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Trading as I know it...

  • #41
  • Sep 1, 2013 3:51pm Sep 1, 2013 3:51pm
Quoting CindyXXXX
Um let's not turn this into a Cindy's a fking crazy lunatic kinda deal... You wanna know me about as much as I wanna know. u.. im gonna provide all with ears ideas on how to make money in the markets.. Then I'm gone and we're done here.. Dont get it twisted , this is not a cry for help =)
You'll be back
  • #42
  • Sep 1, 2013 4:29pm Sep 1, 2013 4:29pm
I love you cindy,,
if there is something you should keep secret,simply just save it,, so, just
  • #43
  • Sep 1, 2013 10:02pm Sep 1, 2013 10:02pm
Quoting bootsyjam
Hey Cindy, I have no knowledge of your 1000s of posts, just want to congratulate you on a v honest and informative thread. The fact that you really get auction theory/how supply/demand and the big boys work means that this is shaping up to cover everything in fx trading, warts and all. Keep up the good work and hope all is going ok. Bootsy
Thanks everyone

Honesty is all I ask from anyone who enters my headspace, good or bad, as one of the muppets that runs around here acting like they know what's up, the least I can do is return the favour.

Anyone then who doesn't want some rehashed BS, I will end this little excersise with this, if not helpful then at the least interesting

http://m.afr.com/p/national/the_gambler_GwoSmf5IXaVFjmpyYXNu9J

Food for thought
Time hides Nothing
  • #44
  • Sep 2, 2013 2:47am Sep 2, 2013 2:47am
Quoting CindyXXXX
{quote} Thanks everyone Honesty is all I ask from anyone who enters my headspace, good or bad, as one of the muppets that runs around here acting like they know what's up, the least I can do is return the favour. Anyone then who doesn't want some rehashed BS, I will end this little excersise with this, if not helpful then at the least interesting http://m.afr.com/p/national/the_gamb...XaVFjmpyYXNu9J Food for thought

I admire your honesty and have been down your path many times in the past 7 years of trading FX.I've had my little 6k account up 65% then blow all the profits by not sticking to my rules,back up 50% then blow it all again by trying some new methods I've read about etc.I've come to the conclusion that we all do this because we are trading small accounts and the losses don't really matter.Once you start to trade amounts that do matter your approach changes,you start to take notice of the rules and become a far more discerning trader as apposed to the gambler of a small account.The vast majority of people posting on the FF are pubescent males studying IT or engineering etc,they don't have a real life and post crap in massive quantities.I don't have to trade to make a living but the prospect of doing so is very appealing but it's not going to happen until I put my balls on the line and start trading significant amounts of money.....start risking a weeks wages on a trade and your attitude changes dramatically.This is a very simple game,manage your risk and your edge will give you success but you need to play big to win and if you can't or don't have the confidence to play big you will never control your emotions and will never win at this game.
  • #45
  • Sep 2, 2013 3:15am Sep 2, 2013 3:15am
I hear this kind of talk very often. About lack of discipline.

Based in my experience "lack of discipline" is just an effect not the cause.

The real problem is that people don't know how to trade. But to admit it is
just too hard, especially if you are e senior with so many years of experience.

I like to call it the "newbie senior" syndrome. When the person has more than
5 years of experience but still don't know how to do it.


In my case at a point in my trading experience, I just assumed I knew how to trade
(because I had more than 5 years of experience) and every time the market showed
me the contrary I would fall into the lack of discipline excuse.

I was always blaming myself for not following my trading rules, but in reality
my rules were so discretionary that I could barely call them rules at all.

It took me a while to admit (note the word admit) that I did not know how to trade.

My brain was fooling me because it is so much easier to believe that I had a winning
system, if just I could stick to it.

Of course the system worked in certain market situations, but as things changed
and it did not work anymore I would blame it on me not following it.

it took me a big dose of courage to go back to the drawing board and start from scratch.

