Ok, can't hold my head straight anymore, falling asleep.. will be back here tomorrow with results for april (most terrible month 
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- #63
- May 6, 2011 12:40am May 6, 2011 12:40am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
April has accelerated overal loss on this account:
-$177.20. And I was REALLY picky this month, taking only the strongest BUOBs/BEOBs in my opinion. I have all this pics on my PC for later review, but even today they look as perfect A+ trades to me.
Total loss so far -10%
P.S. I wonder if ANYONE has a positive equity curve?
Probably just a few on this whole Forum. If any.... For example I was closely following trader Xaron, as I heard he was a winner in a competion (few times I think, so we can assume he is a stong and very experienced trader) and he was one of those rare few who posted actual results... unfortunately TWO 1K accounts have vanished before my eyes in just a few months.... and now there is noone to show an actual ( demo ) results.... I know this is probably because no one wants to show their millions (on demo accounts) 
Back to monitor...
-$177.20. And I was REALLY picky this month, taking only the strongest BUOBs/BEOBs in my opinion. I have all this pics on my PC for later review, but even today they look as perfect A+ trades to me.
Total loss so far -10%
P.S. I wonder if ANYONE has a positive equity curve?
Probably just a few on this whole Forum. If any.... For example I was closely following trader Xaron, as I heard he was a winner in a competion (few times I think, so we can assume he is a stong and very experienced trader) and he was one of those rare few who posted actual results... unfortunately TWO 1K accounts have vanished before my eyes in just a few months.... and now there is noone to show an actual ( demo ) results.... I know this is probably because no one wants to show their millions (on demo accounts) Back to monitor...
- #64
- May 6, 2011 1:08am May 6, 2011 1:08am
- Joined Mar 2008 | Status: Trader | 1,462 Posts
trader Xaron,
P.S. I wonder if ANYONE has a positive equity curve?
Get in touch, go to lunch, have a beer and just talk. It helps. It has nothing to do with how they trade, their method, etc...more about seeing with your own eyes (ie not online) that some people are carving something out of this business.
Lastly, I know when I continuously updated my PnL to date during a drawdown period, it impacted my trading. I was focused on being down X amount and needing to get it back but at the same time deathly scared of dipping my equity any further.
I start every week fresh now. I don't give a shit about last week, last month, last year and need to be completely focused on grasping all opportunities ahead without fear, hesitation, depression, and so fourth.
"Past performance is not indicative of future results" - Thankfully, this phrase works both ways. Keep that in mind.
If you took your trades, managed your money correctly, you did your job. Don't change your method based upon a limited drawdown. Keep an eye on what's going on...a few months down the road, as the markets evolve and trends change, if you're still hitting very low, reevaluate.
Hope this helps
- #67
- Edited 8:12am May 6, 2011 7:54am | Edited 8:12am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
- #68
- May 6, 2011 8:10am May 6, 2011 8:10am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
If that will help you. I know personally 3 guys with over 5 year trading experience which make a pretty good living from their profits but they are not trading forex and chart is only one of their tools in the box. So ....yes ...it is possible.... but everyone of them were going thru very bad times and lots of doubts.
Well maybe I need an edge, different kind of edge. Will it be my better trade management or different method - don't know. But trading those Buobs, Pinbars and watching account consistently going down, without EC trying to bounce (at least for 1 or too good trades) is hard
Next month is 1 year anniversary of trading J16... and all I remember for this year is lots of Breakevens (demo and real) and dozen full stops. I think I was not able to get even ONE 1R Trade... most of them were like 0.2R or so...
I am thinking of what Razorman said, or something like DIBS trade management style... well I need to change everything, maybe even setups themselves. Is just really stupid to keep on doing what I do now and continue to watch account going down and down... really stupid
- #70
- May 6, 2011 8:55am May 6, 2011 8:55am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
Would you be able to tell me why AudJpy went strongly up after NFP and EurUsd barely moved?
