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  • #959,061
  • Feb 10, 2015 7:42am Feb 10, 2015 7:42am
Quoting maldegnegi
{quote} That is my main goal actually. I am considering this account and the losses I made as a price for learning. It is not a significant amount for me. And demo trading is not something I can improve myself with, I can't take it serious.

You got it, keep at it.
A contrarian; I always disagree.
  • #959,062
  • Feb 10, 2015 7:44am Feb 10, 2015 7:44am
Quoting goldfinch
{quote} I am very serious, attempting that feat will keep him on his toes, he will only take trades that are spot on and he will have a goal to work towards. I am not saying he WILL achieve it, that is another matter all together. Depositing another 11k into his account will only cheapen the lesson learned. It may well take him 2 years to get back to his original deposit, but that will be 2 years well spend. You couldn't buy that kind of trading education anywhere for that money. You said that he would never be able to do it and advocated depositing...
Thank you sir, it is very true what you are saying. I may or may not reach it, I don't know but it is a goal I am working towards. I considered depositing funds but then I tought what good would that be, if I haven't figured out how to make steady pips while trading it. Anyway, I think I just call it a day. Have a pleasant day everyone.
  • #959,063
  • Feb 10, 2015 7:47am Feb 10, 2015 7:47am
Quoting maldegnegi
{quote} That is my main goal actually. I am considering this account and the losses I made as a price for learning. It is not a significant amount for me. And demo trading is not something I can improve myself with, I can't take it serious.
Psychologically you walk the right path mate! Sending more money to the account would be a big mistake. You have to feel the consecvences, or you will repeat this mistake again and again. Facing and 'digesting' the problem will make you wise and a winner long term.
f(z)=z2+c
  • #959,064
  • Feb 10, 2015 7:49am Feb 10, 2015 7:49am
Quoting Kofmaster
{quote} Good luck. I hope you have 300% every week LOL FxTyrant I wish you were here

Just because you can't don't dismiss others who have SHOWN that they can. There are plenty of piano players out there, not many can play Rachmaninoff some will always be destined to play chopsticks....


And on that bombshell I am getting back to trading, there is money to be made and kiddy posters to be ignored.
A contrarian; I always disagree.
  • #959,065
  • Feb 10, 2015 7:53am Feb 10, 2015 7:53am
Quoting goldfinch
{quote} Just because you can't don't dismiss others who have SHOWN that they can. There are plenty of piano players out there, not many can play Rachmaninoff some will always be destined to play chopsticks.... And on that bombshell I am getting back to trading, there is money to be made and kiddy posters to be ignored.
Rachmaninoff, Rachmaninoff...who is Rachmaninoff...? Crowd want Conchita Wurst.


Ok I'm out.
Don't be smart. Be rich.
  • #959,066
  • Feb 10, 2015 7:56am Feb 10, 2015 7:56am
That two spikes on H1 (M30, H4...) can be tempting to short, but m5 tells the story in my opinion.
f(z)=z2+c
  • #959,067
  • Feb 10, 2015 7:57am Feb 10, 2015 7:57am
Even the greatest empire of investment berkshire hathaway reaped a return of 20% per annum is considered very good.

Seriously I'm not trying to look down anyone.
But with the thoughts of 300% per week and consecutively is highly delusional.

Perhaps you can do it. But thoughts like this are for the poor who are so eager to grow their account into big one.

And the rich one. perhaps 20% is good enough.

O'right lets get back to trading
Read the entire market, money is made on the main trend not the fluctuation
  • #959,068
  • Feb 10, 2015 7:57am Feb 10, 2015 7:57am
Quoting hathor
That two spikes on H1 (M30, H4...) can be tempting to short, but m5 tells the story in my opinion.
seems need closes below 1.1286
  • #959,069
  • Feb 10, 2015 7:59am Feb 10, 2015 7:59am
Quoting hathor
That two spikes on H1 (M30, H4...) can be tempting to short, but m5 tells the story in my opinion.
But then there is 1270... lol
Intraday only.
  • #959,070
  • Feb 10, 2015 8:00am Feb 10, 2015 8:00am
Quoting Rockerzeus
{quote} seems need closes below 1.1286
Those spikes are full of shorts...if I would be hungry, I would eat them.
f(z)=z2+c
  • #959,071
  • Feb 10, 2015 8:02am Feb 10, 2015 8:02am
Quoting maldegnegi
{quote} That is my main goal actually. I am considering this account and the losses I made as a price for learning. It is not a significant amount for me. And demo trading is not something I can improve myself with, I can't take it serious.
That you don't have small capital restrictions doesn't mean that you can trade without proper money management. It doesn't take more than 10 seconds in your blotter to see what is your problem: You are trading over leveraged crumbs with very poor r:r trades. It doesn't take a rocket scientist to know that with or without 1mill dollars of capital you may not ever be successful in forex if you don't correct these BASIC ELEMENTS in your trading plan.

