Forex Help Forum Archive for 04/22/2009

Denver AL 15:25 GMT April 22, 2009
Subject: for Kaprikorn
Sometimes a rest is as good as a holiday. come back with clear definitions of order entry and exit. Do not be a stranger my friend you know how to contact me
Here are those links hopefully working this time:
The Master Swing Trader
Jay and John's book

sofia kaprikorn 14:54 GMT April 22, 2009
Subject: for Kaprikorn
AL -- tnx for the links, I'll get them.

TN ....
I'm humbled by the generosity of the GVI community /especially AL/ for the advice and knowledge offered.

U R correct - I learned TA basics here - then I saw my analysis and charting was correct but my P&L hasn't been sustainable and finally had to admit that my psychological profile had flaws.

I regard that as some progress cuz before I was going from system to system, from book to book looking for smtg I missed. Now I faced the true fact that it's my decision making, trade or risk/money management that was always the flaw - have to admit BOBL is correct that this hard to learn without institutional or other professional training.

I'm not fooling myself and I know I can make money only after I honestly define the timeframe I feel comfortable with and develop and master discipline with a definitive system or a set of rules. I had many ideas but execution again was miserable.

Many times I wrote things like this in the forum but then proceeded as before and the result was .. as before so now while I like this business I have to step back.
Thank all again!

Denver AL 14:08 GMT April 22, 2009
Subject: for Kaprikorn
Heres a link to TNs book rec:
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However a better book is Jay & Johns book
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Toronto tn 13:58 GMT April 22, 2009
Subject: for Kaprikorn Reply   
Kap,
Perhaps you are being too hard on yourself. If this game were easy it wouldn't be worth doing, after all. Don't compare yourself to people with years and years of professional experience in the markets. Everyone has their own trajectory. Take the lumps as an opportunity to try things in a different way. There's an old saying in the film business... "it takes a decade to become an overnight success." Surely that applies to discretionary trading as well.

If I may make an observation based on what I've gleened from your posts (sort of elaborating on what I wrote yesterday). It appears that you have devoted much time in developing your analytical abilites, which are really quite excellent, at the expense of the nitty gritty, nuts and bolts of trading in the trenches. In other words, your ability to see what should be done has outstripped your ability to do it profitably.

Perhaps instead of giving up all together, you would benefit from a radical shift of focus. Leave the analysis aside for now and devote your energies to execution of a simple yet rigid rules based trading method (such as the SIDUS method or the "tunnel" method, or simply following one moving average but doing it with exclusive focus). This may do wonders for your confidence and supplement some skills that you may be missing without even knowing it.

Anyway, hope I'm not being too presumptuous in dishing out advice, it's just that I went through a very similar experience and I found that this helped me immensely. (As a side not, I went in this direction after reading Alan Farley's trading classic The Master Swing Trader, which I highly recommend).

gl/gt

Montréal Taro 12:44 GMT April 22, 2009
Subject: wfakhoury new system Reply   
amman wfakhoury

"Amman wfakhoury 07:55 GMT April 22, 2009
gbp.usd wf sell trading levels map: Reply
Following sell trading levels issued at 0400 gmt"

You said they were issue at 4:00 GMT, but I see them only at 7:55, did I miss something, something I'm not aware ? And where are the buy levels ?

Best regards.