7 years I went through hell, but I am still alive | Page 3 | Forex Factory

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7 years I went through hell, but I am still alive

  • #41
  • Nov 2, 2016 9:20am Nov 2, 2016 9:20am
pls ignor me, guys. i am just practicing my english, some comtemplation may be usefull though.

i welcome any question.

i do not have so-called trading system. all transactions made are based on thr way i understand the price movement
may trend be with you
  • #42
  • Nov 2, 2016 2:02pm Nov 2, 2016 2:02pm
Quoting wentao
{quote} hi, i saw ur explorer summary. some advices you may use. from point view of mine, u overtrade, u little bit overleverage, and u never stop loss. have good one
Over trade : never
Over leverage : never , maximum 1:15
Never used stop loss : yes
http://www.myfxbook.com/members/prac...244-usd/980717
https://www.mql5.com/en/signals/80643

It took 1 year to learn money management and trading mathematics.

Keeping my drawdown between 30% to 40%, in between 10% from last 1 year.

Since I have a continuous Withdrawal , which leads to less increase in capital.

Increase in capital will lead to drop in drawdown with time.
Thanks
Prachait Saxena
  • #43
  • Nov 2, 2016 6:15pm Nov 2, 2016 6:15pm
Quoting star100
www.myfxbook.com/members/Elada/elaxm001/1765062 Anything is possible in forex.... dont set limits.... just trade
lol, nice stat.
little hard to believe though.
if real, starting with 1$, compounding it, you would sit at 7366079$ + change...yep, over seven million starting from 1.
if it is real....

i would be tempted to risk 1$ on such PAMM
but then once in a while i play lottery too. who knows.
there is always, always another trade!!
  • #44
  • Nov 4, 2016 9:35am Nov 4, 2016 9:35am
[quote=wentao;9230030]i screwed long Cable last week when i set up buy limit. i got 1500 dollars floating loss for this pair for whole week. i got little bit angry with myself this morning when i was watching the chart, so i closed all positions with $400 profit. i know if i keep thise postion running i can make thousand dollars eventually, but i think .....

i lost my postion emotionally. jessy livermoor was right that losing postion is something no one can afford.
anyway , let bygone be bygones. c'est la vies . life goes on. trading opportunity is alway there. new entry chance shows up, so i continue to long us/mxn,
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may trend be with you
  • #45
  • Nov 4, 2016 9:41am Nov 4, 2016 9:41am
do not underestimate the 15 dollars floating profit. just imagine someone is working in Macdonalt restaurant for one hour just for you. i will force him to work at least three hours for me then give me all the money
may trend be with you
  • #46
  • Nov 9, 2016 10:04pm Nov 9, 2016 10:04pm
election effect brought me some profit from shorting Mexico dollars. cad/jpy and nzd/usd also worked in Macdonalt restaurant whole day for me.
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may trend be with you
  • #47
  • Nov 9, 2016 10:12pm Nov 9, 2016 10:12pm
after big bounce back, i short cad/jpy, netherland 25, and hongkong 33
may trend be with you
  • #48
  • Nov 9, 2016 10:25pm Nov 9, 2016 10:25pm
from point view of mine, any mechanical, mathmatical, or physical method will fail for trading eventually
may trend be with you
  • #49
  • Nov 10, 2016 12:42am Nov 10, 2016 12:42am
Attached Image

It can be done my friend,discipline ,MM and screen time,there are NO short cuts in this game,best of luck,GW.
IMPROVISE ADAPT OVERCOME
  • #50
  • Nov 10, 2016 7:22am Nov 10, 2016 7:22am
most people fail in market bcoz most main stream concepts are wrong , or misunderstood. people are been brainwashed repeatly by those specious concept. the way of turtle failed, Gann did no succeed, wave theory owner never made money from market, etc, most famous trading book authors become a trading teacher instead of making more money from market. people treat those books like trading bible. tell me, what can u learn from them twhen ur teachers even dont know how to consistently make money?

think out of box?

no,

think without box!

finding ur own way is the only way out
may trend be with you
  • #51
  • Nov 10, 2016 7:48am Nov 10, 2016 7:48am
Quoting wentao
most people fail in market bcoz most main stream concepts are wrong , or misunderstood. people are been brainwashed repeatly by those specious concept. the way of turtle failed, Gann did no succeed, wave theory owner never made money from market, etc, most famous trading book authors become a trading teacher instead of making more money from market. people treat those books like trading bible. tell me, what can u learn from them twhen ur teachers even dont know how to consistently make money? think out of box? no, think without box! finding ur own...
Good advice
Let Market Tell You
  • #52
  • Nov 11, 2016 7:09am Nov 11, 2016 7:09am
i violated more than half Gann's trading rules, like never average loss, dont guess bottom ,always setup stop loss, etc , then ironically i started to make money.
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may trend be with you
  • #53
  • Nov 11, 2016 7:23am Nov 11, 2016 7:23am
never guess top or bottom? if top and bottom exists, why not?

