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  • #21
  • Mar 6, 2008 3:53pm Mar 6, 2008 3:53pm
I think Davids going through the same pain I have.
I've been 'trying' to trade for 7 years and got to the giving up stage at least 4 times, usually just after my account was wiped out, 'again!'.
My search for the Holy Grail was equally fruitless and I have tried every indicator going.
But what I think I have discovered is that there is a holy grail.
In fact there are loads of them, but there is only one that will work for me.
Thats because mine is half system and half my psychological makeup and I believe that applies to everyone.
Its taken me a long time to find and I'm still refining it but I think I'm there.
Readin FF has helped me a lot because one of my problems was belief.
I just didn't believe that anyone could actually make a living from this game.
But you've only got to read some of the threads here to realise tht there are lots of guys out there making serious money.
And those guys have all found their own personal holy grail.
One last piece of advice - if your wife can read charts that well let her trade for you till you pick it up.
Pride has no place in trading - You need to admit when you're wrong and move on. Bit like marriage really.
Just my tuppence - hope it helps
all the best
Steve
  • #22
  • Mar 6, 2008 6:33pm Mar 6, 2008 6:33pm
Dont give up David, Take couple of days off and start with a fresh prospective. Hang in there, success will come.
Find an Edge. Only way to succeed in this business.
  • #23
  • Mar 7, 2008 8:48am Mar 7, 2008 8:48am
Quoting omnipadme
Don't laugh. S/R even works during NPF.

http://img85.imageshack.us/img85/9258/nfpkp4.jpg

Count back 3 candels that's the NPF candle. It closed near my S3 Short Camarialla Line and inside the SDX Channels so I took a short.
Try that with lagging indicators. L3 Long Camarialla which converges with the Central Pivot was a good target and reached very quick.

Chart is EUR/USD M30 btw
  • #24
  • Mar 7, 2008 8:52am Mar 7, 2008 8:52am
It seems David gave up already...
Trade what you see, not what you think.
  • #25
  • Mar 7, 2008 10:25am Mar 7, 2008 10:25am
forex is the hardest market to trade, it realy take skills and years to master, i haven't met a single forex trader that didn't go thru the giving up stage some gave up but the ones who work the hardest will benefit from there labor, if david want to give up so be it this is what forex do it eliminate the weak, only the strong survive.
If I Go Broke Trying Then I Will die happy.
  • #26
  • Mar 7, 2008 11:40am Mar 7, 2008 11:40am
Quoting Moe
forex is the hardest market to trade, it realy take skills and years to master, i haven't met a single forex trader that didn't go thru the giving up stage some gave up but the ones who work the hardest will benefit from there labor, if david want to give up so be it this is what forex do it eliminate the weak, only the strong survive.
exactly! the forex market has it's own ways and methods to eliminate all those not good enough, you "have" to prove yourself around the FX markets to find success...which is easier said then done...having said that let's see what stewrigh has to say:

Quote
I think Davids going through the same pain I have.
I've been 'trying' to trade for 7 years and got to the giving up stage at least 4 times, usually just after my account was wiped out, 'again!'.
My search for the Holy Grail was equally fruitless and I have tried every indicator going.
But what I think I have discovered is that there is a holy grail.
In fact there are loads of them, but there is only one that will work for me.
Thats because mine is half system and half my psychological makeup and I believe that applies to everyone.
Its taken me a long time to find and I'm still refining it but I think I'm there.
Readin FF has helped me a lot because one of my problems was belief.
I just didn't believe that anyone could actually make a living from this game.
But you've only got to read some of the threads here to realise tht there are lots of guys out there making serious money.
And those guys have all found their own personal holy grail.
One last piece of advice - if your wife can read charts that well let her trade for you till you pick it up.
Pride has no place in trading - You need to admit when you're wrong and move on. Bit like marriage really.
Just my tuppence - hope it helps
all the best

hmm....that's the way to go abt it! i am glad you did actually realized that trut abt the myth of "the holy grail"much before you spent each and every of your penny searching for it...

anyways David is'nt being around, if he was here he must have replied with some postive/negitive thoughts to any of the above posts...hmm maybe this was his last ever thread in FF...i wish i was proven wrong, Best of luck to him!
I believe . . .
  • #27
  • Mar 7, 2008 2:33pm Mar 7, 2008 2:33pm
Maybe his wife will start a thread in the Trading Systems folder. I'd like to see how she draws her SR lines.
  • #28
  • Mar 7, 2008 3:17pm Mar 7, 2008 3:17pm
Quoting mike w
With the attitude of a loser, that's exactly what you'll be. I hate to be blunt but its the truth. When I started out, I had a hell of a rough time, but I wouldn't give up and I'm still here and making a career out of trading. I know I can be something great and so that's what I'm going to do.

If you sincerely think you can't do it, then you can't. It's that simple. If you think you don't have the knowledge to do it successfully, then do something about it. That's all there is to it.
Don't wish for less problems, work to obtain more skill.
I'm with Mike on this.

America's first self-made billionaire, Henry Ford said it. To paraphrase him. "You think you can, or you think you can't - either way, you're right."
Not all sins are created equal
  • #29
  • Mar 7, 2008 6:34pm Mar 7, 2008 6:34pm
My "Attitude" often fluctuates more than my Equity.

This is Not about Changing your attitude to convincing yourself "You are a Winner & Nothing Will Stop You from Attaining Your Goals."
This, to me, was about discovering where my "Attitude" should be for Optimal Trading.

There are Days or Hours or even Weeks {very few of those} when I don't Trade because "My Attitude" has been affected by outside or inside circumstances that make me want to Force The Market.

My Curve got steeper when I finally understood this and learned to {sounds stupid, I know, but} be symbiotic With The Market.

