stressless trading

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gronga
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stressless trading

Postby gronga » Thu Jan 07, 2010 5:42 pm

Is there such a thing? I sweart this gives me ulcers. no matter what I do, how much I read or think I understand, I end up losing money.

At his point I get crosseyed looking at indicators. The motto simpler is better flys in the face of screenshots filled with dots lines bars smilies semiphores and text of all sizes.
Queries for help are usually rebuffed with terse comment "just look" "its simple" and "read page 90124 of thread XYZ!"

I originally came to this site because I believe in TRO and his indicators. The people were posting and it seemed to be the place free of elitism and sales pitches.

I'm not so sure I'm right though. There are always great people! Please don't get me wrong, I appreciate the help I've seen and gotten when it was available.

At this point though, I don't know what to do. I've killed my accounts learning, and have tey to come accross an indi that I can understand enough to learn from it and develop my own out look. I had high hopes for the 'Rat' but that is not panning out for me. DTB has so much going on, that I'm not sure what is important to pay attention to or not.

Is there a -simple- format I can learn and grow from? A starting point to understanding the information presented in any of these indicators? I am tired of losing money and not understanding why.
Oh, and just to forestall the posts that say "Buy low and sell high", or the reverse, yeah, I know. We all know. Doing it is the hard part.

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Braathen
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Postby Braathen » Thu Jan 07, 2010 6:18 pm

Right so.. making money in life.. i bet u 95% of people on earth find it stressfull to make money... and if they dont im sure they are stressed at the fact they aint got no money :P there are ofc the lucky bastards who 1 shoted the pot of gold. Then theres another thing... do u find it stressfull to press a mouse button or is it the fact that you are losing money thats stressfull? When u open a company there are tons of stressfull things.. Am i gonna make money? employees.. inventory... company car payments.. pleasing customers (yes this is very stressfull sometimes) the happy face etc etc.. i know losing your money sucks but i dont see the stressfactor on any other part. Yes i am stressed cuz im not making millions trading just like you but still... this aint stress... not even close in my opinion ofc.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

BillyT
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Postby BillyT » Thu Jan 07, 2010 7:56 pm

I have been trading for a very long time my friend.
All traders have busted an account or 2 while learning....think of it as tuition fees.
The way to be successful is:
1.FORGET about indicators and learn as much as you can about candlestick patterns, psych patterns and fibs.
2.Choose one currency pair and watch the charts for hours and see how the market moves..you will start to see regular patterns form.
3. Learn about yourself..your weakness/strenghth.. every trade is made from one of two emotions , fear or greed.
Neither one is bad..the secret is to find the balance between the two and then you will be a successful trader my friend.
Kindest Regards,
BillyT

Once again , FORGET ABOUT INDICATORS.

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RicG
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Re: stressless trading

Postby RicG » Thu Jan 07, 2010 10:08 pm

gronga wrote:Is there such a thing? I sweart this gives me ulcers. no matter what I do, how much I read or think I understand, I end up losing money.

At his point I get crosseyed looking at indicators. The motto simpler is better flys in the face of screenshots filled with dots lines bars smilies semiphores and text of all sizes.
Queries for help are usually rebuffed with terse comment "just look" "its simple" and "read page 90124 of thread XYZ!"

I originally came to this site because I believe in TRO and his indicators. The people were posting and it seemed to be the place free of elitism and sales pitches.

I'm not so sure I'm right though. There are always great people! Please don't get me wrong, I appreciate the help I've seen and gotten when it was available.

At this point though, I don't know what to do. I've killed my accounts learning, and have tey to come accross an indi that I can understand enough to learn from it and develop my own out look. I had high hopes for the 'Rat' but that is not panning out for me. DTB has so much going on, that I'm not sure what is important to pay attention to or not.

Is there a -simple- format I can learn and grow from? A starting point to understanding the information presented in any of these indicators? I am tired of losing money and not understanding why.
Oh, and just to forestall the posts that say "Buy low and sell high", or the reverse, yeah, I know. We all know. Doing it is the hard part.



Hi,

It sounds to me like you are having more of an issue with the psychology of trading, since many on this board are having success with the "systems" that you have tried.

I would suggest reading, absorbing, and applying the information in the book, "Trading In The Zone" by Mark Douglas. This book is about the "Mental Analysis" part of trading - which is the most important part. Forget about "systems", technical analysis, etc, and get the psychological/emotional part figured out first.

Regards,
Ric

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newschool
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Postby newschool » Fri Jan 08, 2010 12:25 am

You are looking at trading as if it was a dark guru mental stage that you only reach when you are very successfull...

It is simply money management! You bet more on things that you think will go up, and you cut your losses, because you can never really predict where price will move.

I suggest you go back to the basics with "Zurich Axioms", its about why some people choose to invest and the psychology behind it.

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retireme
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Postby retireme » Fri Jan 08, 2010 1:23 am

Gronga

Lots of advice and good information already and I feel obliged to offer you some too. Whether you take it or not is entirely up to you.

IMHO you are trying to learn too much too fast and not mastering one portion of it before moving on to the next. It is a step change that is required from you, not a headlong leap.

I imagine you are learning with a live account because of the difference between Demo and Live account mindset. If you continue to do this, you will lose another account, rest assured.

So... what is my advice?



1. Pick a system that you are the most comfortable with. (DTB, RAT, Mighty Zones, Zlines, so many to choose from)

2. Have a plan. (This must be made taking into account the amount of money you have, the amount you are willing to risk on each trade, when will you trade, what is your profit and loss limit for the day)

3. Read everything about that system. (When you don't understand something ask questions. HINT: Be specific, you are more likely to get a response.)

4. Trade on "DEMO accounts only" until you know exactly how this system works. (Its strengths, its weaknesses)

5. Know yourself. (Your trading strengths, your trading weaknesses) If you have confidence in your ability to make a system work and you understand when it doesn't, you are more likely to have confidence in yourself and your trading style.

6. Fund an account and start to trade your system and plan. (Stick to your plan, stick to the system. When you have a win, understand why! When you have a loss, understand why!)




I know you have probably heard all this before, everywhere you turn is advice. There is a reason for that... because it is the path to success! Only YOU know yourself, people cannot give specific advice about your trading psyche as everyone is different.

Don't give up, if you have a bad day, week, month.... go back to step one! You will be surprised at how well you get to know yourself.

I wish you success in your endeavour.

Kindest regards

Retireme

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Braathen
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Postby Braathen » Fri Jan 08, 2010 1:26 am

I know that wasnt ment for me but that hits the spot.. thanks retireme
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

gronga
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Postby gronga » Fri Jan 08, 2010 2:09 am

Thanks for all the replies and advice. :) I need it!

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retireme
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Postby retireme » Fri Jan 08, 2010 6:13 am

gronga wrote:Thanks for all the replies and advice. :) I need it!


Hey Gronga

I have a test for you... all you have to do is follow the link attached to the "Click Here" below. When the page opens, draw a line through and disregard any of the rules that don't apply to YOU!

Click Here

Please post back with the number of lines you crossed out...

Regards
Retireme

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MightyOne
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Postby MightyOne » Fri Jan 08, 2010 9:09 am

Think in years and not in months because that is how long it takes before you feel like you know what you are doing.

Make simple observations and trade what is working right now.

Systems will fail you :shock: but logic stands the test of time.

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