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  • #3,021
  • May 14, 2009 2:36pm May 14, 2009 2:36pm
Quoting Baba G
"Duke of Yorkin":A term to discribe particular market conditions. When it was up....it was up.....and when it was down....it was down.And when there was no price action Baba didnt give a flying up or down........"duke of Yorkin"

What do you think team?
Although I don't think I'm YET part of the team, I think it's hilarious! Always enjoy your counsel and insight, Baba G.
  • #3,022
  • May 14, 2009 2:47pm May 14, 2009 2:47pm
Quoting hans356
Although I don't think I'm YET part of the team, I think it's hilarious! Always enjoy your counsel and insight, Baba G.
Hey hans356.......welcome...... your in the team now.I see you been in the FF 1 year.....whats the story morning glory?
  • #3,023
  • May 14, 2009 2:47pm May 14, 2009 2:47pm
Quoting Baba G
Well i can see its getting quite steamy out there on the thread as to which way its going.......i have a new term........its "duke of yorkin".

What do you think team?
Hola ! Brilliant; I'm LOL ...muy bien..excellente..en espanol...
  • #3,024
  • May 14, 2009 2:59pm May 14, 2009 2:59pm
Hi Strat

What an excellent idea, it will help to educate us all;

Much appreciation and thanks to Strat, BabaG, Swami, Elitejets and Blackeagle for dedicating their time and resources, to encourage us all to further our skills & knowledge.
  • #3,025
  • May 14, 2009 3:01pm May 14, 2009 3:01pm
Quoting FxPippy
Hola ! Brilliant; I'm LOL ...muy bien..excellente..en espanol...
nien.. ich nicht spraken espansol only ze swiss/german/austrian,anna liti bit ofa italiano,and the Queens own....please.I shhpeak a littttl duusssch but not American.....at all....lol

Did you sort out the account?for ze swiss money management....
  • #3,026
  • May 14, 2009 3:08pm May 14, 2009 3:08pm
[quote=[I]strat;2735047]What you are experiencing is what each of us gets, some more than others depending on our personality, psyche, beliefs and strengths.[/i]

Trading psychology accounts for 90% of our success as traders. Those that don’t believe it have NOT traded real money. Everything about us changes when we put our money on the line. This is where you find out about yourself and WHO you really are.

The specific emotions we have to recognize, address and control are:

PATIENCE
DISCIPLINE
FEAR
GREED


A good post strat, but thought i might offer my thoughts, and although i agree with 90% of what you've said, i tend to have a different viewpoint regarding demo accts.
As i posted earlier, in a previous life , i was a professional spot fx broker.
Occasionally, mostly due to a personal mistake on my part, i would find myself having a position(as per BOE regs, retail brokers are not allowed to speculate, i.e. take a position)
Now in those days a regular deal would be for 10-20 million. Any price i quoted meant the big boys could hit me on the price for that amount. Occasionally, due to the chaos that is the open mkt, i would find myself say, long of 10 million.
Bearing in mind in those days, 1980's and 1990's, 1 pip on 1 mill was worth 60 pounds.
On a position of 10 mill, then i would be running a position of 600 pounds per pip.
So what do i do when i'm 10 mill in the shat? If the next price is 3 pips away from where i'm stuffed, do i hit it, and take a 1800 quid loss in a matter of seconds?
Or do i run it, have a mental S/L, if i think that the big boy who hit me is wrong?
Well, occasionally i'd runt it, 600 quid a pip, and do you know what? After the Nth time of doing it, you don't panic. To be sure, the butt ring indicator is active, but you live with it.http://www.forexfactory.com/images/icons/icon8.gif
Now the PYSCHOLOGY.
I also used to spreadbet a lot in those days, 10 quid a point, my own money. Now, on my spreadbet, although it was insignificant compared to my professional positions, those babies I couldn't leave alone. There was no internet, so i had to ring the broker manually to check the price, which i did every other minute.
Spot the difference?? 600 per pip, somebody elses money, i.e. my companies.
10 quid a pip, my money, hard to earn, even harder to lose!
Thats why, in my humble opinion, as soon as people have learnt PASR, and have demo'd it for a couple of months, then they should go live.
With Micro accts, you can feel the pain of a loser, the joy of a winner. Having said that,personally, and it's taken Years Of Experience, the most i feel on a live bet now, is mild indifference. Did the PASR work out, ok no it didn't, study why not, good MM makes it insignifinant to your acct anyway.

Regards
  • #3,027
  • May 14, 2009 3:10pm May 14, 2009 3:10pm
OOOOOO The Grand ol G20 leaders,
they printed cash and then,
they pushed the market to the top of recovery,
and it all fell down again
and the yen went up and up
and the yen went down and down
and when it was only half way up
we looked to Gorden brown.
  • #3,028
  • May 14, 2009 3:11pm May 14, 2009 3:11pm
Hi BabaG

Ahhh Ok No espanol..

Yep, I've checked out Alpari that Cowboying recommended & it has 5 decimal points, 29 pairs no Indices/crude.

Then I re-checked Active Trades & their different types of accounts and they do do a micro acc to 4 decimal places...so I've decided to go with this. I've just installed their demo Acc and will open a micro acc tomorrow. Indices, crude and even Soya beans and coffee if it takes onces fancy! (Crunchies and tea for me pls)!

