Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Another simple system - Time-Frame 15
[quote=lowweiting;6423616]
Hi lowweiting,
Thanks for your comments. I really like to learn but I donno how and how to overcome my problems (lack of discipline and random trading)
glad to see you are making good progress.
and tahnks for reminding the YL YH.
Many have told me about it but I didnt listen. For weeks I have been using YO/YC instead of YH/YL.
Hihi, Fxrobinhood...
i am newbie too, hope u dont mind i put some comment, reason why i dint take the trade is because as tieutri said there was YL just below...before that i was made same misstake like u and Master LE1 remind me ...thk everyone for contribution and let newbie learn....
Thanks for your comments. I really like to learn but I donno how and how to overcome my problems (lack of discipline and random trading)
glad to see you are making good progress.
and tahnks for reminding the YL YH.
Many have told me about it but I didnt listen. For weeks I have been using YO/YC instead of YH/YL.
- #19,648
- Edited 6:44am Feb 6, 2013 6:27am | Edited 6:44am
- Joined Nov 2008 | Status: Trader | 50,230 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #19,650
- Feb 6, 2013 8:30am Feb 6, 2013 8:30am
- Joined Nov 2008 | Status: Trader | 50,230 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #19,651
- Feb 6, 2013 8:35am Feb 6, 2013 8:35am
[quote=lowweiting;6423616]
Hi Fxrobin, lowweiting
I also newbike like you
. Very happy to have you along a path and silently thanked the experience trader always specify the errors for us.
I just finished GU. Not achieve the expected profit (+2 pips). Continue to practice, practice
Always learn from you
Hihi, Fxrobinhood...
i am newbie too, hope u dont mind i put some comment, reason why i dint take the trade is because as tieutri said there was YL just below...before that i was made same misstake like u and Master LE1 remind me ...thk everyone for contribution and let newbie learn....
Hi Fxrobin, lowweiting
I also newbike like you
. Very happy to have you along a path and silently thanked the experience trader always specify the errors for us.I just finished GU. Not achieve the expected profit (+2 pips). Continue to practice, practice
Always learn from you
- #19,656
- Edited 1:35pm Feb 6, 2013 1:24pm | Edited 1:35pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
[quote=fxrobinhhood;6423593]
since you didn't want any advise on particular trade, i'm just gonna skip that.
however, i want to touch on the subject of "setups." setups are basically a type of price behavior or particular price patterns that gets repeated in the market. hence it gives us some degree of very short term predictability.
entry picking however is a skill.
to be able to recognize the "setups," a lot of works need to be involved. back testing, forward testing, how many times do they occur in how much time period, what are the of success rate, what to expect in minimum when works out and so on...
and no one can tell you or teach you about the setups that they go by. you need to be able to distinguish them that works for you.
to give you an example: main setups that i look for, among others, are divergence. it happens very frequent in the market. i know what the minimum expectations are even in the counter conditions, and i know where my entry points are when i see one. unfortunately, i can't teach others. either they all get it wrong or i do a horrible job in teaching.
hence, my advise to you is that you take a break if you haven't been successful with trading. instead, spend some time, go over the charts and work on those setups. believe me... it will make a huge difference in your trading.
Hi tieutri,
Thanks for your comment. I know I have problem in discipline. Thnx for the indic I found yesterday.
Besides I am not following what I read or what I hear.
It s funny!!!
I have been taking some random trades for the last 3 years and I just call them setups!!!
And then wondering why I am not making money or learning to make money!
however, i want to touch on the subject of "setups." setups are basically a type of price behavior or particular price patterns that gets repeated in the market. hence it gives us some degree of very short term predictability.
entry picking however is a skill.
to be able to recognize the "setups," a lot of works need to be involved. back testing, forward testing, how many times do they occur in how much time period, what are the of success rate, what to expect in minimum when works out and so on...
and no one can tell you or teach you about the setups that they go by. you need to be able to distinguish them that works for you.
to give you an example: main setups that i look for, among others, are divergence. it happens very frequent in the market. i know what the minimum expectations are even in the counter conditions, and i know where my entry points are when i see one. unfortunately, i can't teach others. either they all get it wrong or i do a horrible job in teaching.
hence, my advise to you is that you take a break if you haven't been successful with trading. instead, spend some time, go over the charts and work on those setups. believe me... it will make a huge difference in your trading.
- #19,659
- Edited 8:51am Feb 7, 2013 2:38am | Edited 8:51am
- | Joined Nov 2012 | Status: Trader | 176 Posts
[quote=pkimnyc;6425018]
Thanks a lot pkimnyc.
Your wise and sophisticated remarks has always help me as well as others. I understand many of these but and I try to practice but as others said I am not really doing.
To my dummy view, setups are somewhat repeated or systematic behavior which can be soptted if we act systematically. Entries and timing are part of that. Once we can get right setups, we need discipline and MM to build up and increase our accounts.
I know that it is nothing overnight.
I thought I was at stage 3 of trading "Euraka" after so much time and even entering conscious competence.
But I keep losing my control and doing random behaviours.
I started this last chance before taking a break for some time or even for good.
For the 1st and 2nd day I was in control. had both winnerss and lossers.
3rd day I lost abit becuz of lack of dicipline. I knew it.
4rd day I went wild and started killing my account, losing 135 pips in 1 day. (statement attached)
That is what happens.
I know I am sounding boring. I ve been moaning and posting my losses instead of charts based on LE1 method.
This is my last accout before taking a break so my last chance.
Great pips to you. Hope other newbies learn from advices you give me.
since you didn't want any advise on particular trade, i'm just gonna skip that.
however, i want to touch on the subject of "setups." setups are basically a type of price behavior or particular price patterns that gets repeated in the market. hence it gives us some degree of very short term predictability.
entry picking however is a skill.
to be able to recognize the "setups," a lot of works need to be involved. back testing, forward testing, how many times do they occur in how much time period, what are the...
Your wise and sophisticated remarks has always help me as well as others. I understand many of these but and I try to practice but as others said I am not really doing.
To my dummy view, setups are somewhat repeated or systematic behavior which can be soptted if we act systematically. Entries and timing are part of that. Once we can get right setups, we need discipline and MM to build up and increase our accounts.
I know that it is nothing overnight.
I thought I was at stage 3 of trading "Euraka" after so much time and even entering conscious competence.
But I keep losing my control and doing random behaviours.
I started this last chance before taking a break for some time or even for good.
For the 1st and 2nd day I was in control. had both winnerss and lossers.
3rd day I lost abit becuz of lack of dicipline. I knew it.
4rd day I went wild and started killing my account, losing 135 pips in 1 day. (statement attached)
That is what happens.
I know I am sounding boring. I ve been moaning and posting my losses instead of charts based on LE1 method.
This is my last accout before taking a break so my last chance.
Great pips to you. Hope other newbies learn from advices you give me.
