Mitpat - Been 18 Months Since I Retired, What Have I Missed?
2016-10-25, 01:50 AM,
#31
Hey, as a soldier I have some "dead-time" in trains, busses, etc.. and I thought reading in that time would be great
Are there any specific books that you recommend me to read?
I have seen some books about investing in previous comment, but do you have more books that you recommend?

Thakns!
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mitpat(2016-10-25 05:53 AM) 
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2016-10-25, 05:02 AM, (This post was last modified: 2016-10-25, 05:53 AM by mitpat.)
#32
(2016-10-24, 06:00 PM)paradise Wrote: Thank you for your detailed answer. Would you be able to write down your daily routine?

And yes it would be great, if you could recommend any trading forums suitable for beginners as well as the professionals.

My daily routine is the following

Monday to Friday

5:00am to 5:30am - Wake up, eat breakfast, take shower and brush teeth

5:30am to 6:30am - Prepare for market opening (not really opening but all the big players start at 8am), this involves catching up on all overnight news, identifying key technical levels and reviewing the previous days trading diary

6:30am to 12:00am - Morning trading session, throughout this time I'll listening for unexpected news, doing lots of reading (both market news and reading books). I'll also be placing trades, stop losses, profit targets etc. When the time is available I'll be writing in my trading diary the reasons for my trades, lessons, my emotional state etc.

12:00am to 1:00pm - This isn't a strict time as sometimes I'm trading in this time period too but it is around this time I eat my lunch

1:00pm to 4:00pm - Afternoon trading session, throughout this time I'll listening for unexpected news, doing lots of reading (both market news and reading books). I'll also be placing trades, stop losses, profit targets etc. When the time is available I'll be writing in my trading diary the reasons for my trades, lessons, my emotional state etc.

4:00pm to 4:30pm - Review my day, through my trading diary. This involves all my trades, why I placed them, lessons, my emotional state and any other observations

5:00pm to 6:00pm - Working out at the gym. I just do a simple dumbbell workout to hit all my muscles on Monday and Friday. The other days is aerobic exercise.

6:00pm to 8:00pm - Eat supper (I eat very light - usually only 400 calories), take shower, brush teeth and get ready for bed

8:00pm - In bed asleep

Saturday and Sunday

I still wake up, eat and go to sleep at the same times during these days but I have these days to do whatever I choose. Sometimes I went be reading a lot or I might be doing something completely unrelated.

Sunday 6:00pm - I read all the news and my previous trading diary to prepare for Monday and note down anything of note.


Honestly I wouldn't recommend forums for trading, what I'd recommend are certain courses

A good beginners course - e.g the free one on forexpeacearmy. It will be a lot of information to absorb but you really need to at least know about it.

Jarratt Davis - Gives you a solid grasp of the market and how to trade from an industry outsiders point of view. Much more focused on the emotional side of trading

Anton Kreil - Gives you a solid grasp of the market and how to trade from an industry insiders point of view. Much more focused on the technical side of trading.

(2016-10-24, 06:07 PM)ςσsmiη Wrote: About your journey, are you kidding me? I had read your journey many times and also I took notes from it and put them in a notebook I have with all the info I could gather from journeys/forums, YouTube etc. The most information I got from yours and Quattroporte's.

I have so many questions...you're a millionaire in a field (talking about CPA/Marketing) where I barely make beer money.
I have a big problem with procrastination & lack of motivation that I'm currently working on, but thats other story.


My first question will be: How did you manage to wait for money/results coming from your WH projects. I mean I currently earn 0.xx$ per month (every month more than previous). I am scaling things up, improving, etc but 0.22 is twice as much as 0.11 but still is 0.22$. You get me, nothing x something = nothing.

My mind is blank right now. You should've make an announcement like "mitpad is coming" so I'll made a list with my best questions.

For me waiting around for earnings wasn't so bad. The first month I made a few hundred dollars but my blackhat stuff filled the gap in enough to let me keep going. I've got to stress that it really shouldn't take more than 3 months to comfortably get to $1000 per month. The biggest thing with whitehat is you've really got to advertise differently. Starting of spamming and trying to get ranked in search engines will likely take you no where.

