My Journal - Pathways to Improvement

[remulix]

Done trading real.
Loss of -27.5
Largest loss: -5.7

I don't think i'm ready yet.

Obviously not giving up. Just withdrawing my funds. Hopefully will receive some rebates. I will start trading real after new year. During this time period.. I will try to control myself on any kind of manic trades. It's depressing though. But I have to do this. Didn't want to fail myself & F.

During this time...Following things I will try to do:
1. No multi lots...I need to gain 10 pips in single trade without any multi lots.
2. Need to keep 70% win rate at least for 10-15 days, consecutively.

If I able to do this..then there is a chance...otherwise.....I should leave trading fx.

Good morning Sun,

Don't give up Sun, markets are not easy actually as international context is under pressure.
I made some mistakes too this morning and lost 15 pips but will recover within the day.
Trading is a real hard job and cannot be acquired fast and it's even harder with a small capital.
Losing is a part of the job and some demo trading will restore your self confidence. What happens to you is just the proof that you are on your "pathway to improvement"

Hold on !!!!

R.

 

[sun11]

Thank you for your honest post

keep it up, you should not worry about failing, that will bring more pressure on you....trading live is different, mr Ego comes to town.....it does not matter how you trade, all good traders trade flawless and it takes time to get there.

Thank you Fugazsy for post.

I get to know that I can't withdraw my funds. So have to stick around with my real. I already in mind considered the whole money as the training fees..Cause i required to trade in real to control my emotions....

In my case ms ego is really disturbing...hard to tame her.
Ok...from tomorrow...i will trade in both demo + real account.

In demo account: I will hold trade longer to check my timing is ok with the set up or not.

In real account: I will gain 10 by 10 pips. Dollar by Dollar to recover my losses. Also I will decrease the leverage with each step. Either I will earn -10 pips or loose -10 pips or break even.

 

[sun11]

Good morning Sun,

Don't give up Sun, markets are not easy actually as international context is under pressure.
I made some mistakes too this morning and lost 15 pips but will recover within the day.
Trading is a real hard job and cannot be acquired fast and it's even harder with a small capital.
Losing is a part of the job and some demo trading will restore your self confidence. What happens to you is just the proof that you are on your "pathway to improvement"

Hold on !!!!

R.

Thank you Remulix ... for your positive post...Yes pathways to improvement...but no improvement yet...I can see same track of my failure like in past.

Up & then Down down down....

Like past...still holding...

 

[Fugazsy]

Thank you Fugazsy for post.

I get to know that I can't withdraw my funds. So have to stick around with my real. I already in mind considered the whole money as the training fees..Cause i required to trade in real to control my emotions....

In my case ms ego is really disturbing...hard to tame her.
Ok...from tomorrow...i will trade in both demo + real account.

In demo account: I will hold trade longer to check my timing is ok with the set up or not.

In real account: I will gain 10 by 10 pips. Dollar by Dollar to recover my losses. Also I will decrease the leverage with each step. Either I will earn -10 pips or loose -10 pips or break even.

My advice to you or to anyone is not to trade demo, never.

Open an account with $10, with a broker where you can trade 1 unit (for what I know, Oanda does it but their spread is high for scalping, CMC also does it and spread is below 1 pip (eu), they are market makers but you should not worry about that now).

Risk 1% per trade which is 0.10 cents, if you risk max 10 pips per trade you can buy/sell 100 units, you can also cover partials.

when you double your account inject by doubling the money in your account....... and so on....

You will be not trading demo and you will learn about yourself without risking much, when you start to trade flawless you push more, do not before because you are not ready.

 

[sun11]

My advice to you or to anyone is not to trade demo, never.

Open an account with $10, with a broker where you can trade 1 unit (for what I know, Oanda does it but their spread is high, CMC also does it and spread is below 1 pip, they are market makers but you should not worry about that now)

Risk 1% per trade which is 0.10 cents, if you risk max 10 pips per trade you can buy/sell 100 units, you can also cover partials.

when you double your account double the money and so on....

With my current broker minimum pip size is 0.10 cent. So if I risk 10 pips I will be risking a dollar for it.

But yes I got your point. It is essential to trade real. :idea:

 

[remulix]

My advice to you or to anyone is not to trade demo, never.

