Forexmospherian
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Daily Profits/Losses Show and Tell
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Good Luck Trader MT4 - stay focused and have a good day
Good Morning MT4,
I echo F's sentiments too.
Best
John.
Well after I felt I was put through the emotional wringer yesterday, I'm glad that normal service has resumed.
Do I make mistakes, yes, more than the next man. Lately I've been getting up 2 hours later than I should be up, I sometimes forget to change the bid/ask tickets to the right side, I revenge trade, drink a bit too much during work time, trade out of boredom, I miss trades as I'm too busy watching an engrossing movie at the same time, I feel crap when I lose, and ecstatic when I win, I pull out of trades far too early, because I'm focusing on the increase in monetary gain on my account, and if I'm brutally honest, I'm guilty of treating the markets with contempt, I guess we all need a little contempt, or we would not be trading.
So with all these failings how can a person be successful, well my answer would be STRATEGY, STRATEGY, STRATEGY.
It matters not what strategy you choose either, be it EMA crosses, trading naked, fibs, pivot points etc etc, as all these indicators are being used successfully today, by many persons from their inception.
Be rest assured of one thing, if you do not put the time, and effort to learn your chosen trading medium inside out, the markets will exploit this fact, and ultimately take your money from you.
A good understanding of a good strategy, affords you to make a few mistakes here, and there.
A good strategy builds, and enforces confidence in yourself.
Back test your strategy on demo, but go live asap, and as long as you follow your strategy rules, so what if you have a losing trade/day. Most business's seldom turn a profit in the first year, and this is no different to being a self-employed business person.
Also choose a timeframe suitable for yourself, I am very impatient, thus swing trading would not work for me, and I assume a patient position trader would miss a whole scalp trade by the time they've got their order ticket ready.
Anyhow, that's enough morning rambling from me.
I hope you're all having a profitable day trading too.
Best
John.
Do I make mistakes, yes, more than the next man. Lately I've been getting up 2 hours later than I should be up, I sometimes forget to change the bid/ask tickets to the right side, I revenge trade, drink a bit too much during work time, trade out of boredom, I miss trades as I'm too busy watching an engrossing movie at the same time, I feel crap when I lose, and ecstatic when I win, I pull out of trades far too early, because I'm focusing on the increase in monetary gain on my account, and if I'm brutally honest, I'm guilty of treating the markets with contempt, I guess we all need a little contempt, or we would not be trading.
So with all these failings how can a person be successful, well my answer would be STRATEGY, STRATEGY, STRATEGY.
It matters not what strategy you choose either, be it EMA crosses, trading naked, fibs, pivot points etc etc, as all these indicators are being used successfully today, by many persons from their inception.
Be rest assured of one thing, if you do not put the time, and effort to learn your chosen trading medium inside out, the markets will exploit this fact, and ultimately take your money from you.
A good understanding of a good strategy, affords you to make a few mistakes here, and there.
A good strategy builds, and enforces confidence in yourself.
Back test your strategy on demo, but go live asap, and as long as you follow your strategy rules, so what if you have a losing trade/day. Most business's seldom turn a profit in the first year, and this is no different to being a self-employed business person.
Also choose a timeframe suitable for yourself, I am very impatient, thus swing trading would not work for me, and I assume a patient position trader would miss a whole scalp trade by the time they've got their order ticket ready.
Anyhow, that's enough morning rambling from me.
I hope you're all having a profitable day trading too.
Best
John.
A little more added to the kitty.
Does having a couple of good days mean you can take a few more risks, Yes.
Does that mean I will take more risks, No.
It is imperative, above all else that strict money management is applied, and entry rules are stringently adhered too. The entry criteria is the only "mechanical/mathematical" aspect of the trade, the rest is purely discretionary.
P.S. Please be aware that the only reason I am posting is purely to inspire others, and show that it can be done, that is all.
I am not a teacher, nor am I needing anything monetary, or otherwise in return, and please take my additional commentary(ramblings) as just that.
Best
John
Does having a couple of good days mean you can take a few more risks, Yes.
Does that mean I will take more risks, No.
It is imperative, above all else that strict money management is applied, and entry rules are stringently adhered too. The entry criteria is the only "mechanical/mathematical" aspect of the trade, the rest is purely discretionary.
P.S. Please be aware that the only reason I am posting is purely to inspire others, and show that it can be done, that is all.
I am not a teacher, nor am I needing anything monetary, or otherwise in return, and please take my additional commentary(ramblings) as just that.
Best
John
Ok, now I am definitely done for the day.
I was going to stop after my last post, but I was a circa £25 short of the £3.5k mark, and like a mole on an attractive lady, it would have niggled me, thus I decided to trade on.
That was hit, and then I thought why not try and end the day above the £4k mark, this is quite a celebratory milestone, as every time I go above this mark, I treat myself to a quality Cigar.
Sod the prednisolone for my chest infection.
Today I celebrate.
I am my own worst critic, and I know I made a few mistakes today also, but today I am happy with my performance.
I hope you've all had a very profitable day trading also.
Best
John.
I was going to stop after my last post, but I was a circa £25 short of the £3.5k mark, and like a mole on an attractive lady, it would have niggled me, thus I decided to trade on.
