Time to call it quits | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

time is set to GMT+0 time zone, what is my time adjustment? 0 replies

Hedge Fund Quits Because of Political Economy - Does it Affect Trading 7 replies

market movement, margin call and time 6 replies

if UK PM Brown quits... 2 replies

Dear Full time/Part time Traders – Thanks for your time and help 7 replies

Attachments: Time to call it quits
Exit Attachments

Time to call it quits

  • #61
  • Jun 4, 2012 10:09am Jun 4, 2012 10:09am
Yes I started trading full time equity futures and then moved to bond futures at a prop shop. whats your point? Some people suit different markets.
  • #62
  • Jun 4, 2012 10:11am Jun 4, 2012 10:11am
Quoting wadewade
..... taking time off. I did this and came back stronger then ever.
I'll be doing that as of tomorrow, going on holiday for a week to crete, got 'trading in the zone' by mark douglas on my phone in PDF so gonna give that a read while I'm away.

I could do with a tan also, looking like a milk bottle being couped up inside behind a screen all day
  • #63
  • Jun 4, 2012 10:15am Jun 4, 2012 10:15am
To clarify i was trading equity futures at the same firm

Quoting wadewade
Yes I started trading full time equity futures and then moved to bond futures at a prop shop. whats your point? Some people suit different markets.
  • #64
  • Jun 4, 2012 10:16am Jun 4, 2012 10:16am
Quoting wadewade

i lost money everyday for 6 months

Yes I started trading full time equity futures and then moved to bond futures at a prop shop. whats your point? Some people suit different markets.
Same prop shop? They were patient!

Had one been personal equity then I would have thought the point is obvious.


Quoting wadewade

Some people suit different markets.
Sure, but the basics of trading are the same.

I noticed you haven't traded forex, is it something you're looking into?
  • #65
  • Jun 4, 2012 10:17am Jun 4, 2012 10:17am
Mate i take my yearly trip to Fiji to reflect on my trading and get a tan/burn. I wasn't much of a fan of 'trading in the zone' I prefer the old blank piece of paper full of new ideas/plans.

Quoting GDR3k
I'll be doing that as of tomorrow, going on holiday for a week to crete, got 'trading in the zone' by mark douglas on my phone in PDF so gonna give that a read while I'm away.

I could do with a tan also, looking like a milk bottle being couped up inside behind a screen all day
  • #66
  • Jun 4, 2012 10:18am Jun 4, 2012 10:18am
Quoting pipmutt
Sadly that is so true (of most but not all) but really, some of the most unsuitable people just drop into this business with little or no experience and even less common sense and somehow expect to produce instant money, did they really honestly believe that was ever going to happen?
Like all other business, the majority gotta be failure

But as any business, until you treat it as a real business, you have no chance of success.
  • #67
  • Jun 4, 2012 10:21am Jun 4, 2012 10:21am
No, I'm not looking into forex im quite happy in fixed income but like you said I find trading forums relevant even if its different markets.

As far as different markets go some behave completely different to others, execution in more/less liquid markets is obviously different. Personally i don't like fast moving markets like currencies.

Quoting pipmutt
Same prop shop? They were patient!


I noticed you haven't traded forex, is it something you're looking into?
  • #68
  • Jun 4, 2012 10:24am Jun 4, 2012 10:24am
Quoting wadewade
Mate i take my yearly trip to Fiji to reflect on my trading and get a tan/burn. I wasn't much of a fan of 'trading in the zone' I prefer the old blank piece of paper full of new ideas/plans.
Yeah I probably won't even get around to reading it, I've had a quick skim through though.
  • #69
  • Jun 4, 2012 10:28am Jun 4, 2012 10:28am
Yeah its a horrible read he really drags on and on about irrelevant stuff. A few good points in there though, like the observe youself chapter hit home for me.
Quoting GDR3k
Yeah I probably won't even get around to reading it, I've had a quick skim through though.
  • #70
  • Jun 4, 2012 10:33am Jun 4, 2012 10:33am
Quoting wadewade
Yeah its a horrible read he really drags on and on about irrelevant stuff. A few good points in there though, like the observe youself chapter hit home for me.
Other reviews have said its fairly repetative aswell, what other chapters are a good read?
  • #71
  • Jun 4, 2012 10:33am Jun 4, 2012 10:33am
Quoting wadewade

No, I'm not looking into forex im quite happy in fixed income but like you said I find trading forums relevant even if its different markets.

As far as different markets go some behave completely different to others, execution in more/less liquid markets is obviously different. Personally i don't like fast moving markets like currencies.
I cut my teeth in the wild west of retail forex, I suppose it's sometimes a case of better the devil you know...mind you it would probably broaden my outlook to trade other markets but forex has gotten like an old comfortable pair of slippers now.

