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@  Dope : (24 August 2017 - 02:49 AM) good job fantuz
@  HAWK : (24 August 2017 - 02:48 AM) try to TL breakout with renko
@  fantuz : (24 August 2017 - 02:46 AM) a bit of SR = ITM https://i.gyazo.com/...16cc4a94a63.png
@  Dope : (24 August 2017 - 02:44 AM) rn,2b,123 double bottom ect
@  HAWK : (24 August 2017 - 02:41 AM) hi dope, whats your trigger with renkos
@  Dope : (24 August 2017 - 02:38 AM) thanks bro
@  fantuz : (24 August 2017 - 02:37 AM) nice
@  Dope : (24 August 2017 - 02:33 AM) only use candlestick when i am looking at higher time frame
@  Dope : (24 August 2017 - 02:32 AM) yh bro renko for life
@  Dope : (24 August 2017 - 02:32 AM) https://gyazo.com/66...2cf76c3ae28a717 +3.2
@  fantuz : (24 August 2017 - 02:29 AM) nice dope. you prefer renko?
@  Dope : (24 August 2017 - 02:23 AM) https://gyazo.com/57...7944bede2fac478 +9.9, +6, +0, +2, +2
@  fantuz : (24 August 2017 - 02:00 AM) morning all
@  thi4gon : (23 August 2017 - 11:26 PM) sup singha
@  Singh : (23 August 2017 - 01:26 PM) Sup people.
@  zeeshan ali : (23 August 2017 - 01:15 PM) @LorenzoPP @LorenzoPP ue lorenzo come va? usi ancora EA?
@  LorenzoPP : (23 August 2017 - 01:10 PM) ???
@  seanmk : (23 August 2017 - 01:08 PM) binary
@  LorenzoPP : (23 August 2017 - 09:31 AM) ??
@  kristin2525 : (23 August 2017 - 09:23 AM) BinarySniper

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I did it again :(


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#61 PaititiGold

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Posted 26 December 2016 - 06:27 PM

Read hanover's myth #15, #17 and #20, and alphaomega's excellent post http://www.forexfact...ad.php?t=273035 and his excellent thread here
http://www.forexfact...ad.php?t=566056

that deals deeper into the subject of psychology. Unfortunately many get it incorrect often quoting Mark Douglas superficially without proper understanding.

#62 BrianC

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Posted 29 December 2016 - 04:26 AM

Well it is not black or white, that's for sure, and while I agree on some of the points hanover makes, it really depends on where each trader is on his way to become a successful trader. It is not about putting psychology vs edge/strat in a useless attempt to find out which is more important. To me it was about finding my edge/strat, and once I had that, then work on my discipline/psychology, which for sure has been, is, the most difficult part for me, and it seems to be so for many people. It doesn't make sense to keep searching for others and better strats, and demoing them over and over again, if the real problem is that your state of mind prevents you from being successful on the long term on a live account with any of those strats.

 

Psychology, state of mind, is not the most important factor, but it is probably the one that newbies are less aware about, or less willing to spent time improving, and maybe that is what turns it into the biggest reason for failure for many people.


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#63 ZeusDCS

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Posted 22 June 2017 - 03:14 PM

So I was doing exceptionally well since I'd started trading live, and that should have been expected since my demo trading for past couple months I'd improved so much. Great results, doing well with my MM, but yesterday...yesterday I met my demise. So was up nicely, 4/6 so far, but even at that point I was disobeying my rules which were 2 otm and stop. I went for my 7th and was supposed to be final trade to get me to where I'd wanted, nice. Oh no, lost literally last micro second - At this point I'm pissed to the extreme, was watching the charts literally all day and this was supposed to be my last, even though I knew I shouldn't have even thought about taking this because there was a massive waterfall/chug in opposition of this trade even before I took it, so that's rule 2 that was broken. Still I went on - okay np, it was just a quick jump, I'll do two more, make it back quick. Took a ONE MINUTE trade RIGHT AFTER that last lost trade, where I only do 5 mins (what the f*ck was I thinking?). Lost that one, took another risking my entire captial to make back to my last destination just THREE mins later in a haste. What the F*CK ZEUS!? I'd been practicing never to martingale for months, then I unconciously do it risking my entire account. Who the hell was trading? May not seem like much, but this was a test run to see my pyschological intelligence - apparently it's low right now.

