TygerKrane's Pip-Pickpocketing

[TygerKrane]

[highlight=BLACK]PSYCHOLOGICAL RANT[/highlight]

Excuse the rant, talking it out like this, calling it out like this, (even if the outburst seems extreme or unnecessary) makes it have less and less of an effect on me and I get over it quicker. A frantic mind is not good for me during trading, and I always feel worse afterwards.

Tuesday July 20, was a big day for me somehow, it made a lot of thoughts rise up in me, and I thought it best to write them down so I wouldn't forget what was going on inside of me and to articulate what it was that I have to deal with. I was at work, and as it hit me, I wrote out 11 sticky notes back to back of thoughts that were just pouring out. Sorry if you guys think that I get a bit too mental with this and I should just cool out and not get worked up about every little thing. For myself though, I feel that my psychology is the biggest thing holding me back and keeping me at [highlight=black]"Non-Expert Trader" [/highlight] status. For the purpose of getting through this mental block faster, I will write out each demon that surfaces as I see them so that I can defeat them quicker and move on (that's just how it works best for me.) If I'm trading and I experience a negative thought pattern more than three times, then that is an issue for me and I will target it. I meant to post this up Tuesday night, but was just too busy, so I'm getting it all out now. Maybe others out there might read it and relate, maybe some noobs out there will read it and relate to it as well and be thankful to see someone elses psychological trials and tribulations. Or maybe I am the only one who has ever felt like this, in any case, as long I get through this 'resistance' sooner rather than later, I'll say the ends justify the means and once I'm successful you all can call me Psychopathic-Pipsicology for all I care.
Since there is a Forex market that exists and gives us this opportunity, I want to escape the Rat Race and have no more leash on my life, MORE THAN ANYTHING.

So anywayz, my frustrating issue of the moment is adding into positions.

When adding into orders: getting stingy about the P/L; and frantic as price approaches my average line. Absolutely HATING and DREADING seeing two positive orders both go negative as I see my average line getting crossed, but at the same time not wanting to close the order or move my stop loss to break even b/c I also dread the 'getting wicked out of a great trade' (aka Zlined.) Need to get comfortable with the Swarm Method, need to re-acquaint myself w/ 'That zline could have failed just like any other S/R...' from aliassmith; 'the zlines, MZ areas do not always hold----hence...' from es/pip; and 'Sometimes it works sometimes it doesn't but that is trading...' from dragon33.

--[I actually have a file called Forex Motivational, it has many quotes from the traders here. Just different ways of them saying that this is not a perfect science and to never feel beat down because losses are part of the day-to-day business of this whole Forex venture that we love. It's a message that I need to beat over and over into my head b/c still, if my ego gets bruised it will push me into trading paralysis, like back here. If anyone likes, I will post it.]--

Need to get comfortable with giving up/ risking some of my profit to capture more of what the market will make available to me. {I need to just practice, practice, practice, until I'm not Mr. Scared Chickenshit anymore when it comes to risking part of my gains.)

[MightyOne]

:evil: [highlight=BLACK]PSYCHOLOGICAL RANT[/highlight]

Excuse the rant, talking it out like this, calling it out like this, (even if the outburst seems extreme or unnecessary) makes it have less and less of an effect on me and I get over it quicker. A frantic mind is not good for me during trading, and I always feel worse afterwards.

Tuesday July 20, was a big day for me somehow, it made a lot of thoughts rise up in me, and I thought it best to write them down so I wouldn't forget what was going on inside of me and to articulate what it was that I have to deal with. I was at work, and as it hit me, I wrote out 11 sticky notes back to back of thoughts that were just pouring out. Sorry if you guys think that I get a bit too mental with this and I should just cool out and not get worked up about every little thing. For myself though, I feel that my psychology is the biggest thing holding me back and keeping me at [highlight=black]"Non-Expert Trader" [/highlight] status. For the purpose of getting through this mental block faster, I will write out each demon that surfaces as I see them so that I can defeat them quicker and move on (that's just how it works best for me.) If I'm trading and I experience a negative thought pattern more than three times, then that is an issue for me and I will target it. I meant to post this up Tuesday night, but was just too busy, so I'm getting it all out now. Maybe others out there might read it and relate, maybe some noobs out there will read it and relate to it as well and be thankful to see someone elses psychological trials and tribulations. Or maybe I am the only one who has ever felt like this, in any case, as long I get through this 'resistance' sooner rather than later, I'll say the ends justify the means and once I'm successful you all can call me Psychopathic-Pipsicology for all I care.
Since there is a Forex market that exists and gives us this opportunity, I want to escape the Rat Race and have no more leash on my life, MORE THAN ANYTHING.

