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  • #1,621
  • Sep 17, 2013 6:18am Sep 17, 2013 6:18am
good luck. and remember - if you'll lose health chasing money, you will need money only to fix your health - what's the point in slowly killing yourself?
If I were you I'd think about some sport anyway - it allows to relax. try some martial arts, crossfit, spinning or some running/cycling club, something in group, living just to earn money without any joy has no sense
On my way to financial independence - if others can do it - I can do it
  • #1,622
  • Sep 17, 2013 6:20am Sep 17, 2013 6:20am
Quoting xtrader101
I had some string of losses then a good recovery last week and yesterday then string of losses today, but the TRICK is two reasons why my emotions is controlled. 1. My position size is very small relative to my account except for the super aggressive explorer (Risk management). 2. My winners are way bigger than my losers (Let the winners run) So, when I lose or win, I could care less because the amount is small. And of course, I never doubt my system, I trade all signals that comes along.

I have noticed that you are quite disciplined , but your growth is quite small , it will take you very very long to grow 100% , and if your equity is small , that will be a lifetime that's the trouble with your system
  • #1,623
  • Sep 17, 2013 6:21am Sep 17, 2013 6:21am
Quoting Eur Usd
good luck. and remember - if you'll lose health chasing money, you will need money only to fix your health - what's the point in slowly killing yourself? If I were you I'd think about some sport anyway - it allows to relax. try some martial arts, crossfit, spinning or some running/cycling club, something in group, living just to earn money without any joy has no sense

I will just sleep , I have had enough for one day .
  • #1,624
  • Sep 17, 2013 6:50am Sep 17, 2013 6:50am
Quoting tafadzwa02
{quote} I will just sleep , I have had enough for one day .

I think its not good practice that when one loses , one stops trading , I won't do that .I will continue If i get any opportunities , f***ck it .
  • #1,625
  • Sep 17, 2013 6:54am Sep 17, 2013 6:54am
Quoting tafadzwa02
{quote} I have noticed that you are quite disciplined , but your growth is quite small , it will take you very very long to grow 100% , and if your equity is small , that will be a lifetime that's the trouble with your system
The purpose of my accounts is not to generate income for myself, but to show a track record of risk management and consistency for a few guys/friends in my city.

This is only applicable for the conservative account.

Their requirements are:

1. No trade should have a loss more than 0.5%.
2. Floating draw down should not exceed 8%
3. Monthly ROI between 3 to 5 percent
4. At least 6 months profitable trading

If I can achieve the above requirements, I may start trading $500K capital and gradually increases when it generates a positive return for the next 6 months.

Also, when i can show a consistent result, I may be able to attract trade copiers or zulutrade followers that can generate extra income.
Fear prevent possibilities, and so does Greed
  • #1,626
  • Sep 17, 2013 7:10am Sep 17, 2013 7:10am
Quoting xtrader101
{quote} The purpose of my accounts is not to generate income for myself, but to show a track record of risk management and consistency for a few guys/friends in my city. This is only applicable for the conservative account. Their requirements are: 1. No trade should have a loss more than 0.5%. 2. Floating draw down should not exceed 8% 3. Monthly ROI between 3 to 5 percent 4. At least 6 months profitable trading If I can achieve the above requirements, I may start trading $500K capital and gradually increases when it generates a positive return...
OK I get the point , I will use you as my benchmark .I also have a set of rules and from next week , I will try to adhere to them ( I have said this a few times I know ) but the difference is that I will use you for inspiration .
  • #1,627
  • Sep 17, 2013 7:21am Sep 17, 2013 7:21am
GBPUSD is now making the move to 1.5870 , where it will bounce and make a crazy move to make a higher high. This will also be supported by GBPJPY which will also make the move down and only to bounce @156.94 .WATCH
  • #1,628
  • Sep 17, 2013 7:42am Sep 17, 2013 7:42am
Quoting tafadzwa02
gbpusd is now making the move to 1.5870 , where it will bounce and make a crazy move to make a higher high. This will also be supported by gbpjpy which will also make the move down and only to bounce @156.94 .watch

you were so sure that you lost 40% of your account. Stop it for today
On my way to financial independence - if others can do it - I can do it
  • #1,629
  • Sep 17, 2013 7:49am Sep 17, 2013 7:49am
Quoting Eur Usd
{quote} you were so sure that you lost 40% of your account. Stop it for today
This thing is crazy .I can only laugh at such
  • #1,630
  • Sep 17, 2013 7:51am Sep 17, 2013 7:51am
Quoting Eur Usd
{quote} you were so sure that you lost 40% of your account. Stop it for today
being internet troll is much more entertaining than trading forex LOL
On my way to financial independence - if others can do it - I can do it
  • #1,631
  • Sep 17, 2013 8:10am Sep 17, 2013 8:10am
Quoting Eur Usd
{quote} being internet troll is much more entertaining than trading forex LOL
Forex trading is not fun at all , trust me.Those who lie that it is are just looking to make the mockery of this very serious , stressful business with serious health implications.

