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

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Trade what you see NOT what you expect

  • #25,521
  • Sep 7, 2009 8:35am Sep 7, 2009 8:35am
Quoting KENNETH lEE
John, I feel for you but this can be the start of the best time of your life. Imagine making more money than you ever have and not having to put up with all the stuff that dealing with clients and having employees , bidding on jobs.. Plus you can do this anywhere in the world. My favorite is the freedom.

You have been around a good while in forex. I think you have some good trading ideas you already have been successfull with , Just adding the covering and scaling to your trades might be all you need. But also most of what EO shows here can be...
Good grief Ken. I can't believe what I just read. You're encouraging someone to jump in with both feet saying that 200-400 pips a day is possible. Come on, let's get real here. If it were that easy you'd have done it by now. You're sounding like a '4x made easy infomercial'.

Sure there are a number of traders in here that can accomplish that, but encouraging someone who's under stress to do it is not good advice in my opinion.

Sorry if that's harsh but we're talking about someone's financial future. I would never encourage someone to make the leap to full time unless they've been consistently successful part time, and I don't know Johnny well enough to make that judgment, do you?
Hi, my name is Barry and you can keep your doctor...
  • #25,522
  • Sep 7, 2009 8:47am Sep 7, 2009 8:47am
Hey John

Just want to offer my condolenscence for your unfortunate news and my best wishes for your new start.
I hoped others would not have to suffer the same situation I am going through but sadly you just have. All I can say is keep positive. I personally thank my lucky stars that I found all the good people on this thread who really have kept me inspired to succeed at this.
From what I have seen from your posts I think you will be fine
I can offer you little else today except my warmest wishes to you and your family and my prayers for your success..

Rob

Quoting johnnykanoo
Happy labor day all.

EO I would love to see you teach your setups more specifically. As of right now I trade the 5 oclock somewhere and price action reversals and that is it.

I am in a crazy situation now. I was just put into a situation where now I will be forced to make my money trading forex. I don't know of any other way. It is fall time and I just lost a huge job for the winter and am forced to basically shut my doors. It really sucks coz my guys are screwed too. Usually I would have them clean the shop or whatever but my company is out...
  • #25,523
  • Sep 7, 2009 9:05am Sep 7, 2009 9:05am
Quoting cisco
Good grief Ken. I can't believe what I just read. You're encouraging someone to jump in with both feet saying that 200-400 pips a day is possible. Come on, let's get real here. If it were that easy you'd have done it by now. You're sounding like a '4x made easy infomercial'.

Sure there are a number of traders in here that can accomplish that, but encouraging someone who's under stress to do it is not good advice in my opinion.

Sorry if that's harsh but we're talking about someone's financial future. I would never encourage someone to make the...
Your right Cisco What is wrong with me, Why do I throw a little encouragement to peolple in this negative world. We should all fail.
I know my issues it has always been a mental issue with me. Nothing to do with the systems. I have been successfull and a loser . But I would rather show people what is possible. We all know the other option. PLus John has been trading For 3 years and has a good base as a long term trader but as a few, when the market starts ranging tight not covering trades takes it's toll. For those style traders all they need to do is TAKE the profits they have made.

This really hits home for me not that you disagree with me I am a big boy . I have fought many battles in my life. But I struggle with wiether I should be TRYING to help others learn or like you mention since I don't get it maybe I should just move along. I am one of the few who try and help Instead of brow beat. As far as the numbers they are 100% correct the point is you can make a decent living off a fraction of that.

I think I will take a sabbatical from this thread for a while.. Maybe start another one on the begginers thread, where apparentlly I belong. Let the experts have their competition here. Who can get the best entry.

I wish you all the best and I am sorry this has struck a sore spot within me. But it might be better for me also. As I tend to try and help people when maybe I should be like everyone else and just help myself.

Trade Safe and Happy Ken Lee
Good Trading To All ; Ken Lee
  • #25,524
  • Sep 7, 2009 9:10am Sep 7, 2009 9:10am
I understand both Ken's and Cisco's view points here. 200-400 pips per day may sound like a lot to some and not so much to others. IMHO, pips per day/week/month goals can only be determined by the individual. For example, I "know" 200-400 per day is quite possible however my personal "realistic goal" at this point is to make 50-100 per day consistently.

Once I've accomplished that, the goal will then be set higher. As of now, 200-400 a day is a long term goal of mine and thus, something to shoot for.

