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  • #1,101
  • Mar 24, 2009 7:20am Mar 24, 2009 7:20am
Quoting elitejets
I was going to change the title to "making pips is easy, making money is hard" because that has been my experience thus far.
I know a lot of very knowledgeable people tell you to demo demo demo until you are profitable but I wanted to explain what happened to me and what I think happens to a lot of people. Demo is easy psychologically and real money trading can be very hard!

Most people know I started life as an air traffic controller. I'm pretty good at following rules and I can stare at a wiggly line on a screen all day without losing it and...
Once again, very well said. I agree wholeheartedly, I think demo accounts are helpful to learn a system and a trading platform but nothing simulates having money on the line. Even if it's nano account for a penny a pip.
  • #1,102
  • Mar 24, 2009 7:25am Mar 24, 2009 7:25am
Hi Strat
I am so very determined to succeed, I have put hours of study to educate myself and many, many more will continue. I strive to learn and I have a thirst for knowledge, I have learnt so much from this thread & J16 and so much to thank you both for, and I know that my knowledge will continue to grow & grow. I am gaining in confidence day by day, I couldn't expect to be a fully qualified surgeon without studying! I will walk the walk from the talk the talk. After reading your post on accepting the Loss I have changed my trading plan sheet,; ' £ Loss' & 'Confirm happy with risk' I have to tick to accept! This psychology helps me now to 'Plan, Place & Walk Away'
  • #1,103
  • Mar 24, 2009 7:41am Mar 24, 2009 7:41am
Quoting elitejets
I was going to change the title to "making pips is easy, making money is hard" because that has been my experience thus far.
I know a lot of very knowledgeable people tell you to demo demo demo until you are profitable but I wanted to explain what happened to me and what I think happens to a lot of people. Demo is easy psychologically and real money trading can be very hard!

Most people know I started life as an air traffic controller. I'm pretty good at following rules and I can stare at a wiggly line on a screen all day without losing it and...
Nicola, Thank you so much for this post and your honesty.

If you (not just Nicola, but those reading this), understand the psychology aspect of trading, which I will say again, CONTROLS 90% of your success in trading, then you will understand why I do not want people posting how many pips they have made etc.

I have witnessed it and been told it after the fact, people who post on threads about how many pips they have made, are on a HUGE EGO trip, they are FOOLING THEMSELVES, they NEVER disclose how much they have LOST, which is usually FAR GREATER than they win.

Anyone who, whether in trading or life in general, stands up in front of their peers and ADMITS to their weakness, is well on the road to recovery.

I keep slowly adding it in (because I know it is boring), but when you meet YOUR Holy Grail and face it head on, and ask it questions, you will REALISE how very important the psychology of trading is.

Those of you who are flash reading this and think it doesn't apply to you because you are greater than this then all I can say is "Goodbye, it's been nice knowing you".

I encourage all of you to share your horror experiences because sharing them and bringing them out into the open is all part of the trading psychology healing process.

I will tell you again, I lost over $200K learning to trade and the reason I lost it was because of the Holy Grail. I was constantly in search of it, thought it could never be found, then when I found it, I didn't know what to do with it. It was only when I listened to it that my lights came on, and on they came like Dolly Parton's light bulbs!

Thank you, Nicola, it means a lot to me for you to post this.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,104
  • Mar 24, 2009 7:42am Mar 24, 2009 7:42am
HI Strat

Thanks for your Chinese synopsis very interesting we are truly witnessing a global new order.

Your analysis of common sense is spot on my brother works as a nurse in A&E, the more experience doctors and nurses can look over a seriously injured person in five -ten minutes and treat the important issues the rest is noise and can be looked over later. Like you said in an earlier post a strong S&R or price action set up will jump out at you , without you looking and willing one to appear.
Great post, you have a very natural way of articulating your thoughts (don’t tell your trouble and strife) making for a easy read, ever thought of writing a newspaper column.
Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #1,105
  • Mar 24, 2009 7:45am Mar 24, 2009 7:45am
Quoting rogueforex
This is another look at the G/J and I trendline I think is important along with Amin's.

This goes back to the two trend line post Strat did last week.

