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Need suggestion to improve skill

  • #21
  • Jun 12, 2013 5:52am Jun 12, 2013 5:52am
Quoting dancingphil
{quote} EXACTLY right mate. And stimulants like tea and coffee can put us off, just can depressants like alcohol etc. As said, for me walking is something I do to balance the total of what is me. And I don't trade after a huge meal and feel bloated.
I also walk for similar reason. Great minds think alike
  • #22
  • Jun 12, 2013 9:07am Jun 12, 2013 9:07am
Quoting soultrader
simple answer in your case - stop trading after 3 wins and take the rest of the day off

Good stuff mate. That's what I am doing at the moment.
  • #23
  • Jun 12, 2013 1:55pm Jun 12, 2013 1:55pm
Quoting dancingphil
{quote} EXACTLY right mate. And stimulants like tea and coffee can put us off, just as can depressants like alcohol etc. As said, for me walking is something I do to balance the total of what is me. And I don't trade after a huge meal and feel bloated.
Nice exp but wait a minute, you don't drink coffee? so how do you handle your stress, apart from walking?
Believe me, I need anywhere from 4-6 cups to get through a trading day..
  • #24
  • Jun 12, 2013 2:30pm Jun 12, 2013 2:30pm
Quoting Forexnuts
{quote} Nice exp but wait a minute, you don't drink coffee? so how do you handle your stress, apart from walking? Believe me, I need anywhere from 4-6 cups to get through a trading day..
I do enjoy green tea to wake up each day, and it is said to have anti-oxidant and some cancer prevention properties. I haven't drunk coffee in 30 years. Both are stimulants and neither is capable of stress reduction no matter how we kid ourselves.

And consuming anything in a manic way is only reinforcing any sense of trade-related stress. After waking myself with green tea, I then move on to drinking boiled water - which always seemed an odd thing to do until I came to China. Boiled water is very popular with Chinese.

But mostly because I am an opportunistic scalper with very tight and almost always accurate entries (to within a few pips), my trades almost always move quickly into profit, and soon after that to a BE+1 position at 5 pips profit at which time I have quickly achieved a free trade. Counter Trend PA is often quite quick in its retracement.

Not using stop losses, but rather using 100% hedges at minus 10 pips, the worst that can happen to me is getting hedged. And getting out of a hedge profitably is no more difficult than being as accurate as I normally am with my next entry.

I am way past experiencing stress when I trade.

I've been trading with profits on profits for a long time now. That alone gives me a solid sense of well-being and security, because even if I blow up a $200,000 account, that is only some of what I made the previous week. On the rare occasions that I do blow up my account (usually less than 5 times a year), it is almost always for a stupid reason and I laugh about it after the fact.

For example, a couple of months ago I was suddenly struck with a desperate and urgent need to use the toilet at both ends (eg, shit and spew at the same time), and I left a trade without its normal hedge protection before nature took its course in my bed. Shit happens, as they say and I did just make it to the toilet. But for the blown up account that resulted, it was only the loss of a day's trading profit result actually.

It's all relative.
  • #25
  • Jun 12, 2013 3:00pm Jun 12, 2013 3:00pm
You are developing a fan base.

http://www.forexfactory.com/showthread.php?t=432218

I, for one, support you in what you are doing here because no man is happy without a delusion of some kind. Delusions are as necessary to our happiness as realities.

Keep up the good work.
  • #26
  • Jun 13, 2013 12:48am Jun 13, 2013 12:48am
Quoting Mingary
You are developing a fan base. http://www.forexfactory.com/showthread.php?t=432218 I, for one, support you in what you are doing here because no man is happy without a delusion of some kind. Delusions are as necessary to our happiness as realities. Keep up the good work.
Perhaps, and thank you for pointing that out to me, though I doubt I will be joining in on the debate.

I have no idea who Cindyxxxx is as I'm quite sure our paths have never crossed on any post or thread in any facet of Forex trading. In fact I have no idea if it is a guy, a girl or a transvestite.

It was nice of Hanover, who I have met on posts and debated Forex matters, to take the time to point out that I am not a complete Muppet.

Thank you also to PorkPie for the Vouch.

