My mentality - my problem | Page 10 | Forex Factory

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My mentality - my problem

  • #181
  • Jun 4, 2013 4:57am Jun 4, 2013 4:57am
Quoting broketrader
{quote} {quote} Both of your systems show almost the same All Time Result, so it would be more productive to have a gentleman's thread discussion on how to improve each one's system than to read testosteronic argumentation that serves nobody. Don't you think so ?

no. his system is worse
On my way to financial independence - if others can do it - I can do it
  • #182
  • Jun 4, 2013 5:04am Jun 4, 2013 5:04am
Quoting Eur Usd
{quote} no. his system is worse

hum
Simplicity is the Ultimate Sophistication.
  • #183
  • Jun 4, 2013 7:07am Jun 4, 2013 7:07am
I am happy coz I am getting better everyday , if you look at my explorer , it is because I lost a lot of money some 4 months ago , that's why I am down
  • #184
  • Jun 4, 2013 7:13am Jun 4, 2013 7:13am
Quoting tafadzwa02
I am happy coz I am getting better everyday , if you look at my explorer , it is because I lost a lot of money some 4 months ago , that's why I am down
I hope you will get better, but be careful, on your most recent pages of your trade list, your losers are bigger in percentage than your winners.

It's the mistake we all make. Wait for a loser to recover and we lose more and cut too early a winner and win less...
Simplicity is the Ultimate Sophistication.
  • #185
  • Jun 5, 2013 10:06am Jun 5, 2013 10:06am
What's going through your mind right now?
  • #186
  • Jun 5, 2013 11:19am Jun 5, 2013 11:19am
Quoting tafadzwa02
What's going through your mind right now?
what you're on about? you probably want to topup because you had a profitable day first time in 2 weeks? ;-)

what I do is I test something I had an idea abouta bout 1,5 year ago and then overleveraging killed me (after getting 800% in 2 months, but then I was betting all cash all the time). small positions, on sideways market. each position equals to 10% of whole account - no s/l, just tp, movement of 100 pips against you takes only about 4% of the account - will be at work next 10 days in a row so can't trade from home - will try how it works, no matter how silly it looks ;-)
On my way to financial independence - if others can do it - I can do it
  • #187
  • Jun 6, 2013 2:54am Jun 6, 2013 2:54am
Quoting Eur Usd
{quote} what you're on about? ----)
I am sure you are breathing a sign of relief coz I have just joined you in the bullish sentiment of EURJPY , you can relax now coz we are on the right track
  • #188
  • Jun 6, 2013 4:42am Jun 6, 2013 4:42am
Quoting tafadzwa02
{quote} I am sure you are breathing a sign of relief coz I have just joined you in the bullish sentiment of EURJPY , you can relax now coz we are on the right track
I am starting to worry now
On my way to financial independence - if others can do it - I can do it
  • #189
  • Jun 6, 2013 5:01am Jun 6, 2013 5:01am
Quoting Eur Usd
{quote} I am starting to worry now
lol , I am even more worried , this thing is falling fast
  • #190
  • Jun 6, 2013 6:09am Jun 6, 2013 6:09am
Does Choros allow for 145 pips stop? that's a bit dodgy
  • #191
  • Jun 6, 2013 6:28am Jun 6, 2013 6:28am
Quoting tafadzwa02
Does Choros allow for 145 pips stop? that's a bit dodgy
It's not choros what I do this time ;-) it's just a test. I have no time to trade choros
On my way to financial independence - if others can do it - I can do it
  • #192
  • Jun 6, 2013 10:12am Jun 6, 2013 10:12am
You need to cut you losses man , get out of GBPUSD and EURUSD they are not turning any day soon , and tomorrow there is non-farm , they will move another 300pips , let alone during the night , you don't want to wake up and will have lost a further £5 trust me , I have been there before .Just take the hit and accept that you were wrong .
  • #193
  • Jun 6, 2013 10:28am Jun 6, 2013 10:28am
Quoting tafadzwa02
You need to cut you losses man , get out of GBPUSD and EURUSD they are not turning any day soon , and tomorrow there is non-farm , they will move another 300pips , let alone during the night , you don't want to wake up and will have lost a further £5 trust me , I have been there before .Just take the hit and accept that you were wrong .
I'll see how it goes in the evening, but to be honwst this method doesn't suit me. traditional choros is much better. this was just a test
On my way to financial independence - if others can do it - I can do it
  • #194
  • Jun 6, 2013 11:03am Jun 6, 2013 11:03am
Quoting Eur Usd
{quote} I'll see how it goes in the evening, but to be honwst this method doesn't suit me. traditional choros is much better. this was just a test

