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My trading journey

  • #2,921
  • May 21, 2011 7:34pm May 21, 2011 7:34pm
being nimble really pays me well... but having patience to add to that is out of this world experience...

2 days in a row... giving me pips sky high... and few exposures still running

a good sunday to all!
Success consists of going from failure to failure without loss of enthusiam
  • #2,922
  • May 21, 2011 11:17pm May 21, 2011 11:17pm
i was attracted to forex, i guess, just like most of us, to get extra income and if successful, make it a primary source of income. as a beginner, i really dont know where to start. by reading the threads here in ff, i start to learn but i know, not enough to trade live.

i've been to james16 and learned a little bit of pa but i thought there should be some other way to supplement pa trading. using a stop loss is also a question to me. that's when i found fti's taf a month ago. i struggled in understanding the way fti delivered his teachings maybe because i was so overwhelmed by the number of post i need to read and my want to learn asap. so i thought there should be somebody who can translate the teachings in simple terms. that's when i found your journal.

Quote
Okay, as what most of the forex traders do... since you ask me about it, i can tell (in my humble opinion) you what i think best in your situation...

ed, please know there's people like me who are following your journey and are learning from it. we really appreciate what you're doing.

my mo from what i learned so far:
- being nimble is very important
- main goal is to protect and preserve capital
- identify where price will most likely go using higher tf
- use lower tf for entry with scout
- if scout is correct, attack
- if scout is wrong, prepare to rescue but be very patient in choosing a rescue point. i will only try upto 2 rescues otherwise surrender and move on

pls feel free to make correction but hey, thanks again and keep it up, we are learning and we want to learn more.

Quote
There is no eternal damnation in the market. The only time you really fail is when you quit in disgust and admit defeat.

this is true because you cannot recover what you lost if you quit.

btw, i'm still in demo.

good luck to you and to all!!
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #2,923
  • Edited 12:11am May 22, 2011 12:01am | Edited 12:11am
Quoting lananpips
i



my mo from what i learned so far:
- being nimble is very important
- main goal is to protect and preserve capital
- identify where price will most likely go using higher tf
- use lower tf for entry with scout
- if scout is correct, attack
- if scout is wrong, prepare to rescue but be very patient in choosing a rescue point. i will only try upto 2 rescues otherwise surrender and move on


Hi,
the more time you spend infront of the monitor watching price gyration the more familiar your eyes will be and you can see a pattern as she moves, reacts and rejected some important levels...
and sooner or later you will start to feel her....

when i started dancing this method... i never do rescues so often simply because... i don't know how...
so it's best for you to start learning the basics like chart patterns, supply and demand or support and resistance... and also market structure...

just try to read TAF from the early threads and you will get all the 'gems'... all the materials that fti has mentioned... and a lot of stuff...

dance with demo account first and be familiar with your partner it takes time though but it will come to you... if you're not a quitter and have patience to learn.

regards,

p.s.
in real time, i normally check weekly and daily tf for direction... then down to 4hr and hourly...
- now i will check current PA where it is... if up from daily open (yesterday's close) then i will have my bias...
- when 4 hours and hourly chart is pointing to the same direction... to me that is a good solid direction to get in...
- 5 min and 1 minute to pin point my entry... and dance with 5 minute tf...
- with good volatility and momentum... and ridding the trend... will focus on 15 minutes or sometimes hourly chart...
- not until the strength of direction fades... i will stay with exposure...
- then scale down my positions when need be...
Success consists of going from failure to failure without loss of enthusiam
  • #2,924
  • May 22, 2011 6:36am May 22, 2011 6:36am
..absorbing and will follow..thanks
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #2,925
  • May 22, 2011 9:00pm May 22, 2011 9:00pm
my personal view... eu will do pull back but best to short and aussie the same... best to short it...

....... going for a quick pip for now...
bx3x4080 ... eu

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Success consists of going from failure to failure without loss of enthusiam
  • #2,926
  • May 22, 2011 9:24pm May 22, 2011 9:24pm
opps... killed all troops... 4068
Success consists of going from failure to failure without loss of enthusiam
  • #2,927
  • May 22, 2011 10:58pm May 22, 2011 10:58pm
Let's try again this time... might be successfull...

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Success consists of going from failure to failure without loss of enthusiam
  • #2,928
  • Edited 11:31pm May 22, 2011 11:16pm | Edited 11:31pm
now in rescue mode...

bx10x4048 ...eu

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Success consists of going from failure to failure without loss of enthusiam
  • #2,929
  • May 22, 2011 11:26pm May 22, 2011 11:26pm
Hi Dongsky,

Thanks for your reply. I will be posting more about what I did in the past and what I wish to do in another post or a PM to you.

I am really excited about going naked in the deep , but as you suggested...with a demo first.


cheers!
  • #2,930
  • May 22, 2011 11:34pm May 22, 2011 11:34pm
Quoting niksan
Hi Dongsky,

Thanks for your reply. I will be posting more about what I did in the past and what I wish to do in another post or a PM to you.

I am really excited about going naked in the deep , but as you suggested...with a demo first.


cheers!
Try to experiment with yourself... until you will find your comfortable skew for start... digest it and be more familiar with your pair and yourself...

try to have the correct mindset... read fti's running a battle mindset...

