FXfreak Trading Journal III

If you don't know where to start, start here! Don't be afraid to ask questions.

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Karma
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Postby Karma » Mon Dec 03, 2012 1:44 pm

You should always trade relatively small amounts in respect to your account size. Or at least your account deposit size

I believe Es trades with like 1% risk over a rather small amount of space

I'm risking 2% over 100 points or so, quickly expanding my lot size as my trade goes farther and farther my way

I'm not sure how much you've read here, but trading should be based on a fairly rigid set of rules. You don't want to feel like you're gambling
"Profit is found in a thinking mind. If you come to this . . . with pen and paper in hand then you will fail to find the beauty that exists within yourself." - MightyOne

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es/pip
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Postby es/pip » Mon Dec 03, 2012 6:35 pm

FXfreak wrote:@ es
I'm unsure which trades you are reffering to (you post with 1,2,3,4)? Could you mark the trades in my screenshot? Thanks!!


es/pip wrote:1. your long was obv good.

2. i can see the second long and nothing wrong with that, but it was long into m5 momo up, but it came in to that with momo down. have to be tight with that one.

3. Then the next pa swing down was m15 momo down, which also created a h1 wicking the highs and closing off them, then that retrace into that was a short---- based on all of the above.

4. came down into some demand, can scalp out of that, especially off the m5 dbl bottom into it, rallies back into minor supply and shoulder ( short scalp).

etc etc


when you read the above and look at your charts do you see this?
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Bend over and assume the position for another 4 years of hope and change.

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es/pip
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Postby es/pip » Mon Dec 03, 2012 6:59 pm

FXfreak wrote:@es
perhaps you are right, but i don't feel like a winner. i started with 700 EUR at the beginning of november and lost 50% in only 30 days :-/

the trades i take now are extremly based on my feelings which often led to losses in the last years. I'm now trading really small amounts...i hope it will click soon ;-)


Losing 50% in a month is crazy.

What risk % were trading at?

If you cant make money at 1 cent a pip then you cannot make money at 1k a pip.

No one ever wants to believe this, and i cannot understand it. You need to trade live because demo is a waste of time. While trading live you have to trade at a level that has no bearing on your account. You will not make any money and you will not lose any money, relatively speaking.

Emotions will still be present even though there is relatively no money at risk.

This is the time that you learn and see if you can even do it or not. If you can't or it takes you 6-12 months and you get your balls kicked in you will not lose hardly any money.

Once you prove it to yourself that you can do it, and that you have done it........ THEN you scale up.

Still baffles me why people try and just throw s**t at the wind and hope it works out ok, and then they lose 50k in 3 days, before taking the time to do it properly.
Bend over and assume the position for another 4 years of hope and change.

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dojirock
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Postby dojirock » Mon Dec 03, 2012 7:38 pm

short 57....
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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Postby dojirock » Mon Dec 03, 2012 8:07 pm

what did you guys do unplug the market........out... -1
"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

"Once you stack, you'll never go back!"

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Postby MightyOne » Mon Dec 03, 2012 9:55 pm

When I said that a small loss is just as satisfying as a large gain, I wasn't talking about taking small losses for no reason :)

At least watch a 5 min HA chart for a close over the high of any color change candle.
Liquidating just because price is not moving is a bit EMO.

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Postby PebbleTrader » Mon Dec 03, 2012 11:38 pm

Calm before the storm.
Life is just a journey

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dojirock
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Postby dojirock » Mon Dec 03, 2012 11:45 pm

lol...i know mo...i was at work and had to leave the screen.....

i could have netted some i see later...
"A small loss is just as satisfying as a large gain" -MO

"Sometimes we need to stop learning and start thinking...."

"Once you stack, you'll never go back!"

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Postby speed26 » Tue Dec 04, 2012 8:05 pm

FXfreak wrote:some guys are watching the thread. if you also have trades feel free to post them ;-)


Im one of them watching.

What ive noticed with the likes of es/pip, Ajay, Adaseb scalping is that they are very VERY quick to pull out when things dont pan out. Instead of hoping they simply exit at very small loses in the range of -1 to -4 ticks (if im correct).

With this in mind i think a key factor to pulling it of consistently is more down to trade management as opposed to entries (yes, good entries are key, yet exiting be it small or large is also key).

So ive been looking up info on time & sales wondering if this could somehow show potential 'signs' that a trade is not going to follow through as intented...say like a way to get precision entries and ways to get out really REALLY fast when things dont pan out.

Have you looked into any of this before out of curiosity?

Regards.

EDIT: Dont mean to derail your thread FxFreak, just thought it could be appropriate to ask you (of course T/S is only applicable to futures and not spot...).

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Postby Karma » Tue Dec 04, 2012 10:08 pm

you can use limit orders to PICK the price you want

it doesn't get much more precise than that
"Profit is found in a thinking mind. If you come to this . . . with pen and paper in hand then you will fail to find the beauty that exists within yourself." - MightyOne

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