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I want to pay off my mortgage asap with Choros

  • #81
  • Sep 25, 2014 1:40pm Sep 25, 2014 1:40pm
Quoting endroute
{quote} my 2 cents is to look for candles that show conviction vs indecision that doji was all indecision and no conviction.
now I see it. Price went down even below 10ema on daily chart.
As about me, I thought about it and after years and tons of books (maybe kilograms ) I still have the silly problem. the mentality. I am way better than was before but still far. Today I made calculation - I trade approx 120 days a year, but I'll round it down to 100. With only 2 % profit which is 20 pips on plus with my mm and position size - in 4 years - 400 trading days I could achieve my target even if starting from 100 Pounds. The difficult part is to keep mentality on same level.
Btw some things I need to come back to are:
- Super Trader of van Tharp
- http://www.forexfactory.com/showthread.php?t=27286 - Jacko's thread - not sure what to expect as I've never read it, but it was recommended by author of Dance (choros) manual
- http://www.forexfactory.com/showthread.php?t=2331 - James 16 - I've read it before and first 20 pages are ok, then it seems that they moved onto their private forum and it costs a bit - not sure if I want to spend the money

As I am a kind of person who forgets things easly I need to refresh knowledge all the time.
I think I went too far into forex to turn around. It is pissing me off, it annoys me, but at the moment it is the only chance for better life I see now.
On my way to financial independence - if others can do it - I can do it
  • #82
  • Sep 25, 2014 2:26pm Sep 25, 2014 2:26pm
Quoting Eur Usd
{quote} It is pissing me off, it annoys me, but at the moment it is the only chance for better life I see now.
then you need to use this as motivation to focus. My focus was that if I did not get my self together and trade well I was going to be living in a box and today trading puts a put a roof over my head, cars in the driveway etc, and keeps buys my daugher horses and then pays a mint for their upkeep (horses = money pit) .

My other 2 cents is that you seem to be comfortable with the dance so just trade that forget about looking at all the other threads etc unless of course you are looking for entertainment. You have to stick with 1 thing, make it yours and don't look back.
  • #83
  • Sep 25, 2014 3:00pm Sep 25, 2014 3:00pm
Quoting endroute
{quote} then you need to use this as motivation to focus. My focus was that if I did not get my self together and trade well I was going to be living in a box and today trading puts a put a roof over my head, cars in the driveway etc, and keeps buys my daugher horses and then pays a mint for their upkeep (horses = money pit) . My other 2 cents is that you seem to be comfortable with the dance so just trade that forget about looking at all the other threads etc unless of course you are looking for entertainment. You have to stick with 1 thing,...
I am glad you succeeded in FX - all the best - working from home is the best job one can have (of course if your family understands that when you work you canot be disturbed)

as about me and Dance/Choros - it is first method I was trading with (before my trading was one big mistake), and I had really good performance with it in the past - 30-80% a month profit @60% good trades. but then something happened and I became worse at it. Now I feel like I am getting back but the method don't work for me as it used to - probably my head messes around. What I like (and hate) in the method is thad it has tight s/l - good as you rish only 1%, bad as sometimes price goes your direction just after hits s/l

