Trading is simple but not easy

Why you lose money and will always lose 42 replies
reasons why traders lose 425 replies
Did we Lose any Brokers? Are we going to Lose a few? 1 reply
The one reason that trumps all other reasons why traders lose 262 replies
Real Reasons why Retail Traders lose money 75 replies
DislikedGood thread lads! some of the reasonings are very true I think I have little discovery made on this point take a look if interested http://www.forexfactory.com/showthre...14#post7088414Ignored
Disliked{quote} So you're saying traders need some sort of structured approach instead of lots of discretion or no plan at all. It's a good post but the idea of fixed profit/exit would never come from a trader who had made lots of money trading. He would trust himself to milk the best trades for all they're worth, he wouldn't mind if the odd 3/1 winner came back to break even, because he would of experienced massive gains from holding his trades that developed into a longer term trend. Structured stop loss is different, failed entries should make no bearing...Ignored
Disliked{quote} Hi 60minuteman thanks for the reply, i have to say i did not made lots of money yet . but trying out different approaches to trading for a long term run I have found that discretionary trading was a constant loss to me, when i picked out 1 thing out of the whole market and said to myself - I have to make u work!!! I tell u more this is only eurusd pair and this is only sell trades, ( well, this is my stuff and strategy, please don't ask me more) and I put it into strict frames (the set up itself and the conditions and the trade limits) look...Ignored
Disliked{quote} Hi Money... I agree 100% with you, setting a strict structured approach will be a massive step for most traders.... and I know that 70% 1/1 is massively appealing, and maintainable for periods of time (just search this forum for 1/1 and see how often it's mentioned!!!) But..... you will make money slower than the burger tossers at Maccy D's.... If you really want to grow your profits exponentially then you have to look to the bigger wins. This post from No Brainers is food for thought http://www.nobrainertrades.com/2010/...placement.html...Ignored
Disliked{quote} Hi againthanks for suggestion, but I tell u exponential growth of the curve is not a problem at all with this approach , if u place 10% of your balance per your 7 out of 10 trade, and after u collect 10 wins you have doubled your balance. then take a systematic way up approach to it as well, on the next step u put 10 % of your new ballance per your 7 out of 10 trade collect 10 wins and you doubled your balance again, and so on... as u know if u double 1000eur 10 times u'll get a million- dream of every new trader.this can be done and...
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Disliked{quote} I'm going to presume you know how likely it is you blow your account up trading that way? http://2ndskiesforex.com/strategies-...u-should-know/Ignored
Disliked1. High win rate 2. Close too early... (2 THREADS ON FF FOR POSITION TRADING? SAYS IT ALL) 3. Require profits every day 4. Obsess about entries and exits 5. Think you can gain an edge with a strategy instead of a mindsetIgnored
Disliked{quote} Good links, many thanks for sharing. But IMO trading is much more about strategy than mindset. Self-belief and discipline count for nothing if your entries and exits are merely random guesses. You can take mindset out of the equation by simply running an EA, so why isn't every EA profitable? Because it's underlying strategy lacks an edge.Ignored
Disliked{quote} Most EA's are unprofitable because of the mindset of the person programming it i'm afraid hanover. ........Ignored
My view was shaped by Elder's Trading for a Living (he describes what he calls the "3 Ms": method, money, mindset).
But at the end of the day it's all just semantics and terminology.
Disliked{quote} Ah, I see where the confusion lies. What you call "mindset" (e.g. how long you hold trades for; what rules are programmed into the EA; etc) I would describe as integral parts of the strategy itself. For me: strategy (or 'method') = the rationale and rules behind both the entries and exits; MM = how much of the account is placed at risk on each trade, i.e. position sizing; mindset = the patience, discipline, nerve, self-confidence etc needed to consistently execute the strategy.My view was shaped by Elder's [url=http://www.amazon.com/Trading-Living-Psychology-Tactics-Management/dp/0471592242]Trading...Ignored
Disliked5. Think you can gain an edge with a strategy instead of a mindsetIgnored
DislikedImho. {quote} 1. High or low win rate is not important - if you have a low win rate and your making money, great! if you have a high win rate and your making money also great! There is no wrong or right in win rates - right is if your profitable and making money, and its possible to do this with both high and low win rates.Ignored
Disliked{quote} the question was... why do most traders lose... Im not saying one is right or wrong, im saying most lose because they want to achieve high win rates, often sacrificing decent wins to maintain that. {quote} 2. No and Yes, sometimes closing early "because facts change" is correct and should be done - being stubborn costs money, but you have to find a balance, there are trades which are worth to hold on to, and thats when its wrong to close early and in this case - closing early will cost you money in the long run.Ignored
Disliked{quote} yes maybe mindset is not the right way to describe it. For really large gains, the most reliable approach is to build a position in the market and remain for as long as possible. .......Ignored