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stevewalker - Manual Trading

stevewalker
stevewalker
Jun 07 2012 at 13:57
1439 ieraksti
Hi all,

here at this thread I will post my experinece about manual trading.

I have alot. Believe me.

walker


stevewalker
stevewalker
Jun 07 2012 at 14:29
1439 ieraksti
components of manual trading;

- %33 Mental
- %33 System
- %33 Dicipline
- %33 Patient

there is something strange. isnt it?

total is bigger then %100

yes it is.

if you want to become a succesfull manual trader you will need more then %100
if one is missing you will fail.

this is the first rule.

walker

stevewalker
stevewalker
Jun 07 2012 at 16:55
1439 ieraksti
lets start with the wright thing.







Benjamin Nathan (BenNathan)
Jun 08 2012 at 10:52
23 ieraksti
Manual trading for me is far more powerful - we can use perception to decide whether or not current conditions are right for a trade within our strategy.... although the downfall is this perception can also be our enemy.... Trend is our Friend!

LOW RISK + HIGH PROBABILITY = REWARD
stevewalker
stevewalker
Jun 08 2012 at 14:26
1439 ieraksti
Thank you for input

Manual/Automated depending on the trader. for me the best is Hybrid(SemiAutomated) Better sides of each.

walker


   BenNathan posted:
   Manual trading for me is far more powerful - we can use perception to decide whether or not current conditions are right for a trade within our strategy.... although the downfall is this perception can also be our enemy.... Trend is our Friend!

stevewalker
stevewalker
Jun 08 2012 at 14:27
1439 ieraksti
LK Wong
lkwong
Jun 09 2012 at 09:20
71 ieraksti
I love your chapter 3. The one word describes everything.

stevewalker
stevewalker
Jun 09 2012 at 10:45
1439 ieraksti
it is the headline.
details will follow.😁


   lkwong posted:
   I love your chapter 3. The one word describes everything.

stevewalker
stevewalker
Jun 09 2012 at 10:59
1439 ieraksti
Chapter 3: Dicipline

Self-discipline
Self-discipline can be defined as the ability to motivate oneself in spite of a negative emotional state. Qualities associated with self-discipline include willpower, hard work, and persistence.
Self-discipline is the product of persisted willpower. Whereas willpower is the strength and ability to carryout a certain task, self-discipline is the ability to use it routinely and even automatically (as if through reflex). An analogy for the relationship between the two might be defined as follows: Where willpower is the muscle, self-discipline is the structured thought that controls that muscle. In most places it is believed self discipline is the ultimate path to success.
source: https://en.wikipedia.org/wiki/Discipline

the root is willpower.

on trading everthing changes very fast. it is important to make same desecions in every condition.

think that way.
the combination of 2 values lets say 3:5 is much more then 1:5

at that point we should lower the total combination. as a trader we can not change the market. so this is out of our control. what we can change is ourselves.

if we keep making always the same desecions the combinations will dramaticly be lower then the other option.
to do this we should disicpilne ourselves to make always the same desecions. the root for this is the willpower.

to be succesfull there should be as les as details to make desecions on.

to be continioud.........

stevewalker
stevewalker
Jun 15 2012 at 11:19
1439 ieraksti
buyers are pushing really hard to return EU long.

a very painfull bear trap!!

stevewalker
stevewalker
Jun 15 2012 at 12:00
1439 ieraksti
stevewalker
stevewalker
Jun 15 2012 at 12:43
1439 ieraksti
''trap' fail' failed!!!

EU holding 1.2600

stevewalker
stevewalker
Jun 16 2012 at 07:00
1439 ieraksti
here is an example;

assume that your trading system based on MA 30.
you buy when price over MA 30
you sell when price below MA 30

there is only 2 poss.
but if you break your rule you have 2 more poss. which is reverse.

so if you stick to your plan you have only 2 poss.
if not then you have 4 poss.

now lets assume that your trading system based on 2 MA s . MA 12 and MA 30
you buy when price over MA 12 & MA 12 over MA 30
and vice verse for short

you again have 2 poss if you stick to your plan.
but if not..............
calculate the poss you have.!!!!

so dicipline is the key of succesful trading by doing always the same.
or you have endless poss. and endless loss.



   stevewalker posted:
   Chapter 3: Dicipline

Self-discipline
Self-discipline can be defined as the ability to motivate oneself in spite of a negative emotional state. Qualities associated with self-discipline include willpower, hard work, and persistence.
Self-discipline is the product of persisted willpower. Whereas willpower is the strength and ability to carryout a certain task, self-discipline is the ability to use it routinely and even automatically (as if through reflex). An analogy for the relationship between the two might be defined as follows: Where willpower is the muscle, self-discipline is the structured thought that controls that muscle. In most places it is believed self discipline is the ultimate path to success.
source: https://en.wikipedia.org/wiki/Discipline

the root is willpower.

on trading everthing changes very fast. it is important to make same desecions in every condition.

think that way.
the combination of 2 values lets say 3:5 is much more then 1:5

at that point we should lower the total combination. as a trader we can not change the market. so this is out of our control. what we can change is ourselves.

if we keep making always the same desecions the combinations will dramaticly be lower then the other option.
to do this we should disicpilne ourselves to make always the same desecions. the root for this is the willpower.

to be succesfull there should be as les as details to make desecions on.

to be continioud.........


stevewalker
stevewalker
Jun 17 2012 at 11:00
1439 ieraksti
below Ph of the day from my old thread. %80 I did overcome that Ph.

but at the same time I had created another one with lower frequency.

which is;

Phsycology(Ph) of a trading account:

1- start of an account:
with every start I afraid of having loosers but also feel confident that Patterns works well.

