once u start realising u need to learn in trading it never stops...its crazy how complex this game can get..
Veni, Vidi, Vici (We came, we saw, we conquered)
Cable Update (GBPUSD)
- #151,341
- Jul 27, 2009 8:04am Jul 27, 2009 8:04am
- Joined Mar 2009 | Status: FX | 3,789 Posts
- #151,342
- Jul 27, 2009 8:07am Jul 27, 2009 8:07am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
I hought golf was a game that does your head in but when I first came across forex its taken it to new levels of "DO YOUR HEAD IN"
we are pretty close to a breakout here..
- #151,343
- Jul 27, 2009 8:08am Jul 27, 2009 8:08am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
This is what I did. I was being killed every day trading the small timeframes. I just changed to a Micro account and BAM, I was trading the Daily. You got to remember one thing. When I started trading Micros, a 100 pips drawdown meant only $10. Its all in the head you know. 1% of $1000 account is only $10 = 100 pips. Therefore you can easily afford a 100 stoploss. Just got to get by that greedy thing.
Ne
Most in here know my stupid story. Now you do too....
I WILL make this work. I just need the darn market to MOVE....LOL
So Cable....SOGOTP!!!! LOL
Ghost Rider - WWTBMD?
- #151,344
- Jul 27, 2009 8:09am Jul 27, 2009 8:09am
- | Additional Username | Joined May 2009 | 2,719 Posts
- #151,345
- Jul 27, 2009 8:10am Jul 27, 2009 8:10am
- Joined Jul 2007 | Status: Senior Member | 1,553 Posts
- #151,346
- Jul 27, 2009 8:11am Jul 27, 2009 8:11am
- | Additional Username | Joined May 2009 | 2,719 Posts
I am sorry. I hope you do well in the future. I was in the same boat. Just had to file Bankruptcy. Doing better now and I hope you will also.
Ne
Ne
No man, you don't understand. Not greed, necessity. NO other income, disabled since Nov. 08, Savings gone, last 5k for this account, have to make 6k a month for bills. No disability or help from any other source.
Most in here know my stupid story. Now you do too....
I WILL make this work. I just need the darn market to MOVE....LOL
So Cable....SOGOTP!!!! LOL
- #151,347
- Jul 27, 2009 8:12am Jul 27, 2009 8:12am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
I believe we will hang around here until the next release at 10. A good number for U.S. could eventually send this thing reeling to the 1.6340 area where I will buy. I will post my chart on this later when I get home. I adjust my trades once a day at 5 P.M. EST.
- #151,348
- Jul 27, 2009 8:14am Jul 27, 2009 8:14am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #151,349
- Jul 27, 2009 8:19am Jul 27, 2009 8:19am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
No man, you don't understand. Not greed, necessity. NO other income, disabled since Nov. 08, Savings gone, last 5k for this account, have to make 6k a month for bills. No disability or help from any other source.
Most in here know my stupid story. Now you do too....
I WILL make this work. I just need the darn market to MOVE....LOL
So Cable....SOGOTP!!!! LOL
be carefull
- #151,350
- Jul 27, 2009 8:19am Jul 27, 2009 8:19am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Ghost Rider - WWTBMD?
- #151,351
- Jul 27, 2009 8:20am Jul 27, 2009 8:20am
- Joined Mar 2007 | Status: Trader | 2,126 Posts
Make sure losses are small and profits are bigger!
- #151,352
- Jul 27, 2009 8:23am Jul 27, 2009 8:23am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
sorry to hear this bro!!!
That's the problem really. I have to be so accurate about the entry and cover my position at BE so quickly, I get stopped out a LOT. But I'm pretty darn good at picking tight entries (most times) so when it runs, I do very well. But in conditions like this, it just never runs...LOL
Ghost Rider - WWTBMD?
- #151,354
- Jul 27, 2009 8:29am Jul 27, 2009 8:29am
- | Commercial User | Joined Mar 2009 | 2,480 Posts
Here is a very good pdf: "Mental Fitness for traders" by Norman Hallett, at the bottom of the post.
This type of slow wandering market kills accounts. Trend following systems fail, range systems begin to work,,,until we enter a trend again...you get the picture.
I trade for a living, not for anyone else, but for myself and family. I am no expert and do not even know all of the correct terminology etc. BUT, I can read price action and understand market physcology. This took a few blown accounts when I first started to understand fully.
Before you start trading...STOP.
Check for pending news announcements for that day.
Check to see if FMOC members are going to speak and at what time.
Prepare your charts: Start with the daily and work down from there looking for possible trades and entries.
Keep a written journal and print out your possible chart entries.
Once you have decided upon your entries for the day according to your plan, stick to it. Do not be swayed by other's views. I look at FF AFTER I have planned my trades, not before! Even if everyone is no the opposite side of the market in the forum, I still stick to my plan...In fact I am quite pleased if it seems I am the only one long when everyone else is short and vis versa, I not concerned that no-one shares my view. I use FF AFTER I have determined how I will trade that day, discussion and other traders views pass time in quite frankly, a very boring trading existance.
If you lose, fine, accept it and move on. If you lose more than 3 consecutive times...stop trading for the day: The market was not ready for your entry.
Just a friendly bit of advice due to the fact I see posts along the lines of "Where should I enter?", "Do I take profit now?" "Will we get to xxx?" "Will it go up or down?"
Do not follow others blindly, do your research and stick to your plan, your trading success will increase dramatically if you are not swayed by the masses/sheeple.
