Why trade when you are told not to.

[capsmart]

To start I am not complaining for trading when I am told not to trade and lose
The question is why I do it?
And most important will I do it again?
For the second question I am certain, YES.
So let's go back to the first question.

Why would someone (me) do something when he is told not to.
I am not an anarchist in my normal life.
I try to follow the rules and obey to laws.
There is a big difference between the two.
When you brake a rule or a law, like burning a traffic light, the worst thing it can happen is to get killed or kill someone. You can make an accident, pay a ticket, points in the point system or simply nothing if you are not caught.
But... Ahhh.
When you brake the rules and trade, yes you can loose money BUT you can also make money. And serious money. Someone was in the correct direction when price moved 170 pips in one hour.
How can I convince myself not to trade when I am told so???

[mango67]

That is the $465 question Caps. It comes down to discipline & patience. Marc has emphasised this time & time again - even more so this last week or two.
I have been busy away from my computer this week & subsequently have found it reasonably easy to follow his instructions & NOT trade (I didn`t lose a penny). But judging by the comments on this forum, it sounds like many of us have been ignoring his advise & trading for the sake of trading, (& majority have been losing).
Like someone said, get yourself a hobby to keep yourselves occupied / busy during times like this. It will save you heaps of $$money in the long run.

[raa]

I guess one of the options can be a switch to something. Somewhere you can play your gambling desire and lose smaller money than in trading your regular account, still have an option to win some. Like online poker!

Hmm shall we add a poker room to our trading room?

[Tokolosh]

To start I am not complaining for trading when I am told not to trade and lose
The question is why I do it?
And most important will I do it again?
For the second question I am certain, YES.
So let's go back to the first question.

Why would someone (me) do something when he is told not to.
I am not an anarchist in my normal life.
I try to follow the rules and obey to laws.
There is a big difference between the two.
When you brake a rule or a law, like burning a traffic light, the worst thing it can happen is to get killed or kill someone. You can make an accident, pay a ticket, points in the point system or simply nothing if you are not caught.
But... Ahhh.
When you brake the rules and trade, yes you can loose money BUT you can also make money. And serious money. Someone was in the correct direction when price moved 170 pips in one hour.
How can I convince myself not to trade when I am told so???

Capsmart...........when you find out.....please let me know too )

ps i have fond memories of my visit to kos a long time ago

take care toko

[KHGOH]

For someone like Marc who has been trading for 7years and gone through
so many obstacles, more than us and lost money, more than us.
Finally, he has succeeded to become a consistence, discipline, patient and profitable trader.
What he said and advised are worth a lots and save us lots of $$$ as well.
Yes, there are pips to be made during this tumultuous time but what are the odds of winning and losing?
What I have learnt and applied to my strategy is to take one or two trades and win with a bigger reward ratio.
Instead of trading multiple times and make small pips, I will plan my trade and trade once or twice with more lots and with more confident.

[Pierre]

[QUOTE=capsmart;5334]To start I am not complaining for trading when I am told not to trade and lose
The question is why I do it?
And most important will I do it again?
For the second question I am certain, YES.
So let's go back to the first question.

First ---Who made a 170 pips?
Second ---For the same reason men rape woman after they said no, for the same reason we trade against the trend, or can it just be that we have a bond to pay at the end of the month and its today the 17th?

Regards

Pierre

[capsmart]

From the book How to make a living trading foreign exchange
Author Courtney Smith.

