Dec 19, 2009 3:23am (4 hr ago)
luckylady
Member Member Since Jul 2009
318 Posts
As its pretty early on a very snowy UK morning, I just wanted to say a little something about the trader’s mindset and how much difference it can make to how you trade. More for my own processes than anything else because all I can say is, last week was a disaster for me and it was entirely my own fault.
Anyone that uses MT4, have you been through the exercise of dragging the trades from the history window to your chart? Its a very good exercise if you want to face the truth about your trading. After such a bad week I did just that, and what I was thinking when I put in and took out trades, all I can say is WTF!
I broke every rule there was, took 1 or 2 pips on good trades, then watched them run and run, then bad trades, let them run and run
This way of trading can make a truck load of pips a week if played properly, Pippinole can testify to that, he does it week in week out along with EO and quite a few others and I really admire their mindsets. Hopefully I won’t have another week like last week again.
I can see the trades before they happen, I could tell you where its likely to bounce, I know every single one of EO’s setups and know they work, so what happened? All I can think is that I stopped trusting what I was seeing. How strange!
If you went into the trading systems section of this forum and saw a system that had an indicator that put either an up or down arrow on the chart when the system told you to go, and you knew that 8/9 times out of ten they worked, it would be the most popular thread in FF. There are a couple of them now, in fact I’ve used some of them in the past, but as we know, no “system” lasts forever, the markets change and most only work in trending markets, which is why I started to learn this way of trading (because its not a “system”). I wanted something that would work in any type of market conditions, I wanted something that would work even if there was just a 30 pip range for the day I don’t think I have ever seen these words said by EO or the other seniors in this thread, you must have all seen these:
“Its too choppy, stay out”
“Market is ranging stay out”
“It hasn’t chosen a direction stay out”
“There will be low volume stay out”
in other words I wanted to learn to trade!
And that is exactly what I’ve done, I’ve actually learned to trade here, all thanks to EO and the others, but unless you can believe what you’re seeing and act on it, and get your mind right, its not going to do you a whole lot of good. This more than any other thread on FF relies on you and that is probably why a lot of people find it so tough, it doesn’t put an arrow there for you, you have to believe what you’re seeing and you can’t blame an arrow if it goes wrong.
So, into next week, when just about every other thread is giving up for Christmas, I am going to be still trading and at the end of this week I hope to have something better to report.
Please forgive my waffle, as I said, its more for my own processes than anything else, but for anyone else battling their own minds, at least you know you’re not on your own
Have a great Christmas everyone and here’s to an even better New Year
Thank you eohater
