Never Lose Again

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Patch
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Face your fears

Postby Patch » Sat Jul 11, 2009 11:29 am

prochargedmopar

Quote:
Face your fears, They are the only thing that's holding you back.

I'll make a killing with it when I decide to hold trades....gonna work on moving up stops to b/e so I can let trades run.....then move it up to the most recent low/high each time it makes a new level......Maybe this will take away my fear of being stopped out for a loss after being in profit....
We'll see sunday.
EndQuote

I am encouraged everytime I read your "Face your fears, they are the only thing that is holding you back" and I have it printed big on 8.5 x 11 over my monitor, and am looking forward to your report on Sunday. I don't know much about all this right now, been reading a lot every morning and night. For one trade, your trading plan is to set your lot size to 10% of what your normally trade, open the trade on a candle when it closes and has a Semi above or below it, and close the trade only on the close of the next candle that has a Semi opposite the open Semi. You might want to do this on a M1 for a faster conclusion.

It is discipline, and trusting your method, system and trading rules that comes and grows with more experiences with same. Little steps. I love FX-JETTI's statement yesterday saying it has taken him 5 years of struggle. Little steps. Your discipline is growing a bit with each action you trade, each day.

My son arrived in safely in Houston two days ago with his wife and 16 month son. Is Houston near you?

Thank you for all your help, Patch
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prochargedmopar
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Postby prochargedmopar » Sat Jul 11, 2009 11:37 am

Fxtraveler,
My understanding would be.....lets say price is moving down....what would you do if you were holding 20,50,80, or 110 pips profit??

Yup, you would close the order(BUY to cover).
this drives price to the Z-line or Mightyzone as sellers take profits....when price starts to move up a little it turns into a feeding frenzy. When trailing stops are hit (buy to cover) or when solid stops are hit. (same thing happens to price) up, up, up... Well, at some point all traders are zeroed out and this opens the door for more sellers to take price it's original direction. Either those sitting on the side lnes or the big boys that want it to go down, or even those that took profit adn want to get back in on the action.....

Just my way of seeing held profit being given back to the market.
cheers.
pro

Also, all those people that bought at support(congatulations) they are back to break even and start closing their orders (selling to close)telling themselves I'll never do that again.....this starts price moving down again and one of the main reasons previous support(where price broke out from) becomes resistance.....NOt to mention everybody on the planet basically can see the same HORIZONTAL sup/res zones.......

Anyone see this differently??? I'd like to hear other sides to the story.
#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 ***FX-JEDI*** » Sat Jul 11, 2009 11:56 am

Patch wrote:FX-JEDI

Thank you for hanging in there and for putting up you posts.

I count 47 trades!

Was it worth the struggle and hanging in there? Patch


Hi Patch,
Thanks mate, there was a few more trades on the list but I couldn't fit it on screen shot, I'm on my laptop at the moment so I can't tell you exactly how many trades I have done, its around 58 or so with that one loss, Dragon has inspired me when I read his post on baby pips I think he had like 70+ trades with like only 3 losses from memory, but don't quote me on that. I also read either on baby pips on never lose again thread or here can't remember now that you should try & get 1000 pips in 200 trades before going live, so I set myself the challenge to do that before I go live again.

Its being a long road learning to trade, I'm loving it now, its fun now, I've still got a long way to go, but its looking good, the goal is to do it full time, at the moment I don't get to much time to trade, but that will be changing soon...there was a few times that I nearly gave up, it was taking up a lot of my time, & trying to balance it with family is hard. its so addictive...lol

was it worth it, yeah I think so, the future is looking good, if I can keep this sort of trading up. :D

I have saved a template of my 5min chart, hopefully attachment works.
by the way I have a 4 monitor setup on my trading computer, so I can view the Daily - 1hr - 30min - & 5min simultaneously :) occasionally looking at the 4hr & 15min time frames as well..