Happy trades and green pips to everyone
This type of slow wandering market kills accounts. Trend following systems fail, range systems begin to work,,,until we enter a trend again...you get the picture.
I trade for a living, not for anyone else, but for myself and family. I am no expert and do not even know all of the correct terminology etc. BUT, I can read price action and understand market physcology. This took a few blown accounts when I first started to understand fully.
Before you start trading...STOP.
Check for pending news announcements for that day.
Check to see if FMOC members are going to speak and at what time.
Prepare your charts: Start with the daily and work down from there looking for possible trades and entries.
Keep a written journal and print out your possible chart entries.
Once you have decided upon your entries for the day according to your plan, stick to it. Do not be swayed by other's views. I look at FF AFTER I have planned my trades, not before! Even if everyone is no the opposite side of the market in the forum, I still stick to my plan...In fact I am quite pleased if it seems I am the only one long when everyone else is short and vis versa, I not concerned that no-one shares my view. I use FF AFTER I have determined how I will trade that day, discussion and other traders views pass time in quite frankly, a very boring trading existance.
If you lose, fine, accept it and move on. If you lose more than 3 consecutive times...stop trading for the day: The market was not ready for your entry.
Just a friendly bit of advice due to the fact I see posts along the lines of "Where should I enter?", "Do I take profit now?" "Will we get to xxx?" "Will it go up or down?"
Do not follow others blindly, do your research and stick to your plan, your trading success will increase dramatically if you are not swayed by the masses/sheeple.
Happy trades and green pips to everyone
- #151,355
- Jul 27, 2009 8:29am Jul 27, 2009 8:29am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
(If it's intended to be used)
- #151,357
- Jul 27, 2009 8:31am Jul 27, 2009 8:31am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Dude, your "kuntilanak" avatar looks weird, it surely won't give u any help as 'jimat'
- #151,358
- Jul 27, 2009 8:32am Jul 27, 2009 8:32am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Here is a very good pdf: "Mental Fitness for traders" by Norman Hallett, at the bottom of the post.
This type of slow wandering market kills accounts. Trend following systems fail, range systems begin to work,,,until we enter a trend again...you get the picture.
I trade for a living, not for anyone else, but for myself and family. I am no expert and do not even know all of the correct terminology etc. BUT, I can read price action and understand market physcology. This took a few blown accounts when I first started to understand fully....
I come in here for the social interaction more than anything else. Of course because I'm learning, I do consider the opinions of the obvious good traders. But they don't sway my plan once I have it.
Ghost Rider - WWTBMD?
- #151,359
- Jul 27, 2009 8:34am Jul 27, 2009 8:34am
- Joined Aug 2008 | Status: Trader | 3,976 Posts
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
- #151,360
- Jul 27, 2009 8:34am Jul 27, 2009 8:34am
- | Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts
Albchr,
1st off, bud i'm not looking to "pile on" but to help.
Sorry to hear about your "car-painters" accident.
-I used to be one too, only early on in years,
Surely did not make as well versed as you.
I ended up towards electronics from experiance in 'Military.
Listen,
One thing you gotta somehow do... is trade to "become an
excellent trader". All other motivations albeit good, great or
noteworthy -DO NOT WORK. Ask Navin & I... -@least i have blown
$5,000 accounts to smitherene's. -My motivation was my
disabled mom & dad. -Of which 'been in & out of Assited living
&- Nursing Home.
-Mark Douglas teaches this in one easy (though complex to read book).
I live down in College Park, MD was up your way for daughters 'kids camp.
I'd love to toss you the book if i could afford it for you.
Enough blabbering,
Chat more let's see what the Dow does to GBP/USD now & after new
home sales.
Honestly wishing you the best,
Jeff P.S. NAVIN BUDDY if you're in here, "What is up BUD?"!!
[
quote=albchr;2905862]No man, you don't understand. Not greed, necessity. NO other income, disabled since Nov. 08, Savings gone, last 5k for this account, have to make 6k a month for bills. No disability or help from any other source.
Most in here know my stupid story. Now you do too....
I WILL make this work. I just need the darn market to MOVE....LOL
So Cable....SOGOTP!!!! LOL[/quote]
1st off, bud i'm not looking to "pile on" but to help.
Sorry to hear about your "car-painters" accident.
-I used to be one too, only early on in years,
Surely did not make as well versed as you.
I ended up towards electronics from experiance in 'Military.
Listen,
One thing you gotta somehow do... is trade to "become an
excellent trader". All other motivations albeit good, great or
noteworthy -DO NOT WORK. Ask Navin & I... -@least i have blown
$5,000 accounts to smitherene's. -My motivation was my
disabled mom & dad. -Of which 'been in & out of Assited living
&- Nursing Home.
-Mark Douglas teaches this in one easy (though complex to read book).
I live down in College Park, MD was up your way for daughters 'kids camp.
I'd love to toss you the book if i could afford it for you.
Enough blabbering,
Chat more let's see what the Dow does to GBP/USD now & after new
home sales.
Honestly wishing you the best,
Jeff P.S. NAVIN BUDDY if you're in here, "What is up BUD?"!
![
quote=albchr;2905862]No man, you don't understand. Not greed, necessity. NO other income, disabled since Nov. 08, Savings gone, last 5k for this account, have to make 6k a month for bills. No disability or help from any other source.
Most in here know my stupid story. Now you do too....
I WILL make this work. I just need the darn market to MOVE....LOL
So Cable....SOGOTP!!!! LOL[/quote]
I will work to Objectively Identify my Edges