as about James 16 - it is about PA and PA is a part of Dance method
On my way to financial independence - if others can do it - I can do it
  • #84
  • Sep 26, 2014 2:24am Sep 26, 2014 2:24am
ok I will post my bad trades of today
first is GJ - entry was at blue dot due to fact of price constrainment at 10 ema - these are not as strong as 35sma price constrainment so maybe I should avoid it in the future. Of course price went below 10 ema right after I got into trade
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On my way to financial independence - if others can do it - I can do it
  • #85
  • Sep 26, 2014 2:28am Sep 26, 2014 2:28am
and same story with EJ
I am guesing 10 ema wasn't steep enough and it could be a problem.
Due to fact I lost 2% today this is it for me, I had my chance, I screwed it. I'll focus on learning today and will spend time with my son, go for a walk - family is the most important. I'd rather to be poor and have them than be rich and on my own.
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On my way to financial independence - if others can do it - I can do it
  • #86
  • Sep 26, 2014 2:35am Sep 26, 2014 2:35am
and this is a trade I took yesterday and still am in.
Entry was at 10ema on 1d chart (blue triangle) with 50 pips s/l @1% risk, tp is green line so still pretty far away. I've already moved s/l above BE and have 17 pips on plus at 0.3% profit. This way I risk less and don't have to stare at screen all day long. profits are lower but not losing is more important.
I want to implement this method for days I cannot trade, days when I am at work (can trade from mobile) - still needs working on it. Entries will be based on Dance rules or pure PA but higher time frames - still needs testing.
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On my way to financial independence - if others can do it - I can do it
  • #87
  • Sep 29, 2014 6:34am Sep 29, 2014 6:34am
Hey guys - maybe this link will be useful for some of you - http://swing-trading-strategies.com/...ng-strategies/
I am testing it now just by watching charts, and it works even on 15m charts - they advice to use it on higher frames, but works on 15m as well
On my way to financial independence - if others can do it - I can do it
  • #88
  • Oct 4, 2014 4:17am Oct 4, 2014 4:17am
so after nearly 3 weeks the only good thing is I still haven't ruin my account.
Bad trades, forcing trades, anger revenge trades, lack of patience is killing me, besides often price hits my s/l an gets back the direction I predicted.

After reading and understanding trades of previous link (james 16 summary) I am adding these patterns to the method and will be looking for them at 10/50 ema 35 sma. Besides I am not sure If I shouldn't lower amount of pairs I trade.
At the moment it is:
EUR/USD - rather watch it, as last few months it was bad for trading
EUR/JPY
EUR/AUD
GBP/USD
GBP/JPY
USD/AUD
USD/JPY
Silver - good to trade recently as it is downtrend that will last in my opinion until 15$ and probably 10$ within a year or two.

not sure if it's fine or should I reduce amount of pairs.
My mentality again fails. I need to work on me. 20 pips a day at 10 pip s/l at 1%risk is enough for me to get where I want to be in 4 years
In theory I know a lot about mm, rr, mentality, failure reasons etc, once I start trading, my bad habits are stronger than common sense ;-)
This weekend and next days I'll be checking charts back looking for good entry points. Besides I need to keep reading. Nearest few days - Dance manuals again, James 16 thread and Fuller's price action materials. I will stick to these ways until I master them. My success depends only on me.
On my way to financial independence - if others can do it - I can do it
  • #89
  • Oct 4, 2014 6:24am Oct 4, 2014 6:24am
hoping you hit your target
some comments:
i) you cant get what you need,you can get what can you get or whats given. dont corrolate your trades to your needs
ii) instead of making confess by writing here what you did wrong & free your soul, just dont do it
iii) I would trade only majors

happy trades

Quoting Eur Usd
so after nearly 3 weeks the only good thing is I still haven't ruin my account. Bad trades, forcing trades, anger revenge trades, lack of patience is killing me, besides often price hits my s/l an gets back the direction I predicted. After reading and understanding trades of previous link (james 16 summary) I am adding these patterns to the method and will be looking for them at 10/50 ema 35 sma. Besides I am not sure If I shouldn't lower amount of pairs I trade. At the moment it is: EUR/USD - rather watch it, as last few months it was bad for...
My Best Trade is Next Trade!
  • #90
  • Oct 4, 2014 6:40am Oct 4, 2014 6:40am
The final words are those to remember...your success depends only on you!