But I did it. And now that I have a better system ( not perfect but better) the " discipline"
effect is pretty much gone.

the word discretionary is death in Forex. The world of trading is the world of the ABSOLUTE.
  • #46
  • Edited 4:40am Sep 2, 2013 4:05am | Edited 4:40am
Quoting Slackjawed
I hear this kind of talk very often. About lack of discipline. Based in my experience "lack of discipline" is just an effect not the cause. The real problem is that people don't know how to trade. But to admit it is just too hard, especially if you are e senior with so many years of experience. I like to call it the "newbie senior" syndrome. When the person has more than 5 years of experience but still don't know how to do it. In my case at a point in my trading experience, I just assumed I knew how to trade (because I had more than 5 years...
A few weeks ago I was talking to my Stonemason.. He was telling me how every time the AUD drops a cent he loses $5,000... At this stage the AUD had just rallied 300 pips prior to the RBA's last interest rate announcement where despite them cutting rates and saying that the AUD was still "high"the AUD rallied 300 or son pips in a massive short squeeze which only a few reports I read saw coming... Well anyone following knew that the rate cut was already priced in to a degree of 90 or so % and so a rally on the actual thing was not so astonishing..

Anyway I told my Stonemason, who had his (business money) money in Vietnam or Thailand and hence USD, and had been long essentially from the record high of 1.05 all about Options and Futures... He had no idea, I suggested he could hedge this risk and I was 90% sure that the AUD from the current .9200, it would depreciate further.. At the time I remember thinking distinctly that .8800 would be a good target.

Did I trade on this opportunity.. Well kind of.. One Monday morning I woke up and saw the AUD still at .9200 and just couldn't resist having a go at it... I found a 20 pip S/L entry close to .9200 and spent the whole day watching it not move.. My risk was only $100 so I got 50,000 lots on it, for $5 a pip intending to add to it about 8 times on the way to .8800. As the USD session was approaching I decided to close it and go long GBP/AUD instead for similar risk...

Well as my GBP/AUD started moving I jumped back into the AUD/USD as well as it broke lower but got such a worse price than my first position that I closed it like a scalp trade for like a measly 15 pips or something, expecting that because my price sucked I should try and get a better one...

At the same time my GBP/AUD had gone up 50 pips so I closed that as well..

In all this discretion all I had to do was nothing.. Simple nothing.. (from my first entry on that Monday morning I would of have had at most 5 pips draw down) And by Friday I would have turned a $100 risk into about $2000+ on the GBP/.AUD and if I held into the next week another $2,000+ on the AUD/USD.. Without adding anything...

There were these obvious things and small risk.. But I confused it and abused it and had to watch the next 2 weeks... Erm,, Slack Jawed..

My year has been full of these type of things and it gets quite mentally draining after a while... I'm not looking for a hug I know we all do this.. But this one particularly cut me up because I think subconsciously I had been planning it for weeks, and the execution was so piss poor it was just inexcusable.

The intraday day stuff can stuff off.. When I return I will be waiting for long term movements and just pyramid maybe taking 1 or two trades a month.. I'll be able to do this because today I had an interview and scored a pretty cool full time job which I'm looking forward to.. Sitting around all day (for me) I feel like I need to DO something and so that's when all this mental mismanagement comes into play.. (for me)..

Just another little episode in the year that wasn't..
Time hides Nothing
  • #47
  • Sep 2, 2013 4:13am Sep 2, 2013 4:13am
Quoting CindyXXXX
{quote} I will end this little excersise with this, if not helpful then at the least interesting http://m.afr.com/p/national/the_gamb...XaVFjmpyYXNu9J Food for thought
No one found this awesome>? Gotta read the whole thing
Time hides Nothing
  • #48
  • Edited 5:39am Sep 2, 2013 5:13am | Edited 5:39am
@CindyXXXX

http://www.offtrackbetting.com/rebates.html
As far as I’m familiar with this to me new term, ''rebate in horse betting'' (as he stated) is his edge.
One of them.

But I’m always very careful when betting is in concern.
Why...well study very very hard, why.

Call a member here on FF with card as his avatar.
He stated that he belongs to betting industry. Or is it vice versa?
(Sorry, I can’t remember his name i.e. nick name here)
  • #49
  • Sep 2, 2013 5:47am Sep 2, 2013 5:47am
Quoting CindyXXXX
Well anyone following knew

At the time I remember thinking distinctly that .8800 would be a good target.

I woke up and saw the AUD still at .9200 and just couldn't resist having a go at it..

spent the whole day watching it not move.

As the USD session was approaching I decided to close it and go long GBP/AUD instead for similar risk...

Well as my GBP/AUD started moving I jumped back into the AUD/USD

I closed it like a scalp trade for like a measly

In all this discretion all I had to do was nothing.. Simple nothing.. (from...
This kind of wreck is the newbie senior syndrome.

Your lack of discipline is in consequence of a lack of trading skills.

