The Life and Times of suFreshFX (Based on a True Story) -
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thread: The Life and Times of suFreshFX (Based on a True Story)

  1. #21
    Hey Fresh, Thank you for the answers and taking your own time on this.At this stage only way to be successful would be to keep working on my own set of principles and polish my egy until it becomes something known as my 5 palms as saying goes =-RRB- and I think with additional sources of income is what finally I want as well. For now I am in IT industry and trying to get to some heights too. After that is done my trading should be making more than a job so I can transfer to possibly realtor business or open something . But, I really like trading Foreign Exchange as it...
    Hi taksistalo,

    No problem my pleasure. Thank you for sharing. What I would do is list out each goal and write a listing of your next measure. I tell you trading will be the toughest one for anyone on this listing. Why? Your first step should be consistency. This may take a lifetime. Once you get there you will know it was worth the time.

    As soon as you commence trading 5 to 10 lots a day comfortably, you may earn a good living from trading spot currency.

    When you have a look at the question:

    How often do you trade?

    I show: Every account that I print has a goal. There are many accounts I exchange with I need to not reveal.

    My main draw down I have recorded here:

    Largest Loser A

    I have not had a larger reduction then that (yet). My accounts do not discount as I stated when my account reaches a certain level I will trade smaller position sizes before I get the account back to normal. If and when I receive a larger loss than displayed above I will be delighted to post it here. Losses are part of the business and that is why I posted that for all to see.

    Hope it helps. Let me know if you have any additional questions. Thank you.

  2. #22
    Thanks man, I love the honesty and also your lead to success. If you will be in Dallas let me know I would love to have a little chat about trading, would buy you a supper to make it occur;--RRB- For now will concentrate on polishing my skill and make it as perfect as possible. The toughest thing is to follow the plan, I keep braking these rules and being not patient enough. Thanks one more time for setting up with queries, however now I believe for the most of them I need to find answer .

  3. #23
    Thanks man, I love the honesty and your guide to success. If you'll be at Dallas let me know I would love to have a little chat about trading, could buy you a dinner to allow it to occur;--RRB- For today will concentrate on polishing my ability and make it as perfect as possible. The hardest thing would be to follow the plan, I keep braking those principles and being not patient enough. Thanks one more time for putting up with queries, however today I believe for the most of these I want to find answer myself.
    I was only in Dallas a couple of months ago. From the Flower Mound and Frisco area as I have relatives and friends that live out there.

    I'll be there in another couple of years max. Really like the loion because its family oriented. Will definitely ping you if I remember and allow you to know.

    Dinner will be on me my friend.

    You have to ask yourself why not sticking to the plan. Most times you'll discover the answer. We need more or we want to make the money back because the market owes us. This is a problem that has to be solved for many traders. Plogy is a really major part of trading.

    Hope it helps.

  4. #24
    Ye plogy its a massive factor in trading, I would say probably the largest one =-RRB- yes it is a greed and no patience for me personally =-RRB-))) I'm grinding for two years and due to my IT job I'm watching markets and playing around always. Working on response of markets over the weekends and attempting to have some free moment in markets or study about successful traders, basically putting my 100%. I see these patterns of price action now playing over and over again, just last issue is need to understand to wait for one to happen and execute at the ideal time, do not jump the gun =-RRB- Last month will be brake even for me I think I'm pretty near begin being profitable, I can feel it =-RRB-)) However, I think much more work has to be done before I can say .

    Sure I'll be around to remind about myself =-RRB- I live fairly near Plano (in Wylie). Yes I love Texas, I transferred from Ukraine 13 years ago 17 year old kid and never desired to move anywhere else, now with two children married haven't seen greater place in US yet, but haven't seen a lot of US yet as well lol =-RRB-))))

  5. #25
    Junior Member Oxrctt's Avatar
    19
    Thank you for taking the time to reply to my queries sometime ago. As I am still a Jr manhood, my remark saying thank you was deleted by the admin.

    I've a query about stop loss now. Will you set it based on a percentage of equity? If this is the case, what is the percentage of equity? Around 2%, less/more or case in the event?

    Thanks.

  6. #26
    Ye plogy its a huge thing in trading, I'd say probably the biggest one =-RRB- yes it is a greed and no patience for me=-RRB-))) I'm grinding for two years and because of my IT job I'm seeing markets and playing around constantly. Working on response of markets on the weekends and trying to get any free minute in markets or study about successful traders, basically putting my 100%. I see these patterns of price action now playing over and over again, only last thing is need to understand how to wait for one to happen and execute at the ideal time, do not...
    Thank you for sharing my friend I love your posts.

