Scaleout.Scalper
Guest
Experienced Joe you talk more shit than Inexperience Does.
Will i ever get it.
- Thread starter note
- Start date
what is tough right now..when i am in the trade.. ???
define what is tough..
what i am thinking....
i am greedy..i think 4 hr charts TP will hit....
did i noticed the direction correctly...this is yes....but then why i am scarred.
if i lose i lose..not a big deal....
what is my risk reward ratio..i know my risk..stop loss..but i dont know my
profit target....in this one i entered late....now the profit target which i was
thinking is very close...approx 15 pip profit target...and 5 pip risk (stop loss)
is this bad...1:3 ...not a all..this is bringing some clear picture now..
i will exit at 1:3 97:65 or 97.64 1 point less to be safe...
now what is hindering my decision to put this 1:3 take profit is because i lost
few trades before...on same aud/jpy pair...so which is causing me to belive
that i should cover loss for them with this successfull trade....which i think
i am wrong...should not think like this..but made few at at 3 i think
wrong entries got stopped out...now this last one seems to be working..god know
what the hell will happnen but i put my TP..at 97.64 half off is not an option
because i already lost some...
again i am thinking wrong..it did not hit profit yet..i am assuming it already be
successfull trade...oh man..go baby go ...hit that thing...plzzzz....i know
you have to reach till 98 ...just hit 97.64 for me.....very close ..97.61
go goooo..dont stop...fuckk..man ..why coming down...go only 4 more points..
i am out at 97.60 ...man....
just recaping..1 st one i went short...that was plain wrong..totaly wrong...
and i am just seeing that my first trade is always wrong...that may be
that i want to just warm up littile bit to get in traders soul...but first
one is idiotic...
second one...i went short again..there was a resistance...so i thought
it will come back..but can i be correct..no..never..so it went up again..
this time my stop loss got hit...and as soon it hit my sl it started moving
back up again...son of ..ok..so now i enter long again..again my sl got hit
..this was felt like some one like broker or whoever wants to take my sl out..
but no issue..this is the game...so went long again..but i am late by this
time...so finaly got it..in at 97.49 and sold at 97.58 ( i was thinking its 97.60,
may be 3 pip/ 2.5 pip spread)
do i want to do this ..in future..this is what it is....i guess..lose some
win some...its going down again...good i sold it....
define what is tough..
what i am thinking....
i am greedy..i think 4 hr charts TP will hit....
did i noticed the direction correctly...this is yes....but then why i am scarred.
if i lose i lose..not a big deal....
what is my risk reward ratio..i know my risk..stop loss..but i dont know my
profit target....in this one i entered late....now the profit target which i was
thinking is very close...approx 15 pip profit target...and 5 pip risk (stop loss)
is this bad...1:3 ...not a all..this is bringing some clear picture now..
i will exit at 1:3 97:65 or 97.64 1 point less to be safe...
now what is hindering my decision to put this 1:3 take profit is because i lost
few trades before...on same aud/jpy pair...so which is causing me to belive
that i should cover loss for them with this successfull trade....which i think
i am wrong...should not think like this..but made few at at 3 i think
wrong entries got stopped out...now this last one seems to be working..god know
what the hell will happnen but i put my TP..at 97.64 half off is not an option
because i already lost some...
again i am thinking wrong..it did not hit profit yet..i am assuming it already be
successfull trade...oh man..go baby go ...hit that thing...plzzzz....i know
you have to reach till 98 ...just hit 97.64 for me.....very close ..97.61
go goooo..dont stop...fuckk..man ..why coming down...go only 4 more points..
i am out at 97.60 ...man....
just recaping..1 st one i went short...that was plain wrong..totaly wrong...
and i am just seeing that my first trade is always wrong...that may be
that i want to just warm up littile bit to get in traders soul...but first
one is idiotic...
second one...i went short again..there was a resistance...so i thought
it will come back..but can i be correct..no..never..so it went up again..
this time my stop loss got hit...and as soon it hit my sl it started moving
back up again...son of ..ok..so now i enter long again..again my sl got hit
..this was felt like some one like broker or whoever wants to take my sl out..
but no issue..this is the game...so went long again..but i am late by this
time...so finaly got it..in at 97.49 and sold at 97.58 ( i was thinking its 97.60,
may be 3 pip/ 2.5 pip spread)
do i want to do this ..in future..this is what it is....i guess..lose some
win some...its going down again...good i sold it....
