Talk to ME :)

Beginner Questions
#1

Now that I got your attention. I wanted to be clear that this is not a 1 800 number that you can call in the middle of the night or your date just bail you out lol.

I will leave all the manly jobs thread to you guys in trading such as technical tools/analysis or fundamental analysis. This thread is simply to help those who needed a little push ( encouragement) to keep going or a place to vent on their failure that they are currently facing, maybe a support that they are locking because no one is believing in them. I will try as much as I can to help but feel free to pinch in your 2 cents as well.

I have found that even men needs someone to talk to ( not just women) to free up their minds so they can focus on what really is important to them and what they want to accomplish and to succeed in tradingā€¦A burden sometimes that is preventing them to succeed. I am by no means a female version of Dr. Phil. A common sense approach is sometimes what itā€™s needed.

ā€¦ Or just stop by and say ā€œhiā€ is good enough for me :slight_smile:

1 Like
#2

ā€œFailure is the opportunity to begin again, more intelligentlyā€. ~ Henry Ford.
You cannot learn if you donā€™t fail so do not be afraid when you fail or facing loses. Failure is not just part of life, it is essential to life. Same thing is trading, losing is part of the game. Learn how to manage loses.

#3

I will be posting Quotes and or other phrases that I have come across ( from books, websites, magazine,etc) and I will try to relate them and how to apply them in trading or any other personal life issues ( money problems, dealing with families, relationships, etc.)

This thread will serve as my reference as well so I have something to go back. I have quite a few references that I compile in my young age :wink: so I will share those hereā€¦so stay tuneā€¦

#4

Can you be babypips version of Amy Sangster?

#5

Oh I am so waiting someone will say thatā€¦ The answer is absolutely positively and resounding YES! Will that be good enough for you? Lol

#6

Since you mention focusā€¦ Focus is something that is sometimes difficult to maintian. Here are some helpful tips on that:
11 Steps to Insane Focus: Do More of What Matters | Live Your Legend

ohā€¦ HI :slight_smile:

#7

Thanks Mr. TD for sharing the link.

Ive read it and I agree with a lot of it though multitasking is what I sometimes do if I canā€™t do multi tasking, I wonā€™t get anything done as much. Though, I now tried to free up a little bit.

Hi :slight_smile:

#8

Well its been a long time coming but it seems that my ā€˜Luditā€™ishnessā€™ (is that even a word?) has finally paid off. According to TDā€™s link at least a couple of the 11 Steps are email related. No problem there for me as I hardly ever log in!:stuck_out_tongue: Another great time waster it seems to me is ā€˜textingā€™, although not mentioned? Hardly ever see a kid in the street these days without a cell in hand texting. Whats that all about anyway? One of my boys totaled over 5000 texts in a month recently! I know this because I get the bill. :eek: Perhaps its just me? I tend to phone someone on my cell, not text. My reasoning is you donā€™t switch on the TV to listen to the radio. So why text with a phone? Ok, its actually because I canā€™t be assā€™ed because it never ends with just one right? Ten texts later and the recipient still needs more info. Huge waste of time, just make the call! LOL

So PipNRoll, your going to give relationship advise here on BP? :20: Is this wise? I mean for your potential recipients. Could turn out to be a rich source of mearth though! LOL!!!

#9

Well uhmmā€¦ Hmmm or I can always play a dramatic soap opera of being ā€œhard to getā€. Oh wait, I am hard to get :wink: lol

Relationships could be with money, families, or a relationship with themselves. I think Iā€™m more on personal finance ( money) because thatā€™s what I knowā€¦ Or it could be a surprise :wink: Lol It will be fun!

#10

Hey. Cool thread you have here. Just dropping by to say hello!

Ps. if you have a winning forex system for me. Please do share :slight_smile:

#11

Not too long ago, I attended a seminar and it was quite interesting. One of the instructor told us to pull $100 cash from our wallet and hold on to it. About 20 min. later, we saw a few candles that was lit in front of the stage and an empty bucket. The instructor then announces that we fall in line and walk towards the stage and asked us to ā€œburnā€ our hard $100 cash in front of everybody. So, I was there in line like everyone else with my money in hand. As I was walking there thinking and asking myself why in the world would I burn my money? Are they crazy? We are all walking slowly until we reach the stage and the instructor asked us to stop. You can hear the sounds ā€œa sign of reliefā€ because deep down no one wants to burn their money and afraid to say so lolā€¦ We are all afraid because we will look like stupidā€¦ a peer of pressure I should sayā€¦

The instructor then asked us what goes to our mind while we are walking there and knowing we will burn this money. Are we going to burn it and why or why not? I donā€™t really want to burn it without any reasons as to why I should burn it. Some people say, they will burn it because they are not afraid of losing $100 and it is not a big deal to them. If that will make them successful, they will do it. Some says, they are undecided if they will burn it or not. So only few of us that says we will not burn our money.

