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Why Can't I Trade?!

  • #61
  • Jun 14, 2015 3:35am Jun 14, 2015 3:35am
WC 140615 Thoughts

EurUsd - Long

GbpUsd - Long

So if EurUsd stays above 11140 I will continue to look to long this pair during the week looking for 11400+

If GbpUsd stays above 15430 again I will remain in a long only state as I think we will aim for 15800 this week.

Trades will be triggered during opening sessions looking for runs on stops around old highs and lows or around the support and resistance areas I have noted. 15330 in GbpUsd interests me.

If the above levels don't hold then I am prepared to change my bias.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EurUsd 1406.png Size: 29 KB
Click to Enlarge Name: GbpUsd 1406.png Size: 37 KB
  • #62
  • Jun 14, 2015 4:11am Jun 14, 2015 4:11am
Quoting downandout
As said above 400 means I will look to use 3% per trade
Wow.... !!

I'm currently in the process of developing my own strategy and I'm working on a 0.5% risk of the overall account per trade.....
  • #63
  • Jun 14, 2015 4:24am Jun 14, 2015 4:24am
Quoting Chorlton
{quote} Wow.... !! I'm currently in the process of developing my own strategy and I'm working on a 0.5% risk of the overall account per trade.....
Nice discipline, good luck.
  • #64
  • Jun 14, 2015 4:38am Jun 14, 2015 4:38am
Quoting downandout
{quote} Nice discipline, good luck.
My advice would be to try to drop your risk % as well. If you can't due to the funds you currently have, then wait until you have acquired some more money.
  • #65
  • Jun 14, 2015 5:59am Jun 14, 2015 5:59am
Free Advice(we know whats that worth): Its critically important to keep on trading. be it smaller lots ,micro lots, demo's, or whatever and on each and every failed trade to perform what I all an autopsy. Attempt to discover exactly what went wrong with the trade. be it a failure in analysis, execution,, trade management, broker performance, personal carelessness, and endeavor, difficult as it may be, to avoid making the same or similar errors in the future. (a truly daunting task ) Then modify your system/ approach to accommodate your new understanding. At some future point in time, it may be days, weeks or years away(it was years in my case) you will experience an epiphany,a moment of electric clarity,in which you understand with perfect surety how to trade and be consistently profitable. One such " eureka " moment will inevitably lead to others, perhaps on a lesser scale than the initial one, but still very important.The foregoing is what has worked for me and I hope you will also find it rewarding.
  • #66
  • Jun 14, 2015 10:41pm Jun 14, 2015 10:41pm
Downandout what is the avg winner in terms of pips you are aiming? I would recommend keeping your losing trades at least half the pips of a winning trade. I try to look at trading systems in blocks of 1000 trades, to smooth out randomness. For me, when on the losing side of a trade I take discretion completely out - by setting and forgetting a SL. Earlier in my trading I let too much discretion exist on losing trades and it burned me. Discretion's place is on winning positions "should I let this winner keep running? Where can I move the SL up to and lock in at least 2x my avg loser."
Patience like a Cheetah - awaiting the exact right moment.
  • #67
  • Jun 15, 2015 2:33pm Jun 15, 2015 2:33pm
Quoting ForexCheetah
Downandout what is the avg winner in terms of pips you are aiming? I would recommend keeping your losing trades at least half the pips of a winning trade. I try to look at trading systems in blocks of 1000 trades, to smooth out randomness. For me, when on the losing side of a trade I take discretion completely out - by setting and forgetting a SL. Earlier in my trading I let too much discretion exist on losing trades and it burned me. Discretion's place is on winning positions "should I let this winner keep running? Where can I move the SL...
Usually 40 pips is where I look to take profit with my typical stop being anything from 12 -20pips as an average although sometimes ill go as much as 30.
  • #68
  • Jun 15, 2015 3:07pm Jun 15, 2015 3:07pm
Hi, don't want to sound harsh but take this advice for what it is: clear your mind. Your charts look like shit with lines all over the place. That's an ingredient for confusion not the stillness you need to "listen", "tune in" and "go" with "the flow". Also, make rules, write them down but don't forget to break them. Be free, just trade. Don't try to "achieve" anything and you will see anxiety will go away. And always remember that in order to win other people need to lose. So, final food for thought: how do you know that you are right, if others are not wrong first?