 

An entire year dedicated to perfecting my thought processes, and that for 5 mins past 6 months just to blow it on one minute trades in just a couple mins. I was tired, and at that point I was an idiot. No more trading for the rest of the week, will be back next week if my head is in order...with a few hard written rules near my side to ensure I don't blow it all on two trades. 

Posting this to remind myself of this fallen time, hopefully it will strengthen me to just think back at this moment. I've not come this far just to go back to shit. After all that hard work, just to blow up in three trades.

 

The trade that pissed me off:

Okay.png


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#64 Mowgli

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Posted 22 June 2017 - 04:32 PM

So I was doing exceptionally well since I'd started trading live, and that should have been expected since my demo trading for past couple months I'd improved so much. Great results, doing well with my MM, but yesterday...yesterday I met my demise. So was up nicely, 4/6 so far, but even at that point I was disobeying my rules which were 2 otm and stop. I went for my 7th and was supposed to be final trade to get me to where I'd wanted, nice. Oh no, lost literally last micro second - At this point I'm pissed to the extreme, was watching the charts literally all day and this was supposed to be my last, even though I knew I shouldn't have even thought about taking this because there was a massive waterfall/chug in opposition of this trade even before I took it, so that's rule 2 that was broken. Still I went on - okay np, it was just a quick jump, I'll do two more, make it back quick. Took a ONE MINUTE trade RIGHT AFTER that last lost trade, where I only do 5 mins (what the f*ck was I thinking?). Lost that one, took another risking my entire captial to make back to my last destination just THREE mins later in a haste. What the F*CK ZEUS!? I'd been practicing never to martingale for months, then I unconciously do it risking my entire account. Who the hell was trading? May not seem like much, but this was a test run to see my pyschological intelligence - apparently it's low right now.

 

An entire year dedicated to perfecting my thought processes, and that for 5 mins past 6 months just to blow it on one minute trades in just a couple mins. I was tired, and at that point I was an idiot. No more trading for the rest of the week, will be back next week if my head is in order...with a few hard written rules near my side to ensure I don't blow it all on two trades. 

Posting this to remind myself of this fallen time, hopefully it will strengthen me to just think back at this moment. I've not come this far just to go back to shit. After all that hard work, just to blow up in three trades.

 

The trade that pissed me off:

Okay.png

 

 

Take a break bro. Everyone has to win over this devil to cross the bridge. Believe me, for some it is taking years.


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#65 BrianC

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Posted 24 June 2017 - 05:11 AM

So I was doing exceptionally well since I'd started trading live, and that should have been expected since my demo trading for past couple months I'd improved so much. Great results, doing well with my MM, but yesterday...yesterday I met my demise. So was up nicely, 4/6 so far, but even at that point I was disobeying my rules which were 2 otm and stop. I went for my 7th and was supposed to be final trade to get me to where I'd wanted, nice. Oh no, lost literally last micro second - At this point I'm pissed to the extreme, was watching the charts literally all day and this was supposed to be my last, even though I knew I shouldn't have even thought about taking this because there was a massive waterfall/chug in opposition of this trade even before I took it, so that's rule 2 that was broken. Still I went on - okay np, it was just a quick jump, I'll do two more, make it back quick. Took a ONE MINUTE trade RIGHT AFTER that last lost trade, where I only do 5 mins (what the f*ck was I thinking?). Lost that one, took another risking my entire captial to make back to my last destination just THREE mins later in a haste. What the F*CK ZEUS!? I'd been practicing never to martingale for months, then I unconciously do it risking my entire account. Who the hell was trading? May not seem like much, but this was a test run to see my pyschological intelligence - apparently it's low right now.

 

An entire year dedicated to perfecting my thought processes, and that for 5 mins past 6 months just to blow it on one minute trades in just a couple mins. I was tired, and at that point I was an idiot. No more trading for the rest of the week, will be back next week if my head is in order...with a few hard written rules near my side to ensure I don't blow it all on two trades. 

Posting this to remind myself of this fallen time, hopefully it will strengthen me to just think back at this moment. I've not come this far just to go back to shit. After all that hard work, just to blow up in three trades.

