ProchargedMopar's Dart Dynasty

[v8power]

Took profit from EJ long from yesterday. Short still open and sold more at 123.30

[v8power]

Hahahaha I love you A/J

[prochargedmopar]

AJ tp hit thanks to the BOE being shut down by hackers...

Black swan? Bahahahahhaa

Screenshot_2016-05-16-20-30-21.png (126.98 KiB) Viewed 2056 times

[v8power]

AJ tp hit thanks to the BOE being shut down by hackers...

Black swan? Bahahahahhaa

Screenshot_2016-05-16-20-30-21.png

Easy 15% gained and still have more left on for the long term. So easy.

[v8power]

Looks like great minds think alike. An excerpt from "come into my trading room" by Dr. Alexander Elder

One late afternoon I accompanied a friend to an AA meeting at a
local YMCA. Suddenly, the meeting gripped me. I felt as if the people
in the room were talking about my trading! All I had to do was substitute
the word loss for the word alcohol.
People at the AA meeting talked about how alcohol controlled their
lives, and my trading in those days was driven by losses—fearing them
and trying to trade my way out. My emotions followed a jagged equity
curve—elation at the highs and cold clammy fear at the lows, with fingers
trembling above the speed dial button.
Back in those days I had a busy psychiatric practice and saw my
share of alcoholics. I began to notice similarities between them and losing
traders. Losers approached markets the way alcoholics walked into
bars. They entered with pleasant expectations, but left with mean
headaches, hangovers, and loss of control. Drinking and trading lure
people across the line from pleasure to self-destructiveness.
Alcoholics and losers live with their eyes closed—both are in the
grip of an addiction. Every alcoholic I saw in my office wanted to argue
about his diagnosis. To avoid wasting time, I used to suggest a simple
test. I’d tell alcoholics to keep on drinking as usual for the next week,
but write down every drink, and bring that record to our next appointment.
Not a single alcoholic could keep that diary for more than a few
days because looking in a mirror reduced the pleasure of impulsive
behavior. Today when I tell losing traders to keep a diary of their
trades, many become annoyed.
Good records are a sign of self-awareness and discipline. Poor or
absent records are a sign of impulsive trading. Show me a trader with
good records, and I’ll show you a good trader.
Alcoholics and losers do not think about the past or the future, and
focus only on the present—the sensation of alcohol pouring down
the gullet or the market pulsing on the screen. An active alcoholic is
in denial; he doesn’t want to know about the depth of his abyss, the
severity of his problem, or the harm he is causing himself and others.
The only thing that can pierce an alcoholic’s denial is the pain of hitting
what AA calls “rock bottom.” It is each individual’s private version
of hell—a life-threatening illness, a rejection by family, a job loss, or
another catastrophic event. The unbearable pain of hitting rock bottom
punctures the alcoholic’s denial and forces him to face a stark choice:
he can self-destruct or turn his life around.
56 THE THREE M’S OF SUCCESSFUL TRADING
AA is a nonprofit voluntary organization whose only purpose is to
help alcoholics stay sober. It doesn’t ask for donations, advertise,
lobby, or take part in any public actions. It has no paid therapists;
members help each other at meetings led by long-term members. AA
has a system of sponsorships whereby older members sponsor and
support newer ones.
An alcoholic who joins AA goes through what is called a 12-Step
program. Each step is a stage of personal growth and recovery. The
method is so effective that people recovering from other addictive
behaviors have begun to use it.
The first step is the most important for traders. It looks easy, but is
extremely hard to take. Many alcoholics can’t take it, drop out of AA,
and go on to destroy their lives. The first step consists of standing up
at a meeting, facing a room full of recovering alcoholics, and admitting
that alcohol is stronger than you. This is hard because if alcohol is
stronger than you, you cannot touch it again. Once you take the first
step, you are committed to a struggle for sobriety.
Alcohol is such a powerful drug that AA recommends planning to
live without it one day at a time. A recovering alcoholic does not plan
to be sober a year or five years from now. He has a simpler goal—go
to bed sober tonight. Eventually those days of sobriety add up to years.
The entire system of AA meetings and sponsorships is geared toward
the goal of sobriety one day at a time.
AA aims to change not only the behavior but the personality in order
to reinforce sobriety. AA members call some people “sober drunks.” It
sounds like a contradiction in terms. If a person is sober, how can he
be a drunk? Sobriety alone is not enough. A person who has not
changed his thinking is just one step away from sliding back into drinking
under stress or out of boredom. An alcoholic has to change his way
of being and feeling to recover from alcoholism.
I never had a problem with alcohol, but my psychiatric experience
had taught me to respect AA for its success with alcoholics. It was not
a popular view. Each patient who went to AA reduced the profession’s
income, but that never bothered me. After my first AA meeting I realized
that if millions of alcoholics could recover by following the program,
then traders could stop losing, regain balance, and become
winners by applying the principles of AA.
How can we translate the lessons of AA into the language of trading?
A losing trader is in denial. His equity is shrinking, but he continues
to jump into trades without analyzing what is going wrong. He keeps
MIND—THE DISCIPLINED TRADER 57
switching between markets the way an alcoholic switches between
whiskey and cheap wine. An amateur whose mind isn’t strong enough
to accept a small loss will eventually take the mother of all losses. A
gaping hole in a trading account hurts self-esteem. A single huge loss
or a series of bad losses smash a trader against his rock bottom. Most
beginners collapse and wash out. The lifetime of an average speculator
is measured in months, not years.
Those who survive fall into two groups. Some return to their old ways,
just like alcoholics crawl into a bar after surviving a bout of delirium.
They toss more money into their accounts and become customers of
vendors who sell magical trading systems. They continue to gamble,
only now their hands shake from anxiety and fear when they try to pull
the trigger.
A minority of traders that hit rock bottom decide to change. Recovery
is a slow and solitary process. Charles Mackay, the author of one of the
best books on crowd psychology, wrote almost two centuries ago that
men go mad in crowds, but come to their senses slowly, and one by one.
I wish we had an organization for recovering traders, the way recovering
alcoholics have AA. We don’t because trading is so competitive.
Members of AA strive for sobriety together, but a meeting of recovering
traders could easily be poisoned by envy and showing off. Markets are
such cutthroat places that we don’t form mutual support groups or
find sponsors. Some opportunists hold themselves out as traders’ coaches,
but most make me shudder at their sharkiness. If we had a traders’ organization,
I’d call it Losers Anonymous (LA). The name is blunt, but
that’s fine. After all, Alcoholics Anonymous does not call itself Drinkers
Anonymous. A harsh name helps traders face their impulsivity and selfsabotage.
Since we do not have LA, you’ll have to walk on the road to
recovery alone. I wrote this book to help you along the way

