Dislikedi love u fana.[just platonic love]u seems to be very sensitive person.Ignored
Inserted Video
This girl died in her 33yrs. How would you feel telling her abou how YOU ARE (about you man:-). Try to imagine it. Regards.
Technical Analysis Fallacy
- #22,942
- Edited 2:36am Feb 11, 2011 2:16am | Edited 2:36am
- | Joined Sep 2009 | Status: Trader | 420 Posts
500 pips? Why not cut the position loose? A position from September to now is definitely dead in waters. At any point in time that high rescue skews are used, the trader needs to be in daylight mode (actively managing positions). If the trader leaves the desk due to frustration or fear, they must cut loose or skew down to only a fraction of their normal position sizes.
Having bad experiences leaves psychological bruises as well as account losses. This is what is missing in your definition of fti's MO. "time and capital" also requires the YOU factor. Being afraid of a pair or thinking that it's possible rescue a position over 500 pips (or beyond daylight) will breed fear and ego scorpions. This is much worse than greed.
About greed..when the market is moving 100-200pips in your direction, the trader should try to squeeze everything out of it up to acceptable levels of risk/reason. But when a bad experience happens, people become afraid to pull the trigger (thus taking only 10-20pips instead of a larger fraction of 100-200 pips). Greed and determination can be separated. You need determination that is free of greed.
10% a month is waaay too high. The only way I can think of that would give this result is if you were deploying heavy skews every time. This is very dangerous. Even at high aggression I think fti brought in about 40%. Very very high skews should only be used once out of a blue moon. Maybe your scout size is not adjusted yet?
Are you in demo/using a very small account? Trading is a battlefield. They should not step into real battlegrounds unless they are ready to give it their all. Being a part time trader does not mean giving part-time attention.
EDIT: I wanted to mention that 20-30 pips is not small change. It's big big money if you have danced correctly. Consistency is nice, but real-life trading is not consistent. Trying to trade consistently is very rigid and will undermine your live performance. 7 months or 100 years of trading does not matter. You are only as good as your last trade.
Also, following fti's blotter is dangerous. His dancing is an example, and people should not imitate him when they are learning. They should get the idea. This is one of the reasons why I think fti hesitates to show his blotters and his more capital intensive strategies. Because he is afraid that he will give us the means to our own destruction. The skews, tolerance, number of pips ect should all be of our own design to fit our own personality.
Having bad experiences leaves psychological bruises as well as account losses. This is what is missing in your definition of fti's MO. "time and capital" also requires the YOU factor. Being afraid of a pair or thinking that it's possible rescue a position over 500 pips (or beyond daylight) will breed fear and ego scorpions. This is much worse than greed.
About greed..when the market is moving 100-200pips in your direction, the trader should try to squeeze everything out of it up to acceptable levels of risk/reason. But when a bad experience happens, people become afraid to pull the trigger (thus taking only 10-20pips instead of a larger fraction of 100-200 pips). Greed and determination can be separated. You need determination that is free of greed.
10% a month is waaay too high. The only way I can think of that would give this result is if you were deploying heavy skews every time. This is very dangerous. Even at high aggression I think fti brought in about 40%. Very very high skews should only be used once out of a blue moon. Maybe your scout size is not adjusted yet?
Are you in demo/using a very small account? Trading is a battlefield. They should not step into real battlegrounds unless they are ready to give it their all. Being a part time trader does not mean giving part-time attention.
EDIT: I wanted to mention that 20-30 pips is not small change. It's big big money if you have danced correctly. Consistency is nice, but real-life trading is not consistent. Trying to trade consistently is very rigid and will undermine your live performance. 7 months or 100 years of trading does not matter. You are only as good as your last trade.
Also, following fti's blotter is dangerous. His dancing is an example, and people should not imitate him when they are learning. They should get the idea. This is one of the reasons why I think fti hesitates to show his blotters and his more capital intensive strategies. Because he is afraid that he will give us the means to our own destruction. The skews, tolerance, number of pips ect should all be of our own design to fit our own personality.
Thanks for the alerti had learn that through the hard way..500 pips drawdown...
Brought Mamood's fav Jap lady at 85.5 in Sep 2010.. only manage to get out recently at a small token loss..
Now I never go near that woman again
This MO requires just two basic ingredients.. Time and Capital, both is lacking as a part-timer traders with full time commitment elsewhere.
Greed is something I had in control now.. i will just take whatever the market gives and dont ask for more. the market can be moving 100-200 pips in my direction.. i am satisfied...
- #22,946
- Feb 11, 2011 3:51am Feb 11, 2011 3:51am
Thanks for the harsh words... give a good knocking on my thick skull 
500 pips? Why not cut the position loose? A position from September to now is definitely dead in waters. At any point in time that high rescue skews are used, the trader needs to be in daylight mode (actively managing positions). If the trader leaves the desk due to frustration or fear, they must cut loose or skew down to only a fraction of their normal position sizes.
