spanish89's Daily Trading Journal!! Whooooo ;)

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If someone mentions in passing that they are bullish on oil, and someone else goes long within 5s of that comment, and comes back half an hour later blaming you for their loss it doesn't inspire much sympathy. I'm sure he's still welcome in the room, so long as he doesn't blame everyone for everything that goes wrong.
 
Look, over the past few months that Spanish has been posting here, and more recently when he shared his new strategy with the rest of the forum, there have been a few people who have tried to explain what might go wrong. Upon hearing other views, coherently put together, genuine attempts to explain to him concepts he clearly didn't grasp fully, Spanish has consistently responded with abusive and insulting comments. You could surmise the Spanish Saga as follows:

S89: "I am driving a borrowed car as fast as I can, without a seatbelt, WHEEEEEEE!!"
T2W: "Ok mate, but you know there's a brick wall coming your way, right?"
S89: "F*ck off you're all jealous I bet you've never driven a car in your life you w@nkers"
T2W: "hang on a bit spanish, can you see that things are going to go wrong?"
S89: "C*nts"
T2W: "Calm down - let us explain to you what is likely to happen, we are just trying to help"
S89: "C*nts."
T2W: "Spanish, theres a wall coming, we think you should slow down a bit and put your belt on".
S89: "f*ck off, you don't know what you are talking about".

**BANG!!** Spanish meets wall.

S89: "T2W, this is all your fault, if I had kept on driving at breakneck speed I would have been alright. You bunch of c*nts".

Until the boy shows a little humility, it is not unreasonable for those who have tried to help, and been on the end of his abuse, not to feel much sympathy for him.
 
agree but don't mock. as i said whether he makes a million or ends up selling the Big Issue I don't care.

amusing analogy however :)
 
spanish89 said:
....................im going only follow my own decisions from now, and so not going to allow myself to be swayed.........................! :sleep::devilish:
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spanish

Probably the wisest words you've said - win or lose, go your own way. You'll soon find out whether you can cut it over the long term, or whether the cautionary notes sounded by the experienced traders on T2W are to be heeded.

Whatever you may think, these experienced (and sometimes battle scarred) traders can be respected. They have nothing to prove to you or anyone else and although they are sometimes good enough to give an inkling of their strategy, they rarely give public calls on the boards - why should they? I suspect that when you can count yourself as truly successful you will stop doing it as well - apart from anything else it's an easy way to lose friends :)

good luck

jon
 
MrGecko said:
Look, over the past few months that Spanish has been posting here, and more recently when he shared his new strategy with the rest of the forum, there have been a few people who have tried to explain what might go wrong. Upon hearing other views, coherently put together, genuine attempts to explain to him concepts he clearly didn't grasp fully, Spanish has consistently responded with abusive and insulting comments. You could surmise the Spanish Saga as follows:

S89: "I am driving a borrowed car as fast as I can, without a seatbelt, WHEEEEEEE!!"
T2W: "Ok mate, but you know there's a brick wall coming your way, right?"
S89: "F*ck off you're all jealous I bet you've never driven a car in your life you w@nkers"
T2W: "hang on a bit spanish, can you see that things are going to go wrong?"
S89: "C*nts"
T2W: "Calm down - let us explain to you what is likely to happen, we are just trying to help"
S89: "C*nts."
T2W: "Spanish, theres a wall coming, we think you should slow down a bit and put your belt on".
S89: "f*ck off, you don't know what you are talking about".

**BANG!!** Spanish meets wall.

S89: "T2W, this is all your fault, if I had kept on driving at breakneck speed I would have been alright. You bunch of c*nts. Can you buy me a pizza?".

Until the boy shows a little humility, it is not unreasonable for those who have tried to help, and been on the end of his abuse, not to feel much sympathy for him.
Click to expand...

Brilliant! Just one small addition needed.
 
Until S89 takes responsibilty for his own actions and stops thinking so much of himself, he will continue to fail.
Some of the first lessons the market teaches are risk management, humility, emotional control and self discipline. Without those, he hasn't got a snowball in hell's chance.
Richard
 
:LOL::LOL::LOL:

I did say that im not going to blame any of you for my loss.. :clap:

As it was my fault that i was foolish enough to listen to what masque, fx, and dax were all saying to me about the trade i had, and how wrong i was and that the market was going to do the opposite.


I remember when mr masque was telling me all about hes a multi-milioaire poker player actually, distnictly rememeber all that **** about how he claimed he has a ferrari, a flat in monaco...