So anywayz, my frustrating issue of the moment is adding into positions.

When adding into orders: getting stingy about the P/L; and frantic as price approaches my average line. Absolutely HATING and DREADING seeing two positive orders both go negative as I see my average line getting crossed, but at the same time not wanting to close the order or move my stop loss to break even b/c I also dread the 'getting wicked out of a great trade' (aka Zlined.) Need to get comfortable with the Swarm Method, need to re-acquaint myself w/ 'That zline could have failed just like any other S/R...' from aliassmith; 'the zlines, MZ areas do not always hold----hence...' from es/pip; and 'Sometimes it works sometimes it doesn't but that is trading...' from dragon33.

--[I actually have a file called Forex Motivational, it has many quotes from the traders here. Just different ways of them saying that this is not a perfect science and to never feel beat down because losses are part of the day-to-day business of this whole Forex venture that we love. It's a message that I need to beat over and over into my head b/c still, if my ego gets bruised it will push me into trading paralysis, like back here. If anyone likes, I will post it.]--

Need to get comfortable with giving up/ risking some of my profit to capture more of what the market will make available to me. {I need to just practice, practice, practice, until I'm not Mr. Scared Chickenshit anymore when it comes to risking part of my gains.)

This is so simple TygerKrane,

Price closes over (below) a line and you in turn place an average price above the line.

http://i26.tinypic.com/2vk0shd.gif

You don't have to follow aggressive patterns!

You can place an average anywhere you like:

80% RET = 1 for 4: for every four units, add 1 unit and your average price will be a RET of 80%

70% RET: 3 for 7

60% RET: 2 for 3

50% RET: 1 for 1

40% RET: 3 for 2

You simply go back in time and move your average price to a level where you feel it is "safe" to be short from.

What about moving to/trading long term charts?

Same damn game, bigger chess board...

[TygerKrane]

So after I got that 100+ pip run Tuesday afternoon. I set myself up in position for Wednesday's Australia open. The picture shows my setup. Mentally, I was shaken up by Tuesday's down & up performance and didn't want to give up the gain that I made. I closed out one position (77.382), thinking I would let the second entry ride (short from 76.999) I then quickly realized I couldn't handle losing anything, so I closed out at 77.05.

The picture shows my expectations as I shut off my trading station:

[TygerKrane]

Great timing MightyOne!!
You just pretty much negated the second part of my rant I was about to continue...and as my head is feeling clear, I don't need to just 'get it out there' for therapeutic reasons.

It did start like this though: *clears throat*

It is official, as soon as I close part of a profitable position, it becomes ever so hard for me to give any of it back on the remaining open position, let alone leaving the remaining open position to wick my previous average line, therefore potentially negating all of my profit from that particular trade.

Need to get comfortable with the fact that the 'cushion of profit' is something that I am risking to sacrifice in the name of getting more pips.
I need to balance my risk appetite & my stingyness. I am waaayyyy to good with being stingy and pinching every penny I've earned with a death grip.

Maybe I need to just close out whole positions, and then rebuild a new position each time, based on lower risk and the Swarm Method.
[hr]
[hr]
[hr]
Okay, I'm looking at the blueprint you provided and I'm going to try and own it. I think though that I might need to consider the Swarm Method tho; like I said above, I get so damn stingy with the money I earn.

[TygerKrane]

What about moving to/trading long term charts?

Same damn game, bigger chess board...

Yes, I had some thoughts about that recently as well, I had this post and another post about my issue of trying to hold EVERY trade for major gains; I needed some filter to choose which trades to hold for big pips and which to take for quick pips. It finally made sense why maybe the best way is to hold for big pips only if the trade originated from Daily + Extreme, taking quick pips from other trades.

I also made a statement earlier yesterday about trading bunnies till one lines me up next to a truck that I can hop on. Yes that would be my entry into the bigger timeframes without me sitting around doing nothing but waiting.

It looks like my pairs of choice will be EJ & AJ, (I always HATE IT when I have to leave Japan.)

[TygerKrane]

I wonder if anyone remembered, that I gave myself a countdown to zline mastery.

I said I needed 30 participating trading days to get everything confidently understood. I have done 9 or 10 days so far.

I guess my trading has slowed down a bit as I try to make more meaningful moves that show some type of real reasoning and thought and patience to what I am learning. I want my 30 days to be 30 quality days of real effort.

