Tim's £500 marathon. Goal £1 million | Page 34 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Single Strike -> Epic Win (500% return, at 500:1) 72 replies

$500 to Million in 11 months - Higher Risk vs. Higher Reward EA 21 replies

Goal: Double account balance every month?! 73 replies

Modest Goal? 10 replies

What is your long term goal? 7 replies

Attachments: Tim's £500 marathon. Goal £1 million
Exit Attachments

Tim's £500 marathon. Goal £1 million

  • #661
  • Apr 26, 2015 4:18pm Apr 26, 2015 4:18pm
Quoting Bones
exactly that ,anyway I do trade high leverage generally still feed, if I need , {quote}
So you were willing to lose the whole account starting out? Or super tight stops?
Fix up, trade sharp ...
  • #662
  • Apr 26, 2015 11:00pm Apr 26, 2015 11:00pm
Quoting TimTheTrader
{quote} Thats great bro. Getting experience is the best way to learn. You're right there is a massive difference between live and demo, but eventually you will need to make that transition. I know that once you continue to practice you will improve, its just like with anything in life. Good luck bro
That's right Tim, Practice will make me improve.
I was afraid to trade on live account at first, but just like you said.. that's I HAVE TO make that transition.
Succeed in demo doesn't guarantee success at live account. but success at live account (even it small) it prove our trade's quality (technically and mentally) and bigger numbers is just the multiply from lot or capital, but we already have our mental and psychology trained in the right track.

Just like Power Ranger meme that I read today....

"Learn from the Power Rangers, If you don't transform/change, then You'll lose".
  • #663
  • Edited 11:49pm Apr 26, 2015 11:26pm | Edited 11:49pm
I can tell you the what next went to 120,000 ,then I lost 40,000 in one day ,moral is the market will prove you wrong
these days I employ stop to break even before adding
like I say I also prefer to keep the account light ,for reasons which are until it hits your bank it dosent seem real ,sort of protection stop
but subsequently look at Alpari /chf situ ,I don't know why someone would leave large amounts of money with their broker now at all ,
if your looking at it like a business , aways keep money back whatever your trading,if you need it its instant to add
I might add I have no Idea why some one would trade lots ,??? ,if someone knows the benefit please say
trade spread bet currency in your own currency ,so you can say 50p per point or 1 per point ,and not have to figure out what a lot is
or consider exchange rate

Quoting Hickson
{quote} So you were willing to lose the whole account starting out? Or super tight stops?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #664
  • Apr 27, 2015 1:25am Apr 27, 2015 1:25am
Quoting Bones
I can tell you the what next went to 120,000 ,then I lost 40,000 in one day ,moral is the market will prove you wrong these days I employ stop to break even before adding like I say I also prefer to keep the account light ,for reasons which are until it hits your bank it dosent seem real ,sort of protection stop but subsequently look at Alpari /chf situ ,I don't know why someone would leave large amounts of money with their broker now at all , if your looking at it like a business , aways keep money back whatever your trading,if you need it its...
Fix up, trade sharp ...
  • #665
  • Apr 29, 2015 10:20am Apr 29, 2015 10:20am
Quoting slianto
{quote} That's right Tim, Practice will make me improve. I was afraid to trade on live account at first, but just like you said.. that's I HAVE TO make that transition. Succeed in demo doesn't guarantee success at live account. but success at live account (even it small) it prove our trade's quality (technically and mentally) and bigger numbers is just the multiply from lot or capital, but we already have our mental and psychology trained in the right track. Just like Power Ranger meme that I read today.... "Learn from the Power Rangers, If you...
Hey, you're right demo doesn't mean nothing becuase no matter how hard you try to take it seriously, at the back of your mind you know that you are not trading with real money and it won't affect you if you lose money

But if you want to test a system, trading a demo is ideal.
Trade smart, not hard
  • #666
  • Apr 29, 2015 7:52pm Apr 29, 2015 7:52pm
Quoting Bones
deary me ,you really believe that ,incredibly scary post {quote} {image}
perfectly normal emotion to be expected.. every successful trader goes thru such... speaking from experience... a truely successful trader is one that is humble after all the success.. IMHO...

all the best in your journey.. let's meet at the top.
practising coitus interruptus
  • #667
  • Apr 30, 2015 12:51am Apr 30, 2015 12:51am
Quoting avibe
..all the best in your journey.. let's meet at the top.
Yeah, I love it! Let's meet at the top. Being the x-percenters that actually makes it and keeps it and grows it.
Markets wispers, just tune in.
  • #668
  • Apr 30, 2015 1:14am Apr 30, 2015 1:14am
Isn't it amazing when you wake up in the morning and you've made nearly 20% gain? Lol, scored a nice hat-trick this morning and I just beat my daily max gain of 15%. Where is that little mouse who said that this was impossible? Some people struggle to make this kind of gain monthly, but I did it in a single day . Apart from that, this the first time I have made this much profit in the quickest time! .Just when I thought this month was slowing down on me, I hit jackpot . What a great way to end the month

