Goals will either limit you or push you beyond your limitation | Forex Factory

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Goals will either limit you or push you beyond your limitation

  • #1
  • First Post: Edited Sep 18, 2014 9:44am Dec 18, 2013 9:34am | Edited Sep 18, 2014 9:44am
Re-writing the first post on this, after 7 months of learning. Will be posting my trades as I have time for it, as a journal.

The purpose of this, is so that I can come back months later and see how bad or good I was, and how far I've come in my trading efforts
  • #2
  • Dec 18, 2013 10:59am Dec 18, 2013 10:59am
I'm tempted to go long on the GBPNZD, as it is breaking out of a symmetrical triangular consolidation pattern.

Watching it on the M15 and H1 charts for entry.

It might pull back more, and will try to time it right. If I decide to enter, I'll upload another video...


Update: The spread just became outrageous. Will need to wait for it to settle down...
  • #3
  • Dec 18, 2013 11:16am Dec 18, 2013 11:16am
Decided to pull the trigger on the GBPNZD. Hope I'm not overextending myself, as I now have 6 trades open


Video is: NewTradeGBPNZD20131218

http://www.youtube.com/channel/UCmn5UWtVQolz1L4OxAMQzzw
  • #4
  • Dec 18, 2013 1:01pm Dec 18, 2013 1:01pm
Added EURAUD analysis on current trade...

EURAUD 20131218
  • #5
  • Edited 2:29pm Dec 18, 2013 2:03pm | Edited 2:29pm
Stopped out in EURNZD due to not giving S/L enough room...

So, there goes my 100% winning average for the week.

Actually, I don't feel bad about this… yet. Because I'm still in profits for the week. Plus, I see what I think was the mistake in terms of why I was stopped out and will try to correct that in future trades...


TradeManagement20131218 2
  • #6
  • Dec 18, 2013 4:57pm Dec 18, 2013 4:57pm
Quoting benaiah
I had one so called "mentor" tell me: "losses are just part of the game". Yes, well, the more you completely accept that, the more you will lose. You are setting yourself up for failure on every trade you enter. So, how do you get around this. Of course, you will have losses, as we all do. But to just accept them as part of the game, in my opinion is not conducive to improving your trading. Example. You end up with a loss, how do you react to it? Just move on, and accept it as part of the game? No. You analyze that trade and determine what you could...
Accepting losses as a part of doing business does not mean we don't analyse the loss, it means we don't get emotional about it.
This is crucial to avoid the most common and fatal mistake traders make (becoming emotionally attached to their trades and thus becoming irrational when things don't go to plan).

Like the hot girlfriend that dumps you after 6 months just when you think all is going well, the market can turn traders into basket cases (and terrible traders) if we are too affected by loses.

Always use good MM so losses don't mess you up emotionally. This way you can continue to clearly and objectively trade setups without carrying emotional baggage.

If you have a winning method, don't let emotions bring you undone.
Come with me if you want to live....
  • #7
  • Dec 18, 2013 6:29pm Dec 18, 2013 6:29pm
Quoting benaiah
It really cracks me up, when someone starts a thread to try and help people, and all the "experts" come out of the woodwork posting their expert opinion about things, which seems to imply they already know it all, so they don't need you. Well, again, if you don't need me then why are you here? Did I start a journal to request your help? If you really want to help people and have something tangible to offer, then start a thread, and teach everyone what you know and show the results that prove you can walk the walk, and not just talk like you really...
Dear God, ok.
in the 1st line of your 2nd post where you say "if you set your goal high enough".

You were looking in the mirror and talking to yourself?

It's very clear you are very new to this so I was just clarifying something for you, no need to chuck a tantrum.

All the best.
Come with me if you want to live....
  • #8
  • Dec 18, 2013 7:37pm Dec 18, 2013 7:37pm
Here's a link to my videos.

http://www.youtube.com/channel/UCmn5UWtVQolz1L4OxAMQzzw

I'll probably at least be posting one or two more videos a little later, before I call it a day, as I discuss some analysis on what to do with some of the open trades, whether to let them ride, or take some profits...
  • #9
  • Dec 18, 2013 9:27pm Dec 18, 2013 9:27pm
Latest trade analysis video:

TradeManagement20131218 3

http://www.youtube.com/channel/UCmn5UWtVQolz1L4OxAMQzzw


for GBPAUD, GBPNZD, EURAUD, EURNZD, EURJPY, USDJPY
  • #10
  • Dec 18, 2013 9:40pm Dec 18, 2013 9:40pm
Okay, after thinking about it… I definitely overreacted to a post from Ill-b-back

Can anyone send my apology to him? He's got me on ignore (well-deserved) and I can't send apology:

Ill-b-back - Please come back, I'm sorry I overreacted. I just went through something on another forum, and dealt with a lot of negative posts, so I was just ready to jump on someone at slightest hint of provocation. But you didn't deserve it. I promise I'll be nice.
  • #11
  • Dec 18, 2013 10:13pm Dec 18, 2013 10:13pm
Ill-b-back - you can post anything you want on my thread. I'll listen. I'll play nice. Please come back…
  • #12
  • Dec 18, 2013 10:20pm Dec 18, 2013 10:20pm
Okay, I feel so bad about how I responded to Ill-b-back

I'm not going to post any further until Ill-b-back comes back.