Having bad experiences leaves psychological bruises as well as account losses. This is what is missing in your definition of fti's MO. "time and capital" also requires the YOU factor. Being afraid of a pair or thinking that it's possible rescue a position over 500 pips (or beyond daylight) will breed fear and ego scorpions. This is much worse than greed.
Yes Sir ..it is my fault to leave the positions unattended.. fear and ego scorpions was all over me for that first few weeks
High rescue skews need capital, especially that devilish Japanese lady moves one way only with little retrace..
I was much much under capitalized and biting more than i can chew at that time
At that time i have only 3 choices, cut losses, get margin call, or top up the account to keep fighting
I promise I will never leave my baby unattended again
About greed..when the market is moving 100-200pips in your direction, the trader should try to squeeze everything out of it up to acceptable levels of risk/reason. But when a bad experience happens, people become afraid to pull the trigger (thus taking only 10-20pips instead of a larger fraction of 100-200 pips). Greed and determination can be separated. You need determination that is free of greed.
This is the part i am still weak in reading the chart.. screen time.. screen time and more screen time is needed to improve that
10% a month is waaay too high. The only way I can think of that would give this result is if you were deploying heavy skews every time. This is very dangerous. Even at high aggression I think fti brought in about 40%. Very very high skews should only be used once out of a blue moon. Maybe your scout size is not adjusted yet?
I did not use high skews at all, i use high leverages 1:500:disappointed:
The highest attack i did was 1,1,2.. this is once in a blue moon.
Mostly is 1,1
5K account trading 1.5 mini lot around 1.5 USD per pip
20 pips will give you around 50USD which is 1% ( my target)
Do that 2-3 times a week will hit the 2-3% (week target)
Are you in demo/using a very small account? Trading is a battlefield. They should not step into real battlegrounds unless they are ready to give it their all. Being a part time trader does not mean giving part-time attention.
This part I disagree, I am a doer person, if I never get into deep shit, i will never learn..If I never get margin call or 500 pips drawdown, I will never understand myself..I think this is part of self discovery..
Playing with Demo or peanut account just gives me a false sense of hope
EDIT: I wanted to mention that 20-30 pips is not small change. It's big big money if you have danced correctly. Consistency is nice, but real-life trading is not consistent. Trying to trade consistently is very rigid and will undermine your live performance. 7 months or 100 years of trading does not matter. You are only as good as your last trade.
I had blown many many accounts in the past 3 years,had the high of doubling account in one month and lost it all in one session..
Consistency is the ultimate goal for me, hopefully it will become like a reflex
Also, following fti's blotter is dangerous. His dancing is an example, and people should not imitate him when they are learning. They should get the idea. This is one of the reasons why I think fti hesitates to show his blotters and his more capital intensive strategies. Because he is afraid that he will give us the means to our own destruction. The skews, tolerance, number of pips ect should all be of our own design to fit our own personality.
Mamood had said, trading 250K account during competition (I hope i get the figure right) is so much easier to implement attack and rescue skews
This highlight the fact that $ makes $.. and you need $ to make it
500 pips? Why not cut the position loose? A position from September to now is definitely dead in waters. At any point in time that high rescue skews are used, the trader needs to be in daylight mode (actively managing positions). If the trader leaves the desk due to frustration or fear, they must cut loose or skew down to only a fraction of their normal position sizes.
Having bad experiences leaves psychological bruises as well as account losses. This is what is missing in your definition of fti's MO. "time and capital" also requires the YOU factor. Being afraid of a pair or thinking that it's possible rescue a position over 500 pips (or beyond daylight) will breed fear and ego scorpions. This is much worse than greed.
Yes Sir ..it is my fault to leave the positions unattended.. fear and ego scorpions was all over me for that first few weeks
High rescue skews need capital, especially that devilish Japanese lady moves one way only with little retrace..
I was much much under capitalized and biting more than i can chew at that time
At that time i have only 3 choices, cut losses, get margin call, or top up the account to keep fighting
I promise I will never leave my baby unattended again
About greed..when the market is moving 100-200pips in your direction, the trader should try to squeeze everything out of it up to acceptable levels of risk/reason. But when a bad experience happens, people become afraid to pull the trigger (thus taking only 10-20pips instead of a larger fraction of 100-200 pips). Greed and determination can be separated. You need determination that is free of greed.
This is the part i am still weak in reading the chart.. screen time.. screen time and more screen time is needed to improve that
10% a month is waaay too high. The only way I can think of that would give this result is if you were deploying heavy skews every time. This is very dangerous. Even at high aggression I think fti brought in about 40%. Very very high skews should only be used once out of a blue moon. Maybe your scout size is not adjusted yet?
I did not use high skews at all, i use high leverages 1:500:disappointed:
The highest attack i did was 1,1,2.. this is once in a blue moon.
Mostly is 1,1
5K account trading 1.5 mini lot around 1.5 USD per pip
20 pips will give you around 50USD which is 1% ( my target)
Do that 2-3 times a week will hit the 2-3% (week target)
Are you in demo/using a very small account? Trading is a battlefield. They should not step into real battlegrounds unless they are ready to give it their all. Being a part time trader does not mean giving part-time attention.
