-107 pips
-18%
I don't have much to say about it all. I've put a stop on criminal trading recently and I'm still on the brake if we can call it that way.
Highest point of the month was about +55 pips, but it was made by bad trading anyway, so it all goes in the same basket. I can't talk about my plans because I don't have them now. I'll probably extend this hiatus at least through the summer vacation that is coming in a couple of weeks.
Monday, June 29, 2009
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11 comments:
Hey man,
You should really change your trading style cause it wont get you anywhere. You dont even learn from your mistakes, you are trading everything with or without reason. I dont want to diespoint u but really this will not get you anywhere. My respects for your persistance and courage to post trades here.
Hi Paul, thanks for comment.
I'm in general satisfied with my style of trading with condition that I trade my style and exit at some reasonable stop of less then 20 pips. Problem is in not following this basic idea and breaching discipline with averaging, over leveraging, moving stops and similar behavior.
I really wish you to succed, I still remain to my opinion that you should really think twice about your strategy or more to the fact that you really dont have one, but if you are satisfied with your results then again who am I to argue with that.
I wish you all the best and hope I have not ofended you I only meant an advice.
You didn't offended me and I'm always open for discussion or critique here.
I didn't say that I'm satisfied with my results, so I don't know why you mention it (only if you mean it in sarcastic way). I said that I'm satisfied with my style.
As I said in comment on your blog there is different approach to trading that is not based on few setups and waiting for them. It's all about observing what is going on and interpreting market action. Maybe it's hard to see it on static charts later when I post my trades, but in the moment of the trades that was dynamic reality. It's all nicely explained in this article.
(I didn't link it well on your blog)
Learning to become successful trader
Hey Fx,
No, no sarcasm man, my intentions are not to offend you or something its just that its my opinion that you are not doing it right man. From what I see you do cut your loses fast and that is why you are still here but you are missing some elements to be succesful. Nobody is reading my blog thats why I posted comments on yours.
O.K.
Tell me please what you think about that article that I linked. I totally found explanation for my way of trading there. How do you look at it from perspective of setup trader?
Yes FX what it is written in there is exacctly my opinion also and it does not contradicts at all with setups in the way i understand them. A setup does not mean a trigger because then trading could be mechanical, setups means reading the market, reading the market has to be made in terms of some "handles" or setups or levels if you want. Its very difficult to explain, a setup for me has a broad perspective and it does not trigger a trade in the same way even tough is the same setup. What you fail to understand is that you dont have to have a opinion about the market all the time. Most of the time I have no ideea what to do and the i do nothing while you always try to grasp the market direction while you should wait for the market to tell you something (a setup -aqain does no mean like 30MA crossing 100MA and that triggers a trade -thats stupid). Look at your own winning trades, pick one that you feel that at the time it was so obvious for you what the market will do and try to wait until the price will do the same thing even if not 100% in the same way..thats a setup. Look at the dragon setup described in my link, I only read about it AFTER I discovered it..i mean first I watched the price and saw that when the market has that configuration it is very probably it will have a certain type of response. I used that a long time before reading about it on some site...some people discovered that also, it does not work all the time of course but with a smart maoney management, small loses it only have to work once in a while and it does. Pshyhology is maybe 80% of the game also, the market will make you feel like a good for nothing all the time and if you dont have a reason (plan that includes MM, setups, reasons why should work, defined rules other than setups, a far perspective of results and in the same way the motivation to take it one day at a time). Long story and i`m not the best to teach, I trade but seriously i can`t explain it very well. Most of the time my edge comes from my money management and psyhology I know what I need to do to win, I know when I do things wrong...like this month I overtraded allover the place just because I was better than expected at one point...now I`m worst and i have calmed down. My problem is with winners not with losers most of the ime my mistakes are made after I win big. And righ it says on that link of yours trading is a extremely difficult task not easy like most teachers want to prove to wanna be traders.
I agree with all. It's true it's not all in the setups and you don't have to trade all the time. I just wanted to clear why I trade certain way that looks pretty much random. I base it on my understanding on what is going on at that point of time and that's all. It's not easy to describe it in the blog later and it's not obvious on the chart in retrospect. But that's why I trade because of the news, or because there is no news, all over the place.
I agree that it would be beneficial if it's not so random, but I don't believe that it's the problem with my trading. If and when I trade like that and follow all money management rules than we can talk about my methods. Until I brake discipline and manage losers impulsively I need to address only that.
Anyway thanks on your view and discussion I appreciate it.
btw. I've add your blog on my blogroll
Well, I hope our discution was constructive and I really wish you to succeed and I believe you will sonner or later. Thanks for adding my blog, ill continue reading yours...that will keep one of my enemies (boredom) aside.
Hey FX how's it going?
Are you back in the real work world or are u going to trade and blog again?
Hope all is well.
Hi Soul nice to hear you. I'm in a real work world anyway :)
Currently I'm still at summer vacation it's fourth week now, at least I'm good at enjoying myself. After it I will be busy at work so I don't know will I catch time for trading. I guess that from September things will settle down.
I'm following market here from day to day, on longer time frames just for fun. So I guess that I will be trading again.
Also I'm still reading trading blogs (like yours). I wish you nice blue bars :)
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