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jamiecassar's trade journal

  #71 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,645 since Jul 2012
Thanks Given: 1,890
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Jamie -

Please, for the sake of your dwindling capital, and the sake of your baby daughter, please please please STOP TRADING WITH REAL MONEY!


I'll be blunt:
You are the poster child of someone who should not be trading.



Take 6-12 months off, learn all you can, but don't go live until you are better prepared.

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  #72 (permalink)
 jamiecassar 
Rochester MN
 
Experience: Beginner
Platform: Oanda
Trading: Micro-FX
Posts: 82 since Jan 2014
Thanks Given: 178
Thanks Received: 29


Big Mike View Post

I can only encourage you to go thru this entire thread very carefully:



Mike

I have been reading this thread on and off I'm about 10 or so pages in. Not sure what you guys are talking about me being on the wrong path, other than the emotions

"Judge yourself not by the outcome, but by your process."
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  #73 (permalink)
 jamiecassar 
Rochester MN
 
Experience: Beginner
Platform: Oanda
Trading: Micro-FX
Posts: 82 since Jan 2014
Thanks Given: 178
Thanks Received: 29



kevinkdog View Post
Jamie -

Please, for the sake of your dwindling capital, and the sake of your baby daughter, please please please STOP TRADING WITH REAL MONEY!


I'll be blunt:
You are the poster child of someone who should not be trading.



Take 6-12 months off, learn all you can, but don't go live until you are better prepared.

I have a $5 account, I don't consider it going live, but just practicing I am trading nano-pips

"Judge yourself not by the outcome, but by your process."
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  #74 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,645 since Jul 2012
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jamiecassar View Post
I have a $5 account, I don't consider it going live, but just practicing I am trading nano-pips


Again, I apologize for being blunt...


You are missing the point. You are acting as if you are ready to play the game. You are clearly not ready.

All your practicing is just circumventing the real learning process.

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  #75 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
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Trading: Stocks & Futures
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jamiecassar View Post
I have been reading this thread on and off I'm about 10 or so pages in. Not sure what you guys are talking about me being on the wrong path, other than the emotions

Read the entire thread (90+ pages as of today) and it will be obvious. If it is not obvious there is a bigger problem. I'll give you a hint: the mistakes you are making are repeated over and over and over again in this thread, so that should tell you that you are on the wrong path.

Mike

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  #76 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695

STOP. Breath, read, and learn.

Where you are is where I was 3-4 months ago. And it is really hitting me today because I got my tax papers for last year from my broker and saw my loss in ink. $6k+.

Visit how to trade online using the [AUTOLINK]Brooks[/AUTOLINK] Trading Course and purchase the course. Watch the videos through and through multiple times.

The course cost $249, if you can't afford it, then you can't afford to trade. I ride motorcycles and I equate Al's course to the Motorcycle Safety Course that some states require. It won't make you a MOTOGP Champion, but it will teach you what it takes to stay upright on two wheels.

Others have noted about the leverage in futures markets. You can and will lose more than is in your account if you do not understand what is going on. I will use the ES to illustrate: @ 1800 x $50 a point, one ES contract is $90k. Every time you buy or sell you are doing a transaction that is equal of a 2008 Maserati Grand Turismo. Trade 10-11 in a day and you have handled a $1M.

No indicator, guru, or system will make your profitable. Price action is the only thing that will give you an edge, after that indicators are only used to give you hindsight info about what just happened not what is about to happen. Price action won't even tell you what will happen next. The best it will do is give you an idea of the current context of the market and an idea of the probabilities of the current trade.

Build your risk capital, and I mean real risk capital. One that you could light on fire on your desk and it will not change your life. I trimmed my hobbies and luxuries over the last 4 months to build my risk capital. If I lose that money it doesn't matter, I still have my day job, I still have my emergency fund for my family. And I still have non-liquid assets that could be sold if my family needed. None of those affect my risk capital and none of them are risk capital.

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  #77 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,534

Just an FYI since Al Brooks was mentioned, there is a special promotion for Elite Members, you can find here:

https://nexusfi.com/elite_membership/

Note: Big Mike Trading does NOT receive compensation for these referrals, we simply worked out these special deals to help our Elite Members who have chosen to support the site. Even though we believe these are great products and services, you should always do your own research before doing business with a company.

Mike

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  #78 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,534

For the record, I like Al Brooks. But chasing yet another system is just a continuation down the wrong path. Don't do it.

Mike

We're here to help: just ask the community or contact our Help Desk

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  #79 (permalink)
 jamiecassar 
Rochester MN
 
Experience: Beginner
Platform: Oanda
Trading: Micro-FX
Posts: 82 since Jan 2014
Thanks Given: 178
Thanks Received: 29


kevinkdog View Post
Again, I apologize for being blunt...


You are missing the point. You are acting as if you are ready to play the game. You are clearly not ready.

All your practicing is just circumventing the real learning process.


It's fine. I actually appreciate everyone being critical of me. I treat my practice account as if it were real. If you think of it as only $5 then you loose a dollar, you might think, NBD (no big deal), but for me I view it as 20% and was crapping my pants. I don't have the consistency yet, I know this. I do appreciate everyone giving me feedback, please feel free to speak your minds

"Judge yourself not by the outcome, but by your process."
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  #80 (permalink)
 jamiecassar 
Rochester MN
 
Experience: Beginner
Platform: Oanda
Trading: Micro-FX
Posts: 82 since Jan 2014
Thanks Given: 178
Thanks Received: 29



Big Mike View Post
Read the entire thread (90+ pages as of today) and it will be obvious. If it is not obvious there is a bigger problem. I'll give you a hint: the mistakes you are making are repeated over and over and over again in this thread, so that should tell you that you are on the wrong path.

Mike

I will investigate, and look deeper within myself. Thank you for helping me I really do need it =S

"Judge yourself not by the outcome, but by your process."
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Last Updated on March 11, 2014


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