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Price is Everything Chat Room

  • #1,141
  • Jan 20, 2012 4:19am Jan 20, 2012 4:19am
Quoting Tyoon
Cheers Buma, you've obviously worked very hard yourself. I think the one thing people lack when learning to trade is self-belief. If they do not believe they can make it then they're not going to put in their hardest efforts. The two ingredients to succeeding in anything is desire and belief, then all the other attributes follow.

Lol, we all tend to get distracted easily. It becomes a problem when you cannot focus at all or cannot pay attention to any task. If they label you as having ADD just take it with a pinch of salt because they love...
Back testing - great!

If you happen to come across back testing ea that allows multiple tfs, please let me know
  • #1,142
  • Jan 20, 2012 6:19am Jan 20, 2012 6:19am
Quoting Gabe2004
I don't know how many noticed but trades that end up as losers are mostly ignored by the original poster.
There is rarely a chart showing the result of a losing trade and if there is any mention of a loser it is with a short criptic sentence.
Surely there are more losing trades that started as wining trades than are posted.
Some traders seem to have only winning trades.
As far as I can remember, effective learning for me was the result of analyzing an error or a bad execution. (regardless of the field this happened in)
I don't think that posting...
Posting bad trades just isn't fun

Personally i don't care about other peoples trades. I do care about the "why are they looking at that area"(the S/D part).

I'm sure all the serious traders are analyzing their errors, otherwise they can't improve.

If you combine PIE with strict MM you will have an edge.

I'm screwing up 22 out of 100 on eur/usd incl. BE, so i have some room to improve. But my MM allows me to still be profitable.

Yesterday i saw a post with huge drawdown which turned positive for scalps. That might be PIE based, but there was no strict MM so in my opinion just a gamble. If the poster now looks back and starts to work on his R:R he would have closed the trades gone bad with a loss and entered at a better price making the same profit or more with lower risk :nerd:

Here's one of my screw-ups.

Ps. i don't use MT4 for trades
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  • #1,143
  • Jan 20, 2012 6:31am Jan 20, 2012 6:31am
Thanks MW.
From some of the posters it seemed as if shorting @ S or going long @D is fullproof.
I thought that I was missing something (I still am ) because not all trades at S/D turn out well.
The idea of NOT waiting for confirmation to increase profitability does not work for me or at least I haven't mastered it yet.
And yes, with confirmation reduces profitability and makes a bad trade (fake confirmation) even worse.

Gabe




Quoting MitchWorse
Posting bad trades just isn't fun

Personally i don't care about other peoples trades. I do care about the "why are they looking at that area"(the S/D part).

I'm sure all the serious traders are analyzing their errors, otherwise they can't improve.

If you combine PIE with strict MM you will have an edge.

I'm screwing up 22 out of 100 on eur/usd incl. BE, so i have some room to improve. But my MM allows me to still be profitable.

Yesterday i saw a post with huge drawdown which turned positive for scalps. That might be PIE based,...
Every rule has an exception. Except for this one.
  • #1,144
  • Jan 20, 2012 8:05am Jan 20, 2012 8:05am
@kaspopiscle,tyoon, and all

leaking your mindset directly on a paper, for me is the biggest step in TRADING!
You could easily write down this trading system (which actually works!),
and give it to 10 different people. You would get totally different results.
It's if you would give same recepie for cake to 10 people. Are they all gonna taste or even look the same?

I had an amazing S/D system figured out in July, but my mind wasnt ready!
Realising that, i sat down with myself, writing down all the mistakes i had noticed. Working them out.

Kicking out teh greed, emotional response, fear of not catching the trade, revange trading, and so on... But i am nearly through all this .


Now I am pretty relaxed with trading. I came to the stage i never imagined .
----

you blew your accout? say it out loud! cous we all been there.
You got a chaotic mind?,,, Realisation of that is also huge step .



MIKY
--Be in the NOW or get lost in time.--
  • #1,145
  • Jan 20, 2012 8:43am Jan 20, 2012 8:43am
Hey Miky. I didn't allow my live account to get blown. I had hit my 'threshold limit' - the limit of money I would allow myself to loose before I switched off the live account and went back to the drawing board.

