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Think I should. Hang up my charts.

 
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rigrunner66

Think I should. Hang up my charts.

Getting my tail handed to me constantly  I'm  starting  to think I'm not wired right for trading. Can't get 2 profitable days much less 5. Account  trashed and getting worse.studied every strategy and don't find one that works for me and I the onecommon denominator. So its got to be me

Thu, 10/22/2020 - 1:14pm
 
broslansky

@rig,

You're not alone. There are many, many cry parties on these forums. Ironically, the best place to learn is in your simulation accounts. You can blow it up as many times as you want and there is no harm, no foul.

Can you share some screen prints on your setup and triggers.

There are many who are able to help.

Just my .02 pips worth.

 
mike_smith

rigrunner66, sorry to see you go.

 
Rookie

@rigrunner66, good to see your 1st post, and you from Iowa! I'm from Dubuque IA!

So I spend a long time getting 5 days in a row, so long I thought I was in purgatory!

We are here to support the hive, can you share a bit about your trading?

 
Timothy

Rigrunner66, you're not alone . I been trading with Apiary for 5 years now and I still have days where I hit the 5% cut off , and still have losing days, weeks , and months. I even emailed Ron (after losing 5 funded accounts ) asking him if he thinks I should just throw in the towel. He said "just keep trading and one day the light bulb will turn on" . He also told me that he has seen traders struggle for 5 or more years before something clicks and they become very successful. So keep trading !

 
michael_1

Rigrunner66,
Sadly, we all preach patience. It's true. I felt Silver 1 was more difficult than Silver 2 & 3. You kind of have to fight through it. As Timothy said above, it eventually starts to click. Just over the past 30-days or so I'm hitting my per day and weekly goals and things are making sense on how I personally trade best. There are some dark days. I don't follow anyone else's plan, however it was helpful to watch Nate and Shawn trade, Kevin is helpful and the others and start applying different parts. Also, this forum provides a lot of insight with some pretty good traders. Eventually, recognition sets in but, it can take some time. This is not a quick process - to be good and profitable at least. I hope you hang in there to Silver II at least so you can see.

Follow up with some with your current challenges and I bet many will be helpful.

 
whatasunrise2000

Please don't give up if this is something you really want to do. When I first started with Apiary, I was keen to try every strategy that I could. I would watch classes day and night. Due to health problems I had to take time off. A few months before I came back I started to watch Shawn trade with the wobble technique and I liked it. I used to have charts loaded with indicators trying to find the perfect strategy. I like the wobble technique and I am still learning how to make it work for me. I also love daily forex fanatics with Todd and his shot gun strategy. I am working with these two strategies and find it much easier to work with 2 strategies rather than a dozen.

 
chris.r.patterson

@rigrunner :

If you believe you are the common denominator in the equation, I would recommend reading "Trading in the Zone" by Mark Douglas. You can get a digital copy on iOS or Kindle. I also recommend watching his seminars on youtube.

I've been at this for 3 years and I'm just now starting to hit some consistency. Like Timothy stated earlier about Ron's comment, " just keep trading and one day the light bulb will turn on".

I don't know how long you've been practicing or trading in general, but keep at it and it'll click.

 
jazzychef22

i spent several months on silver 1 and 2, compared to silver 3 and gold 1 where i spent approximatly one month each. I feel that those two levels were the hardest. If you can get past this hurdle, you will be successful for sure

 
rigrunner66

thanks as bad as silver 1 is I imagined the rest were worse. knowing different takes lost of pressure off me

 
ccc

I think that gaining the skill set of trading is probably more difficult than becoming a doctor. If you want to become a doctor you have a very defined path to get there. With trading however, the only way to get there is to fail your way forward. We are all wired a little different which is why there is no defined path that will work for everyone. The one common denominator seems to be failing and a whole lot of it. This is painful to say the least and nobody likes pain. People spend years and massive amounts of money (debt) to become doctors. They do it because they focus on the end result. They focus on their "Why" and they view it as a long process. They believe it will all be worth it. Think of how valuable the skill set of trading will be for you. Really think about why you want to be a good trader. What would your life be like if you could really trade? You are not alone. This is a hard path we are on but it leads to an amazing place for those who persevere to the end.

 
broslansky

Years ago, I started trading futures. I was super pumped and super ignorant. About two weeks later, I was sent packin', which meant I lost about $3,000 of my own money.

A couple of years later, I tried again. What was different this time is that I had read a "couple of articles" on the internet. So, I felt I was unstoppable. Two weeks later, I was sent back to the cleaners. Lost another $2,000 of my own money.

I was emotionally disturbed, as I couldn't figure out the reasons for the losses. I had read my stuff and did my homework. At the time, I didn't realize that the markets didn't care about me or my losses.

Here at Apiary, we traders are allowed to see a pip by pip movement, trade in a sim account, and post cry stories and Goliath Moments with each other. Folks, it doesn't get any better than that.