If you don't mind me to ask, about your last 3 closed trades...
EUR/JPYBuy 137.574 Sell 137.306
Oct 3, 2014 9:11am
Oct 3, 2014 9:14pm
0.016-2.7%-£2.45-26.8Open Chart£84.29£0.0012 hr
EUR/JPYBuy 137.568
Sell 137.306 Oct 3, 2014 9:08am
Oct 3, 2014 9:14pm
0.016-2.6%-£2.39-26.2Open Chart£86.74£0.0012 hr
EUR/JPYBuy 137.549
Sell 137.306 Oct 3, 2014 9:02am
Oct 3, 2014 9:14pm
0.016-2.4%-£2.22-24.3Open Chart£89.13£0.0012 hr

Cant help to notice that they are placed all within 9 min timespan, all with the same size...and moreover all with the almost exact price; what made you to do this?
it seems you ended up with about 3x your usual position size, what wouldn't be a matter if it would be a winner, I guess, but it isn't.
I also understand the positive pyramiding but even for scalping <1 pip distance is quite close...and having like 25+ pips SL, I would like to think it wasn't scalping you try to do anyway.
I hope you don't mind the question, it is genuine interest in your trade.
And if not yet too much, have still another one...
Noticed that above you mentioned pairs EURAUD and GBPJPY...I am not familiar with Oanda's spread, but seeing my own broker's on mini account -ECN is a different matter- these pairs carry a rather large spread about 3-4x of that EURUSD or USDJPY. I think for smaller timeframe like M15 you mention, they carry some added drag as inherently longer move to breakeven, or say a shorter distance to intended SL. I know, GJ tend to move more wildly, but that works as much against you, as for you...just saying.

Only asking because I recently moved down from a ECN mini account to a Mini account with my broker, to better address position size vs. equity; on ECN the min. size was 0.1 lot, that is little adventurous for my current equity, even though now I suffer from the spread more, and had to exclude mentioned pairs there and a few others due the very high spread, 4-5-6 pips.
there is always, always another trade!!
  • #91
  • Oct 4, 2014 7:11am Oct 4, 2014 7:11am
Quoting profitfarmer
If you don't mind me to ask, about your last 3 closed trades... ...and moreover all with the almost exact price; what made you to do this? it seems you ended up with about 3x your usual position size
Of course I don't mind asking ;-) .The main reason was rage and disappointment after few lost trades (usually after price hits my s/l goes my way). I looked at 1 day chart and I've seen what then seemed to be formation called Pinocchio: http://www.forexfactory.com/showthre...31#post7778531 - point is that entry should be after close of the last bar, and the formation broke (137.40 seemed to be support for a while so I thought it will stay this way till candle closes, unfortunately it went down and 137.40 became resistance point) . If it was not weekend I would stay open and probably earn on it anyway (I bet on Monday it will hit 138.00), but I never leave open positions on weekend - you never know what might happen - earthquake, tsunami, bad news, alien ants attack - you name it , few weeks ago GU dropped down 200 pips over weekend), so I prefer to close with loss and be safe, especially I am still learning and 6 pounds loss is not much.

Quoting profitfarmer
... Noticed that above you mentioned pairs EURAUD and GBPJPY...I am not familiar with Oanda's spread, but seeing my own broker's on mini account -ECN is a different matter- these pairs carry a rather large spread about 3-4x of that EURUSD or USDJPY. ...
spread on EA is nearly as low as EU, GJ is about 3 pips, so still not that bad. Out of them I mentioned I focus mostly on GU,EA and EJ
On my way to financial independence - if others can do it - I can do it
  • #92
  • Oct 4, 2014 7:16am Oct 4, 2014 7:16am
Quoting MAM.Trader
hoping you hit your target some comments: i) you cant get what you need,you can get what can you get or whats given. dont corrolate your trades to your needs ii) instead of making confess by writing here what you did wrong & free your soul, just dont do it iii) I would trade only majors happy trades {quote}
I hope so as well ;-)
Point is I know all the wise forex words about success etc, just keep working on myself, and it takes years ;-)
Thanks for dropping in ;-)
On my way to financial independence - if others can do it - I can do it
  • #93
  • Oct 4, 2014 9:02am Oct 4, 2014 9:02am
Thanks for your answer.
Best to try to avoid this sort of rage trades, lol. If rage, the least that they produce some profit as outcome!
I definitely agree and big fun of no open trades being carried over the weekend...just 2 weeks ago my broker produced fantastic closing spikes for the week, and it isn't the only broker and only time I have seen it happen. But simply widening up the spread can result enough headache too, that I really don't want.

