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    Page 88 of 143 FirstFirst ... 83 86 87 88 89 90 93 ... LastLast
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    Thread: MartyFish's - Trading journal

    1. #871
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      It is never possible that we catch all the moves in the market, and when we are in profits no matter how little it is, we have to be appreciative, so that we will not be trading under aggression next times.
      When you very much appreciates your little profits then it would make you start working hard for more and it motivates you to keep on making it on a consistent level. Personally, I always get inspired to do more each time I am blessed with small profits on my trades, I do not take it for granted because that leads to careless trading!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades

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    2. The following 6 users say Thank You to penuelophir for this useful post.

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    3. #872
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      If you are planning to catch virtually every move that happens in the forex market, it will make you more like a robot or better put a forex zombie, you just cannot be moved by every thing that seems to be happening with price, as a matter of fact you will be exhausted in doing that, it is even pointless because there will be opportunities in the future that you will regret missing because you have already blown your account, so what's the use of pursuing what is not running away, you will always be grateful for money management.

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    5. #873
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      Quote Originally Posted by Oghale View Post
      If you are planning to catch virtually every move that happens in the forex market, it will make you more like a robot or better put a forex zombie, you just cannot be moved by every thing that seems to be happening with price, as a matter of fact you will be exhausted in doing that, it is even pointless because there will be opportunities in the future that you will regret missing because you have already blown your account, so what's the use of pursuing what is not running away, you will always be grateful for money management.
      I have had very fantastic trading system but each time I keep dumping them because I lack the capacity to manage loses, this is why it is very important that one develop a good money management policy, this cannot be over emphasised because it is key to success.

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    7. #874
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      Quote Originally Posted by Oghale View Post
      If you are planning to catch virtually every move that happens in the forex market, it will make you more like a robot or better put a forex zombie, you just cannot be moved by every thing that seems to be happening with price, as a matter of fact you will be exhausted in doing that, it is even pointless because there will be opportunities in the future that you will regret missing because you have already blown your account, so what's the use of pursuing what is not running away, you will always be grateful for money management.
      you are right bro, i like this your explanation, catching every move in the forex trading market is like using a robot, and even a robot van catch all the possible opportunities in the market, and if it did, why is it that most trader ignore the robot, its because its not a good idea of trading forex, we need to take our time in making solid analysis and be very patient in taking a trade as well, we need to try as much as possible to make it perfect, and if it doesn't yield a perfect result, we need to move on

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    8. The following 2 users say Thank You to sonibark for this useful post.

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    9. #875
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      Quote Originally Posted by ehizmac View Post
      I have had very fantastic trading system but each time I keep dumping them because I lack the capacity to manage loses, this is why it is very important that one develop a good money management policy, this cannot be over emphasised because it is key to success.
      I have had and dropped many trading system that are good too, but when i realized that i am doing style drift in the market, i change my way of trading immediately, and i make sure that i am getting better in the market at all time. I have many trading systems in my saving journal now, and they are all good for me to have my switch about them. Not that i will be droping them and fortting them in the search for a better way to trade the market. That way will only cause traders more pain than the success needed.

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    11. #876
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      Quote Originally Posted by MartyFish View Post
      See the moves of last 5 days on GN:-

      1st day = down 200 pips.
      2nd day = further down 250 pips (total 450 pips down in 2 days).
      3rd day = sudden 270 pips reversal to upside.
      4th day = further up 290 pips (total 560 pips up in 2 days).
      5th day = bang down 380 pips.
      Wow amazing, mate! You are master trader, you count everything accurately!
      Although i also use candlestick but i really lazy to count like that.

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    13. #877
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      @Update:-

      I don't know if anyone remember's it or not. But when I started on this forum some 5 months ago. My aim was to make my starting capital grow as bigger as it's possible. At that point, I was expecting to grow my starting capital to somewhat 10x to 20x in a year. And, I had said that I will start my this project in early 2018, as I wanted to test my trading skills & capabilities in the live market, to draw out a plan or to know my strength & weakness with which I can trade in most efficient manner using the highest possible risk per trade & still managing to prevent a margin call or decline of entire capital.

      So, after a 5 month rigorous testing or trading in live market, I can finally say that I am ready to start my this awaited project, it may sound very insane for most but I have invested a lot of time & efforts to be able & be capable of managing such aggressive plan & I hope that I would perform, to aleast some part of my expectations and prevent my account from complete decline / margin call.


