ProchargedMopar's Trading Trilogy

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Patch
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Postby Patch » Fri Aug 21, 2009 2:51 pm

prochargedmopar wrote:BTW,
+92 demo trading today
7 trades with 1-14 pip loss.

So much easier just to watch without no concerns what so ever.

Hmmmmmm


PRO

Please explain the change in your trading demeanor today?

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

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Postby prochargedmopar » Sat Aug 22, 2009 1:26 am

Patch,

It was demo trades I took after getting my daily 20 pips with 5% risk per trade.

I took some 10cent pip trades to which is where the higher daily total came from on live account.

It just is not the same for me to trade demo or 10 cent pips yet.

I put huge amounts of pressure on myself to be "right" when it is with the micro account.
That makes me LOSE, or at least gain very little.

It's a psychological from here on out......Did you read the post by monalisa??

Pro
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My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby es/pip » Sat Aug 22, 2009 2:31 am

prochargedmopar wrote:Patch,

It was demo trades I took after getting my daily 20 pips with 5% risk per trade.

I took some 10cent pip trades to which is where the higher daily total came from on live account.

It just is not the same for me to trade demo or 10 cent pips yet.

I put huge amounts of pressure on myself to be "right" when it is with the micro account.
That makes me LOSE, or at least gain very little.

It's a psychological from here on out......Did you read the post by monalisa??

Pro


its funny---- from the posts i read from you months ago to the posts and charts you post now i can see you growing as a trader

now u need to control emotions----as u have acknowledged

you say----I put huge amounts of pressure on myself to be "right" when it is with the micro account.
That makes me LOSE, or at least gain very little.

i say----

what happens if you are wrong on a trade?

What is the overall result of losing that trade?

What does this actually mean in the grand scheme of things?



what you have to do is----- know what you are going to do before it happens. Then as long as you did what you were supposed to do then nothing else matters.

if you do not have a plan for each situation that you invision happening and know what you are going to do in each situation, then you are trading off of emotions.

When you trade off of emotions and dont have an exact plan then all hell breaks loose in your mind. I should have done this. Man, only if i would have done that. If only i would have stayed in that trade. etc etc etc

i am not saying that you set a target and a stop and then what ever happens happens.

what i am saying is-------- just know what you are going to do if this happens or that happens and do it.

think ahead and know what u will do in each situation. the other day i posted in the nla thread that i was long on the h1 or h4 chart--cant remember-- and i was up 60 pips with a 170 pip target. I liked the way the h1 bars were forming so i stayed in, the market tanked taking me out out be. It would be natural to get all emotional about giving back 60 pips--- but i had a plan and i did what i planned, so i had no emotions about it at all. Had the bars not formed the way i liked and i decided to stay in based on hope and got taken out at be, then i would have had emotions about it.

as a result of doing the above then you are no longer right or wrong. You have 1 task to do correctly each day and that is to follow your plan. As long as you do your job of completing your task each day, in the end that is all that you can do. And this takes the right and wrong out of the picture.

It is natural human nature to be afraid of failure/losing---- u just have to train your mind to overcome it
Bend over and assume the position for another 4 years of hope and change.

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Postby prochargedmopar » Sat Aug 22, 2009 4:47 am

es/pip wrote:
prochargedmopar wrote:Patch,

It was demo trades I took after getting my daily 20 pips with 5% risk per trade.

I took some 10cent pip trades to which is where the higher daily total came from on live account.

It just is not the same for me to trade demo or 10 cent pips yet.

I put huge amounts of pressure on myself to be "right" when it is with the micro account.
That makes me LOSE, or at least gain very little.

It's a psychological from here on out......Did you read the post by monalisa??

Pro


You have 1 task to do correctly each day and that is to follow your plan.


"You have 1 task to do correctly each day and that is to follow your plan."

And each trade, each entry, each exit is a little bit different depending on the information the market is giving at any moment in time.
The market should tell me when to enter, the market should tell me when to exit........not fear, not greed.

For instance, if your up 60 pips long and a smaller time frame makes a lower low, then a lower high, exit with profit. You can always re-enter at a better or equal price if main direction takes hold.

Now, if the market just tanks in one wave I can see you clicking out at b/e

So your correct, general guidlines YES, set and forget, NO.
Accept the "hard stop" fully and the fear disappears. I know it but I don't "KNOW" it yet.
Being wrong may be a part of the equation too but I have not taken the time to study my emotions while in trades because I have been so caught up in the technical aspects of the game.
I'm getting to the point to where I realize there is nothing left to learn that would make me more successful until I get my psychological act together.

Then we go to the diamond of perception phase.
LOL

:smt033
Last edited by prochargedmopar on Sat Aug 22, 2009 5:08 am, edited 1 time in total.
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby Patch » Sat Aug 22, 2009 4:50 am

es/pip

And this my friend es is the heart of the matter: emotions and the control there of. Do you have what you are supposed to do, your game plan, written down? If so es/pip would you post it?

