is the worst place to be as a trader.

Hope everyone is having a good weekend - could be wild ride on the markets for the forseeable!
  • #3,590
  • Oct 4, 2020 10:34am Oct 4, 2020 10:34am
Quoting Zimbinga
Just a comment on the following from Laura's journal: Seek consistency. To win consistently you must first lose consistently. Only by repeating the same things over and over will you learn what works and what doesn't. FF is full of traders who jump from one strategy to another. In doing so, they remove the ability to gain any sort of consistency of approach. Seek consistency not only in your behaviours but in your mindset. Consistent execution can only happen within the framework of consistent mindset. Naturally I can see the point being made, but...
You're right to highlight that sentence. "Full of traders who jump from one strategy to another" is an over-generalisation. I should have said FF contains a number of traders who move from system to system

I acknowledge the point you make about the logic contained in taking the 'best' parts from individual strategies and using them as building blocks for an eventual systemic edge of your own. If everyone is doing that, great. But I think you know the point I was attempting to convey. There can be a general impatience attached to learning a new methodology. That if it doesn't deliver instant profit the strategy is flawed rather than it perhaps being a case of the trader not yet being well versed enough to take full advantage of it. Which is a shame as they might be missing out on something that literally changes their lives.
  • #3,591
  • Oct 4, 2020 10:51am Oct 4, 2020 10:51am
Quoting LauraT
{quote} But I think you know the point I was attempting to convey. There can be a general impatience attached to learning a new methodology. That if it doesn't deliver instant profit the strategy is flawed rather than it perhaps being a case of the trader not yet being well versed enough to take full advantage of it. Which is a shame as they might be missing out on something that literally changes their lives.
Yes I agree. It takes a lot of practice & discipline and right psychology as you say.
  • #3,592
  • Oct 4, 2020 1:48pm Oct 4, 2020 1:48pm
Quoting LauraT
{quote} You're right to highlight that sentence. "Full of traders who jump from one strategy to another" is an over-generalisation. I should have said FF contains a number of traders who move from system to system I acknowledge the point you make about the logic contained in taking the 'best' parts from individual strategies and using them as building blocks for an eventual systemic edge of your own. If everyone is doing that, great. But I think you know the point I was attempting to convey. There can be a general impatience attached to...
It is also important to understand that there is no trading system that can guarantee no losses.
You might decide to try a new system at a time when it will produce losses. It is not to say that the system is flawed. This is why it is so important to trade a system on demo or paper trade for at least a year before you can make a call if the system will be profitable for you. Only after you have determined this, should to use real money.
  • #3,593
  • Oct 5, 2020 3:16am Oct 5, 2020 3:16am
A nice 20 pip breakfast
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  • #3,594
  • Oct 5, 2020 3:45am Oct 5, 2020 3:45am
got the same one

entry after the retest of daily open(simple chanel cross), close at yesterdays high. dont really like this types of trades, because of stong push and small pullbacks, it gives small risk/reward. but we got what we got...
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  • #3,595
  • Edited 4:32am Oct 5, 2020 4:21am | Edited 4:32am
trying another...

bailed for-10
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  • #3,596
  • Oct 5, 2020 4:33am Oct 5, 2020 4:33am
Quoting iak
trying another... {image}
dont like it... to be honest

but a have got my own 'not great' trade on brent...
and it was because of fear of loses, can find now a lot of technical explanation of that mistake! but i know it was fear, so no excuses for that! just throw the discipline away
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  • #3,597
  • Oct 5, 2020 4:34am Oct 5, 2020 4:34am
Quoting Frost99
{quote} dont like it... to be honest but a have got my own 'not great' trade on brent... and it was because of fear of loses, can find now a lot of technical explanation of that mistake! but i now it was fear, so no excuses for that {image}
yep, i should have left it alone. All a learning process i guess.
  • #3,598
  • Oct 5, 2020 5:25am Oct 5, 2020 5:25am
short on 8ema channel breaking 200
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  • #3,599
  • Oct 5, 2020 5:32am Oct 5, 2020 5:32am
Quoting iak
short on 8ema channel breaking 200 {image}
there is no sell structure in my opinion. need wait for a while. and we dont need to get all the signals of the system))
  • #3,600
  • Oct 5, 2020 5:49am Oct 5, 2020 5:49am
Quoting iak
short on 8ema channel breaking 200 {image}
I'd suggest trading 5m timeframe rather than 1m and adding the RSI Trend Band. The RSI reading is currently 62 so I wouldn't be looking for shorts.
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