Attachments
E/U & A/J both hitting hrly trend line...one reverted back other did not..which is ok.
how fast i can detect that trend has changed..or is continuing.. both cases i assumed that trend will change...hit support and reverse...
in E/U i could have reversed one it goes below emas but i thought that 1805 support will stay..and i went long again at 1810, which was offcourse not good entry...
in A/J , it reverted back twice..which i did not got ...and got in late...i closed just now..i dont know how far my stop loss should be..follow strict rules 1:3 or give it some way to move..i closed it and it will go up again...
approx 20 pips E/U moved 25 A/J...but i did not capture any of that...wake up....
how fast i can detect that trend has changed..or is continuing.. both cases i assumed that trend will change...hit support and reverse...
in E/U i could have reversed one it goes below emas but i thought that 1805 support will stay..and i went long again at 1810, which was offcourse not good entry...
in A/J , it reverted back twice..which i did not got ...and got in late...i closed just now..i dont know how far my stop loss should be..follow strict rules 1:3 or give it some way to move..i closed it and it will go up again...
approx 20 pips E/U moved 25 A/J...but i did not capture any of that...wake up....
Attachments
ExperiencedJoe,
You seem to have much to offer, and also to learn.
This is my situation so that you can understand why for SOME psychology is 98% of the problem.
I prepare well ( 2 or 3 days) ==> trade on given day excellent return
Then PSYCHOLOGY kicks in
* I develop ???? psychology ????
I DO NOT prepare at all but trade ==> disaster.
This is what I am working on.
Also the small stops : are a good reminder to stay away from trading
when I am into "giving back profits" mode.
Psychology can't change the outcome of gambling. This is the reason for the inconsistency. Obviously when you get a winning bet, you feel good and think you have good psychology that day. But all that is just illusory.
To win overall, an actual mathematical/technical edge is necessary.
Last edited:
"Psychology can't pocket your money, but the banks can. If you can't work that out then you are destined to forever giving away your money and never learn a single thing." Experienced Joe
I have described here the pattern and what makes the difference.
You see when I do not prepare, I actually feel like "God is trading", and
I convince myself I do not need to prepare.
The reason is not mathematical/technial, BUT psychology.
This is so you understand why some people are not bothered about technique.
In passing my educational background is pure maths ( and fundamental
physics) so I understand the perspective of putting all under the technical.
Myself when I started, I did not understand the importance of psychology.
You did not understand the importance psychology because you were not yet brainwashed to blame yourself for losing the money.
If you are walking down an alley and then someone whacks you on the head, while you are down, he takes you wallet and runs, would you say there's something wrong with your psychology, or would you say there something wrong with that guy grabbing your money ?
If you can't work out the real reason for your money disappearing, you have no way to prevent it. As it is apparent, you don't have any way.
The technical/mathematical solution in the alley scenario is to carry a knife/gun or don't carry a wallet.
yes psychology can pocket you money:
ExperiencedJoe :
If the guy knows that down the street, thiefs are there from 18-00 till 20:00.
Now, the guy walks there with no problems in the morning.
Everyday except in the evening and all goes well.
Then after a while, the guy - unconsciously ( psychology) - the guy becomes
bold and goes and walk there between 18:00 and 20:00.
And he repeats the pattern every once in a while.
What would you say to the guy?
hmmm please be gentle
My solution is presented above. Having a good psychology won't cut it.