Im crashed today. - Page 3
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Thread: Im crashed today.

  1. #21
    Quote Originally Posted by ;
    Good words, 777!
    Thanks Mudd!

  2. #22
    Quote Originally Posted by ;
    unfortunatly buddy its part of the process for almost all of us. I spent my first 8 years of trading in the position the majority of the time. No internet, no charts, no help. Just a piece of graph paper, a pen and ruler and the telephone number to my broker. Trust me you can take action. Do so. Nobody does but that will never stop me from preaching.

    1. Demo till you reveal a profit 3 weeks in a row
    2. Then start a pocket modifiion account with an amount of money which causes no emotions when you trade. 3 weeks more revealing a profit before proceeding into another step.
    3. Finance your account with half of everything you've intended to and do it for 3 weeks. If you cant complete a step you dont proceed till you can.
    4. Never risk more than 3 percent of your account on any 1 trade.
    5. Do all of this and find success on daily and weekly charts before even trying intraday.

    This is treating it like a company and not a casino. You have a chance at long-term success coming things in this manner. Most new traders do the exact opposite of everything I explained and there my buddy is the 95 percent that dont last a year at this.
    What you have mentioned is a ideal egy to Forex trading. I've a word file that spare shrewd quotes like this there. Do you mind if I save yours there.

    Thanks,

  3. #23
    Quote Originally Posted by ;
    Hastings,
    I know that it may seem frivolous at this time, but since there's a discussion currently happening in the members lounge re NHL Playoffs, it might just be appropriate.

    Primarily and before we arrive, Look forward to the days when a $1,000.00 drop in equity results in a That pis-es off me type of response. Since in the event that you stick it out long enough to do much more analyzing TA, FA and ME eh, they may come.

    Secondly, NEVER attempt to take revenge on the Market. You may lose. Period. End. Finito.

    And Last, but not least. The hard lessons are those that teach the most. You've just heard the roughest. The Game will last with or without you. Your instant job today is to make sure you understand Why The way you made your error. Then as Accrete could say put it on your quiver.

    Back to the NHL.
    Just how many times has a spectator/fan stated
    Our men are much better than that. Why don't they just play like the know the best way to. It would make it so much easier to beat those other men.

    Much easier said than done, but that also is accomplished by little victories. one good hit, one good save, one good... Then the assurance begins to exude as well as the tide starts to turn. Then it is a case of maintaining disciplin.

    James' suggestions I think are only from his heart and possibly with personal knowledge of your current predicament.
    His suggestions may look like Shi_, that will take me forever. I need money today.
    He is only asking you to take 1 year and basically Serve your Apprenticeship Compare that to the length of time that it requires to pass finals on ANY additional Profession.
    Ahh.... Therin lies the rub. FX is money. Quick AND Fast In Out. Is that worth researching for a year before you throw your future family comprised online?

    Hang In There Hastings
    And
    Hang Out Here.
    Best fast answer support group going.

    [Hello. My name is Bill and I Trade Forex.]

    $0.02 CAD
    ps. Both Hastings Canada and Hastings NZ are named following
    Hastings England. The site where King Harold was murdered an arrow to the eye in the year of 1066.
    hmm. . More arrow stuff...
    your own allright bemac. I chase your posts down. 1066 hmm, being a long time amatuer astronomer I think that was the year the crab nebulae went supernova and haleys comet made a major appearance. All kinds of stuff was blamed these crazy things in the skies this year. Never understand where this forum may go.

  4. #24
    Quote Originally Posted by ;
    What you have mentioned is the ideal egy to Forex trading. I've a word file that save shrewd quotes in this way. Would you mind if I save yours there.

    Thank you,
    save away. Any friend of pooh bear is a friend of mine.

  5. #25
    Hastings

    MuddBudda said something that is extremely important. Not in the post just above but on the prior page.

    I think he said he stays with the trend and does not trade retracements.

    A tangent to that is to use retracements as buying opportunities in this situation going long with all the fad.

    He also mentioned being aware of the fundamentals e.g. todays speech.

    You might also need to look into O a n d a because they let you exchange in units in which 1 USD = 1 unit. Thus a miniature lot is 10,000 units or $1. But you can exchange for 1000 units ( a dime ) or scale down and up in other fractions of a dollar.

    I understand the followers of Bird Watching In Lion Country made some wonderful profit now. They are following the trend and so are constantly going long. Perhaps some scaled down but they weren't out last night and earlier before the address.

    Hope this helps.