never average loss? fuck off! to me, that just means a better position.

risk reward ratio? this bullshit fools people for hundred years.

always setup stoploss? well, sometimes ido, but not always
may trend be with you
  • #54
  • Nov 11, 2016 7:30am Nov 11, 2016 7:30am
let me guess a top, short wallstreet 30. I don't know how long i will hold this position, because i often do improvisation
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may trend be with you
  • #55
  • Nov 11, 2016 7:58am Nov 11, 2016 7:58am
guys, forgive my rude language and Yoda grammar. howerver, no matter what kind of bullshit i am dumping here, pls be advised that my trading lot size is always very small, that is the first key to succeed.

reagard
may trend be with you
  • #56
  • Nov 27, 2016 7:18am Nov 27, 2016 7:18am
how's trading going ?
  • #57
  • Nov 27, 2016 9:32am Nov 27, 2016 9:32am
Quoting wentao
never guess top or bottom? if top and bottom exists, why not? never average loss? fuck off! to me, that just means a better position. risk reward ratio? this bullshit fools people for hundred years. always setup stoploss? well, sometimes ido, but not always
Ni hao wentao

I too did 7 years of hell
I agree with everything you have said. Very good thread, thank you for sharing.

Your position sizing advice will be helpful to anyone who is going through the hell currently

I too sometimes use stop losses and sometimes don't. Ofcourse you need to know how to unwind a losing position with minimal losses and that takes time and practice to learn how to make the correct decisions instead of reacting when the heat is on

Like you I also sometimes doubledown on loser and scale out when profits come.

Although I do have a desktop with double monitors, like you I almost exclusive trade on a smartphone and I can find the levels to trade from just as easily on that as I can on my multi timeframe double monitor set up. The best advantage of the smartphone for me is I can monitor the market anytime and capture more opportunities

I agree it is very simple to beat the spread but, like you, I do it using many varied techniques and those did not come from books and took a long time to learn

I would like to add something that you have not mentioned yet and I believe is the most important, and most overlooked aspect of successful trading.

Psychology. What you believe about yourself will determine your ability to take profit from the market. Fortunately I did at least enough developmental work during my seven years of hell and that is what made the difference for me. I would like to know your thoughts on this

Safe trading to you

Regards

Doug
BTC Return This Year: na
  • #58
  • Nov 27, 2016 6:27pm Nov 27, 2016 6:27pm
Quoting MXT
how's trading going ?

hello, MXT

thx for asking. been busy recently. my trading is not good. biggest drawback took place in November. i cut loss three times for same pair and lost 1500 dollars due to perverted JPY. currently have 2000 dollars floating loss from stockindex, no pressure on those positions though..
may trend be with you
  • #59
  • Nov 27, 2016 6:48pm Nov 27, 2016 6:48pm
Quoting M.A.C.Doug
{quote} Ni hao wentao I too did 7 years of hell I agree with everything you have said. Very good thread, thank you for sharing. Your position sizing advice will be helpful to anyone who is going through the hell currently I too sometimes use stop losses and sometimes don't. Ofcourse you need to know how to unwind a losing position with minimal losses and that takes time and practice to learn how to make the correct decisions instead of reacting when the heat is on Like you I also sometimes doubledown on loser and scale out when profits come. Although...
ni hao ,Doug

thanks for the nice and long reply, i sincerely appreciate. i am very glad to know we have a lot in common. i read ur reply carefully and have lot to say , but i can only give a quick reply now due to time issue and especialy my language problem. pls allow me find another day that i can freely sit down and talk. see, this quick reply cost 15 minutes yet.

regard
may trend be with you
  • #60
  • Nov 28, 2016 1:44pm Nov 28, 2016 1:44pm
Quoting wentao
{quote} hello, MXT thx for asking. been busy recently. my trading is not good. biggest drawback took place in November. i cut loss three times for same pair and lost 1500 dollars due to perverted JPY. currently have 2000 dollars floating loss from stockindex, no pressure on those positions though..
Hi Wentao , if you're long US indices , hold on to your longs , bull run is not over yet
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