Can you explain how and why you let a trade go against you over 720 pips??? Is this part of your trading plan?
You should actually answer it honestly for other misguided newbies, but not for me… I already know the why and how.
I’m not cheering against you, but I’m not in the habit of giving anyone golf claps unless they are doing something right.
This better than watching Seinfeld reruns.
Scandinavian currencies pip values are close to a tenth of any other pairs. So a 700 pip move in scandinavian pair is the equivalent to around 70ish pips in something like the eurusd. Get it now Aaron?
Yay! Account is back in the green and there to stay lol! The recent price action has been good and I was able to recover from the drawdown several days faster then I thought I would be able too. Need to finish the first month of live trading with a profit.
Wish me luck!
XXOX
I don’t know why but myfxbook got wonky and the link stopped working.
Here is the new link to the same account.
Ha. Yes thank you for posting a working link. 
I don’t know why it won’t when I try.
Anyways I finished my first ever month of live trading with a profit! I’m mad at myself for some bad trades but overall I made $1,114 this week and came out of the hole. My total account growth is a little more then 15% for $773 in trading profit PLUS $45 of interest from positive carry trades it’s ok I guess. I’ll do better following the price action next month and hopefully make a better and more reasonable profit. How was everyone else’s month?
Yay!!! Nearing my first $1,000 in trading profit! I hope this is ok for my first month of live trading ever I can now pay for my semester of university books lol price action trading is absolutely the way to trade, it just seems so easy to follow the price on the charts and pull money out if the market. Hope everyone else is having better profits as well! Remember to follow the price people, it is as simple as buying when price is going up and selling when it is going down. Ignore everything else but price!
Lexi, this three book series beginning with this one on trends is what you need. They are not easy to read but the guy is a genius, I wasn’t profitable till I studied these books and began to properly understand price action. Good luck!
Great recommendations! I’ll check them out.
Lol. Lets revisit this post. The “elephant in the room”. Currently my losses are 3.8 times bigger then my wins in pips. My biggest loss is 729 pips. Even my expectancy for each trade is negative. My total pips since starting is -321. And finally, I’ve amassed 184 trades in only 19 trading days lol. These are all “disasterous” numbers.
But as of this second my balance is $1,000 more then when I started, that’s 20% gain in less then a month. disasterous numbers never looked so good to me. Lol. I took you off the ignore list in case you wanted to respond BTW, but I’d guess you would rather wait until I’m in a drawdown.
He has no need to reply. Most of the experienced and not so experienced traders will have a pretty good idea what he thinks :54:
What does that suppose to mean?
Well some of us are very new and, as this is Newbie Island, probably have no idea what that’s about.
Lexi, good luck to you. I hope your run continues. I guess as you’ve only been doing it for a few weeks you’ll still have a lot to learn. From your posts it seems that you are willing to put in the work.
Have not read all of the suggestions, but one that I have for you that I think was not put on here after skimming, is to step back a bit whenever you fail large - as in when you take a larger than intended loss either through negligence (I have been there) or by risking too much - step back: for example if you loose too much trading 3 mini-lots, step back to 2 or 1 until you have fixed your plan and are back to being consistent. If you fail when trading 1 mini, then step back to demo trading for a while until you fix your head and/or plan. This has served me well in getting back into the game after a big defeat (and I still have them ever so often). I would say good luck, but you shouldn’t need it if you have your edge and you know your edge.
If you have followed ALL the advice given in the school of Pipsology you are unlikely to go wrong. The absolute crucial aspect is money management and all that goes with it.
Congratulations on your lucky start Lex,hope you can keep this performance up long enough to educate us all a little.
Respect and thanks for posting the myfxbook link,a lot of the people who talk a good trade don’t have the balls to do that,but you already know that,don’t you.hope that this thread leads to bigger things
This seems like really good advice! I think there is a term in poker called “going on tilt”. Basically making emotional decisions trying to “win back” what you lost. In the end you always lose more.
Just trying to learn this market like everyone else! So far I think I’m off to a good start, glad I am learning the price action method from guys like jonathon fox, 2ndskiesforex, and krugman25. I can’t believe how easy it really is just to follow what price is doing.
