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  • #41,881
  • Aug 8, 2013 9:29pm Aug 8, 2013 9:29pm
on lookout for boj response.
they already took some punches.
Get feel that there may be response plan soon.
maybe they waiting see how far some peeps may like push it.



regards
  • #41,882
  • Aug 8, 2013 10:13pm Aug 8, 2013 10:13pm
Quoting tashkent
{quote} as long as people with that kind of mindset, there will always be poor, begging for a piece of bread. hatred , disrespect, negligence of the rich is the core of all problems of humanity. being rich, powerful and independent is GOOD. being poor, dependable and weak is BAD. the philosophy of life is that SIMPLE.

I beg to differ sir. It's the lazy and the entitlement thinking that produces the kind that beg and hate. I am not lazy. I will not take charity and i do not have any problem with the rich. Many of the people I call friends are very wealthy people. They actually encourage others to do the same, when they are willing to do something to get there. It's those that do nothing that envy the rich that worked for what they have that are the problem. Also those that are in high places that prey on the poor cause the problem at the expense of the rest of us that do the work. It's a long explanation, so I will spare you the details. The poor remain poor because they choose to do so.
I choose not too. I have owned 2 successful businesses and have studied trading for several years. i also work every day at one business and am working on another business as well. So you really think that my mindset is the problem? I still had a much more pleasurable life when it was simple and I had little money.
  • #41,883
  • Aug 8, 2013 10:17pm Aug 8, 2013 10:17pm
Quoting tubguy
{quote} I beg to differ sir. It's the lazy and the entitlement thinking that produces the kind that beg and hate. I am not lazy. I will not take charity and i do not have any problem with the rich. Many of the people I call friends are very wealthy people. They actually encourage others to do the same, when they are willing to do something to get there. It's those that do nothing that envy the rich that worked for what they have that are the problem. Also those that are in high places that prey on the poor cause the problem at the expense of the...
looks like i misunderstood you Tubguy (is this something like tube baby? )
my apologies.
As Above, So Below
  • #41,884
  • Aug 8, 2013 10:17pm Aug 8, 2013 10:17pm
Quoting fti
on lookout for boj response. they already took some punches. Get feel that there may be response plan soon. maybe they waiting see how far some peeps may like push it. regards
looks like U/J is coiling up for something. getting tighter by the minute. I may have to stay and play. Depends on my tiredness factor. LOL.

Getting close to bedtime here.
  • #41,885
  • Aug 8, 2013 10:22pm Aug 8, 2013 10:22pm
Quoting tashkent
{quote} as long as people with that kind of mindset, there will always be poor, begging for a piece of bread. hatred , disrespect, negligence of the rich is the core of all problems of humanity. being rich, powerful and independent is GOOD. being poor, dependable and weak is BAD. the philosophy of life is that SIMPLE.
Hey, sharp new blood!
Greetings from me (another newbie trading age 1 year old).
  • #41,886
  • Aug 9, 2013 3:15am Aug 9, 2013 3:15am
Quoting tashkent
{quote} looks like i misunderstood you Tubguy (is this something like tube baby? ) my apologies.
Nah, I refinish bathtubs and countertops as one of the business's. No worries. Easy to mistake the written word sometimes. Especially when I'm the one writing.
  • #41,887
  • Edited 11:44am Aug 9, 2013 11:06am | Edited 11:44am

deep long sleeps.

everybody begs.
God knows, i would think.

We all have needs.
To me, there 2 type beggers.
i am the 1st type.
I beg, then i wait patiently , while doing all i can towards what i beg for with kindness and
sometimes never comes. appreciates whats being given.

then the other type beggers, this i detest.
They beg with ego.
they beg, then expect that they deserves,
do evils use law and cunning to corner others to give,
problem is they not feel they evil. its their nature.

regards

i can feel those types mostly from my response to them.
become a beast , same as them in response to them.
when i feel the unease, then i knows.
some peeps not understand when their needs had been given exceeeding.


