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  • #651,761
  • Jun 5, 2012 5:29am Jun 5, 2012 5:29am
Quoting mohan76
check my signature to view safety mechanism i have in place .
Oh goood. Thanks
I really like "in my case my wife only know my password"
There's something in it...
Anyway I can't find any other job so emotional as trader, maybe FBI agent
Read Charts - Not Papers
  • #651,762
  • Jun 5, 2012 5:29am Jun 5, 2012 5:29am
Quoting halkins
I think 20-40% per month is quite reasonable outcome.
You won't believe, but my "missing key to success" was regural monthly withdrawal... !!! Pretty stupid, isn't it?

I was always thinking: 2x2x2x2x2x2x2x2 = 256 but NOT IN FOREX.
Man, I'll be damn reach in 12 month, whooohaaaa!!!!, hehehe
But when I doubled or tripled my account I was busted with emotions playing too big, with money I didn't feel comfortable with.
I was just not playing in my league and I was doing one mistake after another, blowing my account in the...
Restarting from the same point periodically has worked very well for me: I trade my account up from 10k to >100K, at which point I start over with 10K. I do this on average every 10 trading days.

Of course I SHOULD ADD that:
a. the account I do this with is a practice account,
b. I'm using 200:1 max leverage,
c. on average, I blow it up every 4th time...

Well, it's good practice - helps me with my real money accounts. And yes, it's nice to keep coming back to the same starting point. It's very comfortable.
  • #651,763
  • Jun 5, 2012 5:29am Jun 5, 2012 5:29am
Quoting KiwiTrada
yes bro same, cloggie was one who opened my eyes on hedging, you is trading against you self
not say it dosnt work, believe it is a whole concept of trading in its self, just see many using it to get themselves out of bad trades, and end up in bigger mess.
2nd golden rule of trading, cut loose loser trade, let winner run, sounds simple but we all hate lose money and lives in hope her will come back, trollop more often just keep going away, arrrrgh been there done that
yeah true, but how far do you let run? always a hard decision. i take half profit at a nice level, and then let the rest run, so at least if they stop me out on a retest, i made money

then i can always get back in if we double top and break down again, but i at least secure a decent amount of profit in which to risk on getting back in after a stop out.

thank you for the vouch by the way
An opportunity lost is not a capital cost.
  • #651,764
  • Jun 5, 2012 5:30am Jun 5, 2012 5:30am
Quoting KiwiTrada
2nd golden rule of trading, cut loose loser trade, let winner run, sounds simple but we all hate lose money and lives in hope her will come back, trollop more often just keep going away, arrrrgh been there done that
i am still week in this area, this month i have placed some self lockout safety mechanism , now maximum daily damage limited 3% , i can't overwrite
Mohan
  • #651,765
  • Jun 5, 2012 5:31am Jun 5, 2012 5:31am
Quoting halkins
Oh goood. Thanks
I really like "in my case my wife only know my password"
There's something in it...
Anyway I can't find any other job so emotional as trader, maybe FBI agent
i don't know my password i have asked her to change and not give to me
Mohan
  • #651,766
  • Jun 5, 2012 5:32am Jun 5, 2012 5:32am
Quoting BFSGcapital
i think he means if it breaks 1.2410 he expects more down, that would be in line with a break of the trendline we are bouncing off of now
What trendline is that? I have the support slap bang on 50% fib retracement and H1 100SMA.
  • #651,767
  • Jun 5, 2012 5:32am Jun 5, 2012 5:32am
Quoting Patience
No doubt it is possible. But I've been banging around for quite a while now and, from what I've seen, more often than not this kind of aggressive trading usually ends in tears. It's good to play it cool after a successful run.
ive been banging around for a while to.. its the only thing i can get to work for me. wait till i know whats happening and capitalise. i normally risk about 3% of my account but when its running my way i add to it each time my ts kicks in so i can capitalise on moves and have 70 percent of my account on and only risking 3 pips and im already in profit
  • #651,768
  • Jun 5, 2012 5:33am Jun 5, 2012 5:33am
Quoting mohan76
i am still week in this area, this month i have placed some self lockout safety mechanism , now maximum daily damage limited 3% , i can't overwrite
very smart. after losing 3% in one day you cannot place anymore trades for the day? that would definitely help with the gambling mentality, we all get it sometimes im sure
An opportunity lost is not a capital cost.
  • #651,769
  • Jun 5, 2012 5:33am Jun 5, 2012 5:33am
Quoting Patience
It's good you recognised this. I also prefer nice, calm trading these days (within my limits) so that it doesn't affect my daily life whatsoever and so that I don't start to see things on the charts that aren't there.
Yes, yes, first when I started trading I had a "million dollar yacht and three nice chicks there with me" pictured in my head, ha ha ha.
Now I have a steady monthly reasonable income as a target, and it works...