 

The trade that pissed me off:

Okay.png

 

 

In this game, it is so easy to blow up weeks... months of work in just a few minutes, and it has absolutely nothing to do with the strat. it is a complete lack of self control and discipline when we get emotional.

 

I myself yesterday, Friday, was not supposed to trade by my own rules. In the past I used to set really high goals, and that was partly why I often screwed up, so, I lowered my goals, saying making 20-25% growth in a week is absolutely fine, and I can usually do that without too much effort. Thursday I ended the day with a weekly growth of 40% of my account this week, after some good focused, well selected trades. Few trades, but almost all ITM. so I said to myself: "no trading tomorrow Friday, which is not a good day anyway and you are way over your goal this week, so just enjoy your good week."

 

Well, I didn't do that, so I sad down to trade Friday, and guess what? My first trade went OTM. Angry with myself I thought "well, just another to recover and stay in your 40% growth this week." Then I did exactly what you just described here, took another fast trade, and of course it went OTM.

That really pissed me off, and hurt my pride and my 40% growth this week badly. So, clever smart arse Brian went in and doubled the third very stupid trade. Guess what? It went OTM by a very few micro-pips.

 

Now I was really really angry, of course not with my self anymore, I was being a victim here, victim of the market, the broker, Trump...  you name it...poor little Brian, no justice in this world. I was very very close to hit enter on a fourth trade WITH THE REST OF MY ACCOUNT AS A STAKE, when I suddenly had an almost "out of body experience" and realized that this was an old "classic" of mine, and that if I did it, that trade would go OTM almost for sure, so I quickly shot down the computer.

 

Conclusion, it can take just one.... ONE OTM to cause a melt down of our brains and then destroy days, weeks or even months of good work.


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#66 Barnabee

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Posted 24 June 2017 - 06:06 AM

 

so, I lowered my goals, saying making 20-25% growth in a week is absolutely fine, and I can usually do that without too much effort.

You see thats my issue with this whole thing, for a pro investor making 15% A YEAR is a huge success, a hedge fund making 20% ROI is miracle level stuff, I dont think trading for ridiculous growth is viable.



#67 ZeusDCS

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Posted 24 June 2017 - 09:35 AM

I think the topic of psychology has been brushed over too much - like the ugly friend no one wants to approach. This site is filled with thousands of 'holy grails', several being posted weekly. But psychology only gets a new thread maybe 3 times a year? I don't know, but I've only seen one in my time on this site posted since I've been a member. And the ones that do get posted usually only have 1 or 2 pages listed. Working on a psychology strategy for yourself is just as important...if not, the most important aspect in this business. So in all there should be three strategies: Your edge towards the market, your money management, and your psychological strategy.

 

I'm going to place more focus on my psychological strategy since I'm already near mastery of the first two, maybe I'll even create a word document (a journal) shelling out how I felt during the trading day, and decypher the days where I felt a little devil coming on so that making yourself aware as soon as possible that it's your ego that's about to be in control. Seems in all like a good approach, I'll work on that next week, and who knows, maybe it'll become a good psyche strategy that I may be able to post later on following mastery.


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#68 BrianC

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Posted 24 June 2017 - 09:52 AM

You see thats my issue with this whole thing, for a pro investor making 15% A YEAR is a huge success, a hedge fund making 20% ROI is miracle level stuff, I dont think trading for ridiculous growth is viable.

 

If I had an account of 100 million I wouldn't go for 20% weekly growth either. I don't think we can compare hedge funds and the like to our usually small bo accounts. But... basically you are right.

 

Many will start with... I don't know, let's say 100 or 500 on their bo account. If you go for a 10% yearly growth you will start to make good money... let's see.. in another life time.


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#69 Barnabee

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Posted 24 June 2017 - 09:54 AM

If I had an account of 100 million I wouldn't go for 20% weekly growth either. I don't think we can compare hedge funds and the like to our usually small bo accounts. But... basically you are right.

 

Many will start with... I don't know, let's say 100 or 500 on their bo account. If you go for a 10% yearly growth you will start to make good money... let's see.. in another life time.

 

Thats why they say you need money to make money, the less you have the higher the risk.

