Are you in trouble as a trader? - Page 2
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Thread: Are you in trouble as a trader?

  1. #11
    Quote Originally Posted by ;
    Simonds chart that he posted is an entire method with proper MM/ risk control.
    Hi abdunbar,

    Just want to clarify the risk element on the chart I posted previously:

    Risk for me is calculated after the response; in other words, I will not be taking touches with ceases (risk) past the green zones. I'll wait for price to hit the green zones and then (if it is demand such as ) wait for buyers to come back to the market taking the form of bullish PA that I recognise then set the stop/risk beneath the pattern. If price only goes directly through those zones that I won't trade. Hope that makes sense


  2. #12
    Quote Originally Posted by ;
    quote I'd love to illue this post with a live chart: GBPJPY M15.
    I'd like to post a conclusion. The chart below illues where price finally went and how it got there. There was a long trade at the upward arrow (for those trading the Asia session) according to bullish PA that created formed and support around 140.70. This specific short yellow line wasn't marked on the first chart, but where and how that bullish PA types is clear enough to determine if one follows this kind of directional predicated SR/SD/PA trading. The goal for the long is obviously the distribution zone initially posted. It would have given circa 35 pips/3R.

    I wouldn't have signature shorted that provide zone, rather I always wait for PA confirmation. The fact that price violated the distribution zone on test (small x mark) could have kept me out entirely at that point.

    I expect that anyone after this chain of posts will not be left in any doubt at all in terms of how price and profit flowed through this phase of the market. Moreover by detecting contemporaneously how price setup up their mind ought to be in a far clearer manner regarding having the ability to pick up a number of the tools and apply them for their own learning. I have often mentioned a man who went by the moniker Doctor. He provided me exactly the exact same sort of contemporaneous stuff quite a couple of years back and I have to say he's the sole trader I have ever corresponded with who presented his own charts in this way. I will never have the ability to think him enough for this.

    Too many of the FF people in trouble with their trading I've spoken to over time talk about one commonality - their mind is scrambled by attempting to emulate traders/teachers that have garnered a following by presenting wild looking outcomes but never ever discuss in any meaningful manner the hinges beforehand. I do realise I have taken the long way around to say this but as abdunbar alluded, if a trader is in trouble, the very first thing he should be assessing is his own BS meter. Is it charged? Is it fully functioning? The inner-voice never lies. I would go deeper in this but I sense becoming loquacious


  3. #13
    As a concluding remark on this thread, as it feels like it's run its course, I would just like to say I've been contacted by quite a few people that are experiencing difficulties, and with a couple of exceptions, the one thing that's most apparent to me is that traders that are losing a lot of cash are in denial. To continue trading if one is losing, without properly addressing the reasons why this is happening is simply suicidal. There are numerous reasons why traders lose, from simply not having sufficient knowledge and expertise of the markets to deeper, more personal/plogical reasons, but whatever they are, they all need to be identified and dealt with, as merely hoping one can trade through them whilst continuing to risk money is like a drug addict looking for a cure by taking additional medication - it will not do the job.

    If you're losing because you don't know what you're doing, it is easy - stop trading a stay account unless it is a micro-account, and go and do a little more learning on demo. If a trader hasn't doubled a demo account twice over utilizing proper money-management, then he'she shouldn't be risking any cash that can not be afforded to shed. It's that simple.

    If the motive is something else, state plogical - lack of subject; emotional trading, fear of yanking trigger/missing outside, and any number of emotionally based mistakes we all make, then sort those out before you risk any more cash you can't afford to lose.

    If you're in trouble, DO NOT live in denial - identify where it is you're going wrong, and do whatever you possibly can to rectify these flaws, because the markets really don't care - that they will take your cash, your self-respect, your loved ones, even your life in extreme cases if you let it, and move on like you didn't exist.

    If you're in trouble, face up to it, and do not bury your head in the sand, because if you do, your problems will only become far far worse.

    Due to all who contributed to the thread - I hope it helped a couple of individuals, and I want you all the very best.

    Cat

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