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"Just Oil"

Chikot
Apr 12 2012 at 17:25
2299 posts
the one who told this doing very well.
what he meant is that trader should not give up but work on his trading and mental state.


   xenon posted:
   agree about the trader mind.

but the strongest mental man can not trade with cont loosing. it breaks at some point.
so they both has to come togather.



   Chikot posted:
   Steve, it refers to trader developing like a trader and not giving up despite on set backs. it is not about markets... it is about trader's mind.


   xenon posted:
   good words!

but there is a but;

think that way, if you are marketer you can discuss with your client and you can bring him to your idea. but in the market there is no such chance. will power can not effect market itself(client) in trading. So we need a referance point to trade. I think this must me most common tool that used by most of the traders to find a common point. it can be MA s or some other tools. but should be as simple as possible. then will power will effect our desecions according that ref point.

walker



Chikot
Apr 28 2012 at 09:39
2299 posts
keep watching and trade when can. do it however form 4 h charts when I can. 2 months left.

Chikot
May 19 2012 at 16:28
2299 posts
The time is drawing near. I keep demo trading swing trading only from 4H. So far so good. The first time ever I am going somewhere with positive results trading longer term not day trading.
Just learned that Oanda again can be connected to myfxbook. so, most probably I am going back to Oanda as it provides good money management possibilities for my account size unlike MT4 brokers.
For example. Minimum size is $0.01 on MT4. when i trade e/u , a/u or g/u it might be no problem, also stops might differ. But when i take E/J trade not only stop tends to be considerably bigger but pair is also more expensive and I cannot reduce per pips size accordingly. Hence winning 100 pips on e/u constituting R;R 2:1 which is my usual goal will be negated by say 70-80 pips loss on E/J where it will also be 2:1 R:R but with different stop and goal sizes. Not to mention that even $1000 is a very small account with $0.01 minimum sizing. With Oanda even small account has absolute control of position sizing. I do not like the fact that they increase spread around news but having under capitalized account is much worse.
So, at the end of June beginning of July the show will start again and I will resume building my trading record. This time I will most probably have enough time for long enough to move forward with my trading career.

Chikot
May 25 2012 at 16:53
2299 posts
Things are going not so bad. I am positive so far but mistakes caused account to go up and down and I should not have taken about half of losing trades cause signals was not there yet. was right directionally but wrong with timing. anyway, because I was following my rules I finally got on this last big move down. closed 2 trades out of 4 too early which cut profit by 5%. all trades went to target 100+ pips. I am in preparation mode. The most important now is to stay away until I see that tide is reversing to move again with a trend. i trade only along the trend unless I have 3 very strong indications that trend is up for reversal or there is good chance of reaction against the trend . If I went with a trend and lost, I do not take opposite direction, I wait again to enter along the trend. what I can say that trend is truly is our friend. I am currently flat, waiting for what market will be doing next week.
overall, I should have been 2.5-3 times more profitable now this months had I passed few trades and let trades run to my target on those few that I closed too early. in any case my average winner is 2.2 times larger than my average loser.
Getting ready for live trading starting July.

Chikot
May 26 2012 at 00:00
2299 posts
gotta be ready for chop chop aka. whipsaw too.

Chikot
Jun 02 2012 at 00:32
2299 posts
Ok, as only one month has left before I go live again I decided to start posting my demo trading to add some hit to myself.
I am not day trading as I have no time and I am not going to day trade when i go live.
One account I trade from 4H charts with an eye on daily/weekly charts as well and second I am learning to trend trade and make speculative trades from daily charts.
First account everything is clear I have target in most cases 2:1 R:R and I am mostly trade 4 pairs: E/U, G/U, A/U and E/J. Second long term account I am learning and watching 10+ pairs. The most important is how to exit profitable trades as stop loss is taking care of losing trades but how to exit profitable ones. I am not a fan of partial scaling out. I am in learning process. I think that small profit may be taken once trade very well in profit to get some funds into account but most of the position must run until the signal comes that trend is over.
Two demos are added and connected to myfxbook.

Chikot
Jun 05 2012 at 08:48
2299 posts
Ouch. should have got up earlier.

stevewalker
stevewalker
Jun 07 2012 at 13:45
1439 posts
as soon as you publish your account you start making mistakes. I had the same issue. really strange. When I start publishing account I destroy it.

%51 of trading is mental.

Chikot
Jun 07 2012 at 16:32
2299 posts
Steve, no mental issues. Just mistakes. been relying too much on daily chart expecting further drop and I still think it is going to drop. I need to point that my balance on MT4 is only $520 that I trade now. I cannot take proper sized positions... it is nothing as when i start trading live from Oanda I will risk 0.5% on 4H swing trades. here I need to put reasonable stops but minimum size is still $0.01. You see the point. also, you are watching only one account, another one, long term trend following on daily is doing fine, but that strategy has set of rules which I follow. 4H swing is too subjective. I am thinking of entering only one rule. since now on. I am not going against ema's cross. always along on 4H. if I lose current trades next ones will be only along the cross. Mentally I am more than fine. I will also have more time since July, so I have no worries.

stevewalker
stevewalker
Jun 07 2012 at 16:37
1439 posts
Chikot

I did not say you are doing bad. I mentioned about the publishing account.
I dont discuss your trading capabilities.

but publishing is putting more pressure.

walker

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