Thanks for all the warm wishes and welcome !
Sorry haven't posted in a few days.
I decided not to trade NFP day as have previously blown accounts.
Sadly however, Thursday knocked my confidence and I feel like even without Thursdays misfortunes I feel like it's so much easier to lose pips than to make them I feel like making 1 pip in 3 hours trading is not a good return on investment... I can't work out if I need to have smaller SL than TP. Or if this fixed idea is the problem; maybe I need to learn to 'flow with the market' and 'take what I can'.
Not sure anyway been reading loads of forums that TRO has started on Kreslik, trying to pick out any pointers or hidden gems I can!!! TRO says a lot to trade what you SEE but I'm not sure about this yet.
Yesterday, I lost two trades and won 1 for total = -£3.72. Yes I changed strategy but it was still a horizontal line cross. I changed to EU as I realised the pip value was larger (for 0.01 lots 1 pip is £0.08 instead of on USDJPY £0.053), I also thought bigger SL/TP might help. Maybe over the course of a week/month it may do as I have backtested the idea for past 3 months and it is net positive.
Basically one day I think I know what I'm doing and the next I feel stupid and like I'm just stabbing in the dark. Sigh
Maple's Trading Journal to Success
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Re: Maple's Trading Journal to Success
On a POSITIVE note as I feel that post was a bit woe is me...
- I haven't moved my Stop loss in the past week
- I haven't blown my account
- I avoided trading NFP day even though I had FOMO
So positives are happening, just hard to see and recognise !
- I haven't moved my Stop loss in the past week
- I haven't blown my account
- I avoided trading NFP day even though I had FOMO
So positives are happening, just hard to see and recognise !
Re: Maple's Trading Journal to Success
maplegum wrote:Thanks for all the warm wishes and welcome !
Sorry haven't posted in a few days.
I decided not to trade NFP day as have previously blown accounts.
Sadly however, Thursday knocked my confidence and I feel like even without Thursdays misfortunes I feel like it's so much easier to lose pips than to make them I feel like making 1 pip in 3 hours trading is not a good return on investment... I can't work out if I need to have smaller SL than TP. Or if this fixed idea is the problem; maybe I need to learn to 'flow with the market' and 'take what I can'.
Not sure anyway been reading loads of forums that TRO has started on Kreslik, trying to pick out any pointers or hidden gems I can!!! TRO says a lot to trade what you SEE but I'm not sure about this yet.
Yesterday, I lost two trades and won 1 for total = -£3.72. Yes I changed strategy but it was still a horizontal line cross. I changed to EU as I realised the pip value was larger (for 0.01 lots 1 pip is £0.08 instead of on USDJPY £0.053), I also thought bigger SL/TP might help. Maybe over the course of a week/month it may do as I have backtested the idea for past 3 months and it is net positive.
Basically one day I think I know what I'm doing and the next I feel stupid and like I'm just stabbing in the dark. Sigh
You don't have the money to trade, that's the problem
Suffering real loss, dulling the pain in a cold shower, and running towards an uncertain future is how you come out the other side a hero.
If you're going to act like a pssy then that's all you'll ever be.
You can do this, just not how you're doing it;
trading is hard enough as it is without chopping off your own feet.
Step 1:
- open a futures account in an amount equal to 300 working hours.
- 90 hours is for risk, 210 hours is set aside as margin money.
- assuming you're not a bum, you're risking no more than 2.5 weeks of work.
Step 2:
- find something for which you have the margin to trade at least 3 contracts, and trade it with 1 contract:
with money for at least 4 contracts, preferably 5, you can start entering trades in two parts.
Money for:
3: trade 1-1
4: trade 1-1, or 2.
5: trade 1-2
6: trade 1-2, or 3.
7: trade 1-3
8: trade 1-3
Step 3:
- start by trading H4 charts, entering with the help of the minute chart:
- watch the M1 until you reach the target position size.
- when the H4 closes beyond an extreme, manage the trade from the H4.
- if it feels like the H4 has reached a top or bottom, go back to managing from the M1.
Step 4:
- gain a cushion of profit, remove risk, increase lot size towards your max size (money for 3, 4, . . . 8 )
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
- Yirbu
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Re: Maple's Trading Journal to Success
IgazI wrote:maplegum wrote:
Basically one day I think I know what I'm doing and the next I feel stupid and like I'm just stabbing in the dark. Sigh
You don't have the money to trade, that's the problem
There really is nothing more to add after IgazI's post.
The only thing is that if you are starting, you might be better of on demo. There is so much to learn and this will take some time. No need to burn money.
Re: Maple's Trading Journal to Success
Thanks for the posts of advice. Came off a bit harsh but that's your prerogative I guess!
The reason I was trading with 0.01 lots is because I found TRO recommend that to many beginners.
