11/19/2010 Rant

Posted by FxEpic | Posted in Forum | Posted on 19-11-2010

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11/19/2010 (Commenting / Ranting to someone re their achieving 2% then giving up their 2% plus 2% (‑4%):

After achieving the 2%, it IS hard to keep, yes . Mike suggested something to  me during Lunch with him… At the point of achieving your goal, Choose to Win. That’s it. Choose to win. You do have the choice of stopping right there. Walking away WITH your 2% and Experiencing that FEELING. Get used to that FEELING! See what keeping your 2% FEELS like. You ever watch the movie The Secret? I have it if you want I can send it to you. It talks about that very thing. Anyway, it works for me. A problem that often pops up after achieving your 2%, is that your (controlling) sub-conscious starts to play games with you… whispering that it was soooo easy to get the 2% why not got for 3% … even better 4%…. maybe 10%…. but you choose to ignore the Time Of Day (TOD) or maybe the Market is now in Cons when the DBRS can give false signals or it is only good to the Mid BB and you hold it for too long without locking in your BE, or …. a multitude of things that you choose to ignore because now you are focused on the PROFIT and not the RISK. Pick Your Battles. Choose To Win. It’s not what you Make… It’s What You Keep. LoL turned into a Rant. Selah.

11/21/2010 Rant:

Posted by FxEpic | Posted in Forum | Posted on 21-11-2010

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Hey, HP, I do feel for you. I can tell that you are passionate about the market. And equally frustrated by it. It seems so simple at times but even more confusing at others. At one moment you are on the mountain top when you have followed your rules and they paid. Then just as quickly you find yourself in the depths of hell because you broke every rule, repeatedly, in succession, over and over. It’s ok to feel the anger at yourself. Just turn the light on. Illuminate the darkness. Ask, What have I learned this week? The path forward is through the trial and error that produces pain, as long as you learn. I may not know what works, but I do know what does not work because I have tried and I have failed. I honestly believe that  Market Mavericks are the ones who have failed repeatedly, but rose up from the pain and learned what did not work. We choose to make the market more complex that it is. Find what works and repeat it. Over and over and over. How do I come by this? Well I found some things that do not work. And I repeated it over and over and over. So the Market being what it is, then, the reverse is also true!!! I love to look at the 2% per day as it compounds! I begin to dream about all the possibilities. It can also drive one to move too fast… thinking that if 2% is good then 4% is better. It does not work like that. Stand the Market on its head.  Shake the money from its pockets! The central idea of 2% per day is to view the market solely from Risk, not from profit. That is, you are always at Risk. Always. You may have had 200 “winners” in a row. Every entry carries the Risk of loss, Every one. So since we are at Risk, we need a way to get leverage on the Market. This is where we let the Math do the heavy lifting for us. Compounding. It will work for us, BUT is will also work against us. For this reason I have recently imposed a limit on my exposure to Risk. Two successive losses results in Market Termination for that Session. Why? Well for the reason that it means that I am not seeing what is in front of me and for some reason I have formed an opinion as to what the Market is doing that is incorrect. Opinions in the market will wipe you out. Price is the only arbiter of Market Sentiment. Price is the Judge the Jury and the Executioner. Consider also that we as “retailers” are tremendously handicapped. The Big Boys get the Fundies 2 minutes before they are published. How well will your opinion stand up to that? It’s sort of like looking at the Market as a NFL football game. Where their team, all 50 of them, show up for the game and you are the only one on your team. You are it. No one to help you. Now, yes, they are going to score, but each time they score you will get the ball afterward for your turn to try to make a touchdown. The odds against that happening are pretty high, yes, but out of 100 yards that you have to go, do you think you could move the ball by 2 inches? I think so. Sounds possible. On average $3.9 Trillion is “traded” each day in our Forex market. $3.9 Trillion. I only want to dip my Dixie Cup into that sea of money each day. Little by little, 2% by 2% I’ll fill up my pool in the backyard. Got Sun Block? Selah.

11/28/2010 Rant:

Posted by FxEpic | Posted in Forum | Posted on 28-11-2010

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I was thinking this weekend (oh ohh I feel a rant coming) about minimizing mistakes. Avoiding what I’ve come to call Pip Diarrhea (PD). Avoiding the Runs as it were. I had a real good go of it on Friday ( on my iPhone no less and believe me it was scary at best) but I had a previous bout of PD on Thursday night on my way down to Miami. (Yes, I know you should not talk or text while driving…but there is no law against taking MO’s while driving as yet!) This led me to the usual questioning of what-ifs. I was not beating myself up though cz I did enter on valid DBRS sigs … but the market was determined not to believe me. (lol). I was rather wondering how to maximize the effort. As the Secret tells us… solutions pop up when you put the question out there. I bumped into this article from Boris ( http://www.bkforexadvisors.com/boris-schlossberg/forex-trading-strategy-how-do-you-succeed-in-this-business/ ). It’s a good read and very much up the PD ally that I was pondering. So I’m working on finding some relief from PD….it kinda feels like when you have a huge jigsaw puzzle and you’ve got the edges all connected so that all that is left is to fill in the middle and you’ve got many of the same colors and patterns connected and grouped together but there juuuust a few pieces out there and they are staring you in the face. You can see them… it’s only a matter of time, persistence and attention to detail before it’s all connected. I can feel a Ship Burning coming on folks. I can feel it… and it feels good! Selah.