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talisker trader's profile



Name talisker

2014 is my sixth year of trading spot fx. I started in 2008. I learned how to trade in about 2 weeks, and have spent the remaining time unstitching everything I learned in those first two weeks.

After a final leap in and out of the futures market - blowing up a 10k account trading ES on the CME, I have finally resigned myself to trading spot fx for the rest of my life.

I finally understand my own style. I finally get who I am as a trader. I finally know how I (as an individual) can make money trading currencies.

Trading style:
It's slow and has taken years of filtering out every other method to finally realise that it is possible to make money, but I have to stick to my very basic, simple plan.

Lessons I have learn't in 6 years of trading:

1. Stay in the game

2. Don't over leverage yourself. Ever.

3. It's all in the mind.

4. The shorter the time frame you trade, the less money you will make.

5. It's not the price that kills you, its the size.

6. Split your trade up into pieces and space it out over a wide area. You can still make money doing that.

Some of the quotes I live by:

1. Traders who can be right and sit tight are uncommon in this business.

2. To make money you have to hold a position with conviction - Bruce Kovner (that is so f****** true!)

3. It matters that you don't give up - Stephen Hawkins

4. When the student is ready, the master appears - Chinese Proverb

5. You always need a catalyst to make things happen - Jim Rogers

6. All hopes of progress lie with the unreasonable man - Irvine Sellar

7. "So they built too many houses... Don't destroy the entire economy over it" - Hedge fund manager talking about Spain.

Everyone has a plan until they get punched in the mouth - Mike Tyson

Experience More than 5 years

Location uk

Vouchers 0

Registered May 11 2014 at 16:28

Blocked users 0


Systems by talisker

Name Gain Drawdown Pips Trading Leverage Type
Talisker -4.00% 27.47% 626.3 Manual 1:400 Real
in Talisker May 18 2014 at 06:26
talisker Jul 02 2014 at 09:50
Wednesday July 2nd 2014.

Market has been quiet for me over the last two weeks. In the past I would have tried to "press the market". What I mean by this is after a profitable period there is a tendency to not accept that the market is not going your way at the moment. You then start forcing trades and get yourself in a mess. This leads to anger and then ultimate the loss of money.

The trick is to let go and run with it. I'm look for one of 2 things. Either a move up to 1.8247 is to add my next position, or a move south of 1.8000. I care not which happens first. The reason it is easy for me not to care is that every day this continues I earn back rollover which starts to slowly eat away at the loss. It is slow, yet at the same time extremely powerful. This is for 2 reasons. 1) I am earning money on the rollover 2) it takes away that desire to "press the market".
talisker Jun 09 2014 at 06:56
Sunday Evening... Market just opening.

Last week was rather slow and dull for me. Looking ahead I'm starting to feel that some kind of large move is about to start. 3 inside weeks in GBPAUD, that is quite significant.

I didn't really make any money last week. In the past I would have become very frustrated with this and tried to 'force' a trade. However, sitting here now, I look back and am pleased with the inactivity. Sitting back and literally doing nothing is usually as powerful as making lots of trades in and out. I adapted to the market dynamic.

My guess is this week will see the beginning of a directional move. And that is perfect. I really care not which way it goes. If it heads south I will try to stay in my position as long as possible. If it goes up, then I will be in a really strong place to begin building my long term position to see me through to the end of the year.

3 inside weeks is a stern indication we are about to kick off..... bring it on!
talisker Jun 02 2014 at 06:29
Sunday evening. Another week ahead.

I go into this week with an open position.

My extra funding was added last Wednesday and now all positions will be 10k mini lots as opposed to 1k micro lots.

The texture of the market is quite strange at the moment. I feel big moves out be possible over the summer time (given the lighter volumes). That could mean decent retraces when the big traders come back in September. S&P is super high at the moment and the euro is looking like it is about to fall off a cliff.

However the week pans out, I have my plan in place and will trade it accordingly.

Wishing everyone on here a successful week trading.
talisker May 26 2014 at 06:38
Sunday Evening. Getting ready for the week. Will what the open in an hours time.

Money has been transferred into my account but it seems that there isn't anything swift about the "SWIFT" international payments system.

Best guess is that my extra funding will be there on the 28th. So just chipping out a couple more small trades before then.

Looking forward to a good few weeks ahead before September.
talisker May 12 2014 at 06:37
Getting ready for the week ahead
talisker May 19 2014 at 06:30
No trades in the market for me as I watch the opening. I am scaling my account up this week. Funding 9k from my bank. Therefore I won't be taking any positions until the money I transferred. I imagine that I will start building a new trade by the end of this week. Maybe Thursday or Friday.