Trading Forex

RDK91 said:
Keep an eye on the FED member speeches today and tomorrow, depending on their content they can cause some unpredictable spikes in the market.
More...

were you right or were you right?

not only in the market....... they caused a spike in my account
 
2 hours trading 26 % up....... 300 % up for the week .comments welcome ...but i suspect everyone has put me on ignore.....
nhg3.png
 
padutrader said:
2 hours trading 26 % up....... 300 % up for the week .comments welcome ...but i suspect everyone has put me on ignore.....View attachment 205588
More...

Everyone but me sir.

I have been busy on my own trading, so I am just catching up on your thread.

How can I set it up so when you post I get a notification? For some reason, i do not receive notifications on your thread.

Thanks for sharing
 
nooby_mcnoob said:
I don't understand why people give padu shit for supposedly losing money for 20-40 years.
More...
nooby_mcnoob,

Because these people are stupid and lack humanity. Stupidity and lack of humanity is at an all time high these days.

I admire someone who honestly state their flaws and their progress.

I like padu because he has always responding to my question in honesty and fair comments.
 
padutrader said:
the market is different every day every hour....systems,by definition, will work only part of the time....part time money....

I trade according to the market.....what it is doing...so i get a lot more bang for my buck....

just because i get more return people assume i am taking more risk.....

EDIT:the risk in this method, is in misreading the market....

and the greatest risk is ignorance. and in being blind to market realities."There are none so blind as those who will not see"
More...
padutrader,

I am just catching up on your post. I been gone for awhile.

Man, I love your post. Keep it going and thank you.

Regarding systems.

I agree with you totally. I am computer programmer by skill and education. I have tried to build and test intraday trading systems. My assessment is one intraday trading automated system can not trade the market. The eyes are better.
 
padutrader said:
the main issue with my trading is that i trade by 'instinct' meaning i see the price actiona nd context and it gets automatically processed and action taken.
there is no formal process of steps that are taken every time, before a trade is executed;this leads to sometimes less confidence in the trade.

i am searching for this formal method to improve my confidence and consistency
More...
Hello padutrader,

I was experiencing the same thing, the last time I went live about 4 months ago. I lost about $1200 of cash trading. My entry was not the problem, the problem was my trade management. I did not have a clear, logical way to exit a trade. I knew where I wanted to exit the trade, but I would never exit because I wanted to make more money on the trade. So I discovered my problem was exit at fixed profit target or trail the winner. I stop trading real money, and went back to demo until I fixed this problem and evaluate the results.

IMO, your instinct is your observation of price action context, i think what you mean to say was, you do not have a clear rule based entry method and that was bothering you because the word on the street is "you better have a veryyyyy clear precise entry method and don't break it". Well, I always remeber what Al Brooks says "Get in the trade once context is clear, buy here, buy here . buy here, buy there... doesn't matter, just get in"

So I think that is what you was experiencing. To simplify my life I have one way to enter a trade only.
 
I have been busy all day so this is the first opportunity I have had to check in. Not ignoring! I was a papertrading madman today. I didn't get my paper trading platform running properly until two hours after the market open. I kept getting a "invalid entry time" error or some such. I finally restored to a recent working configuration settings file and then I got busy. Traded until 10 minutes before the closing bell. So I missed the most productive half hour of the day. Lost $513 but I have never done well paper trading. Anyway it is just funny money so it was just a very compelling and engrossing video game. My paper trading account is now back down to $259,329 but I just reset it to $250k a couple weeks ago.

Nice going on the P/L. Keep it up and you will be having lunch with Warren Buffet next year.
 
You must log in or register to reply here.
Back
Top