 

If somebody has the genius skill level to grow a 100$ bo account into several thousand 1000% long term then yeah good for him, but me personally I would prefer to believe that the way to do it is to deposit 50k into a forex account and grow low 2 digits per year :)


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#70 BrianC

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Posted 24 June 2017 - 09:54 AM

I think the topic of psychology has been brushed over too much - like the ugly friend no one wants to approach. This site is filled with thousands of 'holy grails', several being posted weekly. But psychology only gets a new thread maybe 3 times a year? I don't know, but I've only seen one in my time on this site posted since I've been a member. And the ones that do get posted usually only have 1 or 2 pages listed. Working on a psychology strategy for yourself is just as important...if not, the most important aspect in this business. So in all there should be three strategies: Your edge towards the market, your money management, and your psychological strategy.

 

 

I couldn't agree more. The problem with that is that we need to manage this on our own, and it can be difficult to deal with, even to see, our own physcological issues.


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#71 BrianC

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Posted 24 June 2017 - 09:58 AM

Thats why they say you need money to make money, the less you have the higher the risk.

 

 

True. But it is also true that for anyone with experience in this, a good trading plan, a good mm and who has his/her psychological "management" sorted out as well, to make 20% in a week on bins is not really that difficult.

 

If I give you a 100 to start with, wouldn't you say you could probably easily turn that into a 120 in a week? You could probably do that in 2 or 3 well thought out trades.

 

For me personally it is also about: the less time I'm in the market, the fewer trades in a session, the better. For me, doing 10 trades in a session is overtrading.


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#72 BrianC

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Posted 24 June 2017 - 10:10 AM

Now that I think of it, Barnabee's comments have given me more food for thoughts. Just think about what he said. I mean, a 10% account growth in a week would be insanely successful in the "true" financial world. How many of us here can't say we can do that more or less easily with bins?

 

With and 80% payout, 3 successful stakes with 5% of the account balance would give a 12% growth. Sounds difficult?

 

And still, here we are trying to get better and struggle with psychological issues when we get two consecutive OTMs.  :blink:



#73 BrianC

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Posted 29 June 2017 - 12:54 AM

Hi agian. So, as I said, Barnabee's comments made me think more (and again) about how we often set very high goals with bin trading, which can be a huge problem when we have issues with discpline and emotions. So I tried the following this week, which, if you think about it, is still a pretty high goal:

 

Weekly rules:

  • 10% of balance stakes
  • A minimum of what is equal to 3 ITMs in a week, which with an 85% payout gives 27,7% account growth in a week (= around 165% growth in 4 weeks, more than enough I would say)
  • I'm "allowed" to stop after 27% growth (3 wins)
  • I HAVE TO stop after 5 wins (50% growth)
  • I MUST NOT trade Friday if my weekly goal (3 wins) has been reached on or before Thursday
  • After 1 ITM (or equal to if I lose the first trade) I MUST STOP trading for that session

I'm not saying that this is a good MM plan or that you should follow it or anything like that, I'm just saying that people with emotional and discipline issues should make a plan that makes them feel really really relaxed about trading. This plan ocurred to me because I have very little time to trade every day, so I don't think it is realistic for me to try to get more than 1 ITM per session. I very often have, but I also have felt the time pressure very often when I lose a trade. Not a good thing when trading bins.

 

I have never been so relaxed and calm about trading as I have been this week. Today is Thursday and I now have 4 ITMs, so I am over my weekly goal with about 38% growth. I am not trading tomorrow Friday. I actually reached my 3 weekly ITMs Tuesday night, so I could have stopped for the week there, so I slept until late Wednesday and didn't trade. Then I got up today thinking, well, take a look at the charts while you have a coffee and see if you like what you see, and if you don't, then don't trake. But I saw a nice one and took it.

 

10% of balance stakes may seem too much, but we are talking about taking very few trades in a week, it shouldn't be a problem to recover one or two losses.

 

Trading like that, getting rid of all the pressure, really does change one's state of mind, it makes you calm and relaxed. And then we can approach trading with a completely different mindset.

 

Again, this is just what I tried this week, and felt good about. Each one has to think what would make them feel relaxed about trading. But if you are an account blower repeatedly, you do need to change your goals and your trading plan.


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#74 traderpusa

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Posted 29 June 2017 - 01:41 AM

I have moved on from bins to fx/cfd a while ago, but still have this old mm i used in the days of binary options.

Simple rule where you count itm and otm and put a daily number on it.  It might help you not to blow your account.

Good luck.

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