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TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF
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TEN-THOUSAND IN EDUCATION, FINALLY PAYING OFF

  #81 (permalink)
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bobbyacim View Post
I AM NOW GOING TO ONLY TRADE THE LONDON OPEN FOR THE FIRST 1/2 AND WILL ONLY TAKE A BREAKOUT OF THE OPENING RANGE WHICH M.P. APPEARS TO LEND ITSELF TO. IF THIS DOES NOT RECOVER MY LOSES, I AM GOING TO BREAK MY LAPTOP INTO A MILLION PIECES, SHRUG OFF 5 YEARS OF MY LIFE AND FORGET COMPLETELY ABOUT TRADING!!!!!



Clearly you are an emotional trader, but were you trading with REAL $$$$$ on a system/methodology that you have not MASTERED???

And were is your Master Reva??? .... to guide you and Mentor you???

So now you want to trade ONLY the London open for first 1/2 hour only......WHY???

Ask yourself....are you still in REVENGE MODE???

Ask yourself...are you feeling DESPERATE???

And if you did lose AGAIN....why DESTROY a wonderful piece of technology???

Please, take pause, get control of yourself, get control of your emotions...bluemele is correct....it's only money. Just regroup...and approach your situation with a more level head.

Market Profile works....just take the time to READ it CORRECTLY...that means...YOU are the solution to your problem.

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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  #82 (permalink)
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bobbyacim View Post
Unfortunately,
.... IF THIS DOES NOT RECOVER MY LOSES, I AM GOING TO BREAK MY LAPTOP INTO A MILLION PIECES, SHRUG OFF 5 YEARS OF MY LIFE AND FORGET COMPLETELY ABOUT TRADING!!!!!

remind me of the guy who said if he can't make a certain number after 30 days he will quit for good.
His first day + 300, second day +200, third day (after 2 weeks) +200. He is currently still on his fourth day. Apparently his 30 days are not 30 consecutive calendar days. :0

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  #83 (permalink)
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rtrade View Post


Clearly you are an emotional trader, but were you trading with REAL $$$$$ on a system/methodology that you have not MASTERED???

And were is your Master Reva??? .... to guide you and Mentor you???

So now you want to trade ONLY the London open for first 1/2 hour only......WHY???

Ask yourself....are you still in REVENGE MODE???

Ask yourself...are you feeling DESPERATE???

And if you did lose AGAIN....why DESTROY a wonderful piece of technology???

Please, take pause, get control of yourself, get control of your emotions...bluemele is correct....it's only money. Just regroup...and approach your situation with a more level head.

Market Profile works....just take the time to READ it CORRECTLY...that means...YOU are the solution to your problem.

Master Reza told me that like MANY OTHERS on this forum, I am EXPECTING TOO MUCH, TO SOON.
Hey, Of all the methods, approaches, systems, indicators I have used, only M.P. gave me the depth to actually score multiple weeks of winning intra-day trades in the last 5 years!

Its just that you really need to have the utmost respect for the markets all the time, cause if you decieve yourself and let your guard down just because your having the "best two weeks of trading" you have ever had in your entire trading career, you run the risk of GIVING IT ALL BACK!!

Yes, I WAS TRADING IN REVENGE MODE THIS PAST WEEK, UPPING MY CONTRACT SIZE TO THE LIMIT JUST TO RE-COUP MY HARD WON EARNINGS, AND REZA OBSERVED THIS, BUT I DID NOT LISTEN, I JUST WANTED REVENGE

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  #84 (permalink)
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bobbyacim View Post
Master Reza told me that like MANY OTHERS on this forum, I am EXPECTING TOO MUCH, TO SOON.
Hey, Of all the methods, approaches, systems, indicators I have used, only M.P. gave me the depth to actually score multiple weeks of winning intra-day trades in the last 5 years!

Its just that you really need to have the utmost respect for the markets all the time, cause if you decieve yourself and let your guard down just because your having the "best two weeks of trading" you have ever had in your entire trading career, you run the risk of GIVING IT ALL BACK!!

Yes, I WAS TRADING IN REVENGE MODE THIS PAST WEEK, UPPING MY CONTRACT SIZE TO THE LIMIT JUST TO RE-COUP MY HARD WON EARNINGS, AND REZA OBSERVED THIS, BUT I DID NOT LISTEN, I JUST WANTED REVENGE

I hear you brother. Revenge trading is my biggest demon as well. I wish I had some wise words for you, but I am still dealing with it as well. You might want to get a broker like DeepDiscountTrading where they can set a daily loss limit for you, and once you have reached that limit, the broker will reject all additional trades for that day.

What I do is run another chart in sim mode, and when I feel the need to click the button and show the market who is boss, I will do it on the sim chart. I am a scalper, so my trades generally last only a few seconds, so I can get that frustration out very quickly on my sim chart. If you are a longer time frame trader, not sure if that will work for you. I'd love to hear any ideas anyone else has on dealing with revenge trading.

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  #85 (permalink)
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bluemele View Post
Well, I hope you did other things with your life during those 5 years.

Not to be a wise ass, but money isn't everything.

For me it was!! Since because of the ridicules-I REVERTED BACK TO POOR SPELLING,... amounts of time I was spending in front of my ninjatrader, my girlfriend left me a while back. Then after blowing my first account, I borrowed money against my 401k plan, and finally went back to drinking(and not ice tea either) because I'm feeling like a total loser!!!!!!