My recommendations to those who are getting creamed:

1) Slow down, you'll get there faster
2) Learn about Risk Management
3) Wait for the market to setup
4) Predetermine the absolute worst that can happen and avoid it
5) Discuss your failures and successes here in the forums
6) Maintain a teachable heart
7) Look for consistencies in the market
8) Look for consistencies in your style
9) Accept defeat with dignity

Above all the lessons I learned, the two most important would be:
1) Protect your account - Risk Management
2) Wait for the market to setup - patience

You can scream and shout, cry and pout. The markets will move when they're ready to move, in the direction they want to move, for the length of time they want to move. Then, they'll reverse, just because they can.

Taming the markets is like holding back the tide. Learn to ride the waves and don't try to stop the energy in the wave.

 
markbalcer

Never give up! The only person who fails is the person who stops. I've had to reinvent myself several times. I'm still nowhere near where I want to be but with my attitude I know I will get there.

 
Rookie

A lot of excellent posts here with valuable lessons. I have been thinking of myself as a slow learner at best. After reading Timothy's post, maybe we should be kinder to ourselves and give a little more credit to our efforts and accomplishments along the Beeling and beyond.

Bob said;
"Above all the lessons I learned, the two most important would be:
1) Protect your account - Risk Management
2) Wait for the market to setup - patience."

I think this is a real keeper and to be written on a stone tablet.

Often as new traders, we don't understand the levels that we must journey thru to achieve competency.

We must ask ourselves; Am I willing to sustain the climb up the process pyramid?

Levels - Compentency.PNG 5 Step Process - Clear.PNG
 
mrs.crystalmendoza

if you search out other traders who have success you'll see they've had many struggles themselves, with blown accounts learning patients, sticking to ONE strategy, risk management. your in good company.
create a simple strategy only one and stick to it journal and on the weekends and pay attention to what patterns get you which results

 
mrs.crystalmendoza

if you search out other traders who have success you'll see they've had many struggles themselves, with blown accounts learning patients, sticking to ONE strategy, risk management. your in good company.
create a simple strategy only one and stick to it journal and on the weekends and pay attention to what patterns get you which results

 
rigrunner66

Last night I used a new strategy I'm working with and mixed it With my Interpretation of the wobble. And managed to pull down a 172 Pips in 15 minutes lost a little bit of it before I got out the market I and I escaped with a 129 pips. I was Just a bit shaken When I made that post because between all the studying And my 70 hour work weeks it is taking a toll on me To the point where I wrecked my 18 Wheeler last week. That is why I'm doing this is to get out of my Regular career that I have been in for 34 years. When I got to fast track everything at my age I don't have a whole lot of time to Left on this Earth relatively speaking. I appreciate everybody's replies Thank you guys and gals

 
Rookie

Good for your trades, not so good for the rig...
Good to read you found a grove at least for a period of time.

 
bryangriffin

rig,

broslanksy made some critical points and Rookie's graphic pretty much sums it up. I can assure you all the funded traders here, even the consistently profitable ones, have experienced MANY -5% lock-out days. Amiright, Rookie? ;-)

One practical piece of advise I would add to what's already been said... make heavy use of sim accounts to do your experimenting, but take it seriously. Don't put on a trade here and another one there expecting to learn something. It's all about statistics over the long term and this is especially true for the longer term trades. You have to build up a back log of stats of a trading plan (consistently applied) to glean any useful information. Otherwise, you have to chalk it up to just plain luck.

And... Luck is not a viable strategy.

 
broslansky

Thank you everyone for the kind words.

Interestingly, I learned most of these lessons here in the forums.

I liken trading to riding a bike. Start with training wheels and wear a helmet. A child learns by practicing, failing and trying again.

As adults, we are brain washed that failure is a negative reflection on your character. How ridiculous!

Show me someone who never failed. He either never tried or is lying.

 
joshuasommer322

rig,

I'm just in my second month and using the wobble technique have been getting by with small wins. watched one of Brian's
trading room sessions and thought I'd open up to larger wins by putting more positions out there. day one was good. day two, 200 pip loss. post analysis, I was wobbling against the market. Now I'm working on my fear to get back into it...fear of getting on the loosing side of the rhythm.

Keep up the learning

 
mike_smith

joshuasommer322,

That's the spirit. Hammer the bronze out of that wobble.

 
Jan Steyn

5 years and 1 month ago i made my 1rst trade...

I'm still not making money and my Apiary live account is at -31%. I could ALMOST buy myself a new Mercedes A-Class with the amount of money i spend and lost on trading.

My point is, you see i am proof that you can trade for 5 years and still make no money from this.

I am mega annoyed like you cant imagine but the reason or the 'Why' i trade is just to strong for me to quit. I would rather lose more money than to quit.

 
rigrunner66

I don't have 5 years. I have a very short time get out of my career before I am forced out do to age and health. I guess I better start looking elsewhere for another source of income and save the money I am paying apiary fund.

 
triguylm1

@ Jan, 5 years ago with no training? But only in Apiary for 18 months? I'm guessing. What lessons will you keep and which strategies fail most often?