Kind regards and good luck!
  • #69
  • Jun 15, 2015 3:52pm Jun 15, 2015 3:52pm
Quoting SKohn
Hi, don't want to sound harsh but take this advice for what it is: clear your mind. Your charts look like shit with lines all over the place. That's an ingredient for confusion not the stillness you need to "listen", "tune in" and "go" with "the flow". Also, make rules, write them down but don't forget to break them. Be free, just trade. Don't try to "achieve" anything and you will see anxiety will go away. And always remember that in order to win other people need to lose. So, final food for thought: how do you know that you are right, if others...
Zoom in to the charts and see how price reacted at those levels today - shit they are not. Each and every one trades differently and I look for my levels to hit a marked support or resistance and then I look for the buy or sell signal after that.

As price bounded off the 15484 level I missed the entry at 15514 as wasn't at the chart. This reaction along with my long expectation today meant I was comfortable taking the breakout at 15538 which I closed for +50pips a few hours later.

I have my rules written down although I don't agree with the message to forget them, this is the issue I am having if you read the original post although I do agree that not trying to achieve a specific amount or goal can help with loosening anxiety.

A question back to you - if you don't have areas marked for support and resistance what are you looking for during the day. It may just be me but I prefer to have a level in mind where if price hits and reacts I can then zoom in and look for the level to offer a buy or sell signal.

Often a price level will be hit and reaction takes place, on the first pullback is usually the best place to get in but sometimes if missed I will take the breakout trade.
Attached Image (click to enlarge)
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  • #70
  • Jun 15, 2015 4:46pm Jun 15, 2015 4:46pm
From reading the op, here is my opinion.


You are heavily trying to race way to the end where you are a winner, while not doing your due diligence. You know you have so many problems, yet you are still pushing on without addressing them (thats why you keep fucking up on the same mistakes). You are at war with yourself right now: You mind and logic tells you what is wrong, and you "know" it, but your emotions do not want to believe it, and your actions follow your emotions.

source: I've been through it
  • #71
  • Jun 15, 2015 9:52pm Jun 15, 2015 9:52pm
Quoting downandout
{quote} Usually 40 pips is where I look to take profit with my typical stop being anything from 12 -20pips as an average although sometimes ill go as much as 30.
That is reasonable. What is your Win Loss ratio? %
When looking at 100+ trades.
Patience like a Cheetah - awaiting the exact right moment.
  • #72
  • Jun 16, 2015 3:20am Jun 16, 2015 3:20am
Quoting jwlee7ucla
From reading the op, here is my opinion. You are heavily trying to race way to the end where you are a winner, while not doing your due diligence. You know you have so many problems, yet you are still pushing on without addressing them (thats why you keep fucking up on the same mistakes). You are at war with yourself right now: You mind and logic tells you what is wrong, and you "know" it, but your emotions do not want to believe it, and your actions follow your emotions. source: I've been through it
Yeah thats fair to a degree although this thread is solely to address those issues. Emotionally trade management and position sizing have had the most negative affect on my account balance which have come from trying to "make it" too quickly rather than focussing on the process.

This is something I am working hard on with this thread as my documentation.
  • #73
  • Jun 16, 2015 3:22am Jun 16, 2015 3:22am
Quoting ForexCheetah
{quote} That is reasonable. What is your Win Loss ratio? % When looking at 100+ trades.
Can only base this on last 62 trades but the % is 44% with average win at 20pips and average loss at 15 pips. Alarmingly (position size on loser) means my average loss losing more equity than my average winners are gaining.
  • #74
  • Jun 16, 2015 12:30pm Jun 16, 2015 12:30pm
Quoting downandout
{quote} Zoom in to the charts and see how price reacted at those levels today - shit they are not. Each and every one trades differently and I look for my levels to hit a marked support or resistance and then I look for the buy or sell signal after that. As price bounded off the 15484 level I missed the entry at 15514 as wasn't at the chart. This reaction along with my long expectation today meant I was comfortable taking the breakout at 15538 which I closed for +50pips a few hours later. I have my rules written down although I don't agree with...
This was todays missed opportunity. Price hit the support area at 15558 and pushed though but then immediately pushed back above the level, the long signal was on the re touch of this level.