Lance
Sorry to say, my young friend, but that is NOT my trend line - did you steal it from another thread?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,106
  • Mar 24, 2009 7:48am Mar 24, 2009 7:48am
Quoting elitejets
I was going to change the title to "making pips is easy, making money is hard" because that has been my experience thus far.
I know a lot of very knowledgeable people tell you to demo demo demo until you are profitable but I wanted to explain what happened to me and what I think happens to a lot of people. Demo is easy psychologically and real money trading can be very hard!

Most people know I started life as an air traffic controller. I'm pretty good at following rules and I can stare at a wiggly line on a screen all day without losing it and...
Making pips is easy, making money is hard

Another one for the Index, Lance

Damn, Nicola, that's brilliant! I'm looking for a script writer - need a job?

Why can't I think of this stuff?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,107
  • Mar 24, 2009 7:52am Mar 24, 2009 7:52am
Quoting FxPippy
Hi Strat
I am so very determined to succeed, I have put hours of study to educate myself and many, many more will continue. I strive to learn and I have a thirst for knowledge, I have learnt so much from this thread & J16 and so much to thank you both for, and I know that my knowledge will continue to grow & grow. I am gaining in confidence day by day, I couldn't expect to be a fully qualified surgeon without studying! I will walk the walk from the talk the talk. After reading your post on accepting the Loss I have changed my trading plan sheet,;...
Good lad! Share your experiences and let us know how we can help.
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,108
  • Mar 24, 2009 7:56am Mar 24, 2009 7:56am
Quoting strat
Sorry to say, my young friend, but that is NOT my trend line - did you steal it from another thread?
I wasn't posting "your" trend line, I drew it. I was referencing your post last week with the two trend lines on them. Where you drew them from the swing low, exactly thru the cross of the PA and the 20. This gives a good future reference point for price to head toward.

...another thread?... come on.

as He Man said: "there can be only one master of the universe"
  • #1,109
  • Mar 24, 2009 7:57am Mar 24, 2009 7:57am
I haven't had a big blow out. I thank my poker education for this. Some of you may have heard that trading and poker share a lot of similarities and it is the truth. In order to be a professional poker player, or at least one that plays semi-regularly (like myself) and aims to make money doing so, you have the exact same money management rules as you do in trading. You never risk all your bankroll in one hand. In fact, you never sit at the poker table with your entire bankroll. I'd buy into a game with no more than 6-8% of my total poker funds - usually only 3-4%. That way you know a bad play or the cards not falling in your favor won't wipe you out completely but that good play will eventually reward you.

I started trading futures and I was foolish enough to think that after only a few months of learning on a part-time basis, I could do it live and do well. There I was, thinking that in a few months time I could quit my day job and be living life large. Since I was still working a day job, I decided to try my hand at the Nikkei 225 index futures during Tokyo hours. It was an entirely different beast than the Mini-Dow I had been demoing. I lost a good $3000 over the course of a month - pretty much all I had made playing low limit poker for several months.

Was my loss that big? No way, not in comparison to some horror stories and wipeouts I've read. But to a 25 year old it was a lot of money. I thank my poker education for controlling the losses because it could have easily been much more.

I've been trading Forex ever since, which is about 2.5 years, and lost only another $400 or so. I'm still trading with the original funds I deposited. I've been profitable for the last 3 months trading micro lots, this month far and above the most profitable (wheras the last two were just barely showing profits) so I am beginning to see the confidence in both my strategy and psychology. Perhaps I won't have to deal with losses for much longer.
  • #1,110
  • Mar 24, 2009 8:03am Mar 24, 2009 8:03am
Quoting cowboying
HI Strat

Thanks for your Chinese synopsis very interesting we are truly witnessing a global new order.

Your analysis of common sense is spot on my brother works as a nurse in A&E, the more experience doctors and nurses can look over a seriously injured person in five -ten minutes and treat the important issues the rest is noise and can be looked over later. Like you said in an earlier post a strong S&R or price action set up will jump out at you , without you looking and willing one to appear.
Great post, you have a very natural way of articulating...
Common sense ALWAYS wins out in ALL walks of life - I could give you many examples but I resist your bait to get me on my soapbox again!

I have been told many times by many people that I should be a story teller but I never could find the interest or the desire................until now.

