Trading review processes

[ThingyMajiggy]

Thanks 4s I realise its up to me and only I know the answers. My original question was just to see when YOU personally think its time to go from sim to live, and perhaps MrCs first answer straight away nailed it.

I'm working on my problems, thanks for the suggestions all

 

[nomore4s]

It wouldn't be helping just ME. It's a forum Might actually get some quality posts on here for once, but nevermind.

Cheers for the link

Sam,

Trading is to a certain extent a individual game. What works for me is going to be a little different to what works for TH or MrC or yourself.

You need to find & understand your own faults and find solutions to them yourself, experienced trades like TH & MrC can only point you in the right direction to finding info that may or maynot help you identify these faults and give you some ideas to help find solutions but at the end of the day it is only you that can implement the change and hard work required to succeed.

Trading is a hard game and you can see why so many fail at it, it can be extremely frustrating at times and that's why so many people go looking for quick and easy solutions.
They can see the potential money on offer but struggle with finding a method to regularly tap into that potential and are forever looking for the holy grail all the while missing what it is that makes a successful trader.

 

[ThingyMajiggy]

Sam,

Trading is to a certain extent a individual game. What works for me is going to be a little different to what works for TH or MrC or yourself.

You need to find & understand your own faults and find solutions to them yourself, experienced trades like TH & MrC can only point you in the right direction to finding info that may or maynot help you identify these faults and give you some ideas to help find solutions but at the end of the day it is only you that can implement the change and hard work required to succeed.

Trading is a hard game and you can see why so many fail at it and why so many people go looking for quick and easy solutions to it.
They can see the potential money on offer but struggle with finding a method to regularly tap into that potential and are forever looking for the holy grail all the while missing what it is that makes a successful trader.

Yes, I know this, it is very much an individual game, I have found this out myself, its not like I haven't done hard work, I do a **** load of studying everyday, every week, I know its an individual game, I know I have to find what suits me etc etc. I'm not expecting those traders to show me every single detail(As if they would anyway!). I don't have any interest in how THEY place their trades, what indicators they use, or how they use them, its more the simple things that can go along way, rather than just chewing their heads off and leaving.

If you're implying that I'm looking for a "quick and easy" solution to trading and/or that I'm ever searching for the Holy Grail, then you are wrong. Simple. I have said all along that its not easy, never expected it to be. As far as the search for THE holy grail is concerned, BS. I think there is a HG for you, for me, for each of us. Its finding the method and ways that suit us.

 

[nomore4s]

If you're implying that I'm looking for a "quick and easy" solution to trading and/or that I'm ever searching for the Holy Grail, then you are wrong. Simple. I have said all along that its not easy, never expected it to be. As far as the search for THE holy grail is concerned, BS. I think there is a HG for you, for me, for each of us. Its finding the method and ways that suit us.

Sam, I wasn't implying that you were looking for the HG or easy solutions to your problems - I know how much time & effort you put in to your trading.

It was a general statement in regard to most people who come into the markets. How often do you see the newbies post looking for the perfect indicator or whatever? Why do companies selling cr@p trading systems for huge amounts of money keep popping up? You can see why people get sucked in, that's all I was saying.

Maybe it is time for you to take a step back from your study and have a close look at what & how you are practicing and try to refine your study/practice a bit? Review you study methods? Reset you goals & plans to achieve them?
(These are only a suggestions, as I don't know how/what you study/practice or how you set you goals & plans or your method of executing those plans, but as you seem to be getting frustrated it might be time to review everything.)

 

[barney]

Sam,

Trading is to a certain extent a individual game. What works for me is going to be a little different to what works for TH or MrC or yourself.

You need to find & understand your own faults and find solutions to them yourself, experienced trades like TH & MrC can only point you in the right direction to finding info that may or maynot help you identify these faults and give you some ideas to help find solutions but at the end of the day it is only you that can implement the change and hard work required to succeed.

Trading is a hard game and you can see why so many fail at it, it can be extremely frustrating at times and that's why so many people go looking for quick and easy solutions.
They can see the potential money on offer but struggle with finding a method to regularly tap into that potential and are forever looking for the holy grail all the while missing what it is that makes a successful trader.

