Video journal: I'm ****e at trading - watch me get better than all of you!

myattitude said:
long eu

9d544ae58ec3f4e8d9ef9b91abe14885.png


accidentally clicked twice but the basic trade is still clear
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love timestamp 4:36
 
myattitude said:
OK slight clickbait. Only joking :cheesy:


So quick story as to where I'm at, in 2012 I was pretty much scammed by the guru industry when I bought a gap trading system written by the "guru" John Piper called KrautGap - me and my friend have since affectionately called it KrapGap. It cost me quite a bit of money playing that product, which was for naive newbies who don't know better than to give money in exchange for a duff system - I kept convincing myself "oh maybe this is just one of those few losing months he mentioned, I just have to keep my mental discipline". Well even after I saw the light and stopped getting bum-raped by it, I went back into the archives to 'back trade what would have been' if I had carried on. Suffice it to say that since I bought it in 2012 it has been losing more than winning.

I emailed him back and forth a little when I was a newbie and he was actually very responsive, but then I emailed again after I tested some tweaks and improvements to his system (that I worked out my own newbie-self) with a complete 8 months worth of 'back trade' data to compare, to see if he's legit or not from his response...he fell silent and stopped emailing me back after that....enough said!

So that was a while ago, long before I joined this forum. Since then I practiced on a demo account to learn my own techniques and methods with a safety net, with a view to going live once I have gotten decent.
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hey MA

we've all been there on the scams so don't beat yourself up.........its part of the learning process :cool:

good luck with the thread...........a journal is essential to better trading..................stops us all from kidding ourselves .........

N
 
NVP said:
hey MA

we've all been there on the scams so don't beat yourself up.........its part of the learning process :cool:

good luck with the thread...........a journal is essential to better trading..................stops us all from kidding ourselves .........

N
Click to expand...

lol. well i'm glad i didn't give up and become another statistic. i got scammed, i've put it down to experience, now im going to make this work and make my money back, and then hopefully some more :cheesy:

thanks for the good wishes, im learning a lot since i started the thread, especially with being brutally honest with myself on the live feeds, i find its accelerating my learning curve. i overtraded on friday and ended with a losing day. now i think i already know why: didn't collect as many pips as i could have won (i let the market come back and hit my TPs at smaller wins or b/e, so missed out on some good points), so revenge traded to catch them up, but they were bad trades at bad times, and kept chasing my losses after that. ended up -30. ah how liberating being honest! monday is another day.

i must lose that emotion though. i think part of the reason is that im eager to be at a place where i can bring in consistent wins but im not at the technical level yet. tbh im still emotionally feeling right now like i must make up fridays losses this monday. i must weed that out and let calmness win out in the end, which i find almost always does in my short trading career. if i had the technical knowledge and belief in that knowledge, i'd feel a lot less of that urgency to be banking big points.
 
The morning range on dax wasn't very good and I've been hosed by all the chopping so far this morning.

67705951ff29c0cd7a6402259da00f4c.png
 
I made nearly 200 pts on my demo account but lost -50 on my live account today. Deary me.

I think one reason was I was too stingy with my stops and placed them too tight. On my demo account I could place the stops in the best strategic place and not care.

The other thing was around 2pm I lost confidence to trade live anymore so stayed on the demo account to place bother free trades, and I was bouncing those S&Rs like I was Pac Man hoovering up pips, especially on Dax.
 
myattitude said:
I made nearly 200 pts on my demo account but lost -50 on my live account today. Deary me.

I think one reason was I was too stingy with my stops and placed them too tight. On my demo account I could place the stops in the best strategic place and not care.

The other thing was around 2pm I lost confidence to trade live anymore so stayed on the demo account to place bother free trades, and I was bouncing those S&Rs like I was Pac Man hoovering up pips, especially on Dax.
Click to expand...

Hi MA glad to see your thread is still going strong. I read your post & I am just replying with this thought as I am out of the markets for a few days.

For me the conditions for trades today were very very thin (Dax). I could see after approx 9.30am'ish' the PA was not for me, unless of course I was to go into scalp mode & as I hadn't taken a position before 9.45am'ish', I could see the potential for the inducement & the chase thereafter.....so in these conditions "I'm oot !!"

Something I am always wary of these days is Monday morning, often waking with the groggy feeling from the weekend late nights & sometimes not going to bed early enough on Sunday eve.

I am disappointed if no positions are taken (as I see this as potential lost opportunity to test my metal) & as always the hindsight shows the obvious points of entry, BUT, the slow PA always makes me very wary, as I think the speed of PA is a very important point for me to make a decision to be in the market or not. Maybe you have the same thought, but if not, then maybe something to consider.

I will usually look for the speed of the print (among all usual signals) if the actual DMA price is fast moving, then I'm interested, if not, I just think "slow chop"

The 8am obviously has the lunatic asylum entries & I used to place pre market orders, also retrace entries etc after the open, but now I prefer to look more at 8.15'ish-9am period for morning directional bias. It just suits me more seeing the 'in market hours' price quotes.

It's a fine line, missing the rush hour PA train or not, sometimes it comes back for more passengers, sometimes it steams on without a decent second chance to board without the risk of being run over, but now I never chase it.

I think I will always be of the opinion that stops should not be wide. If the pre determined price points are hit, then I'll consider entry, & if the entries are in the correct areas then a large stop should not be required.

