Trading 3:1 RR is wise.Do you adjust your lot size carefully ?
What type of trading you do, what timeframe and what indicators you use if you use any?
Ok i am considering that you know how to trade and the problem is mostly with your position sizing,so i highly suggest to watch these 2 videos.It might save your account:
1)RISK MANAGEMENT-INTRO
2)RISK MANAGEMENT-ADVANCED
Forex Trading Why you DON’T NEED a reward risk ratio of 3 to 1 - YouTube
6.9% today, 7 wins, No Loses, ended on a good note,
All I need to do is stop rushing it, slow down, follow my rules, and the rest will come…
I know what my problem is, and it has nothing to do with risk, reward, entry or exit, its my impatience.
Im finding my groove latly, just have to realize, going for 5% a day today, will be the same as going for 5% in 6 months…
Im waisting time by rushing it… And by rushing it, I mean trying to get more then my 5% goal…
Want to add, that I HATE Oanda JAVA, just dont like it at all, and with my small account, I cant use MT4… So Im stopping using Java, so it rids the frustration over the platform, and concentrating on perfecting my system on MT4, the platform in which I grew up on…
Thanks much for your input tho, and I do understand what your saying,
Great profits to ya!!
haaaaaaaaaa,
Hey man how is your EA doing? Do you have your MM plan implemented in your EA also?
Hey Don, you may be right, Im not a follower, I make my own rules, I dont follow others advise, I look for a way, but my way… I guess Im just to egotistical to follow others, or even work with others… I do think I know it all, at least, if I have stumbled on it in the past… I wouldnt give advice if I knew nothing of it…
Im a fast learner, a self starter, and a perfectionist, a leader, a motivator…
I strive to be the best at everything I do… In Forex, I believe its necessary to think outside the box, while the 97% sit in it, like mimes…
I didnt go thru the pips school, I learned everything thru watching the charts… So Im more of a intuition trader, and 99% of the time im right, but what that has created is, the " it will come back" syndrome… Where I think Im still right, and move my stop, and then, well, we know whats next…
I lack routine preparation, such as morning routine, pre-forcast, and just started watching the calender. I wake up, and within 30 seconds, I could be in a trade, and its sickening… I admit that… " Hi, Im MoneyNVRSleeps, and im a forexaholic", lol… Its bad… And I know it is…
But Ive seen sooooooooooooooooooooo much action, its almost like, tiein a shoe… Its that 1 dang trade… Fear of losing? Haaaaaaa, I dont know… Yes, and no… The perfectionist part dont help, because I want to always be right… I recently challenged myself to see what I could do with 100 trades… I went something like 144-3… Some might remember that here… Anyways, the 3 loses, werent even my fault, it was the lag from PC to platform, because I use tight trail stops of 1.5 pips… But what it proves is, even beyond my control, I still cant be perfect…
That was using MT4…
I hate Java, and I think thats my problem, and is stressing me out… MT4 just pulls my focus more… But Im using Java, because Im trading with a $6 account…
So, Im now going to be strictly mt4, just cutting out the frustration of Oanda Java, as head scratching it might seem to you, its a solution to some of my stress…
I lake disapline, and I need to stop rationalizing with myself when trades go bad…
The sad thing is, Im not wrong very often, but I shoot myself in the foot time after time after time…
The good thing is, I have only lost under $200 in almost 3 years of learning… I learned some very valuable things, Ive been seering the pain of the outcomes of the stop moves, I felt the frustration of going on tilt, with real money, albeit on a small level, but still, the pain was there…
My objective is to be right, and be right often then not… You play, to win, the game.
Tell you what Don, If I dont turn the corner between now, and Oct 1, I’ll call YOU, and listen to what you have to say…
I think Im close, and I want to test the deep waters with what I have compiled to this juncture… I think I have the proper tools, and my trading ability is prime to take the next step… If I fail, I will except, and for once in my life, and this is serious, reach out for help… Go thru my forum posts, I never asked more then 1 question…
Im going about this next new week, totally differant… From morning preperation of the mind, waking up, jumpin jacks, coffee, and NO forex… Then, when I feel ready, Ill sit down, and go to work, and hopefully be done with-in 10-15 minutes… My fastest day under 5 minutes… Thats about where I want to be. Just sit down, stare at the screen for a steady 5 minutes, jump in, jump out, done… With the amount of margin I use, maxed usually, I need only 15 pips.
Don, we’ll see what happens… Have a great night.
Here is the screen shot from that time,
Wasnt a laugh, it was a sigh, if you will, Like a, Dannngg man, what should I do type expression.
Man, Im not messin with the EA thing anymore to be honest… Just another stress factoring into my forex career. I need to except my crappy 5%, and be happy with it, and go enjoy the rest of my day with my family… I dont need an EA…
On that note, Hows your going, ?
