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Why did you start trading and what do you expect from it? 19 replies

How soon after you put on a trade do you expect to be "in the money"? 28 replies

How do you see trading - Do you see it as a means to an end? 12 replies

how long do you expect to trade? 10 replies

Trade What You See And Not What You Hope 0 replies

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Trade what you see NOT what you expect

Its a done deal now but I was watching that 1.6350 neckline for a break and retest to short and this 4hr candle was just what the doctor ordered right off the 10ema ofcourse i was sleeping but someday this will happen again and i will be on the bus.
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Quoting albchr
Not Rambling my friend, the absolute truth. Ken, you've hit "my" nail right on the head with this. I couldn't believe as I was reading it how much it fit me. I've done this SO many times. Take a loss, sit for hours watching good pips go by all the while saying "I'd go short here, I'd go long here" and watch them work out well. Then say to myself "this is stupid letting all this money go by" and then get in for another loss....

So true buddy, SO TRUE! ..
That is why I have said before trade a small amount to begin with then just start jumping where you see you should. Then you will see that the precentages are on your side. I forunately had learned that a long time ago. It isn't the amount of trades I take it is the amount I Don't take that is hurting me. I am not saying go off half cocked you have to think about what your doing all the time. But your here to trade. So you have to trade or do something else. Just don't risk much till you see what I am saying . You will see the moment at some point.

That is also when you realize that it doesn't take a huge account to succeed either , another false claim. It can help but how you manage what you have is more important. I know guys with 20,000 accounts still only trade $2 . What the f$@& is that about might as well have 18,000 in the bank still. But it all revolves of KNOWING not guessing what YOU are able to achieve and maintain. Once you realize that a lot of the fear of pushing the button dies. So pick one or two of the trading ideas that you do the best at and take them all everytime. Trade small then grow from there. If you take a loss or 2 lower your trade amount or risk but still trade.

The way I work my risk is I have a goal in mind I might risk as high as 5% but if I lose and my account drops to x amount I will drop back to 3% then further if need be. Also using the Multi order for scaling out of trades I might not load up every trade depending on how I feel about it. That should become part of your trading anyway because at times you might want a better price but not want to miss the trade completelly..

Anyway hope it helps, But just be careful with your trades make sure a trade is there. I always worry when I tell people to trade more. But have known more people with that problem than any other, Well maybe stop running. I have no answer for that one , maybe a baseball bat in a wifes hands.

Take care and be safe and Happy.
Good Trading To All ; Ken Lee
Quoting cisco
5700 is a real possibility with this shampoo.
agree, yeah for sure, next stops 1.6180 then 15985...
Trading is 80% Emotional, 20% Technical
  • #24,244
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  • Edited 12:55pm Aug 26, 2009 9:35am | Edited 12:55pm
Quoting johnnykanoo
hey ken i think the low % per year comes from people thinking there are going to slow climb to millions and then they will have liquidity issues. There probably is psychological issues about trading 3% of a million or even of 1/4mil. I'll let you know when I get there

I myself used to subscribe to the 2% per day max thinking but i have learned from you guys not to aim to low.

There is alot of psychology to trading and some people don't think they deserve 30% a week. Maybe they just need a hug or something http://www.freesmileys.org/smileys/smiley-hug012.gif...
I agree 100% John, I know people that don't subscribe to the 1% rule at all when their accounts get big. and it is a personal choice I do know a few, very few that do though and they are the ones that are the millionaires and will become the ultra rich as they are able to see it for what it is. They trade the charts not their accounts. I know some that refigure their risk % everyday before trading. Making small steps all the time to help with the jumps.


But it kills me you see from the Equation I posted 20% is really nothing. 200 pips a day at that level is 20% for 1 week. If you lower the risk to 50 cents per 1000 it is still only 80 pips a day. What gripes me with those guys is most have been around forever and if your not getting 80 pips a day on average your strategy is either not working or your not taking all the trades.

Enough said to each their own , But if we stay here and GRADUALLY learn all or most of the strategies in the thread you will surpass that amount. It is being done on a weekly bases and I will let you in on a secret their are a good amny breaking the 20% a week goal , but most of them are know where near trading even 1% of there accounts much less 3%. Heck I made 17% yesterday but am trading 3% and still didn't hold trades as long as I should have.