Demos give such a very limited feel for live trades.

The moment you place your actual live order you are flagging yourself up to the world (or brokers algo if if on SB platform), so I anticipate the entry being tested, it is momentum that will carry my trade in the direction I positioned myself.

But I also have in mind that it is momentum that could possibly take my position to a very dark place with wide stops if it motors in the wrong direction.

Good luck
 
tokyojoe said:
Hi MA glad to see your thread is still going strong. I read your post & I am just replying with this thought as I am out of the markets for a few days.

For me the conditions for trades today were very very thin (Dax). I could see after approx 9.30am'ish' the PA was not for me, unless of course I was to go into scalp mode & as I hadn't taken a position before 9.45am'ish', I could see the potential for the inducement & the chase thereafter.....so in these conditions "I'm oot !!"

Something I am always wary of these days is Monday morning, often waking with the groggy feeling from the weekend late nights & sometimes not going to bed early enough on Sunday eve.

I am disappointed if no positions are taken (as I see this as potential lost opportunity to test my metal) & as always the hindsight shows the obvious points of entry, BUT, the slow PA always makes me very wary, as I think the speed of PA is a very important point for me to make a decision to be in the market or not. Maybe you have the same thought, but if not, then maybe something to consider.

I will usually look for the speed of the print (among all usual signals) if the actual DMA price is fast moving, then I'm interested, if not, I just think "slow chop"

The 8am obviously has the lunatic asylum entries & I used to place pre market orders, also retrace entries etc after the open, but now I prefer to look more at 8.15'ish-9am period for morning directional bias. It just suits me more seeing the 'in market hours' price quotes.

It's a fine line, missing the rush hour PA train or not, sometimes it comes back for more passengers, sometimes it steams on without a decent second chance to board without the risk of being run over, but now I never chase it.

I think I will always be of the opinion that stops should not be wide. If the pre determined price points are hit, then I'll consider entry, & if the entries are in the correct areas then a large stop should not be required.

Demos give such a very limited feel for live trades.

The moment you place your actual live order you are flagging yourself up to the world (or brokers algo if if on SB platform), so I anticipate the entry being tested, it is momentum that will carry my trade in the direction I positioned myself.

But I also have in mind that it is momentum that could possibly take my position to a very dark place with wide stops if it motors in the wrong direction.

Good luck
Click to expand...

Hi tokyojoe, I just saw this message. Thanks for the support and advice. I do try to minimise my stop size but I find that catches me out a lot, what I really need is to get better at identifying momentum so that my tight stops work for me better when I enter trades.

I too find it safer to wait out the first 15 mins of the cash sessions, tempting as they might be when you watch the fast action PA sailing up with good momentum.

Anyway it's all part of the learning curve, cheers for the support!
 
myattitude said:
Hi tokyojoe, I just saw this message. Thanks for the support and advice. I do try to minimise my stop size but I find that catches me out a lot, what I really need is to get better at identifying momentum so that my tight stops work for me better when I enter trades.

I too find it safer to wait out the first 15 mins of the cash sessions, tempting as they might be when you watch the fast action PA sailing up with good momentum.

Anyway it's all part of the learning curve, cheers for the support!
Click to expand...

My pleasure mate, I know this much for sure from my 4 year "part time apprenticeship" it is that this game is constantly evolving, cycles, changing price behaviour, rest periods & periods of total loonacy, & actually that pretty much sums up my journey to date.....

The live chart time has taught me to be VERY nimble (it is our number one advantage) I may get caught in a potential trap, as we all do, but I have sharpened my resolve to accepting the loss very quickly & only yesterday avoided a potential larger loss/& or chop at 4pm'ish, when the pa looked like exhaustion of the down move, I went long, saw the trap after entry & jumped off with a very small loss that I then witnessed in front of my eyes would have dragged me down much further if I'd held.

......now where did I put that straight jacket ??

good luck today mate
 
Craziness on the dax and dow! Sitting on my hands, I'm not entering in the middle of that!
 
I've asked this on another thread but I'll ask here too...

I already have a live demo account but i like to keep practicing outside of trading periods too. Is there a software that can simulate trading conditions, or even repeat actions from previous days/years that we can just practice, rewind, restart,etc over and over again for practicing purposes?
 
i took a short from res down to 800 for 55pts.

f680e282f5c3a9c78184791a6993a724.png


but im only up +7 today so far due to some bad decisions and not taking profits when i could have.
 
got another 3 to be +10 today. Its been a poor week overall, down over 100pts, mainly due to:

a) keeping too tight a stop & moving it to b/e asap, which stopped me out and that would have won me very good pips had I kept the stop normal and let the PA breathe a little more.
b) Then chasing those "would have been" profits with not as good entries as my initial ones, which lead to losses; and then me chasing THOSE back too.
c) Started later having doubts even on good entries and letting them slip by, and then seeing what I would have won, and again chasing my tail after them.

If I kept things "normal" I definitely I would have been up this week. I'm getting a market replay software so I can keep practicing market opens and get my belief in my actions back. If I play a hundred of them on a replay software over say the past 6 months' opens, I'm sure I'd master it like a computer game.
 
down -20 at 8:13 on dax, I was correct with my short direction but my 22 pt stop was too tight because it went back 30pts before going all the way down another 100pts
 
So after this morning my account is now at £262. It was £420 at one point. I want to avoid having my account blown if I can possibly help it.
 
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