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I want to pay off my mortgage asap with Choros

  • #101
  • Oct 10, 2014 6:41am Oct 10, 2014 6:41am
Quoting Eur Usd
{quote} 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.
Absolutely correct ..
BUT : .. when you have a winning streak .. you remember better how it feels to produce green pips in a row.
During a losing streak it´s hard to remember how good was it to make green pips .

I´m sure you´ll handle it .. you are on the right way..
Congrats for the right step in the right direction !

Guido
Risiko birgt immer auch die Chance.
  • #102
  • Oct 10, 2014 6:49am Oct 10, 2014 6:49am
Quoting Sesamstrasse
{quote} Absolutely correct .. BUT : .. when you have a winning streak .. you remember better how it feels to produce green pips in a row. During a losing streak it´s hard to remember how good was it to make green pips . I´m sure you´ll handle it .. you are on the right way.. Congrats for the right step in the right direction ! Guido
so true. I was really fed up with losing streak, so fedup I forgot how it is to win, so I started forcing trades with no s/l, with 100% of acount. then I told myself - I may work once or twice and give nice profits but sooner or later will turn against me. this week I was rather patient - a bit anxious as well so was closing trades fast - I could've earn much more yesterday on EJ moves, but you can't get whole move all the time. as long as I see some profit I am happy
On my way to financial independence - if others can do it - I can do it
  • #103
  • Oct 10, 2014 7:51am Oct 10, 2014 7:51am
Another winning week like this, and your account is back to green.
there is always, always another trade!!
  • #104
  • Oct 11, 2014 11:29am Oct 11, 2014 11:29am
Just found this thread a month late - I've been hiding.

This is really great and I'll be watching and cheering for you. Goals and discipline are the two most important things for trading to work IMO. I guess the same holds true for any success really.

Have you read the Think and Grow Rich .pdf included in the original Dance thread, first post? If not, you should - print it out, keep it on your shelf, and look at it often!

Good luck! Although luck has nothing to do with it.
Remember that guy who gave up? Neither does anyone else.
  • #105
  • Oct 12, 2014 6:11am Oct 12, 2014 6:11am
Quoting Sagramor
Just found this thread a month late - I've been hiding. This is really great and I'll be watching and cheering for you. Goals and discipline are the two most important things for trading to work IMO. I guess the same holds true for any success really. Have you read the Think and Grow Rich .pdf included in the original Dance thread, first post? If not, you should - print it out, keep it on your shelf, and look at it often! Good luck! Although luck has nothing to do with it.
Hey.thanks for posting. I cant remember for sure but i think i ve browsed the book. I ve read about 30 books related to trading and personal finances. Now i just keep working on myself
On my way to financial independence - if others can do it - I can do it
  • #106
  • Oct 14, 2014 5:17am Oct 14, 2014 5:17am
Next to choros 15m chart trading I will implement something for days when I cannot trade.
I did it last night - I viewed few 1day and 4h charts and made entries using sma/ema lines as per choros plus JAMES 16 price action formations. not sure why I made this long for EJ but still got nearly 1% profit over night - better than my bank give me per year on my ISA account ;-)
entries were with 50 pips s/l and position size adjusted to 1% risk per trade - about 5 times smaller positions than in my 15m chart trading. Of course the position sizes and s/l will vary in the future depending on PA formation
On my way to financial independence - if others can do it - I can do it
  • #107
  • Oct 22, 2014 10:54am Oct 22, 2014 10:54am
I must admit it - I FUCKED UP AGAIN ;-)
It's not because lost money. It's because I failed. I'd honestly give up, but I lost 4 years of my life and over 2000 Pounds to learn and I don't want to end up like guy from the picture. In theory I know a lot about position size, mm r:r ratio and so on. In practice I get into revenge mode sometimes. and that's what killed my account. I had 100 pounds last Friday so my account balance got back to 0% loss. But I wanted just a bit more, just a bit and I was already in revenge mode when I got to 100%, so had no s/l and suddenly it all went down - I was still in trade over weekend, which was mistake, I was in losing trade as I was hoping it will reverse my way. It hasn't. And now I need about 3-4 months PROPER TRADING to get my money back. 3-4 months due to 2 days of stupidity.
I will carry on but only because I spent so much time learning. I will see how it looks, but looks like it may happen I will pay my mortgage off before I learn trading properly ;-)
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On my way to financial independence - if others can do it - I can do it
  • #108
  • Oct 22, 2014 11:15am Oct 22, 2014 11:15am
Quoting Eur Usd
I must admit it - I FUCKED UP AGAIN ;-) It's not because lost money. It's because I failed. I'd honestly give up, but I lost 4 years of my life and over 2000 Pounds to learn and I don't want to end up like guy from the picture. In theory I know a lot about position size, mm r:r ratio and so on. In practice I get into revenge mode sometimes. and that's what killed my account. I had 100 pounds last Friday so my account balance got back to 0% loss. But I wanted just a bit more, just a bit and I was already in revenge mode when I got to 100%, so had...
it is no reason to feel bad about FU!
pretty much everyone has look at my trade explorer, I did too...and that after being up over 100% in a short time...just to find that 95% DD left me with 3$ equity on this account.
One can give up...or can fight.
Since it was a no losing position there and that...I chose to fight.
But I chose also to be extra more selective about my trades, since the very thin equity wont allow my scaling in scaling anymore...
5 trading days, and the equity now is about 1200% up...
Maybe this is what I did all along wrong, was getting less selective as account grew, and more hungry for new trades...
Oh, don't get mistaken, the hunger is still there.

