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NOT The Conventional Type! Journal Of My Stubborn Trading Life...

  • #21
  • Apr 23, 2012 1:33am Apr 23, 2012 1:33am
Quoting kokopelli
In the end (again only from personal experience), I came to a realization that my trading entries are not as important as personal psychology and money/trade management.
[color="Red"]1) Psychology - the hardest parts for me were to deal with the personal demons and to suppress my personal pride/ego so that I can keep on keeping on and stick to the plan even during losing stretches.
I agree, sticking to the plan is a little challenging.
Quoting kokopelli
This is why I decided to link my demo accounts to my profile and journal. So far, it's been an uncomfortable and humbling experience because there are no where for me to hide. I feel completely naked and helpless because my trading prowess or lack-there-of are completely exposed for everyone to see and to pass judgement on. All my trading sins and personal short comings are reflected in my trades. Fears, greed, cockiness, lack of discipline, impatience, holding on to a losing position for too long, exit a wining trade too quickly, average down,...
Putting yourself on the line is one of the ways you can improve yourself. I'm sure.
Quoting kokopelli
2) Money/trade management - exit a losing trade quickly and take profit slowly do work!!!
These 2 concepts are not hard to understand, just very difficult to put into practice (for me anyway).
I agree too. Take what is given, don't wait till it's taken back.
Quoting kokopelli

Good luck to you and all of us on this journey!!!
Ditto.

EDIT: As for sharing my market analysis and predictions (from your post #7) - I'm an intra-day trader using M30 charts, so my market sentiment changes like the wind, from one moment to the next. What I feel strongly now, I might not do so in a few minutes later. But if you want to know, then just go to my demo trading accounts which are linked to my profile and my trading journal. From what I've seen, this site seems to update the links almost simultaneously. So if you want to gauge my opinions on a particular market at a specific moment in time or live, then you can just go to the link and check out my longs and shorts. The link will also calculate my win/loss ratio and many other stats - hence giving you your "TRUST" rating - for what it's worth.[/quote]

I understand your point. We are not on the same playing field. Thank you for all your inputs.
bit . ly/fantestimonials
  • #22
  • Apr 23, 2012 1:39am Apr 23, 2012 1:39am
Quoting 1stECN
Hello ForMeFactory.

If you maintain this momentum in trading, I admit you will go very far even beyond your imagination. Keep it up mate.
Thanks man, check your PM.

Quoting qqsamudra
Agree..we have other side ( real life )...Discover our personality and look for a trading system that fits with us, scalper, intraday or swing a match with us, and it does not mean we have to stay whole days in front of the PC.
when we got enough that's enough and stop

Best Regards

qs
Yeah, unless you love what you are doing whole heartedly, no one is stopping you from destroying your eye sights... LOL

Quoting phfx
hi Fan,
I think it sounds like a great idea to have a lots of people working together trying to solve the market, but along with that it also creates another sets of problems. People may have different opinion and argument about a thing, and in this particular situation there is actually no one really know what the 'right' answer is.
This is what I intend to solve, I DO NOT CARE about how you conclude where the market is going. I just want you T/P & S/L. We'll talk about your good/bad judgement after the market confirms it.
Quoting phfx
And also if someone have a good judgement based on the experience on the market, there is no guarantee that person want to share the opinion on public/forum.
I've mentioned this before, I only work with people who wants to work with me.
Quoting phfx
It is more likely however for somebody to share their trading system and the analysis but eventually the decision is still up to each trader. Sharing their trading journal maybe is the closest thing to this idea.

However I don't really know what will be going to happen next, maybe there are some people who would like to join in.

cheers
Thanks for the positive note. The answer will be out soon.
bit . ly/fantestimonials
  • #23
  • Apr 23, 2012 1:49am Apr 23, 2012 1:49am
Quoting jmtini
Hi ForMeFactory,

Just wanted to say that I've replied to your PM.
Thanks, I should have replied.
Quoting jmtini
I can really understand your frustration with forex trading.
Not frustrated, just looking to improve my situation.
Quoting jmtini

