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I am desperate for help and advice.
I am a long-time trader (since 1989), mainly in forex. A student of Dr. Tharp. I've attended his seminars.
My problem is that recently, I simply have a mental block that makes me unable to trade. I have studied very hard, almost 3 months full-time. I've put in 10 to 12+ hours a day studying and creating an effective system geared for delayed data, all that I can afford right now.
I feel personal pressure in my life (engagement but can't afford a ring yet, and she kicked me out until I can prove to her that I can do this).
My account is underfunded. I meditate every day.
I constantly watch what I am about to trade. However, I constantly watch opportunities slip by as I sit frozen.
How can I get over this mental blockage?
I don't know about others, but am finding taking meds can inhibit and pacify and tonight, decided to end them. Guess this completes the details. If anyone wants to know more or help me in giving advice, this is what I am here for. ...so please ask away!
for this thread. You'd get better advice starting a new thread, but briefly:
- stop trading cash until you can properly fund your account
- start keeping a detailed trade journal real-time
- don't trade with rent money
once above is accomplished, trade a very tiny size, like $1/pip forex and never risk more than 2% on any single trade. Rinse, repeat until you hit more like 10,000 hours (at 3 months you are only at 600-700 hours, but I am confused you said you traded since 1989 but hard for 3 months?) and you should finally have the experience you need to start making more than you lose.
If you want to discuss further, please create a new thread.
No, I'm not trading with rent money but an account I've long held.
One of my problems that I realized after my posting was that I had previously used a real-time feed. In the delay format, I've kept searching and playing a waiting game. This has been a frustration point, searching, waiting for info that wasn't there. In the end, I've let the moves slip away in frustration. You want to be on top of everything and time your entry just right. But how can you while waiting for the feed? You could say I'm wrong, but as a strategic trader, how can I make decisions on what information is not on my screen and what I don't know? Sure, this is a belief, and we trade how we believe. I just changed it over to real-time. We will see how things go now.
Hi wanted to say hello. Usually not a big fan of trading forums but slowly got drawn into this site and have now signed up - I like the sense of community I have found here. I am re-entering trading after close to a decade of being out of the markets. Traded equities full time independently from a fundamental/discretionary basis successfully for many years. Also have some institutional FX experience. Currently in what I describe as my research stage so not actively trading yet. Currently testing out platforms (leaning toward NT as an execution platform) though have some reservations about some aspects of the system. Also newly exploring technical analysis as an aide and better appreciating what it can contribute to my methodology. On that note Big Mike you offered access to a TS Volatility Indicator on TraderWerks but haven't been able to get access to it. And, anyone have a market profile or quasi market profile indicator for NT that I can try out? Thanks all.
The banner across the top says I have been a member for 333 days and haven't posted yet so it may be about time.
I haven't been lurking the whole time, just the first 30 or 40 days while I had a demo datafeed and then started again two or three weeks ago as I was finally able to fund an account to get a real datafeed started up.
I have been looking into all kinds of methods to get a strategy of any kind working but haven't found one quite yet. I don't have much time to sit and watch the market as I have a full-time day job and I don't have too much time in the evenings as the kids aren't in bed until about 9pm. The wife isn't very excited about the idea (she thinks this is purely gambling which is irritating because she is almost right ) so I just do research when I can between 9 and about 10pm.
Not having much time, I feel I need to lean towards automating some method that can run while I keep my full-time job with benefits going. The family will not be too happy without health care. Or food.
I have read enough on this forum to know this all sounds like a disaster waiting to happen, but I am willing to wait and stay in sim mode until I know something will actually work. This may take years. I am hoping, however, that it doesn't (it could happen).
I have written a couple of indicators and a few strategies but still consider my understanding of NinjaScript to be fair at best; especially the order management parts. And digging into the indicators to use in strategies is difficult at times. I mean, WTF is up with:
That's way too much work in my opinion.
Anyways... that is about it for my lengthy introduction so please feel free to offer any advice you may have, keeping in mind I already know this sounds poorly planned.