go live or bust ... diary of an fx live-trader-wannabe

another nite that could crush the spirit of any young (eh-hem) ... budding forex trader ... phew ... ranging markets are exhausting on the 'ole self ... [2 losers tonite & a break even ...] ... i tink lucy, this market is gearing up for some kinda break out ...

hahaha ... what a prediction ... unfortunately, i gave up after the 1st 2 losses ...

sigh ... for some reason, i cant seem to get all the pieces to come together at the same time; i.e., system & discipline ...

nothing special last nite. 1 small loss & i shut-'er down ...

who knew successive losses could be such fun ... so this is what i've been reading about! i surrender again after 2 small losses this session.

the losing streak continues ... i wouldn't know what to do w/ myself if i were to experience a winning trade ...

irony is my discipline has improved 10-fold ... unfortunately, still not reflected in the net gains. sigh

Hey,

Did you see this article on FF?

http://www.forexfactory.com/news.php?do=news&id=180912

Dahlia

i did ... made me feel much better ...

in fact, since reading it, i haven't had a losing trade in over a week! LOL ... could be because i haven't placed a single trade!!!

think i will dip my feet in the waters again next week & see how it goes.

summer keeping me really busy & crappy market = not much trading ... took a small swing-type trade earlier this week ... and ... you guessed it ... ended in a loss ... i am a real genius aren't i?

the 2 other swing trades i was in that were going along fine ... have now too gone south on me (something happened w/ US today, but too lazy to figure out & dont much care due to being too busy) ...

the good news is that i won myself a little prize at a poker tourney last nite ... feeling pretty good about that ... figured i'd throw it in here since i dont have much else positive to report re the trading adventure i've been on for the last 3 YEARS!! ... played one of the best games ever ... simply put a read on how everyone had decided to play & then proceeded to run them down accordingly ... i am so mean. hey, what can i say ... i really needed to win at something as the trading has really been a spirit crusher ... so much so that i am thinking of packing it in (gasp!! i'll become a statistic ... oh well, i've always wanted to be in the top 95th percentile hahahahaha) & simply letting the old man churn out the bucks ... time will tell.

hope y'all are doin' fine. over and out.

im back from the dead ... first post will be "under construction" (so-to-speak ... and when i get around from it, which means after the beyond-ridiculous heat wave we're having here on the NW coast ...) ...

expect to be trading somewhat regularly thru august ... and depending how that goes ... (not win/lose, but more on the logistics side of things ... b/c i fully expect t/b profitable if i stick to the plan, etc. in the long run ... hehe, heard that b/f huh?) ... i will be posting more again, but want to get away from the hodge-podge approach i usually have w/ my posting (& trading eh?) ...

hope someone out there making some real pennies trading forex ... not me yet, but there's still time ... (then again, i might just put my feet up & eat bonbons all day ...)

cheers.

not even back for 1 minute & im back to hodge-podge ... traded some goofy NY closing swing breakout thing last week & presently up 1500 pips in the XAUUSD ... only relevance here has been the discipline that i have exercised for the duration ...

there's still hope for me yet.

congrats on your poker win. (where in Canada is this poker tourney usually held? near your place? where's that? i'd love to migrate there in the future, lol)

Just hang on, never quit. we all will make it if we practice & believe enough.

LOL ... the local pub down the street! ... it's fairly, small (30 players avg), but competitive tourney ... it's one of these pub leagues ... i dont go much anymore, but definitely needed the distraction from the trading & lots of great overlapping lessons t/b learned (re-learned) there ...

been busy w/ traveling & a new business venture. hoping to get back to the charts this month.

... hit and miss on when i look at the charts ... playing more poker in my free time than studying the forex (im a much better poker player than i am forex trader) ... still plugging along w/ new business venture.

sending my best to all of you still out there trying to grind out a living w/ the forex.

my first papertrades in a while ...

missed the pin (occurred earlier than i planned to trade) but saw an opportunity to resume what appeared to be a bearish start to the session ... 3 pip loss there b/c i ditched that trade in favor of the long (chart to follow) ...

my short wasn't going so great and i saw price action indicating a resumption of the long from friday ...

the pin bar that i missed formed a nice level of support, my RP trade turned out to be a pullback following the move at the pin ... another mini-pin formed a double-bottom, then an inside bar, then another price action pattern that cried out to be traded and so i did ... im w/ the moving averages for the past 4hr, 2hr, and 1hr time frames & got confirmation off the nice BUOB that formed shortly after price stalled at the 5000 level (solid yellow horizontal line) ...

this trade yielded 3:1 ...

1st trade was a 0.3% loss; this one was a 2.5% gain ... net 2.2%

just like riding a bike ...

prolly pressing my luck, but im in the mood for getting back into trading so i saw this one & traded it on my demo account ... have a set TP at the 1:1 RR as i feel like this might end up being a pullback ... i am going to jump out if a continuation pattern sets up.

yup ... reversal pattern (developed for my trade & i jumped out w/ a few pips profit) ...

not going to take the continuation long b/c HK doesn't have as much oomph to it as i'd hoped.

HK open was indeed lackluster ... was a small little trade that i could have taken, but there's a poker game calling my name & i think im going to quit while im ahead for a change.

planning on braving the NY seas menana ... if i can drag myself out of bed ... otherwise, if i get home in time, i'll check out the aussie/japan/HK overlap tomorrow p.m.

managed to get up in time for close of euro/uk session ... price action began before i was up and running following some news event. presently have a fairly serious wind storm here and might lose power so that will be the end of my NY session.

otherwise, looking for a pullback to 5018-ish so i can get on the ride. nice MTF PA occurring for some bullish movement back to 5050, but what do i know?