Yes mate.my money and I'm going to turn it into mo money.
Yes mate.my money and I'm going to turn it into mo money.
tokyojoe
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Listen to me aag, my best mate once told me early doors when I was green & keen, "what you gonna do when that gap smashes your stop & takes out your months wages in one day ?" he knew the craic & had never spoken to me so seriously !
Got me digging deeper.
I don't know one fantasists from another on this forum, there are so many failed wannabees biding their time on here it's ridiculous.
You seem to be legit & that's why I'm posting, stop trading for a while & get your head straight mate.
barjon
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From your recent experience it seems that when you are wrong you are very wrong (sometimes before it luckily comes right) and can't resist digging yourself further into the hole.
So try this:
1. Sort out your intended trade.
2. Put your stoploss order in FIRST
3. Don't make the trade but leave the order in.
4. If it triggers go with until you have a positive reason to close.
5. Recognise that any addition you might have made before that close point had you actually taken the intended trade could not be justified.
i have an imagination you wouldnt believe so if i was going to come up with some fantasy,it wouldnt be of being shafted every other day and i dont know why i would be on here anyway.this helps me collect my thoughts,look back at my trading and may even help someone else.
so you have a friend to talk to? thats good.if hes dispensing advice then he must be trading well.what else have you learned(or is it learnt,no matter(helps me write too) from him.
and yes,i was supposed to paper trade these last 4 months of this year after a kicking in august.something ive been meaning to do everytime i take a beating but still havent got round to doing it.
there hasnt been much luck barjon.you could call it luck if i just traded one way and one day it happened to go that way but ive 'wrestled' with it going up and down.
just that one last hurdle of accepting stops to overcome and more repetition/affirmation of my mantra 'chop of your mofo hand before you place another mobile trade'
D
Dowser
Hi aag100, I've just started reading your thread. Do you think you might have some sort of gambling addiction? Please don't take this the wrong way, I'm not preaching or even offering advice but it sounds like you have a very unhealthy relationship with trading at the moment.
No offence taken.ive considered that also and know I can't call myself a trader until I can execute my strategy flawlessly and except stops. And my relationship is getting healthier. I no longer trade after U.K. Close etc so I'm curbing this addiction.
Have you gone and deleted a post again? I received a message you had replied and wrote how it had all been luck. Yes it was harsh but no harsher than I am on myself. I've said before I manage to bring back losses in 70-80% of occasions with other 20 managing to get away.now the emphasis is on not letting those run away to -300-800.its not all luck which I will soon prove.having said that I have only to prove to myself.
Oscar Reed
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Might have been asked.
Have ever tired to reduce your size to the point where you don't care what happens?
I try and play my self in the game, start small and the trades give me a feel for the market, skin in the game as so to speak. You cam also then spread a few orders around the place.
Then increase size when I'm reading the game well, most day's I never get out of the small size.
But when I'm reading the market well, I want to push it(myself) hard(size) as possible.
PS
Good thread.
Have ever tired to reduce your size to the point where you don't care what happens?
I try and play my self in the game, start small and the trades give me a feel for the market, skin in the game as so to speak. You cam also then spread a few orders around the place.
Then increase size when I'm reading the game well, most day's I never get out of the small size.
But when I'm reading the market well, I want to push it(myself) hard(size) as possible.
PS
Good thread.
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counter_violent
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You know, you, me and darkie should pick somebody as a project. How about this One ?
There's material posted in this thread by the OP I can work with. Wouldn't take too much to turn this trader around.
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tar
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You cant turn a trader around , trading is a mentality , he needs to work hard with himself for years he needs to find his own sweet spot - not g spot - .
Each one is different , he needs to go through all mistakes over and over until he settles down , he needs experience. What works for you wont work for him because he is a different person . The moment you leave him alone he will screw everything .
To the op
Trade demo and treat it like a live account i do that all the time .
If you insist on trading live trade small but dont quit the demo . Dont trade futures contracts trade cfds or etfs.
Put in your mind that you wont make a living from trading .
Compounding few grands into six figures account doesnt work it wont happen .
Most traders lose especially in forums .
The human mind is not designed to cope well with trading , it turns into gambling on a second . Accept that .
Extra little patience goes all the way , the more you are patient the better , train yourself .
Lower your expectations , for example i am sure you can make 1% every year , lower your target it becomes easier the lower the better .
BTW i didnt read the thread
. But they are all the same .
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counter_violent
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You cant turn a trader around , trading is a mentality , he needs to work hard with himself for years he needs to find his own sweet spot - not g spot - .
