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  • #114,541
  • Jun 24, 2009 8:47pm Jun 24, 2009 8:47pm
Quoting gatorinla
L.S.U. k a taking names.
I still love Beavers.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #114,542
  • Jun 24, 2009 8:48pm Jun 24, 2009 8:48pm
Same song as last week...http://www.youtube.com/watch?v=qfdb2XyGTHA

P.S. I had 4 shorts open...1.3862 (not proud of this one, but still hanging on), 1.3990, 1.4090, 1.4100. Can you guess which ones I've closed so far?
Si vis pacem, para bellum.
  • #114,543
  • Jun 24, 2009 8:50pm Jun 24, 2009 8:50pm
Quoting The Fool
Actually I feel like I would like to crawl in bed, assume a fetal position & pull the covers over my head & stay like that for a week. Might not be a bad idea. The account that I nearly tripled in a little over 7 weeks got a 60% hole blown in it all for just a stupid careless mistake.

Gator told me to take a few days off & he's a good man but I'm more of a back on the horse dude so I scalped for 3% in an hour at the LO & did it again before the NY close.

I have no doubt that I can take money from this market at will but I have yet to prove that...
I have been there, more than once. You MUST come up with a way to not expose yourself to a 1 day 60% loss. If you are super aggressive, maybe a maximum of 10% loss on a single day. There will be days when everything you touch turns to crap, and you have to find the discipline to not let yourself be killed on those days. However, talk is cheap, and most people have to figure it out themselves. I know I did. I had to blow 5 accounts before I got 2 simple things in my head:

1. Be careful with entries, don't take them lightly.

2. Know your exit, win or lose, before you enter that trade.

Easy to say...hard to execute. I had to take on a 2nd job working nights and weekends to make the money to fund my account. I hated that job, and the hours and hours I had to spend at it to keep funding my account. Eventually, that distaste for throwing my hard earned money away made me a lot more careful and disciplined about my trading. I hope you are not a hard headed as I was. All the best to you!
  • #114,544
  • Jun 24, 2009 8:52pm Jun 24, 2009 8:52pm
Quoting The Fool
I still love Beavers.
hairless ones make the best barbque..
those who can, do. those who cant, talk about those who can
  • #114,545
  • Jun 24, 2009 9:06pm Jun 24, 2009 9:06pm
Quoting FX-Petra
I have been there, more than once. You MUST come up with a way to not expose yourself to a 1 day 60% loss. If you are super aggressive, maybe a maximum of 10% loss on a single day. There will be days when everything you touch turns to crap, and you have to find the discipline to not let yourself be killed on those days. However, talk is cheap, and most people have to figure it out themselves. I know I did. I had to blow 5 accounts before I got 2 simple things in my head:

1....
Well said. Preservation of capital is everything! Being able to pick the best entries with smaller stop losses not only decreases risk, but also potentially increases the possible risk to reward ratio.

Tyler
skype: ststroud. let's talk trading.
  • #114,546
  • Jun 24, 2009 9:07pm Jun 24, 2009 9:07pm
Quoting tyler812
Well said. Preservation of capital is everything! Being able to pick the best entries with smaller stop losses not only decreases risk, but also potentially increases the possible risk to reward ratio.

Tyler
can also let you play bigger positions..
those who can, do. those who cant, talk about those who can
  • #114,547
  • Jun 24, 2009 9:10pm Jun 24, 2009 9:10pm
Quoting gatorinla
L.S.U. k a taking names.

Hold that TIGER!
  • #114,548
  • Jun 24, 2009 9:15pm Jun 24, 2009 9:15pm
THE FOOL....I am right there with you....i took my account and tripled it in 2 months onyl to see me lose it all in 1 and half weeks! It is is tuff to bare! I was able to easliy close out the trade and as it went into profit at 5 am when fell asleep for 15 min....I could have me account still but it went NORTH as Notch and atlast predicted.....so bummed right now...dont want to take small trades as i know this will take me all year to build so i want to scalp with higher leverage.....i know i wil be critized for it bu i can;t wait a whole year to re-coup my loss.....I have been there before and it takes forever......Good luck to you!

I just hope Atlast and Notch along with a few others like Gatorinla and vinesh2 and Bored to Loose and Ak4x still will help us.....I know we can be a nuisance but it helps when someone else knows how to help someone who is thinking with emotions...
  • #114,549
  • Jun 24, 2009 9:21pm Jun 24, 2009 9:21pm
Definitely not the best time of day, but we have got an inside bar on the hourly.

