Taking Your Trading To The Next Level:

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mrsoul

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This thread is intended to motivate live traders to take their trading to the next level.

Live traders are in a position to help motivate other live traders with motvational posts about a good trade.

There is nothing better for a trader to hear than a fellow trader just hit a trade for 70 pips and what he did right to do it.

No one needs to explain their trading methods but an explanation of what he did right would help motivate other traders to trade right as well.

I think that other traders can learn and get psyched from hearing what other traders do right.

For example:

Friday I had a good day because I followed my methods- to the tee-, didn't make any mistakes, and I knew when to quit.
I knew that as soon as the volatility dried up I would quit because I didn't want to give back ANY profits.
Sure enough, at approximately 1pm(est) the volatility dried up (forex market) and I quit for the day- on my highs.
If I had continued trading- I would have given back profits.
I think that, depending on the method, it is helpful to be aware of when the volatility dries up.
Let's face it you can't surf if there are no waves.
I'm sure there are ways of trading where volatility means nothing; however, the way I trade, if the volatility dries up I am gone.
Also, mistakes are deadly and I didnt make one.

In short, Friday was good because I didn't make a mistake and I quit when the volatility dried up.


Feel welcome to make a motivational post when you do it right, I think that this positive group energy would help traders take there trading to the next lvel.
 
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I made a mistake, wasn't thinking straight, lost 100 pips (that's my typical stop size - I'm a swing trader). Fortunately, good money management means it isn't a problem. I'll get off the floor and come back fighting no problem.
 
shadowninja said:
I made a mistake, wasn't thinking straight, lost 100 pips (that's my typical stop size - I'm a swing trader). Fortunately, good money management means it isn't a problem. I'll get off the floor and come back fighting no problem.
Click to expand...

Losers never bother me because they are accounted for in my trading plan.
What kills me is when I make a mistake that was clearly avoidable.
I find that if I learn what I did wrong immediately after the mistake and then calm down, returning to my method is easy and then I am good to go.
 
Indeed. But mistakes happens. It just shouldn't ruin you.

Oh, and yes, of course, learn from the mistakes. The problem with many people is actually knowing what "learning from mistakes" really means. For some, when they lose £1k at trading, they think "learning from my mistake" means the mistake was trying to trade.
 
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not sure what pairs you trade but mine went fookin mental from 13:30 yesterday...other than EURO/GBP which fell to earth from 1 pm...for me...
 
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I began the week losing money.
Monday to Thursday i was losing.
Friday i recovered all, and still got some little profit.

I hope this help others to keep the chin up when things get wrong :)
 
cuotes said:
I began the week losing money.
Monday to Thursday i was losing.
Friday i recovered all, and still got some little profit.

I hope this help others to keep the chin up when things get wrong :)
Click to expand...

Cuotes,

What did you do right to make your money back?
This is the intention of the thread- to let traders know what you did RIGHT to make money.

From your picture, I looked at you like I look at a girl; then I went to your home page to find out if you were a girl.
Now I know how to think of you.-lol
 
Yuppie said:
13:29:20 - Choose market

13:29:30 - Chose head/tails for long or short

13:29:40 - Flip coin

13:29:50 - Place trade (making sure NOT to set stoploss)

13:30:00 - Casually observe NFP figure

13:31:00 - Close trade. Check whether account is up or down.


:party:


p.s. Cuotes, this is in no way directed to you. I'm just filling in some spare time. Good trading to you... (y)
Click to expand...

Yuppie,

Your time would be better served by playing at a casino with your "spare time" instead of attempting to derail threads with your "spare time".
 
mrsoul said:
What did you do right to make your money back?
This is the intention of the thread- to let traders know what you did RIGHT to make money.
Click to expand...

Surely, what he did right was see the set up and take it, following the exact same rules he followed the other times it failed. This is assuming he has a system with an edge.

A system/strategy/methodology/style will always have losses. This might be 5 times in a row. It's about probabilities. You have to accept that losses happen and have faith that your system works. You pull the trigger without fear and accept that this trade may or may not be profitable but you take the trade anyway. And if you made a mistake, you have a stoploss and suitable money management to limit the impact of your mistake. This is why I preferred to mention my loss rather than some 600 pip trade I made last year. Newbies have to get it into their heads that losses happen.
 
shadowninja said:
Surely, what he did right was see the set up and take it, following the exact same rules he followed the other times it failed. This is assuming he has a system with an edge.
Click to expand...

That's really the bottom line.

Some set-ups require a degree of interpretation in order to nail the entry.
It is here that mistakes can occur.
Avoiding these types of mistakes will optimize your profits.
 
mrsoul said:
That's really the bottom line.

Some set-ups require a degree of interpretation in order to nail the entry.
It is here that mistakes can occur.
Avoiding these types of mistakes will optimize your profits.
Click to expand...

There is the assumption he made a mistake. He may have made no mistake but had the strength of character to take each trade as the setup (or whatever) formed, especially with Friday's final trade. Many people would have got to Friday, seen the setup and been put off by the week's worth of losses, thus ending the week in a big fat loss.
 
shadowninja said:
There is the assumption he made a mistake. He may have made no mistake but had the strength of character to take each trade as the setup (or whatever) formed, especially with Friday's final trade. Many people would have got to Friday, seen the setup and been put off by the week's worth of losses, thus ending the week in a big fat loss.
Click to expand...


I was saying that, in general, traders can make a mistake on the entry because it might require a degree of interpretation.
I wasn't talking about Cuotes trading.

Ready to rock and roll this week shadowninja?
 
Originally Posted by mrsoul
What did you do right to make your money back?
This is the intention of the thread- to let traders know what you did RIGHT to make money.
Click to expand...

shadowninja said:
Surely, what he did right was see the set up and take it, following the exact same rules he followed the other times it failed. This is assuming he has a system with an edge.

A system/strategy/methodology/style will always have losses. This might be 5 times in a row.
Click to expand...

You're right mrsoul, I should explain a little bit. It's like shadowninja says.

I was doing exactly the same all the week.
Fortunately there is something that I learned from reading Market Wizards' book.
Always write down my feelings and the objective facts for every operation I do.
From my notes, I realized that I was having a problem with timing. I was entering too early, out of fear of lose the movement. And I was getting caught in little pullbacks that forced me to close the position.

Friday I made an effort to "synchronize" and wait for a confirmation. It worked :)
 
mrsoul said:
From your picture, I looked at you like I look at a girl; then I went to your home page to find out if you were a girl.
Click to expand...

wow! :eek:
didn't know that my homepage had visitors.
I'll do some decor on it :p
 
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