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  • #61
  • Aug 27, 2006 12:04pm Aug 27, 2006 12:04pm
Quoting Dan7974
No, I was just wondering if someone could please send me a private message telling me how there method works. I would REALLY appreciate that. This is what happens :

I win on demo. and lose on LIVE. Why???

Thank You soo much !!!
Dan.
You're not listening to everyone. For some reason, you think that you're head is on straight and it can't be your head.

Go read Douglas, then come back and post.
Mr. Trend
  • #62
  • Aug 27, 2006 4:45pm Aug 27, 2006 4:45pm
If you're profitable with play money, but lose with real money, what's wrong?

You're not alone, amigo. Trade micro lots and do 'systematic desensitization'. Get used to making and losing in micros. When you've become comfortable with that, bump up the money amount by small increments until--voila--you've tricked your head to stay out of the way.
  • #63
  • Aug 30, 2006 12:13am Aug 30, 2006 12:13am
Where is Douglas?
  • #64
  • Aug 30, 2006 12:19am Aug 30, 2006 12:19am
Quoting Dan7974
Where is Douglas?
http://www.amazon.com/gp/product/073...22444?n=283155
Mr. Trend
  • #65
  • Aug 30, 2006 1:57am Aug 30, 2006 1:57am
Dan,

Nobody i think will give their method to you. You need to find out yourself!. There is alot of method which is profitable like Sidus, Kolachi, Tlatomi etc. Learn and master the system. STick to one system which you are more confortable with it.

I ever experience like you. My account 3-5 time blow up. I don;t quit because i know there must be a way to win! try to find out! We people here only can give your advice from our experience.

So keep on thinking think think and think.

--
Sinar FX
" master your setup, master your self "
  • #66
  • Aug 30, 2006 5:16am Aug 30, 2006 5:16am
Dan the reason you lose with real money but win on demo is simple you dont have enough money to lose your afraid of losing it .

Many people on here i have seen write that they have been saving for a year 2000 dollars and want to start live trading i say forget it your emotional attachment to that money is so strong you will lose.
And so many people on here want to earn a wage straight away or have to to cover there bills. again forget it this will lead you to over leverage.

forget the systems part that is the easy bit
trading within your financional means is the hard part.

the amount that you lose on any trade should be small enough not to bother you in the slightest.only then can you accept losing as part of the trading day
  • #67
  • Aug 30, 2006 8:57am Aug 30, 2006 8:57am
Quoting dailydow
Dan the reason you lose with real money but win on demo is simple you dont have enough money to lose your afraid of losing it .

Many people on here i have seen write that they have been saving for a year 2000 dollars and want to start live trading i say forget it your emotional attachment to that money is so strong you will lose.
And so many people on here want to earn a wage straight away or have to to cover there bills. again forget it this will lead you to over leverage.

forget the systems part that is the easy bit
trading within your financional means is the hard part.

the amount that you lose on any trade should be small enough not to bother you in the slightest.only then can you accept losing as part of the trading day
Man this is so true. When I started trading live, I was profitable on demo but trading with real money was a different story. I was so afraid of loosing that I totally stopped trusting my system (which was working fine on demo), I was second guessing signals, waiting too long for too many confirmations, was desperate over every single pip that price went against my position ... and I finally found myself spending whole month in front of the screen, watching money go by without making a single trade, I was paralized with fear.

Then I read the "Trading in the Zone" !!! Man, that opened my eyes. The problem is not in the trading system, it's in my mind. The second step was to implement the proper money management, namely, opening small enough positions (comparing to the size of my account) so that even 20 or more losing trades in a row will not kick me out of the business, than I simply started following my system. And it's working !!

So now, when I open a trade, I put my SL and TP and go away relaxed, becuse I know that odds are in my favour but still anything can happen and if I loose that's just a normal thing, every business has it's expenses, tomorrow is another day ...

Dan, man, you don't need new trading system, you need to change the way you are thinking, when it comes to trading and the market. That will give you that edge you are so desperatelly looking for.

branac
  • #68
  • Feb 17, 2007 2:19pm Feb 17, 2007 2:19pm
USE MY POURIA METHOD IT WORKS, Pouria Method II will be out soon it will be alot better.
{Promotion Removed}
  • #69
  • Feb 17, 2007 3:00pm Feb 17, 2007 3:00pm
Quoting Thruline
If you're profitable with play money, but lose with real money, what's wrong?