Just my cents on it....
Ghost Rider - WWTBMD?
  • #25,525
  • Sep 7, 2009 9:17am Sep 7, 2009 9:17am
Quoting KENNETH lEE
I think I will take a sabbatical from this thread for a while.. Maybe start another one on the begginers thread, where apparentlly I belong. Let the experts have their competition here. Who can get the best entry.

I wish you all the best and I am sorry this has struck a sore spot within me. But it might be better for me also. As I tend to try and help people when maybe I should be like everyone else and just help myself.

Trade Safe and Happy Ken Lee
Ken,

Don't take it quite so seriously brother. Not only do you "belong here", IMHO you're an integral part of this GREAT thread!! I hope you'll reconsider but if you don't, I for one will greatly miss your input and help!

Best wishes whatever you decide....
Ghost Rider - WWTBMD?
  • #25,526
  • Sep 7, 2009 9:23am Sep 7, 2009 9:23am
Hi everone.

I see the gu has retraceing down to 50% fib level,from low of friday 1630,and high of today 1640.
The quastion is, would it go lower,or it will reverse back up from here,
Thats my analysing limitaion,
Can anyone enlight me with your thoughts on the gu,plz.

Thanks in advance.
  • #25,527
  • Sep 7, 2009 9:33am Sep 7, 2009 9:33am
This might be something to watch for.

200sma @ 1.636xx, todays asia low 1.636xx, daily pivot 1.636xx hrly 50 ema and sma 1.636xx

I have placed my order, for a long based on the above. But please don't follow me blindly, I may have missed something.

Quoting amiro
Hi everone.

I see the gu has retraceing down to 50% fib level,from low of friday 1630,and high of today 1640.
The quastion is, would it go lower,or it will reverse back up from here,
Thats my analysing limitaion,
Can anyone enlight me with your thoughts on the gu,plz.

Thanks in advance.
  • #25,528
  • Sep 7, 2009 9:40am Sep 7, 2009 9:40am
Quoting KENNETH lEE
As I tend to try and help people when maybe I should be like everyone else and just help myself.
come on man don't be like that, you're a large part of the reason why I and I'm sure many others read and post here. I've learned a lot from your posts, they're a great help and also a relief after some of the unhelpful masochistic posts going on here. The point about not putting too much pressure on someone who already has a lot of it is valid though. I don't see a reason to talk about 200-400 pips/day--which may be an eventual long-term target--when 10% of that could give you an amount you wouldn't have made in 8 hours of working many office jobs. So don't be offended, we all have the same good wishes for John and that's what's great about this thread, a collective will to succeed all thanks to EO and Infinity
'The past will always show us the future'
  • #25,529
  • Sep 7, 2009 9:47am Sep 7, 2009 9:47am
Quoting robgsxr
This might be something to watch for.

200sma @ 1.636xx, todays asia low 1.636xx, daily pivot 1.636xx hrly 50 ema and sma 1.636xx

I have placed my order, for a long based on the above. But please don't follow me blindly, I may have missed something.
Thank you for pointing all these factor out to me,Very good reasones too.
I'll definatly bear that in minde.

Thanks again.
  • #25,530
  • Sep 7, 2009 9:48am Sep 7, 2009 9:48am
Hey Ken
I for one don't wish you to stop posting here you have given me much enlightenment and inspiration which I spoke of to John. I hope you continue here in this forum for a long time to come.

sincerely Rob


I think I will take a sabbatical from this thread for a while.. Maybe start another one on the begginers thread, where apparentlly I belong. Let the experts have their competition here. Who can get the best entry.

I wish you all the best and I am sorry this has struck a sore spot within me. But it might be better for me also. As I tend to try and help people when maybe I should be like everyone else and just help myself.

Trade Safe and Happy Ken Lee[/quote]
  • #25,531
  • Sep 7, 2009 9:54am Sep 7, 2009 9:54am
Quoting KENNETH lEE
Your right Cisco What is wrong with me, Why do I throw a little encouragement to peolple in this negative world. We should all fail.
I know my issues it has always been a mental issue with me. Nothing to do with the systems. I have been successfull and a loser ....
Well, as usual, I've put my foot in my mouth and said something that was far too harsh. You've always been one of the most giving people in here so I want to apologize profusely to you. I also shouldn't have implied that you weren't 'getting it'. That wasn't my intent. But it was only a few weeks ago that you were bemoaning the fact that if things didn't turn around for you that you were going to have to find a job.

Please don't leave the thread because of my big mouth. You've probably helped more people in here than you'll ever know. Stick around and continue to help the newbies. Your goodness will be it's own reward.