You need to focus on quality content and getting people to come to your site voluntarily. For example when I started my celebrity news site I posted a lot of news snippets to facebook, individual celebrity websites and other news sites. This worked okay but didn't do that well and was taking up too much of my time.

Reading what people were posting on other sites I realised it was because I didn't really care about celebrity news, I was only interested in the money. Instead what I found were a few really good posters in the comment sections of some of these sites. Some were writing better comments than the entire article they were talking about. You could see a huge part of the engagement of these websites were just these few users but the websites hadn't recognised that.

So I contacted them and found that they were basically bored housewives with very young children and a lot of free time. I made a simple deal with them, they'd come and post on my website and in exchange they'd get paid for it. I also listened to all their feedback on how to improve the site and made the process extremely easy for them. After a few months these group of less than 20 women had brought over tens of thousands of users. It turned out that what I enjoyed is listening to and developing ideas and being the bridge to the developers and designers to implement the ideas. This simple realisation was the foundation of my huge success, I had a lot of fun doing it.

Reading your post it seems to me your biggest problem is yourself. You freely admit you lack motivation and procrastinate a lot. These are really symptoms of doing something you don't really like so the question you need to ask yourself is why?. Is it because like me you're doing the wrong part of the job or have you just made a false start?. Or do you have unrealistic expectations?, you really should be doing something you like or finding an aspect of it you like and doing that(like I did).

Finding the root of your lack of motivation is the key to your success.

(2016-10-24, 09:31 PM)CheDz Wrote: How old are you mitpat?

27 and turning 28 next month

(2016-10-25, 01:50 AM)Idanushka Wrote: Hey, as a soldier I have some "dead-time" in trains, busses, etc.. and I thought reading in that time would be great
Are there any specific books that you recommend me to read?
I have seen some books about investing in previous comment, but do you have more books that you recommend?

Thakns!

I have found that dead times are great for reading. For somewhere noisy like a train I'd say maybe an audiobook is better (I listen to them when doing boring tasks - mowing the lawn, hoovering, brushing teeth, travelling etc)

Books I'd recommend are the following, these are available in audiobook format

  1. The 4 hour work week
  2. The $100 Startup - Everyone on this forum should read this book
  3. The 7 Habits of Highly Effective People
  4. The Power of Habit by Charles Duhigg
  5. The Chimp Paradox
  6. Zero to One by Peter Thiel
  7. All the "Market Wizards" books by Jack Schwager

Also the following which I don't think are available in audiobook format

  1. All 3 of Peter Lynch's books
  2. Jeff Bezos and the Age of Amazon
  3. How to Win Friends and Influence People
  4. You can have an Amazing Memory by Dominic O'Brien
  5. Power Foods for the Brain by Neal Barnard

There are lots of other books but you should be able to find them on your own. These are just the ones I remember.
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Christer(2016-11-09 03:56 AM) Antonio(2016-10-29 07:35 PM) freezone(2016-10-26 04:01 PM) davd01(2016-10-25 04:10 PM) paradise(2016-10-25 03:07 PM) ςσsmiη(2016-10-25 02:24 PM) 

Please don't message me with mentoring or business proposals as I simply do not have the time. If you need any help please use the link below for the helpdesk.

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2016-10-25, 07:46 AM, (This post was last modified: 2016-10-25, 07:47 AM by ℛᴏʏᴀʟ ɢs.)
#33
When you were doing BH back in the day, how did you deal with not looking suspicious to the bank (assuming you had little outgoing expenses.)

You can earn an absolute ton without much investment at all, but I am concerned that a bank and HMRC could turn around and call it out as being odd - which, of course, it kind of is. I suppose you never had any real troubles.

P.S - grats on successfully trading with Forex.
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2016-10-25, 08:57 AM,
#34
(2016-10-25, 07:46 AM)ℛᴏʏᴀʟ ɢs Wrote: When you were doing BH back in the day, how did you deal with not looking suspicious to the bank (assuming you had little outgoing expenses.)

You can earn an absolute ton without much investment at all, but I am concerned that a bank and HMRC could turn around and call it out as being odd - which, of course, it kind of is. I suppose you never had any real troubles.