As soon as you manage to come up with absolute entry and exit reasons the effect will go away.

Believe me. have been in your shoes before.
  • #50
  • Sep 2, 2013 7:20am Sep 2, 2013 7:20am
sexy market niche and full pool of horny wishes
let's talk about sex
With a good book and quality paper you can fine wipe your ass.
  • #51
  • Sep 2, 2013 7:48am Sep 2, 2013 7:48am
I often see this in threads. Those that go on about liquidity, order flow, Gann, pi, supply/demand, market micro-structure, market chaos and complexity theories etc etc and then some guy trades some 5/8 MA cross system and makes a killing each year making the know-it-all egoist look a total fool.

The egoists on forums have to BIG themselves up with a display of vast amounts of trading knowledge to compensate for their lack of actual trading skills (not pointing at you Cindy).

In the industry there are fantastic analysts out there who get paid to write, but they cannot trade.

Trading is a mental skill. You find an edge (it could be any edge), you trade the edge and adjust it to market conditions (from experience - that's why discretion matters but it comes from experience and no, discretion is not death slackjawed).

You make wins, you make losses but you do not care whether you win or lose, you are trading your edge and over time you know you will make money. Self Trust comes from research and close monitoring of your trading processes once you go live. Just because you trade an edge does not mean the outcome of each trade is not open to randomness -that's where people get it very very wrong.

Can you see why the egoists have to try and outshine everyone on forums to compensate for their real lack of skill. They think they have to be right. They think wrong.
  • #52
  • Sep 2, 2013 7:57am Sep 2, 2013 7:57am
Quoting CindyXXXX
{quote} If you kiss my ass one more time I'm gonna have to lose my sh*t Youer likely a better trader than me. It would not be so hard.. You're positive input would be more appreciated Why I suck: I have a self destructive streak that I can't seem to shake.. I have been known to trade with discipline for 3 months straight only to undo everything in that 3 months with one stupid trade,.. That' is why I suck.. It' important that you know this as I don't claim to be a big shot trader.. Just sharing what I know to be helpful I will expand on my trials...
Cindy,

I think we've all been there - I certainly have and I'm sure others have too. I have turned a corner in this regard in the not too distant past and I put it down to being able to forgive oneself. Its very easy to get angry with oneself and within that context self punishment can be a next logical step. It is not as easy to forgive oneself and then move on to the next trade in a calm fashion. As I type this I have just been stopped out on a USDJPY short. In the past I would be hovering over the keyboard desperate to correct my 'mistake' - not anymore. I may get short again but it will be on my terms and not in the very near future and most importantly it will be a calm calculated trade placed on its own merits and not because I have some deep rooted desire to cause myself some sort of emotional pain - The reason is simple - I have already 'forgiven' myself for that trade and it is now in the past.

I suggest the next time you have a loosing trade to spend 5 minutes thinking about it from this perspective - remember its not the easy option - its far easier to get all angered up with oneself but successful trading often requires us to take the harder path.

Hope this helps.

BBCMicro
  • #53
  • Sep 2, 2013 9:48am Sep 2, 2013 9:48am
Nobody can win in this game, sooner or later you will lose all your money and go broke, it is ALL gambling and that is why they say "A Sucker is Born Every Minute".

The only ones who make money in this business is the brokers(they make a lot of money from the suckers) and the so called "Gurus" who sells books, DVDs, seminars, Expert Advisors, systems, signals etc.(they sell these things to the suckers).

There is a book called "Reminiscences of a Stock Operator", this book talks about the suckers in this paragraph:

"Take a look at 'em, kid. There's three hundred of em! Three hundred suckers! They feed me and my family. See?
Three hundred suckers!"
https://diamondmanagedfx.com/prop-firm-passing-service/
  • #54
  • Sep 2, 2013 10:14am Sep 2, 2013 10:14am
You'll be back before you know it, Cindy. Try out some other markets in the meantime. The structure of the FX market isn't the best to trade without great connections & information.
  • #55
  • Sep 2, 2013 10:19am Sep 2, 2013 10:19am
Quoting EuroMaster
Nobody can win in this game, sooner or later you will lose all your money and go broke, it is ALL gambling and that is why they say "A Sucker is Born Every Minute". The only ones who make money in this business is the brokers(they make a lot of money from the suckers) and the so called "Gurus" who sells books, DVDs, seminars, Expert Advisors, systems, signals etc.(they sell these things to the suckers). There is a book called "Reminiscences of a Stock Operator", this book talks about the suckers in this paragraph: "Take a look at 'em, kid....
Okay so which are you a broker or a sucker? are you just playing a computer game or what?

