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My mentality - my problem

  • #361
  • Aug 22, 2013 4:00am Aug 22, 2013 4:00am
Quoting MidnightRun
{quote} Resistance at 131 you mean?

yes, I'll correct it, have a headache today
On my way to financial independence - if others can do it - I can do it
  • #362
  • Aug 22, 2013 4:12am Aug 22, 2013 4:12am
Your mentality cannot let a winner run, but can let a loser run or the lack of patience. I saw your EJ trade earlier and its TP, but an hour later I cannot believed you close it not even close to your TP.

Just my observation.
Fear prevent possibilities, and so does Greed
  • #363
  • Aug 22, 2013 4:22am Aug 22, 2013 4:22am
Quoting xtrader101
Your mentality cannot let a winner run, but can let a loser run or the lack of patience. I saw your EJ trade earlier and its TP, but an hour later I cannot believed you close it not even close to your TP. Just my observation.
it will be winner, but I was trailing it with s/l, till moment when it stopped and started sliding down. EJ is a bitch and I've seen run down of 600 pips a day on it. I prefer to grab just part of move than loose it. my strategy is based on tight s/l and It seems that the price may slide down to 10ema again before it goes up. and last but not least - I am at home with my son so I play with him and have no time to stare at monitor
On my way to financial independence - if others can do it - I can do it
  • #364
  • Aug 22, 2013 12:29pm Aug 22, 2013 12:29pm
this one took a while. It semed that 131.30 is good support (in general areas of xxx.30 and xxx.80 in case of EJ seem to be good resistance and support areas, not sure why) so after price moved away 10 pips I made one entry, then when it got back to 131.30 I got in another time. I will just mention that once it closed me by s/l when I went to town and left pretty wide s/l.
I was in the trade for hours, It looked to me that there is strong resistance, but If you take a look at violet triangle I drew it suggests the price will go up, to at least 131.90 (length of first bar), the first bar is longer pin like (with wicks) rest are inside bars for some time except one that slightly went out, so it suggests the price will go up, but as the bars were slightly going down I preferred to shut it just in case, so I got 60 pips of it (besides I cannot stay all day at computer, I need to play with my son as well). now when I white it it seems like the price is getting just above 131.70 but still hesitates, so who knows. on the other hand there is long constrainment around 10ema area, so probably will still go up, possibly to 132.70 as mentioned earlier today, so far it got to the point which I mentioned as more probable

anyway good day today:
5 trades, 2 losers, 3 winners, 62 pips gained with 6.9% profit.
I knew it will go up (see my previous analysis) but still need to think how to sort out the s/l it closes me to often
won't trade till Monday evening probably
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On my way to financial independence - if others can do it - I can do it
  • #365
  • Aug 22, 2013 12:36pm Aug 22, 2013 12:36pm
I ve been reading about price action recently - really helps with trading choros/dance. small book/script that shows only the most important price action elements, without long descriptions - long reading makes me bored and I can;t focus
On my way to financial independence - if others can do it - I can do it
  • #366
  • Aug 22, 2013 12:56pm Aug 22, 2013 12:56pm
As long as you are trading DEMO , you are not gaining anything
  • #367
  • Aug 22, 2013 1:06pm Aug 22, 2013 1:06pm
Quoting tafadzwa02
As long as you are trading DEMO , you are not gaining anything

I am gaining knowledge, experience and proper trading attitude. If I get good trading habits they will work same on live account.
On my way to financial independence - if others can do it - I can do it
  • #368
  • Aug 22, 2013 1:56pm Aug 22, 2013 1:56pm
Demo?

Quoting Eur Usd
{quote} I am gaining knowledge, experience and proper trading attitude. If I get good trading habits they will work same on live account.
All this get washed away when you go live. Only instincts and guts cloaked in unconsciously misguided intellectual analysis remains'
... only then do you really learn
  • #369
  • Aug 22, 2013 2:20pm Aug 22, 2013 2:20pm
Quoting Mingary
Demo? {quote} All this get washed away when you go live. Only instincts and guts cloaked in unconsciously misguided intellectual analysis remains' ... only then do you really learn
I know what I am doing. besides I do it according to james 16 group advices - do you want to tell me that you know better than them?
where is your thread with pa and trading?
On my way to financial independence - if others can do it - I can do it
  • #370
  • Aug 22, 2013 2:25pm Aug 22, 2013 2:25pm
Quoting Eur Usd
{quote} I know what I am doing. besides I do it according to james 16 group advices - do you want to tell me that you know better than them? where is your thread with pa and trading?
James 16 is a scammy scam scam.. (:
I have my own thread but you should not have a look.
I should be on everyone's ignore list.
  • #371
  • Aug 22, 2013 2:29pm Aug 22, 2013 2:29pm
besides mentally I don't feel ready to trade live yet. I'm still mentally recovering after disappointment. I need to get back my self confidence. rest is in the thread, don't want to repeat it over and over again. and james16 is not scum, choros/dance that I trade is based on james16
On my way to financial independence - if others can do it - I can do it
  • #372
  • Aug 22, 2013 2:40pm Aug 22, 2013 2:40pm
I took another one, because I've spotted opportunity.
Bar previous before blue circle did touch 35sma and rapidly run away, so did enter at blue circle, I got out after gaining 14 pips. I should stay longer as the formation in yellow circle is classic pinocchio (imo) and will still go up (probably ;-) edit: it did go up