P.S - grats on successfully trading with Forex.

Basically once I started making money I spoke to my accountant and he sorted out my taxes. I know it's a boring answer but taxes should not take up much of your focus else you're focusing on the wrong thing.

Note when I started I was already making money from other avenues (investments and other odd sources) so i already had an accountant who was used to me submitting new earnings from seemingly random sources.

My banks are the funniest ones, it's taken them years to get used to the huge deposits and withdrawals in my account. Now that they're used to it they're constantly offering me new credit cards even though they know I don't need it. I once got told I would be rejected for a credit card because of a lack of account activity - this is despite having the account for more than 10 years and at times having 6 figure sums in it!
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ℛᴏʏᴀʟ ɢs(2016-10-25 08:32 PM) 

Please don't message me with mentoring or business proposals as I simply do not have the time. If you need any help please use the link below for the helpdesk.

Reply
2016-10-25, 10:39 AM, (This post was last modified: 2016-10-25, 11:35 AM by Daenerys.)
#35
Man life is crazy, I remember the talk you gave me on skype and stuff haha. I'm not the same person that we talked on at skype but ive learned a lot even though i never got to doing internet marketing. I recently quit my job because i realized i couldn't work for the money i hated what i did so i left. Self-motivation and consistency is the hardest for me and i trying to fix them. I find it crazy how you worked so many hours i try to sit down its hard but now that i know my issue its easy to fix. BTW i was the guy who we talked about stocks etc, and i had a friend who was very successful and you wanted to talk to him. I actually stepped up recently and took ACTION so i will be trading forex on 1:1000 leverage with small lot sizes to get started. The end goal and the goal always was get 10k to start trading. Its not that i don't like CPA ive dont BH and made around $300 then i started forming really bad habits. Message me on skype again sometime

Im also currently in some student debt so and bills to pay so it's now or never i have enough to last me 1-2 months with $1000 - no school debt just credit.
The only issue is i want to do WH but i need money NOW, BH will never make as much money as WH but is much slower. We talking about it mitpat thats why im going to pick whitehat!

Edit: We all have the mind and power to be successful or even greater than mitpat but we have to put in the time and that's where most failed including my self! working at a job i hated for 3 months is a wake-up call for me so i am going to try it out and see how it works out sorry for the repeat stuff its late here and I'm suppose to be writing a paper. The main issue fo this are habits as mitpat explained. Mine are horrible sometimes ill be on good streaks , then bad. The worst habit i have is saying ill do something and don't or planning it out and not following through. I planned 6 hours of work lunches , school etc all out but never follow it because i never wake up on time at 5am. I know im my brain i need to change them but it feels impossible until you do


Sorry for the bad grammar, and i checked the other post its funny because it looks like i have the same issues you had the biggest one being bad habits but im also not even an adult yet that could be why. Time to spend some tie learning how to fix them! Also to add on to mitpat a good source to learn forex is babypips.com I'm currently using it made a 40 pip move yesterday read it all! Not all trades will be winners, make sure you have targets and stops :). Never trade what you aren't willing to loose and if you get into forex start small or with a demo account i limit my self to a highest of .2 lot at 1000 margin which is CRAZY risk every pip is $2 loss or profit.

No amount of motivation can self-motivate yourself I'm living proof i lived off of watching others success and if you want to be successful you need to find your own path otherwise you will be miserable thinking you can never make it i still sometimes think it, after years of being a lurking and listening to other people i feel like its the time to do it. 40 mins into typing this it's 12am and i have a accounting test in 12 hours wish me luck i have two chapters!

