Remember, we must "let go and move on".
Now will there be another mile diatribe in response from people so wise and all-knowing or will there be talking about trading - the point of FF.
I guess I will go backing to "making my millions". cya.
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DislikedParanoi-a will destroy-a. It was a little attempt at humor. I no sooner dare to question the great one, that your other half scurried around Forex Factory and copy/pasted mine and SL's posts. The CIA should have as expert a surveillance agent as that.
Remember, we must "let go and move on".
Now will there be another mile diatribe in response from people so wise and all-knowing or will there be talking about trading - the point of FF.
I guess I will go backing to "making my millions". cya.Ignored
Quoting SeekingLightDislikedP.S. I was only arguing a point, not fti. And since it seems there's been around a dozen or so posts, pms and email excitement over all this I am fine if everything just moves on without me, too.
I just replied because fti wrote that he wanted to know what I think about this a few posts back. Nobody needs to agree with me; I am merely explaining myself.Ignored
DislikedHi SL, lol
Interesting post, allright here is my 2c, this is based purelly on my personal experience. You make a very good point to create the plan and then trade it, absolutelly, I agree. But let's consider this for a moment, let's say that when you had made your plan you had limited information, the situation had given you clues and you had acted upon those clues in the manner that was justifyable for the moment, but lets also say that after the decision was made the situation had changed somewhat, your original plan now, in the current time frame has to be adjusted, and since the plan has to be adjusted the same will apply for rules/stop losses minimizing the risk, etc. Now here is the point that I'm trying to make, and you had mentioned it too about irrational, emotional decisions, if you trade off of monthly chart you have plenty of time to analyse and build your model, weekly, a little less, daily more so, and so forth, Each time frame gives clues, ideas, etc. The point here is that it is very difficult to be able to grasp the amount of information that is presented to you in a very short time frame, if the situation changes you should/compelled to act.Ignored
QuoteDislikedThere are times when I feel simply exhausted, burned out in the middle of the trade, in the past I had done everything from moving the stop loss, adjusting the limit, reanalysing and taking another position. Now if this happens I do just one thing and one thing only, I force myself, force, note the word, to concentrate on the immeditate trade, analyse it with a clear perspective and close it off manually.
QuoteDislikedWhether it's in profit or loss does not matter, what matters is that I try to find the ability to do just one more thing before I switch off, there is always another day.
QuoteDislikedSo I think when you are speaking about rules you do have the same perspective you are just afraid to say that the rules change, perspectives change, etc.
DislikedHi pips_crusier,
I guess you're right. Too entranched into controlling risk.
Was surprised that came from a "Pro" trader. esp, a matured one.
regardsIgnored
DislikedLeigh…..Your absolutely right I was far too kind to Zoran…Pull your self together Zoran you should know better fancy making an obvious mistake like that you were just far to gung hoe, don’t let it happen again.Ignored
DislikedOkay, people, I do see fti's concern with sharing his MM and strategy due to he is worried that he cannot babysit each trader (especially the less skilled ones) like he did with his trainee dealers previously. So, with that being said, EVERYONE has to make sure that they use their smarts when implementing any of what will be disclosed with his MM and strategies. It might not be for everyone, in fact, I know it will not be for everyone until you develop your skills, so I repeat ... take whatever you can from this thread that you can implement for wherever you are in your trading level and GO SLOW for those less skilled!Ignored
Quoting ZoranDislikedI'm just waiting to learn fti's system and when it doesn't workIgnored
Quoting WolfDislikedLeigh…..Your absolutely right I was far too kind to Zoran…Pull your self together Zoran you should know better fancy making an obvious mistake like that you were just far to gung hoe, don’t let it happen again.Ignored
Quoting ZoranDislikedThat's better Chris! How dare I post my analysis when others are at risk?!?!? I must ensure 100% accuracy without failure so now I owe some pips. I'm just waiting to learn fti's system and when it doesn't work, I'll claim them back and pay my dues! Why else do you think I've left the threads?Ignored
DislikedSo, this is the beginning of Money Management.
Go on fti please, we are very grateful for your teaching.Ignored
DislikedHi David
Your thinking seems to be one step ahead of me. I'm not sure fti was getting into MM just yet, but I'm not fti so I can't be sure. I always thought patience is a very important trader trait.
Although GBP/JPY is my pet pair, I do follow cable (GBP/USD). I have attached my weekly chart and I tend to follow the trend until one of those lines are touched. I then expect a reversal but if the action shows otherwise, a break can indicate a nice continuation. So, i'm wondering how much longer this pair will continue within that channel (dark blue)? There is still some important support in the picture. The purple lines are my historical levels on the monthly.
So I have 6 lines on my chart... do you think it's overdressed? Perhaps fti can comment? I'll attach my monthly just for completion. Those lines have produced some nice profit, but I've had to be patient.Ignored
DislikedAs compared to your usual posted chart analysis, u r beginning to learn to be a streaptease now.....no more butterfly and make up stuffs....Ignored
DislikedHi ALL,
before we go on, I think I should mention this.
A long time ago.
Mr. Welles Wilder taught me this.
This is not new.It was old when the Phoenicians were trading with the Romans and the Greek Philosopers cornered the olive oil market. This is the concept.
The percentage gain it takes to recover a loss increases geomatrically with losses.
The concept is as the following table
% Loss intial capital % profit required to Recover
5----------------------5.3
10----------------------11.1
15----------------------17.6
20-----------------------25
25----------------------33.3
30----------------------42.9
35----------------------53.8
40----------------------66.7
45----------------------81.8
50----------------------100
55----------------------122
60----------------------150
65----------------------186
70-----------------------233
75------------------300
80------------------400
85------------------567
90------------------900
The % gain required to to come back to balance (break even) will increase gemetrically with your losses.
if you loss 20% of your capital. you will have to make 25% to come back to breakeven.
However if you lose 50% of your capital, you have to make 100% to come back to break even.
So please be careful with your trading.
regards.
PS: I need to take a nap, so this is the last post for today.
Think about it.Ignored
Quoting SeekingLightDislikedPersonally I am starting to think it's a flaw of mine. It's trying to perpetually help people that never asked to be helped in the first place and that's a bit too "missionary" like. It also means I'm too much involved and trying too hard to "prevent from doing evil" or something. Detachment is still my last biggest hurdle and I think it shows in the frantic news comment behavior. I'm going to try cutting down more - I've already almost posted/then deleted and closed half of the stuff I almost would have put up on other things(not only on news items but also on normal FF threads)..simply because I end up thinking "heck, it's not going to make a difference anyhow, people will find out the hard way". Usually you get the opposite of gratitude anyhow.Ignored