Let me tell you straight away what your problem is and mine and 95% of all the small RT's out there. We talk about trading a plan and planning a trade, we talk about money management, cutting a losing trade short and letting a winning trade run, blah blah, blah. But most of the time we DON'T put the good things into practice. The most important things that should be added to the learning curve are: "brain management" and "emotional response management".
I guess you are right to a certain extent.
Quoting jmtini
Heres's a couple of other pointers:

1/ Forget about demo trading in order to learn live trading. Doesn't work. The only way to learn live trading is to live trade! Best thing to do is trade micro lots. With many brokers you can trade 10 cents a pip so if you lose 40 pips (as an example) you've only lost 4 dollars! But the BIG thing is you are trading the real thing.
Yup, I have 1 cent a pip.
Quoting jmtini
2/ "Naked trading" - just trading the chart (whether it's 15min, 30 min, 1 hr) as one sees it or even as it's portrayed by some 50/50 trading system is well named - you'll end up stripped naked with not a bean left in the bank! One simply HAS to have a workable trading strategy and most importantly one that is giving ONLY at the most 2 or 3 signals or set-ups a week. I have come up with such a system. It's quite powerful and I'm going to post it by tomorrow on my own thread.
Interesting, you have my permission to publish a direct link to that exact post from this thread.
Quoting jmtini
3/ Someone that replied to your thread the other day said: I found out that I'm not a scalper, but rather a counter-trend trader. I expect things to come back to equilibrium. For example, if a market is over-extended in one direction, then I would anticipate its return to the mean. Hence, I like to pick tops and bottoms. Believe it not, that guy is actually on the right track. And finding a system or method that can pick a new trend or counter-trend and can indicate the RIGHT MOMENT to enter a trade (we don't want any big draw-downs!) is...
I'm laughing in agreement. Got some good points in there. I'm looking at another direction as well. It's not just entering the trade correctly, I looking at the exact opposite, what if you enter the trade at a PERFECT time, but the market just want to piss you off, so I'm preparing for that too.
Quoting jmtini
4/ Ever been to Mexico or Brazil and tried to get by? You wish you could speak the language and boy is it much easier to survive if you can! Well forex trading is really exactly the same. Small traders expect to make money but they don't understand nor can they "read" a forex chart. The trap they fall into every time is that they think they can see what's going on - "it's an uptrend"! (so they buy) and guess what? The price drops by 100 pips almost immediately. WHY? Of course it's because they enter their trade [i]in the wrong direction...
Quoting jmtini

5/ It IS a "learning curve" and there is no getting away from it, especially if you want to make a success of this game. But it IS possible! Learn from people like me who have themselves learned the hard way and "been there, done that" already.

Rgds

Jerry
Thanks man for your points. I appreciate your post here.
bit . ly/fantestimonials
  • #24
  • Apr 23, 2012 6:38pm Apr 23, 2012 6:38pm
alright guys, all the juicy stuffs are coming soon:

1) rights & wrongs of my latest analysis of where the market is going in the next 24hrs or so...

2) profit & loss of my trading days, I'm a perfectionist so I keep records of every cent made/loss...

3) who is with me in this group to collaborate, details like how many people ignored/rejects/accepts me & my idea...

-end-

#1: can you imagine that when I started this thread, I have no idea on how to do that but I guess throwing this thread out there helped. u may call it karma.

#2: definitely more loss than profit, but lookout at the increase in profit in recent days...
bit . ly/fantestimonials
  • #25
  • Apr 25, 2012 1:09am Apr 25, 2012 1:09am
I've been busy and procrastinating... watching spongebob & a lousy movie (10 things I hate about you...) so I didn't update last night...

But here is the figures which does not have any commercial value as it is the past.

AUDUSD: (AU)
17hours ago I say it will go up, and it did (+1pt) from 10298 to 10307(10hrs ago). And right now its 10314. So if I entered the market, I would have made 16pips. Current prediction has been made but I will tell you about it when market affirms it.

EURUSD: (EU)
When it was 13191, I say it will go down, and I was right (+2pts), it when down 60pips to 13135 13hrs later.
6~hours ago it was 13135 and I say it is going up, and it did (+3pts), it went up 12 pips to 13147. And then I said it's going down, and I was wrong (-1pt).
Its 13195, so I should have lost 48pips. Current prediction has been made but I will tell you about it when market affirms it.