      My New Trading Project:-

      1. Starting Capital $1000 (Instaforex Real Account).

      2. Risk per Trade 20% (Lotsize will be calculated everytime based on current capital's 20% + the stoploss that I would use).

      3. Trading Pair Priority :- GN > GA > GJ (mostly will be trading in GN & only if conditions on GN becomes difficult to trade I would shift to other pairs i.e GA & GJ, so at a time only 1 pair monitoring).

      4. Trading Timeframe :- H1, H4 & Daily (once a trade is triggered from a TF, it will be monitored on a every new candle open / on a candle close on that TF).

      5. Entry:- An entry would be taken on the basis of my analysis & I would be taking an entry only when I am 100% sure that it has 100% probability of turning out to be a winning trade. (thus entries won't come that often, I will be very choosy with them).

      6. R:R :- I would be trading them 2:1, 1:1, 1:2, 1:3, 1:5+ depending on the market conditions & my confidence into it.

      7. Exit:- I would be monitoring all my trades on candle to candle basis, so i would close or exit my trade whenever I feel there is lost in momentum, weakness or when I feel I have picked a wrong entry. (I can exit my trade anywhere though I will have TP & SL for every trade but I wont wait for that too be hit, if trade shows something against it, I would close it down to minimize my loss or to escape away with the available profit).

      8. SL Hit :- After a SL hit, I would lose my 20% of capital & once that happens I would stop my trading & rework/revise everything & would start trading again only when I am coming back strongly & feeling confident.

      9. Profits :- I won't be withdrawing any profits from this account & will be compounding them, to make my capital grow at a faster rate.

      That's it, It is a very aggressive approach but aggressiveness is needed if you want to aim to grow your capital into 10x 20x.

      I would start trading on this account as soon as I get my next first setup. Don't know how this would end but very eager to try this out, as I was planning on doing this for a quite sometime & had worked a lot on it, let's see how far I can take it or ends up with blowing $1000.


      *Note:- Don't try this at home or anywhere. It is a very risky & aggressive approach. I have invested the amount that I can afford to lose, I would be okay if I lose all $1000 tomorrow. So, if you want to do or even try this then do it only with the capital that you can afford to lose. Because here the chances of losing the capital is much more than making consistent profits.

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    14. The following 10 users say Thank You to MartyFish for this useful post.

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    15. #878
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      I would start trading on this account as soon as I get my next first setup. Don't know how this would end but very eager to try this out, as I was planning on doing this for a quite sometime & had worked a lot on it, let's see how far I can take it or ends up with blowing $1000.
      I wish you all the best with your new project and I do believe that you would do very well, because you have already mapped out your effective trading strategy and good plan, and these are the backbone of successful forex trading. With huge discipline to always stick with your plan and trading rules then you are good to go!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades

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    16. The following 4 users say Thank You to penuelophir for this useful post.

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    17. #879
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      nice trading plan bro, i really wish you good luck on the challenges that lie ahead, sorry to say, there will definitely going to be challenged but your plans and good trading knowledge and a good trading strategy will be the one to guide you past that, with good money management, am sure your capital is enough to make good profit

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    20. #880
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      Quote Originally Posted by penuelophir View Post
      I wish you all the best with your new project and I do believe that you would do very well, because you have already mapped out your effective trading strategy and good plan, and these are the backbone of successful forex trading. With huge discipline to always stick with your plan and trading rules then you are good to go!
      Quote Originally Posted by sonibark View Post
      nice trading plan bro, i really wish you good luck on the challenges that lie ahead, sorry to say, there will definitely going to be challenged but your plans and good trading knowledge and a good trading strategy will be the one to guide you past that, with good money management, am sure your capital is enough to make good profit
      Thanks for the encouragement but still 20% risk per trade pressure is enough to make you go off track & unfollow your rules. And, surely here, only discipline & patience to handle the pressure & trade with high accuracy, will help me to get going.

      Had applied for a deposit in a new account yesterday through bitcoin got it deposited, thanks for instaforex bitcoin rates, I got more funds deposited in my account then I was expecting. I was expecting around $1050 (as per live btc rate) for 0.124 btc but got $33 more i.e instaforex gave me best rate of around $8700 for 1 btc.

      I would be trading this project in a seperate real account with $1083.00 starting capital and will also be trading my bonus & other real account normally with 2-5% risk per trade as usual.

      Exicted to trade with high risk in this account, my first target now would be to achieve a 100% return i.e $2000+ balance or capital.

      I would be updating my account statistics periodically & will keep the journal updated about it.



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