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RealDemo
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Posts posted by RealDemo
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We don't risk any real money in theory
It was 1999-2000 when I started trading stocks. First year I lost 50% of my account, then it took 2 years to learn how to trade and gain what I lost. We learn from our mistakes as well...
....yes, the statistics are not in my favour, and as you say the regaining of lost ground is a steep hill to climb.
I'm surprised that the difference between demo and real is so large, maybe it's just me. I'm really not playing big, I mean 2 grand is really laughable. :haha:
I hope to learn from the mistakes I make..... I've got nearly an A4 side of notes from this months trading to make sure that I remember all of them (mistakes) and then very consciously try to force a change of habit.
One example, and it's one of the larger problems for me is hesitation. Even with all parameter gauges reading 'good' I can still hover in limbo.
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So the end of January comes around and the scores on the doors are -8.5% on the account.
Personally a difficult start to the year but not completely unexpected considering my level of skill.
Certainly I have a much better idea of what taking monetary risk really feels like. I've had very little exposure to gambling in my life so putting money behind a conviction is a pretty new experience.
The theory, which is simple enough, has been difficult to execute consistently, and it's been shocking just how far I can stray in this respect.
Recognising certain things, whatever that may be, patterns, price action etc. in real time and acting on that information is where I need to focus. The deceptive nature of how price action forms is intriguing, and it's understandable that people look for confirmation all the time.
Here's to better results in February.
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I chose pivots because it's an easy to understand set of formulas that can be extrapolated over any time frame. I've found that, so long as I actually stick to the plan, it has been profitable, at least in the short term that I've been paper trading. Will definitely give it a few months, but it's nice to have the chance to spend entire days doing this - getting up before the market and making some decisions, and rolling with them through the business day, to really understand what happens, and then analyzing those decisions after the bell. I'm finding it easily consumes my attention span and keeps me wired up, which is a good thing!Yes it certainly demands attention. It's probably one of the most demanding things I've ever attempted. I hadn't a clue at the beginning as to the enormity of the task involved in trading these markets.
The premise is pure sparkling simplicity....... the trading of that premise is often the exemplification of hell.
I play chess, and I equate trading to being like playing chess.
Certainly at the start we trade like our first games of chess. We've understood, and just about memorised how the different pieces move, but beyond that we have some vague notion about protecting the king or something and the rest is totally stumbling in the dark.
An experienced chess player has a totally different perspective of the game, as do experienced professional traders.
I believe if we persist and give it our utmost attention we can become experienced, and we can consistently extract money from this game. I am aware however that I may be chasing a mirage.
I feel sometimes that I'm just getting the pieces out of the box.....
All the best.
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Rather, I am looking for a specific, but general area of where to focus.
From the recent posts, it might be best I spend my time somewhere else.
......good idea, you might want to buy yourself a dictionary while you're at it.
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I guess before I speak, I should review all my words and make sure that you can get 100% black and white answers like people want in trading.No don't do that, I prefer you all obscure and mystical like.......
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Took this short as price raced into the pivot. A support turned resistance level. To be honest this is late in the day for me..... uumming and aarring about what to do, (I know that's not good) also got a eurjpy short trade struggling to survive as well.
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[ame=http://www.youtube.com/watch?v=VkmEZs_Kcms&feature=related]green day - american idiot HD - YouTube[/ame]
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If a price goes through R1 and it looks like it's going to keep on, it seems logical to hang on as long as it remains above R1. The problem with that, of course is the price may take a quick dive below R1, and then you're back to where you were before (or worse). What I have to answer for myself is, what's the value of the additional time and uncertainty when I could simply sell immediately at R1 and be done with it?Exactly, and this is the dilemma of maxing out your winners. How much are you willing to potentially give back? and does your testing/observations give you probabilities that favour doing one over the other?
This also might vary between markets.
It may be possible with multiple lots to create a strategy that trades intraday but leaves a percentage of the trade on to build a much more long term view trade in trending price. Let this percentage run as far as you can or at least have another target area in mind.
You may find this provides no advantages at all, or you may find it's to difficult to implement for other reasons, but all this you'll have to find out, as you say, by yourself.
Interesting way your going about this, if you don't mind me asking what made you choose Pivots?
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I think 1.2800/1.2850 will hold this week unless we don't any surprises..Fed policy meeting starts tomorrow and eu meeting on wednesday...Last weeks COT report showing a lot of commercial buying, I hope they continue, I've got a gap trade that I'd like to add to.
USDCHF dropping perfectly out of Asia's tight little range...... and what a lovely little range that is.
