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Strategy of losers

  • #221
  • Sep 27, 2022 7:02am Sep 27, 2022 7:02am
Quoting Kanderpro
{quote} Thanks for your response. It's a very broad question. The best I can come up with is that there's a lot of silly money out there, so have a set of rules that is consistently applied.
This still remains about you though- what I mean is what can you learn about how it's applied to the structure of how the market operates. You'll come back to it at some point no doubt.
  • #222
  • Sep 27, 2022 7:46am Sep 27, 2022 7:46am
Can relate to a lot of what is being said here. Initially I would be looking for breakouts, however a lot of those after a speedy move pull back. I would of course jump on the initial move and end up in the red with the pullback. Even if my stop is at a good spot fear would come in and I very often closed the trade in the red. Of course soon after price would resume the move and I would get pissed. At that point my brain would seize up and I would do a bunch more fomo and fear induced entries and exits. Took a lot of mental conditioning to overcome this.
  • #223
  • Sep 27, 2022 11:31am Sep 27, 2022 11:31am
Quoting Svetul4o
Can relate to a lot of what is being said here. Initially I would be looking for breakouts, however a lot of those after a speedy move pull back. I would of course jump on the initial move and end up in the red with the pullback. Even if my stop is at a good spot fear would come in and I very often closed the trade in the red. Of course soon after price would resume the move and I would get pissed. At that point my brain would seize up and I would do a bunch more fomo and fear induced entries and exits. Took a lot of mental conditioning to overcome...
The attached might be of some use. I found it on T721's thread where there's wisdom from him, and some other good stuff.
Attached File(s)
File Type: pdf Waiting for a Retest Will Make You a Better Forex Trader (2) (3).pdf   238 KB | 386 downloads
Thanks for your help, warmth and straight talking Heather.
  • #224
  • Sep 28, 2022 10:46am Sep 28, 2022 10:46am
Quoting Svetul4o
Can relate to a lot of what is being said here. Initially I would be looking for breakouts, however a lot of those after a speedy move pull back. I would of course jump on the initial move and end up in the red with the pullback. Even if my stop is at a good spot fear would come in and I very often closed the trade in the red. Of course soon after price would resume the move and I would get pissed. At that point my brain would seize up and I would do a bunch more fomo and fear induced entries and exits. Took a lot of mental conditioning to overcome...

No doubt, pullback trading for breakout setup is the best deal! Although, I depends on the supply and demand side!
  • #225
  • Edited 11:28am Sep 28, 2022 11:01am | Edited 11:28am
Quoting jonstewart
{quote} No doubt, pullback trading for breakout setup is the best deal! Although, I depends on the supply and demand side!
At this point my whole strategy revolves around pullbacks. Watching for the breakout is painful as the range can be hours long and there are always fake outs. I think that I've managed to deal with most of my inner demons as I have moved on from consistent small losses to consistent break even or small wins. Still, even though I'm working with a small account and any profits or losses are no more than a half dollar my heart still starts to pound when I place a trade. Need to clock in enough trades to remove most if not all emotion from the activity.

I guess someone will say to use a bot to remove all emotion, but that does not work for me. For one if I don't see what is going on with my trades I am constantly on edge and can't relax. Further more, I don't see any way to code my approach when it comes to PA shifting from trend to range. Further still, I view this activity a bit like a computer game and I would like to level up
  • #226
  • Oct 4, 2022 11:09pm Oct 4, 2022 11:09pm
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Real Trading is not gambling.
  • #227
  • Oct 5, 2022 6:05am Oct 5, 2022 6:05am
Quoting PeterCaleb
{image}
Well said.
I'm sure that resonates and is a conclusion that many of us have reached. The tortuous route to get there is probably what we all have to go through though. Trying someone else's perspective, whether that be their use of that oscillator, this trend line, pivots, time frames, etc. and coping with the herd on that thread, their weight of opinion, the sycophants, the discussions that disappear up their own backside etc. are almost essential steps in arriving at your realisation that no-one else is wired like you. Your individual wiring is why you've retained some elements of the numerous strategies/methods you've dipped in to and discarded many, many more.
Thanks for your help, warmth and straight talking Heather.
  • #228
  • Oct 6, 2022 9:14pm Oct 6, 2022 9:14pm
Quoting Kanderpro
{quote} Well said. I'm sure that resonates and is a conclusion that many of us have reached. The tortuous route to get there is probably what we all have to go through though. Trying someone else's perspective, whether that be their use of that oscillator, this trend line, pivots, time frames, etc. and coping with the herd on that thread, their weight of opinion, the sycophants, the discussions that disappear up their own backside etc. are almost essential steps in arriving at your realisation that no-one else is wired like you. Your individual...
OK. Allow me to point out here what you are talking about is an exclusive mindset and view on learning. Unfortunately the world is now full of people with this mindset and condition. This is just input, not trying to start an argument or debate or anything else. Just something to consider.


Peter
Real Trading is not gambling.
  • #229
  • Nov 1, 2022 4:50am Nov 1, 2022 4:50am
The best strategy for one who faces losses (i would not use the term losers because we are still constantly learning every day) would be to sit back and take a break for a while, observe the mistakes, learn from others or pay attention to the journals and then come up with the improved strategies. Last but not least is to stay positive.
  • #230
  • Dec 16, 2022 11:33am Dec 16, 2022 11:33am
Quoting triphop
Fair enough. It's a chicken and egg-fest. Self sabotage is the number one reason for blowing up. And the number one reason for self-sabotage is because we all (well most of us anyway) hate losing and love winning. And the most common reason for losing is over-leverage - either clawing back losses or thinking we're gods gift to trading and then finding out we're not. Over and under confidence. But once you've quelled your demons, steady returns still require a steady strategy. So in the end you either you fix the strategy which helps you limit the...
someone mentioned it could be more than the patterns. Lately I’ve been thinking this is true and that it has more to do with the emotions which create the patterns.. someone else then chimed in and messaged me to tell me that certain market participants will enter at different times. Can you help me make sense of this?
  • #231
  • Last Post: Dec 17, 2022 5:53am Dec 17, 2022 5:53am
Quoting LoseAlTrades
{quote} someone mentioned it could be more than the patterns. Lately I’ve been thinking this is true and that it has more to do with the emotions which create the patterns.. someone else then chimed in and messaged me to tell me that certain market participants will enter at different times. Can you help me make sense of this?
Not entirely sure I understand the question tbh, are you saying chart is made up of emotional waves? You can look at it like that - maximum pain theory, trying to shake you out of position, gunning for maximum stops etc. I prefer to look at it as a series of actions/reactions, buying and selling windows of time, but the two views do overlap.

As for market participants and timing, you'll have to be more specific. T1 are in 24/5 varying deal frequency according to both the window and the session (ie volume). And different participants make noise at different times; algo controlled repositioning always happens on data releases (as well as other times) which is why moves have got faster and faster at the moment of release.
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