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It's A Heart-Mind Game... Are You Ready?

  • #541
  • Edited Aug 31, 2012 4:42am Aug 30, 2012 6:42am | Edited Aug 31, 2012 4:42am
It's still a Heart-Mind game.

Be a thinking trader...that could only help your profitability. Let me give you an example:

Once I sent a signal for a buy entry at let's say 1.29787. The price at the time I sent it was 1.29987. This trader, after confirming a short entry jumped in and got pips to the buy entry, got out (after confirming an exit) then looked for the confirmation of the long.

These are things you've just gotta get. Some might come with life/trading experience. Gotta learn to read what is not actually being said at that moment. That is how the market "speaks" many, many times.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #542
  • Aug 31, 2012 1:00am Aug 31, 2012 1:00am
Hi FX4Newbies,

Would you mind describing the performance that you are doing?

Why do you switch to FX from stock trading?

Are you a day trader?

cheers,

kk007
  • #543
  • Edited 3:02pm Aug 31, 2012 2:39am | Edited 3:02pm
Quoting kk007
Hi FX4Newbies,

Would you mind describing the performance that you are doing?

Why do you switch to FX from stock trading?

Are you a day trader?

cheers,

kk007
Hi kk007,

Would you mind describing the performance that you are doing?

Are you referring to the chart shown? Please clarify the "performance" you are asking about.

Why do you switch to FX from stock trading?

Didn't really switch. Just haven't traded stock options for a while. One reason is the time involved to research stocks to find the better ones. Stocks are still on my list .

Are you a day trader?

For the most part yes though, depending on my schedule, I'll position trade.

Cheers,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #544
  • Aug 31, 2012 2:52am Aug 31, 2012 2:52am
Hi Fx4,

Thanks for your reply.

I want to know how good you are trading. What is your monthly growth rate for example.

cheers,
kk007

Quoting FX4Newbies
Hi kk007,

Would you mind describing the performance that you are doing?

Are you referring to the chart shown? Please clarify the "performance" you are asking about.

Why do you switch to FX from stock trading?

Didn't really switch. Just haven't traded stock options for a while. One reason is the time involved to research stocks to find the better ones. Stocks are still on my list .

Are you a day trader?

For the most part though, depending on my schedule, I'll position trade.

Cheers,

FX4...
  • #545
  • Edited 4:56am Aug 31, 2012 3:16am | Edited 4:56am
Quoting kk007
Hi Fx4,

Thanks for your reply.

I want to know how good you are trading. What is your monthly growth rate for example.

cheers,
kk007
Hello again,

I want to know how good you are trading.

That's to the point for sure kk007.

Here are some stats from one of my LIVE Accounts from the MT4 Detailed Report from July 1st, 2012 to yesterday, inclusive of yesterday's trades:

Profit Factor: 6.37

Expected Payoff: 0.94

Absolute Drawdown: 0.00

Maximal Drawdown: 2.80%

Relative Drawdown: 2.80%

Total Trades: 82

Profit Trades: 68 (82.93%)

Loss Trades: 14 (17.07%)

Maximum Consecutive Wins: 20

Maximum Consecutive Losses: 5

Maximal Consecutive Profit: 13

Maximal Consecutive Loss: 1

Average Consecutive Wins: 9

Average Consecutive Losses: 2


I'm looking for better because I believe it's possible .

Cheers,

FX4

P.S. I don't trade with stops.

P.P.S. By the way I wasn't trying to generate "good stats"...just working on doing my best with each and every trade.
Trade what you see, not what you think or feel. Let the market come to you.
  • #546
  • Aug 31, 2012 4:10am Aug 31, 2012 4:10am
Hi FX4,

How it is possible

I have been in the game for 3.5 year fulltime. Still losing. I overcame my stress problem for years. Still the edge of my method is not good. Profit factor of 2 since unachievable to me.

I don't think I have much Mind problem now, but performance is not good to win anything.

You average out 2 trades a day. Even during August, I am totally shocked.

kk007


Quoting FX4Newbies
Hello again,

I want to know how good you are trading.

That's to the point for sure kk007.

Here are some stats from one of my LIVE Accounts from the MT4 Detailed Report from July 1st, 2012 to yesterday, inclusive of yesterday's trades:

Profit Factor: 6.37

Expected Payoff: 0.94

Absolute Drawdown: 0.00

Maximal Drawdown: 2.80%

Relative Drawdown: 2.80%

Total Trades: 82

Profit Trades: 68 (82.93%)

Loss Trades: 14 (17.07%)

Maximum Consecutive Wins: 20

Maximum Consecutive Losses: 5

Maximal Consecutive Profit: 13

Maximal...
  • #547
  • Edited 4:59am Aug 31, 2012 4:20am | Edited 4:59am
Quoting kk007
Hi FX4,

How it is possible

I have been in the game for 3.5 year fulltime. Still losing. I overcame my stress problem for years. Still the edge of my method is not good. Profit factor of 2 since unachievable to me.