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Speaking as one who has floundered around in the pool of 'no direction' for some time, my advice would be to start to organise.
Start defining 'stuff' like 'I want to be a trader'. Trade what? and when? get a plan of attack together. Traders spend their time coming up with plans of attack.
The 'how?' comes later and is really a product of getting organised. There are a million and one 'hows' out there but you only need one. Technical/fundamental it needs to be one that you know inside out, applied to a market you know inside and out.
Do not get side tracked from concentrating on one market at the start. Your skill levels are in the basement and it's a long way up.
Study and apply your market ideas one at a time and keep notes.
At the beginning we're on a search, and we're really in the woods looking for treasure.
This is probably one of the most strange and interesting treasure hunts your ever likely to go on.
Stick post-it notes on trees so you know where you've been........
all the best.
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So this week my account hasn't moved because I haven't moved.
Looking to get some positions on this week. Eur pulling back breaking out of it's bear channel, (not shown)
Is this just pulling the rubber band back more so we can shoot off to 1.16?
Here's some levels I'm looking at on the bullish side of things.
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When it comes to entries, the usage of various tools such as support and resistance, pivot points, fibonacci and even camarilla come to mind. While they do show you potential points for entries, they do not, however, show you a more specific area for entries.With experienced traders, how do you guys isolate a specific point for an accurate entry?
How much more specific can you get than a specific price?
Your S/R level is your specific point, your pivot is specific, your 61.8 fib is specific, how can you be more specific?
Do you mean specific?
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DOJ shuts down Megaupload website in New Zealand.....without SOPA law.
So after a very long time trying to convince it's citizens yet again that the world is a bad place and America needs more and more power to deal with it...... it does whatever it wants anyway!
Shooting yourself in the foot while giving a big fat one finger salute to the world.
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There is still a lot of elected support for this legislation across the states, here's an interesting map:
Congressional Support/Opposition of SOPA
Google have amassed a staggering 4.5 million signatures on their petition against this.
"There’s no need to make American social networks, blogs and search engines censor the Internet or undermine the existing laws that have enabled the Web to thrive, creating millions of U.S. jobs," the petition reads. "Too much is at stake -– please vote NO on PIPA and SOPA."
[ame=http://www.youtube.com/watch?v=tzqMoOk9NWc]SOPA and PIPA - YouTube[/ame]
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Any Europeans who may be still left thinking......naaaa..... that's just those crazy americans, that sort of thing would never happen here.
Think again.
ACTA
La Quadrature du Net | Internet & Libertés
they are coming for the internet.
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Two pieces of American legislation that, if passed, could change dramatically our internet freedoms, and not just in America.
This, I believe, is very important stuff. It would effect everybody, and the questions it poses are far reaching. This is far more than a bill to protect copyright. It is a power grab for more control and censorship generated by fear.
Here is a link to a run down of the bill in detail...... and the devil is in the detail:
http://mashable.com/2012/01/17/sopa-dangerous-opinion/
Here is the White House view: https://wwws.whitehouse.gov/petitions/!/petition/veto-sopa-bill-and-any-other-future-bills-threaten-diminish-free-flow-information/g3W1BscR?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl
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No trades yesterday or today.
This choppyness is a killer for me so I'm going to sit on my hands and wait for better opportunities.
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I see. And exactly how will i move from my present position unless somebody here,particularly and most especially the doc starts answering the questions? Because if he could just do that,the nature of this debate could evolve,couldn't it?If you could maybe understand that this is not a debate that might help.
The human brain is anything but beyond the limits of the average Joe. And Rande is not the average Joe.
It obviously is, this is what I'm talking about. Do you know people with whom you could discuss the activities carried out by the Thalamus? I don't. Shall we discuss which parts of the fusiform gyrus are face-selective? another time maybe....
Rande is a Joe, excuse me if I'm wrong but I don't think he's been outstanding in his field.
Rande[/color] believes we are not worth his energy.I am not the only one on this side of the chess board (the white pieces naturally
) therefore,i am not the only one that he believes is beneath him. There's the rest of the 99% who have got very real,not imagined,issues with the 1%. And i ,just like them,will not allow these people to carry on with business as usual.The world is changing my friend,very very slowly.We'll probably all be dead before we see any big changes,but if man is to survive we must evolve into something beyond what we presently have.My suspicion is this change may be decided for us somehow. And it will have nothing to do with God.
All life is reflected in the market.To win we must lose the ego,be prepared to change our view,and adapt and learn.I get that.That is why failing at trading is not an option for me.I want to evolve as a human being.I want to be humble.I want to appreciate how blessed i am compared to someone who lives in Zimbabwe.It's a lifelong journey.