If you are/were coming from stocks, you might not be used to trade with such large margin (i think that is the main problem IMO). The weighted proportion and % of impact in capital/price moves are out of this scale if you compare with any even the most volatile stock. That simple fact, force FX traders to be extremely discipline when taking trades...

....which from your blotter is leading you to the second main problem: consistency. You are shooting over leverage at everything than moves so the relation between risk / capital and time is HORRIBLE (at least from your blotter). Risking or Gaining 5% of you account in a 10 minute trade its is a recipe for disaster even if you can top up you account 1 million times. Trading duration range from days to minutes in your blotter and ALL risking the same capital and apparently same r:r thats where you should be focusing in improving...now it looks like a guarantee for failure...

Look my 2 cents, if you want to pay a price for learning Forex, and you have the advantage of having enough capital to do it, invest it properly developing consistency in your trading plan and mastering proper money management (r:r) instead of shooting at the moon in every trade and expecting to get it by osmosis just but trial and error....

GL

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #959,072
  • Feb 10, 2015 8:05am Feb 10, 2015 8:05am
did i mention, norm likes beer?
those who can, do. those who cant, talk about those who can
  • #959,073
  • Feb 10, 2015 8:05am Feb 10, 2015 8:05am
127s.. hmm a very stromg support level for a while back now.. support seems to holding up on virtually all the time frames stretching bck a couple weeks. i am guessing we could see a significant spring above the 150s in a few weeks. not sure how much retracement can trigger that bounce.
Z
  • #959,074
  • Feb 10, 2015 8:07am Feb 10, 2015 8:07am
Quoting gatorinla
did i mention, norm likes beer?
Not sure what your norm currently is but if its 320 then it should be more of vodka guy, look at those fast shots.
  • #959,075
  • Feb 10, 2015 8:08am Feb 10, 2015 8:08am
Quoting gatorinla
did i mention, norm likes beer?
Hmm..what does it mean exactly? I know it's related to price movement, but thats all.
By the way I would like one too.
f(z)=z2+c
  • #959,076
  • Feb 10, 2015 8:14am Feb 10, 2015 8:14am
Quoting gatorinla
did i mention, norm likes beer?
Are you still waiting to reload/top up or you are aiming to ride it back?

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #959,077
  • Feb 10, 2015 8:18am Feb 10, 2015 8:18am
Last 48 hrs ( candles ), it is in a tiny range. Bears wants the price to go down. Those who are swimming against want the price to go up. Nothing happeneing. It is frustrating.
Intraday only.
  • #959,078
  • Feb 10, 2015 8:19am Feb 10, 2015 8:19am
i think its just trying to gain momentum to fly.. theres too much holding it back..
Z
  • #959,079
  • Feb 10, 2015 8:20am Feb 10, 2015 8:20am
Quoting sisse
{quote} That you don't have small capital restrictions doesn't mean that you can trade without proper money management. It doesn't take more than 10 seconds in your blotter to see what is your problem: You are trading over leveraged crumbs with very poor r:r trades. It doesn't take a rocket scientist to know that with or without 1mill dollars of capital you may not ever be successful in forex if you don't correct these BASIC ELEMENTS in your trading plan. If you are/were coming from stocks, you might not be used to trade with such large margin (i...
Dear Sisse,


I thank you very much for looking at my account and taking the time to explain me what my possible mistakes are. I can't agree more on the two problems you identified and believe me I am trying and doing everything to change the way I trade.

Money management is indeed a very important aspect of trading this asset class and clearly so far I have done a lousy job. I am not used to this kind of leverage and it actually took me a few days to understand what the total amount of EURs I am buying or selling - no kidding -and what kind of risk exposure I am trading on. I started doing some research on reading and study materials for improving myself and if you have any suggestions I would be more than happy to hear them. I checked kill's graveyard and found some very interesting stuff over there but the more the merrier.

Thank you very much sir for your sincere care and attention.
  • #959,080
  • Feb 10, 2015 8:20am Feb 10, 2015 8:20am
Close around 293 should be failure on upside for now with test of 270ish area likely.
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