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My Story, Need Advice

  • #41
  • Apr 4, 2010 4:33am Apr 4, 2010 4:33am
rather this guy

http://unrealitymag.com/wp-content/u.../suicidetp.jpg
Invincibility lies in the defence, the possibility of victory in the attack
  • #42
  • Apr 4, 2010 5:04am Apr 4, 2010 5:04am
Read this blog by ff member Far East Man:

http://somewhere-far-east.blogspot.c...ot-sizing.html


Also, excerpt by Binnooh:
http://www.forexfactory.com/showthre...=227012&page=2


"If you risk 5% – you will wipe out as soon as you have 20 consecutive losing trades – 1 chance in 1,048,576 (about a million)

If you risk 2% – you will wipe out as soon as you have 50 consecutive losing trades – 1 chance in 1,125,899,906,842,620 or about a BILLION!..."

Does that make you feel better?

As for exiting too early, could try any of the following:


1) Instead of buying 1 micro or mini lot, buy 2, and when you exit, close 1/2 of your position, and leave the other 1/2 open.

2) If using 1 micro or mini lot, enter a new position in the same direction when you close the 1st position.
  • #43
  • Apr 4, 2010 6:22am Apr 4, 2010 6:22am
Quoting eagle4x

Read this blog....

Also....

Does that make you feel better?

As for exiting too early.....

Oh boy.....and the hits just keep on comin'
  • #44
  • Apr 4, 2010 7:02am Apr 4, 2010 7:02am
Quoting eagle4x
Read this blog by ff member Far East Man:

http://somewhere-far-east.blogspot.c...ot-sizing.html


Also, excerpt by Binnooh:
http://www.forexfactory.com/showthre...=227012&page=2


"If you risk 5% – you will wipe out as soon as you have 20 consecutive losing trades – 1 chance in 1,048,576 (about a million)

If you risk 2% – you will wipe out as soon as you have 50 consecutive losing trades – 1 chance in 1,125,899,906,842,620 or about a BILLION!..."

Does that make you feel better?

As...
Fifty consecutive losing trades, twenty consecutive losing trades. Mist all chucking frighty. I realise this was only pointing out odd's and chances, but forget all about mm, r/r and all sorts of other bs. Stop way before 20 losse's, and more importantly cotton on to a system, method, edge that works. The most important thing is to have more winning trades than losing trades, I know easier said than done, but once you get their mm, r/r, and all the other bs, is so unimportant. And yes I am on micro lots, but I am ahead.
  • #45
  • Apr 4, 2010 7:41am Apr 4, 2010 7:41am
Quoting pipmutt
In trading? Really? I thought every traders prime motivation was money, the more the better, ...
...
yes, i'll say it again.
it's all relative.
not everyone is trading for the money.
or at least, money is not the primary motivation for all traders....

there are far superior, & intangible reasons/motivations than money.

Quote
why else would anyone trade?
i think 'the search' (for the answer to your question) is your next quest.
  • #46
  • Apr 4, 2010 7:46am Apr 4, 2010 7:46am
Quoting Four Kids

forget all about mm, r/r and all sorts of other bs......The most important thing is to have more winning trades than losing trades, I know easier said than done, but once you get their mm, r/r, and all the other bs, is so unimportant....
OMG, enough already!

Money management and risk:reward are certainly not BS or unimportant, and no the most important thing isn't more winning trades than losing trades!

Seriously, what planet are some of you guys on?

The numbers in eagle-4x's post which you quoted, which he quoted from another equally clueless noobs post, are screwed, they don't make sense! The blog which he posted a link to is pathetic, half a page of convoluted description about how to work out 2% of your account and trade size, and the rest is some misleading nonsense about fixed risk. Then the suggestion to close out half a trade is also misleading, risk on the whole and profit on half? Followed up by some more nonsense about opening a new trade in the same direction as a trade you've just closed, thereby paying extra spread for sweet FA! And to top it all off you're declaring with authority that MM and R:R is unimportant BS!

And that's just the last couple of posts, this and other threads are full of similar garbage.

Chrisonabike whatever happened to these forums, this is embarrassing! It's ok not knowing something, that's fine, ask questions, post thoughts and ideas, discuss them, but to offer authoritative advice to other equally clueless people really is the blind leading the blind and is inexcusable!

Come on people, wise up, otherwise these forums are going to end up a standing joke in the trading community rather than a useful and valuable resource!

-
  • #47
  • Apr 4, 2010 7:54am Apr 4, 2010 7:54am
Quoting supremeChaos

yes, i'll say it again.

there are far superior, & intangible reasons/motivations than money.
Repeating it doesn't make it true!

Give us an example of some of these "far superior, & intangible reasons/motivations than money", unless you're just another one who's full of it!
  • #48
  • Apr 4, 2010 7:55am Apr 4, 2010 7:55am
Quoting pipmutt
Come on people, wise up, otherwise these forums are going to end up a standing joke in the trading community rather than a useful and valuable resource!
'..end up...' ?

Come on Pip, i don't think 14 years in the game entitles you to a worthy opinion does it...wait... what?
  • #49
  • Apr 4, 2010 7:58am Apr 4, 2010 7:58am
Quoting pipmutt
"far superior, & intangible reasons/motivations than money"
I'm here for the girls.

