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  • #841
  • Mar 24, 2016 7:00am Mar 24, 2016 7:00am
Quoting JoeNY
Absolutely not in vain. It's really self help/therapy. You will learn more about yourself and trading from your own post. It's kind of like thinking out loud to oneself. {quote}
JoeNY,

I have to smile when I see your TE - it's superb - why could it not be a live account? I'm saying that to all! It shows up the impact of mental attitude/emotion to Forex Trading. If were is possible for ALL of us to mirror that same blase attitude we have when demo trading we would be millionaires in no time at all! Because it reality it's possible to make huge amounts of money in this game. It is ALL mental it really is.
  • #842
  • Mar 24, 2016 7:44am Mar 24, 2016 7:44am
Quoting jmtini
{quote} JoeNY, I have to smile when I see your TE - it's superb - why could it not be a live account? I'm saying that to all! It shows up the impact of mental attitude/emotion to Forex Trading. If were is possible for ALL of us to mirror that same blase attitude we have when demo trading we would be millionaires in no time at all! Because it reality it's possible to make huge amounts of money in this game. It is ALL mental it really is.
Agreed. JoeNy, just stick a live account on to mirror that and forget about it .
  • #843
  • Edited 8:17pm Mar 24, 2016 8:07am | Edited 8:17pm
The thought of living abroad crossed my mind. US futures will not be available to me if I leave the States. I was just curious about trading CFD's via MT4 software so just testing the platform. It will do if I need. I like Australia. It's a happy place.

Quoting jmtini
{quote} JoeNY, I have to smile when I see your TE - it's superb - why could it not be a live account? I'm saying that to all! It shows up the impact of mental attitude/emotion to Forex Trading. If were is possible for ALL of us to mirror that same blase attitude we have when demo trading we would be millionaires in no time at all! Because it reality it's possible to make huge amounts of money in this game. It is ALL mental it really is.
SPC * Swollen PocketZ Crew!
  • #844
  • Mar 24, 2016 12:38pm Mar 24, 2016 12:38pm
Quoting JoeNY
The thought of living abroad has crossed my mind. Futures trading will not be available to me if I leave the States. I was just curious about trading CFD's via the MT4 software so was just testing out the platform. It will do if I need. I like Australia. It's a happy place. {quote}
South Africa is nice too!

Guys someone said that Fx trading is pure gambling. I can't agree with that. Of course one can never be 100% sure that the price is going to go in one's favour but if one is 90% sure, then the odds are heavily stacked in your favour. Also, by employing some clever "tricks of the trade" one can almost make sure one will come out ahead. Have a look at the trade in the chart below. I was sure the price would break out upwards but if it didn't and headed down again, I had a hedge sell trade to catch any down move. Of course one can only do this kind of thing at key support/resistance levels (in ths case the 100 EMA)
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 38 KB
  • #845
  • Mar 24, 2016 10:15pm Mar 24, 2016 10:15pm
Quoting Copernicus
I always keep my eyes open for those that fit into the second category.....what I refer to as the Costanza strategies.
Alas, I'm not a Seinfeld aficionado hence some of the subtlety may be lost on me. JLD is lovely as ever, though.
  • #846
  • Mar 25, 2016 7:31am Mar 25, 2016 7:31am
But i'm trading forex since 2005 and start to teach forex in 2007 but forex it's not dificult to understand but it takes time to learn the concepts . I'm develope a strategy in forex is very work, i'm working first with monthly time frame for breakout and reversal before i'm working to the litle charts to see the history of the trend to recognize true and fake signal, main support and resistance and a good money management also, with this strategy my stop loss is about 300 pips , i develope an other strategy risk 1% in every stage level .
  • #847
  • Mar 25, 2016 7:36am Mar 25, 2016 7:36am
Quoting jmtini
{quote} South Africa is nice too! Guys someone said that Fx trading is pure gambling. I can't agree with that. Of course one can never be 100% sure that the price is going to go in one's favour but if one is 90% sure, then the odds are heavily stacked in your favour. Also, by employing some clever "tricks of the trade" one can almost make sure one will come out ahead. Have a look at the trade in the chart below. I was sure the price would break out upwards but if it didn't and headed down again, I had a hedge sell trade to catch any down move. Of...

90% probability is a bit high. 52% is enough .
  • #848
  • Mar 25, 2016 7:56am Mar 25, 2016 7:56am
Quoting jmtini
Instead of quitting trading (something I have been tempted to do many times!) it's a far better idea to learn the art of trading or if you like, some skills which can help turn one's trading from negative to positive. Here's a good thread to read in that respect: http://www.forexfactory.com/showthre...84#post8835284 I outlined one little trading trick in the chart above to show why Forex trading doesn't have to be a gamble. Here's another one: If you employ a buy or sell limit trade at an expected price retracement exhaustion...
How about opening the "trend direction" trade at the price point where you would close the losing "hedge trade"...?

