Kreslik.com - traders community since 2006

For me forex it's like a black-box, hermetycally sealed. No one can see what's in the black box and no one know's what it's happening in it.
The Black-Box it's alive! It's alive and it's moving and it's changing it's shape.
How it's Forex alive? Because we make it alive because we feed it with our money but the money are only the physical support of our thoughts and our emotions. In fact, we feed the Black-Box, through the money, with our toughts and our feelings.
The BB it's alive but does not have self-awarnes and that's why it's acting IRRATIONAL.
We, as traders, can act, and we must act RATIONAL.
Mr. Tro it's asking you about an edge. This is one edge. The forex act irrational but we can act rational. This is an edge!
In fact and basicaly, the Forex-Black-Box it's an INFORMATIONAL black-box and, in fact, trough our toughts and feelings we feed the FBB with INFORMATIONS.

ZEN wrote:For me forex it's like a black-box, hermetycally sealed. No one can see what's in the black box and no one know's what it's happening in it.
The Black-Box it's alive! It's alive and it's moving and it's changing it's shape.
How it's Forex alive? Because we make it alive because we feed it with our money but the money are only the physical support of our thoughts and our emotions. In fact, we feed the Black-Box, through the money, with our toughts and our feelings.
The BB it's alive but does not have self-awarnes and that's why it's acting IRRATIONAL.
We, as traders, can act, and we must act RATIONAL.
Mr. Tro it's asking you about an edge. This is one edge. The forex act irrational but we can act rational. This is an edge!
In fact and basicaly, the Forex-Black-Box it's an INFORMATIONAL black-box and, in fact, trough our toughts and feelings we feed the FBB with INFORMATIONS.

Define rational...

Define rational...

It means to have a REASON in doing this or that.
By the way, RATIONAL does not mean LOGICAL. Often, peoples are confused about this.
Our rational behaviour it's based on our reasons to act like this or that and our reasons are based on our needs.

I went long. Buy at 1.3863 (9:31 GMT). Exit at 1.3899 (10:48 GMT). I've made 36 pips.
But before, early in the morning, befor London openning I've lost 40 pips.

The Forex market it's an amplifing glass for trader's personality. Will mostly amplify the traders shortcomings with an order wich is equal with the order of the leverage.
If the trader is greedy the Forex market will amplify his greed by 100 or 200 or whatever the leverage is. Considering this, if the trader is greedy the Forex market will be 100 times greed-iest. If the trader is impatient the market will treat him with 100 time more impatience.
This is why the trader must be a very patient man and must not be a greedy one.

Lately I've been asking myself what is the most important thing in a trading plan!? And I found that the MONEY MANAGEMENT it's the most important thing.
You can be a very patient and non-greedy man, you can have the most succesful trading technic or strategy but if you have a bad money management strategy you will always lose.
If you risk (the amount of money you put on a trade) just the right amount of money wich you can aford to lose, and no more, you will survive on the long term.
If you have a good management of the risk you will always cut short your loses and this is very important on a long term business.
I would say that to put even 1% of your funds on 1 trade it's already a little bit to much. Stay under this number!
Many beginners makes the mistake of puting to much (more than 1%) of their funds on one trade. This is because they are in a hurry to make big money from the biginning. And they always lose.

Demo trading it's no good. It teach'es you nothing more then how to use your trading platform.
In order to learn something you have to put your real you, your real body and soul on the line. In order to learn somtheing you have to deal with many faces of the reality, of the real thing or real game.
When you lose money must be very painful, in order to learn how not to lose again. Demotrading does not theach you that, does not hurt you. When you lose money on demotrade you don't suffer and there is no pain and this is why is no gain.
This is why you will never improve your skills on demotrading. You have to go live as soon as it is possible.
Trading in demotrading too much time will make you lose your time and will make you lose your senses. Demotrading will make you weaker and not stronger because there is not real punishment and not real reward.
Demotrading will soften you!

I went long at 1.3909 (13:19 GMT). I exit at 1.3919 (13:24 GMT). I've got 10 pips. But then I went long again and I've lost a few pips because the market got short and I've exit.

Short at:1.5866 (06:30 GMT), exit at:1.5858 (06:34 GMT)
Got 8 pips

Went short at:0.9855 (06:32 GMT)-exit at:0.9850 (06:35 GMT)-got 5 pips

Don't think, just act! I love you Tro!

I don't use any indicators at all!!!