Trading sucks!!

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FXfreak
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Trading sucks!!

Postby FXfreak » Tue Oct 02, 2012 5:37 pm

Hi guys,

excellent to see that a lot of the old people are still here. I saw es/pip, dragon33 or mo and some other guys who reminded me of the good old days here...

I spent a lot of time with forex and the end of the story is: TRADING SUCKS!!!!

I'm unable to gain any money although I spent 1000s of hours in front of my screen just watching the charts...I know EVERYTHING about S/L, Momos, higher timeframes, higher highs and hl, liquidity pools, options etc....but I'm still losing money consistently. It sucks!!!!

I have no idea why I'm losing...it can't be the knowledge, it must be something inside me: is it a lack of concentration or a lack of intelligence? Am I too rational? All I know is that I need somebody who shows trading to me in a live session. I want to to feel the other guys emotion....right now I have no idea....

So here is my last wish: Dear es/pip, would you spend one or two days with me on skype and trade with me the ny session?? This help would be much more help than a thousand postings. I need to understand what my personal last missing puzzle is. Perhaps it can't be solved but after a live session with you I'm pretty sure that I'm able to understand between the minds of a winner or a loser.

I want to show you guys why momos and hh and 123 and whatever isn't a good help when it comes to live trading.

Image

let's look at the arrow on the left. it is next to three resistance lines. the question is: which one is correct? in this case the lowest one would have given me the perfect entry. but very often it comes to the upper r and also kills the stops above before moving south again. how shall i trade it? with the correct feeling?? huh? the risk changes from r to r line...feeling doesn't sound like a good answer :-/

arrow number 2: one of my favorites. good swing back into support, a nice higher low. but is it really so nice? no, it would have been a loser. how shall i trade it? shall i click me in and see how price develops live? and don't tell me price came from higher timeframe resistance....in this case yes but i have millions of other examples where no htf r exists...

arrow no 3: price is going down i wait for a lower high to enter. but where exactly? the upper or lower r? or shall i take a long at the s because price is stalling there for many minutes now?

guys, I can give you a million scenarios where I have an explanation for long and for short. It sucks!!!

so, at the end i scream: HELP! H-E-L-P!! dear es/pip, three years ago (I can't believe it!!) you gave me the link to kreslik...you told me to read the information because they can change my life....but after spending 10000s of hours in front of my screen nothing has changed...please spend some hours with me together...i want to solve the missing piece!!

FX

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adaseb
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Postby adaseb » Wed Oct 03, 2012 12:32 am

You're not doing anything wrong.

Your problem is that you expect this "Zeroline" method to have a 100% success rate. That's not what trading is.

You are right when you say that at any given time there are different scenarios and reasons to go short/long.

Trading is all about probabilities and risk/reward. For you at least.

You need to find a VERY good entry point which has a GREATER chance of moving when you enter, while keeping your stop loss tight.

For example, if I take 10 trades. About 6 of them are probably going to be losers or break even. 1 or 2 would of been winners but I either got wiggled out of the trade by using a tight stop loss, or I just used bad judgement and got out of the trade early and the trade ended up working anyways. While the other 2-3 trades end up being large winners that put me ahead for the day. By large i'm talking about 15-25 pips or so. There might also be some winning trades that I missed taking because price never hit my bid/ask, similar to your arrow if you tried shorting at the 2nd or 3rd line.

Most people that scalp and who are successful at it all get the same results. You can't be correct 100% of the time like you are trying to be.

In my opinion the hardest part of trading is when to EXIT a trade. Whether its a winner or loser. You know how it is, sometimes you get stopped out by a pip or two and the trade ends up reversing, happens to all of us.

It all comes down to experience I would say and it also matters what you trade and when.

In my opinion, aside from stock options, currency trading is one of the most difficult instruments to trade out there. Its rare to meet someone who is a successful currency trader. Most of the traders i've met who make money trading they all traded stocks, commodities, bonds, and indicies.

Brokers made it very easy to get into trading currencies by giving us low account deposits, high leverage and low spreads - i guess thats why there are so many forex traders out there.

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es/pip
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Postby es/pip » Wed Oct 03, 2012 1:54 am

WAAAAAAAAAAAAYYYYYYYYYYYYYYYYYY!!!!!!!!!!!! too emotional for trading.

You cannot have this mind-set and trade profitably.

I know you are thinking that i may be spewing s**t here, but it really is 95% psychological and only 5% talent.
------------------------

Look, i already know that by me spending time with you on skype that it will not help, as i have tried that before. I have PERSONALLY in PERSON tried to teach people before and it doesn't work.

All of this comes down to three things.

1. Screen time

2. # 1 leads to a better feel or understanding of PA and what the other traders are doing.

3. The absolute desire to not accept anything less than success. Trading profitably(consistently) is the hardest thing in the world to achieve. You can take the smartest person in the world and put him against the dumbest person in the world, and neither have an edge starting out. It comes down to sheer will.


You also to have to consider the following. What i have shown is HOW I TRADE, and it may not work for you. The people on this site that have become successful have taken the PRINCIPLE of the ideas that were presented, and then tweaked it to how they see things.

95% of traders fail ( higher in my opinion), this number would probably be higher for people who attempt to scalp ( especially when commissions are factored in).


