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Thinking Like A Trader

  • #1
  • First Post: Oct 9, 2018 8:17am Oct 9, 2018 8:17am

OVERVIEW

As the name of the thread suggest, in this thread we will discuss about what separates a TRADER from a INVESTOR and most importantly what it takes to leave the 95% Trader group.

Rules to be a trader:

1. A trader never stay for months in a trade, they get in, take profit and exit.
2. A trader never pray to God for the price to move in their favor. Before entering they already know the general price direction and accept loss if required.
3. A trader always have a fixed ENTRY and EXIT conditions. we never get greedy or fearful and hold on to the trades.



My name is Deb, I trade manually without any indicators, but i do use automation whenever required. Let me try to solve your trading issues.

  • #2
  • Oct 9, 2018 8:35am Oct 9, 2018 8:35am

The very first decision, which determine our probability of success in trading.


Most trader trade currency pairs randomly without even understanding, all the pairs are not tradeable every moment. As a result, the trade they take sometime just move sideways and sometime kills them too.
To find the pairs which are good for trading , we should always check the strength of individual currency which makes the half of the pair.

There is no indicator that is available to find our currency strength accurately, but we don't need any indicator. We can do them manually.
We just need to compare a currency in few pairs to know its market condition. Then just take only those currency to trade which are strong at one side.
This is called currency correlation, but trust me, you don't need any indicator for it nor you need any institute like OANDA to provide you correlation data.
Do it as the video says. It just takes first10 min max of your trading day to find the correlation. But the result will improve your probability of success a lot.
Inserted Video


Let me know your doubts.
  • #3
  • Oct 9, 2018 8:44am Oct 9, 2018 8:44am
Quoting FxDeb
The very first decision, which determine our probability of success in trading. Most trader trade currency pairs randomly without even understanding, all the pairs are not tradeable every moment. As a result, the trade they take sometime just move sideways and sometime kills them too. To find the pairs which are good for trading , we should always check the strength of individual currency which makes the half of the pair. There is no indicator that is available to find our currency strength accurately, but we don't need any indicator. We can do...
OANDA is very helpful since i made a lot of mistakes on using it, i only play on eurusd to maximize win potential will use later after solid enough to read the edge
  • #4
  • Oct 9, 2018 10:07pm Oct 9, 2018 10:07pm

Lesson 2: Going With The Force


Once you are comfortable with the first lesson of finding the right pair to trade, now you need to find the right direction in a pair.
So the best way is to live by the force and .... die by the force !!!
Well its not jedi trick, but a concept which allows you to know the higher probability of market direction, as a result you will have high probability of profit.
Here the Force is not within, its refer to the person with more money who is trading above your time frame. And as the general rule of trading says person will more money has more influence on market, you need to trade with that person, not against it.
Its very simple, the person capable of moving the market resulting in making or breaking ew highs or lows is your Jedi Master. Never betray that person.
If the person breaks the low in higher time-frame, go with only sell in your current time frame. And vice versa.

The below video will explain in details with example. Hope you will get some understanding out of it.

Inserted Video


Let me know if it resonate with you. And wait for the next step.
  • #5
  • Oct 9, 2018 10:39pm Oct 9, 2018 10:39pm
Quoting FxDeb
OVERVIEW As the name of the thread suggest, in this thread we will discuss about what separates a TRADER from a INVESTOR and most importantly what it takes to leave the 95% Trader group. Rules to be a trader: 1. A trader never stay for months in a trade, they get in, take profit and exit. 2. A trader never pray to God for the price to move in their favor. Before entering they already know the general price direction and accept loss if required. 3. A trader always have a fixed ENTRY and EXIT conditions. we never get greedy or fearful and hold on...
Everytime when I see a new member coming back and start to preach his/her views I am always curious amuse and watching.
What's up dude? Hehe
  • #6
  • Oct 9, 2018 10:54pm Oct 9, 2018 10:54pm
Quoting genghistar
{quote} Everytime when I see a new member coming back and start to preach his/her views I am always curious amuse and watching. What's up dude? Hehe
Account is only new. Not new to trading
Its better to do something then to get bored... and Its a free place to share content. So let me see if i can help others..
  • #7
  • Oct 9, 2018 11:01pm Oct 9, 2018 11:01pm
Quoting FxDeb
{quote} Account is only new. Not new to trading Its a free place to share content. So let me see if i can help others..
That is for sure so what's your last nick and why the new fem nick bruder?
Anyway too kind of you for helping and I support your 'help' fooly.

Cheers
  • #8
  • Oct 9, 2018 11:18pm Oct 9, 2018 11:18pm
Hi Deb, thanks a lot for sharing. Follow...

