Exercises
September was good in terms of profits, didn't have a single loosing trade which means that I'm becoming more and more picky. Since july I have been practicing this by:
1) Staying home from school (on fridays mostly) just to watch the lower timeframes. This, beacuse I wanted to expose myself to the urge to take a trade on the lower timeframes. This exercise is really healthy for all of us who havent learned to control ourselves yet.
2) I've been calling friends and gathering them for "casino nights". I haven't gambled away a single SEK (that's the exercise, go to the casino watch other people gamble). I've done this beacuse it is really helpful to realize it's not about making money all the time. It's about making money when the optimal opportunity is given. Is it optimal to make money at a casino? F-u-c-k no. Still one easily gets tempted to hit the tables, especially when you see your friends cashing in their profits.
What's most interesting is the feeling entering your body and mind when you see others winning. Something in your mind is telling you (again) HIT THE TABLES FFS! If you are dedicated with the exercise you will just laugh at the idea and move on.
These exercises are not "invented" by me. I read this somewhere about a year ago, realized they were healthy a few months back though lol.
Cheers
September was good in terms of profits, didn't have a single loosing trade which means that I'm becoming more and more picky. Since july I have been practicing this by:
1) Staying home from school (on fridays mostly) just to watch the lower timeframes. This, beacuse I wanted to expose myself to the urge to take a trade on the lower timeframes. This exercise is really healthy for all of us who havent learned to control ourselves yet.
2) I've been calling friends and gathering them for "casino nights". I haven't gambled away a single SEK (that's the exercise, go to the casino watch other people gamble). I've done this beacuse it is really helpful to realize it's not about making money all the time. It's about making money when the optimal opportunity is given. Is it optimal to make money at a casino? F-u-c-k no. Still one easily gets tempted to hit the tables, especially when you see your friends cashing in their profits.
What's most interesting is the feeling entering your body and mind when you see others winning. Something in your mind is telling you (again) HIT THE TABLES FFS! If you are dedicated with the exercise you will just laugh at the idea and move on.
These exercises are not "invented" by me. I read this somewhere about a year ago, realized they were healthy a few months back though lol.
Cheers
Agree, didn't manage to close below 1.0500 though so I chose to pass that one. But that one sure has some nice space to move in.
Eursek
I'm short EURSEK since this morning. It's quite a choppy market with a ranging rectangle. But seems to me that momentum is gathering (which was seen today after some fair pushes by buyers). Price managed to get through the 50% level of the rectangle, believe we have an fair chance to trading into ~ 9.0000
cheers
I'm short EURSEK since this morning. It's quite a choppy market with a ranging rectangle. But seems to me that momentum is gathering (which was seen today after some fair pushes by buyers). Price managed to get through the 50% level of the rectangle, believe we have an fair chance to trading into ~ 9.0000
cheers
Attachments
hi guys i just wanted to show you my trading system i have been using this since 2008 this system makes me money every month!
I lost a lot of trading accounts, then i got lucky i heard a money manager mention what he has been using...now i got it! :clap:
this software works with any broker. And does not need metatrader. Only takes 1 minute to set up and no setting or adjustments needed or long manual to read and master, you just plug - n- play. The system automatically optimizes itself around the clock.
And looks for trades none stop. When it finds a trade it will give you exact entry and exit instructions. What pair to get in at what level and where to exit as well as updates on moving your stop loss. I learned a ton from just watching it trade all the time.
I think this is what a handful of signal services are secretly using. 99% of bots use metatrader and 99% of those bots don’t work, “i have tried them all because metatraders code was not designed to handle real artificial intelligence. Bot makers claim it,but metatrader code can’t handle it.
So they are fakes. And this is build using a code made for artifical intellegence. It’s
called joone. So now you know. I have mine running on my computer and i have a copy running on my smart phone so i get my trade alert anywhere in the world. Im not trying to brag, but thought i would just share on what im using.
You can find a copy "google "trading social" or forex android system
wooooow can't wait to use your system!!
*not*
dan1986ccfc
Active member
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Wow, pretty, I want one. Who do I give my bank details too
I've stopped trading until Jan 2012
I haven't traded since mid november mainly beacuse two reasons.