Good post NM4

Sam, there is some quality advice in this thread .... don't discount advice just because its a little cryptic or it doesn't appear to answer your question directly. A couple of the boyz in this thread have helped me stay in the black for an extended period

Personally I think whats more important than knowing when to go live, is knowing when to stop going live if its not working ...... you have already recognized that point a couple of times without busting the bank, so that is good.

Everytime you lose some cash on the live account, that should give you a wider base to learn from and improve on ....... Funny thing is, you should actually enjoy losing small amounts if its teaching you something of value. Worst possible thing that can happen to a new trader is he gets lucky early, cause sooner or later he'll probably blow the lot, if the initial wins weren't based on ability. All the best.

 

[ThingyMajiggy]

Sam, I wasn't implying that you were looking for the HG or easy solutions to your problems - I know how much time & effort you put in to your trading.

It was a general statement in regard to most people who come into the markets. How often do you see the newbies post looking for the perfect indicator or whatever? Why do companies selling cr@p trading systems for huge amounts of money keep popping up? You can see why people get sucked in, that's all I was saying.

OK Was just making sure, and yes its easy to see why people get sucked in, alot of BS around.

Maybe it is time for you to take a step back from your study and have a close look at what & how you are practicing and try to refine your study/practice a bit? Review you study methods? Reset you goals & plans to achieve them?
(These are only a suggestions, as I don't know how/what you study/practice or how you set you goals & plans or your method of executing those plans, but as you seem to be getting frustrated it might be time to review everything.)

Yeah good suggestions, I have actually been thinking on those things recently, I know there is nothing wrong with the method I am using, or the market, so its obviously me.

I think I need to be more market focused, not self-focused when I'm trading(thinking about P&L when trading etc). Things like this need work, and more deliberate practice, try some of my ideas, rather than being stupid with my sim trading.(only been stupid recently with HSI, not all the time )

I often think about the bad things too much too, instead of concentrating on my good doings and my strong points, which I think makes a difference, getting distracted by things of self, rather than concentrating on the market. Finding out the patterns of the market is something I want to do aswell, like THs graphs he brings up, I think they are really helpful, also patterns in myself.

Personally I think whats more important than knowing when to go live, is knowing when to stop going live if its not working ...... you have already recognized that point a couple of times without busting the bank, so that is good.

Everytime you lose some cash on the live account, that should give you a wider base to learn from and improve on ....... Funny thing is, you should actually enjoy losing small amounts if its teaching you something of value. Worst possible thing that can happen to a new trader is he gets lucky early, cause sooner or later he'll probably blow the lot, if the initial wins weren't based on ability. All the best.

Yeah good points barney, something I need to do more as I said above, focus more on the good.

I have stopped trading live as soon as I have losses and have a problem in my trading. I tend to focus more on those small losses rather than focusing on the good, the fact that I did exit when I should have etc.

Cheers

 

[MRC & Co]

its more the simple things that can go along way, rather than just chewing their heads off and leaving.

What are the simple things that will go a long way? You got a lot of that type of information here from what I saw, but you seemed to just get frustrated even more because you weren't getting told directly what to do.....

The truth of it is, the market goes up, the market goes down, there is no magic to it, just as there is no magic to profit from it. As an example, look at some of the trades Paul Tudor Jones makes that look rediculous (sells oil because he doesn't believe that several men could come to an agreement on it's price at an OPEC meeting). Or my example of one reason I thought the risk rally had topped out basically the day it did several days ago, when a Chinese Soverign Wealth Fund manager made comments that the USD was cheap here and they would be buying and then tried to revolke his comments as, 'his opinion only' after the markets sold off and USD was bought on the comments. Obviously didn't expect the reaction from the markets, so instantly tried to hide his comments after markets reacted, but his first comments were obviously the truth by his reaction to the markets reaction. Very odd reasons, but they work and a lot of funds will take positions on similar reasons.

The same as the steps you need to take are extremelly simple, you need to be profitable on SIM, then go live, and replicate it (if that isn't happening, don't jump straight back to SIM, just stay small and work out what is happening different). Is it the market that has changed instantly, if so, go back to the SIM if you can't adapt quickly, or is it your own psychology?

Find what works for you and the rest is common sense. You don't need anyone to help you with that.