These are my rules from tomorrow, I had them before but I am using XTRADER101 as my benchmark

1.No trade should have a loss more than 2.7 % or Whatever the maximum risk for that week is , eg , this week = £120
2.Weekly Growth anything up to 9 percent is OK , as long as its a winner
3.At least 6 months profitable trading
4.At most 3 trades a day
5.I should not lose more than what I set myself for that week to be the maximum loss
  • #1,632
  • Sep 17, 2013 8:29am Sep 17, 2013 8:29am
I have just done my stats and , guys this is serious .It took me 2 months of effort , analysis and work to make the money that I blew in less than 12 Hrs .That's what happens when you are not careful with this thing .On a positive note , I honestly think I have learnt my lesson .I can feel it.Let's see
  • #1,633
  • Sep 17, 2013 8:32am Sep 17, 2013 8:32am
Quoting tafadzwa02
{quote}....At least 6 months profitable trading ...
AND WHAT AFTER 6 MONTHS?
what is it related with? what if you won't have 6 profitable months?
besides I don't believe you'll stick to the rules after such loss. I bet you will loose antother thousand by the end of the week. I BET on Thursday latest you will get into revenge trade where you will get 20-30% profit quite easly, but it won't be enough for you, then price will go against you, but you'll be widening s/l over and over till you lose more cash
On my way to financial independence - if others can do it - I can do it
  • #1,634
  • Sep 17, 2013 8:35am Sep 17, 2013 8:35am
Quoting tafadzwa02
.On a positive note , I honestly think I have learnt my lesson
if I had 1 quid each time you said that.........
On my way to financial independence - if others can do it - I can do it
  • #1,635
  • Sep 17, 2013 9:14am Sep 17, 2013 9:14am
Quoting Eur Usd
{quote} if I had 1 quid each time you said that.........
You'd be rich by now.
Fear prevent possibilities, and so does Greed
  • #1,636
  • Sep 17, 2013 11:55pm Sep 17, 2013 11:55pm
I am devastated.I will write in bold and in red to underline my conviction.This time it is different , I can feel it.The below rules shall never be broken.

1.No trade should have a loss more than the maximum risk for that week (risk is calculated in the weekly spreadsheet) e.g , this week = £120

2.Maximum Trades per day = 3 ( this does not include swing trades)

3.The maximum balance for the losing week should not go below whats set out in the spreadsheet

@@@@@@@@@Tafadzwa02 - 18-09-2013@@@@@@@@@@

  • #1,637
  • Sep 18, 2013 2:39am Sep 18, 2013 2:39am
Quoting tafadzwa02
I am devastated.I will write in bold and in red to underline my conviction.This time it is different , I can feel it.The below rules shall never be broken. 1.No trade should have a loss more than the maximum risk for that week (risk is calculated in the weekly spreadsheet) e.g , this week = £120 2.Maximum Trades per day = 3 ( this does not include swing trades) 3.The maximum balance for the losing week should not go below whats set out in the spreadsheet @@@@@@@@@Tafadzwa02 - 18-09-2013@@@@@@@@@@
rules are easy to break. many times I told myself it is the last time I did something silly, and I still do silly things. You'll stick to the plan till one day you'll say "just this one time" and you'll break the rule and will win, you'll start strething the rules and after few months they will be nowhere near what you wrote today ;-)
you just want it too much. told you many times: focus on family, focus on your career, treat fx as part time
On my way to financial independence - if others can do it - I can do it
  • #1,638
  • Sep 19, 2013 12:17am Sep 19, 2013 12:17am
Quoting tafadzwa02
GBPUSD is now making the move to 1.5870 , where it will bounce and make a crazy move to make a higher high. This will also be supported by GBPJPY which will also make the move down and only to bounce @156.94 .WATCH

--I said this on 17 Sept @ 1:21pm--


What happened yesterday with these pairs is what cost me £2000 the previous day.I was chasing that move , the sad thing is it happened after I had lost all the money and will to continue.I only traded GBPUSD to make a new high but didn't think it would move that far .This gives me confidence that , despite my loss on Tuesday , my signals are quite good and as long as I stick to my rules , I will recover the money , after all , I made the money from the markets anyway.If i had stuck to my rules , this week would have been a profitable week , instead it is a devastating 40+% loss of my equity .NEVER AGAIN .I will keep going but the conviction about sticking to those rules are stronger than ever .This time it is different, I can feel the seriousness in me .These rules shall never be broken under any circumstance.There will be no exceptions.
  • #1,639
  • Sep 19, 2013 12:27am Sep 19, 2013 12:27am
Like I said before, the problem is not your system, but YOU.
Fear prevent possibilities, and so does Greed
  • #1,640
  • Sep 19, 2013 6:53am Sep 19, 2013 6:53am
Quoting xtrader101
Like I said before, the problem is not your system, but YOU.

I said it as well, but he's not listening to me
On my way to financial independence - if others can do it - I can do it
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