2- first days:
when start trading with new account I do not think very deep and trade the patterns I should. this system carry me to a good profit level.

3- trading with an account in good profit with very low %DD.
at that stage I want to keep my profit and strat cut my winners short and run my loosers long until SL which on most of them I should exit before SL.

4- start loosing the profit.
when strat loosing profit and come down to initial deposit I get angry to my self and strat trading extreemly aggresive to get back the same level in 1 day which I had that level in 3 days before. and this bring more loss.

5- loosing loop.
now I am in loosing loop. trying to be more stable and trying to keep the profit is taking all proft + initial deposit away.

6- account destroyed
at the end I destroy the account.

now I should overcome that period as I did daily loop.

walker




Phsycology(Ph) of a trading day:

1- start of a day:
with every start I afraid of having loosers but also feel confident that Patterns works well.

2- first trades:
with every start most probably I had my daily goal in a very short period of time. Just watching and catching the patterns. entering trades and exit if necessery even in loss.

3 - daily goal achived:
this is the first break point of the day. after having achived the daily goal Ph changes. from that point I start finding reasons to NOT ENTER the new trades. because daily goal achived and the fear of loosing that is putting more pressure.

4- missing new winners:
the result of nr3 I start missing many winners. and this make me stressed and got angry to myself. that point is the second break point of the day.

5- finding reasons to enter new trades:
at that point I start FINDING reasons to enter trades. due I had missed some winners and now I must fill that gap in my mind. WHY NOT %5 instead of %1 or %2.

6- entering wrong trades:
now I had find the reasons to enter trades just %100 opposite of nr3. those are not exectly what I am looking for. I am just trying the fill the missed gap immediatelly and making wrong desecions. the another reason for this is the Rescue plan. at the backstage of my mind I know that I have rescue plan and this will rescue me if I take a wrong one.

7- Rescue:
as a result I enter wrong trades and those goes against me. at that point instead of exiting the trade at a certain point I keep loosing and start the rescue plan. ( this loose most probably is the result of a very fast price action/spike )

8- Back to start Ph:
when the afraid happens mind reset logic and start trading normal again. at the rescue stage I trade other pairs and make good profit.

8- end of the day:
most probably the rescue plan works ( you can call this basket or grid trading ) and day has saved.

Almira Hunter (maifx)
Jun 18 2012 at 19:07
8 ieraksti
I highly recommended this book, The Forex Mindset by Jared F. Martinez. It's all about controlling your emotions when trading. This book has changed me, and my pip results as well. Good luck!

Protect Yourself At All Times!
stevewalker
stevewalker
Jun 18 2012 at 20:29
1439 ieraksti
thank you for input.

really appriciated.
will give a try.

thanks
walker


   maifx posted:
   I highly recommended this book, The Forex Mindset by Jared F. Martinez. It's all about controlling your emotions when trading. This book has changed me, and my pip results as well. Good luck!

stevewalker
stevewalker
Jun 18 2012 at 21:05
1439 ieraksti
another example;

changing the lot size.

this is one of my favor.😕
one of the biggest mistakes can ever be done.

Lot size MUST not be changed in any condition execpt if trader has MM plan.

or market WILL disicpline trader.
I dont say 'may' I say 'will'. a very soon 'WILL'.




   stevewalker posted:
   here is an example;

assume that your trading system based on MA 30.
you buy when price over MA 30
you sell when price below MA 30

there is only 2 poss.
but if you break your rule you have 2 more poss. which is reverse.

so if you stick to your plan you have only 2 poss.
if not then you have 4 poss.

now lets assume that your trading system based on 2 MA s . MA 12 and MA 30
you buy when price over MA 12 & MA 12 over MA 30
and vice verse for short

you again have 2 poss if you stick to your plan.
but if not..............
calculate the poss you have.!!!!

so dicipline is the key of succesful trading by doing always the same.
or you have endless poss. and endless loss.



   stevewalker posted:
   Chapter 3: Dicipline

Self-discipline
Self-discipline can be defined as the ability to motivate oneself in spite of a negative emotional state. Qualities associated with self-discipline include willpower, hard work, and persistence.
Self-discipline is the product of persisted willpower. Whereas willpower is the strength and ability to carryout a certain task, self-discipline is the ability to use it routinely and even automatically (as if through reflex). An analogy for the relationship between the two might be defined as follows: Where willpower is the muscle, self-discipline is the structured thought that controls that muscle. In most places it is believed self discipline is the ultimate path to success.
source: https://en.wikipedia.org/wiki/Discipline

the root is willpower.

on trading everthing changes very fast. it is important to make same desecions in every condition.

think that way.
the combination of 2 values lets say 3:5 is much more then 1:5

at that point we should lower the total combination. as a trader we can not change the market. so this is out of our control. what we can change is ourselves.

if we keep making always the same desecions the combinations will dramaticly be lower then the other option.
to do this we should disicpilne ourselves to make always the same desecions. the root for this is the willpower.

to be succesfull there should be as les as details to make desecions on.

to be continioud.........



Chikot
Jun 19 2012 at 00:23
2299 ieraksti
I am still long but in DD on this pair. no signal to close trade.

Chikot
Jun 19 2012 at 00:28
2299 ieraksti
generally ema's cross is only signal to start watching for entries, not signal to enter trade or you mean exactly that 2 ema's cross and you enter?

stevewalker
stevewalker
Jun 19 2012 at 00:52
1439 ieraksti
just an example.

it would be very easy.

I guess in 80s that could work. but not now😉


   Chikot posted:
   generally ema's cross is only signal to start watching for entries, not signal to enter trade or you mean exactly that 2 ema's cross and you enter?

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