My last question to you mitpat ... the one you've heard 1000 times, could you mentor me for the sole purpose of habit forming. I need someone who can check with me like once a week for like 10-20min and just be like Hey, did you do x,y and z. If yes good! if no , lets go over why etc.
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mitpat(2016-10-25 12:58 PM) 
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2016-10-25, 01:06 PM,
#36
(2016-10-25, 10:39 AM)Daenerys Wrote: Man life is crazy, I remember the talk you gave me on skype and stuff haha. I'm not the same person that we talked on at skype but ive learned a lot even though i never got to doing internet marketing. I recently quit my job because i realized i couldn't work for the money i hated what i did so i left. Self-motivation and consistency is the hardest for me and i trying to fix them. I find it crazy how you worked so many hours i try to sit down its hard but now that i know my issue its easy to fix. BTW i was the guy who we talked about stocks etc, and i had a friend who was very successful and you wanted to talk to him. I actually stepped up recently and took ACTION so i will be trading forex on 1:1000 leverage with small lot sizes to get started. The end goal and the goal always was get 10k to start trading. Its not that i don't like CPA ive dont BH and made around $300 then i started forming really bad habits. Message me on skype again sometime

Im also currently in some student debt so and bills to pay so it's now or never i have enough to last me 1-2 months with $1000 - no school debt just credit.
The only issue is i want to do WH but i need money NOW, BH will never make as much money as WH but is much slower. We talking about it mitpat thats why im going to pick whitehat!

Edit: We all have the mind and power to be successful or even greater than mitpat but we have to put in the time and that's where most failed including my self! working at a job i hated for 3 months is a wake-up call for me so i am going to try it out and see how it works out sorry for the repeat stuff its late here and I'm suppose to be writing a paper. The main issue fo this are habits as mitpat explained. Mine are horrible sometimes ill be on good streaks , then bad. The worst habit i have is saying ill do something and don't or planning it out and not following through. I planned 6 hours of work lunches , school etc all out but never follow it because i never wake up on time at 5am. I know im my brain i need to change them but it feels impossible until you do


Sorry for the bad grammar, and i checked the other post its funny because it looks like i have the same issues you had the biggest one being bad habits but im also not even an adult yet that could be why. Time to spend some tie learning how to fix them! Also to add on to mitpat a good source to learn forex is babypips.com I'm currently using it made a 40 pip move yesterday read it all! Not all trades will be winners, make sure you have targets and stops :). Never trade what you aren't willing to loose and if you get into forex start small or with a demo account i limit my self to a highest of .2 lot at 1000 margin which is CRAZY risk every pip is $2 loss or profit.

No amount of motivation can self-motivate yourself I'm living proof i lived off of watching others success and if you want to be successful you need to find your own path otherwise you will be miserable thinking you can never make it i still sometimes think it, after years of being a lurking and listening to other people i feel like its the time to do it. 40 mins into typing this it's 12am and i have a accounting test in 12 hours wish me luck i have two chapters!

My last question to you mitpat ... the one you've heard 1000 times, could you mentor me for the sole purpose of habit forming. I need someone who can check with me like once a week for like 10-20min and just be like Hey, did you do x,y and z. If yes good! if no , lets go over why etc.

Ok there are are a few things to talk about here and I'm going to be brutally honest, you're not going to like this but this is my opinion and you're free to take it or ignore it.

1. You really need to eliminate all your debts first, if you can sell stuff to eliminate it then do it else I think you should get a job too. Going trading with a 2 month ticking time bomb IS going to sabotage your trading and you're going to regret it.

2. It sounds like you're trying to use forex to solve all your problems but forex is a terrible industry for that. Forex is really suited for either someone who has a lot of money already or intends to manage other people's money. The example you gave of 0.2 lots at 1000x leverage is insane to me, you'll lose everything (seriously read that again, you're about to do something I've been warned and warned about and shown the results of). My absolute limit is 10x leverage and only an extremely select number of trades and only if the volatility, technicals and fundamentals support it.

As an example if you had gone long on the GBPUSD on the 7th October you would have lost £723.68 at 0 leverage and 0.2 lots, at 1000x leverage you would have lost £723,680.00. This move happened in less than 5 seconds and stop losses were well blown through, even the retracement(which you wouldn't have able to use) only recovered 75% of the loss so you would still have lost over £100,000.00.

If you can't survive any market shock then you will go bust. When the banks were all going bust they were at 40x leverage! (which everyone considered to be crazy gambling)

I got trained by a former Goldman Sachs trader who was in forex for 10 years - he charged over £30,000 for his training and it was worth every penny. He left the industry in 2006 because of the crazy leverage. A big part of his training was making me realise all the crazy risks you can get sucked into doing forex.

