lukx zline trading log + cfabian p.35 + adaseb p.48

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MightyOne
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Postby MightyOne » Sat Jan 30, 2010 4:58 am

aliassmith wrote:
lukx wrote:will my account survive this ? :) Lesson for people who doesn't use sl :) learn on my stupidity :)

ps. do not ask why I didn't use it.

Image


strange, I see your demo account up up and away.

Your real money account, down down and gone.

First off, I tried to trade without a stop loss. In order to pull it off
you need to have more than HOPE. You need to be willing to watch
the market until you make your profit or make your trade flat. This
could end up being a few days and a lot of in and out positions.

I then realized this type of trading doesn't work well for me because
I trade part-time. I then realized I would rather take 14 tries at 3.5%
risk than get margin called at 70% loss.

So I determined the best course of action is raise my risk to 3% equals
20 pips, have a "hard" 20 pip stop loss, naked chart, use multiple orders, 4 hours a day, 5 days a week, and master my zeroline skills. It is a
method I have been most successful using and like MightyOne said 20%
something a month and a few years you will be wealthy.

$1000 @ 24%/month @ 22 trading months is over $100,000 trading
account.

24% a month is 6% a week equals net 40 pips a week

11 more months would be $1,000,000 < basically 3 years and less time
it takes to get a college degree (although I already waisted my time and
money to earned one) :x


Many that go to college end up making between $45,000 and $55,000 a year (wtf right?)

A waitress or cook makes about $35,000 & a bartender that I know makes around $39,000 (we'll leave strippers out of this ;)) and they don't have to pay off school loans...(throw in the cash under the table and their income jumps to $41,000 to $50,000/yr)

Assuming that when you make more you spend more (better restaurants, travel, larger homes, better cars) the educated are not really that far ahead of anyone else if at all.

Your only hope of freedom is to start a business and/or invest.

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lukx
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Postby lukx » Sat Jan 30, 2010 8:40 am

True , True MO. I'm still furious that I didn't know about forex when I was 15 years old. Add 10 years for learning and I would be FREE by now. I spend 17 years learning some useless stuff (graduated Architecture) and now I have to fight with my boss to got paid on time because of the crisis clients doesn't want to pay for projects :(. Life sux! :(

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Postby Fxtraveller » Sat Jan 30, 2010 10:30 am

lukx wrote:True , True MO. I'm still furious that I didn't know about forex when I was 15 years old. Add 10 years for learning and I would be FREE by now. I spend 17 years learning some useless stuff (graduated Architecture) and now I have to fight with my boss to got paid on time because of the crisis clients doesn't want to pay for projects :(. Life sux! :(


Cmon Lux. You are not serious.... Investment should be plan B behind main job/education that is Plan A. only with Plan A stability and security one can (mostly, dont know about MO's life) build up investments so Plan B becomes = Plan A.
And after that maybe Plan B> Plan A.

You cant lose education so you can always come back to a job if investments all fail. But with no education and all investments lost after , say, 10 years of prosperity, you r #$%^& ed.... :shock:

+ im sure purely investing will get boring in time. Taking part in society is necessary. You might become a part-time teacher about architecture earning pennies + earning big with Forex =]]

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lukx
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Postby lukx » Sat Jan 30, 2010 12:01 pm

You're right, but I'm just sad about how much learning time I lost not knowing about forex and when you take into account how much time you need to spent trading to finally be prosperous is just depressing.

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Postby Fxtraveller » Sat Jan 30, 2010 12:22 pm

you've probably seen how many struggling traders are aged 40+, so we are by far not the worst cases :wink:

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MightyOne
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Postby MightyOne » Sat Jan 30, 2010 12:36 pm

Fxtraveller wrote:you've probably seen how many struggling traders are aged 40+, so we are by far not the worst cases :wink:


You know there is a problem when you are not retired by age 30 :wink:

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IN-XS
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Postby IN-XS » Sat Jan 30, 2010 12:37 pm

Yeah lukx, you just turned 30, stop giving yourself such a hard time and with the current market climate I think most of us are struggling. I thought exactly the same, but instead of thinking about the time you have lost , think about waht you can now make of your time, DRAINING BANKS! LOL!

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lukx
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Postby lukx » Sat Jan 30, 2010 1:16 pm

IN-XS, I was thinking how was forex let's say 3 years ago? If you knew all zl, mz stuff etc. would it be easier to drain'em then than today?

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Postby johny » Sat Jan 30, 2010 1:36 pm

lukx wrote:You're right, but I'm just sad about how much learning time I lost not knowing about forex and when you take into account how much time you need to spent trading to finally be prosperous is just depressing.


Cheer up lux.. You are doing great.

http://www.youtube.com/watch?v=jEca0ZnzOKw

Johny

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tmanbone
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Postby tmanbone » Sat Jan 30, 2010 2:03 pm

Cut, learn and move on, will get you there Luke. it's all in the way you look at it. Don't forget to study your physcology.
"The simplicity of the markets is it's greatest disguise"

T

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