You're not alone, amigo. Trade micro lots and do 'systematic desensitization'. Get used to making and losing in micros. When you've become comfortable with that, bump up the money amount by small increments until--voila--you've tricked your head to stay out of the way.
This is a very wise post. For anyone new I always suggest using Oanda. The reason why is that they can treat real money like it is play money. Just put .05c/pip in the market. Make 150 pips at that rate then put .10c. By the time you scale towards $10/pip or standard lots, you will be nearly immune to the emotions of trading. The reason why is because you do not move up from .05c until you can afford to lose at .10c.

So many people get mini accounts and trade $10/pip, even $1/pip to start will do it in for some. I know that I have at many times gone through 100 pip losses without a win. The 300 pip loss without a win has happened to me twice now. Let me tell you, it is not fun when that happens. If I had a mini account with $500 in it and was trading at $1/pip my account would be nearly done for. If I had $2000 account and was trading at $10/pip... there is no way! Start small and be flexible. Scale up, even if it means starting at .10c-.20c whatever it is you choose.

Again, very good post. I like that word "desensitization"
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #70
  • Edited 7:59am Feb 18, 2007 4:55am | Edited 7:59am
Quoting Dan7974
No, I was just wondering if someone could please send me a private message telling me how there method works. I would REALLY appreciate that. This is what happens :

I win on demo. and lose on LIVE. Why???

Thank You soo much !!!
Dan.
Dan, friend, hold on…

You are still asking for a miraculous system… Please understand that the problem is not with the system. With high probability I can say that you have problem with discipline.

And you can have even a 50 good reliable systems and you still lose money.

If you don’t have discipline every system will fail. In fact it is not the system who fails…


Read Remez Sasoon – “Will Power and Self Discipline” and go through all the exercises. You will gain strength to implement successfully your trading plan (you SHOULD have one). .

And don’t ask for a good system, I’ll bet that you know more good systems than everyone here.

Discipline, discipline, discipline plus “Trading in the Zone” by Mark Douglas

And the problem can be more serious – you might be addicted to trading and if so you should seek qualified help.

Look, do you want to waste 1, 2, 5 years more? Do you want to waste your life?

To me Forex is a part of life and if it decreases its quality it isn’t worth it. Think about your life, next days, months, years to come. Do you want to waste them? Why? Enjoy your life, don’t try to take revenge on the markets, its suicidal. Life is beautiful gift. Enjoy it. Hope you understand my English… J Take care Dan, I’ll pray for you.

Dot
Quidquid latine dictum sit altum viditur
  • #71
  • Feb 18, 2007 5:32am Feb 18, 2007 5:32am
i spent almost 10 hours per day to go through popular methods inside Trading System folder.the more i read from it,the more i get confused!!alot of good and simple system like Bago,Sidus,SRDC all are in my mind.i don't know where should i start to learn.whether tried all of it and stick with the one most suit me. i wonder how many of you trading with multiple method?will you get confuse and mess up with the rule?
  • #72
  • Feb 18, 2007 5:59am Feb 18, 2007 5:59am
Quoting branac
Man this is so true. When I started trading live, I was profitable on demo but trading with real money was a different story. I was so afraid of loosing that I totally stopped trusting my system (which was working fine on demo), I was second guessing signals, waiting too long for too many confirmations, was desperate over every single pip that price went against my position ... and I finally found myself spending whole month in front of the screen, watching money go by without making a single trade, I was paralized with fear.

Then I read the "Trading in the Zone" !!! Man, that opened my eyes. The problem is not in the trading system, it's in my mind. The second step was to implement the proper money management, namely, opening small enough positions (comparing to the size of my account) so that even 20 or more losing trades in a row will not kick me out of the business, than I simply started following my system. And it's working !!

So now, when I open a trade, I put my SL and TP and go away relaxed, becuse I know that odds are in my favour but still anything can happen and if I loose that's just a normal thing, every business has it's expenses, tomorrow is another day ...