USDCHF: (UCF)
It was 9107. I say it is going down. And I was wrong. (-2pts) and I should have lost 29 pips. Then at 9136, I said it's going down. And it did (+4pts) now its 9106, I should have made 30pips. Current prediction has been made but I will tell you about it when market affirms it.

USDJPY: (UJ)
At 8132, I said it will go up, and I was wrong (-3pts). I should have lost 20 pips. Then at 8112 I said it would go up and it did (+5), now its 8135. I should have made 23 pips. Current prediction has been made but I will tell you about it when market affirms it.

Summary:
+5pts (+141pips)
-3pts (-97pips)
bit . ly/fantestimonials
  • #26
  • Apr 25, 2012 4:15am Apr 25, 2012 4:15am
Quoting ForMeFact0ry
I've been busy and procrastinating... watching spongebob & a lousy movie (10 things I hate about you...) so I didn't update last night...

But here is the figures which does not have any commercial value as it is the past.

AUDUSD: (AU)
17hours ago I say it will go up, and it did (+1pt) from 10298 to 10307(10hrs ago). And right now its 10314. So if I entered the market, I would have made 16pips. Current prediction has been made but I will tell you about it when market affirms it.
this will tank watch!
Quoting ForMeFact0ry
EURUSD: (EU)
When it was 13191, I say it will go down, and I was right (+2pts), it when down 60pips to 13135 13hrs later.
6~hours ago it was 13135 and I say it is going up, and it did (+3pts), it went up 12 pips to 13147. And then I said it's going down, and I was wrong (-1pt).
Its 13195, so I should have lost 48pips. Current prediction has been made but I will tell you about it when market affirms it.

right this will tank too
Quoting ForMeFact0ry
USDCHF: (UCF)
It was 9107. I say it is going down. And I was wrong. (-2pts) and I should have lost 29 pips. Then at 9136, I said it's going down. And it did (+4pts) now its 9106, I should have made 30pips. Current prediction has been made but I will tell you about it when market affirms it.

this too will tank
Quoting ForMeFact0ry
USDJPY: (UJ)
At 8132, I said it will go up, and I was wrong (-3pts). I should have lost 20 pips. Then at 8112 I said it would go up and it did (+5), now its 8135. I should have made 23 pips. Current prediction has been made but I will tell you about it when market affirms it.
this too will tank
Quoting ForMeFact0ry
Summary:
+5pts (+141pips)
-3pts (-97pips)
  • #27
  • Apr 25, 2012 5:09am Apr 25, 2012 5:09am
Quoting rmrf
this will tank watch!



right this will tank too



this too will tank


this too will tank
what does tank means? I'm not from where ur from...
bit . ly/fantestimonials
  • #28
  • Apr 25, 2012 5:12am Apr 25, 2012 5:12am
AUd./USD is going to tank hard today later after much news and probably end the week way down, several hundred pips I expect.

Quoting ForMeFact0ry
what does tank means? I'm not from where ur from...
  • #29
  • Apr 25, 2012 5:21am Apr 25, 2012 5:21am
Quoting rmrf
AUd./USD is going to tank hard today later after much news and probably end the week way down, several hundred pips I expect.
u didn't answer the question directly... but I get the idea, I use the word "jump".

so does tank only means downwards or it could go either way up or down?

in any case, yes! there's a couple of news abt usd coming up in 2hrs... I hope u get a gd high position (order) then.
bit . ly/fantestimonials
  • #30
  • Apr 25, 2012 6:44am Apr 25, 2012 6:44am
and usually down hard
  • #31
  • May 16, 2012 12:28pm May 16, 2012 12:28pm
Yup, it's almost one month since I've not updated this (I ain't dead yet) ... why?

1. I've been busy, thank God. Worried/Sad/Down
2. Another encounter with Margin Call (MC) Don't you love that?
3. (Enter whatever you like here)

I am a naughty boy, please see attachment. (Wink)
http://i50.tinypic.com/20f951.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: what.jpg Size: 38 KB
bit . ly/fantestimonials
  • #32
  • Edited 11:33pm May 16, 2012 11:22pm | Edited 11:33pm
OK guys, I know I ask this question before - http://www.forexfactory.com/showthread.php?t=349141

Add Multiple Horizontal Lines Fixed To Each Other But Movable As A Set?

