FOREX PRO Weekly October 01-05, 2012

[BeeKay8]

I've had a bad month. Lots of the bad habits I thought were recognised surfaced again and I made lots of the old mistakes. The end result was 2% gain for the month of August when it could have been a lot more.

But...

I checked out the projectfx website and saw that of the 54 live accounts that the show only 15 made a profit in August - I was number 14.

In the 5 months since I 'restarted' my trading I have had one month with a 5% drawdown. All others have been profitable with a running total of 25%

My results are actually very good and if kept consistent would give a nice steadily rising equity curve and the basis for a good income.

So, I am faced with the choice of feeling a failure for all the mistakes I made or feeling a success because in comparison to most traders - and my previous trading results I am a success.

The more I believe the success the easier it will be to avoid the mistakes.

I'm off to read Trading in the Zone - again!

All the best

Michael

Keep up the good work!!!

 

[Joh]

I've had a bad month. Lots of the bad habits I thought were recognised surfaced again and I made lots of the old mistakes. The end result was 2% gain for the month of August when it could have been a lot more.

But...

I checked out the projectfx website and saw that of the 54 live accounts that the show only 15 made a profit in August - I was number 14.

In the 5 months since I 'restarted' my trading I have had one month with a 5% drawdown. All others have been profitable with a running total of 25%

My results are actually very good and if kept consistent would give a nice steadily rising equity curve and the basis for a good income.

So, I am faced with the choice of feeling a failure for all the mistakes I made or feeling a success because in comparison to most traders - and my previous trading results I am a success.

The more I believe the success the easier it will be to avoid the mistakes.

I'm off to read Trading in the Zone - again!

All the best

Michael

Thank you Michael for showing your struggle as all traders have face.
as you wrote 54 live accounts and only 15 made profit, you're one of the 15 -however you are disappointed in the 2%.

Then your last quote:" small daily improvements are the key to staggering long-term results."
Do you live by that Quote? IMHO You are producing according to your own quote!
- Good Luck Michael.

 

[minimax]

I've had a bad month. Lots of the bad habits I thought were recognised surfaced again and I made lots of the old mistakes. The end result was 2% gain for the month of August when it could have been a lot more.

But...

I checked out the projectfx website and saw that of the 54 live accounts that the show only 15 made a profit in August - I was number 14.

In the 5 months since I 'restarted' my trading I have had one month with a 5% drawdown. All others have been profitable with a running total of 25%

My results are actually very good and if kept consistent would give a nice steadily rising equity curve and the basis for a good income.

So, I am faced with the choice of feeling a failure for all the mistakes I made or feeling a success because in comparison to most traders - and my previous trading results I am a success.

The more I believe the success the easier it will be to avoid the mistakes.

I'm off to read Trading in the Zone - again!

All the best

Michael

Hello Michael,

have a question regarding Alpari order executions. Opened demo on Thursday 27th at ProjectFX and I am experiencing lots of requotes, how about live account?

PS
What is your nickname in ProjectFX?

 

[Synchronicity]

Hello Michael,

have a question regarding Alpari order executions. Opened demo on Thursday 27th at ProjectFX and I am experiencing lots of requotes, how about live account?

PS

What is your nickname in ProjectFX?

I've had quite a few requotes recently which is unusual from my experience of Alpari. I guess that its good they happen on demo accounts too as that makes them more realistic.
Im Synchronicity on Projectfx same as here. what's your id there?
edit. found you by exercising common sense

All the best

Michael

 

[ochills]

good Work Sive as usual thanks a million

 

[elie]

Is ProjectFX for Alpari user only? Thanks in advance.

 

[Synchronicity]

Is ProjectFX for Alpari user only? Thanks in advance.

Its hosted by them and links to their accounts. It doesn't actually say you can't link someone else's MT4 account so you could always give it a try...

All the best

Michael

 

[BeeKay8]

Hey Sive,

What are your thoughts on the GBP/USD DRPO "SELL" pattern that you discussed at the start of the week?

 

[Sive Morten]

Hey Sive,

What are your thoughts on the GBP/USD DRPO "SELL" pattern that you discussed at the start of the week?

Well, it has hit its minimum target by Monday's open at 1.6030. Although it doesn't deny the possibility of continuation but DRPO per se has completed.

 

[MidnightRun]

..."Situation on NASDAQ and weekly S&P does not exclude possibility of horrible plunge to 1100 by S&P." ... Apparently not before the elections in the USA or even only earlier next year? Thanks