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7 years at FF - some humble advice

  • #41
  • Jun 22, 2011 5:43am Jun 22, 2011 5:43am
Quoting privatefr
and it is not a joke.

LESS TRADES.
LESS LEVERAGE.
LESS EXPECTATIONS.

= MORE CONSISTENT PROFITS IN THE LONG TERM.


Pepe
yeah I know... I was just bored at the time. I RORRY!
  • #42
  • Jun 22, 2011 8:07am Jun 22, 2011 8:07am
Quoting CalistogaKid
Amen! I'm a complete newbie, and the only reason I'm not already broke is because I'm aware of how little I actually know.
The difference between an educated and uneducated person is that the former knows how much he doesn't know, while the latter doesn't know what he doesn't know.
  • #43
  • Edited 1:24pm Jun 22, 2011 12:09pm | Edited 1:24pm
well, it is easy after 14,000 screen hours LOL

"GREENSPAN: A GREECE DEFAULT ALMOST CERTAIN"

"ECB'S TRICHET: SEES CONTAGION RISK FROM DEBT PROBLEMS IN SOME NATIONS"

NO QE3?
  • #44
  • Jun 22, 2011 3:18pm Jun 22, 2011 3:18pm
Thanks! It's pretty common for me to feel overwhelmed. I can always use the encouragement.
Quoting Dopey
The difference between an educated and uneducated person is that the former knows how much he doesn't know, while the latter doesn't know what he doesn't know.
"The only way to win the game is not to play." - B. S. Miller
  • #45
  • Jun 22, 2011 10:38pm Jun 22, 2011 10:38pm
got the down move as I did. From where I posted here in FF was an easy down way to enjoy a lot of profits.

Plenty of money, like a Cornucopia of pips, got it in both in gbp/usd and eur/usd, and I am done for the month* (well over my monthly profit target). Time to enjoy life even more.

*Less is more remember?

Good Trades to All

Pepe
  • #46
  • Jun 22, 2011 11:04pm Jun 22, 2011 11:04pm
Quoting pip_seeker
I am never done trading... I am watching and sizing you up. Your best hope is that you don't come up against someone like me....
I am not trading against you.... I am trading against myself. My belief system and my baggage is what I have to overcome. There is enough money in the market for the both of us. Getting my share has more to do with being disciplined and overcoming my psychological roadblocks than out smarting you.
  • #47
  • Jun 23, 2011 7:04am Jun 23, 2011 7:04am
Yes, I agree with you. The "enemy" is inside you. The battle is against you. The charts will never hurt you, but your actions upon the charts, YES.

One time, several years ago, I was talking to a very good trader in Indonesia (dont remember too much than that and this true history). I was asking why he took a trade that was against his own system, and he told me seriously something that I never forgot: "because the evil was whispering in my ears".

A few years later, another trader, a great one, that was my trading partner at that time, lets call him B, totally burned his account, against his systems again, and when I asked why he replied to me: "REVENGE" (for a series of totally normal losses).

The conclusion: dont let the evil whisper in your ears, and dont let him to be inside you.

Don't trade with emotions never ever. Don't trade of you are too tired, or too stressed, or drunk. Protect you capital. Don't be in a hurry.
Less is more (TM). I liked that one. LOL

Gone to the beach.

Pepe
  • #48
  • Jun 23, 2011 7:16am Jun 23, 2011 7:16am
Quoting privatefr
Yes, I agree with you. The "enemy" is inside you. The battle is against you. The charts will never hurt you, but your actions upon the charts, YES.

One time, several years ago, I was talking to a very good trader in Indonesia (dont remember too much than that and this true history). I was asking why he took a trade that was against his own system, and he told me seriously something that I never forgot: "because the evil was whispering in my ears".

A few years later, another trader, a great one, that was my trading partner at that...
Enjoy the beach.. still riding a small portion from 1.4426.. told you.. news discounts.. I just had no idea it was basically the highest point before the down move

wish my account was larger tho.. no glory in my trade really ROFL
  • #49
  • Jun 23, 2011 1:45pm Jun 23, 2011 1:45pm
nice topic
thanks
  • #50
  • Jun 23, 2011 2:48pm Jun 23, 2011 2:48pm
I remember Jacko, i was just starting out and read a few posts in FF so i decided to be his turtle...... The rest is history.....bad history.
  • #51
  • Jun 23, 2011 2:58pm Jun 23, 2011 2:58pm
Quoting privatefr
Yes, I agree with you. The "enemy" is inside you. The battle is against you. The charts will never hurt you, but your actions upon the charts, YES.

