Couldn’t agree more, although i think a lot of it is a lot easier said than done. Im one of those who learns best from my mistakes, im just glad ive made a lot of them while still playing with monopoly money!
Indeed - one of the most frustrating things in life is knowing what one ought to be doing, yet almost having an out-of-body experience watching oneself ignoring all the good lessons and doing the wrong thing from time to time.
Now you’re just showing off the strength of your link-posting kung fu! Always interesting to see a pic of someone I ‘know’ in these internet days. But you know you have red braces on under that jacket, with a jar of Brylcreem and a fat cigar on standby. Impressive to see a sober student, and in a suit as well. When I was at Uni, I had to buy a suit the day before my first job interview! Being a southerner at a northern Uni (Leeds) I would have confirmed way too many stereotypes had I ventured out in a suit before then. Happy days.
As for me, well obviously that is me in my avatar. Just your average 38 year-old gentleman trader.
Went short AU just now at 1-0186, but only in demo account. I’ll tell you all why I am only trading demo now shortly.
AU has now dropped over 330 pips since it took my stop out by 1.4 (ish) pips on my last short, but am I bitter about it?? Hell yes :49:
Anyway, looks as if it can break 1-0175 it may have a bit to drop still, got to dash now gang, taking my daughter to a medical seminar.
I’m actually going to start a new thread called “How many places can you take your daughter and her friends to in the same week when she only gives you 20 minutes notice”
It doesn’t have a lot to do with trading, but the psychological rollercoaster is about the same.
Life does indeed move on apace. That’s why I keep having kids, it helps split the calendar into clear sections, gives me a shot at keeping up.
It does, now you mention it. Then the problem is compounded by the fact that when I stop to disentangle myself, I am invariably approached by autograph hunters mistaking me for Roger Moore
I’ll count myself among that group, I’m afraid, I have been pretty absentee around these parts recently. But today marks both the return to school of the junior Templars three, as well as my own return to intraday trading, at least for two full days a week, so I should be a little more frequent from now on.
Glad to see that HoG might be around more, too - the band’s getting back together!
(Subject to the success of HoG’s guitar lessons, obviously…)
I know exactly where you’re coming from with that one mate. Everytime I stop at the traffic lights in my taxi I get crazy women running up to me screaming “Brad, Brad, get me pregnant !”
How could they possibly make that mistake I ask myself. I mean, don’t they know I’ve had the snip??
And as for the guitar success, I’m afraid the babypips band is the ONLY band I’ll be in for quite some time to come LOL!!
Aussie trade still in play, was around +20 at one point but is currently around -9. i’ll see how it goes into NY but right now i’m watching the possibility of it forming somewhat of a hammer on the daily. May have to bail if it does, still a bit early so some vigilance is in order
ok boys and girls, let’s get this over with. 1 event and 3 posts that have shifted the focus dramatically recently. I’ll start with the posts first.
Post number 1…
Post number 2…
Post number 3…
So what do those first 2 posts and the video have in common?? Well, I’m sorry to be the one who spoils the fun, but what they all do is point out that we HAVE in fact strayed from the point somewhat. Cross dressing trips to Cuba and vats of oil may well be fun, in fact they’re more than fun for those of us who take our leisure time seriously, but what they DON’T do is help improve our trading. And how do I know that???
Well then that would be the 1 event mentioned at the start. In the spirit of honesty that I have always tried to maintain here, I’m sorry to announce that I have just recently lost my first original account. Yep, sad but true. Now I’m not the first to do that, God knows I won’t be the last, so losing it doesn’t annoy me that much.
What DOES annoy me now though, looking back, is the manner I lost it in. To be honest, again, in the 16 months that my account survived, I never really made much more than a half arsed attempt at learning to trade. Never made a commitment to learning, to money management or anything really, except clowning around on this thread, which I must admit, I have had a laugh with some of you guys, you’re truly a great bunch. But ultimately that fooling around has resulted in me making an arse of the account
So where do we go from here? Well, 2 choices really. First one is give up completely. Well that’s not going to happen because when all is said and done I really do want to trade, hopefully eventually for a living.
So that leaves us with choice number 2, which is LEARN to trade from the beginning again. And that is where I’m going. However I think we may be a little too far down the line on this thread to start all of that so by Monday coming, this thread will almost be defunct and The Trader’s Arms 2nd Floor will be open.
Hopefully it will be more focused on the actual learning.(couldn’t really be LESS focused in honesty) Recently Sanj sent me a couple of ICT’s webinar videos, one of which was about trading Support and Resistance, and since I am now back in the novice ranks (not that I ever left) and I believe Support and Resistance to be probably the most basic way to start trading, I’ll kick off after a few intitial posts by discussing that and hopefully getting some feedback from most of you about it.
I should also add that I will be back trading demo for the good first while of the new thread. My demo account, like most demo accounts, carries an unrealistic cash balance so I’ll be trying to focus on stops and targets in terms of amounts of pips rather that % of an account balance. And it does go without saying, but I’ll say it anyway, that going back to this basic learning stage WILL BE basic for the experienced guys, but as always they’re input would be appreciated.