Each one is different , he needs to go through all mistakes over and over until he settles down , he needs experience. What works for you wont work for him because he is a different person . The moment you leave him alone he will screw everything .
Tar mate, you need to quit with all this negativity man, I mean ffs .
Richard Dennis proved beyond doubt that you could train traders. I'm sure you know the story
To the op
Trade demo and treat it like a live account i do that all the time .
If you insist on trading live trade small but dont quit the demo . Dont trade futures contracts trade cfds or etfs.
Put in your mind that you wont make a living from trading .
Compounding few grands into six figures account doesnt work it wont happen .
Most traders lose especially in forums .
The human mind is not designed to cope well with trading , it turns into gambling on a second . Accept that .
Extra little patience goes all the way , the more you are patient the better , train yourself .
Lower your expectations , for example i am sure you can make 1% every year , lower your target it becomes easier the lower the better .
BTW i didnt read the thread
Neither did I but spotted a few things.
tar
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You can train some traders from scratch maybe in a different environment in a prop firm or something but not here in forums. Anyway be my guest .
GL
barjon
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Yeah, don't do it often but thought it was a bit harsh on reflection.
Worth repeating the last bit maybe which was that if your getting back from -80 to +6 was down to smart trading then how come you got to -80 in the first place.
In addition, if you look at it from the perspective if risk/reward, how smart is it to risk 80 to gain 6? I think that your emphasis should not be on "bringing back losses" but on restricting those losses in the first place. You seem to get yourself wedded to individual trades, but those trades are only important in the contribution they make to your bottom line. Too many of yours risk blowing a hole in your bottom line even though you often find some way of filling a hole that should never have got so big in the first place.
Oscar Reed
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Can be done I think
Tar not not so sure.
Been leading the pack for years, but same result(average punter)
tar
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Can be done I think
Tar not not so sure.
Been leading the pack for years, but same result(average punter)
Average punter ? That's a compliment
Merci beaucoup
darktone
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I reckon the OP should open up a demo account funded with an appropriate sum of play money, and run it in the background to compare against what hes doing now.
The acc should be divisible (ie 0.10ppp or some other tiny lot size).
The limit orders (using the smallest lot size) should be equally spaced out so if the FTSE100 goes to zero, the account draws down 100%. The TP orders attached to the limit orders should take a profit at +100 (if slippage is experienced on entry the TP stays put). Fresh limit orders are placed as the filled orders take profit.
Long orders only! No stops! :cheesy:
I recommend a candlestick chart set as below, that shall not be watched for more than 10 minutes per day.
The acc should be divisible (ie 0.10ppp or some other tiny lot size).
The limit orders (using the smallest lot size) should be equally spaced out so if the FTSE100 goes to zero, the account draws down 100%. The TP orders attached to the limit orders should take a profit at +100 (if slippage is experienced on entry the TP stays put). Fresh limit orders are placed as the filled orders take profit.
Long orders only! No stops! :cheesy:
I recommend a candlestick chart set as below, that shall not be watched for more than 10 minutes per day.
tokyojoe
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As I said agg, you seem legit, any readers who have been through the mincer will read your thread the same way, but I kinda get the impression that until a few of us started telling it how it is, most people on this forum were busy telling everybody what a billy big b@ll@cks trader they were.
My mates were good to sound off to a certain extent, but these guys are bonus paid city boys using instu hardware &...lets just say "others" money.
Everything I have lodged in my pee brain is through my own experience & observations, same as you.
I still advise time out, paper trade sounds like a very good move.
counter_violent
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OP missing in action. Or maybe the mrs dragged him off shopping !
Anyway, there's lots of stuff here to work with.
1) OP likes to be right.
2) OP hates the fact that his stop is never in the right place.
3) OP understands that the market can do anything at any time and frequently confirms his view.
4) OP accepts that there will be very few home runs.
5) OP trades all kinds of time of day, when the urge overcomes him.
6) OP doubles down frequently and sometimes gets away with it.
If there's anything else, add it to the list.
The challenge then, is to devise a way of trading that fits the OP's modus operandi .
Anyway, there's lots of stuff here to work with.
1) OP likes to be right.
2) OP hates the fact that his stop is never in the right place.
3) OP understands that the market can do anything at any time and frequently confirms his view.
4) OP accepts that there will be very few home runs.
5) OP trades all kinds of time of day, when the urge overcomes him.
6) OP doubles down frequently and sometimes gets away with it.
If there's anything else, add it to the list.
The challenge then, is to devise a way of trading that fits the OP's modus operandi .
