The fate of a trader
Attached Image
Why your broker is your friend and your enemy 4 replies
Where did your trading method come from? 10 replies
What is your best trading streak and how did you do it? 2 replies
Change an EA and change your life 8 replies
Disliked
There are to types of trader, those who think of it as science, statistics and excel spreadsheets. And those who thinks its art and crafts. Im more the art type!Ignored
Disliked(Cool! New charts!)
Attachment
It's a rat race, and all people think of each other is where to draw the personal boundary lines: What to do, what others have done, and who to do over.
With this kind of pressure, I wish I'd considered when the chips may be down, since life's fortunes change like a chart.
Your story tells how people forget to embrace the moment with others close and instead race to the next step in their own life plan.Ignored
DislikedFX is just as my hobby. I couldn't manage to trade for living, not because it's not possible, but it would be to much of bore for me. I see FX as poker. Just to spend some time, win some money.
How trading changed my life? Well, i gain extra money, which allow me to do extra curricular activities.Ignored
Dislikedditto word for word for the most part.
Although the research into my style of trading is more philosophical than it is technical. I could make money on any system because it's about playing the 'hand' and not necessarily the system. I trade my style because it's damn effective and it's a practical application of my studies into what makes the universe tick.
It was until I started treating forex as a poker table that I became profitable. Setups and risk reward. check or bet. call, raise, or fold. simple.
As far as the trading effect on my...Ignored
DislikedQuite frankly a coin toss system will probably beat a lot of traders out there who are simply consistent losers. thats if you are placing equal tp and sl. The only thing that you should be down is the combined spread after a large number of trades. You only need to out perform a coin by a percent or so to make money although i was never that interested in statistics with trading. i prefer real time results.
There are to types of trader, those who think of it as science, statistics and excel spreadsheets. And those who thinks its art and crafts....Ignored
DislikedIt's also not all it's cracked up to be. No high priced hookers, no coke, no mary jane, no $10000 a night hotel rooms, no yacht, and no Ferrari.Ignored
DislikedHi,
I think the only reason of not breaking even in the long run is because of the Spread in our forex trading. Right?
Every trade you had to pay at least 1 or 2 pips per trade. Even in my demo account, when my trade was in profit, the price was also about 1 or 2 pips lower than the price presented on the screen. So, if you trade 1000 times based on the Coin strategy, and you get 500 win and 500 loss. And suppose you has a RR ratio at 1:1. For every lost trade, you lost X pips + spread. For every wining trade, you gain X pips - 2 Spread...Ignored
DislikedI believe that trading is both an art and science, but I'm more oriented to science. I believe in probability of a trade. It all depends on the trader to decide which way he wants to go. There maybe no right or wrong answer in trading, the trader must decide for himself which answers are right or wrong related to his trading personalities.Ignored
DislikedYes, we have to take in account spreads, absolutely right, but since we have spread not commissions we have some control over it, if you trade placing a 300 pips SL/TP spread will not affect too much (but it still affects), you'll need longer winning streek, but you can still get in positive territory.
Having a better RR from my studies doesn't help, if you place a 10 Tp and 100 Sl you still will get to BE, how? you'll have 90% win and 10% loss do the maths... BE!!
So how can we take advantage about this statistics? i think we have a good edge...Ignored
DislikedTrading successfully (for a living) is probably one of the toughest things you will ever accomplish (if you choose to). If you're not willing to put in the time and effort, then you're simply "wishing or hoping".
It's also not all it's cracked up to be. No high priced hookers, no coke, no mary jane, no $10000 a night hotel rooms, no yacht, and no Ferrari.
However, it will allow you a little more free time, allow you spend a little more time with your loved ones, allow you to be your own boss (when Mr. Market isn't kicking your ass), and...Ignored