Again, my apologies.
Hi, my name is Barry and you can keep your doctor...
  • #25,532
  • Sep 7, 2009 10:04am Sep 7, 2009 10:04am
  •  refugee
  • | Joined Aug 2009 | Status: Be patient, cautious, & skeptical. | 50 Posts
c'mon people... no need to get so heated over this. Lets take this day to learn and mostly relax. Go hang with the family and cook some nasty hotdogs on the grill. Have an awesome labor day as I go and work for twelve hours
  • #25,533
  • Sep 7, 2009 10:29am Sep 7, 2009 10:29am
wow thank you everybody for your support!!! I really really appreciate it. It is this encouragement that will help us al succeed!!!

@ken thank you very much for your positive advice. I agree with you. I was pushing the pencil this morning and I feel that a 400-500 a week pip goal is more than reasonable considering i only trade the wife right now. I am profitable as of now my account is not bleeding red ink. I do feel pressure but then again don't we all.

I need to continue with the setups I am comfortable in whick i mentioned alread as the 5/10 bounce and pa (which I am most confidant in)

The ones I am least confidant in is picking tops and bottoms. They always get me in trouble. Also I have got to cut my losses I am terrible at that!!! If I had a bottomless account I would never use a stop loss.

Thanks again everyone lets just continue to support each other and uplift each other and we will all make it together.
  • #25,534
  • Sep 7, 2009 10:34am Sep 7, 2009 10:34am
btw cisco thanks for being realistic in your advice. I appreciate the caution. I will only trade what I feel comfortable with. I do have pretty good experience by now but EO's methods are in some ways very new to me and so for the things I don't feel confidant in I will lower my risk substaintially and as you said I will wait for the market to come to me.
  • #25,535
  • Sep 7, 2009 10:35am Sep 7, 2009 10:35am
Come on guys...... you both were responding to a friend in need of advice.. which is what we do here primarily.... you had separate opinions on the matter and that is normal... Please don't let that deter you from doing what you normally do here day in day out... Helping others become better traders!!

I highly respect both of you as traders and human beings and I truly hope that you guys continue to share with us in this thread....
Patience + Discipline - Greed = Success
  • #25,536
  • Sep 7, 2009 10:43am Sep 7, 2009 10:43am
Group hug time.
  • #25,537
  • Sep 7, 2009 10:59am Sep 7, 2009 10:59am
Quoting robgsxr
This might be something to watch for.

200sma @ 1.636xx, todays asia low 1.636xx, daily pivot 1.636xx hrly 50 ema and sma 1.636xx

I have placed my order, for a long based on the above. But please don't follow me blindly, I may have missed something.
Hi Robgsxr.
I'm just watching the setup you pointed out,witch has 3 to 4 very strong factors in that,I 'm very pleased that i'm learning something new every week from you guys,and like to thank you all for your kind help to the newbis like me.
I am going to demo this setup,I put sl at 16340,just below the sup ihave on my 15mchart,
Just a matter of intrest where would u put yr sl.
Thanks.
  • #25,538
  • Sep 7, 2009 11:16am Sep 7, 2009 11:16am
Quoting PippiNole
Group hug time.
Ditto....

Sure, I go grab a shower and she drops through support...LOL

Anyway, I have a group ride to attend now. Have a great day everyone and keep the peace.
Ghost Rider - WWTBMD?
  • #25,539
  • Sep 7, 2009 11:22am Sep 7, 2009 11:22am
Sorry Amiro stepped out for a min and my trade activated at 1.6350. My stop is at 1.6330 below the pivot at 1.6350. This has picked up momentum downwards but I still had a small short running so not all bad.. fingers crossed

Quoting amiro
Hi Robgsxr.
I'm just watching the setup you pointed out,witch has 3 to 4 very strong factors in that,I 'm very pleased that i'm learning something new every week from you guys,and like to thank you all for your kind help to the newbis like me.
I am going to demo this setup,I put sl at 16340,just below the sup ihave on my 15mchart,
Just a matter of intrest where would u put yr sl.
Thanks.
  • #25,540
  • Sep 7, 2009 11:35am Sep 7, 2009 11:35am
I'm out....
momentum too great.. looking for new reversal signal




Quoting robgsxr
Sorry Amiro stepped out for a min and my trade activated at 1.6350. My stop is at 1.6330 below the pivot at 1.6350. This has picked up momentum downwards but I still had a small short running so not all bad.. fingers crossed
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