3. Habit forming really requires someone who can keep you in check no matter what, particularly someone close. Even then the success still comes mainly from your own willpower. From reading all the things you're doing - forex, accounting, maybe job hunting etc I'd say you're over stretched. Personally if I were you I'd focus on getting a job and sorting out your debts. Then once you've done that focus on fixing your bad habits. Only then would I say you should look into forex or whitehat IM (personally if I were you then at this point I'd look at whitehat IM).

I'm really sorry if that's not what you wanted to hear but I feel like it's what you need to hear. I'm not saying I have all the answers but from my own experience as well as that I've learn't from others that's what I know.
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ςσsmiη(2016-10-25 09:18 PM) Daenerys(2016-10-25 08:57 PM) davd01(2016-10-25 04:17 PM) 

Please don't message me with mentoring or business proposals as I simply do not have the time. If you need any help please use the link below for the helpdesk.

Reply
2016-10-25, 01:52 PM,
#37
(2016-10-24, 07:09 AM)mitpat Wrote: Take it from me money doesn't make you happy, a lack of it does make you miserable though.

I would disagree with that and my opinion is that you spend too much time on working and you keep having the same routine, which mostly consists of work. If you take a break and start spending your money wisely, you will see how much fun it is.. if you need help on how to spend them, I am here lol
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mitpat(2016-10-25 03:31 PM) 

#projectGodfather
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2016-10-25, 03:55 PM,
#38
(2016-10-25, 01:52 PM)fotiskaf Wrote:
(2016-10-24, 07:09 AM)mitpat Wrote: Take it from me money doesn't make you happy, a lack of it does make you miserable though.

I would disagree with that and my opinion is that you spend too much time on working and you keep having the same routine, which mostly consists of work. If you take a break and start spending your money wisely, you will see how much fun it is.. if you need help on how to spend them, I am here lol

I can't quite tell if you're being serious or sarcastic (or both), my reply is that I get paid for doing what I enjoy. If I get bored I'll just stop and go do something else. The things I enjoy are just not what most people enjoy, it just so happens that it pays well.

My routine is what makes me a lot happier, no drama or chaos but if it feels like it's getting stale I just change it, I change my routine every few months anyway.

You laugh but spending someone else's money is an actual job. The super rich have them to make their lives easier and they go buy anything from simple groceries all the way up to cars and houses. They try on nice clothes, test super cars, sample high end food, tour ultra luxurious homes - do I sound like a saleman yet :D

Please don't message me with mentoring or business proposals as I simply do not have the time. If you need any help please use the link below for the helpdesk.

Reply
2016-10-25, 09:10 PM, (This post was last modified: 2016-10-25, 09:26 PM by Daenerys.)
#39
(2016-10-25, 01:06 PM)mitpat Wrote:
(2016-10-25, 10:39 AM)Daenerys Wrote: Man life is crazy, I remember the talk you gave me on skype and stuff haha. I'm not the same person that we talked on at skype but ive learned a lot even though i never got to doing internet marketing. I recently quit my job because i realized i couldn't work for the money i hated what i did so i left. Self-motivation and consistency is the hardest for me and i trying to fix them. I find it crazy how you worked so many hours i try to sit down its hard but now that i know my issue its easy to fix. BTW i was the guy who we talked about stocks etc, and i had a friend who was very successful and you wanted to talk to him. I actually stepped up recently and took ACTION so i will be trading forex on 1:1000 leverage with small lot sizes to get started. The end goal and the goal always was get 10k to start trading. Its not that i don't like CPA ive dont BH and made around $300 then i started forming really bad habits. Message me on skype again sometime

Im also currently in some student debt so and bills to pay so it's now or never i have enough to last me 1-2 months with $1000 - no school debt just credit.
The only issue is i want to do WH but i need money NOW, BH will never make as much money as WH but is much slower. We talking about it mitpat thats why im going to pick whitehat!