I have uncovered and solved a bunch of issues in this time thus far.

Growind, Evolving, & Getting Wiser,
~Krane

[webmail4tom]

:evil: [highlight=BLACK]PSYCHOLOGICAL RANT[/highlight]

Excuse the rant, talking it out like this, calling it out like this, (even if the outburst seems extreme or unnecessary) makes it have less and less of an effect on me and I get over it quicker. A frantic mind is not good for me during trading, and I always feel worse afterwards.

Tuesday July 20, was a big day for me somehow, it made a lot of thoughts rise up in me, and I thought it best to write them down so I wouldn't forget what was going on inside of me and to articulate what it was that I have to deal with. I was at work, and as it hit me, I wrote out 11 sticky notes back to back of thoughts that were just pouring out. Sorry if you guys think that I get a bit too mental with this and I should just cool out and not get worked up about every little thing. For myself though, I feel that my psychology is the biggest thing holding me back and keeping me at [highlight=black]"Non-Expert Trader" [/highlight] status. For the purpose of getting through this mental block faster, I will write out each demon that surfaces as I see them so that I can defeat them quicker and move on (that's just how it works best for me.) If I'm trading and I experience a negative thought pattern more than three times, then that is an issue for me and I will target it. I meant to post this up Tuesday night, but was just too busy, so I'm getting it all out now. Maybe others out there might read it and relate, maybe some noobs out there will read it and relate to it as well and be thankful to see someone elses psychological trials and tribulations. Or maybe I am the only one who has ever felt like this, in any case, as long I get through this 'resistance' sooner rather than later, I'll say the ends justify the means and once I'm successful you all can call me Psychopathic-Pipsicology for all I care.
Since there is a Forex market that exists and gives us this opportunity, I want to escape the Rat Race and have no more leash on my life, MORE THAN ANYTHING.

So anywayz, my frustrating issue of the moment is adding into positions.

When adding into orders: getting stingy about the P/L; and frantic as price approaches my average line. Absolutely HATING and DREADING seeing two positive orders both go negative as I see my average line getting crossed, but at the same time not wanting to close the order or move my stop loss to break even b/c I also dread the 'getting wicked out of a great trade' (aka Zlined.) Need to get comfortable with the Swarm Method, need to re-acquaint myself w/ 'That zline could have failed just like any other S/R...' from aliassmith; 'the zlines, MZ areas do not always hold----hence...' from es/pip; and 'Sometimes it works sometimes it doesn't but that is trading...' from dragon33.

--[I actually have a file called Forex Motivational, it has many quotes from the traders here. Just different ways of them saying that this is not a perfect science and to never feel beat down because losses are part of the day-to-day business of this whole Forex venture that we love. It's a message that I need to beat over and over into my head b/c still, if my ego gets bruised it will push me into trading paralysis, like back here. If anyone likes, I will post it.]--

Need to get comfortable with giving up/ risking some of my profit to capture more of what the market will make available to me. {I need to just practice, practice, practice, until I'm not Mr. Scared Chickenshit anymore when it comes to risking part of my gains.)

This is so simple TygerKrane,

Price closes over (below) a line and you in turn place an average price above the line.

http://i26.tinypic.com/2vk0shd.gif

You don't have to follow aggressive patterns!

You can place an average anywhere you like:

80% RET = 1 for 4: for every four units, add 1 unit and your average price will be a RET of 80%

70% RET: 3 for 7

60% RET: 2 for 3

50% RET: 1 for 1

40% RET: 3 for 2

You simply go back in time and move your average price to a level where you feel it is "safe" to be short from.

What about moving to/trading long term charts?

Same damn game, bigger chess board...

MightyOne,

over the last 60 minutes I am trying to understand your message and the chart you have provided.

I just can´t bring it to life

- By "units" you mean lots? i.e. 10,000 or 100,000
- Is the bold blue line the entry point?
- What are the 2 blue dotted lines?
- The -4.5% box is the max. risk from the beginning?

Thank you
Tom

[MightyOne]

:evil: [highlight=BLACK]PSYCHOLOGICAL RANT[/highlight]

Excuse the rant, talking it out like this, calling it out like this, (even if the outburst seems extreme or unnecessary) makes it have less and less of an effect on me and I get over it quicker. A frantic mind is not good for me during trading, and I always feel worse afterwards.

