FOREX PRO Weekly July 16-20, 2012

ochills

Master Sergeant
Messages
278
Pls can somebody recommend good book for me on risk control and web site for audio books.
Asif faryad and Triantus pls can U help me out.
thanks all.
 

Lolly Tripathy

Sergeant Major
Messages
513
Either daily stop grabber pattern or 4hr bfly sell
as a conclusion ultimately bearish context..
Thank you sive sir...
Have a great day...
 

asif faryad

Sergeant
Messages
194
Asif

Thanks for posting this. I started about the same time as you, initially day trading shares off 15 minute delayed charts. What a disaster that was!! I have messed about with everything but never stuck to one thing long enough to get to the point of being successful. I typically get good at some system or another then get distracted and don't trade it, or try something 'better'

I'm great at studying and learning systems and pretty good at programming indicators etc. and have mistaken progress at this for progress as a trader. The Mark Douglas book has been a real eye opener for me for two reasons. Firstly, it detailed all of the mistakes that I have been making over the years. Second, it told me that I am typical of most people that get into trading - but that I can change.

Since starting to follow Sives work closely and trade from his analysis I have increased my account by about 25% and that has been done with consistent gains rather that massive wins and losses. That is the most consistent I have ever been!!

I have spent the last few weeks writing my trading plan in detail and will start trading from it soon. I am trying to shift my definition of success for now. Each trade I make will be assessed and marked by how well I am sticking to my trading plan rather than by how much money I can wring out of it.

I am so grateful to Sive and to those who post here regularly and show me the way...

All the best

Michael
Thanks Micheal,,

As i want all the serious traders to be very content as once grasped anyone can make a decent living..

Also wanted to add that from Last July (11) 2011 to July of (11) july 2012 i increased my account size by 47% ...

This is sticking with safe money management and also using safe compounding..

So in this current climate where returns are 0 or 1 or 2 % on savings ...

i am happy also the figure i mention is after taking out my living costs which i do on a monthly basis .... AS one of my rules or is part of my trading plan is i take 50% of all i earned every month the rest stays to increase the account size safely..

Also i then dont face any issues about brokers!! as i always get my money when i withdraw and this also keeps you very disciplined not to make major mistakes like get tempted by SATIN :)) for more...... lol i am sure you get my point.

As i can only eat 1 t bone steak every day not 50 ! lol

Best

Asif
 

papao

Private, 1st Class
Messages
74
Thanks Buddy,

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I am sorry for such a long message but hope that helps and answers your questions...

Asif
thank you, Asif. Your story makes me confident that is possible became a consistent trader (and make a living by trading). I know it will be a long journey :) btw, i also appreciated your favourite book of Mark Douglas (it tells something we all have in front of our eyes, but most of times we don't want to see).
 
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