Open an account with $10, with a broker where you can trade 1 unit (for what I know, Oanda does it but their spread is high for scalping, CMC also does it and spread is below 1 pip (eu), they are market makers but you should not worry about that now).

Risk 1% per trade which is 0.10 cents, if you risk max 10 pips per trade you can buy/sell 100 units, you can also cover partials.

when you double your account inject by doubling the money in your account....... and so on....

You will be not trading demo and you will learn about yourself without risking much, when you start to trade flawless you push more, do not before because you are not ready.

100% agree Fugazsy !

Roboforex does it too and you can withdraw your money instantly.
Of course they are MM too but sometimes a good MM is better than a bad ECN (That does not mean NDD)
Spread is around 1.2 on EU or you can get a fixed spread @ 2 pips (4 digits).

Sun, your "bad habits" are coming back because you are in doubt.
It's the same for everyone.

R.

 

[Fugazsy]

With my current broker minimum pip size is 0.10 cent. So if I risk 10 pips I will be risking a dollar for it.

But yes I got your point. It is essential to trade real. :idea:

Your risk per trade should not be more than 5% of your capital, but only when you know what you are doing.

When you are on your way you should risk less than 1% per trade.

It does not matter is only a $1, if you account is $50 you are risking too much and you will be under pressure. This is not about money.

You need to learn how to lose before you learn how to win.

 

[keen246]

My results for today: -9.2 Net Pips.
You're not alone Sun

 

[remulix]

Daily stats

Well, it was a bit mad today...
I was desperate losing so much pips because of a sudden move (should use SL sometimes) so I decided to trade like a dork.
Traded my friends GN and GA at 4 lots instead of 0.2 and they gave me money (hopefully).
I was lucky but of course I must change my pants now



All the best.
R.

 

[Forexmospherian]

Thank you Remulix ... for your positive post...Yes pathways to improvement...but no improvement yet...I can see same track of my failure like in past.

Up & then Down down down....

Like past...still holding...

Hi Sun

The fact that you have been here before - ie had a successful method that you were able to trade with success on a demo - and then it went wrong with a real live money account means unfortunately that your mind is "tainted" by the experience and therefore you think you will not be able to carry on successful with any other method with live money.

Really - the only way now to overcome that now is like Fugazsy has said - try and stay live and not go back to a demo.

If you keep going back to demo - you will keep seeing the same results - ie when no real stress of live money - you will be fine - but then when you go live again - you will start entering another losing phase - and again you will think you need to go back to demo - etc - ie a yo - yo situation that might last years.

You are less than 2 months away from knowing nearly all the method - and then really from then on - you should carry on improving every 3 months and reach a very consistent level after another year - ie more experience - more knowledge - higher skill performance - etc etc.

Can you trade live with a very small amount as suggested for at least another 3 months plus ??

By doing that you will really find out if your are capable and comfortable to carry on - or rather than wasting another 6 months or 2 years etc - decide maybe that live spot FX is not for you - and if this did happen its no failure - It shows you have tried your best and thats the important thing.

I had a 6 months period after trying to compound too quickly that nearly had me saying - no its not for me. Instead - i just regained my confidence and then stayed at a level i was comfortable with - and that's worked .

I have some losses most days - but now they don't really worry me - they are my costs of doing business etc - I feel in control - but every day can be so different - some days its so easy - other days I struggle and take all day to get there - luckily that's not too often - but after all the intraday trading years I have spent - I should be fairly consistent.

Only you will know if you can make it - but from all I have seen - I know you have the disciplines needed to make it live - step by step you will get there - you are bound to have ups and downs and hiccups and then you go on - knowing your have conquered it live - just like you have on a demo.

It's maybe a shame you are under the "spotlight" on your own journal - but the good positive side is - everybody following this thread wants you to succeed - we all want to support you to get over the final hurdle .

Please don't worry if it takes another 2 month or 6 months plus - all of us are here to support you

GOOD LUCK - and you definitely deserve it after all the study and hard work you have put in so far - it will happen

Regards

F

 

[sun11]

Thank you Forexmospherian & others for showing your generous support.

