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  • #1,641
  • Jul 28, 2012 9:20am Jul 28, 2012 9:20am
Quoting DaddyBear
Welcome sidhujag! I know you have been singing high pitch sound at the old house for a while. Is "ur hopeless" the label of your new CD?
u trying to be smart with me? i only
read about 5 msgs on here regardless of what u think
  • #1,642
  • Jul 28, 2012 9:20am Jul 28, 2012 9:20am
Quoting sidhujag
ur hopeless
Are you talking to yourself?
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daddybearforex. com
  • #1,643
  • Jul 28, 2012 9:21am Jul 28, 2012 9:21am
Quoting petehnm
good morning papa...how ya doing....had a rough week made a lot of bad choices....can't seem to get rid of the gamblers mentality...still holding losing trades in hopes that they come back around not using stops because I know what's going to happen so I don't need them..not reversing a trade because I know it can't possibly go any higher...how can someone know what he's doing wrong and still keep doing them...I just don't get it...it's very frustrating....sorry had to vent....
You should pick up the book called Fx Mindset by Jared Martinez...helped clear up my headspace pretty good!

http://www.amazon.com/The-Forex-Mindset-Attitude-Profitable/dp/0071767347/ref=sr_1_1?ie=UTF8&qid=1343485283&sr=8-1&keywords=forex+mindset
Good luck and may the odds be ever in your favor!
  • #1,644
  • Jul 28, 2012 9:21am Jul 28, 2012 9:21am
Quoting DaddyBear
Are you talking to yourself?
hhahahha thas right keep talkin to ur self bro
  • #1,645
  • Jul 28, 2012 9:24am Jul 28, 2012 9:24am
Quoting petehnm
good morning papa...how ya doing....had a rough week made a lot of bad choices....can't seem to get rid of the gamblers mentality...still holding losing trades in hopes that they come back around not using stops because I know what's going to happen so I don't need them..not reversing a trade because I know it can't possibly go any higher...how can someone know what he's doing wrong and still keep doing them...I just don't get it...it's very frustrating....sorry had to vent....
Pete, welcome back! I have the same situation like yours. You are not alone. We all make mistakes and learn from what we have done. But, it's going to turn around. Just be patient ....... -DB-
daddybearforex. com
  • #1,646
  • Jul 28, 2012 9:28am Jul 28, 2012 9:28am
Quoting dbutton1990
You should pick up the book called Fx Mindset by Jared Martinez...helped clear up my headspace pretty good!

http://www.amazon.com/The-Forex-Mindset-Attitude-Profitable/dp/0071767347/ref=sr_1_1?ie=UTF8&qid=1343485283&sr=8-1&keywords=forex+mindset

thanks bro ..I appreciate the suggestion....will download it to my kindle today..at this point I ready for a change in mentality...
  • #1,647
  • Jul 28, 2012 9:32am Jul 28, 2012 9:32am
Quoting DaddyBear
Pete, welcome back! I have the same situation like yours. You are not alone. We all make mistakes and learn from what we have done. But, it's going to turn around. Just be patient ....... -DB-

thanks papa...it's feels reassuring that I'm not alone...not that I would wish my situation on anyone...I've really learned a lot from watching and participating with you guys here I just need to turn some thought processes around...and yes papa I will make a strong effort to be patient...cause patients is with out a doubt a nemesis of mine and my mind....
  • #1,648
  • Jul 28, 2012 9:36am Jul 28, 2012 9:36am
For all of you that are looking from the outside...this is why I believe this thread is one of the best I've seen in many moons...Instead of the members telling me how much of a bonehead I am for the mistakes I've done and the mentality that I'm dealing with... immediately I get encouragement and helpful suggestions...climb aboard guy and gals it's what forums should be all about....
  • #1,649
  • Jul 28, 2012 9:38am Jul 28, 2012 9:38am
Quoting petehnm
For all of you that are looking from the outside...this is why I believe this thread is one of the best I've seen in many moons...Instead of the members telling me how much of a bonehead I am for the mistakes I've done and the mentality that I'm dealing with... immediately I get encouragement and helpful suggestions...climb aboard guy and gals it's what forums should be all about....
Amen to that! and a good afternoon to you and DB and everyone else.
  • #1,650
  • Jul 28, 2012 9:40am Jul 28, 2012 9:40am
Quoting petehnm
good morning papa...how ya doing....had a rough week made a lot of bad choices....can't seem to get rid of the gamblers mentality...still holding losing trades in hopes that they come back around not using stops because I know what's going to happen so I don't need them..not reversing a trade because I know it can't possibly go any higher...how can someone know what he's doing wrong and still keep doing them...I just don't get it...it's very frustrating....sorry had to vent....
My suggestions... and they took me FOREVER to learn is as follows..

A. Only trade what you are willing to lose. 10%, 5%, 2%... Those numbers mean nothing to me. If $2.00 is what you can lose and not feel anything about it, then thats what you trade.

B. Risk/Reward. I try to go about 2:1 risk reward. So for every 10 trades, only need to win 4 to be making money. Imagine, having 6 losses out of 10, and still be making money. Awesome.

Finally C. Trade the time frames you are comfortable with. Its the 4 hr time frame for me personally. I don't need to be in the front of the screen all day... Got time with family, etc... Yet I still get to be in the action 6 times a day. In additions, trade signals are usually more reliable in the higher time frames. But really, it all comes down to what you are comfortable with.