Your very right in terms of psychology. There are all kinds of traders who use all different methods; some trade pure fundamentals, others trade pure MA PA. How can two traders who use two completely different methods still be successful? They use their psychology in a profitable way. That is the only common denominator.

As they teach in the Turtles; you have to learn to love to loose money - because loosing money is inevitable. When you overcome the fear of loosing money and missing opportunites and discard greed you can then focus properly making objective and unemotional decisions.

When you are relaxed and enjoy what you are doing you end up 'in the flow' where your success seems to come naturally without effort. It sounds like this is where you are heading and congratulations

All you need to do is clean out your chakras and raise your vibrations with meditative music aye

Quoting Miky
@kaspopiscle,tyoon, and all

leaking your mindset directly on a paper, for me is the biggest step in TRADING!
You could easily write down this trading system (which actually works!),
and give it to 10 different people. You would get totally different results.
It's if you would give same recepie for cake to 10 people. Are they all gonna taste or even look the same?

I had an amazing S/D system figured out in July, but my mind wasnt ready!
Realising that, i sat down with myself, writing down all the mistakes i had noticed. Working them...
  • #1,146
  • Jan 20, 2012 8:45am Jan 20, 2012 8:45am
Quoting Miky
@kaspopiscle,tyoon, and all

leaking your mindset directly on a paper, for me is the biggest step in TRADING!
You could easily write down this trading system (which actually works!),
and give it to 10 different people. You would get totally different results.
It's if you would give same recepie for cake to 10 people. Are they all gonna taste or even look the same?

I had an amazing S/D system figured out in July, but my mind wasnt ready!
Realising that, i sat down with myself, writing down all the mistakes i had noticed. Working them out.

Kicking...
well said Miky, we must go through there to become consistant profitable trader...
seeing through
  • #1,147
  • Jan 20, 2012 8:47am Jan 20, 2012 8:47am
Quoting Tyoon
Hey Miky. I didn't allow my live account to get blown. I had hit my 'threshold limit' - the limit of money I would allow myself to loose before I switched off the live account and went back to the drawing board.

Your very right in terms of psychology. There are all kinds of traders who use all different methods; some trade pure fundamentals, others trade pure MA PA. How can two traders who use two completely different methods still be successful? They use their psychology in a profitable way. That is the only common denominator.

As they teach...
Tyoon,

the FLOW!!

and haha, i was just headed to meditation.
Let you expand your consciousness too.

Quoting pipphunter
well said Miky, we must go through there to become consistant profitable trader...
At first when i heard that, i thought: "ah i am smarter than these guys!", and guess what happened xD.
One of the best side, maybe not noticable effects of becoming an amazing trader is loosing EGO.



with LOVE
Miky
--Be in the NOW or get lost in time.--
  • #1,148
  • Jan 20, 2012 8:51am Jan 20, 2012 8:51am
we all have the profit edge - ive seen a lot of miky's and tyoon's works together - we have the EDGE To make profit. we have made profit.

but we need consistency. thats what all traders need - conssistencyy.
Have I got something on my face, SOLDIER?
  • #1,149
  • Jan 20, 2012 8:52am Jan 20, 2012 8:52am
Do you meditate before trading? Or do you meditate during?

Have a nice session

Quoting Miky
Tyoon,

the FLOW!!

and haha, i was just headed to meditation.
Let you expand your consciousness too.



At first when i heard that, i thought: "ah i am smarter than these guys!", and guess what happened xD.
One of the best side, maybe not noticable effects of becoming an amazing trader is loosing EGO.



with LOVE
Miky
  • #1,150
  • Jan 20, 2012 8:55am Jan 20, 2012 8:55am
Quoting bumapatria
we all have the profit edge - ive seen a lot of miky's and tyoon's works together - we have the EDGE To make profit. we have made profit.

but we need consistency. thats what all traders need - conssistencyy.

Exactly! Buma

But how can a novice trader be consistent if he got like a "crap" of random thoughts poping up in his chaotic mind.

