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That feeling you get...

  • #41
  • Aug 16, 2011 1:04am Aug 16, 2011 1:04am
Quoting LasVahGoose
A little off topic, but wanted to share. I'm a regular at a coffee shop in town, I know all the employees and several of the other customers are regulars and we chit chat now and then. I normally don't pay attention to what people wear, but I couldn't help but noticed that like every other girl had the same purse. I was thinking there was sale or something. I had no idea what brand it was and I sure as hell as a guy wasn't going to ask, but I did say I was going to find out. It has been bugging me for weeks.

Then you post the first video and on...
You must be going to Starbucks, hehe. Yea it is very popular brand among women. It's also a brand that has been around for awhile. I remember my mom having a Louis Vuitton when I was a child (because of the logo).
  • #42
  • Aug 16, 2011 1:17am Aug 16, 2011 1:17am
Fantastic thread.

One of my favorite quotes.

Many of life's failures are people who did not realize how close they were to success when they gave up.

Thomas Edison
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #43
  • Aug 16, 2011 1:24am Aug 16, 2011 1:24am
Quoting Rufus
Fantastic thread.

One of my favorite quotes.

Many of life's failures are people who did not realize how close they were to success when they gave up.

Thomas Edison
the problem is there is usually not much in the way of knowing how close or far you really are to success. people may suggest you are close, but if you have reached the limits of your potential then you are eternally far from success. success sometimes creeps up on you too without you noticing.
Congratulations ScalaFX for coming out of the closet!
  • #44
  • Aug 16, 2011 4:41am Aug 16, 2011 4:41am
Trouble is Las, not one person in here can answer that question because it depends on things we don't know about.
If you're hitting B/E pretty regular, you need to start doing some digging across both individual trades and your trading footprint.
The former is could you have traded better? Are you lacking discipline? how much are your mistakes costing you? Are they really mistakes or do you lack experience to recognise when X is happening? Can you improve recognition? Are you revenge trading? All this stuff you know I'm sure.

The trading footprint you may not have done. Get a statement in excel and crunch it. Look for:
- trade costs as proportion of profits/losses
- disposition (how long you hold winner:loser)
- effect of scale

These 3 alone can turn a stellar year into a dog year and vice versa. Trade costs may make you rethink how many times you enter/exit a pos.
Disposition. Obviously it's strat dependent, but generally speaking, you're looking for a higher value of winner:loser. Typically, if you're b/e, you'll find it's nearer 1:1
Effect of scale. Strat dependent, but does varying position size, usually according to confidence, actually benefit or harm your position. If you don't, do you have varying confidence in your trades? Is it worth applying?

Remember that casino gamblers work their nuts off to get an edge of a couple of %. If you've not done this kind of forensics before, you could well be in for a few pleasant surprises.
  • #45
  • Aug 17, 2011 4:44am Aug 17, 2011 4:44am
Quoting triphop
The trading footprint you may not have done. Get a statement in excel and crunch it. Look for:
- trade costs as proportion of profits/losses
- disposition (how long you hold winner:loser)
- effect of scale

These 3 alone can turn a stellar year into a dog year and vice versa. Trade costs may make you rethink how many times you enter/exit a pos.
Disposition. Obviously it's strat dependent, but generally speaking, you're looking for a higher value of winner:loser. Typically, if you're b/e, you'll find it's nearer 1:1
Effect of scale. Strat...
I was looking for these on MyFxBook and FF's Trade Explorer, I didn't see them, but I think I can get these figured out.

I know you don't post often, but when you do you make it count, so I really appreciate you taking the time to add a response.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #46
  • Aug 17, 2011 5:06am Aug 17, 2011 5:06am
There are days where I feel so in tune with the market and I wait for the setups, take them, and just nail it. Unfortunately those days are few. In all honesty I did quit a month or so ago, but decided to get back in. I'm going back to DEMO as of this morning... Being under capitalized is a big problem and the small 'real' accounts just isn't working for me anymore. But at the same time you don't want to throw any real money in until you can really pull out the profits.

I know my MM is something that can be improved. I'm picking better s/r levels, I'm making better entries overall, but my TP is shit because I get too greedy. I'm not system hoping like I was and actually have a strategy I like and can stick with so now I can start to have some consistency with a single method.

I think back to demo maybe the way to go for a bit. When I started this whole trading thing I gave myself 5 years to 'make it'. I always thought I'd go the full 5 years, never once did I think to quit early. I got 3 years in already (minus a few months), I might as well finish my 'education'.

Thanks for the support, there really are some great people on this forum. Thank You to everyone.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #47
  • Aug 17, 2011 5:49am Aug 17, 2011 5:49am
Quoting LasVahGoose
I'm picking better s/r levels, I'm making better entries overall, but my TP is shit because I get too greedy.
Not sure about making it count, but I'll add this - if say EU hadn't been ranging so much, you'd have commended yourself on your discipline. Seeing as it has (I'm taking a guess here of course, not knowing TFs, trades etc), you're berating yourself on taking TP too early.

Greed has nothing to do with it. You enter to win every time right?
Your TP is shit because you can't predict/recognise reversal points. That's all. Nothing more, nothing less. Either you get better at that, use a statistical likely exit based on pips or time, or use an MA crossover exit/trail. And here's a dirty little secret; the worse you are at recognising reversals, the more you'll need to depend on stuff which is psychologically much harder - seeing big drawdowns on long-running positions.

As for the gauging the psychology of the market, broadly speaking if you're in a trade and;
- you're wondering how many girls will fit on your future bitch deck it's time to close, or at least trail.
- you're climbing the wall of worry and you're focused on how it might go wrong, you're on the right track.

Good trading...
  • #48
  • Aug 17, 2011 6:00am Aug 17, 2011 6:00am
Quoting LasVahGoose
I was looking for these on MyFxBook and FF's Trade Explorer, I didn't see them, but I think I can get these figured out.

I know you don't post often, but when you do you make it count, so I really appreciate you taking the time to add a response.
I could not get explorer to work for some reason it never synced up it just kept showing I never traded after several days of trading and clicking "sync"

anyways I also tried myfxbook and they only accept metatrader accounts.. whatever set one up and still couldn't get it to find my account / the steps confused me

  • #49
  • Aug 17, 2011 8:26am Aug 17, 2011 8:26am
Quoting triphop
N

As for the gauging the psychology of the market, broadly speaking if you're in a trade and;
- you're wondering how many girls will fit on your future bitch deck it's time to close, or at least trail.
- you're climbing the wall of worry and you're focused on how it might go wrong, you're on the right track.

Good trading...

Beautiful


V
  • #50
  • Aug 18, 2011 1:18am Aug 18, 2011 1:18am
Every once in a great while someone will post something exceptionally illuminating on FF.

This is one of those posts.

Quoting Dopey
When I was young I used to think that someday I would have everything that was problematic for me eventually figured out...
It's a clear reminder of what we often forget...

1. Things take time.

2. You can't substitute the experience of actually "being there".

So as a general rule of thumb... kickback, relax, and go look at some charts.

It's probably going to be a while.
  • #51
  • Last Post: Aug 18, 2011 9:16am Aug 18, 2011 9:16am
Rofl, you should be an editor. Good summary.

Quoting mr.marketz
Every once in a great while someone will post something exceptionally illuminating on FF.

This is one of those posts.



It's a clear reminder of what we often forget...

1. Things take time.

2. You can't substitute the experience of actually "being there".

So as a general rule of thumb... kickback, relax, and go look at some charts.

It's probably going to be a while.
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