Never Lose Again

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prochargedmopar
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Postby prochargedmopar » Sun Jul 26, 2009 6:18 pm

MightyOne wrote:
Patch wrote:Welcome Tristalibur

You observe then ask, "Now what gets me confused is :why are there over a hundred systems(automatic or not)?
And when there is a good system,why do people always change??"

TRO might say people like to complicate things, someone else, someone has another idea, to make it a little bit better. MO says don't get stuck on a system and stop thinking and growing. I think people are people, not always logical or rational.

Get well fast. While using this time to learn and grow your trading muscles.

Patch
In VA


Good post Patch ;)

Trading is like a poker game where one side comes to the table with solid mathematics and the other side comes to the table with solid mathematics and the ability to adapt to the tendencies of the other players.

It is pretty clear that the poker players that are armed solely with mathematics (a system) are going to be on the losing end of the stick.

They may make money if someone weaker sits down at the table, but they damn sure are not going to beat the professional without lady luck.


Even if a trader has solid price action analysis and is wildly profitable on his entries he could still not make it to $100,000 or even a $1,000,000 for purely psychological reasons.

What does money mean to you?

If you scraped together $400 from skipping 2 meals a day for 2 months and you grew your account to $1,200 you may be fearful because $1,200 is a lot of money to you.

It is often the case that a person will trade really well with a small amount and then trade poorly with a larger amount until he reaches his initial account balance.

If $1,200 was not enough to shake the trader then what about $26,000 or $43,000?
The affects of losing are magnified by the value (to you) of the money at risk.

Do you have what it takes to look at $100,000 and say that it would not bother you one bit if you lost it all?

But that is what it takes to reach a million dollars:

ZERO EMOTIONAL ATTACHMENT :shock:


Ahhhh, yes.
Well said.
#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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prochargedmopar
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Postby prochargedmopar » Sun Jul 26, 2009 7:00 pm

Blubbb_custom_candle is so cool.

H1/H2
Image

H1/H3
Image

H1/H6
Image

And what is the coolest is when you want to switch time frames you can just drag the line on top of the other for a "no indy" condition. Use that for inspecting the smaller time frames during entry or........

D1
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 zapzinig » Sun Jul 26, 2009 7:37 pm

MightyOne wrote:
monolisa wrote:Way to go, MO! Hehehe...

Wouldn't you (be) mindful of how TRO feels when you delete his indis?

Lis


I have all the donation indicators saved online.

If I don't use something in 3 months I will throw it away even if it is a toaster.

If I know that I am not going to use some thing anytime soon then it automatically gets thrown away.


If you clean out your unused indicators MT4 runs much better.

--zz

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Postby zapzinig » Sun Jul 26, 2009 8:37 pm

Never Lose Again Thread Archive Available:

Here is a link to the Never Lose Again thread archive. It is a 115mb zip file.

There is an index.htm file that has links to pages 1 thru 499 (almost 5,000 posts in all).

Reading this thread offline is much faster and will make it easier for you to jump to a specific page.

http://rapidshare.com/files/260352574/N ... n.zip.html

Enjoy!

-ZZ

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prochargedmopar
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Postby prochargedmopar » Sun Jul 26, 2009 8:44 pm

zap,
tell me about it.

TRO,
Could you "modify" blubbb_custom_candle so that it would be possible to use with a candle color multi-meter......??
Selectable candle time frames of course.
What about a donational dashboard/multi-pair version?
#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 PTG » Sun Jul 26, 2009 8:47 pm

That is actually very nice and helpful indeed !! Thanks very much. I'm reading the thread on a very regular basis and this will save me time which is about the only thing I cannot replenish ](*,)

Furthermore I'd like to congratulate all of the contributors to this thread, be it small or large, with reaching this 500 page milestone :smt030 =D>
I applaud you all. If quality is proportional to quantity as it has been so far, then I do hope the next milestone of -say- 1000 pages will come sooner rather than later :smt026
This is my new signature: "new signature".

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Postby prochargedmopar » Sun Jul 26, 2009 9:11 pm

Thanks for that....Excellent.

Not sure who posted this pic but I think it shoulr be revisited.
Very informative.

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 MightyOne » Mon Jul 27, 2009 12:21 am

prochargedmopar wrote:Blubbb_custom_candle is so cool.

H1/H2
Image

H1/H3
Image

H1/H6
Image

And what is the coolest is when you want to switch time frames you can just drag the line on top of the other for a "no indy" condition. Use that for inspecting the smaller time frames during entry or........

D1
Image


In my opinion it is more easy on the eyes to use a bar chart with blubbb's custom candle indi. and then switch to candles when you want to observe the base time frame.

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Postby es/pip » Mon Jul 27, 2009 12:54 am

MightyOne wrote:
Patch wrote:Welcome Tristalibur

You observe then ask, "Now what gets me confused is :why are there over a hundred systems(automatic or not)?
And when there is a good system,why do people always change??"

TRO might say people like to complicate things, someone else, someone has another idea, to make it a little bit better. MO says don't get stuck on a system and stop thinking and growing. I think people are people, not always logical or rational.

Get well fast. While using this time to learn and grow your trading muscles.

Patch
In VA


Good post Patch ;)

Trading is like a poker game where one side comes to the table with solid mathematics and the other side comes to the table with solid mathematics and the ability to adapt to the tendencies of the other players.

It is pretty clear that the poker players that are armed solely with mathematics (a system) are going to be on the losing end of the stick.

They may make money if someone weaker sits down at the table, but they damn sure are not going to beat the professional without lady luck.


Even if a trader has solid price action analysis and is wildly profitable on his entries he could still not make it to $100,000 or even a $1,000,000 for purely psychological reasons.

What does money mean to you?

If you scraped together $400 from skipping 2 meals a day for 2 months and you grew your account to $1,200 you may be fearful because $1,200 is a lot of money to you.

It is often the case that a person will trade really well with a small amount and then trade poorly with a larger amount until he reaches his initial account balance.

If $1,200 was not enough to shake the trader then what about $26,000 or $43,000?
The affects of losing are magnified by the value (to you) of the money at risk.

Do you have what it takes to look at $100,000 and say that it would not bother you one bit if you lost it all?

But that is what it takes to reach a million dollars:

ZERO EMOTIONAL ATTACHMENT :shock:



great post

100% exact

the mind is a very powerful thing. It can help you and it can also get in the way and hurt. You have to retrain your mind, making it believe that money has no value--- in a way.


you have to believe that the money in your account has no monetary value at all-----it is just a number.

its not easy to do----but u can do it

emotions kill traders

emotions are the enemy

this goes right along with what i have said before about having a daily target of pips or %------- this creates unneeded and additional emotions.

i have no per day, per week, per month goals. I know what i would like to be able to avg per week/month over time, but i do not trade towards or away from it. I just trade what i see



trade the chart don't trade a goal

the market could give two poops what your goals are
:D

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prochargedmopar
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Postby prochargedmopar » Mon Jul 27, 2009 1:08 am

MightyOne wrote:
prochargedmopar wrote:Blubbb_custom_candle is so cool.

H1/H2
Image

H1/H3
Image

H1/H6
Image

And what is the coolest is when you want to switch time frames you can just drag the line on top of the other for a "no indy" condition. Use that for inspecting the smaller time frames during entry or........

D1
Image


In my opinion it is more easy on the eyes to use a bar chart with blubbb's custom candle indi. and then switch to candles when you want to observe the base time frame.


Good tip M.O.
Or could even use this to minimize distractions after time frame is set:
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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Thank you for your support.


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