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  • #41
  • Feb 6, 2020 10:49am Feb 6, 2020 10:49am
1st trade came out at BE +1 then a silly trade right at support, just stopped out and then went down, I decided to take GJ instead and Gcad is moving now...oh well thats how the cookie crumbles
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Success means going from failure to failure without loss of enthusiasm
  • #42
  • Feb 19, 2020 4:45am Feb 19, 2020 4:45am
OMG!! How do you sort out a complete lack of discipline!! I used to have sooo much discipline and it showed and now it seems I'm suffering from FOMO (fear of missing out) - must get my brain sorted
Success means going from failure to failure without loss of enthusiasm
  • #43
  • Feb 19, 2020 5:53am Feb 19, 2020 5:53am
Quoting lisat
OMG!! How do you sort out a complete lack of discipline!! I used to have sooo much discipline and it showed and now it seems I'm suffering from FOMO (fear of missing out) - must get my brain sorted

Hi Lisa...I feel your pain, I really do. It's a very hard mountain to climb, but it's the only way.

As you know something of the way I trade, more than most in fact, I can tell you that I just WILL NOT enter unless my entry criteria is met 100% AND the H1 chart (I trade M15) agree's on the direction.

Does this mean that I sometimes miss out on good trades because my entry criteria wasn't met 100%? Yes....yes it does mean exactly that happens, but not as often as you may think. More often, much, much more often the trade fails and I sit back and smile because I obeyed my rules, and they saved my bacon! If the trade DID work and I missed out on the pips, then I consider that the missed pips were not mine anyway....they belong to someone else.

I would rather spend the entire session with no entry if the criteria was never met, than make a 'near enough' entry. The problem with taking the 'near enough' entry is that if the trade works out, then next time I may be inclined to bend the rules even further. Sooner or later I will find that I have abandoned my rules and I'm making stupid entries like a newbie and losing more than I win. Better to not make the 'near enough' entry and go to bed at night having made no pips, but more importantly, having lost none! We can only trade tomorrow if we survive today!

When the criteria is met, I can almost promise that the trade will work and my target will be met. Of course 'shit happens' sometimes, but not often at all. Sometimes the criteria is met 2 or 3 times (over 6 pairs traded) in a single day. Sometimes the criteria is not met for a couple of days. But I'm patient and I can, and do wait. At the end of the month when I tally up the results and work out the daily average, it all looks good. So if I miss out today.....and tomorrow....and even the next day too, it will all even out at then end of the month....and that's what I focus on achieving. And I can only achieve that if I don't make stupid entries.....and I can avoid that if I don't take 'near enough' trades, but instead only take trades that meet my criteria 100%, and I have agreement for the H1 TF.

You can do it Lisa.....I know it.