I don't think I have much Mind problem now, but performance is not good to win anything.

You average out 2 trades a day. Even during August, I am totally shocked.

kk007
kk007,

I have been at it overtime for just over 5 years. First of all, I developed my own approach, not that I invented some new tool...I just took lots of time observing the market and thinking...thinking about what the dealer or whomever might be after 'cause they would like to get paid too; and paid by me if possible.

I built my system (and I don't mean some automated system)...took me about 1 1/2 to 2 years I think. I have been using it now for over three years. I know EXACTLY what I need to see before I click. Same method, but I think I've changed...again, and for the better still. I had a similar degree of success about two years ago then went through a slump. I think now I'm a better heart-mind trader than I was before.

I teach traders. My primary tool of analysis is the Andrews' Pitchfork. It frames the market like no other tool I know. If you're interested let me know.

You average out 2 trades a day. Even during August, I am totally shocked.

...and that's really because of limited, focused trading time. August doesn't bother me. The market is still breathing.

Cheers,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #548
  • Aug 31, 2012 4:29am Aug 31, 2012 4:29am
Dear FX4,

I am dersperated to be helped without hestiation. I try everything and consider giving up every few months for the past 3.5 years. I think my intelligence is above average. I have been extremely weak in handle stress in the beginning, but got through after years of effort. I want to embrace the slogan "Never give up", but I need my bread. It is not much a problem in emotion now (I guess). Technically, I find I need to consider more and more and more factors, but gradually I can't find any setup with too much criteria.

How can I contact you? Thanks in advance.

kk007

Quoting FX4Newbies
kk007,

I have been at it overtime for just over 5 years. First of all, I developed my own approach, not that I invented some new tool...I just took lots of time observing the market and thinking...thinking about what the dealer or whomever might be after 'cause they would like to get paid; and paid by me.

I built my system (and I don't mean some automated system)...took me about 1 1/2 to 2 years I think. I have been using it now for over three years. I know EXACTLY what I need to see before I click. Same method. but I thinik I changed. I...
  • #549
  • Aug 31, 2012 4:31am Aug 31, 2012 4:31am
Quoting kk007
Dear FX4,

I am dersperated to be helped without hestiation. I try everything and consider giving up every few months for the past 3.5 years. I think my intelligence is above average. I have been extremely weak in handle stress in the beginning, but got through after years of effort. I want to embrace the slogan "Never give up", but I need my bread. It is not much a problem in emotion now (I guess). Technically, I find I need to consider more and more and more factors, but gradually I can't find any setup with too much criteria.

How can I contact...
Just send me a PM.

Seems like you've been through some major parts of trader development. Now you might just need help with actual trading/chart stuff. You sound like you've got the guts for sure. Let's see how we can fill in the missing pieces and maybe even flesh out what you do now.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #550
  • Aug 31, 2012 4:34am Aug 31, 2012 4:34am
Quoting FX4Newbies
Just send me a PM.

Seems like you've been through some major parts of trader development. Now you might just need help with actual trading/chart stuff. You sound like you've got the guts for sure.

FX4
I have checked that you PM is closed
  • #551
  • Aug 31, 2012 4:37am Aug 31, 2012 4:37am
Quoting kk007
I have checked that you PM is closed
Strange. Let me try PM-ing you.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #552
  • Aug 31, 2012 4:39am Aug 31, 2012 4:39am
Quoting FX4Newbies
Strange. Let me try PM-ing you.

FX4
Many thanks
  • #553
  • Aug 31, 2012 4:52am Aug 31, 2012 4:52am
Quoting kk007
I have checked that you PM is closed
Checked my settings. They should be all good now .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #554
  • Edited 3:31pm Aug 31, 2012 5:28am | Edited 3:31pm
There are just three ways a trader can lose the money they put into their account (outside of some fraudulent activity):

1. Put on bad trades that result in losses that are larger than your winnings.

2. Put on good trades that are mismanaged (or your computer or platform experiences some technical challenge) and the result is losses larger than your winnings.

3. Have your stop losses hit. (Your stop losses stop "their" losses too.)

If there is another way please let me know.

Wire transfer fees are just the cost of doing business. I guess these should be kept to a minimum.

