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EurAnalysis Kindergarten 24 replies

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  • #19,461
  • Jan 13, 2012 1:02pm Jan 13, 2012 1:02pm
Quoting AaronWard
Actually, the Tibetans are a scary, warlike people. Tibet was just about the only place in all of China where I did not feel safe.
I suppose I was referring to the place where the monks reside in Tibet.
  • #19,462
  • Jan 13, 2012 1:11pm Jan 13, 2012 1:11pm
take care guys, i'm away for a few days as none of my stats will be ready for trading until approx wednesday...happy trading
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #19,463
  • Jan 13, 2012 1:14pm Jan 13, 2012 1:14pm
Quoting Tyoon
I suppose I was referring to the place where the monks reside in Tibet.
LOL. I guess I have an ax to grind, always having to defend the CN government.
Kill the ego, or it will kill the mission.
  • #19,464
  • Jan 13, 2012 1:20pm Jan 13, 2012 1:20pm
Ending this week happily able to take out 100 % of the principal plus 10 % of the profit ... there is truly a past me (not with EurAnalysis) and present me (with EurAnalysis) .. lot of challenges still need to be taken care of but life is like this or not?

Happy week-end to all .... you all are truly helpful
  • #19,465
  • Jan 13, 2012 1:23pm Jan 13, 2012 1:23pm
Quoting rekon67
Ending this week happily able to take out 100 % of the principal plus 10 % of the profit
Awesome.
Kill the ego, or it will kill the mission.
  • #19,466
  • Jan 13, 2012 1:23pm Jan 13, 2012 1:23pm
I'm a rookie trader who's been following this thread for a couple months. There seems to be an impressive amount of knowledge amongst this posse and a great sense of comradery.

I've been struggling with e/u since switching from demo (demoed for 6 mo.) where I was profitable. When trades go against me, I turtle and turn into a total wus, adjusting my SLs. Much of the time I go back and see that if I'd let my trade marinate I would have hit TP. Any tips other than "sack up", for the newbie who's struggling to stick to his guns? Thanks. This is by far my favorite threat on FF. Cheers
  • #19,467
  • Jan 13, 2012 1:31pm Jan 13, 2012 1:31pm
Quoting Tyoon
This is why I respect monks and their practise. Their inner world or true 'subjective objectivity' allows them to control their thoughts, emotions and bodies. Their fear, greed and hate is eliminated by pure choice and control. They don't put importance on the outside world that fucks with their head. They perceive and define everything based on choice without any erratic reactional behaviours.

Perhaps us traders should learn to meditate while trading.
Im surprised to see u mentioning about meditation coz i do meditate 3x a week, 1hr 30min each time and been 4 years by now. And just like wat you've mentioned above, meditation is about controlling each mind and emotion. I have to maintain my mind 'blank' and concentrate on every 'amitabha' that comes out from my mouth. Believe me or not, it ain't an easy task to do. Our mind is too attached with the things around us; jobs, technologies, women and most importantly money. Only a strong mind and heart can prevent one from being attached to those things just like the monks as they clearly know that it's of no importance to them at all, keeping their mind free of disturbance. So, can we traders keep our minds free of forex charts while meditating? Honestly, I do fail sometimes.
  • #19,468
  • Jan 13, 2012 1:37pm Jan 13, 2012 1:37pm
Quoting GrizzNasty

I've been struggling with e/u since switching from demo (demoed for 6 mo.) where I was profitable. When trades go against me, I turtle and turn into a total wus, adjusting my SLs. Much of the time I go back and see that if I'd let my trade marinate I would have hit TP. Any tips other than "sack up", for the newbie who's struggling to stick to his guns? Thanks. This is by far my favorite threat on FF. Cheers
Smaller lot size and practice of discipline. Turn the computer off if you have to.

OR

adjust your trading system to fit your personality.
Kill the ego, or it will kill the mission.
  • #19,469
  • Jan 13, 2012 1:38pm Jan 13, 2012 1:38pm
Quoting GrizzNasty
I'm a rookie trader who's been following this thread for a couple months. There seems to be an impressive amount of knowledge amongst this posse and a great sense of comradery.

I've been struggling with e/u since switching from demo (demoed for 6 mo.) where I was profitable. When trades go against me, I turtle and turn into a total wus, adjusting my SLs. Much of the time I go back and see that if I'd let my trade marinate I would have hit TP. Any tips other than "sack up", for the newbie who's struggling to stick to his...
Hi Grizz,

My suggestion to you right now is to do something to get rid of the emotion (fear) which is costing you money.

The best way I and many others have found is to trade with micro lots until you build some more confidence. It's only logical to follow a baby-step principle.

First you trade with fake money (just sit there)
Then you trade with very small money (crawl)
Then you trade with larger amounts (walk)
Then you go for gold (run)

If you go from "Just sitting there" to "running", you will surely fall flat on your face, and deservedly so

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #19,470
  • Edited 5:00pm Jan 13, 2012 1:44pm | Edited 5:00pm
GoldMan,

Outstanding & I am still laughing my ass off. Seriously you have only stated what many more are thinking at times, but they just don't say it.
I to at times find myself drifting to those same thoughts after over twenty yrs of trading that began with stocks in the eighties & now with forex. I remember one day in the beginning of my stock trading days trading nasdaq level II which was in & out scalping in a matter seconds at times & I lost 5K in less than a minute on one trade & I sat there & thought what in the hell am I doing here......money, excitement & all for what......I just lost 5k, but it hit me....I am here to trade & make money. Anyway America is a great country, but the leadership has caused more people to start thinking in the same way as you, but life goes on & we most not give up. There is no better business than trading.....I have certainly enjoyed it, but it can get boring at times & that is when I start to think why am I doing this.