Lol, stop posting charts and lets see the results on your LIVE ACCOUNT trade explorers, if you even have one. No believes you

Thats it, no more trading for me today, im done. Sorry if you lost money today, thats because I took it
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 54 KB
Trade smart, not hard
  • #669
  • Apr 30, 2015 1:47am Apr 30, 2015 1:47am
Quoting TimTheTrader
Hello people, this is my trading journal where I will document my trades in the FOREX market. I am also making use of the TRADE EXPLORER to asses my performance and display my trades. I have been trading FOREX on a demo account for 7 months and have decided to go live. My goal is to make 1 million! I am probably going to have A LOT of DOUBTERS, but I believe NOTHING is IMPOSSIBLE. I don't know how long this marathon will take, maybe 10 years, 5 years, a month or even a day! Lol who knows, I guess you need to stick around and find out. Enough of...

I wish you green and fat pips, TTT.
Good-Luck!
7 months demo is perfect before going life. Compliment!
(..& trading too long with a Demo (1 year) shouldn't also be perfect!)
The important attitude seems to be "making experience in life"!
FXcube
  • #670
  • Apr 30, 2015 3:18am Apr 30, 2015 3:18am
Quoting TimTheTrader
Isn't it amazing when you wake up in the morning and you've made nearly 20% gain? Lol, scored a nice hat-trick this morning and I just beat my daily max gain of 15%. Where is that little mouse who said that this was impossible? Some people struggle to make this kind of gain monthly, but I did it in a single day . Apart from that, this the first time I have made this much profit in the quickest time! .Just when I thought this month was slowing down on me, I hit jackpot . What a great way to end the month Lol,...


Which one are you ? (:

Four Kinds Of Horses
http://2.bp.blogspot.com/-EfUUySO6Aq...%2BPicture.jpgWhich One Are You?

Heres a quote from Zen Mind, Beginners Mind, The Marrow of Zen by Shunryu Suzuki.
In our scriptures (Samyuktagama Sutra, volume 33), it is said that there are four kinds of horses: excellent ones, good ones, poor ones, and bad ones. The best horse will run slow and fast, right and left, at the drivers will, before it sees the shadow of the whip; the second best will run as well as the first one does, just before the whip reaches its skin; the third one will run when it feels pain on its body; the fourth will run after the pain penetrates to the marrow of its bones. You can imagine how difficult it is for the fourth one to learn how to run!
When we hear this story, almost all of us want to be the best horse. If it is impossible to be the best one, we want to be the second best. This is, I think, the usual understanding of this story, and of Zen. You may think that when you sit in zazen you will find out whether you are one of the best horses or one of the worst ones. Here, however, there is a misunderstanding of Zen. If you think the aim of Zen practice is to train you to become one of the best horses, you will have a big problem. This is not the right understanding. If you practice Zen in the right way it does not matter whether you are the best horse or the worst one. When you consider the mercy of Buddha, how do you think Buddha will feel about the four kinds of horses? He will have more sympathy for the worst one than for the best one.
When you are determined to practice zazen with the great mind of Buddha, you will find the worst horse is the most valuable one. In your very imperfections you will find the basis for your firm, way-seeking mind. Those who can sit perfectly physically usually take more time to obtain the true way of Zen, the actual feeling of Zen, the marrow of Zen. But those who find great difficulties in practicing Zen will find more meaning in it. So I think that sometimes the best horse may be the worst horse, and the worst horse can be the best one.
  • #671
  • Apr 30, 2015 1:24pm Apr 30, 2015 1:24pm
Hey Tim! Great job on your trades. I sent you a private message before and thanks for responding (tells me your a ordinary human... just like me!). I wanted to ask a question more in detail this time. I am now finally starting to get successful in my trades with a consistent mindset but I seem to run into problems with cutting my losses short. I have made about 35 trades this month with one being unsuccessful but the a couple of them had a bit draw down to them. A win is a win but I need to start cutting my losses short and want to understand the basic logic behind it (its not easy stepping out of a losing trade, lol).

Basically, when I take a trade, I only take them if I feel confident that if a trade won't go my way "initially... eventually it will." Its a "double confirmation" step i take before I make any trades. This might be a great thing but its something I want to eventually put to an end or put a cap on it. I have noticed that your losses tend to be around the -20 pips range. Is this a mental choice that you make to keep your losses "capped?"

I hope you don't mind explaining how do you take and accept your losses. The minute I figure that out... I feel I will be joining you on your journey!

My explorer is a live account as well.
I love forex. One day it will love me back.
  • #672
  • Apr 30, 2015 9:39pm Apr 30, 2015 9:39pm
[quote=Is this a mental choice that you make to keep your losses "capped?" I hope you don't mind explaining how do you take and accept your losses. The minute I figure that out... I feel I will be joining you on your journey! My explorer is a live account as well.[/quote]

Tim doesn't respond to questions about his trading Singha.