Seems like anything worth having is worth working for.

So, many can't figure out a profitable system. Mainly, because of the chaotic nature of the markets.

Solution: use proper leverage. use less risk to earn more profit. It may seem backwards, until one has the experience with the chaotic nature of trading. Basically, those using higher leverage just end up booking losses as emotions take hold and risk limit levels approach 5% due to having so much leverage on the table. . .

Is it really that simple. Don't use too much leverage per set-up. don't hold on to losing positions. And book profits rather than losses.

 
Timothy

triguylm1, my biggest problem is letting my losers run too long. Do you use a hard stop in your trading?

 
rwlynnandco

DO NOT QUIT!!!! LEARN!!! STUDY!!!! PRACTICE!!!! 4 years ago I was hit head-on by a car going 55-60 mph I had drove over 2,000,000 miles 24 years with Schneider, 3 yrs as a OO for them. Totaled my tractor, 11 broken ribs, my diaphragm lost its ability to work right, things that are suppose to be in the front of your body are actually in my back. OK enough about that. I played the first part of the bee line. U know the cocky trucker attitude!!! In 4 months I got to gold 2. All of a sudden I had $1,000 acct and had pulled it out of my butt. So for the last 2 1/2 yrs I have been trying every strategy I could find. I finally found MY time frames MY chart set up MY indicator MY profit target MY stop loss MY daily return MY currency pair MY amount of time I can trade and stay focused. So as Rookie once posted every day I just wash it off and wear it again. (not his exact words but you get the point) So ex trucker to ex trucker hang in there. If U can PU a load on time, figure out how to get somewhere 1,000 miles away that U have never seen or been to at a set time. U sure as heck can figure this little puzzle out!!!!!!

 
triguylm1

In my one account I have had over 200 trades with 198 winners and 2 losses just to have 2 small losses on purpose. So the stats show 98% winning rate with a win to loss ratio of $8.79 to $2.13 or about 4.1 to 1. . .

That account I can risk over 20% per day and still not take any losses.

Apiary 5% risk limitation only gives a little room for error.

So, again use very small leverage so the room for error if needed is on your side.

If you're strategy puts the positions in the negative more often than 50% of the time, then the trade may be taking a loss as price swings can be over 30 pips any direction per day.

A 70 pip stop loss means one should be taking trades that have the potential to reach 100 pip targets. But how many trades does it take to reach 100 pip targets?

To gain 200 winning trades in a row one needs to pick high probability opportunities. So, the majority of my winning trades begin before the London session, but will last for over 5 hours on average taking profit near 28 pips each and more if the trailing stop is not triggered. Also, about 2 hours before the London session you should notice price expansion is getting underway as more traders enter the market.

The wobble technic can work very well in price range market conditions, but during price expansion one needs to get a feel for the trend and not get caught in the fake-out move.

So again, small leverage allows for errors and make profits on the recovery.

 
lynngary1817

thank you triguy, your knowledge speaks to me

 
mike_smith

"In my one account I have had over 200 trades with 198 winners and 2 losses just to have 2 small losses on purpose. So the stats show 98% winning rate with a win to loss ratio of $8.79 to $2.13 or about 4.1 to 1. .."

duuh! Why didn't Kevin think of this! Honestly, he should invite you to guest speak at his money management class.

No seriously, Lindsey, if what you say is true sounds like you found my beeline rule #6 and #8 holy grail! Please do tell.

 
rigrunner66

Thank you guys and girls. Many times in my life when things get frustrating I I've been known to yell out I quit. The funny thing is even though I be scream I quit I have actually never quit. Appreciate all your words and meditating tonight well I pull another Red Eye Express (driving all night) I hit up on what my problem is and then one of you putting it into words. I'm even too big of lot sizes . I feel my strategy is sound and and works well in a volatile Market. I just need to tweak it a little bit more. I have actually not seen the wobble technique performed. My interpretation of it if I'm hearing Shaun tell somebody what to do and when. I'm going to be gold soon because I don't leave Myself any other choice. Refuse to Lose!

 
rigrunner66

Thank you guys and girls. Many times in my life when things get frustrating I I've been known to yell out I quit. The funny thing is even though I be scream I quit I have actually never quit. Appreciate all your words and meditating tonight well I pull another Red Eye Express (driving all night) I hit up on what my problem is and then one of you putting it into words. I'm even too big of lot sizes . I feel my strategy is sound and and works well in a volatile Market. I just need to tweak it a little bit more. I have actually not seen the wobble technique performed. My interpretation of it if I'm hearing Shaun tell somebody what to do and when. I'm going to be gold soon because I don't leave Myself any other choice. Refuse to Lose!