Decision-making error
Who makes market entry decisions and how?
My forecasts are almost error-free, but I cannot follow them myself for some reason, can someone explain?
....
Who makes market entry decisions and how?
My forecasts are almost error-free, but I cannot follow them myself for some reason, can someone explain?
https://www.mql5.com/ru/users/kapitan/charts
Who makes market entry decisions and how?
My forecasts are almost error-free, but I cannot follow them myself for some reason, can someone explain?
https://www.mql5.com/ru/users/kapitan/charts
I closed the whole week like this, in fact I was minus, according to the forecast about +40% to the deposit.
I'm pissed off.
I usually have such problems after reading some forecasts. At the beginning of the week I read on the resource "сцлко.net" a forecast for the week, supposedly the pound would hardly break the level of 1,60, and the euro would get stronger around 1,20.
But after reading it I really understood this nonsense and then my manager calls me and says that my previous results are good and starts to make a forecast about the pound. During the conversation he claimed that the pound is going to rise all week, but I contested, saying that there are no prerequisites for growth.
Next, the statistics on China spoils a stable market - I get scared.
As the result after this rubbish I heard and the big movement on AUD was confusing, as a result after every open position, and there was very little of them (fear) I closed on the smallest pullback. Well, I remembered that the euro and the pound will "rise".
That's how the week was spoiled, and the week was great for trading if I would not listen to anyone. I`ve been in the market not for the first year, but when it comes to money I`ve got uncontrollable fear to lose it.
Conclusion:
1. Do not listen to others, do not use forecasts, especially when they are given by brokers.
2. Put stops 100% of the time, work no more than N% of the deposit.
2. It is important to learn to accept the loss, and accept it as if it were your cost of doing business.
When you see a signal - open, but not on the entire deposit :) You put a stop, then a loss. Everything is fine, you have just strengthened your trading system.
You see the signal again - go in, make a profit - great, but do not think that you have crushed the market by the tail. The next trade is again with a stop and we do not move the stop.
Stop: Stop is more likely to trigger than Take because of price pulling back - we have one stop, but take is 3 times bigger - when price moves in our direction, we usually start to move our stops and as a result price will reach it anyway by making a wrong entry, but the loss will be significant. After such losses the trader just sits and predicts the market instead of trading.
I can write a lot about this subject, but the conclusion is up to you. It is important to learn to accept losses, and losses that were planned at the time of opening a position.
He claims he came to Forex not to make losses, but to earn, in other words he has been working without stops for several years and he does not even think about losses when you open a position and always considers only profits.
I closed the whole week like that, with a minus, and a forecast of about +40% to the depo.
I'm pissed off.
If I had a stop loss I would be in the red, but if I don't I am in the red even more, and then according to the chart (forecast) if I am in the red, I put a stop losslessly and close on a pullback, if I don't put a stop loss, I am in the red.
I cannot decide what to do.
If I have a stop loss I am in the black and if I don't, I am even more in the red, and then according to the chart (prognosis) if I am in the black I close without loss, if I don't, I am in the red.
I cannot decide what to do.
The link given is wrong, or rather it is only visible to you. If you want - insert screenshot picture and ask questions on this picture.
I gave up all types of breakeven, because with a normal stop you can enter the market with a normal lot and profit will be substantial from one trade, but if you work without stops on averaging, then you have to enter with a much smaller lot, because after some averaging there will be nothing to average, and not the fact that the price will go to the desired correction, and the loss is growing very fast, you may just not have enough money. Further, if we enter and average with small lots, we will have very small profit with the right movement, but if the movement is not in our direction, then we start to average. But there is one subtlety: we start averaging on Monday and break-even on Thursday. That leaves Friday... What have we earned during the week, losing 3-5 positions? And how much money will we earn in a year?
I also had a bad experience in trading without preliminary calculation of lot/loss, morally it is very uncomfortable to trade when you do not know the right lot to enter, how much you will lose at the stop level, how much will remain in your account. You cannot trade without these first things, at least in the long term, and you have to estimate them beforehand. I used to always got upset when I saw a wrong move, when I saw a loss figure, I was sad, I didn't understand why one trade would decrease my account so much, I was afraid to enter the market again, I poked at charts for days, made some predictions, had 21 indicators on the chart, plotted levels - I would not enter. I entered again, the price seemed to have been changed, it was running away from me, but I had come to earn, not to lose.
And so two accounts, one in one day, in the afternoon until midnight, the second kept for a long time, somewhere around 3 days, I was afraid of losing it again, there was only a couple of trades.)
After that I just watched the charts on an empty account for a long time, added some levels, analyzed them, but I was afraid to put money.
