Making the right calls...

iota

iota

Active member
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and not placing the trade.

For a while now I keep calling the majority of trades right, but somewhere along the line I've lost my asshole and I'm doing far too much regretting making consistent calls while consistently making little or no profit.

I lost quite a lump a while back and now whenever there's real money at stake my ass ends up doing the 50/20p dance and I jump out too early or don't jump in at all.

I have no ****ing idea how to get back in the saddle and stay there. Anyone else had to deal with this?
 
iota said:
and not placing the trade.

For a while now I keep calling the majority of trades right, but somewhere along the line I've lost my asshole and I'm doing far too much regretting making consistent calls while consistently making little or no profit.

I lost quite a lump a while back and now whenever there's real money at stake my ass ends up doing the 50/20p dance and I jump out too early or don't jump in at all.

I have no ****ing idea how to get back in the saddle and stay there. Anyone else had to deal with this?
Click to expand...

My advice is to work your system with very small amounts of money and work up slowly from there. You have to know that with hard work and experience you can win in the long run. I have had my a** kicked by the markets many times, but the longer I do this the more times I win. My biggest mistake in the past has been to get too risky after a string of wins,,,,, or too risky after a string of losses. That equates to me bringing my ego into the equation. I know that I have done better in the long run using logic and not ego.

Good Trading,
JahDave
 
While Vodafone is again making its Zoozoos amusing by putting them in different settings such as forests.
----------------
Thomas
 
Iota,..you obviously haven't been trading long (I'm guessing you were a newbie when you lost the lump)
It's a common psychological problem you're going through called the "freeze",.
Your mind has developed a trigger (whenever you enter, you LOOSE!).
It's a subconscious thang, and the only way to reset it, is to get in the saddle and ride that donkey, and keep riding it, until it becomes fun!
Have a sort of do or die mentality,..and let go !
Tip: If you're daytrading,.stay in every trade for at least 20 mins (as a target),.just to get you used to relaxing,..don't watch the trade,...just the clock!
 
".. you LOOSE!"

Come on.

Lose has one "o".

Unless you mean that he loosens his bowels, or something similar.
 
Meany,... go and play with you dick tionary, or the traffic,...and refrain from helping us poor loOsers,..
 
I officially give up. If people want to spell lose with two o's or even three, I don't care any more.

It's a four letter word. It's in very common usage on this website. Yet people still get it wrong.

Wotever ...
 
How about

The girl was loose.
The hockey team doesn't want to lose the game, but their play was loose so they did.
The girl was wearing loose clothes.
The hockey team was frustrated at losing.
The hockey team had loose morals as well.
They all loosened their clothes.
 
LOL, tell me everyone is on a wind up with Mr Meanie? If so hats well and truly off!! (should there be an apostrophe in "hats"?) :eek:
 
Here's a test for all the loosers on this site !!

Practice:
The shoes were so big that they were ___________ on the little boy's feet.












I turned a corner to __________ the guy who was tailing me.












Our football team hasn't done so well this year. We are sure to __________ every game.












After the bad weather, the penned up dogs were set ____________ to run outside again.












The pet store manager was told to __________ the dog's collar as it was much too tight around his neck.












Those rules are much too ______________! You need to tighten up security around here.












Her husband had to work on her necklace for over an hour before he could ________________ the hung clasp.












She wanted her hair fixed in soft ___________ curls.












It is a terrible thing to _________ one's self respect.












You will _______________ out if you don't get there before the sale ends.
________________________________________________________________________

Answer Key:
loose
lose
lose
loose
loosen
loose
loosen
loose
lose
lose
 
IOTA, you have to take the trades, you have to find a risk tolerance that you find comfortable. If that means 'going micro' with Alpari, ODL etc. then do it. Perhaps start looking at psyche videos on You Tube or articles from Brett S. etc., they can help.

You may be at that natural point where you're getting to grips with a strat./system, you may have decent (latent) money management skills, but the mind is lagging because you don't quite have the mental strength to trade, or the real 'live' confidence in your plan or yourself. The paradox is that the mental strength required can only come from trading, day in month out..there is no other way of coping with the emotions of trading other than obtaining the experience of doing.