Dan, man, you don't need new trading system, you need to change the way you are thinking, when it comes to trading and the market. That will give you that edge you are so desperatelly looking for.

branac
Follow this one, you will be a guarateed successful trader, seriously.
There is no short cut in becoming a pro trader. Pain is best enforcement for discipline. Disregard this if I'm wrong.
Shah For every action there is an equal and opposite reaction.....
  • #73
  • Feb 18, 2007 9:03am Feb 18, 2007 9:03am
Quoting amenlo9
i spent almost 10 hours per day to go through popular methods inside Trading System folder.the more i read from it,the more i get confused!!alot of good and simple system like Bago,Sidus,SRDC all are in my mind.i don't know where should i start to learn.whether tried all of it and stick with the one most suit me. i wonder how many of you trading with multiple method?will you get confuse and mess up with the rule?
I must agree. Also, people don't post profitable trading systems on public forums. 99% of what you read on these forums is crap. The other 1% is just bits and pieces that may be used to come up with something profitable. The systems posted in the Trading System section are almost always curve fit, especially the manual systems. Little backtesting is done and people always end up with different results because there is far too much discretion used. I also can't help but laugh when someone tells a newbie to start trading with one of the commonly used systems like Vegas. Vegas has made about 91 pips in the last 6 months. That's a sure way to lose your confidence.

There is a thread on another forum that I found informative: http://www.forex-tsd.com/general-dis...fessional.html

Read the posts by johnnydenver. Interesting methodology, and he's very successful with it, but he doesn't post anymore. Although I don't really like Elliot Wave, his other information is good.

I also suggest a move to stocks or index futures. Price action is much smoother and more predictable. No matter how much psychological help you get from Mark Douglas, you may still find difficulty in trading forex simply because the price action is so fuzzy and hard to understand.
  • #74
  • Feb 18, 2007 10:42am Feb 18, 2007 10:42am
Boy, we all go down this road at first. No one enters this arena winning all the time, every time. Unfortunatly the real answer is a boring one. Money management and leverage. Up to 400:1 leverage, Wow, think of the money we could make! (personally, I don't think anyone should ever go over 50:1. If you start losing money go to 20:1 or lower) . Trading 24-7 6 days a week, what could be better. But thats exactly why we lose money too. I'll bet you over trading empties more accounts than any other "mistake". I wanted to make money every day, all day. Afterwards I would tell myself I would be ahead if I only traded when everything looked good (after we lose money we say, why didn't I just wait). Sometimes that would only be several times a week (if that), not 10 times a day. Wait, wait and wait. Stop trying to make money every day. Pick something simple like support/resistance you can see on a chart (Daily, then 4hr, 1hr) Indicators support price action. If you get familar with price action then everything else won't seem as important. You'll begin to realize you don't need all those indicators. Next thing you know you'll have a system, you'll know what looks good based on experience, not some indicator. It's tough out there, only trade with money you can lose. If this was easy we would all be millionairs.
  • #75
  • Feb 18, 2007 11:59am Feb 18, 2007 11:59am
  •  Trader#0000
  • | Status: Unregistered Trader
I would try finding a long-term system using daily/weekly charts. I think it's much easier than intraday trading.

Also after big news it's easier to spot tops-bottoms. Look at the recent GBP rate hike. It went all the way up to 9900 and then down. You could have sorted at 9800 (which was near the former recent top) and gained some nice pips.

I'm not an experienced trader but I can see great potential in long-term trading.
  • #76
  • Feb 18, 2007 12:20pm Feb 18, 2007 12:20pm
Quoting ForexDude2
I would try finding a long-term system using daily/weekly charts. I think it's much easier than intraday trading.

Also after big news it's easier to spot tops-bottoms. Look at the recent GBP rate hike. It went all the way up to 9900 and then down. You could have sorted at 9800 (which was near the former recent top) and gained some nice pips.

I'm not an experienced trader but I can see great potential in long-term trading.
I'm not sure that's true. On daily/weekly charts, you're going to get much worse entries if your system enters at the close of a bar. Worse entries=bigger stops.
  • #77
  • Apr 30, 2007 3:20am Apr 30, 2007 3:20am
a silly methode of mine that works, it may not worked for many but me

http://www.forexfactory.com/showthread.php?t=26748

basically it is the minimum gain with maximum equity needed

it is soo silly that nobody reply to it..

but i do use it live.....
  • #78
  • Apr 30, 2007 4:21am Apr 30, 2007 4:21am
Well, now are you REALLY confused?

