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(binned per thread starter’s request) 29yrs Trading & Still Here

  • #181
  • Sep 9, 2022 3:45pm Sep 9, 2022 3:45pm
Nice thread, cool info. Amazed that this stuff actually works long term. Keep it up. Might learn a thing or two
How to succeed in zero sum game?
  • #182
  • Sep 9, 2022 3:52pm Sep 9, 2022 3:52pm
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  • #183
  • Sep 9, 2022 3:54pm Sep 9, 2022 3:54pm
Quoting dempire1
Nice thread, cool info. Amazed that this stuff actually works long term. Keep it up. Might learn a thing or two
Thanks pal drop by any time
  • #184
  • Sep 9, 2022 4:27pm Sep 9, 2022 4:27pm
The market is on support and im buying.. Lesson = always define your risk, if it falls you were willing to lose it anyway
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  • #185
  • Sep 9, 2022 4:37pm Sep 9, 2022 4:37pm
Quoting T721
{image}
This is very true. My friends tell me that trading is a gamble, and I tell them that everything in life is a gamble. We borrow money from the bank to buy a house, and this is a very big gamble because paying back the money depends on us keeping a job. But we know that jobs can end and you can't repay the bank and the house is gone. You gambled and you lost. Everything is a gamble. It depends on us to try and see what could happen in the future and to plan for it.

On a different part, there is a talented poker player, Tom Dwan. I have watched him playing quite a lot and he has been in some hands that has more that $500,000 on the table. Many of these big hands, he wins. But some, he loses. Sometimes several hands in a row. But he is strong and he can still play well and not let the big losses change his plan for the current hand. I try to be like this too. Tom knows that he can not win every hand. He also knows that he does not need to. He just needs to win more than he loses. Is a simple concept and I try to do this too.
I am neither brave nor stupid...I am just a part time trader
  • #186
  • Edited 5:22pm Sep 9, 2022 5:11pm | Edited 5:22pm
Quoting Indiara
{quote} This is very true. My friends tell me that trading is a gamble, and I tell them that everything in life is a gamble. We borrow money from the bank to buy a house, and this is a very big gamble because paying back the money depends on us keeping a job. But we know that jobs can end and you can't repay the bank and the house is gone. You gambled and you lost. Everything is a gamble. It depends on us to try and see what could happen in the future and to plan for it. On a different part, there is a talented poker player, Tom Dwan. I have watched...
Thanks for your post , Exactaly he wins more than he loses and it doesnt phase him when do does lose. He doesnt lose everything and still has the chips to keep going so protecting himself at all time. Trading is the same thing. 1 bad trade, 2 bad trades even 3 bad trades should not define you. Everyone gets them and im no different i am just more comfortable with losing, Trading with an edge is not gambling, your trading probability based on your strategy.

A losing trade doesnt make you a loser, staying in and adding to that trade hoping iturns makes a loser = no when to fold em !

Going to bed. Its 1.2am in Edinburgh. Goodnight and may next week be green for us all
  • #187
  • Sep 9, 2022 5:24pm Sep 9, 2022 5:24pm
Quoting T721
A losing trade doesnt make you a loser, staying in and adding to that trade hoping iturns makes a loser = no when to fold em !
Yes!!!

I have seen people here at FF who do exactly that. When their trade goes bad, they add another trade....and another....and another. I have seen people here who throw away the whole account and is not necessary. They are afraid to lose a little bit, and that fear makes certain that they will lose everything. This is crazy. If I am wrong in my trade, then I am wrong. Adding more won't make wrong go away, it will just make me more wrong.....if that makes sense!
I am neither brave nor stupid...I am just a part time trader
  • #188
  • Sep 9, 2022 5:25pm Sep 9, 2022 5:25pm
Quoting T721
Going to bed. Its 1.2am in Edinburgh. Goodnight and may next week be green for us all