Yes being in a spot light is another pressure point. But I will still fight back. I am doing it from age of 19. Its a long time. Can't go back now. Walked too far & scarified a lot.

I will continue on my real account. Will have a cent account too.. Trading on real day by day is the ideal medicine for me.

Good day...
Regards
Sun

 

[Forexmospherian]

Thank you Forexmospherian & others for showing your generous support.

Yes being in a spot light is another pressure point. But I will still fight back. I am doing it from age of 19. Its a long time. Can't go back now. Walked too far & scarified a lot.

I will continue on my real account. Will have a cent account too.. Trading on real day by day is the ideal medicine for me.

Good day...
Regards
Sun

Morning Sun

This will be interesting today

Please - please please - dont feel under loads of pressure - you are in charge of your progress etc - so go your own pace and feel comfortable etc - not thinking - I have to do this for F to keep helping me etc etc.

No you don't - I don't retire for at least another year - that's if I do - more likely will still trade a few days a month etc - so can still help you etc.

I have felt the FX market as been very easy today under my method

Now if you are some of the other guys are not having a good morning - we will check out why ??

Is it down to too much emphasis on scalping ?

Is it not understanding the time rules on levels and all the multi LR's for LiTs areas etc ?

Is it down to being in wrong pairs ??

Is it not being in sync with the market gameplan ??


What ever it might be - feel free to discuss your thoughts openly on here - its your thread and no question is ever totally silly or daft - there will always be some points we dont cover - and they might effect your trading performance

I wish you well - and take it easy etc

Regards


F

 

[keen246]

Look at this beautiful symphony: price turning nicely at exact KTs with LRs showing you the way for great entries and exits. You could easily have made some 70 pips on that 25 pips range!
Unfortunately that is Hindsight trading

I should stop daydreaming and go back to trading real time.

 

[remulix]

Look at this beautiful symphony: price turning nicely at exact KTs with LRs showing you the way for great entries and exits. You could easily have made some 70 pips on that 25 pips range!
Unfortunately that is Hindsight trading

I should stop daydreaming and go back to trading real time.

For a nice chart, its a nice chart !

R.

 

[itspossible]

Unfortunately that is Hindsight trading

And we wouldnt want that

 

[sun11]

Day 74

Morning Sun

This will be interesting today

Please - please please - dont feel under loads of pressure - you are in charge of your progress etc - so go your own pace and feel comfortable etc - not thinking - I have to do this for F to keep helping me etc etc.

No you don't - I don't retire for at least another year - that's if I do - more likely will still trade a few days a month etc - so can still help you etc.

I have felt the FX market as been very easy today under my method

Now if you are some of the other guys are not having a good morning - we will check out why ??

Is it down to too much emphasis on scalping ?

Is it not understanding the time rules on levels and all the multi LR's for LiTs areas etc ?

Is it down to being in wrong pairs ??

Is it not being in sync with the market gameplan ??


What ever it might be - feel free to discuss your thoughts openly on here - its your thread and no question is ever totally silly or daft - there will always be some points we dont cover - and they might effect your trading performance

I wish you well - and take it easy etc

Regards


F

PL: -16
Tried hard....I was mostly at breakeven, then -8, then breakeven, then again -8. Now finally -16.
No of trade: 29
Largest win: 9.3
Largest loss: 4.5
Win rate: 41%

From tomorrow will trade with a cent account until new year..Then after new year if everything is all right..then wills start trading with current ECN broker.

Quality & patience that's all it matters.

I decided to make pictorial journal of each of my trade so that I can review them back with the chart.
I have shared today's trades with the charts.

 

[NickBk]

Look at this beautiful symphony: price turning nicely at exact KTs with LRs showing you the way for great entries and exits. You could easily have made some 70 pips on that 25 pips range!
Unfortunately that is Hindsight trading

I should stop daydreaming and go back to trading real time.

Tide gone out, emperor or just you?
Was it hard to keep it in for a couple of weeks, it's like a secret love I once had!

 

[keen246]

My results for today: +3.2 Net pips.

 

[remulix]

SSS day...

 

[keen246]

View attachment 207152

Sure R those were nice entries. My charts are full of them....but unfortunately when I take them on real time, most turn out to be losers.