Cheers,
Steve
  • #9
  • Oct 10, 2018 12:16am Oct 10, 2018 12:16am
woookaaayyyy
we don't predict, we only ride
  • #10
  • Oct 11, 2018 8:54am Oct 11, 2018 8:54am

Lesson 3: Incorporating Strength to your Arsenal

Once you are good with first two lessons which teaches to find good pair and direction, now you need to look at the price chart to determine the strength of your buyer or seller to know at which moment you can enter into the trade.
Strength is very important, it tells that how powerful is one side of the pair compared to its partner. So a strong move maker has the high probability to mve the market.

You can apply the concept with your trading method too. In fact in this third lesson i have used the most simplest trading method one learn at our starting career and still can use this strength concept to make profit with that simplest method.

SO watch the video which explain it with details and let me know your doubts:

Inserted Video
  • #11
  • Oct 24, 2018 8:50pm Oct 24, 2018 8:50pm

Can a trader Grow without making big mistakes ?


Well, the answer is absolutely yes. You can avoid making major mistakes, i you take time to absorb the trading knowledge slowly. In other word,don't be in a hurry. Just analyses how you react to your day to day life situation, and understand which part of your emotion is making the current decision, If you can do this, you will be able to avoid major mistakes. Just try to first bring your GREED and FEAR into control. Greed of making more, Greed of overnight success, Fear of missing big trade, Fear of getting humiliated by friends and families are few example which you can work over and try to control them.

Well unfortunately, I failed in those things in beginning and blew a lot. You can look at my mistakes in this video i shared. This will at least help you to avoid doing the same mistake I did and got heavily damaged.

Inserted Video
  • #12
  • Oct 25, 2018 12:19am Oct 25, 2018 12:19am
Drips and drabs slowly come the trap but I am willing to be helped.
Pls be warned that I can only learn by looking at your live trades call... so are you willing you help me?
I have been refused help by all gurus so far let's hope you are a guru with a golden heart like you said.
Hehe..
  • #13
  • Oct 25, 2018 1:11am Oct 25, 2018 1:11am
Quoting genghistar
Drips and drabs slowly come the trap but I am willing to be helped. Pls be warned that I can only learn by looking at your live trades call... so are you willing you help me? I have been refused help by all gurus so far let's hope you are a guru with a golden heart like you said. Hehe..
I am no GURU bro. Just a regular trader.

And a trader can never transfer their knowledge even if they want to. I can only show the way, walking falling learning and again walking is your task.
My live trades will never teach you how difficult it is to think for yourself. If i will post each live trade you will fell like trading is too easy and get burned. Still i am thinking about making a live trade series where i will trade with a very small live account and convert it into a very large one in real time. All trades will be taken live. So you may hear from me when i start that.

But now learn from my and your faults. Faults are our greatest teacher. Successful trade will not teach anything. And finally develop your own style.
I can guarantee one thing, unless you have your personal trading style, you are not successful.
  • #14
  • Oct 25, 2018 1:53am Oct 25, 2018 1:53am
Woh you are apparently not only a trader but a life guru too and you wrote in your first page you can help with trading issue by your long post on how to grow as a trader and now you are saying you want me to fail first then learn. If I want to fail I can learn from myself and definitely not from you or any failed traders. How can you help others when you have failed?? I can help everyone to fail that's easy as eating.
Long story short do you have anything useful for sales and maybe you can let me know. But don't ask me to fail with you to learn becos that I don't need you.... Hahaha
BTW you also have a thread in the commercial section so why and how are you here?
  • #15
  • Oct 25, 2018 7:28am Oct 25, 2018 7:28am
Nothing fundamentally wrong with your theories.

Your ideas
Take profit, take loss.
Know your entries and exits
Learning from mistakes.

But...

Everyone in the Trading Discussion sub forum knows all of those.
Those theories are for novices of trading.

----

Your following posts seem to suggest you are teaching traders how to trade, or teaching a general trading method.

What is the discussion that you are trying to start?
'For the market to work, it needs people who think that they can beat it.'
  • #16
  • Last Post: Oct 25, 2018 8:36am Oct 25, 2018 8:36am
Quoting AlastorFate
Nothing fundamentally wrong with your theories. Your ideas Take profit, take loss. Know your entries and exits Learning from mistakes. But... Everyone in the Trading Discussion sub forum knows all of those. Those theories are for novices of trading. ---- Your following posts seem to suggest you are teaching traders how to trade, or teaching a general trading method. What is the discussion that you are trying to start?
General trading discussions for entry level traders bro.
Profitable trader don't need it.
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