This combined with my IG index account and I'm sorted. In the past I've passed on trades because of the 0.50p and SL required..I will now have the best of both worlds
  • #3,029
  • May 14, 2009 3:15pm May 14, 2009 3:15pm
what more can one say...excellent..giggles here tonight!
  • #3,030
  • May 14, 2009 3:16pm May 14, 2009 3:16pm
[quote=golfer27;2735275]
Quoting [I
strat;2735047]What you are experiencing is what each of us gets, some more than others depending on our personality, psyche, beliefs and strengths.[/i]

Trading psychology accounts for 90% of our success as traders. Those that don’t believe it have NOT traded real money. Everything about us changes when we put our money on the line. This is where you find out about yourself and WHO you really are.

The specific emotions we have to recognize, address and control are:

PATIENCE
DISCIPLINE
[font=Arial][i]FEAR...
600 quid a pip......now we are talking......nice story please tell more....please.....g
  • #3,031
  • May 14, 2009 3:23pm May 14, 2009 3:23pm
Quoting FxPippy
Hi BabaG

Ahhh Ok No espanol..

Yep, I've checked out Alpari that Cowboying recommended & it has 5 decimal points, 29 pairs no Indices/crude.

Then I re-checked Active Trades & their different types of accounts and they do do a micro acc to 4 decimal places...so I've decided to go with this....
EXZELENT ALL TRADERZ WIZ SMALL ACCOUNT MUST HAVE ZE COORECHT GRANULATION FOR ZE TOTALEN TRADING STRATERGY.....UND THE RICHT ACCOUNT.....SPREAD BETTING IS NOT ZE CORRECT WAY!!!!....I REPEAT NIEN NIEN NIEN..........nice one fxpippy
  • #3,032
  • May 14, 2009 3:27pm May 14, 2009 3:27pm
Quoting Baba G
OOOOOO The Grand ol G20 leaders,
they printed cash and then,
they pushed the market to the top of recovery,
and it all fell down again
and the yen went up and up
and the yen went down and down
and when it was only half way up
we looked to Gorden brown.
Excellent stuff BabaG - can I add a 2nd verse?

Oooo, them small emerging markets,
they rode the wave of greed,
and when the west went bust again,
they fell down to the weeds,
so then the gold went up,
and then the bond yields sank,
and in the meantime in my world
my savings began to tank!!
Trade less and become more profitable!
  • #3,033
  • May 14, 2009 3:28pm May 14, 2009 3:28pm
i could do 600 quid a pip......i swear on my kids eyes.....come on whos got the cash?

600 quid......sweet honey love bliss....a pip....

Dan 600! not 6p.....lol
  • #3,034
  • May 14, 2009 3:32pm May 14, 2009 3:32pm
Quoting Grimweasel
Excellent stuff BabaG - can I add a 2nd verse?

Oooo, them small emerging markets,
they rode the wave of greed,
and when the west went bust again,
they fell down to the weeds,
so then the gold went up,
and then the bond yields sank,
and in the meantime in my world
my savings began to tank!!

Man thats GREAT....thats our school hymn.....we gotta sing it every day...hands on hearts looking tearfully at a photo of Strat....
  • #3,035
  • May 14, 2009 3:42pm May 14, 2009 3:42pm
Tell more ?
Trust me , I'll have you short n curlies straightened in no time!http://www.forexfactory.com/images/icons/icon14.gif
To be honest ,the point of the post was not to give it the bigun, but to illustrate the difference between having no money on the line, and risking real money.
Remind me to tell you the tale about TAKESUM, it went down it the annals of history in the london mkt.http://www.forexfactory.com/images/icons/icon12.gif
  • #3,036
  • May 14, 2009 3:45pm May 14, 2009 3:45pm
Quoting Baba G
Hey hans356.......welcome...... your in the team now.I see you been in the FF 1 year.....whats the story morning glory?
Thank you for bringing me on so quickly. I have yet to even prove myself worthy of associating with the "G."

Would you like my story on this thread, or would you like my story in a PM?

(Note: This is post #100. Sweet!)
  • #3,037
  • May 14, 2009 4:12pm May 14, 2009 4:12pm
Quoting Baba G
i could do 600 quid a pip......i swear on my kids eyes.....come on whos got the cash?
God has the cash and he's exactly only one decimal place away in this example bro. As far as I remember you have done two since xmas.

I know how you trade. I know you can. If anyone asked me you know what I would say. Let the kids keep the eyes give the man the funds.
GOD IS NOT SHORT OF CASH
  • #3,038
  • May 14, 2009 5:08pm May 14, 2009 5:08pm
Quoting hans356
Thank you for bringing me on so quickly. I have yet to even prove myself worthy of associating with the "G."

Would you like my story on this thread, or would you like my story in a PM?

(Note: This is post #100. Sweet!)
come on.....bring out your dead....stick it the thread.......
  • #3,039
  • May 14, 2009 5:11pm May 14, 2009 5:11pm
Quoting golfer27
Tell more ?
Trust me , I'll have you short n curlies straightened in no time!http://www.forexfactory.com/images/icons/icon14.gif
To be honest ,the point of the post was not to give it the bigun, but to illustrate the difference between having no money on the line, and risking real money.
Remind me to tell you the tale about TAKESUM, it went down it the annals of history in the london mkt.http://www.forexfactory.com/images/icons/icon12.gif
I know your not giving it the biggun.......its great to hear your stories...i wanna learn from you.....tell me more........please...please....please
  • #3,040
  • May 14, 2009 5:19pm May 14, 2009 5:19pm
Quoting Baba G
Its great,,,,,im glad you liked it...hows your trading pal?
My account is still positive so thats great, I only wish there were more opportunities to practice trading the daily because good set-ups are very hard to find
although I am getting good practice in patience and learning from this thread so things are great
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