Yet he bets £4! :LOL:


This is what i mean by most the people on here talk complete ****. :LOL::devilish:



And if it makes some of you feel better or bigger in someway you can go ahead and think think;

''Oh that spanish, he followed his own method instead of ours, and he lost becuase of that'' :LOL::LOL:



But i didnt lose money cos i followed my own method...,
My method was 1 trade today- Keep holding the oil short from 140.27 at £2 tick, with my stoploss at $153.

If i had followed my own method i wouldnt have lost anything at all, and would instead be in a very strong position now with the dollar now rising so oil going to fall.



I lost money because i stopped following my own method and instead listened to all the others who were saying my trade was wrong, and even betting against me! :LOL::devilish::LOL:

And because there is a certain aspect of news and speeches that i always seem to get get in too early or too late on and so messed it up by going in too late today, and then starting to really panic and just go down my list closing all the trades regardless of if they were in a dip or peak.




The 1st thing wont be an issue again, as ive now demonstrated more than enough times to the entire community on this site that ive made 8 big forecasts the night before the market, and the next day i was correct every single of those 9x.

(I didnt manage to capitalise on all of those big moves myself, but my calls n forecast were correct each time, and i recieved alot of thanks from the people who did follow my calls and profited as a result)


However all the people who are still criticising my forecasts and and results of my calls if they were followed now dont really have a leg to stand on as ive proved 9x out of those 9 i was right,
yet they havent even made done 1 pre-market forecast or live call on her ethat has been correct!! :LOL::cool:



The 2nd issue is something i am going to start a thread in a sperate forum to ask for some specific sort of help with it.
 
Mmm.......sustain 4 consecutive losses of 10% of your original capital and you need a gain of 67% on your next trade just to get back to flat. Even using 10% of reducing capital generates severe losses, not to mention psychological ones.
 
Mr. Charts said:
Mmm.......sustain 4 consecutive losses of 10% of your original capital and you need a gain of 67% on your next trade just to get back to flat. Even using 10% of reducing capital generates severe losses, not to mention psychological ones.
Click to expand...

This is true but it doesn't change what is optimum...
 
arabianights said:
Gotta disagree with this, it's something said basically to stop newbies from harming themselves.

Kelly Criterion, innit ;)
Click to expand...

Kelly criterian only works when you know the odds you'll win and your rate of return.

In trading these are all estimates. Past performance doesn't guarantee future performance etc.

6 losses in a row (and that's not unreasonable by anyones standards) and you've lost half your account risking 10% a pop.
 
Hoggums said:
Kelly criterian only works when you know the odds you'll win and your rate of return.

In trading these are all estimates. Past performance doesn't guarantee future performance etc.

6 losses in a row (and that's not unreasonable by anyones standards) and you've lost half your account risking 10% a pop.
Click to expand...

I was complaining about 2/1% more than I was advocating 10%, although I just realised that was said in another thread and I'm looking a bit silly :eek:

Just saying examine everything... it's what spanish would have wanted ;)

Good trading all :cheers:
 
S89,

If you want to use massive stops, but in a more structured way, try this:

(1) Take the 4-hour candle you are in at entry.

(2) Scroll back on your chart until you find the first 4-hour candle with a higher high (short) or
lower low (long)

(3) Place your stop a few ticks above or below the candle. You'll have to work out the 'bounce' for
yourself

Then, when you open in a new candle, see if you can tighten your stop by finding a new 'lookback'
high or 'lookback' low.

Only a suggestion, and not the complete 'trade management' story, but I hope it helps.

Joey
 
The optimum may well be in excess of 10% for an individual trader, the approach used and the trade history, but the probability of a longer sequence of losers eventually is not insignificant statistically. Even with a relatively high success rate and high average win to average loss ratio, 10% is still psychologically damaging when a sequence begins. Of course you may be an exception :)
Richard
 
No BSing, there is only one way money is going to be made from this account.

First off, there is not enough capital to trade Oil. He needs to be on a platform like Oanda, where he can scale down his position size to represent 1% of capital.

Second he needs to watch my position for Short USD positions only. Then enter using his parameters, but waiting untill my signals, which already show a 80% win rate live on my thread.

Spanish, I can assist you with calls that are 80% accurate, signaling about every 3 weeks or I have a signal about every 6 weeks that as if the past year (live calls) shows 100% accuracy.
 
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