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

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MightyOne
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Postby MightyOne » Tue May 11, 2010 7:59 am

dragon33 wrote:I was out to soon on the ej but need to go to physio and holding when i'm not around is not my thing yet.

Mo this trade is above 10% i'm way up lol but i think you knew that

Image



Now how do you get other people to believe in the "impossible"

Very nice trading dragon33

I increased my lot size by 1 to 1 out of jealousy ;)

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FXfreak
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Postby FXfreak » Tue May 11, 2010 8:00 am

MO, the H1-chart of the pound shows an area of no-momo. is this what you describe as price-reaching?

how can i use this information of having a no-momo-area for my trading? is there any special move of the market that normally will follow? or do i have to wait for momo and trade in momo-direction as usual?

i tried to use the search but i couldn't find a general post about equilibrium- and no-momo-areas...

THANKS!

Image
Last edited by FXfreak on Tue May 11, 2010 8:15 am, edited 1 time in total.

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lukx
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Postby lukx » Tue May 11, 2010 8:09 am

MightyOne wrote:
lukx wrote:+ or - :) i'm doing it easy but -10% an hour :)



When you focus on the money that is when you lose it.

If you take a trade and you fear taking a loss then you have already lost before you even started.

Repeat after me:

I do not care about money

I do not need it

I do not imagine what I can buy with it

I do not imagine how it can change my life

It is worth less than a used coloring book...to everyone.


The second problem is believing that you should lose.

A friend of mine would say,"If I believed that I would lose then I would not have placed the trade."

You can push buttons all you want but that does not mean that you believe in yourself and the reasons for placing the trade.

What do you think this trade is going to bring you? Based on what exactly?

How many times has your account been up by 50% and you say something like "I can't believe that I am making money" and low and behold you start losing it all back again.

Repeat after me:

I can win, I should win, I am making it happen right now.

Holy s**t I am winning! Of course I am...why wouldn't I.


Notice that the "repeat after me" is positive reinforcement.

If you do not believe then you cannot achieve.

I know it sounds hokey, but what comes out of your mouth and what you tell your self directly impacts your success.

Success is not about chart patterns, it is about your psychology and the application of what is true.


It's hard to change this mental behavior when you are 30 :)
You Americans are raised differently , parents are telling you since you're little "you're grate, you're awesome, fantastic" so I guess it's easier in forex for you USA guys:)

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MightyOne
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Postby MightyOne » Tue May 11, 2010 8:17 am

FXfreak wrote:MO, the H1-chart of the pound shows an area of no-momo for the last night. is this what you describe as price-reaching?

how can i use this information of having a no-momo-area for my trading? is there any special move of the market that normally will follow? or do i have to wait for momo and trade in momo-direction as usual?

i tried to use the search but i couldn't find a general post about equilibrium- and no-momo-areas...

THANKS!

Image



Price reaching is more multiple periods of X with fewer periods of Y.

In a momentum pattern (XYXY) the X "stalls" the trend to get traders to liquidate or reverse so the trend can continue short.

Multiple CC color moving in one direction is a trend which is broken with multiple CC going the other way.

The CC Rat Trade is similar to a trend line break.

Back to the momentum pattern...
when it breaks it is usually a sign that the move is over.


Image

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MightyOne
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Postby MightyOne » Tue May 11, 2010 8:45 am

lukx wrote:
MightyOne wrote:
lukx wrote:+ or - :) i'm doing it easy but -10% an hour :)



When you focus on the money that is when you lose it.

If you take a trade and you fear taking a loss then you have already lost before you even started.

Repeat after me:

I do not care about money

I do not need it

I do not imagine what I can buy with it

I do not imagine how it can change my life

It is worth less than a used coloring book...to everyone.


The second problem is believing that you should lose.

A friend of mine would say,"If I believed that I would lose then I would not have placed the trade."

You can push buttons all you want but that does not mean that you believe in yourself and the reasons for placing the trade.

What do you think this trade is going to bring you? Based on what exactly?

How many times has your account been up by 50% and you say something like "I can't believe that I am making money" and low and behold you start losing it all back again.

Repeat after me:

I can win, I should win, I am making it happen right now.

Holy s**t I am winning! Of course I am...why wouldn't I.


Notice that the "repeat after me" is positive reinforcement.

If you do not believe then you cannot achieve.

I know it sounds hokey, but what comes out of your mouth and what you tell your self directly impacts your success.

Success is not about chart patterns, it is about your psychology and the application of what is true.


It's hard to change this mental behavior when you are 30 :)
You Americans are raised differently , parents are telling you since you're little "you're grate, you're awesome, fantastic" so I guess it's easier in forex for you USA guys:)


Don't even get me started...

I have so much internalized pain you would believe you grew up in Disneyland.

I do not care about anything and half the time I wonder why I even continue as everything seems so meaningless.

All I really have is this black book from a people long ago who promise life and life more abundantly.

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poipen
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Postby poipen » Tue May 11, 2010 8:48 am

sheesh... had a good day yesterday and tonight i find myself taking trades that arent even there. Just proves i have yet to master my own head.
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bredin
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Postby bredin » Tue May 11, 2010 8:48 am

MightyOne wrote:Quick show of hands

Who does not make at least 10% per week?


Oh, you said NOT MAKE :lol:

I made that yesterday. Mabee I should take the rest of the week off...

G.
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MightyOne
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Postby MightyOne » Tue May 11, 2010 8:55 am

bredin wrote:
MightyOne wrote:Quick show of hands

Who does not make at least 10% per week?


Oh, you said NOT MAKE :lol:

I made that yesterday. Mabee I should take the rest of the week off...

G.


I only ask because, at 10 to 1 leverage, we are only talking about 100 pips.

On most (major) pairs price moves over a hundred pips PER DAY!

Assuming 500 pips in range (not even up/down movement) I cannot understand why it is so unbelievable to make 10% per week or even tens of %.

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MightyOne
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Postby MightyOne » Tue May 11, 2010 9:02 am

poipen wrote:sheesh... had a good day yesterday and tonight i find myself taking trades that arent even there. Just proves i have yet to master my own head.


Even if you are a scalper you should ask what the long term potential of your trade is.

Look at TRO's Rat Trade...
It really doesn't matter that he takes 5+ pips.

If price spiked 28 pips he could, at his discretion, hold for a greater number of pips because he traded off of long term extremes.

His trades have long term potential and that is all that matters.

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Postby bacoazul » Tue May 11, 2010 9:07 am

Hey guys any of you know any good
mt4 tester were you can test multiple
TF's at same time??
These are my principles. If you don't like them, I have others.

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