P
Piper
Guest
Hi guys!
I’m Piper, and this is the story of my short journey in the trading world. 1st of all I'd like to apologize if my grammar is s****y, English isn't my native language, and I’m a bit upside down right now..
I've first heard about Forex from my father, who went to a broker for an introductory curse (not a spelling mistake) that been a whole 3 times 3 hours "professional" seminar to convince people that all u need is a computer, a forex account and it'll start spew out money. What's weird that hes really an educated man(an electrical engineer),who hates gambling and doesn't have any bad habits(he doesn't even drinks coffee ffs). So he opened a 5k live account. Long story short , i still remember my Mother screaming three months later, after a busted account.. That's the encouraging family history of trading.
So six years later a fed up with a boring and mentally not challenging work(what i can't leave right now because some unlucky family circumstances mixed with a bit of financial disaster.. Darn never let your sister to travel without health insurance) started to take interest in trading. I've purchased a paid course on stocks. It was a seminar of 24 hours, about an hour and half each lesson, and devoured it after work in about a week (my social life isn't what it used to be after i got to trading ;D). I've felt king of the world with all the knowledge that my "adored" and claimly successful teachers generously shared with me(they said something about 50% average per month in the vids with no evidence whatsoever)for a not so generous price tag. I started to paper trade with a simulator, loaded up some charts with some flashy bling indi's and felt like a total pro, lined em up with a lot of imaginary S/R and trend lines, untill it looked like I spider web and couldn’t really even see the chart,I didn’t really minded since the top secret properitary 5-6 lagging indis will tell me by agreeing confluence what the price will do. Noticed slowly that the proprietary indicators and the top secret strategy aren't really working .After two weeks of highly intensive demo trading, it seemed like i even have a bit of more success when i do exactly the contrary of what they've said.
A bit fed up,on one of my surfing roams discovered babypips .At the front of the page i've red the words forex /currency trading, they've lit a bit of a red light, but told my self: well u got nothing to lose, except some time. Finished the school, which marvelously reminded me(1 on 1 identical) the course I’ve bought with my hard earned money, except the fx concepts and correlation.
I've suddenly remembered the saying, that 95% of the traders failing. The conclusion was pretty obvious, well if everybody learning the same concepts, no wonder.. But decided not to give up. Chatted with some guys at BP where everybody was boldly claiming their great monthly 3 to 4% achievement, from what can't be done better(i respect their achievements, but not their attitude),then some cracks who claimed scalping of 3-4 pips with lot of lots and making 50 mill's in the process(yeah and now he's achieved hes money goals so started to pile up a ton of gold). Whatever. This was the day i've decided enough is enough, time to leave BP. Than already with the cursor on the close button of the browser, i've noticed some never seen thread before with protraders in its name at the newbie island section just jumped up.
-Pro?!Here?!?!All i've met a bunch of crack's and blind leading the blind.
Out of curiosity clicked the link, a bunch of dead links some guy named ICT.. Hmm been reading a post then two. Then found out about the What every aspiring forex trader wants to know.My eyes opened wide after the first few pages..Finally someone sounded professional ,with actual explanations why the things are working the way they are.. Even tough seems like he also had enough of the cracks around there and left.. Darn I’ve missed him by a month or two Removed all the vids :’( But lucky me, some guy named Clark posted them. I don't know you Clark, but a lot of kudos for upping the vids!!!
A month and a half later after i've finished the two thread of about 2k pages and watched most of the vids.(yup all of them,s kipped work a few days to stay home, haven't slept some night's to read the threads and watch the vids ). And some threads with a lot of hate to ICT, who seemed to devote a lot of time and effort to teach people. Although I could understand their frustration, because you need great dedication and effort to understand he’s methods and practice a lot until you can execute them properly(great things aren’t going to happen without great effort!). But what I saw was a whole community getting together to bash somebody, and from what I suspect, because he ain’t ready to give trading signals(although in hes every review he gives away price points that even if you just actually focus and listen u can get some bomb entrys. Conclusion: they aren’t even ready try to understand what laid in front of them). This was the time I understood that I don’t want to be part of a community like that. I've decided to renew my decision to leave of BP forever and never go back .I’ll just use the Myfx EC.
So i opened a demo account, and started to trade with my new "techno-fundal" super plan. Digged in COT reports, open interest until it finally clicked. Started to discover all the great concepts of range trading with htf analysis applied down. Fibs and pivots. Learned a lot about the market, how its working, and why its working the way it works(bonds yields futures and money in general) It worked great(It simply gives you a great feeling when a limit order triggered and it shoots out 50 pips in less then a minute).When it didn't, I usually found my mistakes by stuff that i've missed, or just sheer stupidity of acting on gut feelings on my part. Started to devour tech books by Larry Williams,Chris Lori, Mark Douglas and Laurence Connors, learned some more stuff, while applying them on the fly.
In about 2 and a half moths i've tripled my 1st forex demo account(never busted a demo account untill now,yay). This was on tuesday,last week.
By the deal i've made with my self,it was time to go live trading.