That was hit, and then I thought why not try and end the day above the £4k mark, this is quite a celebratory milestone, as every time I go above this mark, I treat myself to a quality Cigar.
Sod the prednisolone for my chest infection.
Today I celebrate.
I am my own worst critic, and I know I made a few mistakes today also, but today I am happy with my performance.
I hope you've all had a very profitable day trading also.
Best
John.
Did I say I was going to stop trading for the day, well this rule is very discretionary also. :whistling
I normally only take 5-10 trades per day, but today I've really went for it, more so to satisfy my curiosity/boredom, and today was one of those days where the proverbial stars just aligned, and most trades were smashed out of the park.
I came back to the screens earlier to do my end of day analysis, and markets were giving away money today, so like an endorphin chasing junkie I took some more trades.
A lot of people must have made an absolute killing on Cable today as well. What a giving currency it has been today, more so than usual, or is it that I've traded more so than usual, hence why it has been more giving. :idea:
Having 2 good days means I can afford to take the rest of the week off. I guess I may do just that.
I sincerely hope you've all had a profitable day also.
Best
John.
I normally only take 5-10 trades per day, but today I've really went for it, more so to satisfy my curiosity/boredom, and today was one of those days where the proverbial stars just aligned, and most trades were smashed out of the park.
I came back to the screens earlier to do my end of day analysis, and markets were giving away money today, so like an endorphin chasing junkie I took some more trades.
A lot of people must have made an absolute killing on Cable today as well. What a giving currency it has been today, more so than usual, or is it that I've traded more so than usual, hence why it has been more giving. :idea:
Having 2 good days means I can afford to take the rest of the week off. I guess I may do just that.
I sincerely hope you've all had a profitable day also.
Best
John.
nitrader
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Did I say I was going to stop trading for the day, well this rule is very discretionary also. :whistling
I normally only take 5-10 trades per day, but today I've really went for it, more so to satisfy my curiosity/boredom, and today was one of those days where the proverbial stars just aligned, and most trades were smashed out of the park.
I came back to the screens earlier to do my end of day analysis, and markets were giving away money today, so like an endorphin chasing junkie I took some more trades.
A lot of people must have made an absolute killing on Cable today as well. What a giving currency it has been today, more so than usual, or is it that I've traded more so than usual, hence why it has been more giving. :idea:
View attachment 183016
Having 2 good days means I can afford to take the rest of the week off. I guess I may do just that.
I sincerely hope you've all had a profitable day also.
Best
John.
Well done :clap::clap::clap:
nitrader
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Thank you for your kind words Nitrader.
Best
John
Hi John
I am all about Positive Attitude at the moment.
Being negative seems to cause more losses.
All the best for next week
Andy
It certainly does. Although a Dr's visit is needed for this man flu I'm still suffering from.
I must admit it's been a long time since I've actually put in more than 2-3hrs work per day, and even that's only on a 3 day week.
Am I pleased with todays results, of course, but the main aim of this game is consistency. Naturally, I am a consistently profitable trader, however what I would like to improve is consistency in other aspects.
Best
John.
You've hit the nail on the head Andy,
Its ALL about positivity. There's so much negativity like watching trading news items that subliminally influence you to the point where you're already crippled emotionally before you place a trade because your TA may show you a long trade coming up, yet all the news your watching is talking about a bear market.
Things like this can influence you indirectly, that's why I like to keep as much as a positive outlook as I can, and focus on all the positives in everything, rather than negative energy, which I'm sure saps more energy out of you.
And for everything else, Gin and tonics, my good man.
Best
John
Good Morning All,
Well its been a very giving morning, with my average daily return hit,
and truth be told, now I'm feeling bored as to what to fill the rest of the vast day with, friends are at work, as is my OH, I'm up to date on the movies front, too ill for the gym, any suggestions.
Best
John
Well its been a very giving morning, with my average daily return hit,
and truth be told, now I'm feeling bored as to what to fill the rest of the vast day with, friends are at work, as is my OH, I'm up to date on the movies front, too ill for the gym, any suggestions.
Best
John
Forexmospherian
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Morning John
If its not broke - dont fix it ;-)
You have had a great week by the look of it and must be pleased
Many mornings I think Ok - I could stop now and have a day off etc - and if I am not too well - would do
But normally - I drop my stake sizes and try and learn more etc trading through out the day - but at a more leisurely pace with plenty of breaks for odd domestic jobs and reading papers etc etc
Plus the fact - its Christmas soon - still not done all my shopping
Take it easy and again well done - and its only half way through the week - can you make another £5K + by Friday and take the OH on a nice short holiday break ??
GL
Regards
F
If its not broke - dont fix it ;-)
You have had a great week by the look of it and must be pleased
Many mornings I think Ok - I could stop now and have a day off etc - and if I am not too well - would do
But normally - I drop my stake sizes and try and learn more etc trading through out the day - but at a more leisurely pace with plenty of breaks for odd domestic jobs and reading papers etc etc
Plus the fact - its Christmas soon - still not done all my shopping
Take it easy and again well done - and its only half way through the week - can you make another £5K + by Friday and take the OH on a nice short holiday break ??
GL
Regards
F
scholfield
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May aswell just carry on and shoot for a 15-20K profit day
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