I've previously put much more significant money in an account and within days it was down by 10% so I don't feel like doing that again until I can build up even a £100 account.
I will take on your advice about splitting out the money side when I do have the confidence to trade a larger account as that is invaluable information.
The bit I am not sure about is the strategy you are suggesting in step 3 about using H4 and M1 to trade off? Are you referring to the psychological lines still ?
And lastly why do you suggest I trade futures not forex ?
The reason I was trading with 0.01 lots is because I found TRO recommend that to many beginners.
I've previously put much more significant money in an account and within days it was down by 10% so I don't feel like doing that again until I can build up even a £100 account.
I will take on your advice about splitting out the money side when I do have the confidence to trade a larger account as that is invaluable information.
The bit I am not sure about is the strategy you are suggesting in step 3 about using H4 and M1 to trade off? Are you referring to the psychological lines still ?
And lastly why do you suggest I trade futures not forex ?
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Re: Maple's Trading Journal to Success
maplegum wrote:Thanks for the posts of advice. Came off a bit harsh but that's your prerogative I guess!
The reason I was trading with 0.01 lots is because I found TRO recommend that to many beginners.
I've previously put much more significant money in an account and within days it was down by 10% so I don't feel like doing that again until I can build up even a £100 account.
I will take on your advice about splitting out the money side when I do have the confidence to trade a larger account as that is invaluable information.
The bit I am not sure about is the strategy you are suggesting in step 3 about using H4 and M1 to trade off? Are you referring to the psychological lines still ?
And lastly why do you suggest I trade futures not forex ?
I have nothing to sell but have you checked the 3 links in my signature? They will take you to the 1st posts of my threads and in there, you have even more links that you can study from. Study them, practice them, write your entire journey and then every now and then review your WIL book. If, after at least 3 years of practice and many times of reviewing/revisiting your WIL book you're still in the traders-who-are-losing-money stage then you must take a mental break of at least 3 months and get your sorry ass back in here again.
Of course, there are other threads here in kreslik and they're all GREAT. IF YOU ALREADY KNOW WHAT YOU'RE LOOKING FOR. I can say that Aliassmith's Deadhorse thread is very easy to follow and you definitely must stay away from MightyOne's (MO) thread because from the looks of it, you're not ready yet.
Also, you gotta understand that the folks here are not like your average audience/readers that you'll find anywhere else. IgazI is not harsh, he's there to wake you up.
Imagine you got a cancer that you're not aware of and instead of saying:
"well, Mr. Mapple you have a cancer in your body that must be treated immediately because there is still a chance to reverse that"
the doctor will just say:
"aww your recent pain in the stomach is really nothing. Just eat healthy and exercise regularly and always think positive"
Which one do you think will save you?
My threads
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Re: Maple's Trading Journal to Success
Don_xyZ wrote:maplegum wrote:Thanks for the posts of advice. Came off a bit harsh but that's your prerogative I guess!
The reason I was trading with 0.01 lots is because I found TRO recommend that to many beginners.
I've previously put much more significant money in an account and within days it was down by 10% so I don't feel like doing that again until I can build up even a £100 account.
I will take on your advice about splitting out the money side when I do have the confidence to trade a larger account as that is invaluable information.
The bit I am not sure about is the strategy you are suggesting in step 3 about using H4 and M1 to trade off? Are you referring to the psychological lines still ?
And lastly why do you suggest I trade futures not forex ?
I have nothing to sell but have you checked the 3 links in my signature? They will take you to the 1st posts of my threads and in there, you have even more links that you can study from. Study them, practice them, write your entire journey and then every now and then review your WIL book. If, after at least 3 years of practice and many times of reviewing/revisiting your WIL book you're still in the traders-who-are-losing-money stage then you must take a mental break of at least 3 months and get your sorry ass back in here again.
Of course, there are other threads here in kreslik and they're all GREAT. IF YOU ALREADY KNOW WHAT YOU'RE LOOKING FOR. I can say that Aliassmith's Deadhorse thread is very easy to follow and you definitely must stay away from MightyOne's (MO) thread because from the looks of it, you're not ready yet.
Also, you gotta understand that the folks here are not like your average audience/readers that you'll find anywhere else. IgazI is not harsh, he's there to wake you up.
Imagine you got a cancer that you're not aware of and instead of saying:
"well, Mr. Mapple you have a cancer in your body that must be treated immediately because there is still a chance to reverse that"
the doctor will just say:
"aww your recent pain in the stomach is really nothing. Just eat healthy and exercise regularly and always think positive"
Which one do you think will save you?
Thank you Don for your reply.
I will take a look at your 3 links and the alias deadhorse threads and report back here my findings.
