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  • #1,841
  • Nov 20, 2013 3:10am Nov 20, 2013 3:10am
Quoting Eur Usd
tafa, let it fuvcking go, leave it for at least a week. can you afford to lose rest of the money?
You guys are in London, correct? Go to Master Yoda and handcuff him so he wont enter anymore trades.
Fear prevent possibilities, and so does Greed
  • #1,842
  • Nov 20, 2013 3:22am Nov 20, 2013 3:22am
Quoting xtrader101
{quote} You guys are in London, correct? Go to Master Yoda and handcuff him so he wont enter anymore trades.
I live far away from London
On my way to financial independence - if others can do it - I can do it
  • #1,843
  • Nov 20, 2013 3:22am Nov 20, 2013 3:22am
Quoting tafadzwa02
{quote} This really makes me laugh ,just look at today's low of USDJPY And tell me WHY ?.I can't bear watching this
You got lucky by 2 pips this time on UJ.
Fear prevent possibilities, and so does Greed
  • #1,844
  • Nov 20, 2013 3:57am Nov 20, 2013 3:57am
Looks like revenge day - "Rambo 6: revenge of pensioner" or something
it's not the way to regular profits
On my way to financial independence - if others can do it - I can do it
  • #1,845
  • Edited 5:05am Nov 20, 2013 4:12am | Edited 5:05am
Quoting Eur Usd
Looks like revenge day - "Rambo 6: revenge of pensioner" or something it's not the way to regular profits
Looks like Rambo 6 has 9 lives at all, we'll he already used 7, so 2 more to go.

Finally Master Yoda came to his senses and the bleeding stopped.
Fear prevent possibilities, and so does Greed
  • #1,846
  • Nov 20, 2013 5:05am Nov 20, 2013 5:05am
I am waiting for next position - this time with 40-50 lots
tafa don'[t worry, stop trading for a while, rest, relax, think of what I wrote yesterday. If you seek get rich fast method then open some small account and keep trying. the large account leave for wise trading
On my way to financial independence - if others can do it - I can do it
  • #1,847
  • Nov 20, 2013 5:53am Nov 20, 2013 5:53am
I am literally exhausted .I am waiting for just one more trade , 20 lots to just recover before Friday and take a rest , can't wait for the weekend .Maybe FOMIC will give me an opportunity , don't know
  • #1,848
  • Nov 20, 2013 7:11am Nov 20, 2013 7:11am
I have admitted defeat now for this week , whatever I am doing , it just doesn't make sense , I still have £3700 to trade, Will take a rest and resume next week , however painful it is .That's it for me this week .I never thought it would come to this with my kind of experience , but I was wrong , it can happen o anyone no matter how experienced you are
  • #1,849
  • Nov 20, 2013 7:28am Nov 20, 2013 7:28am
You might ask why all of a sudden since 15-09-2013 have I lost discipline like this .
Well , what triggered all this was a midnight move on EURJPY and GBPJPY .My signals came whilst I was sleeping , so basically when I woke up , I said I was going to be disciplined enough and wait for the market to come back and I will buy them .
They did exactly that , and the worst part is , my stop was hit , only for the market to start to go up.This pissed me even more , and I kept buying them , and the market kept hitting my stop and pretending to go up.When it finally did , I was out of the game and tired.The market went up exactly as I had thought initially .
I then went into a recovery mode and all hell broke loose , I was just gambling without regard to anything , no analysis , just going in angrily until today .

I know I have said this before but this is unbelievable . I honestly thought I was past my demons but was clearly wrong .Will take a rest , reflect and resume again next week
  • #1,850
  • Nov 20, 2013 7:44am Nov 20, 2013 7:44am
Your trading seems to be pretty good. Just figure out a way to remove these revenge trading days. Imagine where your account would be if you removed the 2 days of revenge trading. I agree with the point though about reducing the lot size & use a bigger SL if you're picking the direction correctly but barely getting stopped out.
  • #1,851
  • Nov 20, 2013 7:48am Nov 20, 2013 7:48am
so are you going to top up next week?
besides - about EUR/USD - looks like I was right?
On my way to financial independence - if others can do it - I can do it
  • #1,852
  • Nov 20, 2013 7:53am Nov 20, 2013 7:53am
Quoting Eur Usd
so are you going to top up next week? besides - about EUR/USD - looks like I was right?

No more topping up for now , I need a rest from topping up .I will also adjust my risk to take into consideration all the issues about Stop Loss and lot size from next week.I am very humbled ,the BEAST has humbled me
  • #1,853
  • Nov 20, 2013 8:27am Nov 20, 2013 8:27am
Quoting tafadzwa02
{quote} No more topping up for now , I need a rest from topping up .I will also adjust my risk to take into consideration all the issues about Stop Loss and lot size from next week.I am very humbled ,the BEAST has humbled me
A wise decision: here is a Zen Forex saying>

When you have lost: Regroup! Come back!
When you have won: Regroup! Come Back!


And remember:

A margin Call is a terrible thing!
  • #1,854
  • Nov 20, 2013 10:37am Nov 20, 2013 10:37am
Quoting Eur Usd
...about EUR/USD - looks like I was right?
This pair is making that move it was supposed to make yesterday .It hit my stop in the middle of the night.Typical Market.I have seen enough of this nonsense
  • #1,855
  • Nov 20, 2013 10:42am Nov 20, 2013 10:42am
Quoting tafadzwa02
{quote} This pair is making that move it was supposed to make yesterday .It hit my stop in the middle of the night.Typical Market.I have seen enough of this nonsense
but it was close to where I said it will get ;-)
On my way to financial independence - if others can do it - I can do it
  • #1,856
  • Edited 12:28pm Nov 20, 2013 11:50am | Edited 12:28pm
Hello guys, it doesn't matter who is right or wrong. What matters in trading is that a trader should exploit opportunities when there is one and limit his/her loses when it is rough. It does not mean that we can capture all the big moves, what really is important is to protect trading capital because it is the lifeblood i our trading career or hobby as some of you might wanna call it.

