- | Commercial Member | Joined Dec 2010 | 1,135 Posts
No longer trading forex. Looking for full time job.
PAMM Reviews: What are your good or bad experiences using PAMM? 16 replies
Disciplined life -> Disciplined trading -> Success 8 replies
A Journal To Keep Myself Disciplined 0 replies
The Disciplined Trader - Mark Douglas - Audio Book? 0 replies
Dislikedwell done! been following your journey for a while .....very impressedIgnored
Quoting wmdDislikedIf you watch the charts for as long as i have, sure enough you will start to notice certain things about the way price moves. Some of the things you notice involve a few candles, may be just 2 or 3. Some of the things you notice involve hundreds of candles. You notice these chart patterns repeat again and again. Some times the outcome of these movements is no different to the coin toss. Some times the outcome can be predicted with 'high probability'.Ignored
Quoting wmdDislikedYou will see the same movement on every time frame. However, the chart patterns we will come to have more significance and are easier to see visually on higher time frames.Ignored
Both of these elements will increase the risk of ruin of a traders account. They are from emotions; mainly fear and the sense of anger because of a loss. Although these emotions are good in life but in order to succeed in trading you need them to be in control of your mind logic. So how is this possible?
For me the best solution that I have found is: Always in all conditions when you are trying to make a trading decision ask yourself this question:
Why am I in this trade?
Good trading is: Plan your trade, Trade your plan.
Now before I open a trading position I make my mind clear on all aspects of it. "Plan your Trade". Now when in the trade by this question I could "Trade your plan" more efficiently.
Regards,
More reading on this subject: here and here.
DislikedCan you talk about your thoughts during this drawdown period? TPOTrader fell into steep decline and so did several other long time traders with live TradeExplorers. How do we get back into confidence and still believe that the next trade will work? In your case, how do you handle worried clients to the PAMM service?Ignored
After these issues, I realized what was wrong. The most important thing is that you should realize what is wrong in the first stages of going under water and stop it. Than in the previous week I did the below:
QuoteDislikedMohammad, Don't think six sense. These things are subjective. Use clear objective thinking so you could correctly feel her how she dance
Regards,
DislikedAre you continuing with the PAMM service? Can find your TradeExplorer nor Myfxbook for a while now.Ignored