Stop loss should be determined in relation to market action. Position size should be determined by using the percentage of your account (PA) you want to risk and the required stop loss (SL) for the position. ie where PA = 1%, and SL = 20pips, for a $1000 account - you need to determine the position size where 20 pips equals $10.

Using the attached calculator - for a EU position in an AUD account, the lot size for the position would be .04.The way Tim sets his stop loss at the same figure all the time is because his entry is 20 pips from the most recent swing.

http://completecurrencytrader.com/Tools/position-size-calculator.php

unfortuantely it is in the taking of losses that we come to appreciate that we are (or not) losing traders. The alternative, though psychologically easier, is blown up account after blown up account.Doesn't sound to me that you have much of an edge other than trading with the trend. Money management will not make you profitable, only more profitable. Your profit must come from a definite edge, which your lack of detail regarding entry seems to show isn't there.
Enter Signature
  • #673
  • May 1, 2015 12:33am May 1, 2015 12:33am
Quoting Singha83
Hey Tim! Great job on your trades. I sent you a private message before and thanks for responding (tells me your a ordinary human... just like me!). I wanted to ask a question more in detail this time. I am now finally starting to get successful in my trades with a consistent mindset but I seem to run into problems with cutting my losses short. I have made about 35 trades this month with one being unsuccessful but the a couple of them had a bit draw down to them. A win is a win but I need to start cutting my losses short and want to understand the...

Hi,

You should consider losses as part of running business. Profit is income and loss is cost. There are no traders on the earth that have 100% winning rate. Before you enter market always set your stop loss and calculate size of position accordingly. You will avoid many stressful situation when market reverses due to unexpected events like earth quake, terroristic attack or even stupid rumour made just to make some money. Moreover, even if you are sure that trade is very good, trust me that market doesn't care about that, it will do whatever it wants Best regards and prosperous trading
  • #674
  • May 1, 2015 10:41am May 1, 2015 10:41am
Thanks for your responses and I will begin to research it more. If Tim doesn't answer in regards to his trading, I'm ok with that. I respect his reasonings.

In my opinion, it's money management that makes a trader profitable. As soon as I figure it out... I'm on my way!
I love forex. One day it will love me back.
  • #675
  • May 1, 2015 3:41pm May 1, 2015 3:41pm
I would love to know on what basis u have concluded that money management makes a trader profitable?? 😳 From my experience of becoming profitable over many years, there are a hundred and one ways to look profitable whilst u are still a losing trader and they all involve money management. It is so easy to cheat and apparently have good results on paper, but in the end, u can only cheat so long beforeit catches up to u and u loses large portion of your account, if not all of it.
Enter Signature
  • #676
  • May 4, 2015 8:57am May 4, 2015 8:57am
TE disappeared again.
Let's hope all is ok.
  • #677
  • May 4, 2015 9:17am May 4, 2015 9:17am
Quoting Mingary
TE disappeared again. Let's hope all is ok.
He's nowhere to be found during loosing days, but his mouth is full of BS when he hits the jackpot (read: one of those days when he get's lucky)
Just by looking into his trades, a proficient eye can see how big amateur he really is.

Hope he's OK
  • #678
  • May 4, 2015 10:10am May 4, 2015 10:10am
Quoting Waiter
{quote} He's nowhere to be found during loosing days, but his mouth is full of BS when he hits the jackpot (read: one of those days when he get's lucky) Just by looking into his trades, a proficient eye can see how big amateur he really is. Hope he's OK
Quoting TimTheTrader
Hello everyone! Just to let you all know, I am very much still trading, and have not blown my account, so don't mind what the DOUBTERS have to say. I deleted my trade explorer because they where having their eye on me like a hawk, stalking my linkedin... They saw that I was profitable and they didn't like that so they used some dirty tricks to take me out, and I figured it was because I was getting too much attention here which is how they found me out (My account number)! So I deleted my trade exloperer and began trading on the low.
  • #679
  • May 4, 2015 10:13am May 4, 2015 10:13am
Quoting Mingary
{quote} Which one are you ? (: Four Kinds Of Horses {image}Which One Are You? Heres a quote from Zen Mind, Beginners Mind, The Marrow of Zen by Shunryu Suzuki. In our scriptures (Samyuktagama Sutra, volume 33), it is said that there are four kinds of horses: excellent ones, good ones, poor ones, and bad ones. The best horse will run slow and fast, right and left, at the drivers will, before it sees the shadow of the whip; the second best will run as well as the first one does, just before the whip reaches its skin; the third one will run when it...
this zen and mental stuff is bs
you only need to know the truth then its like riding a bicycle
all this bs is there to distract you from the truth
rather ask yourself what the truth is
0 fcks given
  • #680
  • May 4, 2015 10:26am May 4, 2015 10:26am
Quoting Robertk
{quote} {quote}
Indeed. Hope he haven't gone ALL IN to show everybody here.
0 traders viewing now