My Story, Need Advice - Page 2
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Thread: My Story, Need Advice

  1. #11
    Quote Originally Posted by ;
    your signature states u happen to be trading for a living.
    But say
    microlot = 1 a pip?

    Btw, what's wrong with/gobsmacking about or any Senior FF penis trading demos or micro lots?
    Does trading micro lots automatically/necessarily irritate a trader?
    Does trading micro lots automatically/necessarily render all of's (enlightening ) posts as BS?
    I dont know of a rule that states if u are Senior FF penis (state, 2004 - 2008) or trading live for 5-20yrs u cant trade demo or micro/mini's.
    Plogically speaking, I sincerely think, u.. .
    I believe the point is that who wants to things around with a few pennies a pip (or none) for years on end? People today keep saying not to be greedy, but for me in the end of the day I am not attempting to become successful at FX only for the personal satisfaction it might or might not bring, or since it gives me reason to post on FF... it is for the $.

    I personally don't wish to be'tooling' around with pennies at a year or two. At some stage this crap needs to turn into else it's all been a fruitless adventure and countless thousands of hours wasted for no gain that is significant, although I will be. It as masturbation studying a language or with no happy end and in the meantime could have been playing with xbox or whatever.

    A painter may like painting and like the science or method or history behind such eandeavours, but at some stage a painter has to have paid too! What's the point in investing hours upon hours on a painting to get a pocketful of change for all of the work.

    Not an attack on anyone, just food for thought.

  2. #12
    Thanks guys for replying. I am gonna be honest with you all and there are a few things I would like to mention .

    The very fact you are highlighting about your honesty seems to be hinting that you would like to maintain your stand, but your dilemma has attracted you to open this thread up.

    1. Even if its money I could loose, then it hurts loosing it never put an order hoping I'd loose.

    Nobody expects to shed when they place a transaction, but we must view it from another angle. It is about using a mentality to protect ourselves, although it's not about winning or losing. The market has no emotion, but it will feed on greed and fear of mental beings. It's not about being wrong or right, it is. Trading forex is like playing a probability game, you simply take your bet and manage your own risk. It is not because you chose wrongly when you lose, but it's due to the random probability of the market. Same is true for winning.

    2. After I started trading with real money, moving back to demo is like quitting like I have already traded for real, because it's no fun anymore.

    I have discounted my first account and also have just financed my 2nd account a week ago. For a few months I've been demoing between that time, and I still do. I am attempting to acquire although the problem is because I dread losing money.

    3. It's also challenging to exchange micro lots all of the time once I have traded lots sometime. It is like going back from reside to demo.

    I have had this problem too, but I have since realized that it's not about pips or dollars, but my risk management and keeping a good winning percentage over time. Making $1000 a commerce and earning $ 1 for 1000 trades including losing a few in the process give you the exact same amount, since it was got by me using winners and not with a hit of luck, but I'd rather be the latter. Trading is not gambling, it's serious business. I could shed one if I could win $1000 a transaction.

    I really don't wanna find a way that always work because I know its impossible. Loosing is part of the game. However, I want to control my feelings, anger, greedyness, etc which is completely possible but I do not understand how. I think if I can manage to do that, I will make more profitable trades than loosing transactions.

    I love you all replying and would love replying further with other ideas.

    Thank you.

    I think being persistent is good for ensuring long-term success but we have to be persistent with a winning mindset and not a losing mindset.

    PX

    Only my two pennies.

  3. #13
    Quote Originally Posted by ;
    Hello,

    I am new here and I'd love to discuss my story. I began forex trading on demonstration as part of my school course at the end of last year. The contest was over and that I came second but my trading did not end there. In all honesty, I got hooked on it. I was performing demonstration when I was profitable.

    I understand it was too soon to spend but I couldn't resist. I was greedy and I invested $1000. I can not sleep if the market is open and I am infront of my computer as far as possible.

    After trading live for 7 days, I lost several...
    Well one of the things I have heard is that trading can be sort addictive in a sense because you would like to ch moves and to boot its open 24/5 that is I mean it sounds logical you can watch all night and day.


    In my opinion the very best time to exchange is between 6 am and Noonish EST.. There is motives behind those times.

    Should you see night and day you'll go mad. Its stressful. You would like to become a professional trader you need to exchange like its employment.

    Same thing with US inventory I like they have a open and a close regular.
    9:30 to 4:00 it lets you walk away reflect, relax, plan your egy etc..

    I find that if I only walk away. I feel better. No Stress no worry. DONE for your afternoon tomorrow is another day. Irrespective of loss or the gains. Clean slate.

    You also say your becoming emotional it's since you probably dont have a plan. Stress comes from doubt. If you understand how much you can lose and profit. Its all about allowing it to enfold.

    For example
    1 percent reduction model. Which mean if my account has 1k in it I dont mind losing $10 per trade. So there are three factors.

    One Where I will enter? exp. Entry @ 1.3504

    Two Where I will depart as a worst case Scenario exp. Quit loss @ 1.3490

    Three Just how much can live with losing. 1 percent is a good idea. (that means that you may lose approximately 100 times in a row and still be in the game)

    Sidebar
    That is important because if you pull the trigger on a trade that you want to take you lost your money. Accept it. YOU ARE NO LONGER IN CONTROL. You can exit it might be a profit or a loss that's what trading is all about making and pulling the trigger.