As for T in the Z, repetitive or what, but still a great book with the potential to change one's perspective about trading. I got the audio version, the printed sent me to sleep! It's slightly dated now, I wonder if anyone has written a newer testament...
  • #72
  • Jun 4, 2012 10:38am Jun 4, 2012 10:38am
Quoting GDR3k

Other reviews have said its fairly repetative aswell, what other chapters are a good read?
The questionnaire can be quite revealing! You're supposed to take it before reading the book and again after reading it tho', lol
  • #73
  • Jun 4, 2012 10:47am Jun 4, 2012 10:47am
Agreed, I got through it years ago thinking only 10% of it was worth reading. I usually read trading books a few times to get the most out of them. Just picked this one off the shelf bookmark is on page 24 shows how much i care for reading it! ha!

Can't go past reminisence of a stock operator hardly relevant to todays markets but the basic phychological principles are. I found it a great motivating story to push your limits and try to make it big, but at the same time disturbing to discover he commited suicide from trading losses, hope i dont end up like that. Must have read it 5 times though.

[quote=pipmutt;5726495] the printed sent me to sleep! quote]
  • #74
  • Jun 4, 2012 10:55am Jun 4, 2012 10:55am
Quoting pipmutt
The questionnaire can be quite revealing! You're supposed to take it before reading the book and again after reading it tho', lol
26. I often spend sleepless nights worrying about the market.

I did that once when I first started out and blown the account because I had no idea how to trade, although at the time I thought I did, I think I lost like 15 trades back to back lol
  • #75
  • Jun 4, 2012 11:00am Jun 4, 2012 11:00am
Quoting wadewade

Can't go past reminisence of a stock operator hardly relevant to todays markets but the basic phychological principles are. I found it a great motivating story to push your limits and try to make it big, but at the same time disturbing to discover he commited suicide from trading losses, hope i dont end up like that. Must have read it 5 times though.
Sounds like it's worth a read then, I've seen a few people mention it now.
  • #76
  • Jun 4, 2012 11:01am Jun 4, 2012 11:01am
25. If you were granted a wish to be able to instantaneously acquire one trading skill, what skill would you choose?

I think i would take supermans spinning the earth to turn back time, that would be handy.
  • #77
  • Jun 4, 2012 11:03am Jun 4, 2012 11:03am
Quoting GDR3k

26. I often spend sleepless nights worrying about the market.

I did that once when I first started out and blown the account because I had no idea how to trade, although at the time I thought I did, I think I lost like 15 trades back to back lol
lol, I can nearly guarantee we've all been there, it seems like a mandatory pain we have to pay! For me way too many times the light at the end of the tunnel turned out to be a freight train coming the other way, it's wasn't pretty!
  • #78
  • Jun 4, 2012 11:20am Jun 4, 2012 11:20am
Quoting pipmutt
lol, I can nearly guarantee we've all been there, it seems like a mandatory pain we have to pay! For me way too many times the light at the end of the tunnel turned out to be a freight train coming the other way, it's wasn't pretty!
Agree, its all part of the learning process to trading FX in ones opinion, I can see many people giving up after they blow their first account, I neirly did and thought I never want to 'waste' my money so easily again, it felt like I just thrown it out the window, set it on fire or simply gave it away, it was so frustrating aswell as every trade I entered, it then changed direction right away and smashed my stop loss lol I was going long at resistance and selling at support, what an idiot lol

Now, all it seems to do is hit my take profit level. Oh how the tide has turned.
  • #79
  • Jun 4, 2012 11:31am Jun 4, 2012 11:31am
Quoting GDR3k
every trade I entered, it then changed direction right away and smashed my stop loss lol I was going long at resistance and selling at support, what an idiot lol
I was selling at resistance and buying at support, however, my problem was, when I entered the trade, price goes right to hit my stoploss and then turn back to hit the TP lol

Then I decided to remove my SL, you know the rest
  • #80
  • Jun 4, 2012 11:48am Jun 4, 2012 11:48am
Quoting duyk20
I was selling at resistance and buying at support, however, my problem was, when I entered the trade, price goes right to hit my stoploss and then turn back to hit the TP lol

Then I decided to remove my SL, you know the rest
I often wait for the market to have another go at a level or make a higher high/lower low before getting in if theres S/R clustered together like in the below shot, the highlighted area in green is what I mean the price hit a daily resistance level, went down a bit, went back up to the whole number before moving down to the quarter number area (the pink).
Attached Image (click to enlarge)
Click to Enlarge Name: 99999.jpg Size: 104 KB
0 traders viewing now