Would it be too much trouble to pay me back my $20,000, my sexy darling? | Page 23 | Forex Factory

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Would it be too much trouble to pay me back my $20,000, my sexy darling?

  • #441
  • Sep 23, 2010 10:41am Sep 23, 2010 10:41am
Less is more?

I hope things get worked out on the home front so you can get back to it full time.

Take care Mac.

Quoting M.A.C.Doug
I havent been trading very much, I have a tax debt problem and other financial problems due to extended unemployment/trading losses that I now have to address. I have been busy with work and only checking the market occaisionally. I only have a very small live account. During this time I bought gold at 1200 and held till 1270, I am holding GBP/USD at 1.5370 and I got 300 pips from my 1.31 entry on Euro. These trades have doubled my account and I was hardly even trying. The few times I have scalped I lost. I have other battles to fight at the moment...
  • #442
  • Edited 10:04pm Sep 23, 2010 5:11pm | Edited 10:04pm
Quoting sam0182
Less is more?
I think this post sums up the lesson very nicely
Quoting sam0182
I believe being constantly busy with various obligations & projects is essential to coping with the ups and downs of trading & avoiding over trading. I essentially diversify my (emotional) risk between regular employment, proprietorships and being a semi-professional retail trader. When the day job sucks, I divert more attention into my business and/or trading efforts. Staying emotionally balanced is key.
Cheers http://cdn.forexfactory.com/images/s.../yim/happy.gif
I would include family to that list. I spend alot of time with my GF and her kids now that mine have flown the coup. I took some money I could have put in my account and took them on a snowboarding holiday instead. Trading is not my main focus or priority anymore and that seems to have increased my performance.
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  • #443
  • Sep 23, 2010 7:21pm Sep 23, 2010 7:21pm
Hey Mac...If i have one thing to suggest to you it will be to go and play poker online, you are a good trader already but you are still lacking in psychological understanding of trading. You will be grateful i told you this. You will learn so much about trading and it will give you the perfect mindset to make sure what happened in the past never repeat.

I have blown accounts before but since i started playing poker, things turned around for me.
If i have to train a person to trade, he will have to read poker books first and play a lot of poker online before i teach him anything about trading.
This may sound crazy to anyone but just have an open mind towards this idea.
  • #444
  • Sep 23, 2010 7:23pm Sep 23, 2010 7:23pm
Also stop posting your statement, it had a big impact on me than i thought it would, i stopped doing it and trade privately with no pressure.
  • #445
  • Edited Sep 24, 2010 8:49pm Sep 23, 2010 9:56pm | Edited Sep 24, 2010 8:49pm
Quoting Deman-Uc
Also stop posting your statement, it had a big impact on me than i thought it would, i stopped doing it and trade privately with no pressure.
I concede this point also. I have already stopped doing that for the time being. Every time I was doing well I had investors waiving huge sums in my face and I tanked the account within a week of that happening - twice! I was just trying to help by sharing my experience both good and bad. I am posting here much less also. I am interested in poker. I have a book called Texas hold em for dummies that I havent got around to reading yet. I wasnt sure how applicable to trading the game is but it looks like fun anyway. Would you mind explaining a little more about poker/psychology/trader relationship?
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  • #446
  • Sep 24, 2010 11:11pm Sep 24, 2010 11:11pm
Quoting M.A.C.Doug
1:10 risk/reward on this GBP/USD daily chart technical set up that I noticed over the weekend. Should get a decent bounce at least enough to lock in break even at the C level. Its a nice fib confluence of 38.2% of A-B and 38.2% of X-A. A nice head and shoulder supported by daily pivots on the lower time frame supported my timing and Im 30 pips up as I type

long 1.5370
stop 1.5270
tp1 1.6370
tp2 1.7070
Doing well after 1 week up 440 pips

Quoting M.A.C.Doug
1.38 is the first real resistance I believe the Euro will encounter on its way to 1.42 and then 1.48.
Although I still hold this view, I have closed out my long and will look to scalp the retrace from the 1.3500/50% fib level early next week for what I see as an easy safe 50 pips with a tight stop
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  • #447
  • Sep 25, 2010 9:20am Sep 25, 2010 9:20am
awesome work mac
  • #448
  • Sep 26, 2010 9:07pm Sep 26, 2010 9:07pm
Quoting M.A.C.Doug
I have closed out my long and will look to scalp the retrace from the 1.3500/50% fib level early next week
Ok I got +25 pips out of the short for a 1.5% return at first fib support on the hourly chart. Extreme retail positioning short has me playing careful . There would be a s$%t load of stops above 3500 that will almost definetly be taken out before any real retrace would happen. Im looking to get long from 1.3440 (previous resistance now support) and ride the stop hunt upto 1.3505. I will try shorts from there till 1.3525 and look to get long term long again after a retrace or break of that level
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  • #449
  • Sep 27, 2010 7:15am Sep 27, 2010 7:15am
Hi Mac,

Ive been browsing through your journal having a read the last couple of weeks & enjoyed it. Just wanted to say a thanks for sharing your trading story.

Nice clear simple charts also

Good luck with your trading going forwards. Well played with the 1:25 trade
  • #450
  • Edited 12:14pm Sep 27, 2010 10:52am | Edited 12:14pm
Quoting M.A.C.Doug
Im looking to get long from 1.3440 (previous resistance now support) and ride the stop hunt upto 1.3505. I will try shorts from there till 1.3525
I called this 8 hours in advance of it playing out just as I said. All trades had a maximum 10 pip, 1% risk and returned 10% to my account. I am currently flat
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  • #451
  • Sep 28, 2010 5:36am Sep 28, 2010 5:36am
Quoting Pursestrings
Hi Mac,

Ive been browsing through your journal having a read the last couple of weeks & enjoyed it. Just wanted to say a thanks for sharing your trading story.