Take profit would be the old highs at 15630 which is also another marked level.

Although I didnt take this trade I am documenting it as this is generally a typical trade for me so shows what I look for and also shows consistency to me through the journal that the setup is a good probability trade for me when it next appears.
  • #75
  • Jun 17, 2015 2:59am Jun 17, 2015 2:59am
Quoting downandout
{quote} This was todays missed opportunity. Price hit the support area at 15558 and pushed though but then immediately pushed back above the level, the long signal was on the re touch of this level. Take profit would be the old highs at 15630 which is also another marked level. Although I didnt take this trade I am documenting it as this is generally a typical trade for me so shows what I look for and also shows consistency to me through the journal that the setup is a good probability trade for me when it next appears.
Why did you miss the trade?
Markets wispers, just tune in.
  • #76
  • Jun 17, 2015 5:29am Jun 17, 2015 5:29am
Quoting jwlee7ucla
From reading the op, here is my opinion. You are heavily trying to race way to the end where you are a winner, while not doing your due diligence. You know you have so many problems, yet you are still pushing on without addressing them (thats why you keep fucking up on the same mistakes). You are at war with yourself right now: You mind and logic tells you what is wrong, and you "know" it, but your emotions do not want to believe it, and your actions follow your emotions. source: I've been through it
Thats the best advice you will get my friend. Listen to your gut. Emotions are natural but need to be beaten away in this game. I can now watch 2% of my account disappear on a trade without batting an eyelid, this can happen several times in a row if I am having a particularly tough run.

It is you against the house man. If you fully trust your system then you can trade with no emotion and no regrets, knowing that the market offers constant opportunities and that your method will capitalise on these in the future. When you lose your shit with the markets just chill out, close the computer and get away. DO NOT CHASE LOSSES, that is one sure fire way to rip an account to pieces.

Personally I just use R/S lines like yourself and observe PA around these critical levels. I never have more than 4 levels marked at any one time, mainly to avoid analysis paralysis. If I miss a trade in between these levels (no mans land) then so be it. If I get my setup on these levels I can pull the trigger and close the chart. Don't get me wrong I struggle not to watch the trade take place but I recognise that this is the stage where I am most likely to screw things up, so I just let it be.

I try not to be greedy, all trades are set up at 2:1, if it runs 7:1 then once again so be it, I "missed out". The emotional rollercoaster of micro managing a trade to squeeze out every last pip is a stress that I do not need. I just want consistent 2:1, nothing worse than widening your TP to have a guaranteed 2:1 reverse to BE or even a loss.

My whole strat is based around surfing up/down the biggest intraday moves; caused when the man behind the mirror executes the highest volume movements.

Anyway I have waffled.
  • #77
  • Jun 17, 2015 7:55am Jun 17, 2015 7:55am
Limit your risk and be more disciplined. You should work more on psychology.
  • #78
  • Edited 9:13am Jun 17, 2015 8:13am | Edited 9:13am
Do you really think you can make millions sitting on your ass just wearing your pajamas in the privacy of your home ?
You will "trade" when the pain of failing is greater than the pain of winning.
If your "trading" makes you suffer, you are still not there yet.
You must get an absolute conviction of no hope - and perhaps even considering suicide as an option.
When you get there, you won't know it, but you will be ready to win.
Most never come back... and then there is still the 99.9999 % that don't make it.
  • #79
  • Jun 17, 2015 9:07am Jun 17, 2015 9:07am
"There is only one thing that makes a dream impossible to achieve: the fear of failure." – Paulo Coelho
  • #80
  • Jun 17, 2015 1:39pm Jun 17, 2015 1:39pm
Quoting Mingary
Do you really think you can make millions sitting on your ass just wearing your pajamas in the privacy of your home ? You will "trade" when the pain of failing is greater than the pain of winning. If your "trading" makes you suffer, you are still not there yet. You must get an absolute conviction of no hope - and perhaps even considering suicide as an option. When you get there, you won't know it, but you will be ready to win. Most never come back... and then there is still the 99.9999 % that don't make it.
Love your approach. Trying to scare the shit out of fellow traders.. Cause if you succeed, market would get them to the knees sooner or later anyway..so they have yet to man up.

And those who embodied enough confidence in themselves will just have a good laugh..
Markets wispers, just tune in.
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