"Just Oil"

Mr, Zero, I cannot say I have a strategy per se. I would call it a method. Position sizing still not methodical. I have been thinking of how to risk more when situation seems very clear directional but have not been able to do so for now.
BTW, those animals do not look like edibles. May be it is humans who are edibles on this picture?

I decided to resume trading same size all the time. 100 lots for now. I wish it were real.

Chikot posted:
Mr, Zero, I cannot say I have a strategy per se.

proper money management pretty much requires that you do have a trading system.

it requires that you do pretty much the same thing, over and over and over, and that your downside and upside are consistent each and every time.

what i am suggesting is a prerequisite in this business of trading.

ask around if you doubt me.

the entry is the difficult part to define, btw, just a heads up.

any dumb bunny can close a trade that is in profit, entering a trade at the right price is the tough nut to crack.

if you need help defining your system, just ask, that is all that you need to do.

what is my reward for doing this? joy, my friend, pure joy.

i'd kinda like to see you make it, know what i mean?

good day sir.

btw, didnt you mention something about your having a new rugrat on the way?

aint no time like the present to start taking this game seriously, what do you say?

now get busy.

oh yes, one final issue, plz extend my most sincere best wishes to your other half, i am sure that she is nothing short of wonderful.

i do love my music videos, karen is pure joy in this clip, i just simply adore her.

if you should ever find yourself confused by me and my approach to things, well, i studied management from the best.

mr adolph is probably the most sure footed manager that i have ever seen, tho i must say that his methods are less than acceptable, lol.

one of his primary tactics was that he was unpredictable.

Chikot posted: I decided to resume trading same size all the time. 100 lots for now. I wish it were real.

if you do not realistically see yourself trading 100 lots in the near future, then stop it already.

if you realistically expect that you might resume trading with $250.00, omg, then practice game trading with that amount.

btw, on metatrader, when you open a game account, it allows you to select from various amounts from a drop down list, but you can also manually enter whatever amount you like in that drop down thingy.

btw, the car in the video is not worth eight million dollars, not by a longshot, but they spent that much building it, lol.

who is going to pay that much for a boat that does 0-60 in 4.6 seconds? a moron, maybe..

i have seen buicks that i liked better.

doctor doomsday/.

Chikot posted:
    Mr, Zero, I cannot say I have a strategy per se. I would call it a method. Position sizing still not methodical. I have been thinking of how to risk more when situation seems very clear directional but have not been able to do so for now.
BTW, those animals do not look like edibles. May be it is humans who are edibles on this picture?

We both want you to succeed. A trade plan and discipline and good risk management. Trading with capital less than $5000 is very hard to do.

Newbeepee posted: Trading with capital less than $5000 is very hard to do.

besides running your mouth, mr margolese, what do you intend to do about this problem of chikot's?

the answer is not a cotton picking thing.

bruce margolese is a professional mouth runner.

i bet that when any person hands to mr margolese so much as a single dollar that once it leaves their hands...

they will never see it again.

but for some reason i like bruce.

i just cant remember why.

😎
 

i meant what i said to you, chikot..

define your game.

properly.

i really do care and am trying to help you.

i am telling you the gospel truth.

absolutely define your trading plan in the form of a flowchart.

plz.

I agree on this one.
I obviously have plan but i tis not in the stone so to speak and I see position sizing as the biggest challenge as I want to know when to push harder and risk more and when to risk less.

joeblow posted:
    i meant what i said to you, chikot..

define your game.

properly.

i really do care and am trying to help you.

i am telling you the gospel truth.

absolutely define your trading plan in the form of a flowchart.

plz.

Yep, $5000 would be way better as $1000 is too little and hard to trade with FXPrimus sizes but still possible.
Anyway, $5000 is not enough to make money too.
My goal is to develop skills, prove them and attract non USA investors or join some firm and trade its capital.

Newbeepee posted:
    

Chikot posted:
    Mr, Zero, I cannot say I have a strategy per se. I would call it a method. Position sizing still not methodical. I have been thinking of how to risk more when situation seems very clear directional but have not been able to do so for now.
BTW, those animals do not look like edibles. May be it is humans who are edibles on this picture?

We both want you to succeed. A trade plan and discipline and good risk management. Trading with capital less than $5000 is very hard to do.