A few years ago when I started demo trading, as I had lost enough USDs, I would get all excited about seeing demo dollars growing, then all upset as they were wiped away. Emotionally, it didn't matter to me that they were monopoly money, it was cash being wiped out none the less to me.

I am seeing myself and my mistakes in others through their posts. Trading with way too much money, often real money on the line, and to high of % risk. Simple trade system with simple rules lead to peace of mind and little if any room for interpretations, the light is either red or green. --Thanks-Patch

es Thanks for your post above on this most critical area.
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 es/pip » Sat Aug 22, 2009 5:17 am

responding to both above

i dont have a "plan" in the sense of something on paper---as pro noted-- each trade is different----

i think ahead of what other traders are going to do----- then i commit to what i am going to do based on the different things that may happen in the future and then i trade that plan
Bend over and assume the position for another 4 years of hope and change.

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Postby prochargedmopar » Sat Aug 22, 2009 10:25 pm

es/pip wrote:responding to both above

i dont have a "plan" in the sense of something on paper---as pro noted-- each trade is different----

i think ahead of what other traders are going to do----- then i commit to what i am going to do based on the different things that may happen in the future and then i trade that plan


hehehe
es/pip,
You must be near and dear to the heart of the MightyOne.
Truly Discretionary.

I like that.
:twisted:
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Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby MightyOne » Sun Aug 23, 2009 1:13 am

es/pip wrote:responding to both above

i dont have a "plan" in the sense of something on paper---as pro noted-- each trade is different----

i think ahead of what other traders are going to do----- then i commit to what i am going to do based on the different things that may happen in the future and then i trade that plan


What es/pip said...

The key word is COMMIT :shock:... assuming that you plan in the first place.

Forget about the money and your doubts and ask your self what you are going to do when the EJ falls between 120.00 & 113.50 for example.

All trading really comes down to is support and resistance after momentum (movement vs consolidation) where S&R is a zone rather than a particular price.

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Postby monolisa » Sun Aug 23, 2009 9:44 am

Intelligent and wise words, es and MO.

You need a plan to do anything, especially trading. It could be brief or detail but you must have one next to you when you trade.

es is right. You should know exactly what to do while you trade. At no time you say to yourself "I don't know what to do here".

When you know the plan by heart and can execute the plan flawlessly then you can be discretionary. Your focus is on the plan, not profit and loss (they are secondary). If you think about money you are prone to emotional ups and downs.

Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu

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Postby prochargedmopar » Mon Aug 24, 2009 2:05 pm

Wild time during london.
+74.3

I offered up ALL my profit to the market.
I got up like 50ish pips and said ok....I let the market take it all or I profit from the trade.
I was down 45 pips a couple times and then it finally took off. Out with 16 because my time was up. I had to exit.

I was pretty pissed off because I did not take a couple momo's that I should have. Then took some that I shouldn't trying to get into the market "late".

Learn, learn, learn,

M.O.,"you get more accomplished through patience than force"!!!!

EUR/JPY 1 S 135.528 135.524 0.4 0.04 0.00 8/24/2009 04:27 8/24/2009 04:27
EUR/JPY 1 S 135.668 135.539 12.9 1.36 0.00 8/24/2009 03:30 8/24/2009 04:27
EUR/JPY 1 S 135.586 135.550 3.6 0.38 0.00 8/24/2009 03:21 8/24/2009 04:27
EUR/JPY 1 S 135.965 135.700 26.5 2.79 0.00 8/24/2009 02:34 8/24/2009 02:48
EUR/JPY 1 S 135.963 135.725 23.8 2.51 0.00 8/24/2009 02:34 8/24/2009 02:48
EUR/JPY 1 S 135.807 135.726 8.1 0.85 0.00 8/24/2009 02:15 8/24/2009 02:48
EUR/JPY 1 S 136.003 136.009 -0.6 -0.06 0.00 8/24/2009 01:48 8/24/2009 02:32
EUR/JPY 1 S 135.905 135.930 -2.5 -0.26 0.00 8/24/2009 00:22 8/24/2009 00:35
EUR/JPY 1 B 135.867 135.876 0.9 0.09 0.00 8/24/2009 00:12 8/24/2009 00:14
EUR/JPY 1 B 136.000 136.078 7.8 0.82 0.00 8/23/2009 23:35 8/23/2009 23:48
EUR/JPY 1 S 135.968 136.056 -8.8 -0.93 0.00 8/23/2009 23:15 8/23/2009 23:32
EUR/JPY 1 B 135.496 135.518 2.2 0.23 0.00 8/23/2009 19:05 8/23/2009 19:20
12 74.3 7.82 0.00
#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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