This part I disagree, I am a doer person, if I never get into deep shit, i will never learn..If I never get margin call or 500 pips drawdown, I will never understand myself..I think this is part of self discovery..
Playing with Demo or peanut account just gives me a false sense of hope
EDIT: I wanted to mention that 20-30 pips is not small change. It's big big money if you have danced correctly. Consistency is nice, but real-life trading is not consistent. Trying to trade consistently is very rigid and will undermine your live performance. 7 months or 100 years of trading does not matter. You are only as good as your last trade.
I had blown many many accounts in the past 3 years,had the high of doubling account in one month and lost it all in one session..
Consistency is the ultimate goal for me, hopefully it will become like a reflex
Also, following fti's blotter is dangerous. His dancing is an example, and people should not imitate him when they are learning. They should get the idea. This is one of the reasons why I think fti hesitates to show his blotters and his more capital intensive strategies. Because he is afraid that he will give us the means to our own destruction. The skews, tolerance, number of pips ect should all be of our own design to fit our own personality.
Mamood had said, trading 250K account during competition (I hope i get the figure right) is so much easier to implement attack and rescue skews
This highlight the fact that $ makes $.. and you need $ to make it
- #22,947
- Feb 11, 2011 3:54am Feb 11, 2011 3:54am
"I had been consistent for the past 7months since June 2010.. 2% per week..10% per month except that Jap woman's saga." dannbb
That is a very consistent result. Well done. Ray
- #22,948
- Feb 11, 2011 4:28am Feb 11, 2011 4:28am
I had blown many many accounts in the past 3 years,had the high of doubling account in one month and lost it all in one session..
Consistency is the ultimate goal for me, hopefully it will become like a reflex
----
Mamood had said, trading 250K account during competition (I hope i get the figure right) is so much easier to implement attack and rescue skews
This highlight the fact that $ makes $.. and you need $ to make it
Was it Jest or fti who said - if you want to play bring enough money
Capitalization is key if you look for fixed amt $$$ as profit, it is much easier to make $250 with 250K than 5K. However if you use a broker who allows flexible size (such as Oanda) then ease of skew is just a function of troop size relative to equity*leverage. Naturally size makes a difference for other reasons, for too small account boredom sets in and one loses focus, for very large account in the millions it would be more difficult to make a few percent per session.
Regards,
Baifu
- #22,949
- Feb 11, 2011 5:31am Feb 11, 2011 5:31am
- | Joined Mar 2009 | Status: Trader | 1,849 Posts
Hi Dannbb. It is an ant work to reach goals. Emotions must be trimmed and fully under the control - when trading. Not system, not market, but YOU. Thus, is not so important to reach 1% or trade 1,5minilot, but learn to be menthaly strong. Btw, i havent seen what is your risk apetite there.. there is only % of what you will earn or dollars in your pocket... Regards
Thanks for the harsh words... give a good knocking on my thick skull
500 pips? Why not cut the position loose? A position from September to now is definitely dead in waters. [u]At any point in time that...
- #22,956
- Feb 11, 2011 6:40am Feb 11, 2011 6:40am
Hi Ukmanthailan. Yes, this is not so +/-, but in context with the dannbb mindset it will lead to blow another account. Regards
-the mind is always seeking excuses for failing and this is one of them.
-scorpion will tell you to invest more money(not to reveal failure).
Cut me some slack... i am still a newbie in FTI's teaching..only able to reread the first 200 pages 3 times i think
- #22,957
- Edited 7:02am Feb 11, 2011 6:51am | Edited 7:02am
- | Joined Mar 2009 | Status: Trader | 1,849 Posts
Considering my this acct survive the last 7 months.. with 500 pips drawdown.. this call for celebration right?
Cut me some slack... i am still a newbie in FTI's teaching..only able to reread the first 200 pages 3 times i think
Now you tend to hunt your loses. It only will lead to another loses.
Fti : "Apologies
-no mentor, or course, or literiture can give anyone the holy grail to the secrets of success in trading in the markets.
-"and no one, sells the goose that lays golden eggs, probably the eggs, but never the goose"
Nevertheless, I will humbly attempt."
- #22,958
- Feb 11, 2011 7:09am Feb 11, 2011 7:09am
You are joking? You read 3times first 200pages and you are considering some paying for some forex course? Dont look for shortcuts, they dont exist. Reduce positions and proof profitability for some time with it.
Now you tend to hunt your loses. It only will lead to another loses. Regards
1) Reduce positions
yes i can do that
2)and proof profitability for some time with it.
How long is some time? how to know when you are ready?
apart from the 500 pips saga which i had lose a total of 68 USD at the end of it.
I had manage average 10% every month for the last 7 months
but i still feel i am not ready yet.. some say 3 month.. some say 6 months..
no i am not considering paying for forex course.. i am saying i consider my current 5k account is my tuition fees for forex... learning on the job
I am a fast reader.. I skim through pages fast... but often miss out some details.. ( I always found new infoinsight when i read it again)
i will consider reading it a few more times in the next few months.