It would save the spread cost of the "hedge trade"... Correct?
Attached Image
  • #849
  • Mar 25, 2016 9:30am Mar 25, 2016 9:30am
Quoting MasterGuru
{quote} How about opening the "trend direction" trade at the price point where you would close the losing "hedge trade"...? It would save the spread cost of the "hedge trade"... Correct? {image}

Yes, good point I suppose. I was really looking at the mental aspect again. If you're in a trade you are forced into a decision whereas if you're not, the way price action works, as we all know, it's hard to make the decision to enter - "where do I enter, oh dear just where"!
  • #850
  • Mar 25, 2016 9:34am Mar 25, 2016 9:34am
Quoting souverain
But i'm trading forex since 2005 and start to teach forex in 2007 but forex it's not dificult to understand but it takes time to learn the concepts . I'm develope a strategy in forex is very work, i'm working first with monthly time frame for breakout and reversal before i'm working to the litle charts to see the history of the trend to recognize true and fake signal, main support and resistance and a good money management also, with this strategy my stop loss is about 300 pips , i develope an other strategy risk 1% in every stage level .
Whatever works for you personally I suppose. I've changed to the limit order style of trading because I find it works for me but everyone has his/her own pet strategy and that's what they want to trade. That's one thing I've learned. People will stubbornly stick to their pet strategies even if they're losing!
  • #851
  • Mar 25, 2016 9:39am Mar 25, 2016 9:39am
Try Sim trading first and go to FX Street university. They have a nice course
  • #852
  • Mar 25, 2016 10:26am Mar 25, 2016 10:26am
Quoting jmtini
{quote} South Africa is nice too! Guys someone said that Fx trading is pure gambling. I can't agree with that. Of course one can never be 100% sure that the price is going to go in one's favour but if one is 90% sure, then the odds are heavily stacked in your favour. Also, by employing some clever "tricks of the trade" one can almost make sure one will come out ahead. Have a look at the trade in the chart below. I was sure the price would break out upwards but if it didn't and headed down again, I had a hedge sell trade to catch any down move. Of...
What if your long gets stopped and a sell is triggered, then the market rises again and stops out your short too?
Fix up, trade sharp ...
  • #853
  • Mar 25, 2016 10:55am Mar 25, 2016 10:55am
Apparently markets are NOT RANDOM: "Rich Formula: Math And Computer Wizards Now Billionaires Thanks To Quant Trading Secrets"

- Published in Forbes Magazine in 2015: http://www.forbes.com/sites/nathanva.../#189f46c7f30d

Just a small excerpt from the article: "Sigma’s data scientists and systems analyze more than 10,000 data sources, using 75,000 CPUs with 750 terabytes of memory. Their hedge funds have executed more than 1.2 billion trades over the last 14 years."
  • #854
  • Mar 25, 2016 12:14pm Mar 25, 2016 12:14pm
Im quitting forex factory but not trading currencies
Pecuniae obediunt omnia
  • #855
  • Mar 25, 2016 12:22pm Mar 25, 2016 12:22pm
Quoting PIPot;8836274[B
Im quitting forex factory but not trading currencies
I guess finally you have arrived to the "2% Club"... Congratulations!
  • #856
  • Mar 25, 2016 1:34pm Mar 25, 2016 1:34pm
Quoting PIPot
Im quitting forex factory but not trading currencies
The most educated comment so far. Well done. Good move!
  • #857
  • Edited 1:51pm Mar 25, 2016 1:37pm | Edited 1:51pm
Quoting Hickson
{quote} What if your long gets stopped and a sell is triggered, then the market rises again and stops out your short too?

What if the price spiked 500 pips, a nuclear bomb wiped out New York, Jupiter swallowed up Venus .......................

I'm not trying to be facetious - it's all balance of probabilities isn't it?
  • #858
  • Mar 25, 2016 5:19pm Mar 25, 2016 5:19pm
Quoting jen101
{quote} Patience. {image}
Ended this week with: -3.1%, wanted +10%


F%#$ you market, I will exact revenge next week.



Angry because anything below +5% feels like a waste of time. On the other side, I could see it as only slight damage compared to recent wins.
Price-Action Extremist
  • #859
  • Mar 25, 2016 11:10pm Mar 25, 2016 11:10pm
Quoting Hickson
{quote} What if your long gets stopped and a sell is triggered, then the market rises again and stops out your short too?
That means the market is trading in ranges and you need to figure out how to trade in ranges or detect when the market is in ranges and stay out instead of getting whipsawed like this.
Make your losses in demo. Earn your profits live.
  • #860
  • Mar 25, 2016 11:16pm Mar 25, 2016 11:16pm
Quoting jmtini
{quote} What if the price spiked 500 pips, a nuclear bomb wiped out New York, Jupiter swallowed up Venus ....................... I'm not trying to be facetious - it's all balance of probabilities isn't it?
Price spiking 500 pips is NOTHING, happened all the time before the 2008 financial crisis when it wiped out half of the daily trading volume in forex. It can still happen now once the BoJ decides to do something to Yen.
Make your losses in demo. Earn your profits live.
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