Hope Dies Last - 8 years as a day trader

Clown! The horse ain't bolted. Had he bolted it would be resolved in his psyche - he would walk away from the whole thing and wash his hands off the nightmare and not post here no more. The horse is screaming in agony for help. The opening post bellows that he don't want to quit but is asking for an experienced friend(s) to step in and assist him. That's you. Get to it.

Oh and by the way, this op is clearly no run of the mill take it in the yazoo newbie. He's been around you know. He has seen. This cat is a different animal. Can't you clowns see that?


An interesting point of view Fibo. Whilst I'm obviously pleased that I have been able to amuse you on some level, I have to say that my reading of his original posting is entirely different to yours.

I had understood him to be saying that he had come to the point where he recognised that whatever he was doing wasn't working and that trading had become a compulsion instead of a choice. At last, he had very sensibly made the decision to stop and unless I have got things completely arse about face he most definitely isn't appealing for advice as to how to get back into the game and make money.

As I tried to say in my earlier post, he probably feels like shit atm and of course he has the sympathy of every trader who's been through some of his hell....but seriously, apart from saying that we feel his pain, there isn't a great deal we can do for the moment. It was out of respect for what I perceived to be his current state of mind that I suggested that shutting the stable door after the horse had bolted would be insulting and unhelpful. Perhaps you thought that I meant that he was the equine in question but that would be an (to me) an unusual use of the axiom. If you prefer, one could equally say it's a case of too little, too late.

Of course, if he does decide to get back in the saddle (sorry, I do like my metaphors) I'm certain that there would be a number of T2Wers who'd be only to happy to share their knowledge and counsel. In the mean time, explaining what he could have done when it's too late just seems like a slap in the face, or as you put it, hammering a fella on the ground. Those of us who've commented have done so in a way that shows that we recognise what happened and the sub-text is that in some way, we have been there too.

Your thing for clowns is interesting; perhaps a new thread on that somewhere? ....in the meantime, to restate my own intention and Imo, that of the other commenters:

I consider that Inkpot is...

1. ...not a fool and (judging from his literate and numerate original post) completely aware of what he did and didn't do.
2. ...entirely aware that it was his responsibility.
3. ...currently not the happiest of bunnies
4. ... not about to jump back in
5. ....not asking for trading advice

So, all in all, we get what and how the story unfolded, that there's fuck all we can do about it right now.... but that should he ever decide to try again when he's feeling better he will find many people here willing to proffer their advice and guidance.

.
 
Well clearly Towns was prepared to just keep daytrading and losing money for years and years.

In the end his solution to stop daytrading was parallel to his resolve to keep daytrading. Which was to not even consider another route to the objective. So from that point of view, there's no change of character, no enlightenment, no rational process of investigation. He just kept banging his head against the same spot in the same wall and is now simply resting his sore head against the same spot, stopped in his tracks, exhausted and no wiser.

I hope he will read what I've posted and get back to trading but for pity's sake not doing what he's proven already he is unsuited to do. I hope he will try another style of trading and come back here for guidance on details and issues that might arise.
Tom.
 
Betting the entire Capital of Iceland (5 bucks) that NOBODY will come forward with a live trade. But wait, let's define a live trade and how it should be posted here ................

LONG XYZ at $12.53/share 2 minutes ago, Stop = $11.21, expected TP1 = $22.4. Will move stop up progressively to let Pr. run.
Fundamental analysis reasoning used: bla bla bla
Technical trade: chart provided with breakout and/or reasoning and especially where the trade will be proven wrong.
Additional data: more explanations the better it is.

Then we go to town and the party begins.

Can't you fellows break your stupid tradition of generalities and hocus-pocus useless trade talk in hindsight and go for the real juice, a live trade in real time?

Show the op how its done or why he is not alone in that he is the only honest one here but is surrounded by posers and pretenders.
Come on fellas, what do you say?

Count me in! I want 'em know I'm Ready like Freddy :)

op's wail & cry in the wilderness goes unheard?





Over to you now I think. Though as today's a holiday in the US there's not going to be the usual level of price action anywhere, but as soon as you're ready you should post a live trade and let's all learn something.
 
Perhaps some have watched the TV show about mining opal in OZ ?
One young newbie featured lashed out $30,000 on an antiquated digger which promptly broke down and cost another $20k to fix.
He is going broke with those sort of expenses and not much of an idea where to dig.
The point I am making is, had he started at the bottom and worked hard for an established miner for a couple of years he might know better what to do and saved himself and his fiancé a lot of time and money. Much the same with trading.
 
