NFP,
0.26 cents profit.
Good advices.
ProchargedMopar's Trading Trilogy
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- prochargedmopar
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#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
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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Lovely.
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
I love this one: IF YOU START HOPING JUST CLOSE IT!
So simple and this is what makes the small but important difference. Cut the losses short.
So simple and this is what makes the small but important difference. Cut the losses short.
es/pip wrote:aliassmith wrote:es/pip wrote:prochargedmopar wrote:es/pip wrote:prochargedmopar wrote:yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.
Went on TILT,
-20% of account.
ugggggghhhhhhhhhhhhhhhh
Al
1. did you average down?
2. what % risk are you trading at?---- per trade
alias,
When it comes to money, believe me, I've done all the calculations.
hehehe
es/pip,
YES.
I risk (supposedly) 3.25% per trade, I've been having difficulty this cycle trying to use full pip value so usually much less. Stop is at 7+spread.
I have a very bad habit of doubling almost instantly and grabbing 4-5 pips and then bailing at b/e of last 2 combined trades. Trading the account balance instead of chart.
It bit me today as I ventured up to $15 pips showing $600 balance.
I was short e/j at +22 just before news, I decided to close out with 20% loss instead of risking 60% on news spike. If not for news there was nothing on the chart telling me to exit until my target of 50+ pips.
I still live to trade another day. At full pip value it's ONLY 75 pips. I'll make it hard on myself and drop back to $1 pips for a while.
Plan out window atm, maybe I should re-start first cycle again.
Not sure what to do.
I'm going to an Online trading academy event with sam seiden next week. Suppose to teach equity/risk management.
I'm also going to a 3 day workshop with Chris Lori of forex mentor in NC next month.
Also signed up for the Pro traders club market reviews and attending a free webinar next week also.
We'll see.
yeah i noticed in some of your screen shots that the executions were 1k 1k 3k then all of a sudden 30k 50k--- figured thats what you were doing
it always works great till it doesn't that 1 time.
the RULE OF ALL RULES of trading is to never average into a loser----ever
there are only 3 ways to stop doing it
1. blow up enough accounts and be out of the game
2. lose enough money that you finally stop doing it
3. accept your loss and move on to the next trade
as far as all the seminars
well
it all comes down to you vrs yourself-----
you may pick up a couple little things from "teachers"---
but i wouldn't pay anyone any money to "teach" you anything
its PRO vrs PRO at this point
"it always works great till it doesn't that 1 time"
Actually I did an experiment on this type of trading. Average loser and double up on loser, without taking stops.
It works well until the one time you get a margin call.
BTW Pro, my comments were more for someone that still needs to
control emotions while tradinging, not a math lesson.
Lower risk with still a realistic expectation can reduce emotional stress
as you have seen from your own experience.
Watching 1 million videos will not fix that, only you can make that change.
Make that hand written trading log and evaluate my you do the things you
do.
yeah i learned by blowing out a couple of accounts
finally was able to accept a loss
now if it is not going my way i WANT out of it as quick as i can be out of it
never HOPE for something to happen
if you start hoping just close it
Lose professionally!
- prochargedmopar
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#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- aliassmith
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psychological experiment: NOT directed at anyone, ONLY an idea
When you get a few pips in profit then you start having crazy ideas.
Maybe I should take the profit now.
Maybe I will missout on the move I'll stay in.
When you start getting negative pips you start having crazy thoughts.
Maybe it will come back.
It went back so far I'll just let my stoploss take me out.
I'll move my stoploss to give it more room.
My experiment is to teach myself to think the opposite way.
When I am a little in profit I will think I am lossing and let my losses run.
Until the pain of the loss get to be too much.
When I am a little negative I'll close the order believing I am taking a
small gain. The relief of getting out with a win.
Seems like most people fail at trading because of some common
psychological beliefs. I think and do experiments to test these concepts.
When you get a few pips in profit then you start having crazy ideas.
Maybe I should take the profit now.
Maybe I will missout on the move I'll stay in.
When you start getting negative pips you start having crazy thoughts.
Maybe it will come back.
It went back so far I'll just let my stoploss take me out.
I'll move my stoploss to give it more room.
My experiment is to teach myself to think the opposite way.
When I am a little in profit I will think I am lossing and let my losses run.
Until the pain of the loss get to be too much.
When I am a little negative I'll close the order believing I am taking a
small gain. The relief of getting out with a win.
Seems like most people fail at trading because of some common
psychological beliefs. I think and do experiments to test these concepts.
Trade Your Way as Long as It Makes Money!
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- Patch
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aliassmith
Great post on the psyche of trading. This is why I think trading is 90% or more psyche and 10% whatever else.
Hey have you ever been paper trading and get the same thoughts and feelings? I guess I've had it bad. The more I watch, the better I get as I come to know and trust my strategy and system.
Please keep posting your thoughts, questions and additional experiments.
This is also a reason I gravitate to autotrading.
Patch
Great post on the psyche of trading. This is why I think trading is 90% or more psyche and 10% whatever else.
Hey have you ever been paper trading and get the same thoughts and feelings? I guess I've had it bad. The more I watch, the better I get as I come to know and trust my strategy and system.
Please keep posting your thoughts, questions and additional experiments.
This is also a reason I gravitate to autotrading.
Patch
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
- aliassmith
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Patch wrote:aliassmith
Great post on the psyche of trading. This is why I think trading is 90% or more psyche and 10% whatever else.
Hey have you ever been paper trading and get the same thoughts and feelings? I guess I've had it bad. The more I watch, the better I get as I come to know and trust my strategy and system.
Please keep posting your thoughts, questions and additional experiments.
This is also a reason I gravitate to autotrading.
Patch
"This is also a reason I gravitate to autotrading"
I think auto trading can work if the programming is really good, and it
does keep the human emotions out of the way if you can resist not
watching it and jumping in.
Experiment Update:
I was working my little experiment with scalping M1/M5 trading. When
I was in profit I refused to take the small stuff because I kept telling
myself it was a loss.
On the flip side I made my SL so small that it mimics when there is a small
profit and the feeling to close comes along. It forces me to make better
entries also.
Trade Your Way as Long as It Makes Money!
- prochargedmopar
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no trades, just watched.
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
- aliassmith
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aliassmith wrote:Patch wrote:aliassmith
Great post on the psyche of trading. This is why I think trading is 90% or more psyche and 10% whatever else.
Hey have you ever been paper trading and get the same thoughts and feelings? I guess I've had it bad. The more I watch, the better I get as I come to know and trust my strategy and system.
Please keep posting your thoughts, questions and additional experiments.
This is also a reason I gravitate to autotrading.
Patch
"This is also a reason I gravitate to autotrading"
I think auto trading can work if the programming is really good, and it
does keep the human emotions out of the way if you can resist not
watching it and jumping in.
Experiment Update:
I was working my little experiment with scalping M1/M5 trading. When
I was in profit I refused to take the small stuff because I kept telling
myself it was a loss.
On the flip side I made my SL so small that it mimics when there is a small
profit and the feeling to close comes along. It forces me to make better
entries also.
I am moving my Psychology discussion/log to
http://kreslik.com/forums/viewtopic.php?p=35721#35721
I don't want to clutter other people's threads.
Trade Your Way as Long as It Makes Money!
- prochargedmopar
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couple trade examples:
#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
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670
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