Tuesday July 20, was a big day for me somehow, it made a lot of thoughts rise up in me, and I thought it best to write them down so I wouldn't forget what was going on inside of me and to articulate what it was that I have to deal with. I was at work, and as it hit me, I wrote out 11 sticky notes back to back of thoughts that were just pouring out. Sorry if you guys think that I get a bit too mental with this and I should just cool out and not get worked up about every little thing. For myself though, I feel that my psychology is the biggest thing holding me back and keeping me at [highlight=black]"Non-Expert Trader" [/highlight] status. For the purpose of getting through this mental block faster, I will write out each demon that surfaces as I see them so that I can defeat them quicker and move on (that's just how it works best for me.) If I'm trading and I experience a negative thought pattern more than three times, then that is an issue for me and I will target it. I meant to post this up Tuesday night, but was just too busy, so I'm getting it all out now. Maybe others out there might read it and relate, maybe some noobs out there will read it and relate to it as well and be thankful to see someone elses psychological trials and tribulations. Or maybe I am the only one who has ever felt like this, in any case, as long I get through this 'resistance' sooner rather than later, I'll say the ends justify the means and once I'm successful you all can call me Psychopathic-Pipsicology for all I care.
Since there is a Forex market that exists and gives us this opportunity, I want to escape the Rat Race and have no more leash on my life, MORE THAN ANYTHING.

So anywayz, my frustrating issue of the moment is adding into positions.

When adding into orders: getting stingy about the P/L; and frantic as price approaches my average line. Absolutely HATING and DREADING seeing two positive orders both go negative as I see my average line getting crossed, but at the same time not wanting to close the order or move my stop loss to break even b/c I also dread the 'getting wicked out of a great trade' (aka Zlined.) Need to get comfortable with the Swarm Method, need to re-acquaint myself w/ 'That zline could have failed just like any other S/R...' from aliassmith; 'the zlines, MZ areas do not always hold----hence...' from es/pip; and 'Sometimes it works sometimes it doesn't but that is trading...' from dragon33.

--[I actually have a file called Forex Motivational, it has many quotes from the traders here. Just different ways of them saying that this is not a perfect science and to never feel beat down because losses are part of the day-to-day business of this whole Forex venture that we love. It's a message that I need to beat over and over into my head b/c still, if my ego gets bruised it will push me into trading paralysis, like back here. If anyone likes, I will post it.]--

Need to get comfortable with giving up/ risking some of my profit to capture more of what the market will make available to me. {I need to just practice, practice, practice, until I'm not Mr. Scared Chickenshit anymore when it comes to risking part of my gains.)

This is so simple TygerKrane,

Price closes over (below) a line and you in turn place an average price above the line.

http://i26.tinypic.com/2vk0shd.gif

You don't have to follow aggressive patterns!

You can place an average anywhere you like:

80% RET = 1 for 4: for every four units, add 1 unit and your average price will be a RET of 80%

70% RET: 3 for 7

60% RET: 2 for 3

50% RET: 1 for 1

40% RET: 3 for 2

You simply go back in time and move your average price to a level where you feel it is "safe" to be short from.

What about moving to/trading long term charts?

Same damn game, bigger chess board...

MightyOne,

over the last 60 minutes I am trying to understand your message and the chart you have provided.

I just can´t bring it to life

- By "units" you mean lots? i.e. 10,000 or 100,000
- Is the bold blue line the entry point?
- What are the 2 blue dotted lines?
- The -4.5% box is the max. risk from the beginning?

Thank you
Tom

A unit is x amount of currency...
if you have a 10,000 account then 1u = 10,000c (currency).

No entry points are shown.

The solid orange lines are average entries.

The two dotted blue lines is an area of resistance.

-4.5% is the maximum risk on the trade:

5u: 90 pips = -4.5%
10u: 45 pips = -4.5%
25u: 18 pips = -4.5%

The greater the number of units the more you rely on your cushion of profit to shield you from adverse moves.

[TygerKrane]

[highlight=orange]My FXCM Micro Account now has the No Dealing Desk Functionality.[/highlight]

As of last night, Sunday 7/26/10, I noticed the change. I tried to post then, but the kreslik.com servers were acting funky and not loading up pages for me.

Anyways, it's a lot more of a functionality than I expected:

I expected to place entry orders within 1 pip of the bid/ask;
instead
I can place entry orders within .1 pip (yes, 1 FRACTIONAL pip) of the bid/ask!!!

[TygerKrane]

Long AJ 78.18

Potential Daily extreme, no time to post a chart now though.