Good night....nice dreams
I am neither brave nor stupid...I am just a part time trader
  • #189
  • Sep 9, 2022 5:31pm Sep 9, 2022 5:31pm
Quoting Indiara
{quote} Good night....nice dreams
thank you
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  • #190
  • Sep 9, 2022 6:01pm Sep 9, 2022 6:01pm
Quoting Indiara
{quote} Yes!!! I have seen people here at FF who do exactly that. When their trade goes bad, they add another trade....and another....and another. I have seen people here who throw away the whole account and is not necessary. They are afraid to lose a little bit, and that fear makes certain that they will lose everything. This is crazy. If I am wrong in my trade, then I am wrong. Adding more won't make wrong go away, it will just make me more wrong.....if that makes sense!
very well said and so true , and most times its patience the need to learn
people leave, but this thread will go on for ever
  • #191
  • Edited Sep 10, 2022 1:13am Sep 9, 2022 11:46pm | Edited Sep 10, 2022 1:13am
Quoting T721
{quote} Thanks for your post , Exactaly he wins more than he loses and it doesnt phase him when do does lose. He doesnt lose everything and still has the chips to keep going so protecting himself at all time. Trading is the same thing. 1 bad trade, 2 bad trades even 3 bad trades should not define you. Everyone gets them and im no different i am just more comfortable with losing, Trading with an edge is not gambling, your trading probability based on your strategy. A losing trade doesnt make you a loser, staying in and adding to that trade hoping...
We all need to have the same definition of the " gamble" before we can say that something is not gambling, I personally think that if you are not 100% sure of the outcome then its a gamble, not saying I'm right but just have a different view to yours, also I think you need to know how someone trades/gambles before you can call them a loser, I frequently added to losing positions does that make me a loser, not looking for a fight just a good discussion and clarity
  • #192
  • Sep 10, 2022 1:44am Sep 10, 2022 1:44am
Quoting T721
Trading is the same thing. 1 bad trade, 2 bad trades even 3 bad trades should not define you. Everyone gets them and im no different i am just more comfortable with losing, Trading with an edge is not gambling, your trading probability based on your strategy. A losing trade doesnt make you a loser, staying in and adding to that trade hoping iturns makes a loser = no when to fold em !
On FF, if anyone show just one losing trade, he's a loser. And you read a group of rogue members who hype their 90+% win rate. Their supporters join in the cheering and jeering. That's why most people don't post live trades. Cheers
Know what you trade
  • #193
  • Sep 10, 2022 1:50am Sep 10, 2022 1:50am
Quoting Indiara
Yes!!! I have seen people here at FF who do exactly that. When their trade goes bad, they add another trade....and another....and another. I have seen people here who throw away the whole account and is not necessary. They are afraid to lose a little bit, and that fear makes certain that they will lose everything. This is crazy. If I am wrong in my trade, then I am wrong. Adding more won't make wrong go away, it will just make me more wrong.....if that makes sense!
When you post your live trades on FF, one bad trade makes you a loser that's what most people think. So more trades added as a result in the hope to hit a big win to recover the loss trade, to shed this loser image. That's why don't post live trades on FF. Why this added pressure? Cheers
Know what you trade
  • #194
  • Sep 10, 2022 2:25am Sep 10, 2022 2:25am
Quoting BWilliam
{quote} When you post your live trades on FF, one bad trade makes you a loser that's what most people think. So more trades added as a result in the hope to hit a big win to recover the loss trade, to shed this loser image. That's why don't post live trades on FF. Why this added pressure? Cheers
I understand what you say, but to me there is no added pressure because I didn't join FF to impress anyone. I joined to share my trades as they happen and to make some friends.

I can not help what people think of my results, so I am not concerned about that. My ability to grow my account is what matters to me, not what someone else thinks. If people judge me by a few losing trades, but can not be bothered to look back on all my charts which show all trades, then it is they who lack the ability to find all the facts before they make their judgement of me. I think in that case, they must be the true loser!

Perhaps I should keep a count of my trades in pips count, and post my pips total and the end of each month? That might help people to see the picture more clearly. What do you think?

Indiara
I am neither brave nor stupid...I am just a part time trader
  • #195
  • Sep 10, 2022 2:34am Sep 10, 2022 2:34am
Hey guys, anyone want to discuss trading on a zoom call. be much better than typing here. be good to get to know each other a bit
  • #196
  • Sep 10, 2022 2:36am Sep 10, 2022 2:36am
Or if any of the more experienced traders want to post something about their years in trading would be greatly appreciated. it will help newer traders learn a bit quicker
  • #197
  • Sep 10, 2022 2:39am Sep 10, 2022 2:39am
Hi Indiara, we are only responsible to ourself. I always jot down my chart analysis and how I feel in a journal. This include the pips count, lot size and $value. Then complete my review at the end of the day. It's a standard practice. Cheers
Know what you trade
  • #198
  • Sep 10, 2022 2:46am Sep 10, 2022 2:46am
Quoting Indiara
{quote} I understand what you say, but to me there is no added pressure because I didn't join FF to impress anyone. I joined to share my trades as they happen and to make some friends. I can not help what people think of my results, so I am not concerned about that. My ability to grow my account is what matters to me, not what someone else thinks. If people judge me by a few losing trades, but can not be bothered to look back on all my charts which show all trades, then it is they who lack the ability to find all the facts before they make their...
Thanks for taking the time to post here. Pips, now that would make a good discussion as we all trade differently, have different targets in pips, and some look for a %age, others are maybe scalping for 5 - 10 . Personally im looking for minimum 100 for a day trade and i build multiples. i have had a great time this year with GU swings. it would probably frighten some to know i can be upside down hundreds of pips and still add if its a swing trade

I scale into tops and bottoms . sometimes they are not tops or bottoms but thats when risk comes i and to be totally honest its the only reason ive lasted so long
  • #199
  • Sep 10, 2022 3:14am Sep 10, 2022 3:14am
Quoting Indiara
{quote} I understand what you say, but to me there is no added pressure because I didn't join FF to impress anyone. I joined to share my trades as they happen and to make some friends. I can not help what people think of my results, so I am not concerned about that. My ability to grow my account is what matters to me, not what someone else thinks. If people judge me by a few losing trades, but can not be bothered to look back on all my charts which show all trades, then it is they who lack the ability to find all the facts before they make their...
hi @Indiara

there are those for and against showing trades and trading performance.

you will read about them here:
Show Trade Explorer, why Yes or why Not...
https://www.forexfactory.com/thread/457918-show-trade-explorer-why-yes-or-why-not

I asked FF to allow CUG for members who want to share their Trader Explorer with only likeminded members but FF never got to allowing CUG.

Therefore, I prefer to us FXBlue where you can create a white list of members whom you want to share your trades and performance.
https://www.fxblue.com/
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #200
  • Sep 10, 2022 4:06am Sep 10, 2022 4:06am
Quoting T721
Hey guys, anyone want to discuss trading on a zoom call. be much better than typing here. be good to get to know each other a bit

Sorry, I didn't mean to be rude and ignore your invitation. I have a lot of people here and we are all making music, I hope the people next door agree! I am just sneaking away to post here when I get a break
I am neither brave nor stupid...I am just a part time trader
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