[B]Mr Gone[/B]
Is there a way that we can see your daily technical, sentiment or fundamental analysis?.. Not necessarily signal but an insights. I’m sure that many of us here wants more specifics from you.
Please consider this.
Regards.
I think the doubling of the account in 1 year was the best objective listed there 
You can even break it down further into 6% per month (that doubles an account in 12 months if compounded consistently)
I don’t believe that’s a particularly impressive goal, but simply being that consistent is actually incredibly difficult. Impossible if you don’t have a consistent and disciplined approach. I like to think of it as “learning how to walk before you can run”. No point aiming for bigger gains if there’s no proof you can hit the small gains consistently.
Just my view on that. and I agree that having an objective is important… otherwise you really don’t have a benchmark to measure your performance against…
Agree with you but doubling my acc is a further objective for me, i did not put all in order yet, an inmediate objective is to get a new cell phone, next buy a new chair for myself, later a propper desk then swithc to an stp.broker wich i already have opened an acc and i am funding it little by little. Next step adding an additional pair to my portfolio and trade it with that old MM account. That is for now what i’ve put in order the rest still a mess. It is not easy setting objectives.
Well i am testing a systematic aproach on daily charts wich basicaly takes trend channels, candle patterns and economic calendar. Each candle pattern has a valuation from 1 to 5 valid only when bounces one line of the channel and separately economic reports has a valuation fron 1 to 5 to, if the total valuation is more than 5 i pull the trigger. In escense i try to catch imperfections on a particular trend. But is not a proven strategy yet.
Another aproach i use is trend following wich i did not talk about yet because and even is the easiest thing to trade it is the hardest thing to explain on writen words. This last one approach does not requires a test, just the nerve to do the opposite, having an order open for months winning and winning instead of losing. In another forum i’ve explained but evil clowns just made a target on me and moderators did nothing about it. Here i have the confidence in mods but explaining in written english it is very hard. Maybe i’ll do it with the good Camtasia in another thread. Bad news, trend following requires much more patience. Good news you just need to be right once or twice and you’ll earn much more what you are willing to risk.
This leads us to another issue wich i’ve been talking about lately. Wich is seeing market as it is not as we think. Let’s take an example, the emas (on close) crosses. What is happening when faster ema crosses over the slower ema, the price is rising? No the emas are just crossing nothing more, the small average close price is getting higher than the average big average close. Nothing more. Instead try to use ema as a dynamic tren line but watch for price action first then look at you indicator. I am not agains technical indicators, even some pros use it but is the way how they look at the chart what makes the difference. That is an ugly truth I’ve learned wasting 4 years of my life.
In fact trading is difficult but it is much easier than you think. The big secrets are cut your loses short and let your profits run, the other secret is to trade what you see not what you think.
[B]Mr Gone[/B]
Thanks for this response. I will wait for your Camtasia/s. I’m still mastering my money and risk management in my demon (after my live account blown out)
Today everything that must happen happened. I was about to send everything to hell. I wrote it down in my diary and it was more than 5 pages. I’ve started the chronommeter but it is still ticking. Well, finally i’ve imagined myself in a nice place like a beach, didn’t work neither. Well if a quiet place does not work try with a funny situation. Imagine the seagulls on the sea, they look funny, imagine one posing over your head and it starts pecking at you, that will make you smile for a while and you’ll start thinking more clear eventually. It works with me. Complaining and feeling like a victim certainly won’t do.
Regards.
Lol i had the opposite i made no losses but just a little profit a bit sideways buy hey cant have all days been perfect
Well, forgot to mention that my position closed because of trailing stop with a moderate gain. Ther problem was the outside of forex. If you cannot solve the problems outside, whos suffers is your account.
Regards.
Are you in the level that you understand you must not risk more than certaing percentage? And still you feel frustrated by series of loses? Are you angry with yourself for not taken loses?
Well, it’s natural, so accept it, frustration will just not go away. One thing that helps is imagining yourself taking the loss peacefully right after you pulled the trigger. If you are a swing or a positiong trader just avoid to take a peek every minute, the noise of the market will drive you crazy. If you are a day trader well, sorry don’t know what to say about it, is a different level.
Regards.
Well as a day trader which is what i plan to be i may be able to help on that one. As my trades are quick in and out styles, i do not think of money, i just think of pips and that has helped alot, i just close it in profit at the last minute so i end up with a small profit rather than a big loss.