I think there are people who don't know when its time to throw in the towel on something, and looks like I'm one of those people....


Last edited by bobbyacim; April 27th, 2011 at 11:09 PM.
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  #86 (permalink)
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bobbyacim View Post


...my girlfriend left me a while back.
...blowing my first account,
...I borrowed money against my 401k plan,
...and finally went back to drinking
...I'm feeling like a total loser!!!!!!


I'm sorry but I realize I'm not qualified to assist you...please START Here there is a FREE webinar that might help.

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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  #87 (permalink)
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bobbyacim View Post
Unfortunately,

I just joined the approx 96% of traders who lose money daytrading, AGAIN!!!
Had several weeks of slow and progressively succesful trades for 1-2 points using 1:2 risk reward ratio.
AND in the last few days, I LOST ALL MY PROFITS!!!!

Backtracking... looks like my trading sessions became very choppy and after a few loses, instead of stopping for the day, I fell into the REVENGE TRADING MODE.

OH WELL, LOOKS LIKE AFTER 5 YEARS OF GRUELING STUDY, AND 5000 HOURS OF SCREEN TIME, THE ONLY THING I HAVE ACHIEVED IS THAT INSTEAD OF LOSING MY ACCOUNT QUICKLY, NOW, I LOSE IT SLOWLY, BIT BY BIT.....

I AM NOW GOING TO ONLY TRADE THE LONDON OPEN FOR THE FIRST 1/2 AND WILL ONLY TAKE A BREAKOUT OF THE OPENING RANGE WHICH M.P. APPEARS TO LEND ITSELF TO. IF THIS DOES NOT RECOVER MY LOSES, I AM GOING TO BREAK MY LAPTOP INTO A MILLION PIECES, SHRUG OFF 5 YEARS OF MY LIFE AND FORGET COMPLETELY ABOUT TRADING!!!!!

Please don't think I am feeling sorry for myself for what I am about to say;

I started " ten thousand in education and still not profitable" with a quote of a famous trader who has been banned on BIG Mikes Forum (perhaps for good reasons) This trader goes by the handle "TRO" and he once said
"Market movements are random, prove it to yourself; place a line anywhere and eventually price will touch it"

Then I started this thread and changed my quote to reflect my optimism. Recently I have had a MAJOR failure, And coincidently saw BIG MIKES POST called
"Are all lines on your chart random?"

Maybe TRO was RIGHT AFTER ALL, and ironically the person who banned him, just proved him right with this experiment......

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  #88 (permalink)
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Don't feel bad Bobby, many of us are in the same boat still trying to get consistent with our trading, and we probably never will.

Bottom line is that most traders lose money. They say only 5% make money, and I believe that is true.

I also believe this 5% has a lot of money to start with as well. It's easy to make money when you have a lot already.

There are a lot of traders on here with accounts of less than $50,000 and I just don't see how any of them will make money in the long run.

Even the best traders on this forum are probably not making a full time income from trading. The guys making a full time income are keeping their secrets to themselves.

And all these guys (except for a few) who are selling courses out there are making money from selling their courses - not from trading.

Unfortunately, this is the reality of the situation.

It's like being a sports gambler. It sounds like a great life, but it's very hard to do, and the guys that can do it, have a lot of money to start with, and keep their mouths shut about it.

Many new traders are misinformed and they think they can double their $10,000 account each month once they learn a system. That is not the case. The guys making money have at least $100k to $200k (many have more than this) and they just try to make 5% - 10% per month (which is difficult enough). This doesn't sound like a lot, but when you do the math, it is a lot. This is how it is done.

Unfortunately for most of here, trading is always just going to be a hobby.

I feel your pain.

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  #89 (permalink)
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That pretty much sums it up. Its something your broker won't tell you when you fund an account with 5k. I kept saying that, but nobody believes me. You can't make 1000% a year ( turn 5k into 50k a year). Its just not gonna happen, at least not consistently.

Futures are leveraged instruments already. If you need 25k to day trade stocks( which are nowhere near as volatile as futures), what makes you think anything less is ok in commodities.


Im not scaring you guys away, but if you don't have the money, then you should accept that this is not your calling. Half your problems( over leveraging, getting out too early because your scared... etc etc) will go away when your properly funded.
You CAN be profitable day trading, and i've even posted a track record to prove it. But you need to be realistic.

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  #90 (permalink)
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bobbyacim View Post
Please don't think I am feeling sorry for myself for what I am about to say;

I started " ten thousand in education and still not profitable" with a quote of a famous trader who has been banned on BIG Mikes Forum (perhaps for good reasons) This trader goes by the handle "TRO" and he once said
"Market movements are random, prove it to yourself; place a line anywhere and eventually price will touch it"

Then I started this thread and changed my quote to reflect my optimism. Recently I have had a MAJOR failure, And coincidently saw BIG MIKES POST called
"Are all lines on your chart random?"

Maybe TRO was RIGHT AFTER ALL, and ironically the person who banned him, just proved him right with this experiment......

Let me know when price hits my line....

If you draw a line within the daily range, price will probably trade through it. I fail to see how that proves the markets are random? If they were, making money would be a whole lot easier!

I've never found a static approach that works consistently. IMHO, a good trading system adapts to the trading environment it functions in.

And I'm sorry to hear about your misfortune, I wish that upon no one.

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