My wife started her vacation today, so, I have a week to get everything inline, structure a routine, and get my sht together, and just flow with the plan…
Its all about timing…
I like your idea and I think it’s completely plausible. The flaw in your method that I’m seeing is out of your 144 trades, your average pip per win is 2.18 pips. Your risk/reward ratio must be really high and 1 loss could be devastating, % wise. Another thing is the spread. You’re probably paying as much in spread as you are winning. Seems like it could work though, if you were extremely disciplined.
kashix, you were the one to stand up when I asked who is comin with me for the Dream Team… You know why I am not really interested in your part in this? You not once took my back on this… Instead of looking to see what I have going on, and what can be accomplished, your kinda shootin holes in my project…
I dont give a sht in what im paying in the spread, Im happy to pay it, I just want my 1-2-3 pips a move, because that what my system is wrapped around doing. Stick and Move… WHY? BECAUSE WE DONT KNOW WHAT THE MARKET WILL DO. YOUR 30-40-50 pips are not definit.
LOL, and once again, 144-3 just isnt impressive!?!?! Even tho I show that the losses amount to less then 3 pips TOTAL?
If you read anything I have wrote, you would of seen that i need so very little pips a day, and the spread is of very little concern to me…
So, for that, I have to let you go… Kinda like, insubordination, if you will…
Wish you much luck in your journey,
*hat tip
Thats funny, huh…
I feel Like Trump… Your Fired!!
Whats really funny, is, my wife works in food retail, she is a Manager. The store was crap, being run wrong, just about everything you can think of. Thru her, I fired 15 people, and turned the whole store around, and even got the company to open a brand new store, because the current one was run down, and actually drew customers away…
Thats Powerful,
[QUOTE=“MoneyNVRSleeps;519995”]
Whats really funny, is, my wife works in food retail, she is a Manager. The store was crap, being run wrong, just about everything you can think of. Thru her, I fired 15 people, and turned the whole store around, and even got the company to open a brand new store, because the current one was run down, and actually drew customers away…
[/QUOTE]
So basically you are saying your wife isn’t competent enough to do her job on her own…lol
YOU missed the point… What Im saying is, I tought my wife to be a better manager… Just Over Broke dont work for me… Im not broke, I just dont have extra money.
actually, im far from broke… And, I do bring in a income, and not even work, … I just want much much more…
I didnt lose $30,000 in this business… Im out less then $200 in 3 years, and thats pretty dam good, especially for the way I have traded…
I didnt spend thousands on courses…
Im intregied by compounding. Thats what brought me to forex…
I googled " Double my Money" on Sept 26th, 2010… Forex Is what caught my attenstion that very day…
So, you have to understand, that from the very first second I got into forex, my attention was around to doubling my money…
1 penny doubled daily in 30 days would be over $5Million
Dude, I really dont expect anyone to grasp my way of thinking… Im not like most… Im a wizard…
I haven’t been following this thread closely but is Money on another thirty 2 pip win streak induced high again…?
No, she WASNT… It wasnt her intentions of getting that job… She has a masters in Medical transcription, fresh out of college, but no jobs, so she took what she could… They threw her right in the position… She had problems, I helped her overcome her lack of authoritatives to others… She is the boss, and now people know, not to mess with her, and do your job properly, or your a$$ is out… I groomed her to be the best she can be at the position…
WHo the heck is competent to do anything on their first day of learning the sht, dude?
HUH,
You competent enough to trade on your first day? Were you competent enough to drive the first time your hands touched the steering wheel? Were you competent enough to ride your bike the first time your foot touched the petal?
Comon Dude, your takin stabs at me know, didnt expect that from you Pizza…
You CANT have competency if you never did it before in your life… She never managed.
Thanks for the chat,
WOOOOOOOOHOOOOOOOOOOO,
ALRIGHTTT,
" Id like to thank My family, They helped me thru this, and Id like to thank my 2 friends at BabyPips, and Id like to thank MYSELF",
Man, Thanks, * kisses Throphy, *SMH, this is sooooo freakin awesome"
[QUOTE=“MoneyNVRSleeps;520007”]
No, she WASNT… It wasnt her intentions of getting that job… She has a masters in Medical transcription, fresh out of college, but no jobs, so she took what she could… They threw her right in the position… She had problems, I helped her overcome her lack of authoritatives to others… She is the boss, and now people know, not to mess with her, and do your job properly, or your a$$ is out… I groomed her to be the best she can be at the position…
WHo the heck is competent to do anything on their first day of learning the sht, dude?
HUH,
You competent enough to trade on your first day? Were you competent enough to drive the first time your hands touched the steering wheel? Were you competent enough to ride your bike the first time your foot touched the petal?
Comon Dude, your takin stabs at me know, didnt expect that from you Pizza…
You CANT have competency if you never did it before in your life… She never managed.
Thanks for the chat,[/QUOTE]
How is taking what you said to its logical conclusion a stab at you money? If you are managing your wife’s store “through your wife” that means she doesn’t know what she is doing… Hence it’s a bit odd you’d be using that as a bragging point.
Also, calling yourself a “wizard” and “firing” random forum members is a bit unlike you as well. Tone it down or you’ll be losing the quality that the people rooting for you actually like you for.
MODS, please dont delete posts, this will be good for the Movie…