There may well also be a video by a guy called Eric Thomas at the start, whom some of our American cousins may know better as a motivational speaker, which may make you think I have lost the focus right from the first post, but there is a point to adding it. So it is onwards and upwards guys. Time to put up or shut up, (or Get serious or F**k off as we tend to say more poetically in Glasgow)
Anyway, going to leave y’all 'til the start of the new week. Hopefully I should be up and running for Sunday/Monday but my youngest daughter is in an ice skating competition that will see me getting no sleep between finishing my Saturday night shift and heading away to the skating so there is a good chance the new thread may be Monday/Tuesday.
Thanks to all of you who came through these doors and I hope to see you up on the 2nd floor.
Good to hear you are going to take a second chance… I’ve just highlighted what I think is the most important tool in trading, sometimes is overlooked by traders because its simplicity
Hope I can contibute in your brand new thread about this topic and discuss it in detail.
I was just about to reply to ST’s last post which i must have overlooked and hadn’t replied too, but i will refrain and try and keep on topic now - that said, the slightly off topic paths this thread leads is one of the more enjoyable parts of the forum, so i hope there not disappearing for good
I too am in support of the support and resistance, not that it means as much since im still a pretty much noob myself! I know some of you guys must of encountered his stuff before, but anyone got any thoughts on Chris Lori’s stuff?
I recently downloaded a big 12 disc dvd of his, and working my way through it. He is a big believer in support and resistance too, and i just finished a great disc on the importance of it from the higher time frames right down to the intraday action on the 15m and 5m - definitely been an eye opener…
My current plan is trying to get in sync with longer term trends (hunting the 100+ pip swings), but in future im considering scalping intraday (hunting 30/40 pips and getting out). Never been one of my strongest suits so im currently paper trading it for a while, along side running my proper plan on my live account…
HoG as always if your interested, or anybody else for that matter, shoot me a PM and ill get this Chris Lori collection over your way. Havent finished it myself yet, but so far really like his stuff. The approach he takes in these is great for learning as he first shows the concepts in theory, then shows them on a simulated chart, and then at the end shows an example of him taking a live trade with the use of the concepts with his thoughts at the time…
Glad to see you sticking around though, gotta live and learn!
Im pretty much out this week now as NFP tomorrow, speak to y’all soon, and looking forward to the new thread :)!
One of the main reasons i stick around BP is because of the people i have “met” and the fun i have had talking to them, yourself included. So I wluldn’t readily give that up. It’s just a case of the right time right place. I do tend to have a terrible habit of wandering off topic though so i may well open a thread in the melting pot just as a home for the non trading stuff.
Buckscoder did that once to keep us all on point and it largely worked. But then he went off to do his top secret government stuff, and get married, and we’ve just reverted back to the rabble we were LOL.
I’ll shoot you a pm to ask for the dvd collection.
Actually looking forward to a new start. Talk soon mate.
If I’m reading this correctly, then I wouldn’t worry about holding back - if this thread continues, then it will be as a fun thread. It is named after a pub, after all, and to my mind there are already enough pubs closing in this country, so I hope a few of us will still venture in here from time to time, even HoG. Get the stuff out of our system that we don’t want to put into the new, altogether more serious thread!
I absolutely hear where you are coming from, HoG, I said as much in my email to you, and overall I think that this is a good thing. I am sorry about your account, obviously, but if this is all part of your learning process then it is going to get you to a good place.
I for one will be in the new thread, and will try to be more active than I was in here over the summer, and will aim to make it about trading, trading, trading.
And to the wider group - I have seen HoG’s Eric Thomas video, and I think that it is the perfect start to the new thread.
At the risk of repeating this for the umpteenth time, I think we have always been very lucky to have attracted a certain type of clientele through these doors, most of which I now consider to be friends. I too think it would be a great shame to dump this thread as it now would serve an ever more defined purpose, although where the subject matter may lead us now makes me feel a little like Alice entering the rabbit hole LOL!!
But I for one have no intention of letting it go, and thanks to all of you who have made similar noises recently. This may obviously backfire horrificly on you all as I intend to unleash my thoughts on Greek Mythology upon you at some point this week and at the same time take the babypips title for the longest post ever !!
The new thread may take a day or two longer to get up and going as I am just about to embark on a journey that won’t see me get any sleep 'til Sunday night. Going to work now (Saturday 11 am) work until around Sunday 4am, get home and take Gus the dog over to my mother’s house for 5 am, back home to get the youngest Hogette up and ready so we can all be at her ice skating competition for 8 am. She skates around 10 am, watch the rest of the age groups and Mrs HoG talks to the rest of the mothers 'til about 4pm, stop on the way home for some dinner. Probably get home around 7 pm, go get Gus the dog from mother’s and be back Chez HoG finally about 9 pm after Mrs HoG has described every twist, turn, jump and hopefully no falls to my mother.
Then slump into a coma, fully dressed on top of my bed, or any available clear resting place, possibly Gus the dog’s bed, until Monday morning when it is up for work again. So the chances of me doing anything on the new thread are…well…I’m trying to think of a way of putting it without swearing…let’s just say there is little chance of the first post appearing before Monday night.
So talk to y’all soon gang, better get going, no rest for the wicked as they say !!!
I had a catch up with an old friend recently, i explained to her about me getting into trading. A few days later she sent me this article and reckons i will turns out like this LOL
" David Glasheen has been living on Restoration Island off the Australian coast for almost 20 years after he lost £6.5 million on the stock market "