...............................

if someone is consistently losing money then they must continually re-evaluate until they at least stop the outflow............jees thats the first 3-5 years of any traders journey ..........stop losing money !!
..................................
I also, think that's really important and probably the first big milestone that you need to pass in your trading career – in the metaphorical spirit of this thread it's a bit like applying first aid at a serious incident: stop the bleeding, keep the breathing going & then you can get on with sorting out the patient (the trades). It's also a big psychological victory – and nothing succeeds like success – to know that although you might not be making it big time you're not sinking unsurvivably below the waterline.

My experience was that once I learned how to stop the losses instead of concentrating on how to make the big bucks, the bucks tended to look after themselves and from then on it was a question of refining the process. This was a long and hard self-taught process pre-T2W – how I wish I could have had someone like NVP & other helpful people on this site to have guided me.
 
agreed 0007.......I remember in the 90s when i was struggling with my trading and a lot of other things......good mentors and friends are so important ..........N
 
The killer para for me was this:

While awake in the small hours, or when I saw my friends retiring early on fat pensions, I would assuage my fears of the future and shame over those past losses with dreams of huge success.

Not only did he lose circa £100K+ over an 8 year period, but I'm assuming he didn't make any provision for the future at the same time. Early retirement suggests something aged between 45-60 to me. To make up those losses and put enough away for an early retirement would probably take 16 years to achieve, so I'm assuming he has pi**ed that opportunity against the wall.

Those retiring early, however they have made their money have presumably stuck to the basics of life of hard work and put away for a rainy day, to go to full retirement age now in the UK means aged 67/68 for millions, to end up on a basic state pension with no personal savings, with vastly higher risk of ill health limiting activities, when one could have saved, is just a life of earning potential wasted, never mind the regret, there really is little prospect of a happy future and a never ending source of regret that will come back to haunt him for years to come.

A good story, shows just how awry your life can go if you don't recognise the rot soon enough and do something to limit it.
 
The killer para for me was this:

While awake in the small hours, or when I saw my friends retiring early on fat pensions, I would assuage my fears of the future and shame over those past losses with dreams of huge success.

Not only did he lose circa £100K+ over an 8 year period, but I'm assuming he didn't make any provision for the future at the same time. Early retirement suggests something aged between 45-60 to me. To make up those losses and put enough away for an early retirement would probably take 16 years to achieve, so I'm assuming he has pi**ed that opportunity against the wall.

Those retiring early, however they have made their money have presumably stuck to the basics of life of hard work and put away for a rainy day, to go to full retirement age now in the UK means aged 67/68 for millions, to end up on a basic state pension with no personal savings, with vastly higher risk of ill health limiting activities, when one could have saved, is just a life of earning potential wasted, never mind the regret, there really is little prospect of a happy future and a never ending source of regret that will come back to haunt him for years to come.

A good story, shows just how awry your life can go if you don't recognise the rot soon enough and do something to limit it.


Good post, semi retired in my forties, but no idea why someone who is healthy would retire completely (unless you're in the banking game, I'd want out of that sh1tstorm asap :)))
People who claim to trade their own capital full time making a DECENT living wage...are...well, deluded ..... trading is boring at best (once you know what's what).... & downright dangerous at worst, as seen in this thread.
I made a bit, lost a bit, made a bit...........up down, in out........left leg in, left leg out.

A message to anyone in their 20's & 30's........Make your money in the real world folks, re read Signalcalcs post & commit to memory.

Trading is a pass time for most. I know enough guys in the banking arena, one of these guys was named in the top 40 traders in the UK (under 40 years old), about 10 years ago he tried to go it alone with his own capital, he lasted 3 months, totally frazzled him....he went back to gainful employment & hit Australia heading up a major bank as it exploded through the roof.

(Ps lively thread this one, Fibo's got some bite, an intelligent version of ol' Pip).
 
I've recently posted what I'm doing but just can't recall if it was here or on another forum but I'm happy to do it here. I don't trade live or intra-day, all entries are by pre-set order. Targets are the 28 common forex pairs, plus Gold, Brent and DJIA.