But its the same thing, i only have a 100 euro account, so trading 10% of it per trade would be mad, i have just accepted that i will never have a 100% ratio, but more importantly i have been watching the market and for me yesterday for EUR/USD i had some false positives as the market was sideways, so its a matter of knowing yourself and the market and knowing as best you can how your strategy performs. For me i am still learning but now i know if the market is sideways it is more risky than if there is a clear daily trend in one direction.
But i do face frustration, sometimes hours can go by and there are no entry points, then i can get a hit of 4 entries in an hour. You have to be patient and wait for the setups to come, accept you can’t sit by the charts all day and you need to eat, sleep, and the rest.
But yes it is more frantic as if i am a few minutes too late to exit my nice few pips profit befores a loss of 5 pips, and yes this has happened to me when i have been lazy and it has made me adapt to the market and made me learn if i want to this i must improve!
Anyone else have any thoughts ?
I have to agree with Mr Gone so much, now i have most of my old house jobs and tasks done my trading has improved! You got to be able to balance it, its just like getting angry from fighting with your wife and then you get in your car and get stopped by the cops driving 70 in a 30 zone. That emotional control is so important.
Let’s face it, there is no light at the end of the tunnel, trading is something more difficult like air traffic controles. You are controlin a sky with planes that never lands . Today might be shinny, tomorrow might rain and who knows. There is no safe heaven and there is no indian territory where federal army cannot get in. Just accept it, it is a bad world. The market has no memory and does not care who you are, does not care how you perfomed in the past. Period.
Regards.
Yesterday, i might have eaten something that caused me a severe dyarrea, but it happend at night when i was trying to sleep. I had a BIG stomach ache and i was waking up every 5 minutes you know to what. Anyway woke up in the morning still feeling bad but better. Opened my mt4 and guess what, SL was just activated 4 hours ago. Normally i would take it, but it felt like the end of the world. I was not thinking cleary and i’ve quited forex, for one single loss. Anyway after rehidratation all over the morning in my office, a seccret ombination of baking soda and salt and tons of water, i’ve recovered the lost liquid and minerals. Now i am feeling better i think more clear and having a second thought about it i did not do anything wrong, did not exceeded my quote of loss and did everything as system tells me to do, but in this case it just went to the other side.
When you have a medical discharge you just don’t go to work, the same must be with trading, you are sick just don’t trade, disaster guaranteed if you don’t listen to my advice.
Regards.
Glad ur feeling better Mr Gone.
I had the same thing when demo trading, when i was ill i thought i was trading ok but lost alot! After analyaing my few days of trading (once i was better) i realised i was doing stupid things like not following my rules, cutting too eaely so i would have a loss. It really dented my confidene but then i realosed some other really bad trading sessions had beem when i was tired or ill.
I can say i will not trade ill in the future.
Are you sick of making no progress at all? Well, nobody said this was easy. What you have on your favor is that at least you are giving it a try. Most people just rely on their 9 to 5 job or social securities. Some say it is a bad time to risk any penny. Well, lose is more than hesitate, the one who never fails is the one who does nothing. We must tolerate pain and failure much more than ordinary people.
Regards.
Oh no. Meant sick as in ill i am quite fluey at the moment, just watched the charts yesterday and did not trade, good thing as well as i would not of closed them when i should of!!
Another lesson for me when ill with flu pr anytjing i wont be trading those days 
The Subconscient (from now on th Sub) is a powerful tool you born with but it is not easy to train. Me for example i am terrified by cocroaches due to a realy bad experience in my early days and because they are carriers of deadly diseaces. And hence it is hard for me to train myself of liking roaches. But financial markets has a different risk, only our money and off course our self esteem is in stake.
