Learning Cycles For New Traders - page 23
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Then, how do You avoid the big moves?
We can never avoid 1 spike with 200pips, but we can withstand quite a huge amount of 100pips range move. Thats what all about. Still, I'm not promising it will work forever. The only thing is to consistantly withdraw your profit. And I never regret when I blew up my account. Coz its expected, and my backup account is always loaded when I'm in profit. I oftenly transfer profit to my sub, once in a month atleast. Read the chart and see what happen.
Regards
David
Then, how do You avoid the big moves?
Well ... you gotta figure out yourself man. You want to learn, just learn and fix the problem. If you can't fix it, then just get another system. That's it. Good luck
Regards,
Experienced Wisdom Method
Never trade the market alone, becuase market will nail You down! Trade with at least 2 people. Example :
After a very long time of trading, You discovered a method which is the best among many of Your methods. You trade for 1 week, using 1 lot, and all trades are winners. Then, You have confidence in Your trading, and You then decide to trade 5 lots or so for the next week. Before we go to the 2nd week, I want to tell You that, for example, we have won $50 for the 1st week. When we went to the second week with 5 lots and with confidence, the market immediately turned againts us! The 1st trade with 5 lots, You lose...all what You won for the 1st week....You lose $300. The next 5 days, You lost much, much more. Do You know the problem? THE ASWER IS: Never trade the market alone!!! Trade with at least 2 people! Ask me how!
Q1
Dan,
There seems to be a flaw in your way of approaching money management. I think this may explain why you seem to be frustrated with 'methods' - that don't work. You see, you can't trade 1 lot for a week, turn a profit, and then start trading 5 lots the next week. The gearing on your positions just got multiplied by 5. This is insane and really bad for your account - deadly actually. Let me try to help you out a little bit as I see that you are at a dead end (so to speak).
Q. If you opened a mini account with $1000 and a 200:1 leverage, then how big of a position would you put on if you saw an opportunity to place a trade?
Please answer this question in mini lot amount.
P.S. Trading with a partner is a temporary relief, and will not solve your problem.
MM
I don' understand what you mean sir, never trade alone...
I don' understand what you mean sir, never trade alone...
That's precisely the problem here Nicesurf. Dan does not trust himself enough to do it by himself. That's completely understandable, as most new traders go through those emotions. As a matter of fact - everyone goes through those emotions. Bottom line is that having a trading partner masks, the real issue. The real issue is trusting your own judgment, and holding yourself accountable for your own decisions. This is at the core of the reason why most people fail in trading... and life in general.
The real problem
The real problem is that he is a 5 star idiot and never looks at anything longer than 10 seconds and even then expects others to evaluate it.
He will be forever talking about it because he cant get a grip.
FxN
The real problem is that he is a 5 star idiot and never looks at anything longer than 10 seconds and even then expects others to evaluate it.
He will be forever talking about it because he cant get a grip.
FxNCheers,
The real problem is that he is a 5 star idiot and never looks at anything longer than 10 seconds and even then expects others to evaluate it.
He will be forever talking about it because he cant get a grip.
FxNNevermind...
Pj..
Never trade the market alone, becuase market will nail You down! Trade with at least 2 people. Example : After a very long time of trading, You discovered a method which is the best among many of Your methods. You trade for 1 week, using 1 lot, and all trades are winners. Then, You have confidence in Your trading, and You then decide to trade 5 lots or so for the next week. Before we go to the 2nd week, I want to tell You that, for example, we have won $50 for the 1st week. When we went to the second week with 5 lots and with confidence, the market immediately turned againts us! The 1st trade with 5 lots, You lose...all what You won for the 1st week....You lose $300. The next 5 days, You lost much, much more. Do You know the problem? THE ASWER IS: Never trade the market alone!!! Trade with at least 2 people! Ask me how!
You reminded with this guy who used to be in the army and one day he called me to stay with him as he was scared to watch a horror movie.
Don’t make the same mistake; you will become the joke of forex-tsd.com, if you are so worried, give your money to money manager and let him trade your account, but don't ask for a babysitter.
The safest way to double your money is to fold it and put it in your pocket.. try this method and you will be rich