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new trader - HELLO! and help
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callenaw

Пользователь с Jan 05, 2012  25 сообщений Callen Aw (callenaw) Jan 12 2012 at 20:47
Guys!

I'm new here and new to trading. Hello to you :)

I'm not sure how this works but look - seems like I'm not trading the jedi way.

I ran my account down and up to ~ 30% for the first month. Not sure if it's overconfidence but very sure it's psychology that cause my account to dive -50% within the next 2 months!

To be honest, I'm raped and still trying to overcome the traumas, trying to stay positive everyday. Since the massive drawdowns, I can't seem to get my account back to green or a retracement. I'm clearly in a downtrend waiting for a double bottom hoping to rally. Help me, Smart Traders!

I've still have faith in my system. I've reduce my lot size, SL reading psychology books as I find myself overtrading especially when I occur a loss. I'm also afraid to miss an opportunity, trying to get into every available setups. Maybe it's because I've experienced 100 over pips in a trade within an hour. I tend to be impatient when I know trading is about patience.

I don't know how this work but I'm happy I've setup this account in myfxbook and look forward to play a part in this huge family. I would appreciate your time looking at my stats and commenting on my work, however bad it is. I welcome all comments to help me a better lifelong trader.

Thank you and may pips fill your pockets :)

http://www.myfxbook.com/members/callenaw/callen-trading-inc/221043

Let the market come to you
jasonryanforex

Пользователь с Nov 04, 2011  6 сообщений Jason Ryan (jasonryanforex) Jan 13 2012 at 05:59
Hi Callen,

Welcome to the world of Forex Trading. Don't beat yourself up too much, every trader has been through what you're experiencing now. Don't rush your trades, especially when you take a loss. There's always tomorrow to take another trade. You've taken the right step in learning about trading psychology. Good move!

The aim of the forex game is to achieve consistent results. Your first month might have been just a lucky month (beginner's luck perhaps), then December comes and reality sets in. If you want, i can send you a simple money management tool which can help you see exactly what your risks are before taking a trade.

E.g. If you set your risk at 2% for a trade, and the maximum stop loss is 40 pips, the tool will calculate for you how much you stand to lose if the trade doesn't work and MORE importantly, it tells you the size of contract you should be trading based on your equity balance.

After using the money management tool, it gives you a clearer idea in numbers (when you see the numbers in front of you, somehow it helps to better your judgement of whether to take the trade or not.

Anyway, my name is Jason Ryan and i am from Singapore. I've been trading for a number of years now.

If you need any help, just message me here.


Warmest Regards,

Jason Ryan

'The best investment available is to Invest In Yourself'
jasonryanforex

Пользователь с Nov 04, 2011  6 сообщений Jason Ryan (jasonryanforex) Jan 13 2012 at 06:02
Hey,

I just realized you're residing in Singapore too. We can probably meet up one day.


Warmest Regards,

Jason Ryan

'The best investment available is to Invest In Yourself'
callenaw

Пользователь с Jan 05, 2012  25 сообщений Callen Aw (callenaw) Jan 13 2012 at 10:55
Good afternoon Jason Ryan!

Somehow I feel like this is playing the world of Warcraft game. Starting out newbie at a low level and getting help from high level pros like you. Appreciate your time looking through my stats. Sure I'll love a copy of your money management tool and yes we can meet up one day loh.

Trading is a lonely but with a community like this it gains motivation and joy in trading.

Let the market come to you
jasonryanforex

Пользователь с Nov 04, 2011  6 сообщений Jason Ryan (jasonryanforex) Jan 13 2012 at 12:53
Hi Callen,

You can use the money management tool at this url:

http://www.jasonryanmembers.com/forex/riskcalculator.html


Warmest Regards,

Jason Ryan

'The best investment available is to Invest In Yourself'
jasonryanforex

Пользователь с Nov 04, 2011  6 сообщений Jason Ryan (jasonryanforex) Jan 13 2012 at 14:54
You can join our 'New' fund manager account while you're mastering your way in forex trading. Earn some money with us while you trade your own account.

Forex Quick Start™

- Account traded by my team of pro fx traders
- Professional fund manager account with HotForex (broker)
- Low entry level investment of only US$500
- You only pay us if we make money for you

Let me know if you're interested, we can arrange something for you.

We will handle all administrative needs for you from opening of account etc. Very quick approval plus, no deposit fees charged by the broker.

Warmest Regards,

Jason Ryan

'The best investment available is to Invest In Yourself'
byrus

Пользователь с Dec 23, 2011  1 сообщений Павел (byrus) Jan 14 2012 at 23:08
Я посмотрел твой счет и был немного в шоке. Зачем ты столько много сделок делаешь? Если хочешь начать делать прибыль, то лучше уменьши количество сделок до 10 в день. Уменьши количество начальных лотов до 0.10 И не когда не возобновляй в день, если было много убыточных сделок. Мой счет
https://www.myfxbook.com/members/byrus/admiral/213594
------------------------
I looked at your expense, and was a little shocked. Why are you so many deals are you doing? If you want to start making profits, it is better to reduce the number of transactions up to 10 per day. Reduce the number of initial lots to 0.10 and not when it is not renewed in the day, if there was a lot of losing trades. my account
https://www.myfxbook.com/members/byrus/admiral/213594

callenaw

Пользователь с Jan 05, 2012  25 сообщений Callen Aw (callenaw) Jan 15 2012 at 08:55
Sure Jason, will look into it sometime but now my focus have to get myself back on track.

Byrus, I'm trading intraday 5m and can trade up to 10 trades per day. I realised that could be a problem - overtrading thus trying to cut down and only enter on good setups. I've also reduced my lots to .01 / .005 (if SL is more than 35 pips). I am also trying to stop trading and wait for the next session if I encounter 2 consecutive loss. I see you have very good profits for the last 2 months. Congrats and thanks for giving me good pointers!!

Let the market come to you
MarcoItalia

Пользователь с Dec 14, 2011  6 сообщений NELMAR TRADING SOCIETY (MarcoItalia) Jan 24 2012 at 15:21
:) good

on
Splexin

Пользователь с Apr 11, 2011  202 сообщений Splexin Jan 25 2012 at 04:29 (Отредактировано Jan 25 2012 at 04:29 )
In addition to wise money management, I would recommend looking up Mark Douglas, who produces trading psychology materials and coached professional traders for many years-- I have been studying both his books as well as a couple video seminars and they are full of gold. Very helpful stuff that can enlighten newbies and veterans alike.

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