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My mentality - my problem

  • #41
  • Feb 28, 2013 4:55pm Feb 28, 2013 4:55pm
Quoting Slim Buffett
It seems that you know what all your problems are. It also seems that you simply seek attention and want someone to wallow with you in your own self-pity.

As you know what your difficulties are then simply set about correcting them. Or you could simply lay about and call yourself stupid

Maybe you are..... IDK

get a grip tough love mi amigo
I know what my problems are, and I try to fight them. attention seeking? rather trying to solve my problems, and to find people with similar problems, plus advice those that didn't get yet to point where I am ;-)

and I won't lay about and call myself stupid (not because of forex anyway ;-)) - I spent two years practising forex, reading, trading, testing and I don't want to turn back after I got so far
On my way to financial independence - if others can do it - I can do it
  • #42
  • Feb 28, 2013 4:58pm Feb 28, 2013 4:58pm
Quoting Eur Usd
discipline is my problem - you're right. Why I mentioned about Monday? because I won't be trading tomorrow (I wasn't today), and the open trades are going my direction now, so will leave them - I was silly I've opened them in first place, and if it was real cash I would be very nervous about it (500 Pounds is the amount I will start my live account with after few months of successful demo trading and getting rid of discipline problems). I already got rid of many of my silly habits, but still have few to fight.
I just noticed your explorer is demo. I know I will be going against a lot of the advice given on this forum but demo is of very little value. I would say that you might have a little easier time in conquering your discipline issues if you open a small real account. With demo we often don't care what happens because there is no pain in a loss. You MUST trade it from day one though with discipline. You have to have realistic position sizes and leverage. If you make a habit of maxing position sizes with 400/1 leverage you won't last long in trading.

Good luck, this is a VERY hard business.
  • #43
  • Feb 28, 2013 5:03pm Feb 28, 2013 5:03pm
Quoting Seneca pilot
I just noticed your explorer is demo. I know I will be going against a lot of the advice given on this forum but demo is of very little value. I would say that you might have a little easier time in conquering your discipline issues if you open a small real account. With demo we often don't care what happens because there is no pain in a loss. You MUST trade it from day one though with discipline. You have to have realistic position sizes and leverage. If you make a habit of maxing position sizes with 400/1 leverage you won't last long in trading....
I treat demo as emotional as real live account. only the loss is virtual but when I loose I feel bad as well on demo, in my case It may be more about account size. for example on 100 Pounds account all the single profits (for example 3%=3Pounds) seem to be too little (and maybe it forces me to trade more). On 500 Pounds account the 3% target seems like a better value, both, loss and profit seems realistic and about 10% of profit is my almost daily wage
On my way to financial independence - if others can do it - I can do it
  • #44
  • Feb 28, 2013 5:05pm Feb 28, 2013 5:05pm
Quoting Slim Buffett
It seems that you know what all your problems are. It also seems that you simply seek attention and want someone to wallow with you in your own self-pity.

As you know what your difficulties are then simply set about correcting them. Or you could simply lay about and call yourself stupid

Maybe you are..... IDK

get a grip tough love mi amigo
When I first read the thread yesterday, I thought maybe there was a legitimate issue the thread starter needed help with. Turns out he is simply over-trading, knows he is, and is just blathering about sticking to rules. No problem that can't be fixed on his own (as he acknowledges himself).

Then maybe pity and attention is indeed the purpose of this thread.
  • #45
  • Feb 28, 2013 5:07pm Feb 28, 2013 5:07pm
Quoting 2+2=4ex
When I first read the thread yesterday, I thought maybe there was a legitimate issue the thread starter needed help with. Turns out he is simply over-trading, knows he is, and is just blathering about sticking to rules. No problem that can't be fixed on his own (as he acknowledges himself).

Then maybe pity and attention is indeed the purpose of this thread.
and I see I got a lot of attention from you
thank you noble user

to be more serious - I mentioned before - if you don't like this thread than leave - If there will be no interest in it it will go down and dissapear.
I am off to bed, good night
On my way to financial independence - if others can do it - I can do it
  • #46
  • Feb 28, 2013 5:10pm Feb 28, 2013 5:10pm
Quoting Seneca pilot
I just noticed your explorer is demo. I know I will be going against a lot of the advice given on this forum but demo is of very little value. I would say that you might have a little easier time in conquering your discipline issues if you open a small real account. With demo we often don't care what happens because there is no pain in a loss. You MUST trade it from day one though with discipline. You have to have realistic position sizes and leverage. If you make a habit of maxing position sizes with 400/1 leverage you won't last long in trading....
I totally agree with this. In my opinion, the best use for demo is for learning where the buttons are. I believe you are better off with a tiny real account for learning how to trade.
  • #47
  • Feb 28, 2013 5:12pm Feb 28, 2013 5:12pm
Quoting 2+2=4ex
I totally agree with this. In my opinion, the best use for demo is for learning where the buttons are. I believe you are better off with a tiny real account for learning how to trade.
I already tried with small real account - I was doing great, but still the money earned seemed so small - some people hunt pips, I hunt percentage and money value (so 15 Pounds profit will look better than 1 Pound)
On my way to financial independence - if others can do it - I can do it
  • #48
  • Feb 28, 2013 5:17pm Feb 28, 2013 5:17pm
Quoting Eur Usd
I treat demo as emotional as real live account.

IMHO..... it is nearly impossible to treat demo like a live account

Demo (other than for testing) is like a video game where you shoot 'em up, drive crazy and otherwise
take risk that you would never dream of in the real world.

