Comment by AliHuzaifa on October 23, 2011 at 5:17am

agree trading is skill

Comment by Peter jcp on October 23, 2011 at 10:42am

HI Pooh - I hope you are making your daughter a lot of pancakes - and not running down to the garage too often  ( lol). We all know at times trading can be so frustrating and the emotional peaks and troughs can be reached many times in a short period. I have not worked out my exact stats - but I know I have suffered over 1000 trade losses in the last 4/5 years. The majority have been for under 15 pips on scalping and anything from 35 - 120 pips on a lower number of swings. I am naturally competitive both in sport and business and so I  have had to go through the whole "brain train" to adjust. I still have never had more than 4 trades go wrong in a row since becoming a serious scalper - but I  do admit I cheat on the scalping side and if I get to 3 in a row going wrong - I will pull the next 4th trade early just with 2-5 pips profit - so to break the "bad run". I now wake up most mornings and try not to think of winning and losing - just trading the probabilities and accepting so many losses and accepting normally a lot more wins So for me - no punchbags not histrionics- just listening to a radio / tv  and chatting and drinking cups of tea. That would change if I ever had a $20k winning or losing day- but thats still a bit away - Have a good week and dont get angry

Comment by genxtrader on October 23, 2011 at 12:31pm

whaaaaaaaaaaaa LOL LOL LOL LOL, oh pooh my stomach is hurting

Comment by Lisa on October 23, 2011 at 3:22pm

cute Pooh Ƹ̵̡Ӝ̵̨̄Ʒ

psychology is 90% ~ we all know 

Studying the psychology & the probabilistic nature of the market ...

is what catapulted my trading.  

Not the latest / greatest strategy / methodology.

Mark Douglas says it’s not about being *right or wrong* 

It’s just identifying a signal and being available to take it. 

My friend John clued-me-in awhile back about watching for signal failures too.

Our job isn’t to be *right*, but take the next move whichever way it goes.

We can’t move the market (we have no control) our opinion doesn’t matter, ...

we can’t ever know the minds of all the market participates ...

and the fundamentals are a "caldron of information at the intersection of 2 countries."

The latest quote that I’m hanging onto is, ...

“that anyone, well ~ almost anyone, ...

can make $ when the market goes the way they anticipated.  

You know you’ve arrived ...

when you can make a profit when the market doesn’t accommodate your expectations”  

very *cool*  

Technically, the EUR/USD hasn't broken out of it’s large trading range (?)  

it may still SELL off (?)  

money management keeps us available to trade the next move

 

 

Comment by Lisa on October 23, 2011 at 4:50pm

 

“... and we live, we live to fight (trade) another day”

 

Comment by Lisa on October 23, 2011 at 5:07pm

 

... on the hard, right edge of risk

(okay ~ I'll STOP now)

 

Comment by Lisa on October 23, 2011 at 6:09pm

let’s see the market open ...

& trade management *rules* are break-even once price trades past 1:1, ...

*but* we always watch the price-action 

"The first rule of investing is don't lose money; ...

the second rule is don't forget Rule No. 1."

- Warren Edward Buffett 

Comment by Lisa on October 23, 2011 at 6:57pm

          intense

Comment by Ricardo Kempff on November 2, 2011 at 8:10pm

Let's face it, we all did something like that at least once. Well not like that exactly but felt like that.

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