Hope you are keeping that beer for me cold and Alison warm!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,111
  • Mar 24, 2009 8:17am Mar 24, 2009 8:17am
Good lad! Share your experiences and let us know how we can help.
__________________
Rock n Roll,
Strat

Thanks Strat, I will share and looking forward to contirbuting to the community - BTW my name is Nicole! Not a lad...so another female joins the crew..
  • #1,112
  • Mar 24, 2009 8:26am Mar 24, 2009 8:26am
please does anybody know of a free multitimeframe forex simulator?

thanks
  • #1,113
  • Mar 24, 2009 8:27am Mar 24, 2009 8:27am
Quoting strat
Common sense ALWAYS wins out in ALL walks of life - I could give you many examples but I resist your bait to get me on my soapbox again!

I have been told many times by many people that I should be a story teller but I never could find the interest or the desire................until now.

Hope you are keeping that beer for me cold and Alison warm!

Recently,i concluded that in everything you do,common sense is required,owing to the fact that its not common,then i believe "common sense is wisdom that comes from common knowledge"-sase gbengs
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,114
  • Mar 24, 2009 8:48am Mar 24, 2009 8:48am
Quoting FxPippy
Good lad! Share your experiences and let us know how we can help.
__________________
Rock n Roll,
Strat

Thanks Strat, I will share and looking forward to contirbuting to the community - BTW my name is Nicole! Not a lad...so another female joins the crew..
Nicole, my apologies, no sexual favouritisim implied in fact, women are very successful in trading - they somehow know which rules to follow whereas we men seem to think we are above ALL rules. Bring your friends, Nicola needs some soul mates!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,115
  • Mar 24, 2009 8:51am Mar 24, 2009 8:51am
Quoting taomql4
please does anybody know of a free multitimeframe forex simulator?

thanks
Isn't that something you buy from a sex shop?
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,116
  • Mar 24, 2009 8:56am Mar 24, 2009 8:56am
Quoting lordgbengs
Recently,i concluded that in everything you do,common sense is required,owing to the fact that its not common,then i believe "common sense is wisdom that comes from common knowledge"-sase gbengs
Bloody hell - are you related to the pizza man? - translator - PLEASE!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,117
  • Mar 24, 2009 8:56am Mar 24, 2009 8:56am
Quoting strat
Isn't that something you buy from a sex shop?
Yet again, you take this thread to a whole new level.
  • #1,118
  • Mar 24, 2009 9:09am Mar 24, 2009 9:09am
I have been compiling a list of "To Dos" from things I have been requested and things I think I should follow up on. Since this thread is taking over my life, I need to start prioritising.

For those that are "family" and "team members" on here, (lurkers go forth and multiply), here is my "To Do List". Let me know what is important for you and I will either dig it out from my files or write it up from the annals of my mind:

Support and Resistance
Dr. Joe does electronic trading
Reading and understanding - NO flash reading
Price candle - Visualise what went on in the candle
Shock of going naked
Sunday candles
Candle close - tails and wicks
Profit taking versus shorts
Time frames - correct selection
Man in the Mirror - psychology

Once you have this , you have bled me dry!
15 YEARS OF PASR ON FOREX FACTORY!
  • #1,119
  • Mar 24, 2009 9:29am Mar 24, 2009 9:29am
Quoting strat
I have been compiling a list of "To Dos" from things I have been requested and things I think I should follow up on. Since this thread is taking over my life, I need to start prioritising.

For those that are "family" and "team members" on here, (lurkers go forth and multiply), here is my "To Do List". Let me know what is important for you and I will either dig it out from my files or write it up from the annals of my mind:

Support and Resistance
Dr. Joe does electronic trading
Reading and understanding - NO flash reading
Price candle -...
Hi strat,we still want you alive,in my own opinion start from where you feel its alright for us,build upon it little by little.

On a lighter mood,you will really be a naughty boy in your childhood days.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,120
  • Mar 24, 2009 9:52am Mar 24, 2009 9:52am
Quoting strat
For those that are "family" and "team members" on here, (lurkers go forth and multiply), here is my "To Do List". Let me know what is important for you and I will either dig it out from my files or write it up from the annals of my mind:
It's all valuable boss, so post what you want, when you want.
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