But now I need to draw a graph, and I need to move it around anyone has any ideas? The closest I could come up with is a "Triangle" under the "Insert>Shapes" tab.

Help... Here the thread if you wish to answer there : http://www.forexfactory.com/showthread.php?t=362614
bit . ly/fantestimonials
  • #33
  • Jul 5, 2012 10:33am Jul 5, 2012 10:33am
Hey all.

1) Thank God.

Alright, I was in a skype room, then forward to another skype room which was AWESOME, not I got a bearing on the markets. Thanks to Paul with his methodology on ichimoku.

So, I'm happier now.

Video to share: http://bit.ly/angrytrader (This was me, next post will include details...)
bit . ly/fantestimonials
  • #34
  • Jul 5, 2012 10:51am Jul 5, 2012 10:51am
if on my MT4 on my PC, when price is moving so fast, i can't open a position as the price keep changing and the prompt will come up asking me if i agree to the new price, and this will repeat again, there has also been MANY frustrating times that my MT4 jam and it gives this irritating error "Trade Context Busy" that is when I get so furious I swear in my heart, and keep clicking in futile. I then shut down and lie down being pissed off. :| But on the other hand (OTOH) buy stops and sell stops are perfect.

solution : ECN account mt5, instant execution
bit . ly/fantestimonials
  • #35
  • Jul 10, 2012 3:59am Jul 10, 2012 3:59am
On the road, "Speed kills!"
On the trade, "Greed Kills!"

lol

Where there is no risk in trading, there is no reward too.
-Raj
bit . ly/fantestimonials
  • #36
  • Edited 4:53am Jul 10, 2012 4:43am | Edited 4:53am
See gann is a precious way of trading, learning tat is not easy.. if i need to teach u the course then i need ur commitment..
commitment comes as my guru said only when money is involved..
will u be ready to pay me if i teach u gann
think about it i will demand upto 300$ per month of training .. again think about it and let me know

-from a person who said "u know i paid 2500$ for only 10 lessons of gann"

Full conversation:

[5:32:21 PM] See gann is a precious way of trading, learning tat is not easy.. if i need to teach u the course then i need ur commitment..
[5:32:35 PM] commitment comes as my guru said only when money is involved..
[5:32:44 PM] wll u be ready to pay me if i teach u gann
[5:35:28 PM] think about it i will demand upto 300$ per month of training .. again think about it and let me know
[5:40:54 PM] Me: haha, oh i see.. i'm already profitting using ichimoku, and if you need me to pay you then i'll pass. thank you.
[5:41:38 PM] dont mistake me for asking u to pay me.. gann is so diffucult that it requires so much of commitment
[5:41:56 PM] that is why gann traders give gann only to people who are thirsty for gann
[5:42:01 PM] not for all
[5:42:19 PM] u know i paid 2500$ for only 10 lessons of gann
[5:44:46 PM] Me: that's quite steep, i mean expensive, so using gann, have you recuperate the $2500?
[5:45:53 PM] i have got back more than tat... my account size id 25 k and my monthly earning is 3 k min
[5:48:24 PM] Me: good, in that case you don't need my 300/mth
[5:49:00 PM] i dont need the money..i just need commitment
[5:49:56 PM] Me: ok, i can give the commitment without the money, is that ok?

LOL, and the person went offline...
bit . ly/fantestimonials
  • #37
  • Jul 11, 2012 12:55am Jul 11, 2012 12:55am
1. If you are proud, you've not been burnt. so go burn yourself first then talk to me. Being confident from you're experiences is better.

2. Trading is also about timing, as such, patience is required. Markets moving sideways would be a test on your patience, sticking to your plan is key. We do not want itchy fingers, once you've sratched them enough, come talk to me.

3. Markets will always, undeniably piss you off, every time you 'buy' expect market to move south, and when you 'sell', expect a move north, once you are happy with these situations, you are ready.