Edit: We all have the mind and power to be successful or even greater than mitpat but we have to put in the time and that's where most failed including my self! working at a job i hated for 3 months is a wake-up call for me so i am going to try it out and see how it works out sorry for the repeat stuff its late here and I'm suppose to be writing a paper. The main issue fo this are habits as mitpat explained. Mine are horrible sometimes ill be on good streaks , then bad. The worst habit i have is saying ill do something and don't or planning it out and not following through. I planned 6 hours of work lunches , school etc all out but never follow it because i never wake up on time at 5am. I know im my brain i need to change them but it feels impossible until you do


Sorry for the bad grammar, and i checked the other post its funny because it looks like i have the same issues you had the biggest one being bad habits but im also not even an adult yet that could be why. Time to spend some tie learning how to fix them! Also to add on to mitpat a good source to learn forex is babypips.com I'm currently using it made a 40 pip move yesterday read it all! Not all trades will be winners, make sure you have targets and stops :). Never trade what you aren't willing to loose and if you get into forex start small or with a demo account i limit my self to a highest of .2 lot at 1000 margin which is CRAZY risk every pip is $2 loss or profit.

No amount of motivation can self-motivate yourself I'm living proof i lived off of watching others success and if you want to be successful you need to find your own path otherwise you will be miserable thinking you can never make it i still sometimes think it, after years of being a lurking and listening to other people i feel like its the time to do it. 40 mins into typing this it's 12am and i have a accounting test in 12 hours wish me luck i have two chapters!

My last question to you mitpat ... the one you've heard 1000 times, could you mentor me for the sole purpose of habit forming. I need someone who can check with me like once a week for like 10-20min and just be like Hey, did you do x,y and z. If yes good! if no , lets go over why etc.

Ok there are are a few things to talk about here and I'm going to be brutally honest, you're not going to like this but this is my opinion and you're free to take it or ignore it.

1. You really need to eliminate all your debts first, if you can sell stuff to eliminate it then do it else I think you should get a job too. Going trading with a 2 month ticking time bomb IS going to sabotage your trading and you're going to regret it.

2. It sounds like you're trying to use forex to solve all your problems but forex is a terrible industry for that. Forex is really suited for either someone who has a lot of money already or intends to manage other people's money. The example you gave of 0.2 lots at 1000x leverage is insane to me, you'll lose everything (seriously read that again, you're about to do something I've been warned and warned about and shown the results of). My absolute limit is 10x leverage and only an extremely select number of trades and only if the volatility, technicals and fundamentals support it.

As an example if you had gone long on the GBPUSD on the 7th October you would have lost £723.68 at 0 leverage and 0.2 lots, at 1000x leverage you would have lost £723,680.00. This move happened in less than 5 seconds and stop losses were well blown through, even the retracement(which you wouldn't have able to use) only recovered 75% of the loss so you would still have lost over £100,000.00.

If you can't survive any market shock then you will go bust. When the banks were all going bust they were at 40x leverage! (which everyone considered to be crazy gambling)

I got trained by a former Goldman Sachs trader who was in forex for 10 years - he charged over £30,000 for his training and it was worth every penny. He left the industry in 2006 because of the crazy leverage. A big part of his training was making me realise all the crazy risks you can get sucked into doing forex.

3. Habit forming really requires someone who can keep you in check no matter what, particularly someone close. Even then the success still comes mainly from your own willpower. From reading all the things you're doing - forex, accounting, maybe job hunting etc I'd say you're over stretched. Personally if I were you I'd focus on getting a job and sorting out your debts. Then once you've done that focus on fixing your bad habits. Only then would I say you should look into forex or whitehat IM (personally if I were you then at this point I'd look at whitehat IM).

I'm really sorry if that's not what you wanted to hear but I feel like it's what you need to hear. I'm not saying I have all the answers but from my own experience as well as that I've learn't from others that's what I know.