    Greed is something that may be hard to overcome for many including me, but that I could explain to you how I have handled this in the past.

    Recall the very first goal is to understand how to trade properly. If you do not understand this and are expecting a range of indiors set on your charts will provide you the advantage you need, simply to learn it doesn#8217;t work all the time and then rearrange some indiors to expect you now have a better chance, you probably are going down the wrong path. I am not against indiors at all, but I do not use them.

    The very primary goal means practice, practice and practice till you have a winning ratio that defines having an advantage on the market. This doesn't mean every transaction will be a winner. I know traders that have a 40 to 60% win ratio, but are still successful on the market. Should you don#8217;t have an advantage, and throw greed and being impatient to the mix you now have a guaranteed success for a disaster I am willing to place money on.

    Organizing One
    This is an experiment for those that haven't finished the first aim. Before I proceed I will say I know very well the probabilities in trading are less than 50/50, but allow #8217;s pretend we had this much of a probability, but still didn't complete step one.

    Let say you place a trade on average five trades every day. Flip a coin and guess heads or tails five times every day. Each coin toss is considered a separate case and has a 50/50 shot. Record your results after a week, 1 month, etc.. Now understand this coin toss experiment has a much higher prospect of winning than you do in the markets under this scenario.

    Scenario Two
    You've now finished the first goal and are on your way to making big money! Don#8217;t celebrate overly fast as being impatient remains in the manner and have not been solved. You may observe that in some cases you will make a lot of cash because greed got in the way, however on the other side you may see that a lot of money may be lost because of greed as well.

    What I say to people in this scenario is to find an accountability partner. This may be a little pricey, but you can always train a dear friend to assist you at no cost. What your accountability partner should do is prior to you ever placing a transaction he or she must ask you a number of customized questions that help you to not get overly greedy.

    Some cases would be, do you have a stop loss in place in the event the transaction goes against you, if this transaction loses you must switch off your computer for X number of hours, what's the position size you are carrying, etc.. All these sets of questions will help the person trader with greed each time they place a transaction. You can also put consequences in there with your accountability partner such as you may donate money to some charity or stop trading for a week in case you do not listen to your accountability partner.

    Hope this helps my friend.

  7. #27
    Thanks for taking the time to reply to my questions sometime past. My comment saying thank the admin deleted you, as I am still a Jr member. I've a question about stop loss. Are you going to set it based on a proportion of equity? If this is the case, what's the proportion of equity? Around 2%, less/more or case by case? Thanks.
    How do you determine Stop Losses?

    No difficulty Tomi888, and welcome again!

    Most folks here will say to use a stop loss of about 1 to 5% of your account. I am not against this, however I'll be honest and say I do not trade this way.

    I've very tight stop loss once I start my trading week till I've gained a good amount of profit.

    Next following a decent amount of profit is gained I'll take riskier trades and just expose the profit that has been gained for this month or week. If the stop loss is hit I'll start over again and start trades with tight stop losses.

    I determine my stop loss exactly the same manner as I do with my take profit so I do not risk the beginning balance. The beginning balance ought to go higher and higher every week or month so you don't risk your start balance every time and return to square one.

    Hope this helps, let me know if you have any other questions my buddy. Thank you.

  8. #28
    Junior Member Oxrctt's Avatar
    19
    quote How can you decide Stop Losses? No problem, and welcome back! Most people here will say to use a stop loss of about 1 to 5 percent of your account. I'm not against this, but I'll be honest and say I do not trade this manner. I have very tight stop loss once I begin my trading week until I have gained a fantastic amount of profit. Next after a good amount of profit is gained I'll take riskier trades and just expose the profit that's been gained for this week or month. If the stop loss is hit I'll begin over again and begin trades...
    Thank you again! This helps me a lot. I have been trading based on the price action without indiors (clarified in Trading At The Buff from John Templeton) in the past couple of months. I just trade if the price goes through brick zone with second bar activity. Your logic about stop loss makes sense to me!

  9. #29
    Hi @suFreshFX,
    Good outcome. I read all thread and discover a lot of helpful info to come up with my trading. Thx.

    I've got question.
    In yesteryear did you trade alone or belong to little groups of traders in real life or on Skype, net etc?

    I am asking because I constantly traded independently and maybe trading in little group of individuals who exchange information about their results, setups, money management can be helpful. Have you got any experience?

    Regards
    R.

  10. #30
    SuFreshFX,

    suppose that if it'd be like soFreshFX??
    Anyhow, very informative. thanks.

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