Nice clear simple charts also

Good luck with your trading going forwards. Well played with the 1:25 trade
Im glad you liked it, thanks for dropping by and saying hello. Feel free to drop in anytime.
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  • #452
  • Sep 28, 2010 6:17am Sep 28, 2010 6:17am
Quoting M.A.C.Doug
...and look to get long term long again after a retrace or break of that level ( 1.3505)
Well we got the retrace all the way down into the 1.3380's and I did get long quite a few times on the way down patiently taking my losses until my fortunes finally turned and I pullled up 1% in front for the day, not as clean or as good as my 10% yesterday but not bad considering I had to work today. Although I took profit at the trend line backside retest, I really should have reversed short there and I am a bit pissed with myself for not taking that short. I dont know what its going to do next, I suspect some consolidation/ranging for a while
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  • #453
  • Oct 20, 2010 3:35am Oct 20, 2010 3:35am
Quoting M.A.C.Doug
I concede this point also. I have already stopped doing that for the time being. Every time I was doing well I had investors waiving huge sums in my face and I tanked the account within a week of that happening - twice! I was just trying to help by sharing my experience both good and bad. I am posting here much less also. I am interested in poker. I have a book called Texas hold em for dummies that I havent got around to reading yet. I wasnt sure how applicable to trading the game is but it looks like fun anyway. Would you mind explaining a little...
Hey Mac i havent been here for long time, about poker and trading, one of the thing you will learn is theres never a sure thing.(a guaranteed trade). In poker you can have a hand you are 98% favorite to win on the turn, and your opponent catches a miracle 2 outa and suckout on you( win).
It ingrains the idea that anything can happen deep in your brain. Meaning you take money management seriously.

You will never play with your whole bankroll( poker term for account) or a significant portion of it in front of you, even in a game you are a big favorite ti win(ie your opponent are clueless). Because its been ingrained in your mind that bad players suck out a good amount of times...ie they get money in as the underdog and win by the end of the hand.

Theres a lot but these are just a few things.

Gl
  • #454
  • Nov 22, 2010 11:32pm Nov 22, 2010 11:32pm
As requested
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  • #455
  • Nov 27, 2010 2:02pm Nov 27, 2010 2:02pm
Quoting ingmarforex
As requested
nice chart, did you have this pattern in mind after the a-b leg? if so you were able to identify the targets for c and d ahead of time. I see there is a live position open but I dont understand the relationship between the position you opened and the analysis.

Thanks for posting. I havent traded for months now. I have been working hard and I have managed to pull in front financially. Life is good, I live with my lady and her 5 kids. I come home from work and take them bike riding or shoot some hoops with the older ones. I havent been happier in a long time. The thought of going back to the pc screen day and night does not appeal to me anymore. I plan to come back when I have enough funds to make it worthwhile and then trade daily charts mostly.
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  • #456
  • Nov 27, 2010 2:53pm Nov 27, 2010 2:53pm
Quoting M.A.C.Doug
nice chart, did you have this pattern in mind after the a-b leg? if so you were able to identify the targets for c and d ahead of time. I see there is a live position open but I dont understand the relationship between the position you opened and the analysis.

Thanks for posting. I havent traded for months now. I have been working hard and I have managed to pull in front financially. Life is good, I live with my lady and her 5 kids. I come home from work and take them bike riding or shoot some hoops with the older ones. I havent been happier in...
Good to hear from you MAC, best to you man!
  • #457
  • Dec 5, 2010 2:06am Dec 5, 2010 2:06am
Quoting M.A.C.Doug
....... then trade daily charts mostly.
first trading for nearly three months. I couldnt resist this buying opportunity given my long held fundamental bias. The Aussie formed a reversal cluster of doji/spinningtop at long term support but I have no tech analysis for the Euro - just thought it was a good time to buy given the recent Fed statement re further QE and all the negative news and opinion about the Eurozone.
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  • #458
  • Dec 5, 2010 3:08am Dec 5, 2010 3:08am
Quoting M.A.C.Doug
The Aussie formed a reversal cluster of doji/spinningtop at long term support
Here is the Aussie analysis that prompted me to enter the market
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  • #459
  • Dec 5, 2010 7:26am Dec 5, 2010 7:26am
Quoting M.A.C.Doug
first trading for nearly three months..
//---
//---

hey mac...... welcome back...... ......

sounds like you have found the proportional balance...... the positive mental effects of hoops, bikes and lady can carry over into trading...... balanced positive activities tend to help me refrain from overtrading.......

when the trading opp's are not there, the bikes, hoops, kids and lady will still be..... nothing beats a good bike ride with an army of kids.... don't forget to invite the lady along, just for laughs of course.......h
to trade and code, keep both simple... no call to impress....h
  • #460
  • Dec 7, 2010 4:13am Dec 7, 2010 4:13am
Quoting hayseed
//---
//---

hey mac...... welcome back...... http://cdn.forexfactory.com/images/s...m/thumbsup.gif......
Thanks - its nice to be back, so far anyway

more succesful buying at higher time frame fib and ppz support confluence. Also a confirmed trend line break to finish the day. Up to my old tricks again
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