Thanks for the reply, no one like being told there wrong so ill move on from and learn . My debt should be paid off in 3 weeks on my next payment. For the forex part i agree with you mostly for about 90%. Just because i have 1:1000 doesn't mean I'm going to put 100% of my balance it just gives me the opportunity to do bigger lots or actually make a profit with a smaller account size with that being said it won't always be 1000 just starting out ( For example: My friends buddy started with a $200 account, 6 days later it was $3000, he hit a 600 pip move on a .2 lot) i eventually want to do around 1:100 or 1:50 then smaller and smaller. when needed I set my range to a high .2 in demo but so far they have been .01 I'm using a demo account for right now since forex is a little different from options and technical analysis isn't enough its highly viotilile since of news I'm guessing that's what happened on the 7th crazy day!!! I didn't quite check the intra-day but i would have had a 10 pip stop loss I'm not sure if it instantly dropped. That's assuming that huge pip move didn't happen instantly or i would be fucked! Your right on losing account but 100 pip move with .01 lot is only $50 but I totally get your point. Not everyone is right and it could be out of nowhere and destroy my small account. Anyways thanks for the input, totally correct so I'll wait til i have a bigger account and focus on my debt. I don't really care about the money that much, i've been doing it for a passion even before it was legal for me to trade(3-4 years now off and on mostly options made a few $k). Even if i made just enough to live off i would pick it instead of any other jobs in the world.

Also for the majority of the time right now is building income online starting tomarrow i will be putting 3-6 hours a day for cpa so i have steady income. The market is 25/6 so i could even trade a night. From your previous post it seems like the best hours is around 8am though.

You were taught by someone from Goldman, i learned it on my own so you have the upper hand the feed back is great! I learn everyday, so i ended up watching a few habit videos i write down the pros and cons of doing and not doing the task then i have positive and negative reinforcement for the tasks.

Speaking of the GU, it just dropped a few hundred pips !!!
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mitpat(2016-10-26 03:21 AM) 
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2016-10-25, 09:59 PM, (This post was last modified: 2016-10-25, 11:17 PM by Idanushka.)
#40
(2016-10-25, 05:02 AM)mitpat Wrote:
(2016-10-24, 06:00 PM)paradise Wrote: Thank you for your detailed answer. Would you be able to write down your daily routine?

And yes it would be great, if you could recommend any trading forums suitable for beginners as well as the professionals.

My daily routine is the following

Monday to Friday

5:00am to 5:30am - Wake up, eat breakfast, take shower and brush teeth

5:30am to 6:30am - Prepare for market opening (not really opening but all the big players start at 8am), this involves catching up on all overnight news, identifying key technical levels and reviewing the previous days trading diary

6:30am to 12:00am - Morning trading session, throughout this time I'll listening for unexpected news, doing lots of reading (both market news and reading books). I'll also be placing trades, stop losses, profit targets etc. When the time is available I'll be writing in my trading diary the reasons for my trades, lessons, my emotional state etc.

12:00am to 1:00pm - This isn't a strict time as sometimes I'm trading in this time period too but it is around this time I eat my lunch

1:00pm to 4:00pm - Afternoon trading session, throughout this time I'll listening for unexpected news, doing lots of reading (both market news and reading books). I'll also be placing trades, stop losses, profit targets etc. When the time is available I'll be writing in my trading diary the reasons for my trades, lessons, my emotional state etc.

4:00pm to 4:30pm - Review my day, through my trading diary. This involves all my trades, why I placed them, lessons, my emotional state and any other observations

5:00pm to 6:00pm - Working out at the gym. I just do a simple dumbbell workout to hit all my muscles on Monday and Friday. The other days is aerobic exercise.

6:00pm to 8:00pm - Eat supper (I eat very light - usually only 400 calories), take shower, brush teeth and get ready for bed

8:00pm - In bed asleep

Saturday and Sunday

I still wake up, eat and go to sleep at the same times during these days but I have these days to do whatever I choose. Sometimes I went be reading a lot or I might be doing something completely unrelated.

Sunday 6:00pm - I read all the news and my previous trading diary to prepare for Monday and note down anything of note.


Honestly I wouldn't recommend forums for trading, what I'd recommend are certain courses

A good beginners course - e.g the free one on forexpeacearmy. It will be a lot of information to absorb but you really need to at least know about it.

Jarratt Davis - Gives you a solid grasp of the market and how to trade from an industry outsiders point of view. Much more focused on the emotional side of trading

Anton Kreil - Gives you a solid grasp of the market and how to trade from an industry insiders point of view. Much more focused on the technical side of trading.