If you can solve those three problems, you get to keep your money and even add more to the balance.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #555
  • Aug 31, 2012 2:47pm Aug 31, 2012 2:47pm
I made an interesting discovery,
that a) I trade more in the interest of discovery, and thus do not feel comfortable profiting unless it is understandable;
and, b) I must measure the intent (selection and proportion) of that discovery, to let go of the trade when the intent is fulfilled and so avoid ill-proportioned risk.

This is because I tend to be anxious about or to capitulate (in the cycle of market emotions) to my trades, owning them only upon the 'absolute truth' of the chart being apparent enough to risk. The left-right approach that this is, has anxiety and capitulation on the right side, outside of a trade, so as to study it.

A more common emotional approach would be a top-down approach, so that a trader lends what is owned in depression (the bottom ideal position in the cycle), until the trade returns to where the trader gathers the money in greed and/or ecstacy. It is, then, easier to generalize about method and be specific in account details. Too, it is easier to finance a top-down approach, due to its being common also as a managerial style.

Each person could work with their own emotional style, in order to trade according to what invokes their emotions (and thus, assumedly, their most-reliable efforts) the most and to avoid trading with what pushes them too far or not far enough.
  • #556
  • Aug 31, 2012 2:59pm Aug 31, 2012 2:59pm
Quoting ha-pattern
I made an interesting discovery,
that a) I trade more in the interest of discovery, and thus do not feel comfortable profiting unless it is understandable;
and, b) I must measure the intent (selection and proportion) of that discovery, to let go of the trade when the intent is fulfilled and so avoid ill-proportioned risk.

This is because I tend to be anxious about or to capitulate (in the cycle of market emotions) to my trades, owning them only upon the 'absolute truth' of the chart being apparent enough to risk. The left-right approach that...
Ha-Pattern,

I think you've made a very powerful discovery about yourself. Sometimes people even feel guilty winning or making a profit. So much needs to unraveled sometimes to get to the bottom of our trading selves.

I like this:

Each person could work with their own emotional style, in order to trade according to what invokes their emotions (and thus, assumedly, their most-reliable efforts) the most and to avoid trading with what pushes them too far or not far enough.

I think readers should chew on that a bit .

Thanks Ha-,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #557
  • Edited 8:53am Sep 1, 2012 7:52am | Edited 8:53am
Subby and NeverAgain are back from vacation (and the Olympics as NeverAgain decided to go). He and DoingWell decided to let Subby know that he has also been trading a Live 10K account. They'll be having dinner tonight to discuss Subby's progress and next the phase. Will keep you posted.

If you're not sure who Subby and NeverAgain are, just do a thread search.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #558
  • Edited Sep 2, 2012 7:28am Sep 1, 2012 12:19pm | Edited Sep 2, 2012 7:28am
Quoting FX4Newbies
Think like a WINNER! See yourself winning before the games even begin. And remember, it's not about having winning trades as much as it is about banking those profits. If you made money, you won.

FX4
I like this one

Last week ( before this ending one) was a great one for me. While this ending one was not disastrous, but end up with a small loss.

- I did not followed my rules and I traded with emotion
- I was too greedy and I let go very nice profit because I wanted more
- I entered in not optimal location, because I was seeing setup everywhere
- Etc.

I started confident end I ended nervously in expectation to regain my losses.

A lesson learned

Martin
  • #559
  • Sep 1, 2012 5:29pm Sep 1, 2012 5:29pm
Quoting arjfca
I like this one

Last week ( before this ending one) was a great one for me. While this ending one was not disastrous, but end up with a small loss.

- I did not followed my rules and I traded with emotion
- I was too greedy and I lot go very nice profit because I wanted more
- I entered in not optimal location, because I was seeing setup everywhere
- Etc.

I started confident end I ended nervously in expectation to regain my losses.

A lesson learned

Martin
You have no idea how I can identify with everything you just described. LOL. It happens...

The key is being able to diagnose where you went wrong and put things in place (mentally and emotionally) to guard against it happening as often or ever again.

A lesson learned...then the small loss was worth it, so you still gained.

Good job!

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #560
  • Edited 1:18am Sep 16, 2012 12:42am | Edited 1:18am
Hello Traders,

To my surprise, my threads have been moved to the Commercial Forum (beta). I am discussing the matter with the Administrator (Twee) as I have not put anything out there to FF members for sale. Will certainly make a post as to the outcome of the discussions and my decision.

I will continue to post the weekly wrap-ups on the blog during that time.

Take care,

FX4

EDIT: Thought I should mention that I have never received one penny from anyone here at FF.
Trade what you see, not what you think or feel. Let the market come to you.
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