DislikedWe all learn differently, so what may work for me, may not work for you.Ignored
Living the adventure in my head.
Discipline, Mental Skills and the Psychology of Trading 26 replies
Psychology, Trading and You 32 replies
mass psychology and self-fulfilling TA 1 reply
money management and psychology on trading.. 10 replies
Trading Basics: Concepts and Psychology 0 replies
DislikedWe all learn differently, so what may work for me, may not work for you.Ignored
DislikedInternal control and so taking only the A1 trades based on a good analysis.
Most new traders think that they don’t trade if they don’t have an open position.
I hope that doesn’t fall in the psychology rubricIgnored
DislikedYes, Internal controll would be classed as psychology in my eyes.
Would you be able to mechanically describe an A-trade? I dont mean actually post it here, just if you had to then could you?Ignored
DislikedWhat can I say about money management. Well money management is part of the key to success in FX. In my opinion there should never be risk of more than 1% on any trade no matter the time frame. The problem I find is when MM meets the psyc fastor in FX. The internet is filled with bogus ads claiming FX is the instant road to riches.....WRONG. FX is hard work like any other carreer. This bother me to no end when I see these ads. Playing of people emotions. I dont thinks theres any place for there not to be MM skills in FX. My favousite equation for...Ignored
DislikedBut we are in agreement that a system with defined stops, entries and TPs that are followed without a second thought will work the same for all?Ignored
DislikedYes, I would be able to describe it, depending on the system I trade in that moment.
Well, if it falls under psychology, may I have two Toblerone instead of one and the flowers?Ignored
DislikedSo, Just to extract the main point of what your saying. What does an A-trade need to be an A-trade? That would in effect be the answer to the threads question, what characteristic of the market is most important to you(would be a good way to put it)?
Sorry, I only offered Craig the Toblerone because I knew he would have to send it back, I really love Toblerone you see....Ignored
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When several circumstances coming together the percentage gets higher, let’s say a Pinbar touching in overbought RSI condition a daily pivot which is also 61.8 Fib of the last stronger move.Ignored
DislikedHow about a pinbar followed by an outside bar forming a double top at triple fibo confluence that's also flipover S/R (see point "X" in the attached chart)?
Or a regular three piece quarter pack with fries, a small coleslaw, an extra potato and gravy, two cheesecake desserts and a diet pepsi?
Seriously though Cobra, I agree, confluences go a long way toward creating A grade setups.
As you point out, the more factors (e.g. S/R, fibos, round numbers, trendlines, pivot levels, etc) that coincide at a certain point, the...Ignored
Dislikedexperience i guess. the longer you are around, the more you learn. that's just fact, unless you're brain dead or whatever. but that doesn't help for each individual trade, which it seems like that's what you're asking for, but it will help your trading overall. but you don't just get it overnight obviously. i don't know dude. other than that (and the two never to be mentioned items) there really isn't much out there that actually makes a trade/trader successful. maybe increase the probability of winning more than 50% of the time, but not...Ignored
DislikedAlright I'll chime in.
First, someone mentioned earlier that systems are profitable based on historical probabilities.
I think this whole probability rampage should be trimmed down a bit to understand what is really going on when you calculate the statistical factors of a system. There is a lot of talk that indicate there is confusion about the cause and effect of probabilities and outcomes. I see many basing their system entirely on the fact that probabilities are in their favor. This is to say that the historical probabilities cause the future...Ignored
Dislikedi kinda disagree with you a little,historical data does play and important part in trading and contrary to what some may have you to believe there are chart patterns that have preformed for years and years without failure you just have to find them?Ignored
Dislikedi kinda disagree with you a little,historical data does play and important part in trading and contrary to what some may have you to believe there are chart patterns that have preformed for years and years without failure you just have to find them?Ignored
DislikedAlright I'll chime in.
First, someone mentioned earlier that systems are profitable based on historical probabilities. ........Ignored
DislikedIts possible you have accidentally found an edge, a reverse engineered one. But It would be wise to try and find out why these patterns work, It may lead to other methods/edges.Ignored