Daily chart with 50EMA.
If 50EMA slope is positive and price above 50EMA -
set buy order at high of next day with lower high
set SL at low of same day with trade sized to risk 0.5% of account capital
after entry exit at close of any day with lower high or at close of 5th consecutive day with higher highs
when trade in significant profit, trail SL from highest high reached minus 2 x ATR20.

(reverse above when 50EMA slope is negative and price below 50EMA)

I'm currently in the following trades -
DJIALong
BrentShort
GoldLong
EUR/CHFShort
EUR/GBPLong
EUR/JPYShort
EUR/NZDShort
GBP/AUDShort
GBP/CADShort
GBP/CHFShort
GBP/JPYShort
GBP/NZDShort
GBP/USDShort
NZD/CADShort
NZD/USDLong
USD/CADShort
USD/JPYShort

I have the following pending orders -
AUD/CADShort
AUD/CHFShort
AUD/NZDShort
CAD/JPYLong
CHF/JPYLong
EUR/USDLong
NZD/JPYLong
USD/CHFShort

All the best.






Good start but Johnny its still too general and too much and no specifics. At ET they talk like this

I'm Long XYZ ( but they never tell you when the entry was or whether there was an add to or where the starting stop was. This is important Johnny.

Let's skip the past and keep it simple

Solution to encourage you ............. pick your most successful instrument trading...Then do this: on your very next trade starting from this second, post it as soon as you fire it off to your broker - preferably within seconds or 2 minutes. Just do it. In that post you will state your reasoning, your stop, your expectations, your nice mentions above of the moving average phenomena you are using and so on. Detail Johnny.

Just one SPECIFIC TRADE :):) Time, place, form and event are the definition of the sane individual.

A paisan who deals in generalities is a green eyed pussycat with a caca bum. Such cats could not take out a burger out of a take-out stand.


Talk to me, Johnny. :)
 
Sorry Johnny

>>>>>> but they never tell you when the entry <<<<<<

would be fc***** worthless if the entry was stated from hindsight, the forte of ET and T2W.

Worthless shite.

Entry should be stated no later than 2 minutes of actual broker firing off. Then we got something. Just one instrument. That's a start. Time, Place, Form, Event.
 
Over to you now I think. Though as today's a holiday in the US there's not going to be the usual level of price action anywhere, but as soon as you're ready you should post a live trade and let's all learn something.



Jesus H Christ, wtf have you been, Johnny. I have live trades up the fc**in yazoo in my thread. Look for it Johnny. How hard can it be? Its got the most views just like at ET. You can't miss it, Johnny. What might help you Johnny is to look for the most disliked thread. then you will find it easily. The opening post is a stack of fck** live trades on which I was thereafter down due to mistiming but later lucked out (no skill, just sheer luck) and cashed out the short.

Wake up Johnny. Go read the fck** thread. then if you have time count the # of live trades and calls.
then to top it off I am currently engaged in the call of the SPY top short (ongoing and will post the entry in an ogonblick of firing it off) and USDJPY Long.

Wake up Johnny, come to play
 
An interesting point of view Fibo. Whilst I'm obviously pleased that I have been able to amuse you on some level, I have to say that my reading of his original posting is entirely different to yours.

I had understood him to be saying that he had come to the point where he recognised that whatever he was doing wasn't working and that trading had become a compulsion instead of a choice. At last, he had very sensibly made the decision to stop and unless I have got things completely arse about face he most definitely isn't appealing for advice as to how to get back into the game and make money.

As I tried to say in my earlier post, he probably feels like shit atm and of course he has the sympathy of every trader who's been through some of his hell....but seriously, apart from saying that we feel his pain, there isn't a great deal we can do for the moment. It was out of respect for what I perceived to be his current state of mind that I suggested that shutting the stable door after the horse had bolted would be insulting and unhelpful. Perhaps you thought that I meant that he was the equine in question but that would be an (to me) an unusual use of the axiom. If you prefer, one could equally say it's a case of too little, too late.

Of course, if he does decide to get back in the saddle (sorry, I do like my metaphors) I'm certain that there would be a number of T2Wers who'd be only to happy to share their knowledge and counsel. In the mean time, explaining what he could have done when it's too late just seems like a slap in the face, or as you put it, hammering a fella on the ground. Those of us who've commented have done so in a way that shows that we recognise what happened and the sub-text is that in some way, we have been there too.