Your Choice.
You can run a Jetboat Upstream or you can ride a Canoe Downstream.
Tickes are the same price.
Energy required is something else though.
  • #30
  • Mar 9, 2008 8:12am Mar 9, 2008 8:12am
This is an excerpts from the book written by Thomas L. Busby "The Markets Never Sleep"

ACCEPT LOSSES GRACEFULLY

Every trader has losses. In fact,if you are always right, you are probably not taking enough risk. No one has a crystal ball (except me!), and no one can predict with certainty the direction of the markets. Traders must analyze each situation as best they can and then act on the basis of the analysis. Sometimes you will be right and sometimes you will be wrong. The trick is to maximize profits when you are right and minimize losses when you have made a mistake (sounds like George Soros!). One of the most dangerous times for most traders to get into the market is after they have suffered a financial loss. Their mind is focusing on the loss and not on the current market action. Also, their goal is not to get a good trade but to get their money back. This leads them to take trades that are far too risky and dangerous. Remember that the markets never sleep. They will be open tonight, tomorrow, and next week. If there is not a good opportunity right now, there will be one later. It may be in a day or two, but a good trade will come. Be patient and wait for it. You can make more money, but maybe not in the next hour, or even the next day or week. Accepting loss is hard; no one likes to do it. But, if you intend to trade for the long term, you must understand and accept the reality that losing is a part of trading.
  • #31
  • Mar 9, 2008 3:37pm Mar 9, 2008 3:37pm
Quoting david_akc
Hi there,

Been a follower of this forexfactory and my god you guys are such a great giver so much so that I tried to copy and use most of your system and end up blur and broke.

I got into this trade because of a local course which I shouldn't mention. Next thing you know I buy something of the internet using pivots points by FXmentor. It is a great purchase unfortunately not for me. Me giving up soon, today EURUSD was such a wacko hitting both the estimated low and high which make me feel whack.

Good thing I am on demo but my wife with no prior experience can do better on the chart with resistance and support line then me with all this indicators and so much color, it makes me feel useless imagine 5 years down the road I have to depend on my wife to eat? Shucks

Quote
So today I shall report whatever decision I made based on my recent purchase of the FXmentor guide and book. Would appreciate if your seniors out there guide and criticise my work and report. Thanks again neal99 and Wicker your system kick ass but not mine.

David out
Ok David,
So what did you decide, or have you quit already???
Stew
  • #32
  • Mar 9, 2008 4:11pm Mar 9, 2008 4:11pm
don't listen to those who say don't quit David - give it up, it's the best thing you can do..

most of the trading world is a con. they say follow trends. they say play the range. they say let winners run and cut losses short. they say buy strength they say sell weakness. they say use pivots they say keep leverage low they say use stochastics they say use this indicator or that. they say use support and resistance. they say use tight stops. they say use loose stops. they say trade longer time frames they say trade intraday they say trade swing. they fill you full of so much crap that you dont know what the hell to do and then they say you'll learn in time

THEY don't make money. THEY are full of crap. Most of this crap is there as smoke and mirrors - like the casino they need you to be in the game as long as possible - the longer you are at the table the longer the odds are against you.

look for the quiet ones - they make money. they are rare and keep themselves to themselves only occasionally coming out for a peek.

You can only make money in this game if you are really really determined, have a shitload of luck and learn to think like a broker. takes about 5 years, a lot of money and a masochistic attitude. If you're thinking it's hard at this point just give up now and save yourself a lot of heartache.

Forex is a con game - most are victims, a precious few learn to manipulate the game. and when i say few, I mean few.

i'm sure there will be lots come on now and say 'i make this' and 'i make that' - see how long they are around. Forex is the home of BS. It's a con to 98% of the participants. of the remaining 2% 1% are the conmen and 1% manipulate with the law of large numbers.

you've made the right choice - give it up.
https://linktr.ee/Soultrader
  • #33
  • Mar 9, 2008 4:18pm Mar 9, 2008 4:18pm
Trade what you see, not what you think.
  • #34
  • Mar 9, 2008 4:30pm Mar 9, 2008 4:30pm
Quoting soultrader
don't listen to those who say don't quit David - give it up, it's the best thing you can do..

most of the trading world is a con...
You just broke my detector

http://i26.tinypic.com/2qv4188.jpg
Not all sins are created equal
  • #35
  • Mar 9, 2008 4:34pm Mar 9, 2008 4:34pm
Quoting Jay Walker
You just broke my detector
I think if you knew soultrader, you'd know he probably wasn't being sarcastic...
Carpe Divitiae
  • #36
  • Mar 9, 2008 10:04pm Mar 9, 2008 10:04pm
Yep, my Sarcasm Detector didn't even twitch.

Otoh, my Brutal Honesty meter just pegged out.
  • #37
  • Mar 9, 2008 10:14pm Mar 9, 2008 10:14pm
If you're even thinking about quitting, you have already lost. This profession is for the ultra-persistent and unbreakable. There are no exceptions.
  • #38
  • Mar 10, 2008 7:01am Mar 10, 2008 7:01am
Quoting blueruby

These are required:

Infinite persistance.
Man by definition is finite, so your first requirement is automatically obsolete.
  • #39
  • Mar 10, 2008 2:02pm Mar 10, 2008 2:02pm
Quoting soultrader
.......You can only make money in this game if you are really really determined, have a shitload of luck and learn to think like a broker. takes about 5 years, a lot of money and a masochistic attitude......
Thought provoking post; many thanks Soul.

David
  • #40
  • Mar 10, 2008 2:06pm Mar 10, 2008 2:06pm
Quoting forexmoments
Man by definition is finite, so your first requirement is automatically obsolete.
Who's definition?
Carpe Divitiae
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