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 Reception category; Get a broker that use's trailing stops and never close your trade (in profit) manually. It will only close when ...

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Old Oct 29, 2009, 9:13am   #22
 
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Get a broker that use's trailing stops and never close your trade (in profit) manually. It will only close when the trend has probably finished, that way you will get the most out of the trade assuming you trade with the trend.

Most importantly, don't give up. Don't do anything stupid either, keep your head together and think rationally. You don't have to prove to anybody, not even yourself. Just remember that even when things are going bad, as long as you're staying disciplined and calm, you'll win in the end. But winning also involves losing, ALWAYS take your losses, don't p!ss around, it's for your benefit! Small loss = win.
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Old Oct 29, 2009, 9:22am   #23
 
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Quote:
Originally Posted by HawkTrader View Post
Get a broker that use's trailing stops and never close your trade (in profit) manually. It will only close when the trend has probably finished, that way you will get the most out of the trade assuming you trade with the trend.

Most importantly, don't give up. Don't do anything stupid either, keep your head together and think rationally. You don't have to prove to anybody, not even yourself. Just remember that even when things are going bad, as long as you're staying disciplined and calm, you'll win in the end. But winning also involves losing, ALWAYS take your losses, don't p!ss around, it's for your benefit! Small loss = win.
You know it's advice like this that is worth a million. It's so easy to think and so much harder to do. I've known I should use trailing stops for years, the broker I use only has a trailing stop of a minimum of 15 pips from the open price. I wasn't in a trade for that long and as such never took advantage of this. This is one thing I am looking to change in my trading. Using an H1 chart and basic S/R I should be in a trade for a lot longer.

The loss part is the hardest to comprehend. I will be totally honest now. I find it hard to accept I'm wrong. I find it hard to take a loss. I know everything you're about say and I've heard it before, but untill I change this I will always be a loser, and that's what I'm going to have to accept. Minimise those losses and maximise those profits.

I'm dropping down a lot size to 0.1 for a few weeks too
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Old Oct 29, 2009, 9:31am   #24
 
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And remember to KEEP IT SIMPLE!

If you're method/strategy is simple, you'll never get confused and bogged down with heaps of info. "Ahhh, x says this, and y says that, what do I do!!". I know you've heard it before, and I've said it in my last few posts, but as long as you have good risk control, and your system is simple, you can't go wrong! Try figuring out the best way to get OUT of trades, not into them! Getting into a profitable trade is quite easy, getting out with maximum profit is the hard part. Keep the entry simple and try to find out how you can have bigger profits.

Watch this.



YOU are the problem (no offence ), sort yourself out and keep working.
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Old Oct 29, 2009, 11:05am   #25
 
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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.
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Old Oct 29, 2009, 11:13am   #26
 
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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!
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Old Oct 29, 2009, 11:21am   #27
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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
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Old Oct 29, 2009, 11:31am   #28
 
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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.
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