Your thing for clowns is interesting; perhaps a new thread on that somewhere? ....in the meantime, to restate my own intention and Imo, that of the other commenters:

I consider that Inkpot is...

1. ...not a fool and (judging from his literate and numerate original post) completely aware of what he did and didn't do.
2. ...entirely aware that it was his responsibility.
3. ...currently not the happiest of bunnies
4. ... not about to jump back in
5. ....not asking for trading advice

So, all in all, we get what and how the story unfolded, that there's fuck all we can do about it right now.... but that should he ever decide to try again when he's feeling better he will find many people here willing to proffer their advice and guidance.

.




Very well stated. Understood. That we disagree with evaluation is totally OK. You know, in real life as per the video I am very unsympathetic to deadbeats and losers who just make excuses and are lazy sons of bitches just looking for a free ride. But this op struck a different chord. Losers get a quick kick in the ass by Fibo and sent off to Iraq as expendable. But this boy is different. He has no pride left, no illusions, he is beaten to a pulp and then he sent out a distress call. Fibo picked up that call and cannae turn his back on it. It might end up being worthless and useless. But you know, as they say in the big book, just make one person's day or month or year or LIFE. Just one person's .

Worth a shot. A rarity that someone of this caliber throws out a distress call of such penetrating depth that it hits Fibo in the chest like a low frequency wave of 5 Hz.

Right outside the supermarket he stood, dirty, smelly and unbathed and people just swerved around him. He begged for food, for anything. I watched this. Not one did a fckin thing to help this guy. Hungry in the USA? It sucks, Man. Maybe he was a fakir, a side gig hustler, maybe, maybe. But he made a huge impact on Fibo. Compelled to help I asked him what he was hungry for? He told me. I went in and got a bunch of good stuff, the same stuff I get for myself, nothing less, and then gave it to him and ordered him TO EAT NOW. He dug in and I watched. He could not possibly fake this. The food was gobbled down with speed and he could not stop, it was in his eyes that I could see this man was hungry beyond belief.

He was still eating when I said goodbye and walked to the car, shaking. No more than 15 seconds. Turned around and he was GONE. I quickly charged in and looked everywhere inside and out for you see he had a gait and defo could not go fast.

Fckin hell I thought. Weird!

I'm not religious although born and raised Roman Catholic. I told all this to Greg, a sacred guy, who just smiled and without hesitation replied, "it was a test - you asked for something and the test was sent - wtf do you mean, Greg? .... It was an Angel"

WTF do I know. I let it go at that.

From the very next day good stuff came my way like a knife thru' butter, I mean it just poured in, confidence is always high for me but now the chest was puffed out like a mother. Lasted for days and days and the let down was at 6 db per octave = hardly noticeable, so gentle it was as I approached normalcy again.

Go figure!


The video mentioned above is this one ...........
Fibo is like this in real life. Which one is Fibo? hahahahahahaha


 
:)More generalities, circular motion with the right hand. "What help are you suggesting?" Your method or part of it that has worked for you. Start with ground zero. Be specific. Give him a hand starting from basics and let him work his way up. specifics instead of I told you so.

I'll start the ball rolling for you gangbangers ....................

Price chart no indicators just place a 15x30 exponential period moving average on it. Then go back and revisit all the failed trades and see if this would alter the outcome. No fundamentals, no other stuff, no CNBC, no experts no earnings reqd. Just Price and the ema combo applied to your time frame of choice. NO indicators in lower panel allowed for this venture. Scaling is Log scale.
:)



The 15 x 30 exponential moving average combo is absolutely basic-basic. Moving averages as a subject are what is taught to novices. Not to say that op is a novice. He is NOT. But I have no way to know what fundamental basic-basic concept he has misunderstood. At the bottom of all failures is a misunderstood concept. find it, clear it and boom, the being explodes into action. Its like that deadbeat guru on TV said (the only one thing that impressed Fibo) - you could be a total fck** can't shoot stright can't do doodly squat but the solution is just a very very very slight angle of attack - that is all it will take to go into POWER. A very tiny adjustment in angle of attack. Applies to all fields of endeavor.

So we start here with rock bottom basic-basic expontial moving average cross system.

Hahahahahahahhahahahahaha, now watch how ET and T2W shitcan their entire approaches today and adopt this basic-basic approach :):cool:


See next ......
 
