Stay calm, be brave, wait for the signs - Jasper Friendly Bear
Trading Myths and Some Forex Math 337 replies
What are your favorite trading myths? 145 replies
Popular Trading Tips: Truths or Myths 36 replies
Dispelling Some Myths on Trading Practices 23 replies
Trading Myths 35 replies
DislikedLet the winners run and cut the losers short.
Duh tell me how.........?
I mean ok it could be true for some traders who have low win rates but u cant just throw it out at every one!
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DislikedI like to think of my system as - if A happens then B happens, C will happen 80% of the time, that is how I approach the forex market.Ignored
DislikedCouldn't agree more. I just taught one of my good buddies how to trade last month. It took me a Saturday afternoon to teach himIgnored
Dislikedyou can risk 12% or so if you have a 90%+ hit pretty much... why not?Ignored
DislikedCause if u get your 10 (in a 100 trades according to your 90% win rate) looses in a row you would loose 65% of your account......
and most people will change their trading system after that.
So i think 1%-2% is a good rule or maybe 3.5% if u have a super win ratio like 90%.
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DislikedAlthough I agree that there really is no secret formula I don't necessarily agree that the markets are always changing in the manner that I think you must mean. Yes, the markets are constantly changing but that change, I believe, can be decifered and consistently exploited. As I said in my previous post, noise, in all of its various manifestations can obscure the undelying Impulse and Corrective wave motion of the market. That wave motion has been the the structure of all time/price plotted charts since the beginning of technical analysis. When...Ignored
DislikedWould you mind sharing a bit of your very simple trading method? e.g., based on what would you decide to take a trade etc. A few sentence or one short paragraph or two would do. I am sure that would help out a lot of newbies and even the experienced. Thanks.Ignored
DislikedYes we all hate it, but it's true and proven that the market is mostly random.
If you believe otherwise then please show me a system/set of rules that consistently beats it.
You can't because if it weren't "random" then a set of mechanical rules could easily be devised to consistently beat it.
It is my belief that one of the first steps a trader should take is to acknowledge and learn how to deal with such predominant randomness in the markets, yet it seems most traders bypass that through ignorant denial.Ignored
DislikedGreat post hermit, one of many on this and other threads I have seen Cindy start.
I hate "the market is random myth" myself, the higher the time frame you look at the less random they look.
I believe big big money moves the markets (by collusion) they create the new major trends all we have to do is capitalise on their changes in direction.
When I started out in this forex game the most important prerequisite was that whatever I learned to help me make money from it had to be sustainable for my lifetime.
As an example I can look...Ignored
DislikedUnless you can't handle the emotional swings, it doesn't matter if you lose 65% as long as you have a positive expectancy ensuring that you'll win in the long run.
Call me aggressive, but I believe that if you have an edge, you should make the most of it. My goal is to attack positions and have a MAXIMUM growth rate with 0% long-term Risk of Ruin. There are times when I go in as big as 8% trying to make the most out of a screaming opportunity (and no, I don't care what you think of the way I trade).
IMO, it would be stupid (both mathematically...Ignored
QuoteDislikedMy goal is to attack positions and have a MAXIMUM growth rate with 0% long-term Risk of Ruin
Dislikedlol
Personally I believe the 95% of traders don't make it statement is a myth.
I just think 95% of people don't have the patience to become a successful trader.Ignored
DislikedCause if u get your 10 (in a 100 trades according to your 90% win rate) looses in a row you would loose 65% of your account......
and most people will change their trading system after that.
So i think 1%-2% is a good rule or maybe 3.5% if u have a super win ratio like 90%.
.Ignored
DislikedYes we all hate it, but it's true and proven that the market is mostly random.
If you believe otherwise then please show me a system/set of rules that consistently beats it.
You can't because if it weren't "random" then a set of mechanical rules could easily be devised to consistently beat it.
It is my belief that one of the first steps a trader should take is to acknowledge and learn how to deal with such predominant randomness in the markets, yet it seems most traders bypass that through ignorant denial.Ignored
DislikedIf you know the basics of the forex market, you should be able to figure it out.Ignored