This Monday ,my brand new shiny 2k live account waited for me to start. Started to trade. In the LO upped it by 4%. Same day finished with a drawdown of gross 5%(1.88k). Been a bit nervous. Specially because of ultra stupid mistakes(including things like i'm sitting with a printed out dollar chart right before my eyes,with a clearly marked red line i drew in my weekend analysis, of about 4 confluences ,and not paying attention to it, letting losses run, and cutting wins short). Went on to relax and blow some steam off.
Tuesday got up. Finished my daily analysis.I did some really bad trading,with cutting winners very early(caught almost every damn swing point on a cable Z-day and cutted them off early at 1st sign of reversal )and took on bad on the fiber(really really bad),but finished with 15%gross (2.2k)The 90 pips i got out is great, no complaints here(if I would just let the price run and finish on limit instead of “managing” my position that would be 250+ pips).
Yesterday i've got up,drank a cup of coffee,and turned the charts on.Had a big grin on my face.While i slept a cable sell limit got in,40 pips in the morning never feels bad.With a preimise on my mind the trade after it rode the morning judas closed the short and went long at 1.50835 and I actively managed it to stoploss at 1.5092, on the last retracement of a 150 pips rally. Now that’s made me angry and annoyed. (It seems that my trades managing them selves better than I do ) Started a pretty “interactive” trading session out of fustration. It was a disaster as I’m reflecting on it now I’ve made every possible mistake, and violated almost every rule in my book. Could have made a lot, with a bit of discipline and patience. Instead I’ve entered an emotional roller coaster. A few times there were some prayers to all kinds of forex deities like:”Please God let me just get BE on this one!”Well they didn’t really listened..Yet finished the day with 2.25K balance and 2.35K equity, as it is right now. My myfxbook balance looks like Fibonacci retracements(at least in an uptrend for now). Still I’m pretty content with almost 20% gain although it could be much more.
Suddenly recalled a sentence from the Trading in the Zone: You can be the best analyst in the world, and your trading will still suck.(That’s the book that I’ve throw aside in my infinite wisdom after the 1st chapter). At the evening I’ve decided that I’m pretty much done for the week, except managing my two open position trades. Started to read again the Zone book, and I’ll focus on developing more discipline and patience.(Maybe I’ll sign up to yoga or something).
I really like this site, the 1st article that focuses on trading psychology is one of the best I saw about the topic! Keep up the great work!
And of course a big thanks goes to the following people for greatly contributing to my development as a novice trader:
Larry Williams,
Chris Lori,
Laurence Connors,
John Murphy,
Mark Douglas,
Jack for the great article on the front page
And last but definitely the most:
Mr. ICT Michael "Yoda" Huddlestone
Cheers,
Piper
I’m Piper, and this is the story of my short journey in the trading world. 1st of all I'd like to apologize if my grammar is s****y, English isn't my native language, and I’m a bit upside down right now..
I've first heard about Forex from my father, who went to a broker for an introductory curse (not a spelling mistake) that been a whole 3 times 3 hours "professional" seminar to convince people that all u need is a computer, a forex account and it'll start spew out money. What's weird that hes really an educated man(an electrical engineer),who hates gambling and doesn't have any bad habits(he doesn't even drinks coffee ffs). So he opened a 5k live account. Long story short , i still remember my Mother screaming three months later, after a busted account.. That's the encouraging family history of trading.
So six years later a fed up with a boring and mentally not challenging work(what i can't leave right now because some unlucky family circumstances mixed with a bit of financial disaster.. Darn never let your sister to travel without health insurance) started to take interest in trading. I've purchased a paid course on stocks. It was a seminar of 24 hours, about an hour and half each lesson, and devoured it after work in about a week (my social life isn't what it used to be after i got to trading ;D). I've felt king of the world with all the knowledge that my "adored" and claimly successful teachers generously shared with me(they said something about 50% average per month in the vids with no evidence whatsoever)for a not so generous price tag. I started to paper trade with a simulator, loaded up some charts with some flashy bling indi's and felt like a total pro, lined em up with a lot of imaginary S/R and trend lines, untill it looked like I spider web and couldn’t really even see the chart,I didn’t really minded since the top secret properitary 5-6 lagging indis will tell me by agreeing confluence what the price will do. Noticed slowly that the proprietary indicators and the top secret strategy aren't really working .After two weeks of highly intensive demo trading, it seemed like i even have a bit of more success when i do exactly the contrary of what they've said.
A bit fed up,on one of my surfing roams discovered babypips .At the front of the page i've red the words forex /currency trading, they've lit a bit of a red light, but told my self: well u got nothing to lose, except some time. Finished the school, which marvelously reminded me(1 on 1 identical) the course I’ve bought with my hard earned money, except the fx concepts and correlation.
I've suddenly remembered the saying, that 95% of the traders failing. The conclusion was pretty obvious, well if everybody learning the same concepts, no wonder.. But decided not to give up. Chatted with some guys at BP where everybody was boldly claiming their great monthly 3 to 4% achievement, from what can't be done better(i respect their achievements, but not their attitude),then some cracks who claimed scalping of 3-4 pips with lot of lots and making 50 mill's in the process(yeah and now he's achieved hes money goals so started to pile up a ton of gold
). Whatever. This was the day i've decided enough is enough, time to leave BP. Than already with the cursor on the close button of the browser, i've noticed some never seen thread before with protraders in its name at the newbie island section just jumped up. -Pro?!Here?!?!All i've met a bunch of crack's and blind leading the blind.
