balili23
11-30-2012 11:12, 11:12 AM
Just a bit about me - I went out of my full-time, super secure corporate job to part-time job about four months ago in order to pursue my trading career. I have been trading for a little over four decades and truly thought I was ready to make it happen. I had the egy I would trade the one-minute chart from 8-12 EST and basically turn into a millionaire in about a couple of years. I know that a few people will read this and say'well you ought to have been more prepared before you quit your full-time job' or'I would never have done that' and I'm ready for all those replies. You may have you opinion but I feel great about my choice and basically won't quit until I have'figured this out.'
After being sorely disappointed during the last four months, I have learned a couple things:
(1) I will pound out 30 percent returns per week on a demo account (using proper money management), however after I go'live' I appear to forget my trading. I know, I know, it is demo so who cares. The thing that struck me is that because I could take just about any realistic system and receive killer yields, the problem is me and not my system (maybe this really is a trading plogy thread...)
(2) I am a habitual'system jumper.' For some reason, even if I receive great returns on a demo account, I change systems in an effort to get better yields. In reality, what happens is that I go system into system to the point where I do not really have a'go-to' system on a daily basis. It feels like it affects every week (since it does...)
(3) I can't control the market. I have almost come to the end that cash management is more important that the true system. I am able to control my MM, however that I can't control the market. I have played around with all sorts of MM methods. From the simple 2% method of really with no stop loss (that I really had pretty decent results, but after you get on the wrong side of a fashion. . .yikes).
After reaching the point of exhaustion trying to earn Foreign Exchange work, I have resolved to begin a trading diary to (a) listing each and every trade I consider (b) receive the input of others and (c) give a history of what I had been thinking at certain times. I hope in a few years I look back on this post and realize just how far I have come as I'm spending 5 minutes per day trading with fantastic results.
The'current' manner I trade has two components to it: (1) I trade away pivot points on the one minute chart and (2) basic price action/touch trades over the four hour chart. I'll detail more in my articles as we go along.
I will be as transparent as I can in this thread so we could all grow as traders. I will post each and every trade I take and will also post the yields (then fact - but I don't have any trouble showing my loses). Each and every trade I post will be on a live account - I'm done using demo. After all that has been said up to Now, there is only one more thing to say:
After being sorely disappointed during the last four months, I have learned a couple things:
(1) I will pound out 30 percent returns per week on a demo account (using proper money management), however after I go'live' I appear to forget my trading. I know, I know, it is demo so who cares. The thing that struck me is that because I could take just about any realistic system and receive killer yields, the problem is me and not my system (maybe this really is a trading plogy thread...)
(2) I am a habitual'system jumper.' For some reason, even if I receive great returns on a demo account, I change systems in an effort to get better yields. In reality, what happens is that I go system into system to the point where I do not really have a'go-to' system on a daily basis. It feels like it affects every week (since it does...)
(3) I can't control the market. I have almost come to the end that cash management is more important that the true system. I am able to control my MM, however that I can't control the market. I have played around with all sorts of MM methods. From the simple 2% method of really with no stop loss (that I really had pretty decent results, but after you get on the wrong side of a fashion. . .yikes).
After reaching the point of exhaustion trying to earn Foreign Exchange work, I have resolved to begin a trading diary to (a) listing each and every trade I consider (b) receive the input of others and (c) give a history of what I had been thinking at certain times. I hope in a few years I look back on this post and realize just how far I have come as I'm spending 5 minutes per day trading with fantastic results.
The'current' manner I trade has two components to it: (1) I trade away pivot points on the one minute chart and (2) basic price action/touch trades over the four hour chart. I'll detail more in my articles as we go along.
I will be as transparent as I can in this thread so we could all grow as traders. I will post each and every trade I take and will also post the yields (then fact - but I don't have any trouble showing my loses). Each and every trade I post will be on a live account - I'm done using demo. After all that has been said up to Now, there is only one more thing to say: