£458 to 458 Italia! | Page 2 | Forex Factory

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£458 to 458 Italia!

  • #21
  • Oct 26, 2011 2:54pm Oct 26, 2011 2:54pm
Nearly there...er, back to starting capital!

My U/J trade was thanks to the Wizard. If you have not caught up with him - you should.

Managed the E/U trade myself
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  • #22
  • Nov 3, 2011 8:26am Nov 3, 2011 8:26am
Some poorish trades recently but this may turn out ok.
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  • #23
  • Nov 3, 2011 9:05am Nov 3, 2011 9:05am
Out for + 147 pips.
  • #24
  • Nov 3, 2011 5:30pm Nov 3, 2011 5:30pm
Why not just use myfxbook.com?

Its tracks your journal on MT4 and is FREE. No need to be muckin around with snapshots.

Good Luck!
  • #25
  • Nov 3, 2011 7:02pm Nov 3, 2011 7:02pm
Thanks!

Will have a look.
  • #26
  • Nov 11, 2011 5:00am Nov 11, 2011 5:00am
Looking at myfxbook at the weekend but in the meantime :-
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  • #27
  • Edited 5:38am Nov 11, 2011 5:24am | Edited 5:38am
Quoting 4FXsake
It's incredible how the psychology of my trading changed knowing that some people may look at each trade.

Ridiculously, I spent the last two days trying to catch falling knives! I even let a trade run in the hope it would come back.

I lost nearly 40% of the account but got it back to £516.

I won't post the trades unless anyone wants to have a laugh.

The 458 seems a long way off...
I hope this is constructive. I've only ever traded once without a SL. When I first was learning to trade, I was trading with stupidly large positions for a novice. I had a £30k account but even so, I was taking positions with about £50 a pip size. I caught a sharp move in the wrong direction and panic set in immediately as I saw my loss fly into the many hundreds in a matter of seconds. I immediately decided to double up the opposite direction, so sure she was going to turn (averaged in, in a fucked up sort of way). I then started doing this in all manner of directions until I had about 8 trades on at the same time and had no idea where I was with it all. Eventually I bailed out at £350 loss which I was grateful for as at one point, my unrealised loss was well over £1000.

That was all the lesson that I needed. I started using a stop on every order after and being uber disciplined became my driving goal. About 20 trading plans and many untold hours of slapping myself around the chops later and i'm still not 100% there but so much closer than I ever have been.

Nobody ever made it in this game by losing 40% of their account on a single trade. I have no doubt you know it but you must take that as a shot across the bows. You escaped but if you are even slightly serious about this, you can't let a repeat happen. The market will bite and bite hard eventually, we only get so many chances.

Best of luck mate.
  • #28
  • Nov 11, 2011 5:46am Nov 11, 2011 5:46am
Quoting Trotty
I hope this is constructive. I've only ever traded once without a SL. When I first was learning to trade, I was trading with stupidly large positions for a novice. I had a £30k account .....

Thanks Trotty! Absolutely agree with you. I lost the plot hoping it would come back, afterall what would people think!

I have traded my way back to profit and have used a stoploss everytime since.

Funny how I keep opening the rule book having said I was going to throw it away. Successful traders stick to the rulebook like superglue and their discipline is amazing.

Thanks for your contribution. I appreciate it and your support!

Best of luck to you too!
  • #29
  • Nov 11, 2011 7:14am Nov 11, 2011 7:14am
Quoting 4FXsake
Thanks Trotty! Absolutely agree with you. I lost the plot hoping it would come back, afterall what would people think! [IMG]file:///C:/Users/Neil/AppData/Local/Temp/msohtml1/01/clip_image001.gif[/IMG]

I have traded my way back to profit and have used a stoploss everytime since.

Funny how I keep opening the rule book having said I was going to throw it away. Successful traders stick to the rulebook like superglue and their discipline is amazing.

Thanks for your contribution. I appreciate it and your support!

Best of luck to you too! [IMG]file:///C:/Users/Neil/AppData/Local/Temp/msohtml1/01/clip_image002.gif[/IMG]...
No problem at all mate. I think most traders have an absolute burning desire to see other retail traders make it. It's a rare thing really, in most forms of business, someone doing the same thing as you at the same time is your competition but not in trading. As us retail traders make up a poxy 7% of traded revenues each and every day, there's a feeling that we are all in it together against the institutions. The truth is, every retail trader could be profitable and it wouldn't shunt the markets out of their typical patterns much at all, if anything. We should all learn from each others mistakes and strive to make one another as good as we can be

You're right of course. The defining characteristic that you will find in EVERY successful trader, be it one trading millions for Credit Suisse or the bloke down the road trading micro lots, is discipline and consistency of approach. Without them two constants, you're not necessarily doomed to failure but much more likely to find it than success.

Oh, by the way, when you get the car, make sure you head of to Manchester and give me a ride out
  • #30
  • Nov 11, 2011 7:27am Nov 11, 2011 7:27am
Oh, by the way, when you get the car, make sure you head of to Manchester and give me a ride out [/quote]

Will do but they may not still make it by then!
  • #31
  • Nov 14, 2011 7:30am Nov 14, 2011 7:30am
Nice E/J set up today.
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  • #32
  • Nov 15, 2011 11:58am Nov 15, 2011 11:58am
Nearly 75% gain so far - beats the bank anyway! It would be good to get to £1000 and then increase stake size a little.
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  • #33
  • Nov 16, 2011 2:26pm Nov 16, 2011 2:26pm
Small E/G trade today.
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  • #34
  • Nov 23, 2011 5:26am Nov 23, 2011 5:26am
Hi man, great idea! and a hell of a car to pick.
Its interesting to be able to follow a fellow traders progression as it happens, and good to see you making consistant gains on the account now.
Ive only been trading demo for 3 weeks now but have started reading up on scalping (i know most say i should only scalp when more experienced), it would be cool to know what criteria/methods you use when scalping.
All the best, rob
  • #35
  • Nov 29, 2011 3:58pm Nov 29, 2011 3:58pm
Quoting robthorp
Hi man, great idea! and a hell of a car to pick.
Its interesting to be able to follow a fellow traders progression as it happens, and good to see you making consistant gains on the account now.
Ive only been trading demo for 3 weeks now but have started reading up on scalping (i know most say i should only scalp when more experienced), it would be cool to know what criteria/methods you use when scalping.
All the best, rob

Hi Rob,

Not been trading much what with work and stuff and may move to LMAX with the account. Their MultiCharts package is not quite running as I would want but I dare say they will get that sorted.

I used to have my own method in the past which worked well but after a good while, it started to unravel and I wasn't getting the same results.

Basically I am now playing support and resistance but recently some levels that looked good are sliced through as if they never existed! Now experimenting with something I noticed along the way and hope this will produce good results. Will keep you posted.

Thanks for dropping by and good luck with your trading!
  • #36
  • Nov 28, 2012 4:31pm Nov 28, 2012 4:31pm
Back after a year out (is it really that long?). Can't trade now other than on a daily basis so altered trading style to see if I can still get there.

Two chances I hear you say!

Fat and No.

Still dreaming tho'

Demo so far but encouraging results.
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  • #37
  • Dec 3, 2012 3:49am Dec 3, 2012 3:49am
One or two faltering but will check at end of the day.
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  • #38
  • Dec 3, 2012 10:30am Dec 3, 2012 10:30am
I cant imagine being in these positions for too much longer. Reversals are surely around the corner.
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  • #39
  • Last Post: Dec 7, 2012 2:13am Dec 7, 2012 2:13am
As I thought, the turn was imminent. Reversed a few with the others on watch.
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