I got some loses last night, but no damaged has been done.

I will be long USDJPY shortly with SL @ 99.75. When I see SL, it means my max potential loss, but when I see a change in direction in the hourly, I will cut my loses right away without looking back. Im just waiting for some confirmation to short GU, maybe it will happen in the next 2 hours. My entries are based usually on the close of the hourly bar, the reason I missed the EU and EJ move because it moved to far and RR is not favorable anymore, but the likelihood of GU following EU before the close of this bar is more than likely, so I will take one position short and will add later.

Most of you will see that my trading is boring, but it does make a decent return percentage wise and it preserves capital. My conservative account objective is an annual ROI between 15 to 30%, moderate 20 to 50% and aggressive is sky is the limit or bust, that's why only a tiny amount in that account.
Fear prevent possibilities, and so does Greed
  • #1,857
  • Nov 20, 2013 12:50pm Nov 20, 2013 12:50pm
Quoting xtrader101
Hello guys, it doesn't matter who is right or wrong. What matters in trading is that a trader should exploit opportunities when there is one and limit his/her loses when it is rough. It does not mean that we can capture all the big moves, what really is important is to protect trading capital because it is the lifeblood i our trading career or hobby as some of you might wanna call it....


Quoting xtrader101
...Im just waiting for some confirmation to short GU, maybe it will happen in the next 2 hours. My entries are based usually on the close of the hourly bar, the reason I missed the EU and EJ move because it moved to far and RR is not favorable anymore, but the likelihood of GU following EU before the close of this bar is more than likely, so I will take one position short and will add later....
On rule I learnt is , never think the other pair will follow , there is a reason why it didn't .

Quoting xtrader101
..Most of you will see that my trading is boring, but it does make a decent return percentage wise and it preserves capital. My conservative account objective is an annual ROI between 15 to 30%, moderate 20 to 50% and aggressive is sky is the limit or bust, that's why only a tiny amount in that account.
I could not trade like you because your growth is quite slow to be honest .I think the only reason why the aggressive one is making more is because its a small amount and you don't really care.
  • #1,858
  • Nov 20, 2013 1:14pm Nov 20, 2013 1:14pm
Quoting tafadzwa02
{quote} {quote} On rule I learnt is , never think the other pair will follow , there is a reason why it didn't . {quote} I could not trade like you because your growth is quite slow to be honest .I think the only reason why the aggressive one is making more is because its a small amount and you don't really care.
On high correlated pairs, the probability is good, but then again, don't bet the farm that's I only took one position and added one after it closed.

Quoting tafadzwa02
{quote} {quote} I think the only reason why the aggressive one is making more is because its a small amount and you don't really care.
I do care all of my accounts, but for the aggressive, my monthly budgeted max loss is 50% of the monthly beginning balance, for the moderate is a max loss of 20% of account and conservative is a max loss of 10%.
Fear prevent possibilities, and so does Greed
  • #1,859
  • Nov 21, 2013 3:49am Nov 21, 2013 3:49am
I'll hold my long UJ trade in the next 48 hours or until 101.5 or my updated SL is hit, whichever comes first. This pair does not go straight up right away, it needs patience to reach 100 pips.
Fear prevent possibilities, and so does Greed
  • #1,860
  • Nov 21, 2013 8:14am Nov 21, 2013 8:14am
What Happened

As part of my trading , I had added what are called “MINE” signals .These are basically those kind of trades where I trade based on my experience of the market. These trades were also taking care of the “gambling” instinct in me in order for me not to regret a move that would have gone in my direction and I would have “seen” it and not taken it because my actual system (All IND) did not say I should go in .This explains the tab MINE and tab All IND in my weekly spreadsheet .MINE tab basically includes all trades I take, whereas All IND includes only the trades that ALL IND says I should trade.The ALL IND system is performing far far much better that MINE


Resolution

From next week, I will only trade ALL IND signals, by this I mean I will remove anything else that is not part of my signals.
There will still be a difference between MINE trades and ALL IND trades since some ALL IND trades happen over night and some happen during times I can’t trade. At the present moment, I don’t record ALL IND trades that happen over night and I will start this from next week

What’s the difference?

  1. I will be like a machine EVERY TRADE that ALL IND says I should take; I will take it, provided I am available to take it
  2. My prior experience /news etc will not be taken into consideration when trading
  3. I will remove EVERYTHING called MINE from my trades

I am just looking at my ALL IND systems and its trades and surprisingly, I would have won this week again had it not be for my indiscipline.
I have also noted that the 1 to 1 target trades are no match for the actual ALL IND system (No Target) trades, so I will stop looking at these as a possibility
There is a going to be a slight change on Money Management and not Stop Losses .Stop Losses will be taken care of by the risk per trade
My change will ensure that if I lose 6 continuous trades in a week at the risk of 30 pips/ (££ equivalent) per trade, then I will stop trading for that week .That’s my cover for not losing too much in a week

I have always come out stronger whenever I have had such a terrible experience. I don’t think this time it will be different

I can only stay positive and hope that ALL IND will not suddenly start to let me down and pile more pressure on me.

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