D. Get a stop loss and stick with it. With suggestions A & B, a stop out is not the end of the world. It happens to EVERYONE, so don't fret when it happens to you. If your good with A & B, A stop out won't affect you at all.

Hope this helps...
  • #1,651
  • Jul 28, 2012 9:47am Jul 28, 2012 9:47am
Quoting Nate04
My suggestions... and they took me FOREVER to learn is as follows..

A. Only trade what you are willing to lose. 10%, 5%, 2%... Those numbers mean nothing to me. If $2.00 is what you can lose and not feel anything about it, then thats what you trade.

B. Risk/Reward. I try to go about 2:1 risk reward. So for every 10 trades, only need to win 4 to be making money. Imagine, having 6 losses out of 10, and still be making money. Awesome.

Finally C. Trade the time frames you are comfortable with. Its the 4 hr time frame for me personally....
Thanks Nate04...yes it does help... very much ....
  • #1,652
  • Jul 28, 2012 9:50am Jul 28, 2012 9:50am
Quoting petehnm
thanks papa...it's feels reassuring that I'm not alone...not that I would wish my situation on anyone...I've really learned a lot from watching and participating with you guys here I just need to turn some thought processes around...and yes papa I will make a strong effort to be patient...cause patients is with out a doubt a nemesis of mine and my mind....
This is my market cycle view. At some point, either one will work the way it's supposed to be.
Attached Image (click to enlarge)
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daddybearforex. com
  • #1,653
  • Jul 28, 2012 9:51am Jul 28, 2012 9:51am
Thanks everyone...my spirits are up again thanks to you guys...got to go now doing some remodeling work for my landlord...looking forward to the next week of trading...have a great weekend everyone...
  • #1,654
  • Jul 28, 2012 9:53am Jul 28, 2012 9:53am
Quoting DaddyBear
This is my market cycle view. At some point, either one will work the way it's supposed to be.
that's a good one papa....and it's exactly how it is.....gonna print it up and keep it near my computer just for a reminder...
  • #1,655
  • Jul 28, 2012 10:01am Jul 28, 2012 10:01am
Quoting petehnm
good morning papa...how ya doing....had a rough week made a lot of bad choices....can't seem to get rid of the gamblers mentality...still holding losing trades in hopes that they come back around not using stops because I know what's going to happen so I don't need them..not reversing a trade because I know it can't possibly go any higher...how can someone know what he's doing wrong and still keep doing them...I just don't get it...it's very frustrating....sorry had to vent....

wow, so true, I'm on the same boat.
  • #1,656
  • Jul 28, 2012 10:08am Jul 28, 2012 10:08am
Quoting DaddyBear
Welcome aboard, DonL.

Confucius said, To have friends come from afar is happiness. Since you have traveled from the old house to this new world, I would consider you a friend came from afar.

To help azzam and other people, I'd suggest that you provide some reputable MM for their reference. Thanks. -DB-
Thanks DB, I might even sharpen up the artistic skills at some point while I'm here!
I enjoy the tone and style of this forum!

None of us are perfect traders and will need help from time to time and that includes myself. So feel free to tell me where I might be missing something in my analysis. I don't know how many times I have read a chart, enter a trade that proved me wrong, only to find a clue that I missed and would have found, had I been more up on the edge of my seat!! The market is always right and what we don't see will bite us! LOL

So, If I can provide help, I will always be happy to try and if anyone thinks any of my posts here to be condescending, pointed or demeaning,...I would simply ask that it be re-read with a smile on your face to glean the true meaning!

Hope everyone has a great week!!
  • #1,657
  • Jul 28, 2012 10:27am Jul 28, 2012 10:27am
If you are a visiting member and currently dwelling in a dry well, please think about leaping to a pond, a new world, and enjoy yourself with some friendly frogs there.
Attached Image
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  • #1,658
  • Jul 28, 2012 10:32am Jul 28, 2012 10:32am
Quoting petehnm
For all of you that are looking from the outside...this is why I believe this thread is one of the best I've seen in many moons...Instead of the members telling me how much of a bonehead I am for the mistakes I've done and the mentality that I'm dealing with... immediately I get encouragement and helpful suggestions...climb aboard guy and gals it's what forums should be all about....
You bonehead!

But seriously, I feel you. I'm sure traders will go through that process at least once, what matters is you learn. Take a break, smoke a cigar, get some scotch and take some time off to clear your mind.

Recondition your mental state so that the next time you return to your trading terminal you are fresh to make unemotional decisions.

All the best!
  • #1,659
  • Jul 28, 2012 11:37am Jul 28, 2012 11:37am
Quoting DaddyBear
Hey you!

For those "peeping Tom" outside of the door of Aussie Trading Room and Cartoons Gallery, please get your free ticket and come inside to sing some songs for us. Your free viewing time is expired. Boys and girls come on in and enjoy yourself every time you are here!
Yo! After searching every pool. I felt this pool n cartoons r very fruitful! Thanks DB n friends for this open party n making this a welcoming place for new traders!
  • #1,660
  • Jul 28, 2012 2:30pm Jul 28, 2012 2:30pm
These are great tips for newbies like me! Also, thank you DaddyBear for starting such an open thread, that allows experienced traders to share their knowledge in a fun atmosphere!
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