Attached Image (click to enlarge)
Click to Enlarge Name: 06-24-09 eurusd h1 .gif Size: 13 KB
skype: ststroud. let's talk trading.
  • #114,550
  • Jun 24, 2009 9:25pm Jun 24, 2009 9:25pm
Just a thought: I have been trading with only half a lot after my loss last week. It takes some of the heat off me and makes it easier for me to get back in the game.
  • #114,551
  • Jun 24, 2009 9:28pm Jun 24, 2009 9:28pm
even if you make 51 winning trades out of 100, you are way ahead of millions of losers!.
  • #114,552
  • Jun 24, 2009 9:34pm Jun 24, 2009 9:34pm
Quote
Just a thought: I have been trading with only half a lot after my loss last week. It takes some of the heat off me and makes it easier for me to get back in the game.
Many successful traders calculate position size using a certain percentage (usually 2% or 3%) of their account balance. This allows larger positions, as gatorinla mentioned, for trades with tighter stop losses without overexposure to risk.
skype: ststroud. let's talk trading.
  • #114,553
  • Jun 24, 2009 9:38pm Jun 24, 2009 9:38pm
Quoting FX-Petra
Hold that TIGER!
lsu 11 tex 4,,, next! texas has last bat now..
those who can, do. those who cant, talk about those who can
  • #114,554
  • Jun 24, 2009 9:41pm Jun 24, 2009 9:41pm
Quoting The Fool
Actually I feel like I would like to crawl in bed, assume a fetal position & pull the covers over my head & stay like that for a week. Might not be a bad idea. The account that I nearly tripled in a little over 7 weeks got a 60% hole blown in it all for just a stupid careless mistake.

Gator told me to take a few days off & he's a good man but I'm more of a back on the horse dude so I scalped for 3% in an hour at the LO & did it again before the NY close.

I have no doubt that I can take money from this market at will but I have yet to prove that...
Well I was not gonna add any comments but after reading the many "We've all been their" accounts I will add the hard truth.

You screwed up. You know it. But have you understood what went wrong? If not, then get to work and find the answer and I don't mean the easy out. The real answer. Entry, greed, hope ect...

Deal with the emotion that caused you to bail-out for a big loss.

Once that has all be done then, if need be, get a part time job and fund you lost money back into the account, dust yourself off and don't make the same mistake again.
  • #114,555
  • Jun 24, 2009 9:48pm Jun 24, 2009 9:48pm
Quoting bablo
Well I was not gonna add any comments but after reading the many "We've all been their" accounts I will add the hard truth.

You screwed up....
I don't know what happen, but we have been in a 300 pip range for 10 days. Hard to imagine blowing up recently. I dont know if you guys were trading during the 400-500 pip move dark days of late 2008. Man you could really get your ass handed to you then. Buck up, chuck. If it were that easy, we'd all be retired.
  • #114,556
  • Jun 24, 2009 9:53pm Jun 24, 2009 9:53pm
lsu did it!!!
those who can, do. those who cant, talk about those who can
  • #114,557
  • Jun 24, 2009 10:07pm Jun 24, 2009 10:07pm
Quoting TIckerShuffl
I don't know what happen, but we have been in a 300 pip range for 10 days. Hard to imagine blowing up recently. I dont know if you guys were trading during the 400-500 pip move dark days of late 2008. Man you could really get your ass handed to you then. Buck up, chuck. If it were that easy, we'd all be retired.
Yes I did trade at that time. Infact I traded the beast.

Completely changed my lot size and entry method.

1/10th the lots per trade and placed orders on the fibs.

Each fib above the price had an order and each order scaled by a factor of 2.

ie: 1st order for .1 lots
2nd order for .2 lots
3rd Order for .4 lots
ect...

Only had a scare one time. Lasted for a week or so.
  • #114,558
  • Jun 24, 2009 10:21pm Jun 24, 2009 10:21pm
Quoting behzadov
U know what to do, don't u?
Hi, I am desperately looking for DT oscillator, can you help me? the attachment is too much.. thank you
  • #114,559
  • Jun 24, 2009 10:26pm Jun 24, 2009 10:26pm
Quoting The Fool
Actually I feel like I would like to crawl in bed, assume a fetal position & pull the covers over my head & stay like that for a week. Might not be a bad idea. The account that I nearly tripled in a little over 7 weeks got a 60% hole blown in it all for just a stupid careless mistake.

Gator told me to take a few days off & he's a good man but I'm more of a back on the horse dude so I scalped for 3% in an hour at the LO & did it again before the NY close.

I have no doubt that I can take money from this market at will but I have yet to prove that...
Wow man...that sucks...but ur still up roughly 220% right? I suck at math. Anyway.....I personally refuse to "gamble" on this stuff. I understand and preach that it is ALL actually a gamble.....however....if I am going to "gamble" Im going to do it on comp's in Vegas...not in my home. Then again...somehow my Vegas Comps end up costing me trips......so I don't really even know what Im talking about.
  • #114,560
  • Jun 24, 2009 10:30pm Jun 24, 2009 10:30pm
Quoting Jbomb21990
Wow man...that sucks...but ur still up roughly 220% right? I suck at math.
More like 20%. But still nothing to laugh at. That's a good ROI for 7 weeks. Go put your money in the bank and tell me how much interest you've earned after 1 year.
Si vis pacem, para bellum.
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