psymon's Posts | Myfxbook

$25 to $25k in 10 days in Trading Systems May 17, 2011 at 03:24

Hey guys, I've been doing some pretty heavy introspection in the last day, and trying to figure out why i am not trading to my best. I've found the questions to the answer but not the answers to the problems! It all gets a little psyco from here... I have for some time felt like i must be losing for a reason other than my ability to read charts. It seems to me that i am a victim of self-sabotage. From everything thing that i've read the last couple of days I have possibly over the course of my life picked up several limiting beliefs. they could come from from my parents saying thin...

$25 to $25k in 10 days in Trading Systems May 16, 2011 at 10:25

Hey pip, thanks for the kind words, really if i was that good this would have been done weeks ago! i am finding that my brain cant react to the market fast enough to make a decision! I should be able to assess the market, modify/place a trade, and then reassess in seconds, but its taking me minuets and by then its all ready gone too far.See the thing is that i'm only proving that i can throw away $25 a week on this idea, the last 2 weeks i've not gotten past the second step. Its amazingly frustrating, i know what i should be doing, but i'm hesitating. Usually if your wrong about a ...

$25 to $25k in 10 days in Trading Systems May 16, 2011 at 01:21

Morning, a slight change in strategy. I feel like i'm trying to run before i can crawl, so for this week i'm going to drop the only 10 trades. Heres the thing, as much as 10 trades in 10 days is perfect i have come to the conclusion that just doing it in 10 days is hard enough! I've been doing some heavy back testing this weekend and i am finding the success rate considerably higher if i allow my self to take 2 or 3 trades per step. $ vol tradesie, 25 - 50$ .1 (10+15) = 2 trades 50 - 100$ .2 (7+12+6) = 3 trades etc etcI will still have the 25 pip target i...

$25 to $25k in 10 days in Trading Systems May 16, 2011 at 00:53

Hi Rod, i hope you can take something away from this thread and apply it, if you have any questions please ask away...

$25 to $25k in 10 days in Trading Systems May 14, 2011 at 15:46

so what your saying is that i've got to do it twice?thanks and have a good weekend.psy

$200 to $1,000,00?0 in New Traders May 14, 2011 at 11:09

if you can make 25 pips every day thats around 2500 pips in 5 months, at a $ a pip that would give you a profit of $2500...

$25 to $25k in 10 days in Trading Systems May 14, 2011 at 10:57

@ pip, er... thanks for the input, its just kinda a hard one to get my head around! er... to put into simple terms what your saying is trade anything, wait, if negative get out asap, if positive let it run locking in profits?so decide on limits of loss that are acceptable, then assume that probability will make you profitable when you let gains run?intriguing.if i have a little of your attention, may i ask a couple of questions? (yeah it was rhetorical)how do i cure self sabotage?do you think that this is possible, $25 to $25k in 10 days in 10 trades?where could i get a coin that you toss?thx

$25 to $25k in 10 days in Trading Systems May 14, 2011 at 05:13

one more try, cause i think that its worth it...

$25 to $25k in 10 days in Trading Systems May 14, 2011 at 05:05

@PipGnostic bahahahah the hall of shame charts! i hope that everyone goes though the process of loading up a chart to exploding point, then paring it back to something thats actually workable? or is it just me having a brain fart?sorry and trying to post the stoch indicator, but its not up loading...

$25 to $25k in 10 days in Trading Systems May 13, 2011 at 11:46

holy crap, i've just had a look at the chart i gave birth to last night! holy crap, here is a some what more sensible chart set up !

Why I'm Proud of Myself (Now) in New Traders May 13, 2011 at 10:44

Hey buddy,Its probably not a great thing for you to hear, but i'm gona tell you anyways! its so good for me to find someone else with exactly the same problems as me! it feels like everything is falling into place and for a couple of days / a week, everything works just so! then for no explicable reason it all falls apart! i'll be damned if i can figure it out!if you figure it out pls gimme a shout and let me know what worked for you?\keep your chin uppsy

$25 to $25k in 10 days in Trading Systems May 13, 2011 at 01:11

Hey Pip, thanks for the kind words :)over the last couple of days i've been refining my chart setup, i've included a new screen shot, and some new indicators, all of the settings are the same.I'm just looking for a suitable strength indicator, looking for exactly 25 pip moves has always meant filtering out the strength, using rsi just isn't cutting it for me so i'm gona find something that does! came close yesterday but its still not what i want... i'll keep you updated :) on on...

$25 to $25k in 10 days in Trading Systems May 12, 2011 at 03:34

@horacioo, not at all my good man! the only person responsible for each of my trades is me.when i'm trading i need to be in a certain mindset, the only way i can describe it is having a kind of clarity, the last 2 weeks i have been all over the place, and as you can see i'm allowing it to affect my trading.when i make a decision and its wrong there is always a reason for it, this time i didn't include the longer time frame charts, I was too focused on the short term trend line and i 'expected' there to be a third bounce, instead of checking all of my charts i got fixated on...

$25 to $25k in 10 days in Trading Systems May 11, 2011 at 14:51

doh!

$25 to $25k in 10 days in Trading Systems May 11, 2011 at 04:11

put a long trade on this morning, but it didn't seem to have the legs so i pulled the plug! new addition to the strategy, sl to entry when 10 pips is reached, just to reduce risk. more and more this little thing we have is looking like a full risk averse strategy...

$25 to $25k in 10 days in Trading Systems May 10, 2011 at 10:26

I'm pretty good and hungover today! see ya'll tomorrow for some fun 😉

$25 to $25k in 10 days in Trading Systems May 09, 2011 at 03:44

yup thats about the sum of it! the vertical blue lines are trade entry's! that's some good detective work :)just waiting for my broker to transfer over another $25 and i'll be looking for a position on the AUDUSD in the next couple of hours... here's to a great week for allpsy

$25 to $25k in 10 days in Trading Systems May 08, 2011 at 04:24

Hey Guys, That sounds amazing.I've started to write down every single rule that i can think of for this system, as soon as its done i'll pm both of you and send you what i have, unfortunately I've never even thought about having a system coded, so your going to have to treat me like a 3rd grader and layout what you need from me in real simple terms 😳, what i can do is show past trades, highlight the indicator signals and my thinking behind each trade?i've attached the indicators that i use, i'm sure that there are better versions out there and i'm always looking...

$25 to $25k in 10 days in Trading Systems May 08, 2011 at 00:58

Hey, I wouldn't even know where to begin with how to write down the rules! let alone code it, part of my system is in my head! the discretion and experience of the trader is still needed to evaluate the setup, and i use multiple charts for confirmation, which i understand would be difficult to code?but maybe thats not a bad idea. do you know anyone who in could talk to about coding it?psy

$25 to $25k in 10 days in Trading Systems May 07, 2011 at 15:19

I've just completed my trade analysis for last week. and i know where i F#%$ed up. its not the indicators giving fake signals its the human reading them wrong. the two mistakes i made last week cost just under 6400. i've made the corrections to my mind set and am ready for the week ahead.Let there be no more mistakes...

All Quotes
AUDUSD	0.653	USDCHF	0.9147
EURJPY	169.15	EURCHF	0.9785
EURGBP	0.8563	GBPJPY	197.36
EURUSD	1.0699	GBPUSD	1.2487
USDJPY	158.04	USDCAD	1.3679

EURUSD	1.0699	GBPUSD	1.2487
USDJPY	158.04	USDCAD	1.3679

Posts by psymon