70% Account Drawdawn.

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genlogins
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Postby genlogins » Mon Jan 10, 2011 9:19 pm

Tuition can be expensive in Forex. :lol:

Have you being in such situation, what were your initial feelings?

Have those feelings still coming sometimes?

And how you control them?
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The Way To Money Is Using Simplicity And Take Small Loses

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genlogins
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Postby genlogins » Tue Jan 11, 2011 5:29 pm

Today I put a side most of emotions from trading.
Results are that on my first day of trading I got +15.8 pips without loses.

Take a look here.

http://kreslik.com/forums/viewtopic.php ... &start=210
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genlogins
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Postby genlogins » Thu Jan 13, 2011 10:38 pm

Today I increased the account by 4%.

I learn that I also need to stop thinking about past trades very fast if I am still trading. Or think fast.

Please check here what happened.

http://kreslik.com/forums/viewtopic.php?p=50849#50849


Thanks.
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genlogins
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Postby genlogins » Fri Jan 14, 2011 6:16 pm

Today I increased the account by 30%, check out here

http://kreslik.com/forums/viewtopic.php?p=50889#50889


I was thinking in staying in the game the hole day to take more pips, but I felt I was getting too greedy. So, I went shopping instead.
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genlogins
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Postby genlogins » Mon Jan 17, 2011 10:23 am

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genlogins
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Postby genlogins » Mon Jan 17, 2011 11:01 am

I got that 15% today because I went in with double lot size.

I NOW feel I need to learn more about money management otherwise I may end up taking too long to grow the account or worse, blow the account.

Anyone has tips or URLs about money management?

Thanks in advance.
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bredin
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Postby bredin » Mon Jan 17, 2011 11:29 am

check out MOs Space Wars ;)

Remember that 1% per day does stupid things to your account in only a couple of years.

G.
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forexbob
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Postby forexbob » Mon Jan 17, 2011 1:56 pm

indeed, understand compounding (1% per day will add a zero to your balance in a year)

instead of doubling, start small and when in profit (sl 2 breakeven) add at certain place to your position when price action is going in your direction.
follow the tip of bredin.(--> MO's thread)

further i remember 3clipz referred to chapter 7 (for MM) of the following book:
COME INTO MY TRADING ROOM
A Complete Guide to Trading
Dr. Alexander Elder
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genlogins
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Postby genlogins » Tue Jan 18, 2011 10:58 am

thanks, guys.
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Shinobi-X
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Postby Shinobi-X » Wed Jan 19, 2011 1:48 am

@genlogins

Ryan Jones has a great book called The Trading Game:

h t t p ://www.amazon.com/Trading-Game-Playing-Numbers-Millions/dp/0471316989

(no affiliate links).

MO's Space Wars is also great.
The gap between reality and dream is called action.

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