After reading many forums I decided to open demo account, there I have left only $50, started to work with tight stops, my deposit was not increasing, it was sinking very slowly, but I lived. Then again reading all sorts of wisdom, came to the conclusion that the take should not be less than 1/2.5, the account began to grow gradually.
Now after all this my trading consists of short stop, take not lower than 1/2.5. If when I open a position I do not see the potential for price development to my takeaway level, or I see only 1/1, then I do not enter, I wait for the next signal. Before every position opening I know up to a cent how much I am losing, and it is not a moral blow, I enter the next position "with a smile on my face". But I'm helped by the indicator that counts everything for me and removes my moral fatigue, I trade calmly, even if I lose 5 losses in a row, but I'm already prepared for them.
I also had a bad experience in trading without preliminary calculation of lot/loss, morally it is very uncomfortable to trade when you do not know the right lot to enter, how much you will lose at the stop level, how much will remain in your account. You cannot trade without these first things, at least in the long term, and you have to estimate them beforehand. I used to always got upset when I saw a wrong move, when I saw a loss figure, I was sad, I could not understand why one trade would decrease my account so much, I was afraid to enter the market again, I poked at charts for days, made some predictions, had 21 indicators on the chart, plotted levels - I would not enter. I entered again, the price seemed to have been changed, it was running away from me, but I had come to earn, not to lose.
And so two accounts, one in one day, in the afternoon until midnight, the second kept for a long time, somewhere around 3 days, I was afraid of losing it again, there was only a couple of trades.)
Then I just watched the charts on an empty account for a long time, put some levels, analyzed them, but I was afraid to put money.
After reading many forums I decided to open demo account, there I have left only $50, started to work with tight stops, my deposit was not increasing, it was sinking very slowly, but I lived. Then again reading all sorts of wisdom, came to the conclusion that the take should not be less than 1/2.5, the account began to grow gradually.
Now after all this my trading consists of short stop, take not lower than 1/2.5. If when I open a position I do not see the potential for price development to my takeaway level, or I see only 1/1, then I do not enter, I wait for the next signal. Before every position opening I know up to a cent how much I am losing, and it is not a moral blow, I enter the next position "with a smile on my face". But I'm helped by the indicator that counts it all for me and removes my moral fatigue, I trade calmly, even if I lose 5 losses in a row, but I'm already prepared for them.
What indicator, if it is not a secret?
Folks, are you on the MQL forum, or where ?
What do you mean by "follow or not follow forecasts" ?
There are instrument movement statistics (mostly "technique"). Plusmacroeconomic indicators (mostly "fundamentals"). That's it. There is no other data. So, the only thing a trader can do is to identify some regularities, develop TS rules based on them, and execute them (preferably in the hands of an Expert Advisor).
But after reading this, people trade the way their left heel wants. You may ask why a trade was opened here or why the level is there and then somebody will give you a sensible answer...
My friends, this is no way to make money! The trade must obey the iron rules of the TS, and the rules themselves - among other things - must have "conditions of applicability", that is, the conditions under which they stop working, and must be replaced.
How can you "say "either a big stop or no stop" ? The stop must be exactly as your TS prescribes ! It cannot be put "from the light of day". It can be small, it can be big. In general, without a stop - I've never seen any such TS, all of these non-stop systems lose on the history. Another variant - instead of a stop a lock is placed, but it is actually the same stop, "with a deposit for the future".
Do not go the way of Danik-Moguch-Giavata! There you will only get disappointment and at best losses. Or more likely, a dump.
Folks, are you on the MQL forum, or where ?
What do you mean by "follow or not follow forecasts" ?
There are instrument movement statistics (mostly "technique"). Plus macroeconomic indicators (mostly "fundamentals"). That's it. There is no other data. So, the only thing a trader can do is to identify some regularities, develop TS rules based on them, and execute them (preferably in the hands of an Expert Advisor).
But after reading this, people trade the way their left heel wants. You may ask, why a trade was opened here or why there was a level, and then somebody would give you a sensible answer...
My friends, this is no way to make money! The trade must obey the iron rules of the TS, and the rules themselves - among other things - must have "conditions of applicability", that is, the conditions under which they stop working, and must be replaced.
How can you "say "either a big stop or no stop" ? The stop must be exactly as your TS prescribes ! It cannot be put "from the light of day". It can be small, it can be big. In general, without a stop - I've never seen any such TS, all of these non-stop systems lose on the history. Another variant - instead of a stop a lock is placed, but it is actually the same stop, "with a deposit for the future".
Do not go the way of Danik-Moguch-Giavata! There you will only get disappointment and at best losses. Or more likely, a dump.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Who makes market entry decisions and how?
My forecasts are almost error-free, but I cannot follow them myself for some reason, can someone explain?
There are screenshots here