Trading Forex

[BackInTheGame78]

That’s entire day was risk, all day long. Let’s say Russia does something dumb, you don’t have a single dealer supporting that pair, it’s you and your broker and now your pair is 1000 pips wide. You’re doing good but this is crucial to think about. Don’t trade when the big boys aren’t trading.

Fair point...currently I'm only trading small amounts in my own account and am more focused on getting funded...there I am trading futures, mostly metals and agriculture

 

[Divorced w 3]

Fair point...currently I'm only trading small amounts in my own account and am more focused on getting funded...there I am trading futures, mostly metals and agriculture

That’s awesome but when our guy earlier says two weeks does not make a difference this is what he meant. One day could not only blow you out for the month it could have taken your drawdown line with it. That’s all. Trust me on this.

 

[jaygreenb]

Yes that's because most of them are not disciplined, don't really have any system or rules they follow and revenge trade like MOFO's if they start losing instead of setting a daily loss limit and then walking away for the day like I do.

They also swing big and miss big instead of taking layups, using good risk management and making $200 5 times to make $1000 instead of trying to make $1000 in a single trade opening you up to a big loss as well if you get stopped out.

In addition, it's pretty amazing how many have no idea about concepts like order blocks, liquidity and even basic things like market structure, change of character and break of structure concepts. Without those they might as well be gambling.

I've worked my fvcking ass off to improve, learn, live and breathe these not only when I am studying it but also I can almost instantly see them live on charts. THAT'S where you need to be able to see it...live in action. Until you can do that, knowing the concepts won't help because you won't be able to see how it plays out after on the chart until after you have to act.

Basically, if I want to do something, I literally become obsessed with it and work exceptionally hard and am relentless in pursuit of it. I take my lumps and I learn from my mistakes and tend not to make the same ones twice. I'm probably not the person you want to bet against.

It's funny because people have been doing it my whole life telling me what I can't do or will never happen and there is nothing I take more pleasure in using that as jet fuel and lighting a match and then burying them and letting them know about it.

Just like I was told at age 40 that nobody would hire me as a software engineer with no professional experience, no computer science degree and was laughed out of multiple IT recruiter offices. Did I let that stop me? Hell no...I worked even harder, found a job myself, impressed the hell out of the entire development team and IT manager with how much I knew and learned on my own, how many college classes I took on my own thru EdX.com and how passionate I was about it. I got hired on the spot and within 4 years I tripled my salary and reached senior software engineer, switching jobs 2 times in the process.

So if you want to make damned sure that I make it and make it big, keep doubting me. I will take great pleasure in posting my PL's for you to see.

I'm almost $3800 of the way to $6000 and I've used exactly $39 of my $3000 trailing drawdown.

Meaning I am 62.5% of the way to my goal and have used 1.3% of my drawdown. I would have to really, really F up pretty bad to blow that drawdown before hitting my profit goal.

Was +500 Friday, and would have once again been up much more if not for my paper hands in trades. But it does have the nice effect of almost never triggering a trailing drawdown since I am getting out of the trade at its highest point many times.

I am only going to say this because I like you and want to see you do well. The biggest thing that is going to hold you back is your EGO. You have been doing the full bravado I'm always right, I know what I'm doing for years now. Look at these posts from 2021, basically word for word on you can't tell me nothing, I know what I am doing. You are doing yourself a great disservice by over estimating your abilities and not taking in the advice from those who have experience and been there before. You do not always have to have all the answers but when you lack the self awareness that you think you do, that is when you really get yourself in trouble

That's because they don't take the time to understand the technical analysis, understand chart patterns, and know the general market trends. Right now, I probably wouldn't be trying it...the altcoins are exploding or getting ready to. In a consolidation pattern? All day long. Easy money. Easy share accumulation.

I am a software engineer, this fits perfectly with how I think. When you see it trading between support and resistance and there has not been any breakout, it's pretty easy to do it.

Am I wrong sometimes? Sure...but the one thing in crypto is that it will always come back to test resistance at some point so you just be patient and wait for it to drop to you. It might only test it quickly before taking off again, but it will test it.

People think about it wrongly. They think dollars instead of shares/coins. Anytime you sell and buy back lower you end up with more shares/coins. It is simple math. Doesn't matter what the starting point was.

When you do it via major corrections, you are going to gain a boatload of shares.

There is absolutely no reason to be holding something when you know it is going to drop by a large amount when you can sell and buy back lower.

Where are the bitcoin lovers now?

Good buy opportunity for anyone looking to jump in

www.sosuave.net

 

[BackInTheGame78]

I am only going to say this because I like you and want to see you do well. The biggest thing that is going to hold you back is your EGO. You have been doing the full bravado I'm always right, I know what I'm doing for years now. Look at these posts from 2021, basically word for word on you can't tell me nothing, I know what I am doing. You are doing yourself a great disservice by over estimating your abilities and not taking in the advice from those who have experience and been there before. You do not always have to have all the answers but when you lack the self awareness that you think you do, that is when you really get yourself in trouble

Where are the bitcoin lovers now?

Good buy opportunity for anyone looking to jump in

www.sosuave.net

I appreciate what you are saying and I definitely have learned a lot from 2021. The thing is that I know I don't have all the answers yet, nobody really does, but I have got enough of them to be really good on the setups that I take, which are limited, granted.

The bravado isn't coming from a place of me thinking I know it all. It's coming from a place of confidence in myself that whatever I set my mind to do I succeed at. It's been like that my entire life.

Mostly because I work my fvcking ass off. While other people are watching Netflix or movies or going out to bars, I am sitting at home watching videos pertaining to price action trading or entries/exits, or whatever else I feel I need to work on, reading books, studying chart patterns or going thru bar replays of my trades and journaling what I could do better. While other people are driving listening to the radio, I am streaming videos to listen to about trading.

I have begun to eat, sleep, breathe and live this every day, all day, not just while I am trading. The obsessiveness in which I approach things and my relentless pursuit of those leads to my ultimate success, not because I don't fail a bunch of times in the process. I fall down and I pick myself right back up, dust myself off and keep moving towards the goal. I don't really care how often I fail as long as I don't fail the same way over and over again. Fail once, try again. Fail again, fail different, fail better. Try again. Over and over and over until I finally start succeeding more than I fail and then start succeeding a LOT more than I fail.

My girlfriend even helps me by setting random bar replays on things and then turns the laptop around and then I have to guess the direction and set entry/exit points on the trade I would take. Even if it's not something I would take, I still have to guess the direction.

There are probably a lot of good setups that I am missing. I acknowledge that. But the ones I take are mostly layups now and the biggest issue I have is my in trade management of them.

My discipline to stay out of trades I don't like is very high. I am no longer impulsive, I don't revenge trade, I set a daily loss limit and if I hit it I spend the rest of the day analyzing where I went wrong.

My discipline to wait for confirmation thru candle close and volume to avoid being trapped in fakeouts is very high . However, I am "Edward Paperhands" when I am in a trade.

That's what I need to work on the most right now. That would take my trading to the next level. I win 70-75% of my trades, should be 80% but I took a few L's that would have turned into big wins if I was a little more patient.

Currently at a little over $4,100, +400 today and close to 70% of my profit target of 6K.

Drawdown is still only $39 out of $3000 allowed so I am in great shape there.

I am still a work in progress but I am getting better every day.