Out of curiosity clicked the link, a bunch of dead links some guy named ICT.. Hmm been reading a post then two. Then found out about the What every aspiring forex trader wants to know.My eyes opened wide after the first few pages..Finally someone sounded professional ,with actual explanations why the things are working the way they are.. Even tough seems like he also had enough of the cracks around there and left.. Darn I’ve missed him by a month or two
Removed all the vids :’( But lucky me, some guy named Clark posted them. I don't know you Clark, but a lot of kudos for upping the vids!!!A month and a half later after i've finished the two thread of about 2k pages and watched most of the vids.(yup all of them,s kipped work a few days to stay home, haven't slept some night's to read the threads and watch the vids
). And some threads with a lot of hate to ICT, who seemed to devote a lot of time and effort to teach people. Although I could understand their frustration, because you need great dedication and effort to understand he’s methods and practice a lot until you can execute them properly(great things aren’t going to happen without great effort!). But what I saw was a whole community getting together to bash somebody, and from what I suspect, because he ain’t ready to give trading signals(although in hes every review he gives away price points that even if you just actually focus and listen u can get some bomb entrys. Conclusion: they aren’t even ready try to understand what laid in front of them). This was the time I understood that I don’t want to be part of a community like that. I've decided to renew my decision to leave of BP forever and never go back .I’ll just use the Myfx EC. So i opened a demo account, and started to trade with my new "techno-fundal" super plan. Digged in COT reports, open interest until it finally clicked. Started to discover all the great concepts of range trading with htf analysis applied down. Fibs and pivots. Learned a lot about the market, how its working, and why its working the way it works(bonds yields futures and money in general) It worked great(It simply gives you a great feeling when a limit order triggered and it shoots out 50 pips in less then a minute).When it didn't, I usually found my mistakes by stuff that i've missed, or just sheer stupidity of acting on gut feelings on my part. Started to devour tech books by Larry Williams,Chris Lori, Mark Douglas and Laurence Connors, learned some more stuff, while applying them on the fly.
In about 2 and a half moths i've tripled my 1st forex demo account(never busted a demo account untill now,yay). This was on tuesday,last week.
By the deal i've made with my self,it was time to go live trading.
This Monday ,my brand new shiny 2k live account waited for me to start. Started to trade. In the LO upped it by 4%. Same day finished with a drawdown of gross 5%(1.88k). Been a bit nervous. Specially because of ultra stupid mistakes(including things like i'm sitting with a printed out dollar chart right before my eyes,with a clearly marked red line i drew in my weekend analysis, of about 4 confluences ,and not paying attention to it, letting losses run, and cutting wins short). Went on to relax and blow some steam off.
Tuesday got up. Finished my daily analysis.I did some really bad trading,with cutting winners very early(caught almost every damn swing point on a cable Z-day and cutted them off early at 1st sign of reversal
)and took on bad on the fiber(really really bad),but finished with 15%gross (2.2k)The 90 pips i got out is great, no complaints here(if I would just let the price run and finish on limit instead of “managing” my position that would be 250+ pips).Yesterday i've got up,drank a cup of coffee,and turned the charts on.Had a big grin on my face.While i slept a cable sell limit got in,40 pips in the morning never feels bad
.With a preimise on my mind the trade after it rode the morning judas closed the short and went long at 1.50835 and I actively managed it to stoploss at 1.5092, on the last retracement of a 150 pips rally. Now that’s made me angry and annoyed. (It seems that my trades managing them selves better than I do ) Started a pretty “interactive” trading session out of fustration. It was a disaster as I’m reflecting on it now I’ve made every possible mistake, and violated almost every rule in my book. Could have made a lot, with a bit of discipline and patience. Instead I’ve entered an emotional roller coaster. A few times there were some prayers to all kinds of forex deities like:”Please God let me just get BE on this one!”Well they didn’t really listened..Yet finished the day with 2.25K balance and 2.35K equity, as it is right now. My myfxbook balance looks like Fibonacci retracements(at least in an uptrend for now). Still I’m pretty content with almost 20% gain although it could be much more.Suddenly recalled a sentence from the Trading in the Zone: You can be the best analyst in the world, and your trading will still suck.(That’s the book that I’ve throw aside in my infinite wisdom after the 1st chapter). At the evening I’ve decided that I’m pretty much done for the week, except managing my two open position trades. Started to read again the Zone book, and I’ll focus on developing more discipline and patience.(Maybe I’ll sign up to yoga or something).
I really like this site, the 1st article that focuses on trading psychology is one of the best I saw about the topic! Keep up the great work!
And of course a big thanks goes to the following people for greatly contributing to my development as a novice trader:
Larry Williams,
Chris Lori,
Laurence Connors,
John Murphy,
Mark Douglas,
Jack for the great article on the front page
And last but definitely the most:
Mr. ICT Michael "Yoda" Huddlestone
Cheers,
Piper