All the advice is right, and all of it is wrong. It depends on who is reading it. There may be some tidbits of good advice for YOU in all these posts if you can find them. And you don't know if the well-meaning writer is actually profitable or not in most cases.

All methods work, and all methods fail. A method works for some people, but may not be the right one for you.

"Trading in the Zone" is an excellent book, but it might convince you that all you have to do is think a certain way, then go out and win! Not true. You also have to know how to trade. Elder will have you going to AA. If that's what you need, then it will help you, if not, then it's a waste of time.

You need to take an honest look at what you're doing. You probably know what you're doing wrong.

If you can't find a mentor, pay one that will work with YOU and try to spot exactly what you're doing that is messing you up.

Or maybe just pretend there's one looking over your shoulder, imagine what they might say:

"Why did you just take that trade? Did you obey all the rules of your system? What system are you using right now? Or did you just feel like it might go your way? Did you use a system, or see what you thought was a move starting, and just jump in?"

Make your own list of questions to ask yourself. Keep a journal!!!!!! You will see recurring notes on trades that lost money.

April is my first month that will be flat or slightly profitable, depending on what I do today. I'm right at 0% for the month and that is a huge win. Here is what made the difference:

1. MONEY MANAGEMENT - no one trade is better than any other

2. MONEY MANAGEMENT - stop "loading up" to try to "make it back" or make a big kill. We'll learn in time when to load the boat. For now, stick to the rules.

3. Trade ONE SYSTEM. Obey the rules. When there is no setup, DON'T TRADE. Which system doesn't matter, just pick one, and trade micro lots. This is a discipline exercise to practice a. following the rules of a system. b. sitting on your hands when a trade isn't there.

4. Practice taking profits. I had watched many, many good trades turn into losers. "let your winners run" is easier said than done, and really is just another cliche. TAKE THE PROFIT. In time, we will learn better when to hold longer. Just get in the habit of taking profits, and be happy with what you get, even if it's one pip - you will NEVER blow your account taking 1 pip profits!

5. Did I mention MONEY MANAGEMENT? If you have a halfway decent system and use good MM, you should not blow your account.

6. Get out of losing trades faster. With the system I'm using, at least for this past month, if it doesn't go my way within a bar or two, it never does. So I've learned not to hang on and "hope". I've learned not to fear that as soon as I exit it will go my way. If it does, it does. There will be other trades. On this one, I kept my loss small or took a tiny profit, so I did the right thing.

My mentor tells me what he does, and some of it applies. Some of it causes the light bulb to go on, some doesn't, it doesn't fit my style and system. But listening to him has helped me to spot my problems and mistakes and turn my trading around.

I also have a trading partner. We bust each others' when we spot a mistake. He jumped into several trades early last week, before the signal was complete. I pointed it out to him at the time, I didn't take the trade, and at the end of the week when he wondered what happened, I reminded him of it, as nicely as possible. He warned me about taking a trade from a "guru" in March. He asked all the right questions, I didn't want to hear it, so I loaded up, and lost BIG.

Trade live, with small amounts. Keep a daily log, with at least the following: # trades, # of profitable trades, % gain.
  • #79
  • Apr 30, 2007 11:17am Apr 30, 2007 11:17am
Quoting blueruby
Well, now are you REALLY confused?

All the advice is right, and all of it is wrong. It depends on who is reading it. There may be some tidbits of good advice for YOU in all these posts if you can find them. And you don't know if the well-meaning writer is actually profitable or not in most cases.

All methods work, and all methods fail. A method works for some people, but may not be the right one for you.

"Trading in the Zone" is an excellent book, but it might convince you that all you have to do is think a certain way, then go out and win! Not true. You also have to know how to trade. Elder will have you going to AA. If that's what you need, then it will help you, if not, then it's a waste of time.

You need to take an honest look at what you're doing. You probably know what you're doing wrong.

