FOREX-the way I see it.

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newschool
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Postby newschool » Tue Oct 19, 2010 1:46 pm

Money management should be ADAPTED to your strategy. Myself I know that I am kinda in trouble at -20 pips, so I calculate each day what kind of lots I can trade.

Agreed on the live trading. Even if you make only a beer's worth in profit for the day, you wont believe how happy you will be.

I have many Romanian friends in Canada involved in trading, shoutout to Eastern europe !

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ZEN
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Postby ZEN » Tue Oct 19, 2010 1:54 pm

newschool wrote:Money management should be ADAPTED to your strategy. Myself I know that I am kinda in trouble at -20 pips, so I calculate each day what kind of lots I can trade.

Agreed on the live trading. Even if you make only a beer's worth in profit for the day, you wont believe how happy you will be.

I have many Romanian friends in Canada involved in trading, shoutout to Eastern europe !


You are welcomed myfriend ant thanks for your post!
I try to master myself and especialy to master my mind every day.
I want to thank to everybody for their post and for their dialogue with me!
Thanks a lot guys!
Today it's better!

ZEN
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Is this a trend reversal or what!?

Postby ZEN » Tue Oct 19, 2010 3:51 pm




It's this a trend reversal or what!?

I went long at:1.3796 (16:25 GMT), SL: 1.3770, Exit at:1.3812 (16:41 GMT)
Got 16 pips.
And it's still going up.......EDIT: No, it went back going down :lol:
Today it's better!

ZEN
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Forex-best teacher!

Postby ZEN » Wed Oct 20, 2010 6:41 am

Forex is one of the best teacher. Trading forex will uncover your personality. When trading forex you will learn about yourself more than you probably did all your life. Forex is a fast teacher. Trading forex will teach you more than how to make money, will teach you how to master yourself, how to master your mind.
If you are able to make money on forex then you will probably succed in any other business.
Forex will teach you to be patient, will teach you the value of perceverance and persistance and the value of discipline. Forex will teach you the art and science of money-management and risk-management and how to think on long term, how to manage a long term business.
Last edited by ZEN on Wed Oct 20, 2010 8:32 am, edited 1 time in total.
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ZEN
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Before London openning USDCHF.

Postby ZEN » Wed Oct 20, 2010 7:10 am



Long at:0.9676 (07:55 GMT), SL:0.9658, exit at:0.9686 (08:04 GMT)
Got 10 pips.
Today it's better!

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ZEN
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The market was waiting for something! What for?

Postby ZEN » Thu Oct 21, 2010 10:20 am



For a few hours, from 9:45 until 10;50 GMT, the market was waiting for something (see the above picture).

Then, I've put a short order (see below). Short at:1.4007 (11:11 GMT) SL:1.4025 TP:1.3995. Let's see......



Later EDIT: After 10 minutes I've moved SL at 1.4035.

Later EDIT 2: I was wrong or I've put the SL to tight. The SL was hit at 11.47 GMT with a los of 28 pips.
Today it's better!

ZEN
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This time worked!

Postby ZEN » Thu Oct 21, 2010 12:52 pm




EURUSD: Short at:1.4016 (13.04 GMT), SL:1.4050, Exit:1.3996 (13.37 GMT).
Got 20pips.
Today it's better!

ZEN
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EGO-this is for me!

Postby ZEN » Thu Oct 21, 2010 1:16 pm

My mom knows me better. She allways have told me to temper my ego. She knows why! I did'nt know why until I start, even on demo, to trade forex.
Dont't let your ego kill you. Don't let your ego kill your trading account.
Adapt your ego to your reality. I allways have the tendency to inflate my ego in order to fit my dreams and my fantasy. I have to fit my ego to my reality.
When the reality is that you have a small gun with a small bulett in it you can't go to hunt big beasts. With a small gun you only can hunt smaller beasts.
If you have a small trading account don't go to hunt big profits. Only small and decent profits will fit a small account. Otherway the big beasts you are hunting (big profits) will kill you and your account.
I have learned to fit my ego to my reality.
My name is not Brad Pitt and I don't look like him, anyway, so, way should I dream to Angelina!!!??? :lol: :lol: :lol:

Conclusion: We all have ego's. Our EGO can be our most precious friend or our worst enemy. We have to fit our ego to our reality and the reality it's self will lead us to the land of holly grail (wow, this sounds like zen, definitly zen :lol: :lol: :lol: )
Today it's better!

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newschool
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Postby newschool » Thu Oct 21, 2010 5:23 pm

I do look like Brad Pitt. Thus I have huge ego. But I quote Mark Twain : "with arrogance and ignorance, success is assured".

I think they are 2 ways of finding a strategy:
-you stare at charts for days/weeks trying to find a pattern
-or you either think about a logical price action, and then you check if it applies to the charts

ZEN
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Postby ZEN » Thu Oct 21, 2010 6:27 pm

newschool wrote:I do look like Brad Pitt. Thus I have huge ego. But I quote Mark Twain : "with arrogance and ignorance, success is assured".

I think they are 2 ways of finding a strategy:
-you stare at charts for days/weeks trying to find a pattern
-or you either think about a logical price action, and then you check if it applies to the charts


I did and I do both. Yet, I did'n't find any pattern altough I've hardly looked for. So, it remains only the price action logic.
As we all know no-one can predict the forex market therefore there is no pattern, or because there is no pattern. If there would be any pattern then the traders could very easy code these paterns into a mathematical model and this would be the holly grail. But....I keep my mind open to anything, to any possibility.
Today it's better!

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