reminds me of some incidents.
ilike tell about 1.
I used to travel lots.
usually leaves some moneys behind for those that help clean up my rooms.
There was a time, i left a nice 100 on the side table, was my appreciation of good work.
When i cme back to room, money was still there after they cleaned the room.
I called the manager and ask.
He explained that they didn't take it, because it was too much and would tentamount to stealing if they took it.
exceeding what was necessary. She highlighted to me, about spoiling their expectations.
  • #41,888
  • Aug 9, 2013 2:10pm Aug 9, 2013 2:10pm
Dear fti, girls and guys,

first let me thank you all for this precious thread, I have been around for months, your conversation gave and still gives me plenty of excellent stuff.
I would like to take part in it, not only to take my share. I am a very beginner, have been trading for a year, got a small real account sum blown up, due no MO, no MM etc.
I looked for information for getting better but I have never found a thread so... how do I express it? So close to my heart as this one. You all helped my to change my view, I do not only mean trading, I mean life.
I began to see and hear, the information here shared is priceless, one becomes aware that trading is like anything else a question of the right mindset first. I loved all the storys, Sun Tzu was an eye opener.
I used to not appreciate voices before that said trading was all about mindset, I thought they just would not share the "right" information. I was very wrong.
I wanted them to say what I wanted to hear, that is it. That is the point.
Now I have been managing a demo account, I do babysit all my trades and try to keep in mind what I have learned here so far and use my experience, and what... It can be enjoyable. Since I do not want to predict "what will happen" (it was the hardest part and sometimes it is nowadays too) but try to be the river, well, it works. So much as introducing myself in a nutshell.

I wondered what it means to have a rigid mind. I mean, how do you know when it is rigid? And how can I open it? Can I see things as they are? Does rigidity come from wearing glasses made out of our (often false) opinions? I guess we can never say we see the world as it is, because the world is in us, seems to be clear. But how does one know if one sees the things, relations, the so called world "right"? I think the only way to feel it to test whether it works or not. In another words: does it take you closer to your heart or does get you away from it? How do you know? Just listen.
I was a guy who adapted norms but never listened to himself. I rarely listened to my heart, rarely thought of it as an option when making choices. I used my mind (I would say today my opinions instead my mind) and I was somehow uneasy most of the time but I did not know why.
You taught me to be myself and open my eyes.
My english is broken but I hope it is not much disturbing.

I wish you all a nice weekend and once more, thank you all and especially fti for sharing his thoughts.
  • #41,889
  • Aug 9, 2013 3:23pm Aug 9, 2013 3:23pm
Quoting fti
deep long sleeps. everybody begs. God knows, i would think. We all have needs. To me, there 2 type beggers. i am the 1st type. I beg, then i wait patiently , while doing all i can towards what i beg for with kindness and sometimes never comes. appreciates whats being given. then the other type beggers, this i detest. They beg with ego. they beg, then expect that they deserves, do evils use law and cunning to corner others to give, problem is they not feel they evil. its their nature. regards i can feel those types mostly from my response...
uncertainty is the reality,religion,technical analysis,fundamental analysis etc etc, provide u with conviction to act in the world with a sense of empowerment.that way submit to the will of God,[read,accept what comes ur way and be grateful]is the only reasonable way to live life and act.wa salaam.
Allah has permitted trade and has forbidden interest [koran]
  • #41,890
  • Aug 9, 2013 7:22pm Aug 9, 2013 7:22pm
Greetings, Grownupchild, my fellow newbie.
Rigid mind is the believe of what's right and what's wrong. There is no right or wrong when comes to market, Big money can push it to wherever they feel happy. We can only manage what we have control of - our own risk. Like fti once said: "chart only gives you confidence to do or die." (My take on his words). If you die, you die. Don't blame the market, because market does not care about your chart.
  • #41,891
  • Aug 9, 2013 8:10pm Aug 9, 2013 8:10pm
Quoting pipfarming
Greetings, Grownupchild, my fellow newbie. Rigid mind is the believe of what's right and what's wrong. There is no right or wrong when comes to market, Big money can push it to wherever they feel happy. We can only manage what we have control of - our own risk. Like fti once said: "chart only gives you confidence to do or die." (My take on his words). If you die, you die. Don't blame the market, because market does not care about your chart.
a rigid mind hangs onto a belief that they are right when the market shows them different. You must flow.
  • #41,892
  • Aug 9, 2013 11:06pm Aug 9, 2013 11:06pm
Read this today. i liked it, so I thought I would post it here for what it is worth.

