Having patience to let your trades play out in order to see the true probability of your trading edge is something most traders don’t do because they voluntarily lower the probability of their trading edge by meddling with their trades too much.
Thank you man…
you reckon? lol
damn wish my account reflected it. hehe
nah with serious time,effort and help from people that know there stuff this game can be mastered.
your legend kas so are you adamjn.
darth
How do y’all feel about entering multiple trades that are highly correlated. Meaning you will probably hit TP on all or hit SL on all
I reckon now is a good time to go short. From the 4h pb, little risk lots to gain.
Best
Well I made 50 pips off it lol
It’s a shame that this thread seems to be dying a slow death now that Aaron has moved on. What happened to all the other regs?
Yeah think everyone like me have been busy forging there trading routines to slay the fx dragon! I think I’ll start dropping in a bit more often. I found after awhile that I tend to let people’s opinion sway my trades. So after a brilliant month (for me) I’m here to bounce ideas off.
First thing I will say is do not let a losing week/month defeat you. August for me I was down -10% after a couple of breakeven months and I felt like throwing in the towel for a bit. But so glad I didn’t as September i made 13% and 556 pips. now I feel the confidence to use this as my starting point to recoup all the money I’ve lost on trading.
A friend recently said to me…
" The master has failed more times than the beginner has even tried"
Choice words I think. So if you truely want to be stinking rich and have the life you dream of, don’t ever give up.
'best
Darth
These last two posts are a perfect example of what the trading business is like. It is relatively easy to learn to become a good market analyst and identify patterns after they have happened. It is also easy to trade a SIM account or mini lots and record great profits. But once you start trading real money, that is when the difficult journey begins!
With that being said, above all else, you need the persistance as well as optimism that Darth speaks of to endure in this business through your ups and downs. Most tend to “move on”. But never ever give up!!!
Yea I also noticed that I get swayed easily so I actually stopped following a lot of threads and ended up finding things on my own and doing it my own way.
Failing is a definite must and I cant tell you how many times I’ve debated on whether I should continue FX or not.
This is brilliant and very true!
After a long downroad, its nice to be making money, people who know me here know i’m legit. So I hope this gives you guys faith that will hard work you can do it! -20% down and now in profit.
'best
darth
Blackjack players have similar looking equity curves, even though they lose over the long-term. I commend you for the transparency and posting up your results, but that is far from conclusive as the result of hard work rather than luck and expected statistical deviation.
Yes, the results are nothing really to go by, but Kyle has proven himself over the past months and is becoming a better trader everyday, I know this for sure. Please don’t bring him down with your Jealousy and failed desire to become profitable as I have spent months taking him to where he is now mindset and trading wise.
There are plenty of diaries for sale on Amazon which you could use to air your negative thoughts, just keep them away from here as thats not the way to help people out
Very true quote, extreme richness is VERY achievable, and I would guess thats why people are in the FX game to begin with… to get RICH.
A friend recently said to me…
" The master has failed more times than the beginner has even tried"
That friend must know his stuff
I see we have a few shellers today already Lets hope your motivating post keeps people reaching for their dreams.
Nice to see that you had two fantastic months.
I also quit reading these two PA threads and focusing only on reading, learning and trading.
There was too tiring watching everyone with tons of ideas… and as I am not that good in trading to give any advice I step aside.
Finally from beginning of July I trade on break even zone, but the struggle is tough … I feel like doing acrobatics on a thin wire.
There are almost two years since I have started and I am very happy with my trading progress. The battle goes on!
Francis, do you still use PA as your trading strategy?
I found few great PA books, writing by Al Brooks, they are very difficult to read and understand, but I made some obvious progresses on my technique with them.
May the Price be with you all!
Thanks man, banked another 4% today so the climb continues but i’m under no illusion that i’m the holy grail and I have another 25% to gain before i’m break even in forex completely. Yeah forex is a battle but as long as your still in the game anything is possible. Yeah I use solely PA no fundementals. read one or 2 books but what it comes down to is practice on sim, going though the charts and finding repeatable patterns, and trading like a robot(no emotion) the last is the hardest to do.
note to all I’ve got nothing to prove or sell i’m just here to help if I can.
'best
darth
No, the high has been taken out, and the low was broken before the high was taken out, meaning you should have been triggered and stopped out by now, wait for another signal… like the last H4 close, hopefully you got a position on it, TP 1 has been hit