Firstly I've had lots of school this semster which clearly affects my decision making, my mind is at too many places.
Secondly, I managed to give back my profits in three trades total. In the last trade I was highly leveraged with a 30 pip stoploss on USDJPY (long) and risked 3% of my account.
I placed my stoploss at the most OBVIOUS level EVER, this was two days before the BJ intervened on the FX market (contributing to capital outflows of YEN denominated assets). I was stopped out on the exact pip, right after that market turned and followed my initial market bias and gained ~ 500 pips that same day.
I found out that the BJ had intervened when I was studying in the library, I logged in to my account and saw that I was stopped out to the exact pip. It felt terrible, that single trade would make my yearly return in to a very very decent one.
Anyways, I stopped studying and went home and just reflected over my decisions. I decided not to trade until the beginning of the new year and I have just taken a small peak on my charts every now and then.
Over n out
I haven't traded since mid november mainly beacuse two reasons.
Firstly I've had lots of school this semster which clearly affects my decision making, my mind is at too many places.
Secondly, I managed to give back my profits in three trades total. In the last trade I was highly leveraged with a 30 pip stoploss on USDJPY (long) and risked 3% of my account.
I placed my stoploss at the most OBVIOUS level EVER, this was two days before the BJ intervened on the FX market (contributing to capital outflows of YEN denominated assets). I was stopped out on the exact pip, right after that market turned and followed my initial market bias and gained ~ 500 pips that same day.
I found out that the BJ had intervened when I was studying in the library, I logged in to my account and saw that I was stopped out to the exact pip. It felt terrible, that single trade would make my yearly return in to a very very decent one.
Anyways, I stopped studying and went home and just reflected over my decisions. I decided not to trade until the beginning of the new year and I have just taken a small peak on my charts every now and then.
Over n out
I intend to trade a very similar strategy to the one you have going here. the money management is truly the backbone of this strategy though. if you risk the exact same amount (~1%) with each trade, then all you have to do take the higher probability setups and you will undoubtedly come out on top.
the trick here is to remember that no matter how good a setup looks, and no matter how positively sure you are that it will be a winner, the reality is, that it can in fact loose.
you could carry on for years successfully trading this way and then all the sudden get super cocky on one "sure thing" setup and bet the farm. then loose the trade.
it sucks and iv been there. but it has only reaffirmed my conviction of the overall strategy. i plan to trade support/resistance levels on larger time frames with a +1% TP and -1% SL. just start the trade with the TP and SL orders in place then let it ride until one or the other is hit.i figure i just need a win rate higher than 50% and i will be in the green when all is said and done.
good luck with your trading, you have a winning strategy, you only need to stick to the rules.
the trick here is to remember that no matter how good a setup looks, and no matter how positively sure you are that it will be a winner, the reality is, that it can in fact loose.
you could carry on for years successfully trading this way and then all the sudden get super cocky on one "sure thing" setup and bet the farm. then loose the trade.
it sucks and iv been there. but it has only reaffirmed my conviction of the overall strategy. i plan to trade support/resistance levels on larger time frames with a +1% TP and -1% SL. just start the trade with the TP and SL orders in place then let it ride until one or the other is hit.i figure i just need a win rate higher than 50% and i will be in the green when all is said and done.
good luck with your trading, you have a winning strategy, you only need to stick to the rules.
Thanks for the kind words Jow. I truly agree with you, but that is just something that is a part of the journey (betting the farm). Thing is though, I reasoned as you did before by risking 1% (not on the RR though). Problem is that by trading this way I believe there is no chance to maximize profits, sure you'll be able to make a few percent a year here and there but in the end you won't be able to produce abnormal alpha returns.
Somebody once told me and I strictly agree with him, good traders know how much to risk and when to risk it. I've just started to look on charts again and I'll be posting my trades here again, the difference is that I'll start with a small percentage risk and increase my risk up until 3% until I hit a losing trade. When I've had a losing one I'll go back to 1% and start to make my way up to the max. risk again (3%). Or something similar to this at least.
Regards
Your fade on the USDTRY (double top) turned out to be a excellent one after all
. Hope you made some money on this!