Some time ago, an American reporter traveled to Tibet to interview
a wise old Zen master. When the two sat down for tea, instead of letting
the Zen master do the talking, the reporter began to brag about all the
things he knew about life!
The guy ranted on and on while the master poured the reporter’s
tea. As he endlessly babbled, the tea quickly rose to the rim of his cup
and began spilling all over the floor. The reporter finally stopped yak-
king and said with surprise, “What are you doing? You can’t pour in
any more! The cup is overflowing!”
“Yes,” responded the wise master. “This teacup, like your mind, is
so full of ideas that there is no room for new information. You must first
empty your head before any new knowledge can enter.”
  • #41,893
  • Edited 6:09am Aug 10, 2013 5:58am | Edited 6:09am
Hi Friends,

I would like to ask you for an advice and lesson how to deal such situation in future. I've been trading some time ago as amateur starting from 2010 and finished in the end of 2011 as my primary job was exhausting and couldnt spent more time on FX. Now i'm back with target of 10% each month which seems very easy. I learnt a lot of from FTI's thread (FTI - i will be always thankful for your effort put into this thread - you made my eyes wide open into FX market and personal life).

So, i was almost 10% up in just one week trading with small ECN account with small leverage - target almost reached. My account is almost 2000$ so i dont put more in one trade than 0.1lot (10000) until i reach full 2000$ to have 1:10 leverage. As i worked on my own MM and backed up by FTI's methodology i know how important is to have some margin to send scouts in rescue mode.


Here's the situation:
I placed position on 1.3340 hoping to go down for just 10pips (scalp mode) but it didnt want to go nowhere, then i added next position manually same level to get 2x 5pips and go out, as PA was very slow. It didn't work out and price went 20pips high. I placed 2 more scouts hoping to get to level 1.3340 and get out with all 4 positions. 2x 20pips @ 0.1lot each and get out on b/e from 2 positions on 1.3340. I would be still on plus and happy. I couldn't affor to enter 0.4lot position following FTIs methodology of rescue, as my account is too small. I was unlucky and price went up another 20 and then another 10 pips higher. I was deep under the water, but i knew that this move in price is quite rapid and to move higher it needs give back some movement. I was hoping to get back to 1.3360 so i placed another "rescue" or even now "snowballer" to the chart @ 1.3390. As i was now really afraid of having too large exposure in comparision to my account i couldnt afford more what i regret. Price didnt want to move anywhere 3390 - 3380 and stuck in the range. I was getting desperate and emotion took over me.


Here how it looked like:


http://www.picshot.pl/pfiles/360235/in_doubt.jpg

(http://www.picshot.pl/public/view/full/360235)


So i looked on the chart again and said to myself: if i get out @ 1.3360 before next move up (as PA on H1 was showing only HH, HL ) i will quit with small lost. That was plan and i set all orders to be closed @ 1.33605. I was at work checking each 30minutes what's happening.... as PA was slow i was getting all nervous. Finally it started to move down... slowly and then it accelerated. I was so happy to get out of my positions at almost b/e, 2 on loss and i decided to wait with two position 5 minutes more. So i moved TP to 1.3355 for two transactions from 1.3390 & 1.3360 as greed came in. I closed both on 1.3355 with happines and regret that i should have closed other on 1.3355. Then i just watched how price declined to my original level at 1.3340... i was really angry on myself. Please take a look:


http://www.picshot.pl/pfiles/360236/after.jpg
http://www.picshot.pl/public/view/full/360236



It is another situation, that i knew (felt) well the price will hold but i was too scared, impatient and i closed too early. I was scared that i got a change to get out any my greed would put my deep under the water. THat's why i escaped all positions too early. My inner voice was again right and my fear again made me quick too early with loss. I could have profit instead taking small loss.