One time, several years ago, I was talking to a very good trader in Indonesia (dont remember too much than that and this true history). I was asking why he took a trade that was against his own system, and he told me seriously something that I never forgot: "because the evil was whispering in my ears".

A few years later, another trader, a great one, that was my trading partner at that...
excellent point I saw the movie the Last Rite just recently I think many are possessed by the Evil demonic whisper and need to exorcise themselves from this evil!!
  • #52
  • Jun 23, 2011 3:16pm Jun 23, 2011 3:16pm
^^ Yes, evil whispering has some religeous connotations to it.

How do you manage that?
Searching for a cure...:nerd:
  • #53
  • Jun 23, 2011 4:46pm Jun 23, 2011 4:46pm
Excellent thread . I agree with you on some topics, but not all. Personally my trading really took off when I stopped posting on FF. I learned very quickly, to stop looking for the holy grail, it doesn't exist.

I also learned to stand on the shoulders of giants, I found some amazing traders and learned from them.
  • #54
  • Jun 27, 2011 9:57am Jun 27, 2011 9:57am
not trading anymore this month, but I am not in vacation, so I am monitoring the markets and studying the world economics, so I can do my best to have another profitable month, next month.

I really liked this comment in FOREXLIVE,

EUR/USD blows through stops above 1.4250
Written by Jamie Coleman
June 27, 2011 at 14:26 GMT


Just crossing the wires, the US Supreme Court has struck down limits on violent video games. FX is much like a violent video game at times (especially if short EUR/USD this morning), isn’t it?

A violent video game? Good analogy, may be a Circus? There is no problem either, just try not to be the clown (without knowing it)

Trade SAFE.

Pepe
  • #55
  • Jun 27, 2011 10:02am Jun 27, 2011 10:02am
Quoting privatefr
not trading anymore this month, but I am not in vacation, so I am monitoring the markets and studying the world economics, so I can do my best to have another profitable month, next month.

I really liked this comment in FOREXLIVE,

EUR/USD blows through stops above 1.4250
Written by Jamie Coleman
June 27, 2011 at 14:26 GMT


Just crossing the wires, the US Supreme Court has struck down limits on violent video games. FX is much like a violent video game at times (especially if short EUR/USD this morning), isn’t it?

A violent...
havent traded EUR/USD today.. was waiting to get long but the market took off without me.. not chasing
  • #56
  • Jun 27, 2011 10:06am Jun 27, 2011 10:06am
Quoting newyear498
havent traded EUR/USD today.. was waiting to get long but the market took off without me.. not chasing
I suspect the EUR/USD will return to 1.4120 this week at some point and I'll hop in it.. no rush
  • #57
  • Jun 29, 2011 8:53pm Jun 29, 2011 8:53pm
well I am not trading until Friday an probably Sunday or Monday, and that surely save me a lot of stress in this crazy week.

Anyway... I will translate what says in this charts that I found elsewhere in the net..."In the market you can see whatever you want"

Pepe
Attached Image
  • #58
  • Jun 30, 2011 1:00am Jun 30, 2011 1:00am
i just realised i joined this form on september 11.
  • #59
  • Jun 30, 2011 1:15am Jun 30, 2011 1:15am
Hi this is what we need to know.

thx for sharing
  • #60
  • Jun 30, 2011 9:53pm Jun 30, 2011 9:53pm
Be a Market Analyst!!

Read carefully amazing MARKET ANALYSIS RECOMMENDATION, by a "Director of Technical Research and Education", (not a famine trader like you and me!!) and just go to the bank to cash your pips:

EUR/USD (daily chart) as of Thursday (6/30/2011) has reached up to hit the upper border of a large triangle consolidation pattern with its high at the early May 1.4940 high and its low at the late May 1.3970 low. Price has not only reached the upper border of this triangle, but has also slightly surpassed key resistance around the 1.4500 price region. Therefore, price is currently at a critical juncture. With the last four days showing marked bullishness, the pair should soon experience some form of bearish retracement. Despite any retracement or correction, in the event of a strong breakout above this triangle’s upper border, a clear upside resistance target resides around the 1.4700 price region.

Just in case you didn't understand this classic piece of junk art (you can do your entire career of "Market Analyst" just re writing this one), I will explain to you.

Price reaches a certain "key level" and you must consider that is a sure thing that will go up or down.

I should be looking for a new job!!

Pepe
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