No offense, but if i wanted to teach i would open up a room and charge $500 per month and look to get 300 people in there. I cannot do this for two reasons. First, i know that at least 95% of them would just be pissing their money to me, because i already know 98ish% of them will not make it. Second, it is not worth it to me and i don?t want the headache of dealing with other people.

In fact, i was posting on EliteTrader the other day(different handle), and someone accused me of trying to sell a service. My next post was to the admin and asked if they would delete my posts and username. That site is pure entertainment only. NO ONE GO THERE for any substance, please.

I am telling you 100% straight up.................... this is something that you just have to want bad enough and not accept not getting it done. This is a do or die business. There have been NUMEROUS people that have taken their own lives due to trading. It is RUTHLESS. Take the last fed announcement for example. I would be SHOCKED if some big time boys didn't take that action in the ass. It was tradable though, as long as you fade the herd.

I will be 100% upfront. i am not going to spend that time with you bec i know it will be a waste of time for both of us. And to be honest i wouldn't have the time right now, with trading and having to deal with some medical issues that the "Dr.s" cant figure out. I am fairly sure i have a PHD in ENDOCRINOLOGY based on all the research that i HAD to do. I will however go over your charts and ideas here in this thread. When you post them (if it is not on the chart), include the pair and time frame so i do not have to try and figure it out.

your chart above:
arrow one
a. i would sell that short based on a reaction to that area.
i. there is no way to "know" which area it will respect, you just have to react to what happens.
a. the RR may not have been stellar, but there was a good 8-10 pips off that move.
b. If you take 20 +7s and large size, the s**t adds up.
b. the next bar stopped the longs and got people short
i. i would 100% exit that short and even flip it long most likely.
a. had i not already exited on that low as a planned exit.
ii. A few bars later you have a decent up close momo whatever bar
1. If i wasn't already long i am now
a. may have gotten shaken out at BE on that, but i would have been watching inside and would have to think i would be back in that move just in anticipation of a long move based on the above.
1. spike bar clears the longs
2. gets the dumbasses short
3. then you have momo off it all
a. i am long this ---- no doubt about it.

the 2nd momo bar that spiked your orange line
i am not sure what pair or timeframe this is, but based on how it looks it was something to the left.
i would have scalped it for 10 and out or back into the start of that move
Your 2nd arrow
i would have bought that
would have been watching inside charts when it didn't go, I would look to see where it stopped and why.
after it spikes that prev bar high= 0% chance i am taking a full stop on that.
Your 3rd arrow
i would never suggest entering on lower highs and lows based on the time frame you are trading.
half the time you are going to get trapped like everyone else.
99% of the time i short on bull bars and go long on bear bars.


There isn't really anything i can show you or anyone for that matter, it really is just an understanding of what other traders are doing.

If i was you i would do the following.

100% focus on trying to understand the other traders that are trading what you are trading. Stop thinking, "I am going to", "I think it will", and start thinking like this. 95+% of people lose, so LOOK at what they are doing and then do the opposite of that.
This shint aint easy, and it by no means is for everyone. But if you want to post your charts I will go over them with you.


edit---

i see kreslik's top notch forum hardly handled that formating. Not going to go back and try to fix it. Actually i did, but the site will not allow me to space it correctly. Sigh.

Not SHOCKED by that at all
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 » Wed Oct 03, 2012 2:12 am

To sum up the above.

This just comes down to something that you are going to need to see for yourself.

I LITERALLY cannot show it to you, if i could i would.

If you want it bad enough it will come.
Bend over and assume the position for another 4 years of hope and change.

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MightyOne
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Postby MightyOne » Wed Oct 03, 2012 3:30 am

Position

Lot Size

Expansion

If you do 1 & 2 then 3 will do the rest.

If you will just practice these three things then you will gain more than you can spend.

Trading is not about pips, it is about money.

How do you get money? -->LOT SIZE & EXPANSION<---

How do you keep from losing money? -->POSITION<--

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prochargedmopar
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Postby prochargedmopar » Wed Oct 03, 2012 4:15 am

MightyOne wrote: Trading is not about pips, it is about money.


I could swear that you were related to Joe Ross.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby prochargedmopar » Wed Oct 03, 2012 4:37 am

es/pip wrote:but it really is 95% psychological and only 5% talent.
------------------------


I may be nobody atm,
but I know this is the truth!!!
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

nito
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Postby nito » Wed Oct 03, 2012 9:08 am

Maybe its time for you to try copy trading solutions like zulutrade where you follow and copy other experienced traders.

dchappy
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Postby dchappy » Wed Oct 03, 2012 11:39 am

es/pip wrote:To sum up the above.

This just comes down to something that you are going to need to see for yourself.

I LITERALLY cannot show it to you, if i could i would.

If you want it bad enough it will come.


Yup , could'nt agree more ..............

( hope your health improves )

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prochargedmopar
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Postby prochargedmopar » Wed Oct 03, 2012 2:38 pm

dchappy wrote:
es/pip wrote:To sum up the above.

This just comes down to something that you are going to need to see for yourself.

I LITERALLY cannot show it to you, if i could i would.

If you want it bad enough it will come.


Yup , could'nt agree more ..............

( hope your health improves )


Let Your food be your medicine , and your medicine your food.
Socrates

98% of ALL health problems are SELF inflicted!!!!!!!!

Sounds alot like losing traders. LOL
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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