EurUsd current in real time ..................... daily chart only - ignore RSI in lower panel. Not reqd. Only Price, 15x30 & 200-day ema

NO FILTERS being used at this stage

Close Long when 15 x 30 and go Short instantly

Close Short when 15 x 30 topside and go Long instantly.

You will notice that in strong trending situations the pips just pile up but then when you get sideways down action of weaker trend strength the pips can go negative or just a small amount +ve.

So, just pointing this out as a flaw in the system when the trend strength abates but is still down for example.

To resolve this instead of shitcanning it, can we add a choice filter? We can. But that will come much later. We must explore this system first to get the fullest juice out of it.



264472
 
Now behold the killing brother Fibo made a while back on this juicy trend that had power and verve. And keep in mind that when you have a power trend like this you know to get out and stay out once you get the signal to exit because there is sure as shite going to be some heavy duty sideways crap to follow. so fck it, get out and go on holiday or retreat to a cave with 3 bitches and have a party for days.

Lord have mercy, Fibo made a whole lotta people sooooo happy with the spoils here, clothes, great food, jewelry, rents paid for 2 years in advance for young gals in the family of my avatar. God did Fibo not be able to sleep as he saw the sheer pleasure in their faces as they got new mobile phones and whatnot that young cats need so desperately but cannot afford it as the jobs pay fck all.

Her Ma made a fish dish for Fibo. the dish required so much dedication and time, Fibo fell to his knees in gratitude for the love of this family. Bloody hell Fibo was in Paradise. Hahahahaha and best part is the family thought Fibo was their savior, hahahahaha, whereas in reality it was the avatar who saved Fibo from hisself.



EurUsd in the massive bear wave May 8, 2014 to exit May 1, 2015 = 1-year short. Aha, aha, see the fckup after the run? Look to the right and see the giant fckup that could destroy fibo's profits - all of it would be took-ed away. But fibo is too smart for stupidity of that ilk. He took-ed the money and ran to Avatar.




264473
 
We can explore more of the efficacy of the 15 x 30 emas + 200-day ema package and we should. It should be tried on footsie, dow Jones, SPX, $ index, gold etc., this requires considerable work. Work of this type is not work to Fibo, he loves it, every damn minute of it.

Now remember that we still not have brought in the big guns like

Filters
Fibonacci
Wave theory
RSI
Macd
Trendlines
----
----
----


We are just operating on a very slim engine of verve.

Now, still without filters, can we try out 13x21, 13x34, 21x55? We sure can. do the work. there be gold in them Fibonacci numbers.
 
Then we came-d to the genius of Fibo, hahahahahahahahaha - bound to irritate the shit out of Baron and Magna :):):) Goddamn do I get on Baron's nerves, hahahahahaha. Magna the moderator cop till today is filtering all new entrants into ET, checking out their email aaddresses and whatnot to ensure Fibo does not reenter. He will lose. I will catch him off guard and reenter. I wnet in as a Mexican and almost got 'em but he cognited and shitcanned me within a day, hahahahaha.

Fck** hilarious fun for Fibo. :cool:

The genius of fibo is the utilization of the one totally certain entity in Fibonacci applied to markets, namely the retracement grid. It works across all markets. Very consistent. So what fibo did was to take the 38.2% and the 61.8% retracement levels and make them into moving averages ....................... rounded of course to 38 & 62.

Now behold current EurUsd. God help Fibo. The Angel of Life loves him dearly and the Angel of Death has been warned to lay off him.


Hahahahahahahahahahaha, you would only just have taken profits on June 28, 2019. Haaaaaaaa, the Short trade lasted 13 months.



264474
 
4th of July Independence day in the United States, fireworks going on all over the place, drunken bums everywhere. And what is fibo doing? He is working on his stuff at home, totally in peace, needs nobody, needs nothing, totally content with hisself. That's why married bitches hate fibo. Because he tells 'em, "one bus leaves, another comes in within 24 hours" Its called abundance.


Video has a 2 part intent

shows only one guy taking up for op

shows the snitches of T2W and ET ..... there are hundreds and hundreds of such bitches in both places, rat on their fellow trader and get them expelled


 
The countdown has now begun as of 10:04 PM Pacific Standard Time, Thursday, July 4th, 2019 for the op to start nibbling at TRADING en route to all in and back in the game.
 
fibo_trader - I've posted what I wanted to post, and if you don't like it that's a problem for you to resolve, not for me. I have no more time to waste on you.
 
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