How many of the slugs at the top share my world view?
We are not going to progress by writing new laws,or by bombing the Middle East.We will only progress by changing our morality.
Now you tell me,how many here are prepared to do that?
.....oh now you want to get back to the topic, after having a wander round wills mothers you're accusing me of going off subject? :crap:
You're not willing to listen, you're not willing to compromise, you're not willing to invest anything other than feeble diatribes, so I'll leave you with this, I'm done.
[ame=http://www.youtube.com/watch?v=DUd8XA-5HEk]Laurie Santos - YouTube[/ame]
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You'll be glad to know I've analysed you too MB.
I've diagnosed you as having something called the "God Complex", don't panic we're not off down that bottomless pit, it's got nothing to do with religion, well not in your case anyway.
It's pretty common, I have bouts of it myself.
It's all about the persons inability to accept that they may be wrong.
The complexity of most things, let alone the human brain, is beyond the limits of understanding of your average Joe, that's me, that's you, and that's Rande, but still the hubris flows like wine.
The rather sad side effect of this unacceptability is that the person becomes completely blind to their ill considered position, the reality of the situation as seen by most onlookers has passed them by, and rather like the drunk uncle at a wedding, they will inevitably make a complete tit of themselves as everybody shuffles uncomfortably away.
....of course I may be wrong
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This triple A thing has put the boot in. It's like every time the sun breaks through a chink in the clouds over Europe a wind whips up and blows in more cloud.
Is this year destined to be a 2011 'take 2'?
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So going into week 3 my account is down 2%. I've learnt a lot, the biggest problem I think is my severe lack of patients, I'm going to have to get over this if I'm going to have any hope of progressing.
I know, if, buts and maybe's don't belong in the real world..... but..... if I had just shorted EURUSD at the start and not looked at my computer until today..... I'd be up around 300pips :crap:
...back to the real world.... :missy:
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Welcome, look forward to reading more about your trading.
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Wow! Rande you still yanking at them blinkers?
If it wasn't for guys a shade older than him strapping themselves into spitfires,i might have been born into a very different world.
... recently I saw an article about a 'health and safety' issue concerning old Spitfire pilots....it would have you breathing flames mitzy, I can't post the link for fear it may induce an aneurysm.
I grew up in the seventies too, and apart from some quite awesome musical talent knocking around.....oh and the motorways were empty...... it was pretty s#it.
There's the US kicking Vietnamese and Cambodian ass, Watergate, then the Arabs and Jews had a war :doh: yeah, a real one not just blowing raspberries. The IRA was blowing up stuff, the cold war, the cod war, two Germanys, inflation hitting a mighty 24%, stagflation! 3 day weeks, oil crisis, and no TV after 10:30pm.....
The end of that decade culminated in countrywide industrial action that had rubbish piled up to the second floor and grave diggers not digging graves.
...ahhh happy days :rofl:
(I apologise for any facts that may have spoiled this post)
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CELEBRITIES/THE MEDIA/SPORTS/CULTUREEver find yourself trawling through 150 channels of junk on the TV trying to find something worth watching? Ever asked yourself why you're paying to be not entertained?
Welcome to the rewarding failure trend
No I don't ever, and I fail to understand it's relevance in your argument.
Ever get tired of listening to untalented B-movie celebrities agonising over their next plastic boob job?
What?, sorry Mitsy but WTF.
Ever wondered why your teenage kids are even more miserable 'cos they aren't talentless enough to join the ever growing members on the rewarding failure trend?
Well mine aren't there yet, I can only hope that their value system installed by their all knowing father will overide this
Ever wondered why the 100k a week sports stars never put a single dime back into the game they owe everything to? Is it 'cos they're part of the self entitlement trend that actually believes they're worth it?
You mentioned Beckham earlier, you know he's pretty charitable.
Ever despaired that each less educated,world owes me a living generation, is slowly dumbing down the entire planet and ensuring the 1% and Bunnies get to stay in power?
Less educated? not sure what you mean by this. There has been recently huge efforts by humans to change the balance of power has there not? I think your "BLINDERS" are well and truly strapped on
What Happens if Greece Defaults?
in Market News & Analysis
Posted
Europe is a very big place and not all of us are eating mud, well not yet anyway
One of the major effects of all this debt is the kind of unemployment figures you find in countries like Spain with 23%, it's a real cancer in their society and the trend is up.
If Greece defaults I believe the greatest pain will be felt by the Greeks themselves.