Hey Yo Party People in da House :clap:
Whassup.... ?
Well well well, nice crib this
I'm a trader and am Hugh Janus III, looking to get filled with knowledge, and hoping maybe eventually to squirt some back at you folks too
Probably uniquely I only have one goal... And it's not to make money :-0 In fact if there was a little wish fairy :innocent: then I'd wish that for the next 12 months, that I could get to the stage where I never or very rarely lost a trade....I don't mind every one of them being scratched or breaking even....but I don't want to lose one. I want my account to be flatter than Kate Moss's knockers :whistling If trades were people (funny, but in a real sense they are), then I've lost more than both the two World Wars put together. And so like a Doctor :smart: I want to take the hippocratic oath......to never willingly ever lose another patient again, if I can help it.
I've been gambling....sorry trading for about a year now...mostly spectacularly badly....I have been mainly trading (err no gambling is definitely the better word) forex, and starting out with no knowledge....have managed to (end up with even less by) blowing out 5 paper (bags) accounts :clap:
Oooh the fun.......you have to be pretty $h*t....and a great big fool-ah to blow that much moolah...so fast. So I've had the spills, the thrills, but where are all the guns.....the bitches....and the fast cars baby
??? I thought by now I would be snorting white lines through a crisp 50, off some model's ass, so things are obviously not panning out as I would have hoped.. I am also pretty ashamed to admit that I've never even tossed a dwarf
I carry a mental picture of the above (minus the dwarf tossing - they can do it themselves..my hands are way too big
) because its good to have goals innit
So over the last year, I have learnt...:
- not to revenge trade...
- you can't fight the market (she'll only knee U In the groin and laugh at your willy)
- be grateful for what you get....
- be more grateful for what you don't get (there's a lesson in there somewhere)
- always a stop loss
- always a stop loss
- did I say....always a stop loss ???
- and don't move the b@stard either (it's not a wheelie-bin is it ?)
- accept you're wrong, and more importantly that theres always a price which is slapping you in the face and screaming you're wrong....so take the cotton wool out of both ears...and just bloody listen !
- price..like your knob...has a memory...just as it likes to find its way back to its warm cosy hole....price is magnetically attracted back to key levels, sessions highs, lows, opening ranges, previous highs, lows, support or resistance (or more rightly institutional supply and demand levels).
- just like a bitch...the market can stand face up (bullish), lie down (sideways), or bend over...woof woof (bearish)... But you need to jump up a few time frames and read her mood and then point both your pecker and your trades in the right direction if you plan on getting them filled
- ultimately that price action is the engine to a car that can carry you through a good trade, if you take the time to read the signs, learn what they mean, and occasionally glance down at the chart patterns they are mapping for you. Indicators are useful on a car....but if it was a straight choice between an engine or flashing lights, then pick the engine....it does a better job of getting you from A to B.
So I guess my real interest right now is money management and psychology as they represent 30% & 60% respectively of trading as I see it, and you only need to read the above to know.....I need serious help with my psychology. I just wish they'd take the face-mask and straight jacket off, for a bit...because even if I am mad....it doesn't mean that I'm crazy
does it ?
Peace.
Hugh