[v8power]

Haha. Account is up almost 300% in 2 days and I still have trades open. Being consistent and making your wins bigger then your loses (not the other way around) is the real holy grail. Ill let everyone else talk about fancy trade names for things and explain why price did what it did to look cool. Im just gonna be simple and basic. Good night and good luck all.

[prochargedmopar]

It was an easy 6.6 macros on the scalp.
Im still holding this pos. For 60 MPs.

Screenshot_2016-05-16-21-39-19.png (153.34 KiB) Viewed 2039 times

[prochargedmopar]

Haha. Account is up almost 300% in 2 days and I still have trades open. Being consistent and making your wins bigger then your loses (not the other way around) is the real holy grail. Ill let everyone else talk about fancy trade names for things and explain why price did what it did to look cool. Im just gonna be simple and basic. Good night and good luck all.

Ur killin it!!!!

[v8power]

It was an easy 6.6 macros on the scalp.
Im still holding this pos. For 60 MPs.

Screenshot_2016-05-16-21-39-19.png

Macros are to advance for me. But looks like you made about 6% on the scalp? What would the gain be if you hit the 60 MP. How many normal pips in a Macro? Plus you still got Your GU trade open right? Pro is about to make some gains. Keep doing your thing.

[v8power]

Haha. Account is up almost 300% in 2 days and I still have trades open. Being consistent and making your wins bigger then your loses (not the other way around) is the real holy grail. Ill let everyone else talk about fancy trade names for things and explain why price did what it did to look cool. Im just gonna be simple and basic. Good night and good luck all.

Ur killin it!!!!

Its hard not to when price is moving hundred of pips. Crash zone is still 200 pips away. If price keeps moving like this I will add a zero to my account by the end of the week easily. Good MM and OPM is all you need. It is the holy grail.