The single most important factor is having control of your own life.
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
reasons why traders lose 425 replies
Real reason why 99% lose - daytrading 96 replies
The reason why 95% of new traders consistantly lose money 203 replies
Real Reasons why Retail Traders lose money 75 replies
5 Reasons Why Traders Lose 171 replies
DislikedSuccessful forex traders truly understand the importance of Central Banks and interest rates on a floating exchange, and position themselves for the long term.Ignored
DislikedOf course when saying the above i have some certain type of trading method in my mind for which it could suit there may other trading techniques for which the above measure may not be best or even harmful so each to his own here. .Ignored
Disliked{quote} yoeng, I recently had a woman I respect as the best Forex trader around, her husband(and trading partner for 20 yrs) said in a webinar that there is no way there is "free trade' in the Forex markets." He feels its a rigged game. And they give us the BS that because 3 trillion a day goes thru it, it has to be the most honest. Oh really? Well when 11 banks control 805 of the volume, they may not control every hour or even every day, but at the end of the week, and definitely at the end of every month, I think they know which currencies are...Ignored
Disliked{quote} can any one bring us this book http://www.amazon.com/Complete-Guide.../dp/B00DGA8LZCIgnored
Disliked{quote} Argh... You're missing several points here: 1) There's nothing better in testing strategy in real-money account compared to demo. If of course you wanna lose your $50 so much - real account is preferable. This may apply only if you have some psychological issues [if you feel the difference] - go fix them then... 2) Nope, 20 trades won't! As I said you may as well be losing for a couple of months but that doesn't mean you won't be able to master the strategy - you'll get more experienced in THIS method and eventually become profitable [if...Ignored
Disliked{quote} Seems you don't understand the concept of a proven edge. When a system has a rising equity curve and a positive win ratio then you back-test it to see the results for yourself it has an edge if your own back-testing pans out. After this you may forward test it with real money! There is a world of difference between Demo and Live, because trading with real money is counter-intuitive. You don't need months to master an objective rule based system or strategy, if the criteria are all clearly laid out and verifiable, executing the trades becomes...Ignored
DislikedSome say it is improper risk/reward ratio, not letting winners ride, over trading, starting with too small of an account, distractions, not having the right system, not doing enough homework, not keeping a journal, using scared money and all of them are correct. But none of them encompass the whole picture! I've heard every reason possible in my 17 years trading on the Internet. Not one person to my knowledge has ever mentioned the one thing all "Market Wizards" and Pros who are around year after year, the one thing they have and use that 99.7%...Ignored
Disliked{quote} For a starter you dont have to predict (though its not rocket science to know when volatility will be high and when it would be low). For a fail safe you just need to gauge the current volatility. Lets say you come into your office an you see eurusd is bound by a 20/30 pip range, that would be basic benchmark for finding the sweet spot between Not having a stop too small that it gets hit when your system/methods criteria is not yet met. Not having a stop too large that its outside the bounds of current volatility. Of course when saying the...Ignored
Disliked{quote} Ok, I already said what I wanted you're free to act as you wish...Ignored
Disliked{quote} Enough! I have seen so many stupid answers to this question that decided to jump in and let everybody know what that one thing is. Please note that I am not guessing, .................... I know it. Here is the answer: There is no fuckin' word in Oxford English Dictionery that has not been tried to develop a trading method. Find a word outside that and you got it.Ignored
Disliked{quote} and there it is, not only it could improve your trade but it could also be very profitable edge. Imagine taking trades in low volatility thus small stops and closing those trades in at times of higher volatility resulting higher RR obviously. For example weekly, Monday usually have tight ranges/low volatility. So trades taken on Monday will have a smaller SL in size then rest of the week and if your trade is in the right direction of where weeks price goes it would be in higher volatility most of the times so the tp's would be bigger in...Ignored
DislikedIf you are "consistently" profitable, you are a Trader. If you are not "consistently" profitable, you are just plain and simply inexperienced.Ignored
DislikedThe question "The one reason that trumps all other reasons why traders lose" doesn't make sense.Ignored