Wait. What?
  • #50
  • Apr 4, 2010 8:04am Apr 4, 2010 8:04am
Quoting AstonDan
'..end up...' ?

Come on Pip, i don't think 14 years in the game entitles you to a worthy opinion does it...wait... what?
lol, you could be right, we might be past the point of no return, a lost cause!

Ah it just gets me pissed, and some of it is so blatantly obvious nonsense yet it's being repeated and quoted parrot fashion.

I suppose it's reassuring in a way, these are some of the people who we share the market with, it becomes less of a mystery about where our profit comes from or a worry that it might dry up!

Having a good Easter Dan? We're just about to have lunch (family is round, no wonder I'm grumpy, lol)

Here for the girls eh, damn, I must be with the wrong bróker!
  • #51
  • Apr 4, 2010 8:08am Apr 4, 2010 8:08am
lolwut?

man, i'm loving this thread. sick'em pipmutt!

i think i have a trader-crush <3
Congratulations ScalaFX for coming out of the closet!
  • #52
  • Apr 4, 2010 8:09am Apr 4, 2010 8:09am
Quoting pipmutt
Having a good Easter Dan? We're just about to have lunch (family is round, no wonder I'm grumpy, lol)
Yes thanks. Up early for the GP this morning and now just clearing up some paperwork etc and kicking my heels.

Quoting pipmutt
Here for the girls eh, damn, I must be with the wrong bróker!
So many jokes involving slippage and bad fills i don't know where to start!
  • #53
  • Apr 4, 2010 9:45am Apr 4, 2010 9:45am
You know nothing about my personal situation to make a comment like that.

Quoting Deusomega
Holy crap if I was still demoing after 5 years I'd divert my efforts into something else .
  • #54
  • Apr 4, 2010 11:04am Apr 4, 2010 11:04am
Quoting eagle4x
You know nothing about my personal situation to make a comment like that.
It's an opinion really nothing more.
  • #55
  • Apr 4, 2010 11:05am Apr 4, 2010 11:05am
Quoting pipmutt
Repeating it doesn't make it true!

Give us an example of some of these "far superior, & intangible reasons/motivations than money", unless you're just another one who's full of it!
I'll say it right now I'm in this for the money and nothing more! I can think of so many more enjoyable ways to spend my time after working on law school stuff than reading old posts and reading other crap about the forex market.
  • #56
  • Apr 4, 2010 11:46am Apr 4, 2010 11:46am
The old saying about opinions applies here, and yours is no exception.

Quoting pipmutt
OMG, enough already!

Money management and risk:reward are certainly not BS or unimportant, and no the most important thing isn't more winning trades than losing trades!

Seriously, what planet are some of you guys on?

The numbers in eagle-4x's post which you quoted, which he quoted from another equally clueless noobs post, are screwed, they don't make sense! The blog which he posted a link to is pathetic, half a page of convoluted description about how to work out 2% of your account and trade size, and the rest is some misleading...
  • #57
  • Edited 12:14pm Apr 4, 2010 12:03pm | Edited 12:14pm
Quoting pipmutt
Repeating it doesn't make it true!
Give us an example of some of these "far superior, & intangible reasons/motivations than money", unless you're just another one who's full of it!
example?
am i supposed to lecture someone much older & experienced than me?

oh... here's an example. (although it's inferior... it's a 'clue')
Quoting AstonDan
I'm here for the girls.
...
that's enough for Easter Sunday pipmutt.
i know you. i wont play your game. i play mine.
if u are interested to know, make it your quest to know the answer/s. i believe u are old enough for that.
Happy Easter!
  • #58
  • Apr 4, 2010 1:00pm Apr 4, 2010 1:00pm
Quoting pipmutt
You mean this guy?


http://i40.tinypic.com/24p9k4i.jpg
, The funniest thing i have seen in awhile. I should print this out and post it on my wall, to remind myself of what can happen if i get too greedy.
  • #59
  • Apr 4, 2010 1:11pm Apr 4, 2010 1:11pm
Quoting rtiger29
, The funniest thing i have seen in awhile. I should print this out and post it on my wall, to remind myself of what can happen if i get too greedy.
Too greedy can be bad... but remember always keep a healthy amount of greed. It's a good motivational driver.
  • #60
  • Apr 4, 2010 1:42pm Apr 4, 2010 1:42pm
Quoting pipmutt
OMG, enough already!

Money management and risk:reward are certainly not BS or unimportant, and no the most important thing isn't more winning trades than losing trades!

Seriously, what planet are some of you guys on?

The numbers in eagle-4x's post which you quoted, which he quoted from another equally clueless noobs post, are screwed, they don't make sense! The blog which he posted a link to is pathetic, half a page of convoluted description about how to work out 2% of your account and trade size, and the rest is some misleading...
Pipmutt, keep on socking it to us, love your post's.

I don't declare anything with authority. I just state my opinion my thoughts.

Please tell me what is more important than having more winners than loser's.

If I was having more loser's than winner's, I wouldn't rely on on mm, r/r, etc to save me, I would concentrate my energy onto either changing the way I a trade , or find another way to trade.
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