8,5% gained today, and self confidence slowly restores. Probably won't trade real account till end of the year anyway. my target/goal/dream is doing 100% profit every 3 months - I know it's possible as once I did 100% in a single month, I also did 80% so 100% in my case is possible if I keep to 3% profit a day on average
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On my way to financial independence - if others can do it - I can do it
  • #373
  • Aug 22, 2013 6:46pm Aug 22, 2013 6:46pm
You can probably teach yourself good trading habits in a demo account, but you can NEVER teach yourself how to handle the emotions of greed and fear.

How about this for a suggestion, fund your live account the same amount as in the demo account. Use MT4i personal trade copier to send trades from your demo to your live account.

If $300 is an amount you cannot afford to loss as part of your education, then trading is not for you buddy.

Just a thought.
Fear prevent possibilities, and so does Greed
  • #374
  • Aug 22, 2013 7:00pm Aug 22, 2013 7:00pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting xtrader101
You can probably teach yourself good trading habits in a demo account, but you can NEVER teach yourself how to handle the emotions of greed and fear.
This was told him many times since the beginning of this thread ... but he still believe that emotional part can be mastered on demo ... which is 100% wrong.

Eur_Usd, please don't take this wrong ... but you should be very carefull.
MT4/MT5 EAs/Indicators/Alerts coder
  • #375
  • Aug 22, 2013 9:19pm Aug 22, 2013 9:19pm
Quoting Eur Usd
My target/goal/dream is doing 100% profit every 3 months - I know it's possible as once I did 100% in a single month, I also did 80% so 100% in my case is possible if I keep to 3% profit a day on average {image}
This unrealistic goal/dream of yours is setting you up for a failure. You can get 100% in a month, sure, but the BIG question is, are you able to sustain it? Like you said, you achieved 100% before, kudos, but looked where you're at now? back to DEMO.
Fear prevent possibilities, and so does Greed
  • #376
  • Aug 22, 2013 10:51pm Aug 22, 2013 10:51pm
ok guys, thanks for your suggestions, but I will not discuss sense of running demo account again. I know what bad habits I have to fight and what I need to learn. I will get there
On my way to financial independence - if others can do it - I can do it
  • #377
  • Aug 24, 2013 4:32am Aug 24, 2013 4:32am
Hello

I have an offer for all traders that keep loosing and keep clearing their fx accounts, and after it they topup their accounts again, just to loose it all, over and over again.
Why don't you contact me via skype, pay some money into my account and bet on my roulette?
You'll tell me how much you want to bet, and which number you choose - and I will spin the wheel, If you loose I take your money, If you win..... you'll loose it anyway - only accounts above 1000$ will be considered

On my way to financial independence - if others can do it - I can do it
  • #378
  • Aug 24, 2013 4:41am Aug 24, 2013 4:41am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Eur Usd
Hello I have an offer for all traders that keep loosing and keep clearing their fx accounts, and after it they topup their accounts again, just to loose it all, over and over again. Why don't you contact me via skype, pay some money into my account and bet on my roulette? You'll tell me how much you want to bet, and which number you choose - and I will spin the wheel, If you loose I take your money, If you win..... you'll loose it anyway - only accounts above 1000$ will be considered
Easy way for you to make money ... But you will loose it anyway later by trading it
MT4/MT5 EAs/Indicators/Alerts coder
  • #379
  • Aug 24, 2013 4:49am Aug 24, 2013 4:49am
Quoting FerruFx
{quote} Easy way for you to make money ... But you will loose it anyway later by trading it
this way I won't have to trade
Later on I can even open a web page where people can place their bets, I'll call it alterforex or gold for fools ;-)
maybe I can even invest in this business: http://www.forexfactory.com/showthre...82#post6915982
On my way to financial independence - if others can do it - I can do it
  • #380
  • Aug 24, 2013 4:53am Aug 24, 2013 4:53am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Eur Usd
{quote} this way I won't have to trade
I can't believe that It's obvious that you are addicted.
MT4/MT5 EAs/Indicators/Alerts coder
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