You just might have George beat with your philosophy. Keep it coming & have a great weekend.

________________________
  • #19,471
  • Jan 13, 2012 1:48pm Jan 13, 2012 1:48pm
Quoting GrizzNasty
I'm a rookie trader who's been following this thread for a couple months. There seems to be an impressive amount of knowledge amongst this posse and a great sense of comradery.

I've been struggling with e/u since switching from demo (demoed for 6 mo.) where I was profitable. When trades go against me, I turtle and turn into a total wus, adjusting my SLs. Much of the time I go back and see that if I'd let my trade marinate I would have hit TP. Any tips other than "sack up", for the newbie who's struggling to stick to his guns?...
You were profitable on demo but you failed live, this means that there is a lot you need to learn about yourself. This is a mind game and biggest battle is with youself. There is nothing much I can reccomend but only be patient and go back over each and every trade you made and look what mistakes you made, was it a emotional mistake, or technical...if you can then print those charts out.
You will ONLY become successful if you consistently analyse your mistakes and learn from them.
  • #19,472
  • Jan 13, 2012 2:02pm Jan 13, 2012 2:02pm
so whats up with S&P now? where are the news? Bloomberg doesn't say anything. S&P said they will give statement at 9PM CET...

S&P site gives no response lol
  • #19,473
  • Jan 13, 2012 2:07pm Jan 13, 2012 2:07pm
Quoting pzd3mir
so whats up with S&P now? where are the news?
Stay tuned to this site --> http://www.forexlive.com/

They are always on the ball. If there is any news to report, they will have it.
If you leave the page open be sure to turn the AutoRefresh feature on. It is located at the top right hand side of the page.

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Those who say it cannot be done should not interrupt those who are doing it
  • #19,474
  • Jan 13, 2012 2:31pm Jan 13, 2012 2:31pm
Quoting PipTrapper
Stay tuned to this site --> http://www.forexlive.com/

They are always on the ball. If there is any news to report, they will have it.
If you leave the page open be sure to turn the AutoRefresh feature on. It is located at the top right hand side of the page.

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IMHO the best forex news and commentary on the net. Highly recommend
I don't care which way the market is going as long as it's going my way
  • #19,475
  • Jan 13, 2012 2:33pm Jan 13, 2012 2:33pm
Whoop, whoop, whoop

It's 3:33 before a 3 day weekend
I don't care which way the market is going as long as it's going my way
  • #19,476
  • Jan 13, 2012 2:33pm Jan 13, 2012 2:33pm
Quoting Ch1l1MaN
Im surprised to see u mentioning about meditation coz i do meditate 3x a week, 1hr 30min each time and been 4 years by now.
I admire your discipline to actually practise meditation and focus your mind to the point of theta. I used to practise a lot a few years ago. That moment when you mind clicks, and everything seems clear and still, is a beautiful place to be.

I believe using the chart/tick movement could be a great use of meditation. Instead of using your breath or mantra, you can use the movement of the candle sticks to help clear your mind. When your mind reaches a deep state of relaxation your unconscious mind can assimilate patterns far more affectively than it can consciously. When a setup occurs, a pattern revealed, your mind is clear and objective and you place a trade in a clear state of mind.

I remember reading a story about my favourite psychologist, Milton Erickson. He was the worlds best hypnotist. A form of advance hypnosis was named after him - Ericksonian hypnosis. He was a very smart man with a very strong sense of acuity - pretty much a Sherlock Holmes. He had such a strong connection with his unconscious mind that he could literally put himself into a trace and treat a patient. When he awoke from his self-hypnotic trance his patient's session was a success and he didn't even know how he did it - his unconscious did all the work for him.

Nuts isn't it?

Trade bots are mostly successful because they don't have any emotions, they are as objective are you are going to get. They have an edge because they are building bots to learn like the mind does - neural networking. The fact is a bot will never beat the unconscious mind. We have no fucking idea how amazing the unconscious mind is. Have you seen Limitless? I honestly think if we knew how to use our minds we could all function like that. The shitty reality is that we all have forgotten and have been trained and habituated to using our minds the wrong way - that is why meditation is so damn hard.

As Goldman said in an earlier post, trading is a mind game. Your conscious mind is the thing fucking up or limiting your success. The fear, impulse and greed is all conscious reactions. There are many times I got my analysis right but lost money. The fact is that my psychology is causing me to make shitty stops and TPs. That is why I am working on my MM and overall strategy right now.
  • #19,477
  • Jan 13, 2012 2:36pm Jan 13, 2012 2:36pm
Quoting PipKiller
Whoop, whoop, whoop

It's 3:33 before a 3 day weekend
Isn't every day a weekend for you?
Those who say it cannot be done should not interrupt those who are doing it
  • #19,478
  • Jan 13, 2012 2:40pm Jan 13, 2012 2:40pm
Greece is the word…

The downgrades have taken up most of the oxygen in the room today but the bigger news is that Greece (and the rest of the EU) and the banks are miles apart in the PSI talks. Even if that deal gets done, Greece would have a very difficult time sustaining its debt. Without it, they default by the end of March.

It’s crunch time, kids.

Anyone who wants to buy EUR/USD weakness because the downgrades are “old news” needs their head examined.

It’s a shell game. Don’t get caught watching the downgrades. Watch Greece.

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Those who say it cannot be done should not interrupt those who are doing it
  • #19,479
  • Jan 13, 2012 2:52pm Jan 13, 2012 2:52pm
Quoting PipTrapper
Watch Greece.!
..
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  • #19,480
  • Jan 13, 2012 2:56pm Jan 13, 2012 2:56pm
Quoting Tyoon
..
Those who say it cannot be done should not interrupt those who are doing it
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