This exercise is to show how you value your money. If you want to burn it without any reason or your only reasoning is because someone told you to do so, that means money is not that important to you. It is the same thing if you just throw a $100 out of the window. There is no value to you. We can always think about something where we spend money on that are less important to us.

If we apply this in trading, some people will think that we throw our money in trading. It can be true to some extent specially if we are losing and not seeing the result (profit) of what we are hoping to see. We can change that belief with each and every trade that we do , and because we value our money, we value our trades and only take trade(s) with the best possible probabilities of winning.

So, in your view, how do you value your money?

#12

Hey Kashix,

Thanks for stopping by. Any system is a winning system only if you know how to use it. I donā€™t have to reinvent the wheel because everything is on here in BP forums, threads, or other websites. Just test them all out and select only that fits youā€¦
just donā€™t ignore fundamentals. I know some technical traders might disagree with me :wink:

PNR

#13

I was a poker player for many years and there was this game called ā€œflipping,ā€ which meant the players had to go all in every hand despite their holdings for the agreed amount. This served as a way to satisfy their need for adrenaline rushes. But more importantly, it desensitized them to money, which allowed them to bet large sums of money and not feel the fear behind it. To them, the money was just a number.

Although iā€™m not sure the same can be applied to Forex, but I believe that the more value you place in the physical dollar amount that you stand to win or lose, the more youā€™ll let your emotions take over your judgment. I think the question should be rephrased to: How much do you value success? The more you value success, the more work youā€™ll put into developing your strategy and maintaining your discipline, which is what making money in Forex boils down to in a simple sense.

#14

Wow another poker player in BP. Welcome :slight_smile:

For me, to bet all in just to catch the adrenaline rush and greed, is not a long term approach for winning. I donā€™t know how poker playing works it maybe different in Forex trading so I cannot say much about poker.

It is ironic to say that we will use money to trade that we can afford to lose however we still need to put value on that money. What I meant and how I understand the value is, we protect what we have and do whatever we can to select the highest possible winning trades. If you value your capital, you will be more selective of what trades you should take not just place a trade because you want to or with no valid reason as to why you are in a trade. When we put value on something, we protect itā€¦IMO

#15

Since we are here to make MONEY, I will be posting some pressing topic that sometimes it is tough to discuss. I am open for discussion of what you guys/ gals think about because I donā€™t have the best answer so your input will be appreciatedā€¦

Here are the subjects that it comes to my mind:
Money Problems (financial success can still achieved despite of money problems?)
Men and Money ( oh I cannot wait for this one ;))
Relationships and Money ( ha! we shall see if I can pull this offā€¦ Iā€™ll try) ā€¦ Stay tuneā€¦

PS: Feel free to suggest if there is any specific subject/ topic that you want to talk about. I am open to learn something newā€¦

#16

The point, value of success, everyone has a different value of success, and thatā€™s why people trade their stragedy accordingly.

#17

Good point on the placing value on your money. To me, that is another way of saying donā€™t be reckless, be disciplined.

  1. Money Problems. The beauty of Forex is that you can achieve financial success with any account size. If you can somehow make consistent gains week in and out, the compounding money will take care of itself. This does not take into the psychological impact of making too much or drawdowns because that money seems extra valuable when youā€™re low on it.

  2. Men and Money. Iā€™m not sure I understand this one. Are we talking about ego and bragging about how much we make?

  3. Relationships and Money. Iā€™ll let you start this one off too.

BTW, Iā€™m guessing that being a superior master & contributor means youā€™ve been around for awhile. Can you talk about your personal trading experience? How successful have you been? Whatā€™s your personality and how did that affect the strategy you chose? I find it extremely difficult to find out how much someone makes from Forex. I can never get a straight answer.

#18

I have found that even men needs someone to talk to ( not just women) to free up their minds so they can focus on what really is important to them and what they want to accomplish and to succeed in tradingā€¦A burden sometimes that is preventing them to succeed. I am by no means a female version of Dr. Phil. A common sense approach is sometimes what itā€™s needed.

#19

I just pointed out why people will not give a straight answer on how much money they make. First is personal, that information can work against you, there are millions of people ready this on the net including GOVERNMENT. Not everyone is trying to be a millionaire. You can have a nice life with out sooo much money, everyone has their own goals. You knowing how much people make, does not do anything for you. By you working the forex, you should be able to tell that the sky is the limit. The question is, how hard are you willing to work for it??

#20

I will post them one at a time. Feel free to comment if something you guys want to add or disagree on.

The Superior Member whatever title doesnā€™t mean anything ( atleast for me) it is just shown how many post count youā€™ve made. It doesnā€™t really reflect your performance as a trader. Well my goal is to be an FX-Women soon so If I keep enough posting on my thread will help to reach that goal lolā€¦ I know itā€™s a lame goal but hey I have to do something hereā€¦As far as my trading experience, I only been trading for almost 2 years so I have a long ways to go. I have lay out a foundation that I think it is working for me so far. Consistent positive return month after month is hard to master so that is what I am been working onā€¦ I just needed time. I am actually testing something right now so I will post that result before the end of the year :slight_smile: