Hi Mick
I am human to hence some losses now then. Up until early last year my trading was out of control to say the least. I did not wipe any accounts though but I was very unhappy it felt more like my profits ( although more than the losses ) where only lucky rom trades...
I watched a free movie clip on the net of a very exited trader who gave a seminar of his system. I never traded or attempted to trade his system but surely enough after watching that clip my trading changed... Until today I do not underst what made me decide to stop messing about with loosing trades simply cut their cordes when the reason for entering a trade does not exitst anymore. I knew this well before watching the clip but that day I decided to act it out...it was just the way this fellow was going on his whole outlook on the markets that somehow just triggered the response...
then on I still had many loosers but they have become minute in comparrison to my winners... I have never had any trouble with greed as I am a very impatient person thus get out of trades to soon most of the time I simply do not sit wonder about if this thing can go any further or not... fear I must say I have gotten under control as well.
I under went a total psycological reform period. I decided that I will meet trading half way change my lifestyle to that what was neccessary to make consistant profits. I moved to a farm where no one bothers me I have basically become a hermit as I do not wish to be influenced by outsiders. I worked very hard to supress bad habits etc. I trade very mechanically now using Fibs divergence systems with great success. Did two scalps on GBP this morning 2 on Eur Euro's one went to hell for only 2 point loss... the other winners made 26.5 points in total...
The point I wish to make now is that if I did not undergo this reform realize the things I did did not make the changes to my style of trading I would perhaps have not survived trading to enable me to still be hear type all of this...
The second point is more a personal one which is that I can htly now say that I place millions of times more value on my psychological profile state of mind that I have created than my capital in my accounts...it is of most value to me I defend protect it at all cost...
The key to success for me was in the realization that losses simply can not overpower winners...simple as that...
So now here I am trading a simple Fib/Divergence system sure I take some knocks here there because of a strong reversal which zooms through all the retracement levels never looks back to see my splat of blood against the wall but this is how it is...it is about statistics... cheeting lying to elf about trades that has gone bad is almost criminal by forex law.
Since I started trading in general I have learned to know myself in ways that most people will never know themselves I count this as a total blessing...
Trading is not difficult there are pips all over the place...that is a truth loosing now then is a truth but lying denying losses in all sorts of creative ways does not gell well with truths...
I need to be in the water to catch the waves how much does it cost me to be in the water is my angle to this... so I will need to hang around on my board drifting arround waiting for the perfect wave as to speak...as long as this leasurly idle time does not cost me a fortune I will survive...
Losses is a reminder that I am still in the water in the right place to catch the waves ... denying them is ignoring the message that I am at this spot just before a possible big wave the end result is I get out of the water to lick my wounds miss the wave cause I chose to ignore the message because I denied the truth of loosing...
The END.
Hope I do not boar you to death with this that it is suitable for this thread.
Good luck many good trades to you all other fellow traders.
FX Sniper
Licensed Brokers
Gone was my +120.
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