I am not quite there yet. While the run up is amazing, but I am still only about 1/2 my staring equity....and most certainly a long way to reach a new equity peak.

At this point it is easier and harder than ever though.
Easier, as I just need about 250% more profit, what seem to be a lot less than the 1200% achieved in the last few days...
Easier, since the equity growing, leaving me more room for scaling in, sizing trades for less risk...
Harder, as from the top - ie. a good run - there is only one way to go...can strive staying there, but hard to achieve continuously, and still limited room for a DD
Harder, as scaling down trade size also mean - apart from less risk- that need more trades to pick, leaving more chance to pick wrongly.

This point it can go either way. Be as it will. I wont like losing account, I wont be rich getting back to peak.
But I know one thing that I wont give up trying!!
there is always, always another trade!!
  • #109
  • Oct 22, 2014 12:53pm Oct 22, 2014 12:53pm
Quoting Eur Usd
I must admit it - I FUCKED UP AGAIN ;-) It's not because lost money. It's because I failed. I'd honestly give up, but I lost 4 years of my life and over 2000 Pounds to learn and I don't want to end up like guy from the picture. In theory I know a lot about position size, mm r:r ratio and so on. In practice I get into revenge mode sometimes. and that's what killed my account. I had 100 pounds last Friday so my account balance got back to 0% loss. But I wanted just a bit more, just a bit and I was already in revenge mode when I got to 100%, so had...
how much is your mortgage?
  • #110
  • Oct 22, 2014 1:20pm Oct 22, 2014 1:20pm
Over 100k
On my way to financial independence - if others can do it - I can do it
  • #111
  • Oct 22, 2014 1:26pm Oct 22, 2014 1:26pm
Quoting Eur Usd
Over 100k
and how much trading equity u have ? and time ?
  • #112
  • Oct 22, 2014 1:35pm Oct 22, 2014 1:35pm
you cant pay 100k mortgage with 100$ account trust me.
  • #113
  • Oct 22, 2014 2:17pm Oct 22, 2014 2:17pm
Quoting XharpScalper
you cant pay 100k mortgage with 100$ account trust me.
I know
I wrote few times that once I get constantly profitable I will start increasing account size ;-)
On my way to financial independence - if others can do it - I can do it
  • #114
  • Oct 23, 2014 3:11am Oct 23, 2014 3:11am
Quoting XharpScalper
you cant pay 100k mortgage with 100$ account trust me.
I doubt I can be successful at all. It's emotions that kill me. I need to rest a while, read some materials, calm down, do some backtesting. At the moment I feel crap. I am about to find another job as well. Working for others is just modern slavery but it is something that we have to do till we succeed.
On my way to financial independence - if others can do it - I can do it
  • #115
  • Oct 23, 2014 3:38am Oct 23, 2014 3:38am
I thought about it and to be honest I feel like forex for private ppl is a con. Something like cassino where few will win due to luck but most will lose. And there is industry around it. People earn on blogs about forex, people do seminars about forex, write books about trading. If they do these it means they cannot trade. I myself can give advices on fx on psychology, and many more, but cannot trade myself. Only few will succeed, most won't, same like in sport, in business.
Trading forex and dreaming of better life with it is nothing different than dreaming of winning jackpot in lottery. 1 will succeed, rest will pay towards his won money.
I will stop trading for a while, need to think about my life. Maybe I was walking the wrong patch last 4 years. One thing is sure - I will keep trying to provide better life for me and my family, and I won;t give up on this target.
On my way to financial independence - if others can do it - I can do it
  • #116
  • Oct 23, 2014 4:15am Oct 23, 2014 4:15am
Quoting Eur Usd
I thought about it and to be honest I feel like forex for private ppl is a con. Something like cassino where few will win due to luck but most will lose. And there is industry around it. People earn on blogs about forex, people do seminars about forex, write books about trading. If they do these it means they cannot trade. I myself can give advices on fx on psychology, and many more, but cannot trade myself. Only few will succeed, most won't, same like in sport, in business. Trading forex and dreaming of better life with it is nothing different...
I think its a case of discipline , If you can amange that , then you can win money in FOREX trust me !!!All the talk about signals , stratergy etc is not as important as discipline , especially money management .
I am not giving up at all , I am in this for a long while
  • #117
  • Oct 23, 2014 4:27am Oct 23, 2014 4:27am
Quoting tafadzwa02
{quote} I think its a case of discipline , If you can amange that , then you can win money in FOREX trust me !!!All the talk about signals , stratergy etc is not as important as discipline , especially money management . I am not giving up at all , I am in this for a long while

