Trading is easy - making money is hard

This is a discussion on Trading is easy - making money is hard within the General Trading Chat forums, part of the Reception category; Originally Posted by wh92stang I've done this about 3 times now and need to stop before I run out of ...

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Old Mar 4, 2010, 8:25pm   #25
Joined Mar 2007
Re: Trading is easy - making money is hard

Quote:
Originally Posted by wh92stang View Post

I've done this about 3 times now and need to stop before I run out of money to trade with. Anybody else have or had this problem and solved it?

Here is nice set up .Look for these buy at bottom of channel when price reverses back to the trendline .There are a few nice set ups like this every week.

http://www.trade2win.com/boards/gene...ml#post1065708

Here there were two today.Just look for intraday trends ,with small stops and good money management.
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Old Mar 4, 2010, 8:38pm   #26
Joined Jan 2009
Re: Trading is easy - making money is hard

wh92stang started this thread I know about setups, strategies etc. That is not what I'm asking. I can find great setups every day. My problem is with discipline. Waiting for prices to hit my levels, and in the 25% case my levels don't hold every once in a while I get a terrible idea and buy more to lower my cost average and end up getting killed. My problems are disipline and execution, not reading PASR.
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Old Mar 4, 2010, 8:48pm   #27
Joined Mar 2007
Re: Trading is easy - making money is hard

Quote:
Originally Posted by wh92stang View Post
I know about setups, strategies etc. That is not what I'm asking. I can find great setups every day. My problem is with discipline. Waiting for prices to hit my levels, and in the 25% case my levels don't hold every once in a while I get a terrible idea and buy more to lower my cost average and end up getting killed. My problems are disipline and execution, not reading PASR.
Automate your trade management , if your platform allows.On metatrader platform, I look for trade setups and place the autotrade management Expert advisor to do the rest.It can place the order at your entry price.It calculates position size and does trade management i.e tsl,b/e and t/p.After seeing a set up ,I let the autotrader software do the work and walk away.

This way I don't mess up or interfere.

O D T
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Old Mar 4, 2010, 8:51pm   #28
 
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Re: Trading is easy - making money is hard

Quote:
Originally Posted by wh92stang View Post
I know about setups, strategies etc. That is not what I'm asking. I can find great setups every day. My problem is with discipline. Waiting for prices to hit my levels, and in the 25% case my levels don't hold every once in a while I get a terrible idea and buy more to lower my cost average and end up getting killed. My problems are disipline and execution, not reading PASR.
Elitejets posted this on another thread (I forget which). You might find it useful.

http://www.4shared.com/file/96740657...er_Market.html
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Old Mar 4, 2010, 9:14pm   #29
Joined Jan 2009
Re: Trading is easy - making money is hard

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Originally Posted by wh92stang View Post
I know about setups, strategies etc. That is not what I'm asking. I can find great setups every day. My problem is with discipline. Waiting for prices to hit my levels, and in the 25% case my levels don't hold every once in a while I get a terrible idea and buy more to lower my cost average and end up getting killed. My problems are disipline and execution, not reading PASR.
Lack of discipline is an issue for most traders, I'm no exception. It's that moment when you trade and your heart is beating fast, perhaps a little sweat on your brow, as you add to a position which has already gone through your previously set mental stop.. you KNOW this is going back up.

This is where we all fall down. It sounds to me like you have some good trading strategies to begin with.. why not write down all your rules (try to make it as simple as possible) and then keep a trading diary with a mark of 1-10 on how well you kept to your rules. You'll probably find that if you stick to your rules over time you'll do well, and take the adrenaline out of trading. Ultimately, you're just trying to make consistent profits.. if you want a rush, do a parachute jump or visit Alton Towers..
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Old Mar 4, 2010, 10:09pm   #30
Joined Nov 2008
Re: Trading is easy - making money is hard

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Originally Posted by oildaytrader View Post
Go on tell everybody you are trading with your 20 trades a day at bucketshop gold index.

and tell them ,S and P will close at number x or 1150 , yet on the roulete you will have a different number.Thats not trading ,its gambling on S and P.You win and lose, never overall profitable.

Trading profitable set ups with an edge is very different, the end result is very certain, better than the 50/50 chance, infact 75 % chance of a win.

O D T
Hmmm....you stated;

"Most pussies think they are ready to trade in one year.All these pussycats are S and P traders ,counter trend monkeys,support and resistance traders /random zone traders and swingers on Tarzan's rope.

Clicking a mouse button and placing a buy or sell order isn't trading,it is gambling buy is black and sell is red, your broker did not tell you that.You need knowledge and skill before clicking the mouse.

All these gamblers who are not professional traders but gamblers.

Professional don't trade every day, and some days do not need to trade at all.Those who rely on a daily wage are f**cked up traders who often trade without an edge.They will only see true profitable set ups two or three times a week, the rest is gambling
.

It will take several years to be consistently profitable."
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Other than (arguably) the part highlighted in red the rest is bizarre. Quite frankly I find it absurd that you could opine what you did with such misplaced conviction...I'm not surprised that you continued with more of the same in your later reply ...

I know a guy on 'ere who takes on average 65 trades a day on equities (in 2 defined sessions). A guy on this thread operates v. succesfully off ten minute TFs, we've exchanged PMs, have similar views/methods, and I have absolute belief that he's a smart profitable operator.

Do you honestly believe that in prop houses, or at credible intstitutions they don't have a small army of guys and girls 'scalping' away (on all sort of exotic securites) ?

It's frightening that you're so wedded to your own prejudices and pre-conceptions, on how and what to trade...good luck with that, hope it works out for you...

BTW, same old for me today, same edge, same method across 7 pairs, eleven day trades, 7 winners (loonie trade still *live* since midday)...just closed UJ, thanks for asking...
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Old Mar 5, 2010, 10:34am   #31
Joined Mar 2007
Re: Trading is easy - making money is hard

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Originally Posted by wh92stang View Post
I mainly trade Crude oil futures and EurUsd.
Are you losing out on crude trades or euro/usd?Which one is losing more money?

Everybody has a good sequence of wins, confidence gets to peak high,positions get increased and losing streak starts.SOLUTION STICK TO SAME POSITION SIZE.

Crude kicks about all over the place (contrary to what mentors say, if they agreed their beliefs on t/a would be useless), it is a good trender but a rough trender which knocks you out of good trades regularly.Stick to euro/usd.

Try testing your discipline on demo accounts for a month.

If you want to experience auto traders , try here

http://www.trade2win.com/boards/gene...d-trading.html

O D T
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Old Mar 5, 2010, 4:55pm   #32
Joined Jan 2009
Re: Trading is easy - making money is hard

wh92stang started this thread My big losses have come on crude. I am limiting myself in the amount of contracts now. Crude is so hard because it makes so many fakeouts one way or the other, but the times it is not a fakeout can be huge moves in a matter of seconds.
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