Who had and solved problem of fighting the trend?

Discussion in 'Psychology' started by 00009, Apr 19, 2006.

  1. This is a very positive thing in fact. No big winners without a large bunch of supporting suckers.
     
    #61     Apr 26, 2006
  2. wint

    wint

    Mr 09, this will be my last comment to you. I do wish you luck. You sound sincere about trying to improve.

    Like I said to you before, since you're not describing how you define a trend and how you define an entry, it's almost impossible to suggest anything to you.

    If I understand what you're saying, you fear going long after price has already moved UP so you try to short, instead. You said this previously:

    /////////Let me put it this way, If eur/usd advances 40 pips ( I trade forex mostly intraday) or 60 pips up I have though time in getting next 50 pips that are usually in same direction this time up. So I start looking for a top. I waste time trying to short (fighting the trend) and I don't use established intraday uptrend to get myself in some retracement and targeting more up action.//////////

    I don't think that there are any psychiatrists practicing for free on these forums so trying to understand exactly WHY you do this may be difficult. As I suggested yesterday, you're probably one of those people who think "good trading" is about making as much money as possible every trade, every day, every week, etc.

    My suggestion:

    1) Convince yourself that you can make a lot of money over the next 2-3 years by making just a little bit each day and SLOWLY adding to the number of contracts you trade.

    2) Convince yourself by looking at many, many charts, that you can find highly profitable moves by just using moving averages, or simple indicators and two time periods. (For example . . . a 15 min and 3 min chart with a 14 pd CCI . . . . or a 5 min and a 30 min chart and a 20 pd Exponential MA.)

    3) Convince yourself that the best entry is the one where you risk the least.

    4) Paper trade until you develop the "eye" to see YOUR entry.

    5) Trade real money (one contract) until you develop the discipline to execute only YOUR entry. When you've got the discipline, increase contracts slowly.

    6) Eat well, exercise, rest.
     
    #62     Apr 26, 2006
  3. 00009

    00009

    Thank you Mr. wint.
     
    #63     Apr 26, 2006