true. with discipline you lose less. 2% in stead of 10-20% but still lose. Take a look at explorers of people on ff. they fo up, up up, and suddenly a cliff down. Seen only few who earned and cashed the money.
On my way to financial independence - if others can do it - I can do it
  • #118
  • Oct 23, 2014 5:25am Oct 23, 2014 5:25am
Quoting Eur Usd
{quote} true....Take a look at explorers of people on ff. they fo up, up up, and suddenly a cliff down......
sounds familiar
  • #119
  • Oct 23, 2014 5:48am Oct 23, 2014 5:48am
Quoting Eur Usd
{quote} true. with discipline you lose less. 2% in stead of 10-20% but still lose. Take a look at explorers of people on ff. they fo up, up up, and suddenly a cliff down. Seen only few who earned and cashed the money.
and these explorers are still better then most...gurus and high impacts who not not even dare to post an explorer, or if did, quickly removed...

there is some truth about having an whole industry built up, just like casinos, to suck in the hopeful.
however, I think the playgrounds here less tilted. But some truth kept quiet about, such as underfunded and same time overleveraged trading rarely will make you last.

small live practise account are ok...just take them as gambling, without minding the loss too hard...
if I go to cinema, +popcorn+coke about 15$...fun lasts 2 hours...
if I put 15$ on a micro/mini account to trade, I might last a month or 3...
sort of a hobby, what one can dream about to master and use for something larger. Like playing tennis vs. winning a Grand Slam...

I also try to take out emotion from the trading...once it is done, the rest will be up to system, and available funding.
for example, backtesting a daily breakout system...set TP/SL, so, emotion isn't there, entry crystal clear and visual...missing about a half a month data to have 100 trades, then conclusions will be summed up, and probably go on a live account.
Even better, now there is an EA test about the same system, taking even my second guessing out from the game.
there is always, always another trade!!
  • #120
  • Oct 23, 2014 6:09am Oct 23, 2014 6:09am
Quoting tafadzwa02
{quote} sounds familiar
very familliar to me ;-)
I've tried 10 pips tp no sl trading on acount that was hidden from public. worked fine. in few days I did 40% profit. and then suddenly all prices reversed just before they did hit my 10 pips tp. all went down - like a fall from cliff ;-)
Idea was good and was for fun on 5 Pounds account. I knew it will fall some day. My luck could last a week, a month, a year of luck would make me quite wealthy ;-)
On my way to financial independence - if others can do it - I can do it
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