"I know one thing, that I know nothing." Sokrates
- #49,681
- Aug 23, 2012 10:35am Aug 23, 2012 10:35am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
- #49,682
- Aug 23, 2012 10:37am Aug 23, 2012 10:37am
- Joined Oct 2009 | Status: Whn Market Warms u..U keep it Kool | 6,578 Posts
You got that mumbo trendline? Still, its only imaginary.
- #49,683
- Aug 23, 2012 10:38am Aug 23, 2012 10:38am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
What are those MAs doing? Are they helping?
"I know one thing, that I know nothing." Sokrates
- #49,684
- Aug 23, 2012 10:41am Aug 23, 2012 10:41am
- Joined Oct 2009 | Status: Whn Market Warms u..U keep it Kool | 6,578 Posts
Just for orientation, no big deal. Daily, H12, H4, H1 on lower timeframes, so I dont get sidetracked.
- #49,685
- Aug 23, 2012 10:52am Aug 23, 2012 10:52am
- Joined Oct 2009 | Status: Whn Market Warms u..U keep it Kool | 6,578 Posts
- #49,686
- Aug 23, 2012 10:58am Aug 23, 2012 10:58am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #49,688
- Aug 23, 2012 11:01am Aug 23, 2012 11:01am
- | Joined Jun 2009 | Status: nothing new under the sun | 1,428 Posts
I= IT'S
T= TRUTH
Allah has permitted trade and has forbidden interest [koran]
- #49,690
- Aug 23, 2012 11:16am Aug 23, 2012 11:16am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #49,691
- Aug 23, 2012 11:18am Aug 23, 2012 11:18am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #49,694
- Aug 23, 2012 11:21am Aug 23, 2012 11:21am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #49,695
- Aug 23, 2012 11:22am Aug 23, 2012 11:22am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #49,696
- Aug 23, 2012 11:27am Aug 23, 2012 11:27am
http://youtu.be/UtKADQnjQmc
Well just a quick heads up from last night incase anyone was wondering. I got well and truly slaughtered. Cut my losses and gave up the chase virtually wiping out most of my account. So its time to revaluate and get a proper job. Well for the time being anyway. So lesson learnt the hard way. If a quick short at high leverage goes against you do yourself a favour and pull the plug b4 it gets out of hand and always have a back up plan. I chased my dream on very little and failed but i can assure you I WILL BE...
Same here. I added on a slightly larger short than I usually do. (Using small, slightly leveraged positions). I'm down about 19% overall right now with a total leverage over all positions of about 7:1.
At least I'm learning with real money and not demo (it just doesn't feel the same). I can afford to lose this if it so happens. I'll probably not be adding on anything else until it's clear this (imo irrational) bull run is over.
- #49,697
- Aug 23, 2012 11:27am Aug 23, 2012 11:27am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
- #49,699
- Aug 23, 2012 11:30am Aug 23, 2012 11:30am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
http://youtu.be/UtKADQnjQmc
Well just a quick heads up from last night incase anyone was wondering. I got well and truly slaughtered. Cut my losses and gave up the chase virtually wiping out most of my account. So its time to revaluate and get a proper job. Well for the time being anyway. So lesson learnt the hard way. If a quick short at high leverage goes against you do yourself a favour and pull the plug b4 it gets out of hand and always have a back up plan. I chased my dream on very little and failed...
Most traders have experienced "oh sh*t" moments when starting trading.
It is really important to design your plan and experience your inexperience on demo accounts.
Then open an account with say $100-$1000 and trade your plan. You very well may lose alot here, but the experience of emotion and money will be learned.
If you lose half your capital in small account go back to demo and fine tune plan.
*Wulfgar so eloquently described this method earlier and it is how I have traded to learn. Many of us did not have a great mentor but learned in the school of hard knocks. I still place a 2-5 cent trade on my small account with $14+ dollars in it every once in awhile just to keep me humble when it comes to leverage. I tried to teach my son to trade with $500 in account and it now has $14+ in it. I told him University and conventional way of living was right for him until he can commit his own time, money, and emotion in trading.
One other thing, becoming a trader is not a destination, but a journey of ups and downs, emotionally and financially. Success is determined on how these are handled.
Do not beat yourself up but go back to learning your comfort zone.
Good luck and hope to see you posting in here as you develop your plan on demo or live.
Cheers
- #49,700
- Aug 23, 2012 11:31am Aug 23, 2012 11:31am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
Most traders have experienced "oh sh*t" moments when starting trading.
Happens still quite often.
"I know one thing, that I know nothing." Sokrates