A *trick* may be to start afresh by setting aside a reasonably small sum to test yourself and your strat/edge/MM/mind, think of it as strategy testing money. Fund your account with $500 knowing that this is *test* money, no-one likes to lose but this is money that you are using to test yourself and your plan. You plan to trade perhaps 2 FX pairs, off 2-4 HR TFs and risk perhaps 2% per trade, not sure what your entry criteria is but in my experience this may offer up 2-3 opportunities per day. Crucial to this is knowing each day you trade that the worst that can happen is that you'll probably lose only x amount. IMO if you have 4 losing trades off the TFs suggested it would be unusal (assuming your strat is sound), so the worst day you could have would be losing 8% of your account which is what, $40? Not bad..imho a typical losing day would be closer to 3-4% but bear in mind that you have to measure trades off these TFs over days, not individual days.

Another suggestion is to keep a blog/journal, you don't have to publish to a wider audience, it could be a great method to record your trades and emotional trader growth and witness how you stuck to the plan or not.
 
I need to loose my pride and go back to school. I failed every one of those. My answers:

funny looking
trip
get whooped
free
get rid of
fooked up
break
tight
flaunt
get screwed

Peter
 
Hilarymannah said:
Here's a test for all the loosers on this site !!

Practice:
The shoes were so big that they were ___________ on the little boy's feet.












I turned a corner to __________ the guy who was tailing me.












Our football team hasn't done so well this year. We are sure to __________ every game.












After the bad weather, the penned up dogs were set ____________ to run outside again.












The pet store manager was told to __________ the dog's collar as it was much too tight around his neck.












Those rules are much too ______________! You need to tighten up security around here.












Her husband had to work on her necklace for over an hour before he could ________________ the hung clasp.












She wanted her hair fixed in soft ___________ curls.












It is a terrible thing to _________ one's self respect.












You will _______________ out if you don't get there before the sale ends.
________________________________________________________________________
Click to expand...

-The shoes were so big that they were 'smelly' on the little boy's feet.
-I turned a corner to 'kiss' the guy who was tailing me.
-Our football team hasn't done so well this year. We are sure to 'forfeit' every game.
-After the bad weather, the penned up dogs were set 'alight' to run outside again.
-The pet store manager was told to 'wear' the dog's collar as it was much too tight around his neck.
-Those rules are much too 'pornographic'! You need to tighten up security around here.
-Her husband had to work on her necklace for over an hour before he could 'manipulate' the hung clasp.
-She wanted her hair fixed in soft 'alluvial' curls.
-It is a terrible thing to 'have' one's self respect.
-You will 'freak' out if you don't get there before the sale ends.
 
meanreversion said:
How about

The girl was loose.
The hockey team doesn't want to lose the game, but their play was loose so they did.
The girl was wearing loose clothes.
The hockey team was frustrated at losing.
The hockey team had loose morals as well.
They all loosened their clothes.
Click to expand...


carry on i like this story...
 
Exactly the same thing happened to me, blew £3k in two months on FX, tried dealing rooms, EA's, Spread Betting the works. Finally decided I was being a bit of a tw** and opened a $150 FXCM micro account through Back Bay and blew that as well. Put in another $150 and have now managed to triple it. So I'm still £3k down, but I've put that down as money lost and pretty much forgotten about it.

Three best bits of FX trading advice?

1) Take your licks and move on, don't live in the past
2) Live to trade another day, preserve your capital
3) Follow the trend

So my advice, is go back and play small, very small, tiny in fact. I'm buying 1 or 2 micro lots at a time and looking for 5% - 10% profit a month. When I get to $600 I will double up to 2 to 4 microlots.

If you think you have a handle on the market now, you owe it to yourself to run with it but do it with chump change. Remember to only risk 1% - 2% of your capital each trade.
 
Thanks for everyone's pointers.

The fact that I lost a lump wasn't a problem as much as the fact that I lost it.

Maybe I'll start posting in the live calls thread. :eek:
 
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