I'm Nearly in THAT 90% Category

This is a discussion on I'm Nearly in THAT 90% Category within the General Trading Chat forums, part of the T2W Archive category; I read the OP and skimmed the rest, but to be fair it just looked like the ususal stuff that ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Oct 29, 2009, 11:05am   #25
 
robster970's Avatar
Joined Dec 2008
I read the OP and skimmed the rest, but to be fair it just looked like the ususal stuff that get's thrown around (including this post I suspect).

1. Your OP is loaded with emotion. Stop worrying about the money and just execute your strategy/plan - if you do this and your plan is ok, then money will come in as a consequence of flawless, cold execution.

2. If you can't deal with your emotions then this really isn't the game for you. Law pays well so why not do that instead?

3. If you're stop is within the noise for the TF then you're f****d anyway and your strategy is pants. Trading noise is just what it is - noise.

Without significant personal change and a good re-examinsation of your trading method, I think you're heading down the cul-de-sac of failure.

Good luck for the future, whichever way it pans out.
robster970 is online now   Reply With Quote
Thanks! The following members like this post: rogue8
Old Oct 29, 2009, 11:13am   #26
 
Sang Froid's Avatar
Joined Jan 2008
Sang Froid started this thread
Quote:
Originally Posted by robster970 View Post
I read the OP and skimmed the rest, but to be fair it just looked like the ususal stuff that get's thrown around (including this post I suspect).

1. Your OP is loaded with emotion. Stop worrying about the money and just execute your strategy/plan - if you do this and your plan is ok, then money will come in as a consequence of flawless, cold execution.

2. If you can't deal with your emotions then this really isn't the game for you. Law pays well so why not do that instead?

3. If you're stop is within the noise for the TF then you're f****d anyway and your strategy is pants. Trading noise is just what it is - noise.

Without significant personal change and a good re-examinsation of your trading method, I think you're heading down the cul-de-sac of failure.

Good luck for the future, whichever way it pans out.
Thank you for the words robster. Yes totally right. Emotion killed me no qualms about it. I think it is impossible to completely eliminate all emotion from trading, after all, we are human and that's what makes us human. It's how you manage those emotions, that's the key I think.

I can't remember who else said it but again you're right with the noise part. I was looking to make a quick profit here and there and not stay in a trade too long, hence trading noise or as it has been called "pissing in the wind". I've since looked at modifying my trading plan and moving up to a higher timeframe. I have a system that allows for this ( with a little tinkering). I've started to back test and looks a profitable, obviously not as many signals but then again... larger profits should reduce the need to trade so often.

The proof is in the profits from here on in!
Sang Froid is offline   Reply With Quote
Old Oct 29, 2009, 11:21am   #27
Joined Jul 2009
mate, i'm 15 but i've been at this for slightly over a year and im consistently profitable (on demo rofl).
I can't say to you about emoitons because i haven't experienced those yet, but i have lost all money invested in stocks (im into forex now).

Those 3 years should have been spent on more than just a MACD crossover, you must find a way in the markets and make your own rules , not somebody elses, so that when you trade your own rules and do it well,it will be because you understand the market from experience and constant interpretation of context.

Read this thread, rather than taking the easy way out and learning J16 rules (which are fine btw if you don't want to do it yourself) it bangs out the importance that yes, you will lose money, it does take a long time , and that we shouldn't try to reduce something as complex as the markets to a few simple rules out of a book.

We have to make our own mental map.

http://www.trade2win.com/boards/gene...-ways-now.html
TAjammy is offline   Reply With Quote
Thanks! The following members like this post: zupcon
Old Oct 29, 2009, 11:31am   #28
 
Sang Froid's Avatar
Joined Jan 2008
Sang Froid started this thread TAjammy you have a point. However, I've tried countless 'systems, strategies' etc... I've tried using fibb, I've tried stochastics, ADX, MA's, GMMA's the whole shabang!

Point is, I've found a strategy that I like and that potentially works for me. Keep it simple is the key I've found. The thing that's screwed me over is myself. I sabotaged my trading by not controlling my emotions or keeping a cool head on my money management.

That is it, this has become more apparent as I read some of the posts on here. It's me and my approach to trading, my attitude, trading noise to make quick profit because I'm scared to let profits run.

I know of people that trade naked using purely S/R and are extremely profitable. If it works for you then do it, and I think using my 'simple' macd cross can work for me if I can get my emotions under control.

The hardest part of trading (for me anyway) is not finding the holy grail of systems, it's trying to become a cool headed focused trader.
Sang Froid is offline   Reply With Quote
Old Oct 29, 2009, 11:34am   #29
Joined Mar 2007
http://tradermike.net/2004/05/trading_101_expectancy/

http://www.tradingpostfinancial.com/...der_071210.mp3

Minimum stop of 45

Take profit of 135

Close every night at 18.00

Maximum risked per trade 3%

If account size is 1,000 ,stop is 45 ,maximum lot size is 0.1 lots or 10k lots
oildaytrader is offline Trading arcade or proprietary trading company   Reply With Quote
Old Oct 29, 2009, 11:34am   #30
Joined Jul 2009
if you can make money with it then go ahead! i can't give you advice on emotions yet

good luck
TAjammy is offline   Reply With Quote
Old Oct 29, 2009, 11:39am   #31
 
robster970's Avatar
Joined Dec 2008
Quote:
Originally Posted by sangfroidFX View Post
I know of people that trade naked using purely S/R and are extremely profitable.
The answer to trading cannot be found in indicators. Seriously re-think your method and ask yourself why, intrinsically does it work.
robster970 is online now   Reply With Quote
Old Oct 29, 2009, 11:39am   #32
Joined Feb 2007
[QUOTE=sangfroidFX;957526]I'm single, no kids, no mortgage. I've small outgoings, mainly rent and bills.... the usual. In order to make forex my main source of income, I would need to earn between 12,000 and 15,000pa to live quite comfortably.



When you are comfortably making 12-15k a year trading forex then give up work. Maybe get a part-time job earning half that amount when you are comfortably making 6-8k a year trading. If you were comfortably earning 10k a year trading forex you could supplement your trading career with a small night-time job, like delivering pizzas.

Do you see my point?

Don't try to force any issues if you want to eventually trade your own account, it will either happen naturally or not at all. You seem to be in a good position in life generally, don't mess it up by rushing into it, take it easy.
Paul71 is offline   Reply With Quote
Thanks! The following members like this post: robster970
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Guest Category ? Trader333 T2W Announcements 3 Jan 7, 2008 4:04pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)