... just dance and be nimble...

goodluck and regards
Success consists of going from failure to failure without loss of enthusiam
  • #2,931
  • May 22, 2011 11:36pm May 22, 2011 11:36pm
it feels like... a deep pull back is coming...

we'll see... for now... nimble!

something's good will gonna happen

crossing my fingers though!

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Success consists of going from failure to failure without loss of enthusiam
  • #2,932
  • Edited May 23, 2011 12:04am May 22, 2011 11:48pm | Edited May 23, 2011 12:04am
and now... Squared... 4070

.........
i have a strong feel that this will be a strong pullback... but since i'm in a rescue mode... don't want to over stay... and having a big size exposure...

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Success consists of going from failure to failure without loss of enthusiam
  • #2,933
  • May 22, 2011 11:56pm May 22, 2011 11:56pm
... how would i feel now... if i didn't squared positions and overstay...

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Success consists of going from failure to failure without loss of enthusiam
  • #2,934
  • May 23, 2011 12:06am May 23, 2011 12:06am
... it could be a sideway move now????

i'm still squared! i don't have any directional bias at the moment
Success consists of going from failure to failure without loss of enthusiam
  • #2,935
  • May 23, 2011 12:29am May 23, 2011 12:29am
Quoting dongsky
Hi Niksan,

So you're ready to take a further step away with your trading... to open a live account that's good... but wait a second... how sure are you that you're ready to live trading???

Okay, as what most of the forex traders do... since you ask me about it, i can tell (in my humble opinion) you what i think best in your situation...

since i don't know you personally... i may suggest to you to open a demo account first with the same amount that you want to put for a live account... for example; if you're thinking to open...


Hi Dongsky,

Thanks for your reply! I think I get your point regarding demoing before going live. The reason I would want to demo it is that I haven't really tried to trade based on what FTI teaches. So demoing on an account which would be exactly of the same amount of the live acount I plan to have is an awesome idea.

Other than that, I have used demo accounts of whatever (huge) amounts and also have a live account which I have managed to blow a couple of times in last 3 years. I haven't put much into it each time but now if I look back and sum up all the deposites it goes more than 3.5k which is a lot for me. But...I am not worried, I know I am going to get all this back and more, because I understand that its not market's fault but my own. I can clearly see where I went wrong in the past to loose that money.

I got to know about forex in late 2007 and started to learn that based on what I knew about trading stocks. I have gone through each and every 'trading system' posted in the FF system's forum and some other sites also. I have went through almost every other indicator, scripts present on MQL4 site. I have spent almost 3 years and 3.5k to learn that they are (almost) useless. They will not make to good pips. (This is the same story for most of the traders, being successful 'pigs' for years..lol)

I have also realised that it is not "their" fault either. I can not blame the indicators/systems but myself. I can blame myself for not accepting what the PA told me and instead focusing on what the systems/indis are showing. I can blame myself for being greedy, followed by anger and a whole lot of emotions. I am to be blamed for trying to chase the price and getting my money back. I can literally see all this when I take my account's statement and look at every trade's results.

Having noted my weaknesses and having read fti (and still re-reading), I am sure that I am on the right path. I will learn to feel the price on the demo, see how it goes and to what degree I am able to manage my emotions (as if it was real money). Learn not to be greedy, beware of the scorpion.

Thanks a Ton for everything
  • #2,936
  • May 23, 2011 1:27am May 23, 2011 1:27am
Quoting dongsky
... it could be a sideway move now????

i'm still squared! i don't have any directional bias at the moment
Hey eddy!

I'm not busy at work so I got a little free time and dug out something.

Last friday = Sell off by a US custody Bank on EU/USD
SNB = active on EU/CHF

Then in cable, India is buying on those levels right now...


So big boys on the move...

then mamood warning about news.
  • #2,937
  • May 23, 2011 1:32am May 23, 2011 1:32am
Quoting niksan
Hi Dongsky,

Thanks a Ton for everything
That's the way
if you want you can post your screenshots here and we can together agree or disagree with it... it could be fun.

regards,
Success consists of going from failure to failure without loss of enthusiam
  • #2,938
  • May 23, 2011 1:33am May 23, 2011 1:33am
Quoting eraptheman
Hey eddy!

I'm not busy at work so I got a little free time and dug out something.

Last friday = Sell off by a US custody Bank on EU/USD
SNB = active on EU/CHF

Then in cable, India is buying on those levels right now...


So big boys on the move...

then mamood warning about news.
Thanks but still cannot relate to what you're saying or perhaps it's just me... i'm a moron when it comes to fundies...

but i appreciate for your kind gesture...

regards,
Success consists of going from failure to failure without loss of enthusiam
  • #2,939
  • May 23, 2011 1:36am May 23, 2011 1:36am
... the kind of PA that needs to be ignore

i'm sitting on my fingers ...

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Success consists of going from failure to failure without loss of enthusiam
  • #2,940
  • May 23, 2011 1:40am May 23, 2011 1:40am
Quoting dongsky
Thanks but still cannot relate to what you're saying or perhaps it's just me... i'm a moron when it comes to fundies...

but i appreciate for your kind gesture...

regards,
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