4. (that's all for now)
bit . ly/fantestimonials
  • #38
  • Jul 11, 2012 6:00am Jul 11, 2012 6:00am
Questions for CH ([email protected])

1. What is the methodology used, e.g. what indicators do you use?
Indicators we use are natural S / R alongside 20 / 40 sma and fib retracements sometimes patterns but that is just extra confirmation. Sometimes we just scalp for 10 - 30 pips and other times its intra for 20 - 50 pips and at times swing trades for 80 - 200 pips.

2. How long do you need to analyze chart before deciding to enter a trade?
It depends on the setup.

3. Your mehodology and complete setup seems to be an extension of Peter Bain's. Can you explain please?
No nothing to do with peter bains, its all about catching the proper price of a pair when it is cheap or when it is expensive and then working on analysis to see whether it is a swing, intra day or just a scalp trade.

4. I was told you have someone who watches the news. 4.1. After the news hits, the signal is given 1-minute after, is that true? 4.2. And isn't that a little late? Please refer to the 1-min candle for the EUR/USD at the opening of the NFP announcement. 4.3.Is your news feed the same if I already subscribed to Tradethenews? (soon)

5. In your F&Q's, you talk about helping new subscribers get a few hundred pips per week to cover their costs, and in another Q you mentioned about 35-50 pips per day. Is that not coming a little short? (soon)

6. Your performance report says 209.48% this year. If you start with $10,000, that means you will have $12,439,816 in 5 years. Isn't that a lot easier than running a paid chat room? (soon)
bit . ly/fantestimonials
  • #39
  • Jul 12, 2012 8:25am Jul 12, 2012 8:25am
Q : 4. I was told you have someone who watches the news. 4.1. After the news hits, the signal is given 1-minute after, is that true? 4.2. And isn't that a little late? Please refer to the 1-min candle for the EUR/USD at the opening of the NFP announcement. 4.3. Is your news feed the same if I already subscribed to Tradethenews?
A: yes we play the news constantly through new york session and myself and m listen to the news channels all day long and update the room of anything important. We use tradethenews and zerohedge live news feeds. Its not late as a lot of the time the initial move on the news is false to trigger the stops and then the real move comes into affect.

Q: 5. In your F&Q's, you talk about helping new subscribers get a few hundred pips per week to cover their costs, and in another Q you mentioned about 35-50 pips per day. Is that not coming a little short?
A : We say that on bad days yes sometimes 35 - 60 pips is what we get (some mondays while market searches for direction or holidays in certain countries where the liquidity is thin) but the last couple of months some days we have had 500 pips PLUS in one day over 2 sessions and myself and m on 2 days have achieved 1000 pips in a day on trades. You can only trade the candles you see but we havent slipped much below 200 - 300 pips a day recently.

Q : 6. Your performance report says 209.48% this year. If you start with $10,000, that means you will have $12,439,816 in 5 years. Isn't that a lot easier than running a paid chat room?
A : Of course running the room is tough and it probably restricts our trading a lot BUT we are not doing the trade room for the money, we really do want to give something back to people and help them to learn this forex market. I made 136k pound last month in june alone and m did over 146k dollars we do not need the money from the trade room, and we cannot be any fairer on price than we are $97 for 8 hrs a day 5 days a week. it is our dream to have a room full of traders trained to our standard so everyone can pick trades out and we can just take them and make a lot more pips. trading can get lonely so its a place to bring everyone together and once you get good at this you wont think anything of paying $97 a month to hang out and make a fortune each day
bit . ly/fantestimonials
  • #40
  • Jul 17, 2012 12:42pm Jul 17, 2012 12:42pm
I've seen through my experience, even with the experienced full-time traders (2 of them), they would like to get rid of trades that has been negative for a long time out of their MT4 platform.

It would be quite a challenge to have continuous patience with a long-term losing trade.

So this is the contest I have in mind...

1) Everyone start with -$500 in their account and see how well we can minimize losses or even make a profit.
2) To add salt to the wound, you may only trade the loss currency pairs, so that would mean hedging will be a possibility
3) If you really feel suicidal, then let's make the contest during the no major movement period, which means it will not be held during the London/Asian/New York sessions.

Now that's a challenge, and if you pass, you yourself will know you are ready to trade.
bit . ly/fantestimonials
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