Cheers ***FX-JEDI***
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Postby Patch » Sat Jul 11, 2009 11:56 am

prochargdmopar

I'm convinced the FX trading was opened up for the retail traders to be fresh fish for the slaughter.

The question we don't know the answer to is, is it a retracement or a reversal? I will keep reading and chart watching, demo trading and continue the discussion. What time frame(s) do you make you buy and sell decisions from? jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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Postby prochargedmopar » Sat Jul 11, 2009 11:57 am

Patch,
I'm just west of FT.Worth.
About 3.5hrs from Houston.

It's good that I can help motivate others, even if it were just one....
I think that each success we see helps us to believe we to can have the same success. (or more).

Trading 3 to 3 (or sema to sema)? At this point I'll be happy to just hold the trades for 2 more M1 candles once positive pips....LOL
Imagine the profit!! hehehe
#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 » Sat Jul 11, 2009 12:17 pm

Patch wrote:prochargdmopar

I'm convinced the FX trading was opened up for the retail traders to be fresh fish for the slaughter.

The question we don't know the answer to is, is it a retracement or a reversal? I will keep reading and chart watching, demo trading and continue the discussion. What time frame(s) do you make you buy and sell decisions from? jb


Whoa doggies,

I'm a noob, I have not been consistently successful just yet.....I'm knocking the door down as we speak though. LOL

I have read that H4 is GOD for day traders......
So I'll glance at the daily's....Then the H4's and then on down...

Most times I start with the M1 chart and work my way up, M5/M15/H1 and then H4......Then work my way back down...

I've been trading the M1 chart but really need to go to the M5 this week. At least set my profit targets with M5 and not back down even if Im watching the price action on the M1 chart.

MightyOne says something like....."The largest correction that does not return to the extreme is not a correction".....meaning it's now going the other way for a bit...depending on the time frame you are watching.

His crystal ball.......along with blubbb's new custom candle indicator.
#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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Patch
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Postby Patch » Sat Jul 11, 2009 12:21 pm

prochargedmopar

I've been looking at the 3 to 3 also on the M1 and M5 GBPUSD and thinking your thoughts. I'm setting up a few charts this weekend. Can't wait for Sunday afternoon also. We have dear friends in El Paso, and I look forward to going to Joel Osteens church when we visit our son in Houston. How's the temp and humidity for you?


FX_JEDI

Thanks for posting the template, I know what you mean about family, that's why I get up early when I do most of my study time, as my wife wants me to head for bed when she does. Multi monitors is awesome, I've got 2 and am spoiled, can't hardly work on one anymore.

Talk about helping one another. I am sure everyone reading the posts by the guy saying he can't trade, we all see ourselves in his current experience, and our hearts go out to him. I stopped live trading when I just decided if I couldn't make money demo trading, I certainly wouldn't make it with real dollars on the line. I noticed even demo trading, I didn't like loosing demo dollars on the retraces procharged!!!

And I really enjoy the people on this site and get some good laughts to lighten things up, along with inspirations. thanks all, jb
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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Postby prochargedmopar » Sat Jul 11, 2009 12:28 pm

Two long entries held over the weekend.

A big drop.
Held profit.
Traders giving it back.
+90 on one.
+77 on the other.
Hmmmmmm

Image
#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 ***FX-JEDI*** » Sat Jul 11, 2009 12:40 pm

prochargedmopar wrote:Two long entries held over the weekend.

A big drop.
Held profit.
Traders giving it back.
+90 on one.
+77 on the other.
Hmmmmmm

Image


Nice work Pro, just look at them 2 bullish Hammers, forming tweezer bottom on the HR gotta love candle patterns, right on whole number, definite a green light to go long.. from one whole number to the next, gotta love them whole number bounces.. :wink:

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Postby razorboy » Sat Jul 11, 2009 12:52 pm

facing your fears and all that stuff is great.................

but how many of you know your numbers - success rate - payoff ratio etc...............
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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