Many people trade forex to provide a diversion from their regular life,
perhaps because they feel that it is boring or not stimulating enough. They
could call their bookie or they could call their broker. It beats sitting at
home and watching TV.
Another reason that many people like to invest in forex is because they
like to solve the puzzle of what makes the market go up and down. They
want to be able to predict the market.
It’s interesting to note that nearly all the articles and books written
about forex trading are about entry and exit techniques. Yet trading techniques developed by Richard Donchian in the 1960s have been shown to make money for every year since then. We already know techniques that make money, yet 90 percent of traders lose money. Odd? Yes! It is clear to me that it is more important for many people to continue to figure out what makes the market tick or to figure out new entry and exit techniques than to make money. Rather than use the old tried-and-true techniques and make money, they prefer to try to figure out new techniques.
There is a common desire in many to want to figure out puzzles. The
market is a very challenging puzzle to be solved and attracts many people
to do just exactly this. They are fascinated by the puzzle. They want to find a new way to beat the market

[raa]

Psychology.. this is why I increasingly like news trading. You know when to trade, you know conditions of entry, exit, and trade lasts seconds, not time for a second thoughts and worrying. And its possible to get rich this way. Still I want to have tech trading as my main trading, just because of Caps posted, an intellectual challenge, mastering this craft and making money by being smart.

[frieda]

when I was little, my grandmother had one of those cast iron big glowing stoves. I was wearing a dress that she had made, I think synthetic fabrics were the thing then. She told me not to go too close to the stove, my dress would melt... so.... I carefully, when no one was watching, grabbed it by the pocket, and approached it slowly to the stove.... and melted a big hole in the pocket. I think it is a personality thing.

I think as forex traders we are probably all fiercely independent, we have to prove we can be successful in the hardest circumstances. Against all odds. We need to prove we are not 95% of the traders out there.

The thing is, when Marc advises us not to trade... he is not forbidding us. It is no law... but it is common sense. You have to experience it a few times before you realize that yeah, the risk is too high. It is actually fun to lose 1800 dollars... on a demo. So now, if I have to prove that I can do it on no-no days, I'll do it on a demo. The satisfaction of winning is the same... and the satisfaction of losing is huge, if you did not take it live.

frieda

[capsmart]

The Scorpion and the Frog

One day, a scorpion looked around at the mountain where he lived and decided that he wanted a change. So he set out on a journey through the forests and hills. He climbed over rocks and under vines and kept going until he reached a river. The river was wide and swift, and the scorpion stopped to reconsider the situation. He couldn't see any way across. So he ran upriver and then checked downriver, all the while thinking that he might have to turn back.
Suddenly, he saw a frog sitting in the rushes by the bank of the stream on the other side of the river. He decided to ask the frog for help getting across the stream.
"Hellooo Mr. Frog!" called the scorpion across the water, "Would you be so kind as to give me a ride on your back across the river?"
"Well now, Mr. Scorpion! How do I know that if I try to help you, you wont try to kill me?" asked the frog hesitantly.
"Because," the scorpion replied, "If I try to kill you, then I would die too, for you see I cannot swim!"
Now this seemed to make sense to the frog. But he asked. "What about when I get close to the bank? You could still try to kill me and get back to the shore!"
"This is true," agreed the scorpion, "But then I wouldn't be able to get to the other side of the river!"
"Alright then...how do I know you wont just wait till we get to the other side and THEN kill me?" said the frog.
"Ahh...," crooned the scorpion, "Because you see, once you've taken me to the other side of this river, I will be so grateful for your help, that it would hardly be fair to reward you with death, now would it?!"
So the frog agreed to take the scorpion across the river. He swam over to the bank and settled himself near the mud to pick up his passenger. The scorpion crawled onto the frog's back, his sharp claws prickling into the frog's soft hide, and the frog slid into the river. The muddy water swirled around them, but the frog stayed near the surface so the scorpion would not drown. He kicked strongly through the first half of the stream, his flippers paddling wildly against the current.
Halfway across the river, the frog suddenly felt a sharp sting in his back and, out of the corner of his eye, saw the scorpion remove his stinger from the frog's back. A deadening numbness began to creep into his limbs.
"You fool!" croaked the frog, "Now we shall both die! Why on earth did you do that?"
The scorpion shrugged, and did a little jig on the drownings frog's back.
"I could not help myself. It is my nature."
Then they both sank into the muddy waters of the swiftly flowing river.
Self destruction - "Its my Nature", said the Scorpion...