In summary don't have a goal it can stop you as well as guide you. Just trade what you see as good trades with excellent Money management and the $$ will come..

Sorry I can't seem to get off my soap box today.. LOL
Good Trading To All ; Ken Lee
Quoting refugee
Hello all, I've been lurking for a few weeks now and just wanted to say that this is a truly motivating thread. After blowing a live account (probably happens to at least 60% of the 5% at least in the beginning), I haven't felt the desire to even demo trade on a nightly basis until seeing eo, ken, and infinity chatting it up.

Look forward to hanging around while I get back into the full swing of things.

Welcome To EO's and your thread.. read the pdf file first page which I am sure you have done already and join the flay..
Good Trading To All ; Ken Lee
Quoting KENNETH lEE
IHeck I made 17% yesterday but am trading 3% and still didn't hold trades as long as I should have.
coming along very nicely I see!
'The past will always show us the future'
Quoting terje
coming along very nicely I see!

Now to hold on to it..
Good Trading To All ; Ken Lee
morning /afternoon all

Ken no need to get off your soap box when you have something worthy of saying. Those reading can take it or leave it without upset.
Personally, the more I hear this reality, the more I can believe the possibilities for me.

Whenever your'e ready to give us more of this wisdom I will be taking it in and using it to reinforce my beliefs.





Quoting KENNETH lEE
I agree 100% John, I know people that don't subscribe to the 1% rule at all when their accounts get big. and it is a personal choice I do know a few, very few that do though and they are the ones that are the millionaires and will become the ultra rich as they are able to see it for what it is. They trade the charts not their accounts. I know some that refigure their risk % everyday before trading. Making small steps all the time to help with the jumps.


But it kills me you see from the Equation I posted 20% is really nothing. 120 pips a day...
Good morning everyone! I hope everyone has made some nice green pips! We've had some textbook setups since yesterday's US open and many of you should have been able to capitalize on the move downward.
Just digging in the trenches like everyone else!
Quoting eohater
Good morning everyone! I hope everyone has made some nice green pips! We've had some textbook setups since yesterday's US open and many of you should have been able to capitalize on the move downward.
Good Morning Mate

Yes it has been good
Got a quick 20 off e/j off the 50ema
Quoting eohater
Good morning everyone! I hope everyone has made some nice green pips! We've had some textbook setups since yesterday's US open and many of you should have been able to capitalize on the move downward.

.....
Ghost Rider - WWTBMD?
I was able to pull 45 pip on the GJ retrace up to the 15m 35ma /1h 10ma. I saw the morning start on the 15 that completed at 10am. I jumped in a 9:59, right before the news.

Lets see if the current bar shows a reversal back to short.
Makin my way, the only way I know how...
Quoting husky_1
I was able to pull 45 pip on the GJ retrace up to the 15m 35ma /1h 10ma. I saw the morning start on the 15 that completed at 10am. I jumped in a 9:59, right before the news.

Lets see if the current bar shows a reversal back to short.
I'm not sure there are many in here that trade GJ. But, good job on your positive pippage!
Just digging in the trenches like everyone else!
Quoting fx local
agree, yeah for sure, next stops 1.6180 then 15985...
I'm drooling over 598x area myself!
Just digging in the trenches like everyone else!
For those who got in short off the m15 10, book yourself some profit and cover.
Just digging in the trenches like everyone else!
Quoting eohater
For those who got in short off the m15 10, book yourself some profit and cover.

Took E/J when it closed right on the 50 ema .. already booked . no cover..
Good Trading To All ; Ken Lee
Quoting eohater
I'm not sure there are many in here that trade GJ. But, good job on your positive pippage!
I like to clip the wings on the dragon but she is a BEAST and requires adequate respect to be sure. When she flies your way she pays off big. When she doesn't she'll burn you just as bad....
Ghost Rider - WWTBMD?
I'm watching the working h1. We could see a dblhc. Could just be noise created from the news, but we need to be aware of this. The working h4 is still bearish.
Just digging in the trenches like everyone else!
Quoting eohater
I'm watching the working h1. We could see a dblhc. Could just be noise created from the news, but we need to be aware of this. The working h4 is still bearish.
DBLHC it is! Price is staying above the m15 5.
Just digging in the trenches like everyone else!
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