Its definitely hard at the start when there are so many options. I thought by picking TROs favourite psych lines I was in with a chance of learning to trade well but maybe others on this forum don't think that is enough.
cheers again
Re: Maple's Trading Journal to Success
maplegum wrote:Don_xyZ wrote:maplegum wrote:Thanks for the posts of advice. Came off a bit harsh but that's your prerogative I guess!
The reason I was trading with 0.01 lots is because I found TRO recommend that to many beginners.
I've previously put much more significant money in an account and within days it was down by 10% so I don't feel like doing that again until I can build up even a £100 account.
I will take on your advice about splitting out the money side when I do have the confidence to trade a larger account as that is invaluable information.
The bit I am not sure about is the strategy you are suggesting in step 3 about using H4 and M1 to trade off? Are you referring to the psychological lines still ?
And lastly why do you suggest I trade futures not forex ?
I have nothing to sell but have you checked the 3 links in my signature? They will take you to the 1st posts of my threads and in there, you have even more links that you can study from. Study them, practice them, write your entire journey and then every now and then review your WIL book. If, after at least 3 years of practice and many times of reviewing/revisiting your WIL book you're still in the traders-who-are-losing-money stage then you must take a mental break of at least 3 months and get your sorry ass back in here again.
Of course, there are other threads here in kreslik and they're all GREAT. IF YOU ALREADY KNOW WHAT YOU'RE LOOKING FOR. I can say that Aliassmith's Deadhorse thread is very easy to follow and you definitely must stay away from MightyOne's (MO) thread because from the looks of it, you're not ready yet.
Also, you gotta understand that the folks here are not like your average audience/readers that you'll find anywhere else. IgazI is not harsh, he's there to wake you up.
Imagine you got a cancer that you're not aware of and instead of saying:
"well, Mr. Mapple you have a cancer in your body that must be treated immediately because there is still a chance to reverse that"
the doctor will just say:
"aww your recent pain in the stomach is really nothing. Just eat healthy and exercise regularly and always think positive"
Which one do you think will save you?
Thank you Don for your reply.
I will take a look at your 3 links and the alias deadhorse threads and report back here my findings.
Its definitely hard at the start when there are so many options. I thought by picking TROs favourite psych lines I was in with a chance of learning to trade well but maybe others on this forum don't think that is enough.
cheers again
Don't get me wrong, everyone here, me included, learn from TRO and the other senior master traders who were here before us. It's just that my threads are super organized they make it easier for people to learn. Back then TRO's several threads don't have as many pages as you see today. As you can see from my profile I was here since more than a decade ago. You can always branch out, no one will stop you from doing so and in fact, we all agree that we must learn a lot of things. Just take it step by step so as to not overwhelm yourself with the amount of information provided in kreslik. I promise you, there is no other place like Kreslik.
My threads
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Patterns Observation
post148989#p148989
BONZ
post151670#p151670
MENTAL FORTIFICATION
post168148#p168148
Re: Maple's Trading Journal to Success
maplegum wrote:Thanks for the posts of advice. Came off a bit harsh but that's your prerogative I guess!
The reason I was trading with 0.01 lots is because I found TRO recommend that to many beginners.
I've previously put much more significant money in an account and within days it was down by 10% so I don't feel like doing that again until I can build up even a £100 account.
I will take on your advice about splitting out the money side when I do have the confidence to trade a larger account as that is invaluable information.
The bit I am not sure about is the strategy you are suggesting in step 3 about using H4 and M1 to trade off? Are you referring to the psychological lines still ?
And lastly why do you suggest I trade futures not forex ?
You might not like it, you might not even be ready for it, but today is the day you learn to fly
You might die, sure, but that is better than raising a weak bird.
Harsh? perhaps! but so is the world.
If you're willing to flap your wings, harder than you've ever flapped them, then you just might live.
I see what you are doing, and I know that you're going to fail; that's why I am trying to save you years of heartache
"Everything Should Be Made As Simple As Possible, But Not Simpler!"
- kiwiarian
- rank: 500+ posts
- Posts: 769
- Joined: Thu Dec 23, 2021 8:15 am
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- Gender:
Re: Maple's Trading Journal to Success
maplegum wrote:Decided to start my own trading journal. I've tried for months to stick to rules on my own to no avail so I'm hoping the accountability that posting my trades each day on here will help snap me into gear!
My worst mistakes I need to overcome are:
- Moving Stop Losses once set (= blown accounts and MM out of window)
- Changing strategy after a string of losses on 1
- Overtrading (sometimes 9+ hrs per day and ALWAYS results in losing day)
- Cutting winners early (due to FEAR and stress felt even trading 0.01 lots)
Anyway, thanks TRO for all your videos and posts, I have probably spent 100's of hours over the last year going through your content and it is much appreciated.
This is a long game as well, so mentally prepare for it.
Its one thing learning a few systems, learning to execute and sorting out your emotional demons are the things that will make or break you and will take the most time.
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