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #44
  • Feb 19, 2020 6:00am Feb 19, 2020 6:00am
Great reply RJ
Your trade order needs to be in the right place at the right time.
  • #45
  • Feb 19, 2020 6:54am Feb 19, 2020 6:54am
Quoting realjumper
{quote} Hi Lisa...I feel your pain, I really do. It's a very hard mountain to climb, but it's the only way. As you know something of the way I trade, more than most in fact, I can tell you that I just WILL NOT enter unless my entry criteria is met 100% AND the H1 chart (I trade M15) agree's on the direction. Does this mean that I sometimes miss out on good trades because my entry criteria wasn't met 100%? Yes....yes it does mean exactly that happens, but not as often as you may think. More often, much, much more often the trade fails and I sit back...
Hi, RJ
I thought you trade 1M chart. Do you have specific reason you changed to 15M? Just curious......
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #46
  • Feb 19, 2020 7:25am Feb 19, 2020 7:25am
Quoting realjumper
{quote} Hi Lisa...I feel your pain, I really do. It's a very hard mountain to climb, but it's the only way. As you know something of the way I trade, more than most in fact, I can tell you that I just WILL NOT enter unless my entry criteria is met 100% AND the H1 chart (I trade M15) agree's on the direction. Does this mean that I sometimes miss out on good trades because my entry criteria wasn't met 100%? Yes....yes it does mean exactly that happens, but not as often as you may think. More often, much, much more often the trade fails and I sit back...
Thank you for the reply RJ. I know I can do it, I did it for long enough before, really don't know why I'm making these newbie mistakes, but I am determined to make it right again. Many thanks for always being there for support, its much appreciated.
Success means going from failure to failure without loss of enthusiasm
  • #47
  • Feb 19, 2020 7:45am Feb 19, 2020 7:45am
Quoting lisat
OMG!! How do you sort out a complete lack of discipline!! I used to have sooo much discipline and it showed and now it seems I'm suffering from FOMO (fear of missing out) - must get my brain sorted
You're brave enough posting your live TE. Not many people can do this. As a long time (about 10 years) loser, I am not in any position to give you any advice but IMHO, I am afraid you don't have any edge trading Forex. Perhaps you yourself know that already. Your entries often become immediate losers and rely on pure luck. You are just wasting your time. Your strategy cannot beat the market. Excluding some really exceptional people (perhaps RJ or Davit?), trading Forex or Stock Index is no longer human tradable. It's algo's playground. You can continue dunning krugering even after 10 years but hope you don't. Please read this: https://www.forexfactory.com/showthr...1#post12608271

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Breakout trading based on indicators is just perfect way to blow your account in this algo era. Price action? It's also very good bait to fish retailers. You see how pin bar players are taken out again and again by market makers. Pin bar doesn't work now!! Why don't you try Davit's pivot method instead? He might be a profitable trader although he cannot post live TE and his followers disappear one by one (where's General Lee?). At least, his strategy is not based on breakout. Or, try equity stocks instead of Forex. Also, look at this user: https://www.forexfactory.com/showthread.php?t=568569
He's struggling for 15 years now and I believe he won't be able to make it as long as he continue trading Forex. Look at some of his honest videos:
Inserted Video

Inserted Video


Now I trade Natural Gas futures exclusively and my edge is based on volume and money inflow rather than indicators (exchange based products have full depth of real volume. It's not possible in Forex). I like Indicators and they can be used as a 'reference'. However, their usefulness is very limited especially if you're strategy is based on visual backtesting of your indicators (most people do this). Finding your edge is very important. The working edges repeat their patterns reliably and they should not be complex combining many rules.
Life is short and I hope you don't waste your life as I did........
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #48
  • Feb 19, 2020 8:06am Feb 19, 2020 8:06am
Quoting heispark
{quote} You're brave enough posting your live TE. Not many people can do this. As a long time (about 10 years) loser, I am not in any position to give you any advice but IMHO, I am afraid you don't have any edge trading Forex. Perhaps you yourself know that already. Your entries often become immediate losers and rely on pure luck. You are just wasting your time. Your strategy cannot beat the market. Excluding some really exceptional people (perhaps RJ or Davit?), trading Forex or Stock Index is no longer human tradable. It's algo's playground. You...
Thank you heispark for stopping by and taking the time to put your thoughts down. I will read through the links and also the videos.
Success means going from failure to failure without loss of enthusiasm
  • #49
  • Feb 19, 2020 5:57pm Feb 19, 2020 5:57pm
Quoting lisat
{quote}Thank you for the reply RJ. I know I can do it, I did it for long enough before, really don't know why I'm making these newbie mistakes, but I am determined to make it right again. Many thanks for always being there for support, its much appreciated.

You're welcome Lisa....I think that we all fall into this trap every now and then. We just have to get ourselves back on the 'straight and narrow' and carry on!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #50
  • Feb 19, 2020 6:00pm Feb 19, 2020 6:00pm
Quoting heispark
{quote} Hi, RJ I thought you trade 1M chart. Do you have specific reason you changed to 15M? Just curious......