You need to run NOW!!!!
  • #195
  • Jun 6, 2013 11:13am Jun 6, 2013 11:13am
Quoting Eur Usd
{quote} I'll see how it goes in the evening, but to be honwst this method doesn't suit me. traditional choros is much better. this was just a test
Trust me , you are f**cked , this is not coming back for the nxt 5 days , just watch non-farm tomorrow and you will see what I am talking about , you will be 50% down by the end of the week , might as well take 10%
  • #196
  • Jun 6, 2013 11:14am Jun 6, 2013 11:14am
Quoting tafadzwa02
{quote} You need to run NOW!!!!

doesn't look right does it? I prefer trading with proper mm
the point is I have too much on my head now. Both, me and my wife we get crap money of our jobs, nursery eats a lot of cash, and we still rent our house, costs a lot and heating is bad so gas bill was pretty high, besides rent prices are going up in my area. It is time to take mortgage, especially I expect a property bubble after jan/2014 - it all messes in my head. we're in early-mid 30s, and it is time to settle down, not to live in rented house. I think that no bank will even give us mortgage - we will try to get it anyway.
this plus our parents health problems - I am just affraid of the future, and our savings are slowly shrinking.


it all messes in my head. I think I need to talk with my wife seriously - I know I can trade well, what makes me impatient is earning such small amounts - getting 1quid a day is not a reward. I think £500 with my system would be a good start (of course need some more tests), and then my daily target would be 15£ (3%) which looks better than earning 1£ after few hours spent staring in monitor which is boring and teaches me nothing anymore - In this case I'd be better off washing dishes for NMW in some restaurant
On my way to financial independence - if others can do it - I can do it
  • #197
  • Jun 6, 2013 11:18am Jun 6, 2013 11:18am
closed the transactions. I have 10 days to read more, to calm down (playing world of tanks is good for that), to think about my life etc

plus need to prepare written mini business plan to hang above my desk, otherwise I will always suck
On my way to financial independence - if others can do it - I can do it
  • #198
  • Jun 6, 2013 12:14pm Jun 6, 2013 12:14pm
Quoting Eur Usd
{quote} doesn't look right does it? I prefer trading with proper mm the point is I have too much on my head now. Both, me and my wife we get crap money of our jobs, nursery eats a lot of cash, and we still rent our house, costs a lot and heating is bad so gas bill was pretty high, besides rent prices are going up in my area. It is time to take mortgage, especially I expect a property bubble after jan/2014 - it all messes in my head. we're in early-mid 30s, and it is time to settle down, not to live in rented house. I think that no bank will...
I hear you man , I hear you , that's the trouble with this stuff , it needs a clear head .Keep going , you wil be OK one day , and you will reflect on this and laugh .Its a learning phase , it doesn't come easy
  • #199
  • Jun 7, 2013 1:20am Jun 7, 2013 1:20am
Hi EurUsd, It seems that you put a lot of emotions in your trading right now. You make me remember myself some months and years ago after having blown up several accounts.

After having tested dozens of indicators, schemes, plans, nothing worked and finally found that the problem was just me, my emotions, lack of discipline, etc.

Finally, what I did after that was to stop trading, I get months writing an EA and testing it and since two months now it's trading for me. This finally removed all emotions from my trading and now I'm getting back again a clear picture of whats happening.

Here my humble advice :

Describe what are your rules for trading, make a plan with proper MM and if possible write an EA for trading that or at least giving you signals.

If you don't know how to write an EA, I'm a professional programmer and I can help you. I assure you, the time you will spent on this will never be lost and when doing back tests, you will also see if your ideas translate into good results or not, we all know that past performance is not a warranty of future results but backtests are a good indicator to know if something works or not.

I'm here to help if you want, best luck to you.
Simplicity is the Ultimate Sophistication.
  • #200
  • Jun 7, 2013 1:55am Jun 7, 2013 1:55am
thanks for help - what is EA?

regarding to our situation - yesterday I spoke with my wife about our financial future and that I see it in dark colours. She knows how much time I spend on forex stuff and trusts it will get us somewhere someday. I told her that in our situation it is the only way we can start earning some proper cash. We agreed that till end of August I trade with what's left on the account - if it goes well on September we top up account with £500. I proved many times that my system works and gives 30-80% a month and only my mentality was screwing and then I was loosing. I asked her to control me every trading days and to keep me away from trading after gaining daily target.

Somehow I can't see the big picture - I see 3% a day and it makes no difference to acount size, when if you look at it from different angle - 3% a day in 120 days a year (I can trade about 120 days a year) multiplies the account 33 times, and 3% was lowest, I think median when I was trading without silly mistakes was about 6-7% a day.
On my way to financial independence - if others can do it - I can do it
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