My mentality - my problem

Forex is a marathon bro.. let make 5% profit for every trades x 5 days per week!
Gud luck and happy trading..

You have to build a longer term view otherwise you will only see the tree and miss the forest behind it.

I have made the calculations for you, if you are able to make 2.5% per week, that is to say 10% per month, in 5 years you could turn 1K into 276K

Not too bad, don't you think so ?

Ask yourself were do you want to be in 2018 ?

Ask yourself how to be consistent and earn those 2.5%

Make a plan and trade your plan...

This was also one of my early in my trading career.
The opposite was being scared of a lot of money being in stake (when the lots grew).
The best way to fight both of these problems was to just focus on pips and pay no attention to money. I have posted in the Choros thread that Excel spreadsheet that gives you the lots according to the risk, so I just used the lot size I was supposed to and only payed attention to pips. Hope this helps. Just convince yourself that you are in trading for the long run, not make a quick buck......

Thanks kostas and everybody else who contribute to this thread and try to help me - I appreciate your help - thanks all

True - I was doing calculations like that and I was amazed with where I can be even i 2-3 years. somehow I am impatient sometimes. It's getting better, but sometimes it still catches me. I am writing some stuff for myself like rules of trading, some wise words to read before trading and a check list of what needs to be done on beginning of trading day and what to pay attention for before opening trade.

I have one more problem - I noticed that I can sit and waste my time at computer all day long day after day. I will go out only to gym, shop or with my Son. I don't know if it is addiction to computer of just pure laziness

about today's trades.
I had to take care of my Son and to take him to doctor, so it was messing a bit, and caused some losses
I did 7.6% profit in total, but am not happy in 100% as I broke (bent?) the rules.
I had 3 losess and was going to stop if something will go wrong. was at 1% profit at 12pm, but went into trade that started going against me. as I trust the system I moved s/l far, behind 35sma/50ema line - which was big mistake but I had to take care of my son so couldn't trade more carefully. then I did another mistake - at the touch of 35/50 I opened 2 positions - not one - I trust the system and knew it should be fine, but it could turn against me as well. In general I am happy with the profit but not proud as I broke discipline a bit.
More about my today's trades here: http://www.forexfactory.com/showthre...01#post6779601

We really don't want to know your life story , just make money on a live account and get on with it

I already told you. I need to master discipline on demo - sick of loosing money on real account, even if it were small amounts - if all goes well in September I'll get back to real account

This thread is more than a year now with same story. You better find something else to do. How can you tell me you want to master discipline on demo and everytime you flaw the rule. You never a trading plan in the first place. You know all your setups. Trade only your setup and do it over and over and over again for just a month and look at the results. Any trade that is not part of your setup is basically gambling and not a trade. You have one good setup yesterday which was perfect. Repeat this over a period of time. you have to be very patience man.

Hi

It's not over a year old, it's 4 months old, but you're right - I suck ;-) it's not that easy

pity my wife can't understand that we won't be living of vacum cleening of our rented house or of cooking soup/washing dishes. distracts me cause she needs help. we'll die as poor people. fuck it am sick of trading like that
My aim was to trade 6:30 till 12 and that's it, but it's probably too much

Hey Eur_Usd,

I don't teach or take on people to teach because frankly I'm a trader not a teacher and I enjoy my time for my family.. however here's some things I can see or pointers I'll share with you.

1. You have perseverance. This is a good trait but like anything, it must be wielded properly and not allowed to control you.

2. You have good intentions. No pun intended to the readers or posters here, but most of the guys in FF are NOT the guys you should be learning from..they are just like you... I believe I qualify as someone who's been able to get some success out of trading (refer to signature below). For the others reading this post.. no guys.. I'm not going to get into an argument or discuss my system or results.. waste of time and I get no benefit in justifying anything.. I don't have to.. you all have your own opinions and I respect you all enough to leave it at that about my trading results below on one of my accounts.

3. You may have a profitable strategy and you blame your discipline as the problem... but your real problem is that the strategy (or the way you are currently trading), does not suit your personality. This is important, you might want to read that again. To give you an example, I get too worked up watching my charts whilst I know other traders who can't trade any other way other than watching the 1-3-5 mins candles. So for me, I can probably trade their strategy but I will personally sabotage myself because I'm not comfortable with it. So for me, I average 1 or 2 trades a day and that's about it.. most of the time my pending orders are activated and Take profit is reached when I"m asleep or watching TV or spending time with the family. I'm at peace with my wins and my losses because it's all part of the game. You will need to understand yourself first before you continue.. demo or live doesn't matter.

4. You must learn that Investing in anything, specially forex, is not about profiting, it's about CAPITAL PRESERVATION first then profiting second. If you trade well then you will find that this the reason why your account balance keeps going up and up.

5. DO NOT set yourself any performance (Pip or $$) targets. Take what the market gives you. Swing trading may be good but going with the trend is easier.

6. Finally, I think this post is distracting you.. there are some critical people here and unfortunately that criticism is not constructive. Whilst I believe that those who have written on this post has good intentions for you. I think it is distracting you as you are engaging some of these feed backs that may not be what you are looking for. This is just me being honest here.. no pun intended...