If after 5 non-profitable years of full time trading you are not having a clue about that answer then it might be the direction when you should shift your attention.
that is AFTER.5 years in Futures, Options, Stocks. Forex started with J16. It is good to know why AUDJPY went strongly up and EURUSD barely moved AFTER NFP, it is also good to know art, poetry, history. Unfortunately it will not help to profit.
If you could make money on this AUDJPY move with knowing or without knowing - then this counts. Otherwise is just theoretical knowledge. Knowing things is NOT ENOUGH one must APPLY IN PRACTICE that knowledge and benefit from it (profit).
If I wanted to know, to sound good, logical and smart my dream would be to become first class analyst and talk on our local TV all that stuff why things went up or down and kiss my bosses ass for salary raise... but I have another goal, I need to beat the odds somehow...
- #71
- May 6, 2011 9:34am May 6, 2011 9:34am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
5 years in Futures, Options, Stocks. Forex started with J16. It is good to know why AUDJPY went strongly up and EURUSD barely moved AFTER NFP, it is also good to know art, poetry, history. Unfortunately it will not help to profit.
If you could make money on this AUDJPY move with knowing or without knowing - then this counts. Otherwise is just theoretical knowledge. Knowing things is NOT ENOUGH one must APPLY IN PRACTICE that knowledge and benefit from it (profit).
If I wanted to know, to sound good, logical and smart...
- #73
- May 6, 2011 9:51am May 6, 2011 9:51am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
Adi with all respect but your thinking here is very shallow. You are unprofitable for 5 years, yet you have so strong conviction about you being right about it. It is not about knowing it after the fact ...it is about knowing what is moving the market and to be prepared to profit from the market reaction to those events. I see you are trying to beat me with your experience but honestly after working with all those markets you should have that sorted out. I gave you simple question and you didnt put even small amount of work to find any answer.....I...
But GH, something WILL HAPPEN for sure after NFP.
Price will go either up or down for sure. If only you know which way - you will profit, or if you'll know that price will not move at all you can profit too... unfortunately we can never know before the fact.
.it is about knowing what is moving the market and to be prepared to profit from the market reaction to those events.
This is Holy Grail right there, if you could do that, just repeat it and there is no reason for not becoming a very rich person, very soon. But in reality is a little different though, it will not help. If it did analyst and better yet economists would be the best traders around, instead as you know many of them would laugh at the idea to trade for themselves and most never trade. In my personal experience with one of those "gurus" and honestly a real smart man replied to me with this "haha are you kidding? I am not a gambling person..." that's all.
It is not that I am trying to beat you with my experience, instead I am ashamed that I am here for FIVE years and still a looser.
But I know more than few who are doing this for 10 - 20 years. LOOSING!
This is not experience for them, this is just Addiction.
GH, let's be honest you are around for some time too. Is your equity curve positive until today? Most likely it is not and you are like me "confident" that it should change some day if we tweak here and there, learn more, improve, develop.
I hope so. I am not giving up. But man if no one in the world can show a positive equity curve for some significant length of time this is something really scary...
I hope to be the first one some day, ha... If my effort fails at least I could use my "experience" to teach and sell my super profitable method to the public. (hope this will never happen though)
- #76
- May 6, 2011 11:41am May 6, 2011 11:41am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
- #78
- May 6, 2011 11:54am May 6, 2011 11:54am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
- #79
- May 6, 2011 12:11pm May 6, 2011 12:11pm
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
I didn't mean to be rude. Sorry if I sounded so.
But GH, something WILL HAPPEN for sure after NFP.
Price will go either up or down for sure. If only you know which way - you will profit, or if you'll know that price will not move at all you can profit too... unfortunately we can never know before the fact.
.it is about knowing what is moving the market and to be prepared to profit from the market reaction to those events.
This is Holy Grail right there, if you could do that, just repeat it and there is no reason for not...
- #80
- May 6, 2011 12:21pm May 6, 2011 12:21pm
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
I will say one thing only... Your avatar suits you Sir