Could you please advise me how to stick to original plan and dont move anything? How to switch off emotions how to switch off fear ? How to switch on PATIENCE?

Many thanks and the best greetings to you all
  • #41,894
  • Aug 10, 2013 8:46am Aug 10, 2013 8:46am
Quoting mario83
Hi Friends, I would like to ask you for an advice and lesson how to deal such situation in future. I've been trading some time ago as amateur starting from 2010 and finished in the end of 2011 as my primary job was exhausting and couldnt spent more time on FX. Now i'm back with target of 10% each month which seems very easy. I learnt a lot of from FTI's thread (FTI - i will be always thankful for your effort put into this thread - you made my eyes wide open into FX market and personal life). So, i was almost 10% up in just one week trading with...
the following is not an advice. just my opinion.
your chart is a very good example for fallacy of TA.
you took shorts, they do not look too bad actually. but it was against the trend though. anyway, i see the rescue attempt little concerning. it was too soon. and you kept repeating this, instead of killing the scout after your rescue failed. i would wait for at least 50 pips to send the first rescue and with at least x5 troops.
but the main question is should you have waited more? you would be all in green, right?
did you know that at that time that price will come down to your original entry? NO
was there a possibility it would make another high, leaving you in more pain? YES.
I would say you made a bad decision had you gone into future, saw the price and than came back to present and still decided to close your shorts.

there is a time when trader must draw a line on the sand.
your were wrong when took a position. you have to be always glad to cut the loss or exit at BE.
what you are saying is, actually GREED to me.
you were wrong 4 times, in deep red, you almost got out at BE. this is the MOST important thing.
do not let greed play with your mind.
As Above, So Below
  • #41,895
  • Aug 10, 2013 8:56am Aug 10, 2013 8:56am
Quoting fti
on lookout for boj response. they already took some punches. Get feel that there may be response plan soon. maybe they waiting see how far some peeps may like push it. regards
Please discuss about next trades. what will happen next week any idea?
  • #41,896
  • Aug 10, 2013 8:56am Aug 10, 2013 8:56am
Quoting tashkent
{quote} the following is not an advice. just my opinion. your chart is a very good example for fallacy of TA. you took shorts, they do not look too bad actually. but it was against the trend though. anyway, i see the rescue attempt little concerning. it was too soon. and you kept repeating this, instead of killing the scout after your rescue failed. i would wait for at least 50 pips to send the first rescue and with at least x5 troops. but the main question is should you have waited more? you would be all in green, right? did you know that at that...
Please discuss about next trades. what will happen next week any idea
  • #41,897
  • Aug 10, 2013 9:40am Aug 10, 2013 9:40am
Quoting tashkent
{quote} the following is not an advice. just my opinion. your chart is a very good example for fallacy of TA. you took shorts, they do not look too bad actually. but it was against the trend though. anyway, i see the rescue attempt little concerning. it was too soon. and you kept repeating this, instead of killing the scout after your rescue failed. i would wait for at least 50 pips to send the first rescue and with at least x5 troops. but the main question is should you have waited more? you would be all in green, right? did you know that at that...
thank you for your comment Tashkent.

Could you please explain what did you mean by:
Quote
I would say you made a bad decision had you gone into future, saw the price and than came back to present and still decided to close your shorts.

Of course i'm really happy that i got out of that bad trade almost at b/e. I was around -160pips overall under water and finished with around -15pips. Of course, it's greed that is saying "i should have kept" etc. but i see that i have a problem with holding position in profit. This time i was under water and could have ended better, but i was not able to hold position longer, becasue i felt relief after getting to B/E point. Same situation happens when position in profit for 20-30 pips and original target was let's say 60pips but i was too afraid to hold position longer. I was fine to close it after 20-30pips but if only i stayed to original plan i would get more. I know, i should be always thankful for getting green pips, but i'd be more happy to be consistent with my trading plan (trade/position plan), as more than 50% of my trades are correct.