Hope that all makes sense and helps you along your way... oh by the way, some people may laugh at this. But when you do your LIVE account. start with a micro $50 account and use a leverage of 1:200 then trade 0.01 lots for every $50-$100... now it may be tempting to load it up with your full $500.. but don't do it until you have turned $50 into $200.. then add $300 to bring it to $500. It will take months and it will test your patience... but as you get in the groove of your strategy that matches your personality.. you could potentially make a second income out of forex or more.. but it will take time.

For those thinking... What?!.. $50??? to $200.... guys check out my results.. it can be done but it's not an easy ride. One of the guys I know did this at the beginning back in 2011.. $50 to $350 in 2 months then the rest is history...

Good luck and remember to be CHILLAXED when you're trading... never ever ever ever trade like as if your life depended on it... because you will fail 95% of the time. Yes you will fail.. you might as well pay pal the money to my account or donate it if you ever trade like that because it will end up as someone else's profit for sure!

OH.. you don't suck! you just haven't found a strategy that matches your personality... don't ever say you suck because that's half the battle bro!

true. I feel that it affects me, plus revealed explorer makes me want to show off and to prove how good (or bad ) I am and it makes me go down. I'll stop posting here and will hide my explorer. Will also get back to real account and will top it up to 50Pounds. We'll see

Thanks all for your support ;-)

I think I am giving up on trading. I know all in theory but cannot use it in practise
time to move on - need to think what to do.
thanks all for your kind advices

Good Luck

i know exactly how you feel.... i started trading in the desperation to make more money like everyone else... i was working all the hours under the sun on salary - no OT pay... so i resorted to trading which made things much worse cause of desperation... then i changed jobs and started earning decently but traded more bigger lots and same crappy results...

then i stepped back... decided my career is more important than trading - trading is 2nd and now i treat it as such so i am less eager to trade, don't dream about pips no more... less trades and smaller ones.. now i got money in the bank and can enjoy life again (not from trading) - being detached from trading is the key and making sure you aren't hurting your life financially...

if it is little money you are trading and you are not seeing any worth in it then do the obvious - don't waste your time trading and get on with your life

from now on I will do it right. I screwed again. I am going back on demo. I will stick to demo for 3 months if profitable, longer if it will be needed. I need to see 3 months of profit with discipline. then, and only then I will master my discipline, as discipline is the key.
explorer is public again, if you'll see I do mistakes, laugh at me, swear at me, insult me - I won't grass you

the demo starts from amount of real money I have in my live account (I started from 518 and max was 573). I want to trade only with discipline, to master it and to prove myself that with discipline I will at least double it in 3 months.
the sl/tp ratio will be depending on situation 10:50 pips or 20:50 pips with max around 2% risk (at 20pips)
entries according to the choros/dance rules, positions stopped manually when price hesitates or s/l moved to be+3
3 main pairs:
EUR/USD
EUR/JPY (the bitch)
EUR/AUD
other pairs will be added only when I'll see bull/bear market.

Will try to post explanation of my trades, those good and those bad as well
I'm off to gym today, so I'll start probably tomorrow

the point is that I never did it right. I was doing well for short periods of time and then greed was loosing me. once I trade one position which is about 30% of my account it's fine. the loss is not so huge, 1-2% and the profits compensate it (I had 60-80% good trades in tests, but never longer than 3 months, max was 2.5 month, and it ended like always). the point is that after some time I feel too confident, and I trade 2-3 standard positions - I am so sure I will win. and then it works and I win nice cash, catching 20 pips this way gives about 7% profit, so I do it again and once trade turns bad way it's hard to loose so much, so I move s/l, or take a loss, or take a loss after moving s/l - a loss is about 10% lets say. so it's time to get it back, of course as fast as possible, today, now. time for another bet (at this point it's not a trade anymore, it's bet, gambling) and it pulls me down even more, so it's time for another revenge and so on and after few looses self confidence is at the very bottom. this time I am going to post all my trades, with explanations why I got into trade and why I got out, chart showing entry and exit, and so on. and ALWAYS trading 1 position on one pair, and 2 pairs maximum. even if Japan will be bombed with 10 nukes, plus will have an earthquake, tsunami and massive diarrhoea - I will trade only one position - this is the key, if viewers will see I trade more, they can spit me straight into face. before I thought that explorer shown for all was good for me, as I was getting into show off mode, doing mistakes mentioned above to impress others - this time explorer will work for me, not against me.
also no trading at work - this one is stupid. really. when I trade at work I cannot watch oanda's chart - it's port is blocked. so I can trade only on page designed for older mobile phones, and it shows only basic info, current rates, your loss or profit in cash and pips - to view charts I have to go on ff and they are without my indicators - it looses me same way like all above. it will work once or twice and then I suck big style.
so this one hopefully will work.
also will put more effort into learning PA. this thread is great http://www.forexfactory.com/showthread.php?t=2331
after all the James 16 moved onto private page, and I cannot afford to go there as the cost is over 100$ a month, but still the thread on ff is good.
I need to work on myself - If discipline will get into my habit - I will move onto live again, but not before 3 months passes

Now u r on the right track

ok, first trade: reason for entry was touch of 10ema (green circle), exit after s/l was hit (red circle).
I think the reason of fail were flat 35sma/50ema, I forced the trade a bit. now, I'll sit on my ass and will keep waiting for better signal

Hi EurUsd,

I see you are desperate and forcing too much pressure on you. Relax.

My best wishes.

I am I am afraid. I need to mentally recover ;-)