I haven't traded M1 for several years. Judging by your post above, you seem to already have all the answers so I'll not waste my time, or yours, explaining further.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #51
  • Feb 22, 2020 4:59am Feb 22, 2020 4:59am
Hey Lisat, how about posting your last trade.It was a good trade but I'm sure many others would like to know your thinking behind the buy entry. thks. I'm sure it must be a great boost your confidence which is a pre-requisite in trading
the cautious seldom err....C
  • #52
  • Feb 22, 2020 7:35pm Feb 22, 2020 7:35pm
Quoting heispark
{quote} You're brave enough posting your live TE. Not many people can do this. As a long time (about 10 years) loser, I am not in any position to give you any advice but IMHO, I am afraid you don't have any edge trading Forex. Perhaps you yourself know that already. Your entries often become immediate losers and rely on pure luck. You are just wasting your time. Your strategy cannot beat the market. Excluding some really exceptional people (perhaps RJ or Davit?), trading Forex or Stock Index is no longer human tradable. It's algo's playground. You...
Posting live TE is actually a negative even if you are profiting.It influences your decisions.You may cut losses too early when you should be waiting or get out of profitable trade likewise because you want to show green numbers.Your trades should be private this way your management of trades IS NOT INFLUENCED even with your own TE because you know you got audience!
Showing a 15year trader as none profitable trader is not motivational for anyone! 8 out of 10 restourants close within 2 years of opening.That goes for most businesses in general and still does not deter people trying to open businesses! You just need to be smart about it.Trading is no different.
Not everyone has mental and psychological factors to succeed in this business.That's just fact.The once who do gravitate towards where knowledge is.
Winners attract winners its hard to explain it but if you want to succeed anything in life you go towards folks who have succeeded not towards who failed.Its pointless of you posting the video!
regards
In trading, you have to be defensive and aggressive at the same time
  • #53
  • Feb 22, 2020 7:42pm Feb 22, 2020 7:42pm
My only observation is that limiting variables is effective way to zero in on a trade.When you mix too many systems styles of trading you end up creating confused system not good at anything in particular.
I'll say pick a system that suits your personality best and try to master it.
regards
In trading, you have to be defensive and aggressive at the same time
  • #54
  • Feb 23, 2020 2:11am Feb 23, 2020 2:11am
Quoting Davit
{quote} Posting live TE is actually a negative even if you are profiting.It influences your decisions.You may cut losses too early when you should be waiting or get out of profitable trade likewise because you want to show green numbers.Your trades should be private this way your management of trades IS NOT INFLUENCED even with your own TE because you know you got audience! Showing a 15year trader as none profitable trader is not motivational for anyone! 8 out of 10 restourants close within 2 years of opening.That goes for most businesses in general...
"Winners attract winners" ... for a short while apparently ,,,

This is just too funny not to point this out (:

https://www.forexfactory.com/showthr...3#post12766773
  • #55
  • Edited 1:12pm Feb 23, 2020 1:02pm | Edited 1:12pm
Quoting pips29
Hey Lisat, how about posting your last trade.It was a good trade but I'm sure many others would like to know your thinking behind the buy entry. thks. I'm sure it must be a great boost your confidence which is a pre-requisite in trading
Yes after I last posted, I dragged all my trades from this year to the charts and thought to myself....what the f*** were you thinking when you took those trades!! After Heispark's post I had to be honest with myself and ask if I actually don't have an edge, or if I do have an edge, and just not using it So I sat back for 2 days just looking at price on the different charts (m30) knowing what I need to see before I trade and waiting for that, then marking the chart where I would have gone in. I think because I didn't put myself under pressure to either put a trade in or not, all the trades were either winners or those that ran long enough to come out at BE, not after the fact, but at the time. Davit made a good point about looking at one system that suits you. I had been looking at too many variables while trading and decded to simplify it to a point where I could take the trade with a set of rules that doesn't change, not only entering, but exiting too. I decided to trade what I was seeing on Friday, hence the trade on GU. Because I had to go out and couldn't monitor the trade I put a trail on behind the previous bull candle and left it to do its own thing. If I had been able to monitor it, I would have not come out much differently in price as it happens.
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Success means going from failure to failure without loss of enthusiasm
  • #56
  • Edited 3:32pm Feb 23, 2020 3:21pm | Edited 3:32pm
Quoting Davit
{quote} Posting live TE is actually a negative even if you are profiting.It influences your decisions.You may cut losses too early when you should be waiting or get out of profitable trade likewise because you want to show green numbers.Your trades should be private this way your management of trades IS NOT INFLUENCED even with your own TE because you know you got audience! Showing a 15year trader as none profitable trader is not motivational for anyone! 8 out of 10 restourants close within 2 years of opening.That goes for most businesses in general...
no wonder you dislike posting a te. almost every year you stopped posting all of a sudden with open positions in huge drawdown and no margin left regarding your last posts before disappearing, sometimes with a soap story before, sometimes without notice. being silent for weeks or months.
everyone except your brainless cult followers can see the truth.