Attached Image
Read Charts - Not Papers
  • #651,770
  • Jun 5, 2012 5:33am Jun 5, 2012 5:33am
Quoting halkins
Hi Kiwi
yes, I know, 10 times you win, but 11th blows your account
Remember, last month I left "open" position for "only" 2 hours.
Hehhh... It took me 3 weeks to bring it back to breakeven.
The most important is to have a plan, stick to it and cut off quickly if you are wrong.
yup cut loser agreed, personally if have proper plan, should never have to cut loser, trade plan will do it automatically.

please bro use sl, we in some major spike territory, virtually all pairs, maybe not aussie, she most steady of pairs, but could even be her at risk, everyone is focused, greece spain italy blah blah, but is time to exra focus, on yen china and chy, they been under radar, but stressess are starting to show them too,
I agree moyhan, all this talk millions compounding blah blah, is focus on greed and account accumulation, is take focus away from account protection, this is easily the biggest factor in account growth
I also agree regular withdrawals, only leave enough in account to perform trade plan, very very important
If you are new to Forex? Say Goodbye to your account!!
  • #651,771
  • Jun 5, 2012 5:35am Jun 5, 2012 5:35am
Quoting KiwiTrada
yes bro same, cloggie was one who opened my eyes on hedging, you is trading against you self
not say it dosnt work, believe it is a whole concept of trading in its self, just see many using it to get themselves out of bad trades, and end up in bigger mess.
2nd golden rule of trading, cut loose loser trade, let winner run, sounds simple but we all hate lose money and lives in hope her will come back, trollop more often just keep going away, arrrrgh been there done that
well said and very difficult. It comes back once and never again. You keep hoping and the losses mounting. Meanwhile you miss a number of other opportunities. More over the emotional pain can be unbearable. So cut it as soon as even before SL hits if required.

Also hedging is complete mess - specially unplanned hedging can be complete disaster. You dont know when to exit which trade.
  • #651,772
  • Jun 5, 2012 5:36am Jun 5, 2012 5:36am
I have over short, I hope that the market will continue the last week trend as Fibo
Think Different
  • #651,773
  • Jun 5, 2012 5:37am Jun 5, 2012 5:37am
Quoting Tobinguyen
I have over short, I hope that the market will continue the last week trend as Fibo
  • #651,774
  • Jun 5, 2012 5:38am Jun 5, 2012 5:38am
Quoting cat
What trendline is that? I have the support slap bang on 50% fib retracement and H1 100SMA.
yeah , so many things to add on charts. i need to add long term moving averages to my charts

but this was the old channel we were in, and we broke above it to 1.282. but its still an important line, if you look back in history.

to get this line just connect 1.328 to 1.318, the primary channel is 1.328 to 1.282 connect, and since we just broke above it but it was a fake out, i will move the primary channel out to 1.328 to 1.254, since it's the new peak
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An opportunity lost is not a capital cost.
  • #651,775
  • Jun 5, 2012 5:40am Jun 5, 2012 5:40am
Quoting KiwiTrada
yup cut loser agreed, personally if have proper plan, should never have to cut loser, trade plan will do it automatically.

please bro use sl, we in some major spike territory, virtually all pairs, maybe not aussie, she most steady of pairs, but could even be her at risk, everyone is focused, greece spain italy blah blah, but is time to exra focus, on yen china and chy, they been under radar, but stressess are starting to show them too,
I agree moyhan, all this talk millions compounding blah blah, is focus on greed and account accumulation, is...
I used to think 50% is 50% , that's it. But truth is different...
I can easyly make 100% in a month from a 100-200$ account.
But, if anybody think that he can do the same with $50.000-100.000 he doesn't know a thing about human phsychology...
-
Read Charts - Not Papers
  • #651,776
  • Jun 5, 2012 5:40am Jun 5, 2012 5:40am
Quoting Z Capitals
I see you have a oppsite point now.
Think Different
  • #651,777
  • Jun 5, 2012 5:43am Jun 5, 2012 5:43am
Quoting BFSGcapital
very smart. after losing 3% in one day you cannot place anymore trades for the day? that would definitely help with the gambling mentality, we all get it sometimes im sure
if i open , ea will close it immediately, so no point of opening it
Mohan
  • #651,778
  • Jun 5, 2012 5:44am Jun 5, 2012 5:44am
Quoting mohan76
i am still week in this area, this month i have placed some self lockout safety mechanism , now maximum daily damage limited 3% , i can't overwrite
how is your macro geppy doing bro, her on her way to getting my 160 back off you
swissy hs breached back into 4hr ascending chanel, her presently trying to stay inside, bears are tapping on bulls head, is interesting battle, my earlier short has clipped trailing, and I am long from todays open, so is bitter sweet for me, I can see my bears, fighting, but I need them piss off, hahahaha, then other ladies will fall,
If you are new to Forex? Say Goodbye to your account!!
  • #651,779
  • Jun 5, 2012 5:44am Jun 5, 2012 5:44am
Quoting tightscalper
ive been banging around for a while to.. its the only thing i can get to work for me. wait till i know whats happening and capitalise. i normally risk about 3% of my account but when its running my way i add to it each time my ts kicks in so i can capitalise on moves and have 70 percent of my account on and only risking 3 pips and im already in profit
Wow. Well all I can say is that you have big cojones. Sometimes the market can do strange things and your stop can get skipped. I know when the Yen meltdown happened last year some traders' stops were skipped by up to a couple of hundred pips on some crosses. All the best to you.
Nothing worth having is easy.
  • #651,780
  • Jun 5, 2012 5:44am Jun 5, 2012 5:44am
FF, I have couple of questions:

1. What exactly would be the point in posting on this forum if the post doesn't appear when it's relevant?

2. Do you really expect someone to post something unacceptable while being "moderated"?

Who created this policy? Let me take a stab... someone who always resented authority (especially STUPID AUTHORITY) until they got some of their own!

What you are doing is stupid. You just need to think about it a little.
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