Down a couple K this month... Help?

rsh01

Experienced member
Can you recommend a good video?

I quite liked the town, the most recent I watched was hunger games and its just a v cheap rip off of battle royale, so don't bother.

(Shakones post is the best response imo)
 
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LiboNZT

Junior member
I believe that you are too concerned about indicators and stuff that even you don't know exactly how they work. I mean you might have heard that if the 20 MA breaks the 200 MA and RSI is <50 you should go out and buy your guts. Well that doesn't really work for two obvious reasons imo, the first one already stated in the first sentence. The second reason ( and I might be wrong here) is that if trading was that simple most of us would be billionaires by now. I mean, it might be possible back in the thirties but in the fast paced present world things are more brutal.

My opinion is that you should quit trading with real money completely for the time being. Don't try to beat the market everyday with every trade. You should focus more on the fundamentals, and i don't mean fundamental analysis rather than what exactly is the market and how it works. When you get familiar with the market and it's nature then you should start examining price changes and stuff.

TA and FA don't necessarily provide you the best signals for your trades. Everyday observation and logical thinking can make you far more money than the best indicators and tools that exist today. Take BP for example! Plus, I advice you to read some of the books listed in the newbies section, there are some books there which will certainly make you think in a much different way and propably help you solve some of your problems.

I have never traded realy money and I am a complete newbie/noob :)
 

FringFX

Active member
Can't believe you guys fall for the o.p.'s crap
Do you really need to add insult to injury?

I hope you could say the same thing when someone important to you encounters terrible pain/accident

You might be an insensitive successful trader, but that does not preclude you from having the decency to shut your mouth.

read your post, you talk crap yourself. T2W will have less tosh if people like you lurk more :cool:
 

natureboy

Established member
Craig, i tried to reach out - help you with some technical/money management knowledge. Fact is knowing facts isn't enough. You have to get used to losing money real time repeatedly. Your neural circuitry needs to adapt to the requirements of trading, that takes some time too. Seriously, the mindset of a good trader is unique in all forms business IMO - especially true for day trade/scalpers. Trading is the only business where you pay to play so frequently and you are wrong on your analysis so frequently yet can still make money net (possibly). People without the right wiring may win at first, then size too big following losers. Most folks don't make money over time.. It is not easy - it's simple but not easy.

To turn things around, you need to look at drawdown as 1) Learning - What did you do wrong? How can you improve, and not repeat the same mistakes? ...clearly position size and money management need to be studied/understood/implemented. Its not just the trading method, its the risking method. 2) Warning - you'll continue to lose if you continue to trade in the same way. It becomes exponentially more difficult to recover following 20-25% drawdown, so tread carefully - take the advice from others on here saying to stop trading live, Learn Trading First. Then, use a micro account or something to where the loss is real money, yet very small.

Prove consistency and proficiency on small stakes before returning to attempt making any real money.
 

craig5150

Junior member
Just replied to your PM Natureboy...
 

BeginnerJoe

Senior member
Can't believe you guys fall for the o.p.'s crap

I can't believe you are spamming your journal and tweeter account like that. Nobody reads them ? Will more people reading them increase your ability to trade, or were you hoping, like the OP, someone will come help you out ?

The OP looks to be in genuine distress from his beginner mistakes. So nobody is falling for anything. But it was fortunate for the OP that he saw something was wrong only after 2k down. If you were in his shoes, I am certain you would be in a far deeper hole.
 

H.R.J

Junior member
I'm in London tomorrow, pm to meet up. One hour of discussion all that needed to set.you in right direction. No bull****, no sales, no nonsense, just good advice and recommended reading.
 

Mr Woozel

Well-known member
Do you really need to add insult to injury?

I hope you could say the same thing when someone important to you encounters terrible pain/accident

You might be an insensitive successful trader, but that does not preclude you from having the decency to shut your mouth.

read your post, you talk crap yourself. T2W will have less tosh if people like you lurk more :cool:

The OP looks to be in genuine distress from his beginner mistakes. So nobody is falling for anything. But it was fortunate for the OP that he saw something was wrong only after 2k down. If you were in his shoes, I am certain you would be in a far deeper hole.

Think about it: The op is a new member who claims to have been day trading full time for a few weeks. Apparently this is the hardest type of trading. He lost a few K. He uses the worst possible timeframes, uses tight stops, says his stop limits won't get filled. Uses lots of indicators and would like a sure fire method and a good video to watch. In another post, he wants to know whether he should try Elliot Wave theory (complicated apparently) but at the moment is entering trades on a green candle.

This member has posted just about every trading cliche possible and you think it's genuine

I can't believe you are spamming your journal and tweeter account like that. Nobody reads them ? Will more people reading them increase your ability to trade, or were you hoping, like the OP, someone will come help you out ?

I really have no idea what you are trying to say but please don't waste your time trying to ellucidate.
 
M

member275544

It doesn't really matter if its genuine surely..
He has lots of indicators, who doesn't starting off..he wants to learn about EW, so did I until I realised it was useless..didn't we all go through these mistakes and learnt the hard way?
Its annoying that he's posted the same questions now on two threads, expecting a different answer, but hey..
I'll repeat craig in case you didn't get the advice the first time..look at point and figure. If you dont want to follow that advice, entirely up to you, but im not down 2k this month thats for sure
Best of luck anyway
 

DionysusToast

Legendary member
I mentioned in your other thread that the market is intelligent but you think it's dumb and likes to give you money. Until you reposition yourself to deal with an entity that is superior to your intelligence in every way, your money will keep disappearing.

They know where your stops are, and they will take you out, simple as that. They love wide stops, it just means more profit for them.

Who is "They" Joe?

And how would "They" know where a stop loss order was? Why would that stop loss order be even worth taking out? Let's say stops are below - who's on the other side of those trades as "They" push through thousands of contracts worth of liquidity to get to the stop on your 1 lot long?

There are times where pockets of liquidity are created in the form of groups of stops and there are times when the market will gravitate towards that area. There are times when the market hits that area and times where it fails.

"stop hunting" as mostly an excuse for losing trades.
 

pboyles

Legendary member
I think we saw in the series of MT4 VT plugin videos that the functionality exists to create price spikes. If a retail forex broker is taking the other side of your trades, and many do, then of course it's in their interest for your stop to be hit, the money goes straight into their pocket.
 

BeginnerJoe

Senior member
They" push through thousands of contracts worth of liquidity to get to the stop on your 1 lot long?

They'd take my 0.0001 pence long. Anything greater than 0 is worth taking. As for who they are, I don't know but I can smell their presence. I think they are more of a what rather than a who, them dirty stinking rats.


Actually it's already in their pocket, they just need an excuse to keep it there.

What is in who's pocket ? I know it's early in the day, but make some sense.
 
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neil

Legendary member

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