If you can't find a mentor, pay one that will work with YOU and try to spot exactly what you're doing that is messing you up.

Or maybe just pretend there's one looking over your shoulder, imagine what they might say:

"Why did you just take that trade? Did you obey all the rules of your system? What system are you using right now? Or did you just feel like it might go your way? Did you use a system, or see what you thought was a move starting, and just jump in?"

Make your own list of questions to ask yourself. Keep a journal!!!!!! You will see recurring notes on trades that lost money.

April is my first month that will be flat or slightly profitable, depending on what I do today. I'm right at 0% for the month and that is a huge win. Here is what made the difference:

1. MONEY MANAGEMENT - no one trade is better than any other

2. MONEY MANAGEMENT - stop "loading up" to try to "make it back" or make a big kill. We'll learn in time when to load the boat. For now, stick to the rules.

3. Trade ONE SYSTEM. Obey the rules. When there is no setup, DON'T TRADE. Which system doesn't matter, just pick one, and trade micro lots. This is a discipline exercise to practice a. following the rules of a system. b. sitting on your hands when a trade isn't there.

4. Practice taking profits. I had watched many, many good trades turn into losers. "let your winners run" is easier said than done, and really is just another cliche. TAKE THE PROFIT. In time, we will learn better when to hold longer. Just get in the habit of taking profits, and be happy with what you get, even if it's one pip - you will NEVER blow your account taking 1 pip profits!

5. Did I mention MONEY MANAGEMENT? If you have a halfway decent system and use good MM, you should not blow your account.

6. Get out of losing trades faster. With the system I'm using, at least for this past month, if it doesn't go my way within a bar or two, it never does. So I've learned not to hang on and "hope". I've learned not to fear that as soon as I exit it will go my way. If it does, it does. There will be other trades. On this one, I kept my loss small or took a tiny profit, so I did the right thing.

My mentor tells me what he does, and some of it applies. Some of it causes the light bulb to go on, some doesn't, it doesn't fit my style and system. But listening to him has helped me to spot my problems and mistakes and turn my trading around.

I also have a trading partner. We bust each others' when we spot a mistake. He jumped into several trades early last week, before the signal was complete. I pointed it out to him at the time, I didn't take the trade, and at the end of the week when he wondered what happened, I reminded him of it, as nicely as possible. He warned me about taking a trade from a "guru" in March. He asked all the right questions, I didn't want to hear it, so I loaded up, and lost BIG.

Trade live, with small amounts. Keep a daily log, with at least the following: # trades, # of profitable trades, % gain.

nice insights it is the difference between life and death
  • #80
  • Apr 30, 2007 12:01pm Apr 30, 2007 12:01pm
I have a suggestion for you that I have seen from no one else. Everyone says, "Money management, money management, money management", but it can be very hard to figure out what this means (at least it was for me). Simply telling me to use X:1 leverage or use X% of my bankroll on each position is not a sufficient definition of money management. There's a lot more to it than that.

So here is what I did very recently that SERIOUSLY opened my eyes: Test your strategies against a Monte Carlo simulation. If you're not familiar with this, a Monte Carlo is simply a random simulation of price fluctuations. It has no tie in to the real markets, so it is not influenced by the particular tendencies of any given currency pair. Use this random simulation and see what happens to your money over time.

The point is very simple. Money management is independent of any particular trading strategy or any particular currency pair. Money management is, in many respects, a strategy unto itself. With this in mind, the scientific approach to improving your money management is to remove the other variables in the equation.

If you're trading against real market data (live, backtesting, demo, micro lots - whatever) it's hard to figure out how much of the failure is due to money management and how much of it is attributable to other market conditions. But if you're using a Monte Carlo simulation, then 100% of any success/failure is a direct result of money management. It has to be. There are no other variables in the equation. The data itself is just random. So you won't be perplexed by the maddening fluctuations of any particular currency.

Once you're mastered the Monte Carlo simulation (and yes, you CAN figure out ways to make money against a random simulation), then go back to working on live data. The point is that once you're comfortable making money against the Monte Carlo, you will know that your money management principles are sound. You will have mastered 80% of the equation. Then you can concentrate on some of the more specific aspects of trading any given pair.
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