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pika
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Postby pika » Sun Nov 14, 2010 4:23 pm

genlogins wrote:Why I am so fed up today?

Because I saw why I am down this week.

I saw my SL being hit a few times by 0.1 of a pip. Yes, that is 6 digit account, and it is 1 tenth (1/10) of a pip.

Price moved back up to my SL and than run my way.

I think the brokers can, and will take all they can from you. Reason why 95% people also loose.

Gen


Hi Gen,
Such an experience is not uncommon in trading, just as escaping a SL being hit narrowly by 0.1 pip is also possible. We tend to be selective in feeling hurt to a higher degree and feeling good to a lesser extent. Ask yourself which experience will make you remember it longer - losing from being stopped out by 0.1 pip, or taking a profit at 0.1 pip from the highest price before it reverses on you? Probably you will remember the loss more than the win because it hurts so much. Who would you have ascribed your winning success to in the latter case? Yourself isnt it? After all, you are the one who have set the profit target right? Now both scenarios are symmetrically opposite, but why the difference in emotional intensity and reasoning? Simply because we are selectively biased and unable to accept the unpleasant outcome. The loss makes us more risk-averse and the win makes us over-confident. This emotional state is not conducive to our trading mindset. When we enter a trade, we must not associate any feelings to it or its outcome. If we win, we win. If we lose, we lose. That's it. We should have seen to our emotional and mental fitness before the trade entry, and not after. This is easier said than done, thats why 95% of people lose.

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ajaymein
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Postby ajaymein » Sun Nov 14, 2010 4:32 pm

If you win a trade and take pride in the setup and feel good about it, you are taking responsibility for your win.
If you lose a trade and get upset and blame the dealer/Internet/family/boogie monster instead of saying OH WELL I will win the next one, you are NOT taking responsibility for the loss.

Once a trader learns to take FULL 100% accountability for his losses just like he prides and boasts his gains, he is one step closer to making all his dreams come true.

Sorry, but NO MATTER WHAT, if you blame someone else for ANYTHING that happens in YOUR forex account, YOU are the LOSER and will NEVER make it in this market because you do NOT have control over yourself, let alone your ability to successful trade in this jungle.

Don't mean to be blunt or rude, but that is just the facts.

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ajaymein
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Postby ajaymein » Sun Nov 14, 2010 4:36 pm

genlogins wrote:Why I am so fed up today?

Because I saw why I am down this week.

I saw my SL being hit a few times by 0.1 of a pip. Yes, that is 6 digit account, and it is 1 tenth (1/10) of a pip.

Price moved back up to my SL and than run my way.

I think the brokers can, and will take all they can from you. Reason why 95% people also loose.

Gen


So if you put your stop loss .2 pips higher/lower, you probably would have felt really good and thought your experience level was suddenly increasing since you oh so cleverly placed your stoploss at the absolute perfect spot?

Unless you are trading 10,20,30 Full lot sizes, your broker doesn't give 2 shits where your stop is!

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bredin
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Postby bredin » Sun Nov 14, 2010 10:35 pm

Unless youve picked a market maker as your broker, and they have the opposite side of your trade :lol:

G.
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adaseb
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Postby adaseb » Mon Nov 15, 2010 12:18 am

Why are you trading with a 6 digit account when you clearly don't know what you are doing.

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genlogins
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Humor

Postby genlogins » Mon Nov 15, 2010 6:46 pm

:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:


I just cannot stop myself the laughing, it is such a great emotion.


I start reading from the top of this page and when I read adaseb about the 6 digits, I am still laughing.

Adaseb, I chose Alpari, and they gave me 6 digits account.

6 digits is better to see where you can actualy get out even with break even + 0.1

In terms of trading that 0.1 with different bigger lot can become $10 $100 $1000, as you know it.

Gen

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genlogins
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Postby genlogins » Mon Nov 15, 2010 6:47 pm

Oh.........

Thanks Pika, Ajaymein, and Bredin for help.

Gen
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The Way To Money Is Using Simplicity And Take Small Loses

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adaseb
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Re: Humor

Postby adaseb » Mon Nov 15, 2010 6:57 pm

genlogins wrote::lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:


I just cannot stop myself the laughing, it is such a great emotion.


I start reading from the top of this page and when I read adaseb about the 6 digits, I am still laughing.

Adaseb, I chose Alpari, and they gave me 6 digits account.

6 digits is better to see where you can actualy get out even with break even + 0.1

In terms of trading that 0.1 with different bigger lot can become $10 $100 $1000, as you know it.

Gen


The correct term would be pipettes

When you say 6 digit it sounds like you are trading with a 6 figure account.

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genlogins
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Postby genlogins » Mon Nov 15, 2010 10:09 pm

Ah.... I really thought about that but after answering.
Thanks m8, but If I had a 6 figure in an account I would be in the Bahamas trading in the sun.

I only have a 2 figure (Now after big loss).
Gen
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The Way To Money Is Using Simplicity And Take Small Loses



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ajaymein
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Postby ajaymein » Mon Nov 15, 2010 10:15 pm

genlogins wrote:Ah.... I really thought about that but after answering.
Thanks m8, but If I had a 6 figure in an account I would be in the Bahamas trading in the sun.

I only have a 2 figure (Now after big loss).
Gen


Find a broker that gives you at least 500:1 leverage and if you know what you're doing, you can turn those 2 digits into 4 :D

At least I've done it a few times rather luckily...but you will probably lose so don't try it as it is dangerous. :lol:

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