My 60 day challenge (Yes i know another hero...) - Page 3
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Thread: My 60 day challenge (Yes i know another hero...)

  1. #21
    Well done ! I enjoy the way that you recover after large losses, just work on the best way to lose and you are going to be just fine

    Keep it up mate.

  2. #22
    Msiamd,
    It is a fascinating thread you got going on here. Congratulations on the results up to Now! It reminds me of myself in June-July this year. For me personally, it did not end well since I had a lot of plogical baggage that I had to work through (I am better understand ). I hope you've managed to tame your inner greed and can continue going until the end without a nasty drawdown. You know, you can still do it. I mean accomplish your original goal of 10k at the end of the 60th day. You would have to make 15.65% a day each day</b> until the end, however [1-(14th root of (10000/1306))].

    One piece of advice. As you've had visits from the greed monster, I would assume you have had visits from other unpleasant characters that lurk the human mind. What I did was write down those things and afterwards tried to work out exactly what might be done differently. For example I overcame the greed monster by setting a very specific target that is not to be broken (along with the percent goal I've a'stop trading' percent ). Returns like yours are enough to make you feel as a trading god (at least briefly ) so keep focusing on this plogy. There are books out there to help you however an awful lot you are going to get work out all on your own.

  3. #23
    Quote Originally Posted by ;
    ,
    It is a fascinating thread you have going on here. Congratulations on the outcomes up to Now! ...
    Thnx to your service and counsel.

    Well 15.65% each day is maybe possible but I have a daily aim of 10%.
    Now was more because I had a day off from work. $10.000 would be wonderful to reach after 60 days. But to prevent to be a victim of the greed monster I will aim to get 10%.
    The remaining of the struggle I will try to train my thoughts, to prevent stupid things like letting losses run into date, and try to be more patient, to get a better entrance.

    Regards

  4. #24

  5. #25
    Hi,

    Well afternoon 47 started ok, but finished in a large reduction again. I know what I did wrong, but it's amazing to see how your mind is mixed up when you're wrong with all the transactions.

    So I'm back at $462

    it's still a hard company for me, and I want a lot of mind training.

  6. #26
    Quote Originally Posted by ;
    Didin't you soo that 1.5640 will be resistance?
    Not on time. But then I got margined out had no choice. Now it has occurred, the image is clearer, but thats too late. It was better to go long too, but after the fact.

  7. #27
    Hi,

    After the margin call this afternoon , day 48 was ok, until the big move upward in the conclusion of the London market.
    So there goes my profit back and turned into a reduction Not the top two times for me.
    I think I will set a maximum of profit for a day to get hold of the greed monster, just like Bug advised a couple of posts earlier.



    Starting to consider if I will continue for this journal. I know what my problem is, thats the only thing I have to work on. It is not to get greedy, no overtrading and also take a reduction know and then. The process I use works ok for me, except if price beginning to turn and I have to get out with a reduction. Now my head won't close the wrong commerce and go another direction.
    Hmmmmm.
    Except to finish this challenge I will posting the printscreens of my trades.

    Thanks for your service, and if somebody knows a good novel about physcological and trading, then just let me know. (For now I can see Trading in the zone )


    Regards

  8. #28
    I doubt that studying Mark Douglas's book is going to change things for you if you know the issue.

    What I would suggest is do not study your P/L and do not judge your trading from your daily P/L. Your job as a trader is to follow your plan. Grade your trades by how well you followed your principles to enter and depart.

    Learning to take losses quickly is the hardest aspect of trading.

    Stick at it.

  9. #29
    Well done! Did you do the incredible! What are the levels of ML MH?

    Due

  10. #30
    Quote Originally Posted by ;
    I do not want to seem like I am talking down to you, but there's really no point carrying a trade in case you can not specify a stop loss amount. The stop loss amount exists to let you know that you are incorrect and that you should a)shut the commerce or b)reverse and close. Maybe you should think of the stop loss amount within an area where you wouldn't enjoy the price to proceed. If you are interested in finding a shorting chance then I gather you have a level in mind after which you wouldn't short anymore, where you would be uncomfortable carrying a brief position. Or perhaps...
    Thanks for your article.

    You right about the stoploss, I'll write it down.
    The method is based upon the camarillo pivots. The lines are a fantastic indiion where price can go to. Occasionally when I am wrong, by including a position at certain level you've got the opportunity to get out at BE or with a little loss. The majority of the time that it occurs, but my difficulty is that I do not get from the transaction, hoping to gain more from the transaction. And it goes wrong.
    But I will try to determine the stoploss before choosing a transaction. Exchange with lotsizes is a fantastic idea.

    I will also try this technique on Fiber, to see if its suitable.

    Thanks again.



    Btw: looks like forum Is Actually slow, had to type some posts twice

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