  6. #26
    Post hastings. Trading is just as much about times like this than it is about trading egies and rankings sizing. When I have days like that I constantly think about the old saying'what doesn't kill me can only make me stronger'.

    Just another of my favourite sayings is'every good roll begins with a crap'. (thats dice lingo for you non gamblers!)

  7. #27
    Hi there, haven't post here yet but I believe I could relate to the situation since the emotions tend to shoot over untill u clinic to put ur head on a right path

    what happen to u, happened to me also and is probably what happens to over 50% of traders when they first begin - un faild to take responsibily for your trade, didn't specify the risk and thus out of fear of losing where looking for sign saying that your trade can still work while dismissing everything that says stop and reverse

    I truly suggest for you to read Mark Douglas's book Trading in the Zone - it copes with a psycological aspect of trading and how you should look at every transaction (i.e. you are say that maybe you are not good as a trade and ought to stop? - the question is: Does the result of your previous trade has any affect on your future transaction - NO! Because you can't possible understand it - each new trade gifts you with a new possibility with an equivalent chance for lossing or winning. If your believe in probabilities - all you have to do is find a border on your favor(system/model) and believe that over time that border will deliver profit based on completely random outcome of every transaction. Its like in casino - Casino has and advantage of 4.5% in a game of blackjack predied on its own rules. However outcome of every hand is completely random. So all they want is a large enough sample size(trades) to flip it into their favor. Of coarse u must use some type of money managment.)


    And a small question based on your rankings - did Eur$ actually hit 1.2563?

    Quote Originally Posted by ;
    I don't feel embarrassing that way since I had been gambling in shame of dismissing all technical/fundamental signals and indiors. I can list the stakes in case your interested in viewing it and allow me know why is it so wrong with it

    sold 5 in 1.2473
    sold 1 at 1.2501
    sold 1 at 1.2521
    sold 1 at 1.2529
    sold 1 at 1.2531
    closed the last 1 in 1.2541
    account shutdown in 1.2563

    gone

    I am the murdered possum.

  8. #28
    Quote Originally Posted by ;
    ...

    what happen to u, occurred to me and is likely what happens to greater than 50% of all traders when they first begin - un faild to take responsibily to your trade, didn't define the risk and so from fear of dropping where looking for indiion saying that your trade can still work while ignoring everything that states stop and reverse...
    A natural New Trader development might be defined as. .
    Confidence gt; Hope gt; Fear.

    Part of this learning curve from my perspective is never exchange from Beyond Hope.
    Always base your trades in the notion that NOW would be a good time to enter.

    B.

  9. #29
    Quote Originally Posted by ;
    I thought it was going to be one of my lucky days but it's not. Among my mini accounts got crashed just now. I simply can not believe what I've done and I've done that.

    I opened the trade window and saw eur/usd was starting to go up and up and that I thought it is not the great time to trace so that I decide to ch the reversal like I did before and that worked all the time. But not today. I am only a gambler today.

    I sold 5 slots at large and on the lookout for reversal. It did. A small bit say $30 around. I was nearly to take the profit and unwind to return to work. But I did not.
    Now the nightmare begins, it moved up/and down afterward went right up to north. I sold 1 more slot at greater price then market another 1 at greater, and then another 1 then another 1. 9 slots complete and the price still moving up. Half of my margins were blowing out. I got driven stopped by the trader because lacking margin.

    I read and see and see all the rules, don't over trade, cut loss when you are feeling uncomfortable, decpline, be awake blah blah, and I am still doing against the rules. Maybe I am just the one who can not do transaction.

    Anyways, I am just too hurry to get into the winners bunch. It is simply not the time.
    There's a simple remedy for this issue in the future...

    First of all, think in probabilities...

    Secondly, whenever you've got a strong feeling that you would like to go against the trend to ch a change, constantly reduce your position size to the lowest possible, and reduce your stop loss to minimum and take the excellent retracements without getting greedy. . .Oh yes, and don't pyramid agains the powerful fashion, simply be happy to ch the retracement with your minimum position dimensions and get the hell out as fast as possible...

    I also suggest that you out time your trade when against the trend. . .If the alteration you're waiting for did not arrive in 6-9 hours for example, get the hell outside. . .After a powerful move like the one we saw from the past 2 weeks, you should expect the market to retrace quickly, if it did not, it only implies that the market is more powerful than you think and You Shouldn't play with it, simply get out and see...


    Thanks,

    Nader

  10. #30
    Quote Originally Posted by ;
    A natural New Trader progression might be defined as. .
    Confidence gt; Hope gt; Fear
    LOL! perfect!

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