As you could see from my above trades, I play without SL and knowing market moves you can get a chance to get out @ B/E or in profit from bad trades as well. This is something FTI taught us here and it really works. I was EURUSD short biased that's why i believed so much in short positions. 3360 was good level but it occurred that bulls movement was that strong that next level 1.34 was something that could stop them.
  • #41,898
  • Aug 10, 2013 9:41am Aug 10, 2013 9:41am
Hi Mario83
what i say is my thoughts only and not professional advice just want to share what i think on your post.
I think that every situation you will have to deal will be different untill you experienced enough and seen many different things.
I think that with experience you will know what to do.
You use very much word "hope","unlucky","realy affraid","regret","angry"
The meaning i think that you play with too much emotions
Never Hope read this link and this link
"Felt" is a good think it is a hunch i think everybody have to have hunch. But you exposed yourself to the level that you was afraid.
the first rule is preservation of capital think that have happened if price still was going up what you will do ?
When you will say enough?
Think that next time the price first go another leg up and then down after you closed. It would be more frustrating.
There in no switch for patience it have to come to you and it will come just after enough experience you will see
that if you waited enough in most fights you will be saved and then PATIENCE will be switched
When you have to rescue i think you number one priority is bring back troops =aka break even
and then if you want open scout and continue from there.

You added and said "it didnt want to go nowhere" if it didnt go nowhere on the same level why to add? Here is link for you about adding to position
and this link
When you say you couldnt afford to add 0.4 then you have to play with smaller sizes.
Not every time first rescue can help you. and if the rescue is the same size as a position you need at least halp position back in order to be at break even.
I agree with Tashkent's post just that rescue have to be in place that you feel price reversing and not rigid 50 pips.
You never know where price will go the only think you can be sure that the price dont move in straight lines.

Thats my two cents
regards
Michael










Quoting mario83
Hi Friends, I would like to ask you for an advice and lesson how to deal such situation in future. I've been trading some time ago as amateur starting from 2010 and finished in the end of 2011 as my primary job was exhausting and couldnt spent more time on FX. Now i'm back with target of 10% each month which seems very easy. I learnt a lot of from FTI's thread (FTI - i will be always thankful for your effort put into this thread - you made my eyes wide open into FX market and personal life). So, i was almost 10% up in just one week trading with...
Do not be victim to conflict of the General and Commander in you - by FTI
  • #41,899
  • Aug 10, 2013 10:03am Aug 10, 2013 10:03am
Quoting mario83
{quote} thank you for your comment Tashkent. Could you please explain what did you mean by: {quote} Of course i'm really happy that i got out of that bad trade almost at b/e. I was around -160pips overall under water and finished with around -15pips. Of course, it's greed that is saying "i should have kept" etc. but i see that i have a problem with holding position in profit. This time i was under water and could have ended better, but i was not able to hold position longer, becasue i felt relief after getting to B/E point. Same situation happens...
my point is clear and loud. you did not know and will never know where price will be next second, minute, hour etc.
if price kept going up after a small retracement, no doubt you would now be regretting why you did not get out when you had a chance to cut the losses. this is how greed plays with your mind.
if there is only one lesson to learn here, is one never should let his positions bleed that much.
using word PATIENCE has more to do with holding onto a winning position to extend profit, rather than holding onto positions which are bleeding deep red.
As Above, So Below
  • #41,900
  • Aug 10, 2013 10:18am Aug 10, 2013 10:18am
Quoting tashkent
{quote} my point is clear and loud. you did not know and will never know where price will be next second, minute, hour etc. if price kept going up after a small retracement, no doubt you would now be regretting why you did not get out when you had a chance to cut the losses. this is how greed plays with your mind. if there is only one lesson to learn here, is one never should let his positions bleed that much. using word PATIENCE has more to do with holding onto a winning position to extend profit, rather than holding onto positions which are bleeding...
Tashkent i Agree with you
But Byte the bulet or commit in rescue is very tricky subject
Wrong Entrance
surrender or not

"If you can afford the lost , bite the bullet"
Regards
Michael
Do not be victim to conflict of the General and Commander in you - by FTI
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