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If someone starts flaming you PM me with a screenshot of the incident and I will ban them if its legit. Do not flame them back, it makes our work as admins harder figuring out who started it. So if you flame them back, you may get banned too.
@  neddihrehat : (21 February 2018 - 06:49 AM) See you bye
@  neddihrehat : (21 February 2018 - 06:48 AM) Hahahaha,.
@  traderpusa : (21 February 2018 - 06:48 AM) Wife called dinnertime, so Traderpusa out lol. See you later ! Will be back to watch Falcon 9 launch.
@  traderpusa : (21 February 2018 - 06:47 AM) sure, I tell about my life in every shoutbox lol.
@  neddihrehat : (21 February 2018 - 06:46 AM) I like retraces.
@  traderpusa : (21 February 2018 - 06:46 AM) without any indicators.
@  neddihrehat : (21 February 2018 - 06:46 AM) Nah, tell me how are you doing in your life.
@  traderpusa : (21 February 2018 - 06:46 AM) https://gyazo.com/93...e94bb7301c194ef One of the guys just went long on UJ, and look at it go lol.
@  traderpusa : (21 February 2018 - 06:44 AM) The simple break retrace has been working for years, and still does.
@  traderpusa : (21 February 2018 - 06:43 AM) Actually doing fine trading wise. Getting most days my daily profit target, with of course keeping an eye on margin.
@  neddihrehat : (21 February 2018 - 06:42 AM) How are you doing bro? @traderpusa
@  traderpusa : (21 February 2018 - 06:32 AM) cashed in twice today on euro short.
@  traderpusa : (21 February 2018 - 06:32 AM) https://gyazo.com/63...3643845ec11b56c
@  traderpusa : (21 February 2018 - 05:39 AM) just ignore traderpusy lol.
@  neddihrehat : (21 February 2018 - 05:23 AM) Hahahaha
@  shaileshm : (21 February 2018 - 05:23 AM) as if with forex nothing vanishes lol
@  traderpusa : (21 February 2018 - 03:28 AM) seems you woke up from your hibernation lol
@  traderpusa : (21 February 2018 - 03:27 AM) still lazy lol
@  neddihrehat : (21 February 2018 - 03:16 AM) How are you doin?
@  neddihrehat : (21 February 2018 - 03:16 AM) Hi Lazy trader :D

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My Psychological Diary


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#1 hatırlaa

hatırlaa

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Posted 07 February 2018 - 08:44 AM

Since I just noticed there is a topic here called Psychological Tips & Tricks, I decided to share some of key points that I found contribute your trading success. They have been literally milestone of my trading journey. Posts I will share on this topic will help you to trade more emotionless and more progressively. They will not just help you in trading but hopefuly will help you in every aspect of life and investment area.

 

Of course what I will share here wont have mean for you If you do not follow some strategies but I realized that, most of the time things lead your failure are not strategies you use, it is yourself! That s why maybe some of traders say that trading is 75% psychological. You have to have strong decision making process that not affected by emotions so you can apply just what you observed or learnt earlier. But in a field that nothing is constant and all filled with uncertainty, this being indeed a challenging task.

 

You will learn to enjoy your process and your failures. You will learn to see things in a probabilistic manner. These are two major achievements I believe you need to grasp.

 

Some may ask failing is not enjoyable and I have questioned this too!

Let me directly quote the mail that I sent to a trader 3 months ago:

 

 

 

 I am trying to be serious about trading and i want trading be my daily earnings. I prefer trading like what others like since i think it gives freedom in terms of both money and time. But some days i feel like beeing slave of my monitor by looking for opportunities. This is not a professional approach and mind. And knowing that does not help me. I open my platforms at Eu open and watching till late Us session nonstop on my free days. But this affects me in a bad way most of the time. Price slow mostly and doing nothing. After some hours of waiting and waiting i can trade really bad trades. I make poor reasons which are not really good market reading my trades' reason. After some trades i question the validity of the trade that i just took and thinking about exiting. These are really bad and broke my hearth. You said nothing is  a reason to be sad in market but i want to be successful. This is hard.

 

and a part from the respond: 

 

 

 

For any trading problem, there is always a solution. The only reason to stop trading altogether is if you really don't like it. But this should not be a matter of winning or losing, because losing days all part of the game.

 

 

Please feel free to contribute or ask, so we all can learn together. I will post here not just for you guys, for myself as well :D


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#2 hatırlaa

hatırlaa

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Posted 08 February 2018 - 06:55 AM

Attached File  nIZSab_9RwWikvMn3uFrTw1.png   316.27KB   0 downloads

 

Lets think about these trades that I took today and I will compare what I think on that situation with my "old habits" and my "new habits". 

 

PS: This and maybe coming posts could be related more with traders that trade with tp and sl levels. So BO traders may think that this is not my topic but I am sure you can find your lesson without much struggle.

 

On the picture above I closed the first trade with some loss. Then I entered second trade with same direction. Then I felt after the trade I should not take this trade according to my understanding. I was able to leave the second trade with little profit. 

Now lets examine what I would think if I was "old me".

 

Old me: I took a trade. Then it skyrocketed to my SL. Damn what will I do? This does not look good. I should close it. This is not what I would expect. Okay not much problem. Lets watch what it will do. Wow then it came back to lows. It looks it really wants lows. Maybe that could be my next chance. Okay this looks nice I am going to enter this! I entered. But MAN I am not sure. It came back to lows but I have doubts. This move was so quick. What if much traders have this doubt? It needs more time. DAMN I am not sure. I should close this I think. I HATE THIS uncertainty

(After some candles the outcome revealed.) 

Fuck this. I should not have closed this. What did I do wrong? Look how it dropped like a waterfall. It would make me in profit. Look at now I am in minus! (anger comes in)

I should make next trade TP (revenge comes in)

Maybe I can increase the stake so it does not just erase my loss It makes me way ahead! (greed comes in)

 

It depends on you, these emotions could change a bit. But the story is same. Try to see how this affects your decision making process. Do you believe you can trade effectively in this situation? Do you believe you can be profitable like this?

 

Now lets look at how I think now:

I took a trade. Then it skyrocketed to my SL. Damn what will I do? This does not look good. I should close it. This is not what I would expect. Okay not much problem. Lets watch what it will do. Wow then it came back to lows. It looks it really wants lows. Maybe that could be my next chance. Okay this looks nice I am going to enter this! 

 

But uhm this actually does not look good. I should close I guess. Wow I made a little profit thats great! (I know I should not push for this lol). Then it dropped without me. But this does not matter. I did what I need to do. I trust what I know, I trust myself. Maybe this time it worked but next time or many times it may not work. Lets concentrate next trade.

 

Look how I handled the situation. Did I feel revenge, no. Did I feel anger, no. Look now how I can trade again with calm mind, and be profitable. 

 

After you close the trade outcome is not relevant. All you can do for the best is examine the situation and look if you can improve your trading skills. Did you trade wrong, think what you did wrong and can you make it less or what can you do to not trade this again? Take notes the answers! Losses and emotional challanges are part of this business. You need to love them! They build your value. They will create your future identity. They will create that prefessional and profitable trader you always wished about.

 

What do you think about trading? It will always try to frustrate you. 

 

Pullbacks will extend further than you expect, giving a number of false starts before making the final move. Overbought or oversold markets will extend further than your rules say to expect. Your decision, your actions and your results will almost always be sub-optimal when viewed with the benefit of hindsight.

A trader matures the moment they realise this business is no longer one of entry setups, but rather one of managing risk and opportunity within an environment of uncertainty in order to profit over a series of trades. 

 

Hats off to Lance Beggs for the quote above :)

 


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