That's just my opinion but try putting some REAL money on the line and see
if it helps. If you can't bring yourself to risk real money then there's no hope for
you and you should just get out.


cheers
When the Joker is in the deck.. fear not and play it well
  • #49
  • Feb 28, 2013 5:19pm Feb 28, 2013 5:19pm
Quoting Eur Usd
I already tried with small real account - I was doing great, but still the money earned seemed so small - some people hunt pips, I hunt percentage and money value (so 15 Pounds profit will look better than 1 Pound)
This is going to cause a problem for you. Trading is not about money. Trading is about consistently making the correct decisions. If you make the correct decisions you will make money. If you chase money you will continually make poor decisions.
  • #50
  • Feb 28, 2013 5:25pm Feb 28, 2013 5:25pm
Quoting Slim Buffett
try putting some REAL money on the line
I will if I will succeed on demo. Within 2 years I've lost about 1,5k (I treat is as money spent for education) so am not going to loose more ;-)
On my way to financial independence - if others can do it - I can do it
  • #51
  • Feb 28, 2013 5:47pm Feb 28, 2013 5:47pm
Quoting Eur Usd
I will if I will succeed on demo. Within 2 years I've lost about 1,5k (I treat is as money spent for education) so am not going to loose more ;-)
You went live too early. Now you know what you are doing and what you want from trading you need to make this real again. It is sheer lazyness that is causing you the trouble because the afternoon session isn't all that important. So you give it back again? So what? It isn't real money.
  • #52
  • Feb 28, 2013 5:59pm Feb 28, 2013 5:59pm
Quoting Seneca pilot
Trading is not about money. Trading is about consistently making the correct decisions. If you make the correct decisions you will make money. If you chase money you will continually make poor decisions.
Brilliant! Bookmarked for future reference.
  • #53
  • Feb 28, 2013 6:07pm Feb 28, 2013 6:07pm
Quoting Eur Usd
I will if I will succeed on demo. Within 2 years I've lost about 1,5k (I treat is as money spent for education) so am not going to loose more ;-)
That's what I'm trying to say.
First, if you're not going to lose more then quit now. That's what you just said. goodbye

Second, I suspect that you're not going to quit now (cheers for you) so put some real
money up. You've apparently been trading long enough to know that it isn't a video
game. Prove it to yourself

The amount of money doesn't matter. It should be enough though, to make you feel
uncomfortable if you lose it

You can trade for pennies
dimes
dollars or
millions

just make it real

best of luck.... it's all in your hands and no advice that you're going to get
on this forum will help your mental outlook

it's all within YOU
When the Joker is in the deck.. fear not and play it well
  • #54
  • Feb 28, 2013 6:51pm Feb 28, 2013 6:51pm
Quoting khanderoo
I hope the best for you.

I had a similar planing.

After five years of struggling in trading....

1. I developed a simple & clear trading system myself
2. I tested it on demo for 3 months in profit
3. I started trading live starting with 0.01 of standard lot (as minimum as possible) to make the emotional influence as low as it could be.
4. Increased my volume as it felt OK to me in steps.
5. Six month has passed from that time. Now I could easily risk 4~5% without hesitation. I still have lots of emotional issues that you have defined here. BUT...
http://www.reactiongifs.com/wp-conte...-thunbs-up.gif
  • #55
  • Feb 28, 2013 7:42pm Feb 28, 2013 7:42pm
Quoting 2+2=4ex
That sounds great in theory, but you know nobody is going to do that. LOL
Then you need to increase the punishment stakes to the broomstick or vinegar methodology:
Quoting Binyamin
Plan your trade, trade your plan. Should you break your plan punish yourself physically. Get someone to whack your buttocks with a broom stick or if its my preference, take a shot of undiluted vinegar. Its healthy and it won't kill you, it will only hurt you.
Some wisdom from the Choros thread, no less.
  • #56
  • Edited 8:30pm Feb 28, 2013 7:58pm | Edited 8:30pm
Quoting Seneca pilot
Trading is not about money. Trading is about consistently making the correct decisions. .
Good one. I think I will use it as my signature. If you don't mind
  • #57
  • Feb 28, 2013 8:35pm Feb 28, 2013 8:35pm
Quoting Seneca pilot
This is going to cause a problem for you. Trading is not about money.ake the correct decisions you will make money. If you chase money you will continually make poor decisions.
Trading damn well better be about money.

If I worked at a 9-5 job you can bet that I expect to be paid.

If I'm driving to a JOB and didn't run over anyone
I made a good decision
get it

and I don't want to spend 16 hrs/day just because of a right decision that doesn't
make a FINANCIAL GAIN
When the Joker is in the deck.. fear not and play it well
  • #58
  • Feb 28, 2013 8:45pm Feb 28, 2013 8:45pm
Quoting Slim Buffett
Trading damn well better be about money.
Trading currencies technically is about money. Haha.
  • #59
  • Feb 28, 2013 8:48pm Feb 28, 2013 8:48pm
Quoting ALThau
Good one. I think I will use it as my signature. If you don't mind
Feel free to use it. Many people won't get it. The ones that do will probably be profitable traders.
  • #60
  • Feb 28, 2013 8:56pm Feb 28, 2013 8:56pm
Quoting Seneca pilot
Feel free to use it. Many people won't get it. The ones that do will probably be profitable traders.
It's a bit of a paradox though

maybe you'll get that as well
When the Joker is in the deck.. fear not and play it well
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