(2016-10-24, 06:07 PM)ςσsmiη Wrote: About your journey, are you kidding me? I had read your journey many times and also I took notes from it and put them in a notebook I have with all the info I could gather from journeys/forums, YouTube etc. The most information I got from yours and Quattroporte's.

I have so many questions...you're a millionaire in a field (talking about CPA/Marketing) where I barely make beer money.
I have a big problem with procrastination & lack of motivation that I'm currently working on, but thats other story.


My first question will be: How did you manage to wait for money/results coming from your WH projects. I mean I currently earn 0.xx$ per month (every month more than previous). I am scaling things up, improving, etc but 0.22 is twice as much as 0.11 but still is 0.22$. You get me, nothing x something = nothing.

My mind is blank right now. You should've make an announcement like "mitpad is coming" so I'll made a list with my best questions.

For me waiting around for earnings wasn't so bad. The first month I made a few hundred dollars but my blackhat stuff filled the gap in enough to let me keep going. I've got to stress that it really shouldn't take more than 3 months to comfortably get to $1000 per month. The biggest thing with whitehat is you've really got to advertise differently. Starting of spamming and trying to get ranked in search engines will likely take you no where.

You need to focus on quality content and getting people to come to your site voluntarily. For example when I started my celebrity news site I posted a lot of news snippets to facebook, individual celebrity websites and other news sites. This worked okay but didn't do that well and was taking up too much of my time.

Reading what people were posting on other sites I realised it was because I didn't really care about celebrity news, I was only interested in the money. Instead what I found were a few really good posters in the comment sections of some of these sites. Some were writing better comments than the entire article they were talking about. You could see a huge part of the engagement of these websites were just these few users but the websites hadn't recognised that.

So I contacted them and found that they were basically bored housewives with very young children and a lot of free time. I made a simple deal with them, they'd come and post on my website and in exchange they'd get paid for it. I also listened to all their feedback on how to improve the site and made the process extremely easy for them. After a few months these group of less than 20 women had brought over tens of thousands of users. It turned out that what I enjoyed is listening to and developing ideas and being the bridge to the developers and designers to implement the ideas. This simple realisation was the foundation of my huge success, I had a lot of fun doing it.

Reading your post it seems to me your biggest problem is yourself. You freely admit you lack motivation and procrastinate a lot. These are really symptoms of doing something you don't really like so the question you need to ask yourself is why?. Is it because like me you're doing the wrong part of the job or have you just made a false start?. Or do you have unrealistic expectations?, you really should be doing something you like or finding an aspect of it you like and doing that(like I did).

Finding the root of your lack of motivation is the key to your success.

(2016-10-24, 09:31 PM)CheDz Wrote: How old are you mitpat?

27 and turning 28 next month

(2016-10-25, 01:50 AM)Idanushka Wrote: Hey, as a soldier I have some "dead-time" in trains, busses, etc.. and I thought reading in that time would be great
Are there any specific books that you recommend me to read?
I have seen some books about investing in previous comment, but do you have more books that you recommend?

Thakns!

I have found that dead times are great for reading. For somewhere noisy like a train I'd say maybe an audiobook is better (I listen to them when doing boring tasks - mowing the lawn, hoovering, brushing teeth, travelling etc)

Books I'd recommend are the following, these are available in audiobook format

  1. The 4 hour work week
  2. The $100 Startup - Everyone on this forum should read this book
  3. The 7 Habits of Highly Effective People
  4. The Power of Habit by Charles Duhigg
  5. The Chimp Paradox
  6. Zero to One by Peter Thiel
  7. All the "Market Wizards" books by Jack Schwager

Also the following which I don't think are available in audiobook format

  1. All 3 of Peter Lynch's books
  2. Jeff Bezos and the Age of Amazon
  3. How to Win Friends and Influence People
  4. You can have an Amazing Memory by Dominic O'Brien
  5. Power Foods for the Brain by Neal Barnard

There are lots of other books but you should be able to find them on your own. These are just the ones I remember.

As a soldier, if I get caught with 2 headphones in my ears (I can wear in one ear only), I can get fined, but YOLO

Another question:
Is there any book that can help me to jump into forex? I saw that you recommended forexpeacearmy course but I prefer a book or audiobook, somethingl ike that,
Reply


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