I do have rules. The first one cut losses. and I have some more but not too much but it definitely not a complete system and my increasing experience and gut feeling also play role.

I know you will not accept as truth this post though I might be wrong. I am more experienced than you in life. I really wanted to help you improve your trading. I reached out to help you however you were not ready. I sent you a private email and I really go to you and then I had someone angry at me. Then when GrimFD and the other knockers started up you joined in as a judge making absurd assumptions about myself and my morality.

However this post is more about me than you at the moment so before I get to you I state that I have forgiven you for your lack of understanding about who I really am. You should listen to Edward who has NO hidden agenda.

He really wants to help you. I can help you if I want in only one way. Work hard and when you are ready I can introduce you to other's and perhaps I will let you manage $10,000 of my funds and share the profits 50/50

Take care and be well.

I would also sincerely like to apologize for bringing up personal things about you. I did not walk in your shoes and G-D blessed me with a heart and a soul and good health. I have no right to judge others. I do have the right to judge their behaviour and at times Edward's behaviour leaves a lot to be desired however I respect him and like him and one day will allow him to manage $50,000 of my funds knowing there is a chance he will lose it all. I will make that decision once he shows me that his methods work.

Good Bye Gentleman

I am doing not that bad actually so far. The key is how to identify high probability moments and I do this often but also how to use position sizing in this regard to profit at maximum when moments arrive.
Let's take Thursday. My first trade when I made about 1% on oil short was perfect. a little bit too late but anyway it was good. Exit was premature and later trades before the last were not good as I realized what was going on but could not find lower risk entry. Price was just dropping like a stone. I guess I should have used 1 min chart for this. I failed to notice reversal later despite clear clues to it.
Later I managed to go long and trade losses back but could have done huge trades had I paid attention.
I can only say I do not need to understand cash flows from one market to another to make money in oil trading. I am getting better and better feel for this thing. looking forward to tomorrow Numex session.

Why do most Forex traders lose money then? What human variables contribute to the success rate being much lower than breakeven for most traders?

Perhaps the main reason most traders lose money is because the majority of people have little self-control and cannot resist the temptation to over-trade and over-leverage when there is no one to be accountable to. Another main reason most traders lose money is because they try to buck the trend for some reason, even though they KNOW they have a statistically higher chance of winning by sticking with the trend until it is clearly finished. In this article I will share with you my thoughts on why otherwise totally rational and successful people fall apart when it comes to trading the Forex market.

• Not accepting responsibility for losses and mistakes

As human beings we all have a tendency to pass the blame and find fault elsewhere. However, when you are trading badly, it is your fault and no one else’s. If you find you are losing money in the markets it is not your broker’s fault, nor is it the result of a bad quote, a bad tip, or a hardware failure. There is no mysterious “They” out to get you or steal your money from you. Everything that happens to you in the market, good or bad, is ultimately your fault; blaming anyone else or thing is not going to help you become a successful trader.

Accepting responsibility for your losses and trading mistakes is paramount to turning your trading around. If you use a “tip” or a piece of advice from a broker or from someone else, and you lose money as a result, it’s your fault for listening to them; at least the second time around. The first step in any self-help group like Alcoholics Anonymous is admitting you are the problem and that you have a problem. If you continually blame other people or things for your trading losses, you will never improve your trading because you won’t feel any need to correct your weaknesses if you don’t believe you have any. So, a big reason many traders fail to make money is because they won’t admit they are to blame for their losses. If you want to improve your trading you need to take full responsibility and go into Forex traders’ rehab.

• Over-trading and not trading higher time frames

One thing that definitely prevents most traders from making money in the market is over-trading. Traders who just jump in and out of the market on emotion and greed, will not only suffer many more losing trades, but they will also rack up a lot more fees via spreads and (or) commissions over the course of a year than traders who stick to the higher time frames and understand the value of self discipline and having patience. Trading lower time frames causes many traders to over-trade because they end up thinking they see many more trading signals worth trading, when in reality there is just a lot more “junk” signals and “noise” on lower time frames.

So, if you are currently losing money on a consistent basis and you are trading lower time frames, you will definitely benefit by switching to higher time frame Forex trading.

