Reading these charts is easy!

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highflight230
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Reading these charts is easy!

Postby highflight230 » Tue Sep 14, 2010 1:40 am

Hello,

I've been following TRO quietly for a few years now. I was new to forex when I found NLA and have learned so much from all of you.

A while back I figured I would throw my Christmas bonus into a micro account and have a go at it. I ended up making silly mistakes (ie. closing the broker window with open orders i had forgotten about) and getting very emotional about all the tiny ups and downs of a five minute chart. I lost 50 % of the account and was really mad.

Months have gone by and I decided to pick it up again recently. I thought I knew entries, trade management, exits, using H4 for held profit and M15/5 for fine tuning, but in the heat of battle I fell apart! I found myself trading short into the recent EU rise. Why?? Because I wanted the best entry at the very top of a subsequent move down. Well I kept getting it wrong.. and I got entranced by the M5 and M15 going up and down. I got short when I saw red and then it would turn green and run way up. I would get out for a loss. So I figured since I was wrong I would trade the other way! That should solve it.. so I go Long. It pulls back.. and this time I'm in for more units since I want to make up losses! So i get out again cause it's too much pain for such a small move. Does this sound familiar to anyone? I made over 20 trades in a few hours and still couldn't commit to a direction. I was scared of being wrong.

So I sold off everything after almost halving my account again. I waited.. took a step back. Then it started happening. Things were clicking into place and I said to myself, I'll wait to strike at the right moment this time. It paid off, I got it right and put enough confidence behind my decisions to let it play out. I'm pretty sure I found the precise point on the M5 that Dragon or any other pro would enter on. I learned a lot today. Reading the charts on the Kreslik forums is easy! Getting through the real live moment is a challenge worth conquering. I still have along way to go, but I'm in it to win. Thank you all for posting.

Hf230

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tmanbone
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Postby tmanbone » Tue Sep 14, 2010 1:59 am

Pick yourself up by your boot straps, dust yourself off, and holler next. Join in and ask questions, folks will help.
"The simplicity of the markets is it's greatest disguise"

T

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bredin
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Postby bredin » Tue Sep 14, 2010 10:13 am

highflight,

Youre doing fine.

Well all do (or have done) really dumb things and gotten spanked for it. Glad to see you are working through it.

G.
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PIP'S FARI
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with you HF230

Postby PIP'S FARI » Tue Sep 14, 2010 11:46 pm

HF230 I'm in the same boat as you but keep the effort my youth, there is a couple of bit that I did to help myself out, I remove all indicator, they are just blinding I can see clearly now and trade better without. these efforts and struggle will lead to Unconsciously Competent trading I can't wait for that day,,,,

Education comes from within; you get it by struggle and effort and thought" 
Napoleon Hill
"Whether you believe you can or not, you are right" Henry Ford
"Edison failed 10,000 times before he made the electric light. Do not be discouraged if you fail a few times" Napoleon Hill
http://forextradingwiththepierres.blogspot.com

highflight230
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Postby highflight230 » Wed Sep 15, 2010 12:15 am

Thanks for the comments. I am currently reading Napoleon Hill - Think and Grow Rich right now too Pips Fari. Good inspiration.

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Braathen
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Postby Braathen » Wed Sep 15, 2010 7:40 am

highflight230 wrote:Thanks for the comments. I am currently reading Napoleon Hill - Think and Grow Rich right now too Pips Fari. Good inspiration.


Good man yourself! :) napoleon hill rocks.. 3clipz originally set me up on that book and it sure was an inspiration and an eye opener
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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