An interesting conversation arose between 2 or 3 people in the ForEx chat on Thursday.
It was one that was essentially a di*k swinging contest.
"I can make better trades than you"
"No, my trades are better"
"No"
"Yes"
"No"
I think you get the idea
It came about that on the following day, the Friday 8th of September, they were going to call trades throughout the day and see who won the most, a bit of a trader duel if you will. I was at work so I didn't see this 'spectacle' unfold, but I'm sure it would have been riveting to the chat to see these two guys jerking eachothers love length, to fulfil their egos, live! I am assuming that it was along the lines of I am going long here because blah blah blah, entry here, stop there, target there. That takes cajones, right? To call trades without hindsight, publicly, really shows you who you are as a trader. Can you call trades? would you be willing to, knowing full well you could be wrong? Could you explain your trades? Like, in a comprehensive, yet understandable way? Could you?
This got me thinking, and so on to me and my intention.
I have somewhat struggled with trading. I have been trading now for around 18 months, lost a ton of money in the process, unashamedly and with no regrets, it is named the 'Tuition fee of the market' for a reason.
But it has made me realize a lot of things, patience and risk management the biggest things, and changes I have had to make. I've jumped from strategy to strategy, using every indicator imaginable from every YouTube guru out there 'who makes 5000% growth an hour and turns $50 into $10m just with these 9 indicators' Yeah, right!
I have used the 1m chart, all the way up to the daily and everything in between.
I have used 0.5% up to 5% risk with a stop loss of 5 pips up to 100 pips, I've also used no stop losses (the fear the banks were after my micro lot, was a lot scarier than a 100 pip spike during news and blowing the account, got to protect yourself from those banks right? the manipulating bast....)
It has however recently occured to me that in the last 6 months or so, my trading has improved. Drastically improved. Now I'm not claiming I am the next George Soros, but compared to how I was 18 months ago trading 20 times a day, not having a clue what a pip or bid, or ask or how to use buy or sell limit orders was, or when I was trading with no stops, in the hope that this one is the winner, this is the big one that will let me retire in the morning... oh, it lost, again! type mentality, I am not doing too bad.
I have recently started to journal, though somewhat unsuccessfully, I kind of screenshot the picture of the chart before and after, type a few things on the computer, and never look at it ever again.
This is where you wonderful people come in. You are going to be my motivation!
I am going to start a journal on my page, or profile (what is it called on trading view?) and I am going to explain the strategy I have used, the idea I had, why, the who, what, where and when, the emotions, everything in the hope that it will force me to take the next step to improve. After all, if I cant explain a trade I have taken with live funds to a public forum, then why would I take that trade? On top of that, I want to give you, the other average guy or woman making the same mistakes as I have, or am currenlty, the confidence to move forward. the confidence to not pretend you're the best trader ever, to show you that you arent alone. Everyone is a profitable trader, arent they? 90% of retail traders lose money, how many have you met of them? We are always meeting that 10%ers arent we?
Plus I want to see you're ideas, where I can improve, conversely, maybe you glean some new ideas or inspiration from me.
I will lay everything bare, my awesome trades, my silly trades, maybe some overtrading, my fear of entering a good trade, holding losers too long, cutting winners too early, my misunderstandings, everything. It will either solidify me as a reputable trader, or be the most embarrassing thing I have ever done.
Maybe you can relate to some of the mistakes I make, and maybe it will shine a light on where you are going wrong. Maybe someone comes along in the comments and simply start swinging their di*k at me. If you've got something to say, then say it, don't hold back, roast me, make me look a fool... but all I ask is for you to please back it up with something of value!
Over the course of the next day or two, I will upload every trade I took last week, there were only 8 I think, and then start the week commencing Monday the 11th of September. See what growth I achieve or what drawdown I get. My highs, my lows etc.
So lets do it!
Drop a follow to see the relatively nooby amateur do some trading stuff, I guess.
It was one that was essentially a di*k swinging contest.
"I can make better trades than you"
"No, my trades are better"
"No"
"Yes"
"No"
I think you get the idea
It came about that on the following day, the Friday 8th of September, they were going to call trades throughout the day and see who won the most, a bit of a trader duel if you will. I was at work so I didn't see this 'spectacle' unfold, but I'm sure it would have been riveting to the chat to see these two guys jerking eachothers love length, to fulfil their egos, live! I am assuming that it was along the lines of I am going long here because blah blah blah, entry here, stop there, target there. That takes cajones, right? To call trades without hindsight, publicly, really shows you who you are as a trader. Can you call trades? would you be willing to, knowing full well you could be wrong? Could you explain your trades? Like, in a comprehensive, yet understandable way? Could you?
This got me thinking, and so on to me and my intention.
I have somewhat struggled with trading. I have been trading now for around 18 months, lost a ton of money in the process, unashamedly and with no regrets, it is named the 'Tuition fee of the market' for a reason.
But it has made me realize a lot of things, patience and risk management the biggest things, and changes I have had to make. I've jumped from strategy to strategy, using every indicator imaginable from every YouTube guru out there 'who makes 5000% growth an hour and turns $50 into $10m just with these 9 indicators' Yeah, right!
I have used the 1m chart, all the way up to the daily and everything in between.
I have used 0.5% up to 5% risk with a stop loss of 5 pips up to 100 pips, I've also used no stop losses (the fear the banks were after my micro lot, was a lot scarier than a 100 pip spike during news and blowing the account, got to protect yourself from those banks right? the manipulating bast....)
It has however recently occured to me that in the last 6 months or so, my trading has improved. Drastically improved. Now I'm not claiming I am the next George Soros, but compared to how I was 18 months ago trading 20 times a day, not having a clue what a pip or bid, or ask or how to use buy or sell limit orders was, or when I was trading with no stops, in the hope that this one is the winner, this is the big one that will let me retire in the morning... oh, it lost, again! type mentality, I am not doing too bad.
I have recently started to journal, though somewhat unsuccessfully, I kind of screenshot the picture of the chart before and after, type a few things on the computer, and never look at it ever again.
This is where you wonderful people come in. You are going to be my motivation!
I am going to start a journal on my page, or profile (what is it called on trading view?) and I am going to explain the strategy I have used, the idea I had, why, the who, what, where and when, the emotions, everything in the hope that it will force me to take the next step to improve. After all, if I cant explain a trade I have taken with live funds to a public forum, then why would I take that trade? On top of that, I want to give you, the other average guy or woman making the same mistakes as I have, or am currenlty, the confidence to move forward. the confidence to not pretend you're the best trader ever, to show you that you arent alone. Everyone is a profitable trader, arent they? 90% of retail traders lose money, how many have you met of them? We are always meeting that 10%ers arent we?
Plus I want to see you're ideas, where I can improve, conversely, maybe you glean some new ideas or inspiration from me.
I will lay everything bare, my awesome trades, my silly trades, maybe some overtrading, my fear of entering a good trade, holding losers too long, cutting winners too early, my misunderstandings, everything. It will either solidify me as a reputable trader, or be the most embarrassing thing I have ever done.
Maybe you can relate to some of the mistakes I make, and maybe it will shine a light on where you are going wrong. Maybe someone comes along in the comments and simply start swinging their di*k at me. If you've got something to say, then say it, don't hold back, roast me, make me look a fool... but all I ask is for you to please back it up with something of value!
Over the course of the next day or two, I will upload every trade I took last week, there were only 8 I think, and then start the week commencing Monday the 11th of September. See what growth I achieve or what drawdown I get. My highs, my lows etc.
So lets do it!
Drop a follow to see the relatively nooby amateur do some trading stuff, I guess.