I guess this is it… Unless Ill-b-back accepts my apology, and says it's okay for me to come back, I'll be exiled from the forum...
  • #13
  • Dec 19, 2013 12:17am Dec 19, 2013 12:17am
Quoting benaiah
Okay, I feel so bad about how I responded to Ill-b-back I'm not going to post any further until Ill-b-back comes back. I guess this is it… Unless Ill-b-back accepts my apology, and says it's okay for me to come back, I'll be exiled from the forum...
Because of your humility I sent him a PM. Hopefully, you will be forgiven.
If you are good at something, never do it for free--Joker
  • #14
  • Dec 19, 2013 4:01am Dec 19, 2013 4:01am
Quoting benaiah
Okay, I feel so bad about how I responded to Ill-b-back I'm not going to post any further until Ill-b-back comes back. I guess this is it… Unless Ill-b-back accepts my apology, and says it's okay for me to come back, I'll be exiled from the forum...
lol...
Hey, that's not fair.
You think you can make me feel this bad by posting your humbling expression and get away with it?
Not a chance

Sorry, I read your post and sensed a misunderstanding of the term "accept losses as a cost of business" and did my best at a spot of humour while getting my message across.
I was having an espesso at McDonalds and just filling in the time.
The only threads I have have really looked to dominate are the stupid ones in the Rookie section that claim forex profits are impossible.
But I mean really, they need a voice of reason.

MM has been a game changer for me recently to keep my trading emotions in check and I know this 1 simple factor brings many traders undone.

All the best to you,
Come with me if you want to live....
  • #15
  • Dec 19, 2013 4:03am Dec 19, 2013 4:03am
Quoting jmn5611
{quote} Because of your humility I sent him a PM. Hopefully, you will be forgiven.
Much appreciated
Come with me if you want to live....
  • #16
  • Dec 19, 2013 8:27am Dec 19, 2013 8:27am
Ill-b-back thanks for your acceptance of my apology

jmn5611 thanks for your help in delivering the message to Ill-b-back

Ill-b-back - it's good to have you back

I am starting over. Good to be here and look forward to interchange of ideas. Will be posting my trade analysis updates a little later...
  • #17
  • Dec 19, 2013 9:14am Dec 19, 2013 9:14am
Latest trade management on: GBPAUD, GBPNZD, EURAUD, EURNZD, EURJPY, USDJPY

TradeManagement20131219

Uploaded a video describing how I draw trend line support and resistance lines, and how it helps me with price action analysis.

video: TrendLineSR

http://www.youtube.com/my_videos?o=U
  • #18
  • Edited 9:28am Dec 19, 2013 9:20am | Edited 9:28am
Quoting Ill-b-back
{quote} lol... Hey, that's not fair. You think you can make me feel this bad by posting your humbling expression and get away with it? Not a chance Sorry, I read your post and sensed a misunderstanding of the term "accept losses as a cost of business" and did my best at a spot of humour while getting my message across. I was having an espesso at McDonalds and just filling in the time. The only threads I have have really looked to dominate are the stupid ones in the Rookie section that claim forex profits are impossible. But I mean...
Thanks for all of this.

And a voice of reason is always welcome, and I agree there are few of those voices.

Also agree about keeping emotions in check. In fact, for me, that was the biggest obstacle I had to overcome. And admit that I still need to be careful sometimes so that emotion doesn't dominate my trading decisions.

Posting everything I do has really provided me with additional help in that respect. As it helps me calmly outline everything I'm doing, and why...

Thanks again for your input...
  • #19
  • Dec 19, 2013 12:42pm Dec 19, 2013 12:42pm
Trade management update for:

GBPAUD, GBPNZD, EURAUD, EURNZD, EURJPY, USDJPY

TradeManagement20131219
  • #20
  • Dec 19, 2013 1:52pm Dec 19, 2013 1:52pm
Trade management update for:


GBPAUD, GBPNZD, EURAUD, EURNZD, EURJPY, USDJPY

TradeManagement20131219 2
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