Quoting Porkpie
I often see this in threads. Trading is a mental skill. You find an edge (it could be any edge), you trade the edge and adjust it to market conditions (from experience - that's why discretion matters but it comes from experience and no, discretion is not death slackjawed). Just because you trade an edge does not mean the outcome of each trade is not open to randomness -that's where people get it very very wrong. Can you see why the egoists have to try and outshine everyone on forums to compensate for their real lack of skill. They think they have...
It's been said good traders know how to follow the rules, but great traders know when to break the rules, you can't throw away discretionary from trading.
Let it turn and find your entry.
  • #56
  • Sep 2, 2013 10:28am Sep 2, 2013 10:28am
Quoting EuroMaster
Nobody can win in this game, sooner or later you will lose all your money and go broke, it is ALL gambling and that is why they say "A Sucker is Born Every Minute". The only ones who make money in this business is the brokers(they make a lot of money from the suckers) and the so called "Gurus" who sells books, DVDs, seminars, Expert Advisors, systems, signals etc.(they sell these things to the suckers). There is a book called "Reminiscences of a Stock Operator", this book talks about the suckers in this paragraph: "Take a look at 'em, kid....
I used to think exactly like that. How similar we are, when humans go though the same experience we all get to similar conclusions.

This way of thinking held me back in my trading development because i was afraid to give my all to something impossible.

But there is a problem with this theory. what about all those traders out there making money out of the markets?

people can lie in the internet and they usually do but what about the public traders out there. is george Soros a fake?

Buffet, Tudor Jones a so many more.

Watch the video floored and the pit. It shows the losers but it also shows the winners.

I'm not 100% there yet but getting there for sure.
  • #57
  • Sep 2, 2013 10:39am Sep 2, 2013 10:39am
Quoting Slackjawed
I hear this kind of talk very often. About lack of discipline. Based in my experience "lack of discipline" is just an effect not the cause. The real problem is that people don't know how to trade. But to admit it is just too hard, especially if you are e senior with so many years of experience. I like to call it the "newbie senior" syndrome. When the person has more than 5 years of experience but still don't know how to do it. In my case at a point in my trading experience, I just assumed I knew how to trade (because I had more than 5 years...
]the word discretionary is death in Forex. The world of trading is the world of the ABSOLUTE.

​i have yet to see a trading style method or system that over time is successful with out one element of discretion within it.




i believe that statement to be total nonsense......................................
  • #58
  • Sep 2, 2013 10:55am Sep 2, 2013 10:55am
look at the effect cindies attempted suicide bid has had here

.many with out realizing it, our effected by this admitting of failure by such a respected member of the group.many will question there own path and doubts will subconsciously embed with in you.

these forums can have a serious affect on your development in trading.

its a dooms day theatrical show to spread ones own insecurities into the group .a little like spreading the guilt,it makes one feel a little better for a while
  • #59
  • Sep 2, 2013 11:01am Sep 2, 2013 11:01am
Quoting Slackjawed
{quote} This kind of wreck is the newbie senior syndrome. Your lack of discipline is in consequence of a lack of trading skills. As soon as you manage to come up with absolute entry and exit reasons the effect will go away. Believe me. have been in your shoes before.
i find this to be very true.all the psychology stuff is just nonesense.as soon as you start risking what you feel like is too little,and have a clear entry with minimum M.A.E ,all of a sudden all these problems dissappear.finding such a system is the hard part,98% of the systems out there are worthless.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #60
  • Sep 2, 2013 12:05pm Sep 2, 2013 12:05pm
sorry to see this

maybe this thread will give you more hope.

http://www.forexfactory.com/showthread.php?t=444377




save up some cash and try again, WITH PATIENCE and DISCIPLINE

some of the best traders in the world take less than 20 trades a year (trade ideas, this doesn't mean they don't pyramid the position though)

if you have no profits to trade on, even if you have $100,000 to risk in the markets and not have it effect your life if you lost it.. still why would you do it??


you have to prove you can make profits first, regardless how much money you have. otherwise you are just taking larger losses than necessary, paying for your "education" in the markets.


hope to see you back and successful one day soon.

good luck with whatever you do.
Be hopeful in a winning position, and fearful in a losing position.
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