Good luck next week! As long as you learnt some lessons from those trades -14$ is way cheaper than many questionable forex course, that is what I think.
there is always, always another trade!!
  • #94
  • Oct 4, 2014 9:07am Oct 4, 2014 9:07am
Quoting profitfarmer
Thanks for your answer. Best to try to avoid this sort of rage trades, lol. If rage, the least that they produce some profit as outcome! I definitely agree and big fun of no open trades being carried over the weekend...just 2 weeks ago my broker produced fantastic closing spikes for the week, and it isn't the only broker and only time I have seen it happen. But simply widening up the spread can result enough headache too, that I really don't want. Good luck next week! As long as you learnt some lessons from those trades -14$ is way cheaper than...
I see no point in paid forex courses where all you need can be found for free. rest is just practising and finding whatever suits you best
On my way to financial independence - if others can do it - I can do it
  • #95
  • Oct 4, 2014 9:19am Oct 4, 2014 9:19am
Quoting Eur Usd
{quote} I see no point in paid forex courses where all you need can be found for free. rest is just practising and finding whatever suits you best
Exactly!
And practicing only worth with live account, beyond learning the platform itself.
there is always, always another trade!!
  • #96
  • Oct 9, 2014 8:57am Oct 9, 2014 8:57am
profitable day today. not sure if it's ust luck or skill. we'll see how it looks tomorrow. What I did I decided to focus on less pairs and keep less as "spare"
pairs to focus on are GU, EA, EJ plus watching EU. rest of pairs are spares.
All my trades were on EJ, and I was closing them without greed. even 7-8 pips are good.
On my way to financial independence - if others can do it - I can do it
  • #97
  • Oct 9, 2014 9:48am Oct 9, 2014 9:48am
Quoting Eur Usd
profitable day today. not sure if it's ust luck or skill. we'll see how it looks tomorrow. What I did I decided to focus on less pairs and keep less as "spare" pairs to focus on are GU, EA, EJ plus watching EU. rest of pairs are spares. All my trades were on EJ, and I was closing them without greed. even 7-8 pips are good.
congrats!
7-8 pips are plenty enough, just keep them coming. I am happy with even less, and the account is green, that matters, right?
as for the pairs, cant agree more. sometimes the less is more, you have more time watching each of the fewer pairs, and probably get a better feel about how it moves.
since for the time being I trade a mini account, I also want to see my pair to have no more than 1.5 pips spread, preferable less...simple a quicker BE/profit...as well less cost of trade from the beginning...that equals to me as better chance to close in profit; the ultimate goal.
there is always, always another trade!!
  • #98
  • Oct 10, 2014 6:06am Oct 10, 2014 6:06am
another day of quick hit and run trades. Enough for this week. No point being greedy ;-)
Have a good weekend whoever reads this thread ;-)
On my way to financial independence - if others can do it - I can do it
  • #99
  • Oct 10, 2014 6:27am Oct 10, 2014 6:27am
Quoting Eur Usd
another day of quick hit and run trades. Enough for this week. No point being greedy ;-) Have a good weekend whoever reads this thread ;-)
Nice winning streak!
Have a good weekend.
  • #100
  • Oct 10, 2014 6:34am Oct 10, 2014 6:34am
Quoting srt
{quote} Nice winning streak! Have a good weekend.
Thanks, but it could be nothing than luck. I will see how it goes about 300 trades from now. after 300-500 good trades I will start adding to the account.
On my way to financial independence - if others can do it - I can do it
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