Now did you have something Forex related to contribute here Mingary?
  • #27
  • Jun 13, 2013 2:48am Jun 13, 2013 2:48am
Quoting dancingphil
{quote} Now did you have something Forex related to contribute...
Not to you I don't (:
I stopped paying attention to your "recruitment process" after you mentioned going from $ 200 to $ 50,000,000 trading from your bed...
  • #28
  • Jun 13, 2013 9:16am Jun 13, 2013 9:16am
Quoting Mingary
{quote} Not to you I don't (: I stopped paying attention to your "recruitment process" after you mentioned going from $ 200 to $ 50,000,000 trading from your bed...
In the world of all things great and small, I know that parasites are useful.

Given that I am not something you want feed off of, and that in fact I can't find any evidence that you ever contribute anything Forex related, can I have it in writing or as your committed promise that you will piss off?

Kid, get useful.

Being full of piss and vinegar without substance doesn't work.
  • #29
  • Jun 13, 2013 11:05pm Jun 13, 2013 11:05pm
Hi Phil, Mingray,
Not going to comment on the last few threads for obvious reasons but to be fair, will check out others if they are still up. Moving on, Phil, thanks for the exp and yeah, green tea sounds great and yes, it is chock full of all the anti oxidants. But kinda hooked to coffee at this point and not sure how to give it up..
On the trades, sounds great but having some difficulty accepting the "no stop loss" strategy..
On the trades, any tech indicators or like SL, do you avoid the same?
  • #30
  • Jun 13, 2013 11:44pm Jun 13, 2013 11:44pm
Quoting Forexnuts
Hi Phil, Mingray, Not going to comment on the last few threads for obvious reasons but to be fair, will check out others if they are still up. Moving on, Phil, thanks for the exp and yeah, green tea sounds great and yes, it is chock full of all the anti oxidants. But kinda hooked to coffee at this point and not sure how to give it up.. On the trades, sounds great but having some difficulty accepting the "no stop loss" strategy.. On the trades, any tech indicators or like SL, do you avoid the same?
I use 2 custom indies for all my trading decisions, both entries and exit targets. If your entries are very accurate, then the occasional hedge at -10 pips is easy to get out of at the next reliable entry. Having said that, hedge management is the hardest part of my system to master.
  • #31
  • Jun 14, 2013 8:57am Jun 14, 2013 8:57am
Quoting dancingphil
{quote} In the world of all things great and small, I know that parasites are useful. Given that I am not something you want feed off of, and that in fact I can't find any evidence that you ever contribute anything Forex related, can I have it in writing or as your committed promise that you will piss off? Kid, get useful. Being full of piss and vinegar without substance doesn't work.
Piss and Vinegar? really!

Mind you my mind is boggling to work out how you know if that tastes foul
https://linktr.ee/Soultrader
  • #32
  • Jun 14, 2013 11:28pm Jun 14, 2013 11:28pm
Quoting dancingphil
{quote} I use 2 custom indies for all my trading decisions, both entries and exit targets. If your entries are very accurate, then the occasional hedge at -10 pips is easy to get out of at the next reliable entry. Having said that, hedge management is the hardest part of my system to master.
Yeah, we need to factor that in for every trade..and FWIW, hedge management is not easy for anyone..think futures and options and you'll soon see what I mean..
  • #33
  • Jun 14, 2013 11:34pm Jun 14, 2013 11:34pm
Quoting Forexnuts
{quote} Yeah, we need to factor that in for every trade..and FWIW, hedge management is not easy for anyone..think futures and options and you'll soon see what I mean..
I am completely ignorant of options and futures trading. Although I have heard of call and put options, I have no idea if having equal volumes of both returns to me my free margin or not as it does with Forex.

In any event, Forex is my joy and true love, and for many reasons.
  • #34
  • Edited 4:46am Jun 15, 2013 3:57am | Edited 4:46am
Quoting soultrader
{quote} Piss and Vinegar? really! Mind you my mind is boggling to work out how you know if that tastes foul
I am sure that Mr. Dancing will eventually find people who will send him money.
  • #35
  • Jun 17, 2013 10:48am Jun 17, 2013 10:48am
Try looking it up sometime, even if you do not trade in futures still makes up for some interesting reading. But I get ya, same here, with fx - though JPY has been acting up contrary but that's not new, is it?
  • #36
  • Last Post: Jun 18, 2013 6:30am Jun 18, 2013 6:30am
For improving your trading skills you need to stick to only one strategy on some pairs to master it. If you remain confused on several strategy on many pairs, then its difficult to improve.
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