    So knowing those three items we can earn a formula to your lot size


    so 1 percent of 1k is $10

    and remember you will get out in case a standing losses $10

    Entry @ 1.3504

    Stop loss @ 1.3490

    that's a 14 pip range.

    So it could be ( Max risk in dollars / Pip range ) - (10/14 = .71...)

    So roughly down to .70 cents a pip. Which equals 7 lots on a micro account

    If price moves all the way down 14 pips you will loss (roughly 10 dollars)

    See how easy this is!!! NO WORRIES. I know how much I can shed.





    That is my advice

  4. #14
    Quote Originally Posted by ;
    Hanover. I'm gobsmacked by this post. I am not attempting to be an arse, but you've been a part since 2006 using 2240 articles and you are trading microlots? How much is that a microlot? $1 a pip?
    Microlot = 10 pennies / pip.

  5. #15
    Quote Originally Posted by ;
    You've misunderstood me. I am surprised he is trading microlots. That was all. I couldn't make a decent living and increase my trading account every month trading less than USD$10 a pip....
    No Sir, I didnt misunderstood you.
    We have to always keep in mind that we have unique/different perspectives scenarios.

    It's all relative:
    from what I understand, Sir does NOT need to trade for a living (that's why he cant opt to demo /or trade microlots or whatever).
    Too, while Id live off of $10 a pip trades/profits, additional people in a different region of the planet can.

  6. #16
    Quote Originally Posted by ;
    I think the point is that who wants to stuff around with a few cents a pip (or none) for many years on end? ...
    I don't wish to be'tooling' around with pennies within a couple of years. I probably would be, but at any stage this crap has to become rewarding else it has all been a fruitless adventure and hundreds / thousands of hours wasted for no substantial gain....
    A painter might like painting and like the science or method or history behind such eandeavours, but at any stage a painter must get paid too! ....
    No worries Sir, no one's carrying your post as an attack.

    Un definitely have the impression that each effort should be rewarding compensated... paid well.
    Again, it's all relative.
    Not everyone is trading to your money. Or, cash isn't the principal motivation.
    Not all painters do it for the cost.
    Also, it doesnt necessarily mean that time was wasted or it was a fruitless venture if a person has no substantial gain from a considerable amount of exerted attempt.

    You can find much superior, subjective reasons/motivations than cash.

  7. #17
    Quote Originally Posted by ;
    Hanover. I'm gobsmacked by this post. I am not trying to be an arse, but you've been a part since 2006 using 2240 posts and you are simply trading microlots? How much is a microlot? $1 per pip?
    I have always found your posts to be highly informative and plausible but I'm gobsmacked by how many long term posters here are tooling around with pennies.
    Whats wrong with microlots? A lot of more term traders utilize micro lots. They capitalize on movements which require less capital risked per pip.

    It all depends on your own egy along with your risk appetite.

    Even day traders may utilize microlots 10 lot on a micro account on a 100 pip move per day is 100 dollars every day. Does anybody not mind earning $100 per day?

  8. #18
    Quote Originally Posted by ;
    I will say is that: I will say in good conscience your unsubstantiable assumption is wrong.
    What assumption? What, that 99% of the advice comes from those who haven't made a cent? I'd say it's probably about right, either that or just from trading nappies, some of the authoritative-sounding statements people make telling others what they should and shouldn't do as though that's the only way to do it comes from lack of expertise. I've said it before, nobody gets the monopoly on profitable trading egies or approaches, there are innumerable ways to skin this particular banana!

    Quote Originally Posted by ;
    People can say what they like about demonstration, but I'd estimate that it's saved me tens of thousands, in regard to learning how to create a profitable egy. So I have some extra $$$ with which to finance a nice size account, once I choose to do so.
    You made the perfect choice then, for you, others might approach it in another way and be equally profitable. Agreed there are still an awful lot of people who would have been better off trading demonstration rather than sink cash into something they know nothing about!

    -

  9. #19
    Quote Originally Posted by ;
    you will find much superior, intangible reasons/motivations than money.
    In trading? Really? I thought every traders why else would anybody commerce, prime motivation was money, the more the better? The group spirit, the camaraderie, the societal existence, or the enjoyment one gets from watching price moving down and up on a chart?

    -

  10. #20
    My advice is...

    BLOW YOUR ACCOUNT!!!

    ... take action now, it will save you a lot of pain

    seriously, once I tried to stop smoking, I tried hundred strategies, I discovered a hundred reasons more to begin smoking again. Finally I quit for real, because I said to myself'I want to lead a wholesome life', which was.
    Maybe you should say to yourself'I wish to be an effective trader'
    now, what could a successful trader do? For simplicity, imagine a professional trader with 20 years experience in this company, who dropped all he got through no real fault of his own, his wife his friends left him, he found himself on the roads thanks to intensified drug abuse, still in his expensive suit, however what's dirty, his fingernails are dirty, he didn't shave brushed his teeth for weekshe has bruises from fighting with roaming dogs, also cuts of financially unsatisfied whores, he's begging for money for weeks while sobering up and eventually gets 1000$ collectively to finance a micro account, imagine him trading on a pc apart from you, possibly in an internet-cafe, ignoring your trading decisions emotional responses to market movements. When you arrive, he's already there, always earlier than you, once you are surfing the net, since you are bored, he goes through his daily strategy, when you get mad, he stays calm, once you wear a revenge trade, he watches the chart, when you wear a 10 pip stop loss, he glances over at your entry and whistles, or occasionally even laughs at you,...

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