• Risking too much

How many times have you won a few trades in a row, made some money, and then given it all back quicker than you made it? This happens all too often for traders who have not yet learned to risk the same amount every trade or who have not yet learned to manage their emotions effectively. Trading should not be viewed or treated as gambling, you don’t want to “double down” just because you are up some money. That is not how it works. You have to stop and ask yourself, “Are you a Forex Trader or Gambler?”

As price action traders, our aim is to “master” our trading strategy to the point of knowing exactly what we are looking for in the market every time we sit down behind our computer screen. However, just because you know exactly WHAT you are looking for in the market, this does NOT mean that it WILL work out. Price action trading gives you an “edge”, just like any other method does (although price action is clearly the best way to trade), and what you need to understand is that no matter what your edge is, it’s not going to work out in your favor EVERY time, and you don’t know for sure if any single edge-event will work out.

So, if you are equally confident in every trade you take, because you have mastered price action trading, there really is no reason to risk substantially more or less on any single trade. You want to keep your risk amount approximately constant relative to your total account value. The only time you should increase your risk per trade is if your account value increases, never increase risk per trade just because you feel “totally certain” that THIS trade will work out, because as we discussed above, YOU DON’T KNOW if it will or not.

• Poor Forex trade management / no trade management

If there is one single thing that most traders do wrong who lose money on a consistent basis, it is poor trade management. Every trader knows after a little practice and education on a high-probability trading method like price action, they can pick near-term market direction with pretty good accuracy, at least enough to get into open profit. This is not the hard part of trading. The hard part comes after you enter a trade. Most traders have no forex trade management plan, either because they don’t understand trade management, or don’t think they need to do it. What these traders don’t understand is that they are sabotaging their own effort and potential skill as a trader by thinking they will somehow behave more logically and effectively AFTER entering a trade than BEFORE. This is just ridiculous. No human being on Earth will be more objective or less emotional than they will be when there money is NOT on the line. It’s a fact of human psychology that when something you care about (money, relationship, etc) is at risk, you become more emotional. Everyone knows this. So, if you are guilty of not managing your trades BEFORE entering them, accept responsibility right now and start changing it.

A related topic here is having a Forex trading plan. Your trade management plan should just be one part of your overall Forex trading plan. If you don’t have a written down plan of attack on how you will trade the markets, you are probably going to go nowhere fast. Your trading plan should also include a Forex trading journal.

Any man who wears black nail polish to go visit strippers has a morality problem Bruce. That I can assure you. And a self image problem, and a bit of gender confusion and a few other issues...

Now as far as admitting problems go, how about admitting that -40% on the NAV isn't a profit? What's it now I wonder or that account been margin called?

But now I'm ruining chikot's oil thread. Just want to point out that if you had even half an idea what you were doing you wouldn't continue to lose money, even on demo.

<i>Black has been a popular color of nail polish with goths, Emo and punks of all genders since the 1970s, and has recently gained acceptance as a color for both men and women.</i>

Maybe he's emo or punk? Or one of those cross dressers? Anyway black is still better than say pink on a man. 😄

Chikot posted:
I agree on this one.
I obviously have plan but i tis not in the stone so to

speak and I see position sizing as the biggest challenge as

I want to know when to push harder and risk more and when

to risk less.

joeblow posted:
i meant what i said to you, chikot..
define your game.
properly.
i really do care and am trying to help you.
i am telling you the gospel truth.
absolutely define your trading plan in the form of a

flowchart.
plz.

mr chikot,

listen to me as carefully as you can..

the first thing to do is to define the rules for your

entry.

period.

and no, we do not enter because we feel good about it, we

do not ever do that.

find one or more indicators, perhaps, maybe when rsi is

below -x you go short/long and when it is above +x you go

short/long.

i do not use rsi, so i dont even know what the numbers look

like on the rsi, so whatever..

anyways, lets define your entry rules first.

there is nothing else that you should be paying attention

to at this time.

i will expect that your undivided attention will be applied

to this task.

we have several other issues to cover, so if we can just

get this knocked out, then we can move forward.

and, hey, if you can not carry out a simple directive such

as this simple issue, how are you ever going to sit on my

board of directors?

captain getbusy/.

I have rules for entries but it is price levels, no indicators.

Chikot posted: I have rules for entries but it is price levels, no indicators.

mr chikot,

would you mind defining for me specifically what you mean by <i>price levels</i>?

thank you sir.

hard to explain. gotta watch market for some time before seeing it.