Let’s say now you use propper risk management at first, let’s forget about profit taking for now. You risk only less than 2%, i risk only 1%. But you still not like loses. Well, imagine youself opening a position with no sl and suddenly market turns against you fast reducing your limit, imagine yourself trying to close it but nothing can be done, requotes happens, internet is gone, internet is back and your funds are lowering and lowering and you feel powerless, just feel it and now your phone rings, the traders nightmare: the margin call, but situation does not stop there, somehow the broker has its own troubles and cannot close it and finally your funds goes to zero but it get worse, you deposit is now negative and you cannot do anything about it and now your broker is trying to charge you back and time goes and it becomes a fortune that you cannot pay. You lose everything, your house, your car, your spouse, your kids, you end up in jail. Try to imagine that picture. Frightening isn’t it? Well, now imagine yourself opening orders and right after you place SL it activates, it sucks but wich feeling is better? Now imagine yourself having stoped out over and over until your account goes to zero, you feel depressed right? But at least you are not in prisson. Are you feeling relieved now? Nothing of this happened yet but is the power of the mind, this was an intense emotional trip and you only had to think about it. Why not use this power in your vantage? Imagine yourself being stoped out over and over but instead of being depressed imagine youself happy and confident over and over with each loss. With that you are telling to your sub loses are good indeed and it might not take as a dangerous situation. It’s like a life or death situation but in this case your are training your sub that aid will come itself and there is no need for fight or flee response, but please in real life situations don’t do this.
With this excercise you eventually remove fear out of the equation. It is not easy to train the sub i guarantee that, and i guarantee when you start practicing this excercise you will be stoped out over and over again. That is because taking loses is not the only thing you must learn. U¡You must also learn to take profits and that becomes more difficult because we realy don’t have a propper exit plan wich is not as simple as taking loses. Profit taking must always be bigger than risk level. For this you must have a 1:2 ratio or bigger, infinitum is much better. Imagine yourself pulling the trigger and being stopped out over and over until finally a good trade is taking place, imagine youself being tempted to close it too son and slap yourself in your mind. Imagine having that trade gaining and gaining. Also you must visualize yourself in poor gaining trades. With this you train your sub to be patient and not greedy, taking greed out of equation.
This is known as neurolinguistic programation and you can find many NLP excercises on youtube wich are realy easy, just learn two or three and that will do.
That’s all for now folks.
Regards.
Good point, here is some food for thought.
I had two trading sessions today at 07.10 - 0810 and 1300 - 1400 GMT (which was before i went to work and my lunch break). Now this was with a new broker and a live micro account.
Both hours i had started watching the charts just after my usual entry position would of popped up. I missed it by a case of 15 mins
Was i tempted to enter a trade anyway? No
Was i annoyed that i could of got 20+ pips on both occasion (which is rare)? No
Was i happy at the end of my two hours? Yes, very!
Did i make or lose any pips? No, i never entered a trade.
Mr Gone, and those experience will know why i am happy, in short, i obeyed all my rules, i never skipped them, one of which is not to enter a trade if i miss the entry window. This whole day i did not feel anything, just neutral. So my mental abilities are getting better which is good to know.
But for the record i can normally catch one trade in the morning, one at lunch and one after work when i get home between 1730 - 1830 roughly.
But hey, as long as i follow my rules in happy
Indeed it is not easy, even if you have a very conservative quote of maximum loses let’s say one per month it is still hard to like. Well, here i suggest you a neurolinguistic solution. Right after you open your order and puttin sl, imagine and visualise it going to the opposite and activating SL. Imagine yourself in a calm safe place, add it a smell you like, imagine you are feeling the smell, it helps if you have a perfume or a cup of coffe near to you, inhale it everytime SL is activated. With that you are training your SUB to associate losses with a safe place and a pleasant smell and so each time SL is activaded you will feel like in a spa.
This does not have sense at all but it works, 20 loses in a row and still feeling like heaven.
Regards.
There are many things we have to fight all the time and we used to face one thing while forget about another thing and that forgoten another thing will cause us major troubles later on. Everything becomes an obsession while trading, losese for start, debts if any, gains and so on but we forget about the mos important: “Success”, you must visualice yourself having success in a realistic manner.
To overcome one obsession i apply a simple neurolinguistic solution but while times goes by we tend to forget to face it again and we are not aware that obsession is coming back until it is too late.
What i do to face all this issues is to program an alarm to each issue during the day, thanks to the technology i can program various alarms in my android phone and put a different label on it and a different sound. So when the alarm sounds i just watch for the label and i just apply the correspondent neuro thing for that issue. With this we are forcing ourselves to come up with this issues and supress those in the act before the come by themselves when we are not aware and finally take control of our emotions. So all day long i am practicing neurolinguistic excercises. How do you think i manage to keep on and on, to like loses, not being obsessed with gains, using drugs? No. I even stoped fighting with my wife with these simple techniques, once you learn to see with eyes wide open you’ll see it is not the end of the world.
Regards.