Clarity self-discipline + edge = consistency
--Be in the NOW or get lost in time.--
  • #1,151
  • Jan 20, 2012 8:57am Jan 20, 2012 8:57am
Quoting bumapatria
but we need consistency. thats what all traders need - conssistencyy.
Create, develop and refine your edge + MM + PM (psychological management)= consistent profitability. ADD Lol, Miky created a similar equation to me

I like TheRealThings post (http://www.forexfactory.com/showthread.php?p=205799#post205799) about developing your own solid consistent trade strategy.

Opps sorry kas for cross-threading again.
  • #1,152
  • Jan 20, 2012 8:58am Jan 20, 2012 8:58am
Quoting Tyoon
Do you meditate before trading? Or do you meditate during?

Have a nice session
Never thought of taht, i just meditate, mostly in teh evenings.

Though for sake of trading, is better to still teh mind beforehand. But if you are able to stay AWARE during trading, go for it. Play with it.

Quoting Tyoon
Create, develop and refine your edge + MM + PM (psychological management)= consistent profitability. ADD Lol, Miky created a similar equation to me

.
oops xD



MIKY
--Be in the NOW or get lost in time.--
  • #1,153
  • Jan 20, 2012 9:02am Jan 20, 2012 9:02am
Quoting Miky
oops xD
Goes to show we are on the same lines of thinking.... hopefully that is a good thing
  • #1,154
  • Jan 20, 2012 9:28am Jan 20, 2012 9:28am
Quoting Tyoon
I am only learning this myself, but I can give you some of my thoughts:
Thx for your answer mate
Trade Smart
  • #1,155
  • Jan 20, 2012 9:37am Jan 20, 2012 9:37am
Quoting Tyoon
Cheers Buma, you've obviously worked very hard yourself. I think the one thing people lack when learning to trade is self-belief. If they do not believe they can make it then they're not going to put in their hardest efforts. The two ingredients to succeeding in anything is desire and belief, then all the other attributes follow.

Lol, we all tend to get distracted easily. It becomes a problem when you cannot focus at all or cannot pay attention to any task. If they label you as having ADD just take it with a pinch of salt because they love labelling...
Hi mate,
don't forget play with R:R otherwise your W/L ratio doesn't mean too much even if W/L is very high.
  • #1,156
  • Jan 20, 2012 9:53am Jan 20, 2012 9:53am
Quoting kravmaga39
Hi mate,
don't forget play with R:R otherwise your W/L ratio doesn't mean too much even if W/L is very high.
Yeah I have been playing with RR on Excel. This is something that will take some time. I am thinking of switching between 1:3 and 1:5 depending on the situation. The SLs and TPs need to be adjusted according to the levels, then the lot sizes need to be adjusted to the SLs and TPs.

I am going to be looking further into implementing compounding when I get around to it.
  • #1,157
  • Jan 20, 2012 9:56am Jan 20, 2012 9:56am
For the current topic...Have a super weekend all
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,158
  • Jan 20, 2012 11:27am Jan 20, 2012 11:27am
Quoting redsword11
the majors respect tech least of all and therefore you lose your money faster - and we are taught early in our education to focus on the majors ............. eh
Today was one example of EU being a lone shot while the others bounced supply/demand.

..
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  • #1,159
  • Jan 20, 2012 11:36am Jan 20, 2012 11:36am
Quoting Tyoon
Today was one example of EU being a lone shot while the others bounced supply/demand.

..
lol that made me laugh ... and ty why green on drops and red on ups? u make money as in "green" when bear markets happen and lose in bull markets?

hehehe jk jk jk man..

thats unique color matchups

and funny thing on eu eh?
Have I got something on my face, SOLDIER?
  • #1,160
  • Jan 20, 2012 11:44am Jan 20, 2012 11:44am
Quoting bumapatria
lol that made me laugh ... and ty why green on drops and red on ups? u make money as in "green" when bear markets happen and lose in bull markets?

hehehe jk jk jk man..

thats unique color matchups

and funny thing on eu eh?
Haha, yeah. I just flipped the charts the other way so they are all facing the same way up.

Red said a few times that the major pairs follow techs the least and here it shows that a load of other pairs followed tech while EU just correlated without hitting any of it's own zones/levels. Here is the question; what pair is best to follow and what pair is going to respect techs at any given time?
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