only a weak mind acts the way you described, being affected by dunning-kruger-illness („because you want to show green numbers“). a man of strong and independent mindset would not care about this or any influence of what you call audience. that is a main reason why you are here: audience. after so many failed attempts with failed approaches and failed threads, your main problem still resists as you are a former sports bet gambler without any professional background as a trader. this is also the reason why so many of your followers got silent over time, deleting their former te: they all failed within a year or two.

your analogy of opening a restaurant with opening a trading account shows your complete incompetence since those business are totally different. no wonder since your last job as a 50+ guy was a low wage union job after being jobless. but here, where everyone is searching for a leader, being hopeless as you are, you are a cult leader. lemmings dreaming to be a forex trader. ROFL

and taking into account your answer: take a look at carpe diem where i explained why a dd of >500k still do not force me to have a hard sl. +i donīt have a te cause itīs not offered with my broker while trading indices (correct me if iīm wrong).

just post another naked drawing of that women
fortis fortuna adiuvat
  • #57
  • Feb 23, 2020 5:07pm Feb 23, 2020 5:07pm
Quoting deltaone
{quote} no wonder you dislike posting a te. almost every year you stopped posting all of a sudden with open positions in huge drawdown and no margin left regarding your last posts before disappearing, sometimes with a soap story before, sometimes without notice. being silent for weeks or months. everyone except your brainless cult followers can see the truth. only a weak mind acts the way you described, being affected by dunning-kruger-illness („because you want to show green numbers“). a man of strong and independent mindset would not care about...
Maybe pm that to Davit. It adds nothing to Lisa's thread.

Don't comment on someone's thread unless you think it would add value to that thread. I feel it's a little disrespectful.
  • #58
  • Feb 24, 2020 1:42am Feb 24, 2020 1:42am
Quoting Pent56
{quote} Maybe pm that to Davit. It adds nothing to Lisa's thread. Don't comment on someone's thread unless you think it would add value to that thread. I feel it's a little disrespectful.
Thank you Pent56, exactly, I don't want this thread to turn into a slanging match against anyone at all, leave those things to other threads.
Success means going from failure to failure without loss of enthusiasm
  • #59
  • Feb 24, 2020 1:45am Feb 24, 2020 1:45am
Gcad signalled at 7.30 chart time which is 5.30 am my time, so not one I could have taken, but reviewing the charts it is one that falls in my rules.
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Success means going from failure to failure without loss of enthusiasm
  • #60
  • Feb 24, 2020 2:07am Feb 24, 2020 2:07am
Quoting lisat
Gcad signalled at 7.30 chart time which is 5.30 am my time, so not one I could have taken, but reviewing the charts it is one that falls in my rules. {image}
If moving to break even it would have just come out for +1 at 1.71683 but with no signal to come out yet, however it did reach 2 x the risk. I am trying to work out which is best, wait for a signal or move to break even. Likica never moves to break even as far as I know.
Success means going from failure to failure without loss of enthusiasm
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