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Attachments: What Would You Do Differently Today for Better Trading Results?
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What Would You Do Differently Today for Better Trading Results?

  • #381
  • Quote
  • Dec 2, 2016 8:56am Dec 2, 2016 8:56am
Quoting Mu Umer
I started my trading career in August 2012 , what I know after 4 years of trading if I had known it , at that time ( August 2012 ) I would have done following things. 1--I would have worked only on weekly, daily, H4 charts only, any time frame below these TFs are just noise. 2-- I would have payed more attention to Elliot wave analysis, for the sake of Analysis it is the best method. 3-- I would have never risked real money without first having a sound verified system, a system without proper SL and crystal clear exits. 4-- I would have never listened...
We really do improve with experience. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #382
  • Quote
  • Dec 2, 2016 9:02am Dec 2, 2016 9:02am
Look for Trend as saying goes 'Trend is your best friend'. it can be a trend within the trend
Entry & Exit are the 2 actions that we will repeat do,
The question is how to minimize risk & maximum profit? Billion Question.
I guess FF here consists a lot of gem trading method.
Just pick up which suit to your current lifestyle.
Stick to it and importantly make is a routine work. Which I claimed as 'HABIT'
ONCE you become comfort to that method, you can drive your car while eating MD burger or put up cosmetic

Enjoy Your Trading FOREX Day!
Let Market Tell You
  • #383
  • Quote
  • Dec 2, 2016 9:13am Dec 2, 2016 9:13am
Quoting Monokl
...The question is how to minimize risk & maximum profit? Billion Question...
Well said. Letting your profits run and cutting your losses is not always an easy thing to do. We can make good progress in this by being more disciplined, less emotional, taking reasonable position sizes, and trading to our plans. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #384
  • Quote
  • Dec 4, 2016 4:53pm Dec 4, 2016 4:53pm
To have better trading results, it is good to be familiar with methods used by forex traders to predict the movements of currency pairs. Some traders focus on news, interest rates, and economic variables while others prefer to use charting tools and indicators to guide their trading decisions. But no matter your preferred trading method, you'll need to know how to read a forex chart, there's no escaping it.
  • #385
  • Quote
  • Dec 5, 2016 1:27pm Dec 5, 2016 1:27pm
One thing I would do differently is to learn from my past mistakes, and seek ways to improve. That means being open to suggestions and learning more!
  • #386
  • Quote
  • Dec 7, 2016 4:54am Dec 7, 2016 4:54am
Quoting RussellBrown
To have better trading results, it is good to be familiar with methods used by forex traders to predict the movements of currency pairs. Some traders focus on news, interest rates, and economic variables while others prefer to use charting tools and indicators to guide their trading decisions. But no matter your preferred trading method, you'll need to know how to read a forex chart, there's no escaping it.
Hi, bro! This thread is about sharing what you have recently learnt that could make you a better trader or help produce consistently profitable trading results. Tell us how you have learnt to better read charts or the market rather than making general statements. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #387
  • Quote
  • Dec 7, 2016 4:55am Dec 7, 2016 4:55am
Quoting Maritov
One thing I would do differently is to learn from my past mistakes, and seek ways to improve. That means being open to suggestions and learning more!
Good point, m8! Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #388
  • Quote
  • Dec 8, 2016 9:06am Dec 8, 2016 9:06am
Could be good learn Mathematics. I think I will investigate the movements of the market. One of the substantive things is the market Speed. The market speed is based in Accumulation and distribution of volume.
  • #389
  • Quote
  • Dec 8, 2016 12:46pm Dec 8, 2016 12:46pm
Quoting whateveridon
Could be good learn Mathematics. I think I will investigate the movements of the market. One of the substantive things is the market Speed. The market speed is based in Accumulation and distribution of volume.
Gaining more understanding on price momentum and market modes can be a profitable education.

KP
Do your homework, follow the footprints of smart money
  • #390
  • Quote
  • Dec 8, 2016 1:06pm Dec 8, 2016 1:06pm
since i watch paul tudor jones quote on youtube
Inserted Video


it helps remind me to not to overtrade and never play macho man with the market (uptrend only buy, downtrend only sell).
since then every week at least i watch it once to remind my self,
as we know mostly trader problems actualy are pshycology not the traading system itself.
  • #391
  • Quote
  • Dec 8, 2016 1:31pm Dec 8, 2016 1:31pm
Quoting JuraganCuan
since i watch paul tudor jones quote on youtube https://www.youtube.com/watch?v=63UxdBG3huM it helps remind me to not to overtrade and never play macho man with the market (uptrend only buy, downtrend only sell). since then every week at least i watch it once to remind my self, as we know mostly trader problems actualy are pshycology not the traading system itself.
Thanks JC, I love your contribution here.

KP
Do your homework, follow the footprints of smart money
  • #392
  • Quote
  • Dec 11, 2016 2:46pm Dec 11, 2016 2:46pm
What are you going to do differently trading-wise this week? Why or why not?

KP
Do your homework, follow the footprints of smart money
  • #393
  • Quote
  • Dec 11, 2016 3:41pm Dec 11, 2016 3:41pm
Quoting RussellBrown
To have better trading results, it is good to be familiar with methods used by forex traders to predict the movements of currency pairs. Some traders focus on news, interest rates, and economic variables while others prefer to use charting tools and indicators to guide their trading decisions. But no matter your preferred trading method, you'll need to know how to read a forex chart, there's no escaping it.
Hello RussellBrown and others on this thread. If you care to visit me on my thread perhaps I can be helpful on the topic of this thread. Have a great trading week.

http://www.forexfactory.com/showthread.php?t=620091
  • #394
  • Quote
  • Dec 11, 2016 3:51pm Dec 11, 2016 3:51pm
Quoting BenjaminIs
{quote} Hello RussellBrown and others on this thread. If you care to visit me on my thread perhaps I can be helpful on the topic of this thread. Have a great trading week. http://www.forexfactory.com/showthread.php?t=620091
Hi, Benjamin! If there's anything you've learnt recently about risk management or any aspect of Forex trading you want to share with other FF members you may share it here. Btw, what would you do diffferently trading-wise this week?

KP
Do your homework, follow the footprints of smart money
  • #395
  • Quote
  • Dec 11, 2016 3:56pm Dec 11, 2016 3:56pm
cutting your loses early gives you a chance to meet a better trade,a stoploss is like a bullet proof vest it increases your probability of survival.
100% KENYAN.
  • #396
  • Quote
  • Dec 11, 2016 4:00pm Dec 11, 2016 4:00pm
Quoting executivefx
cutting your loses early gives you a chance to meet a better trade,a stoploss is like a bullet proof vest it increases your probability of survival.
Good point, bro! Imho, survival is a priority strategy for long-term success in this business.

KP
Do your homework, follow the footprints of smart money
  • #397
  • Quote
  • Dec 11, 2016 5:01pm Dec 11, 2016 5:01pm
Quoting KeenPips
{quote} Hi, Benjamin! If there's anything you've learnt recently about risk management or any aspect of Forex trading you want to share with other FF members you may share it here. Btw, what would you do diffferently trading-wise this week? KP
Thanks brother KeenPips

I really enjoy sharing my experience and knowledge with fellow traders which of course includes any ladies out there.

The KEY for me is to develop a Trade Plan. I have 2 right now that is based on logic and my Money Flow Method.

As you asked about Risk Management that is the KEY !!! I teach people by having them use a $50,000 US Funds Demo Account with FXCM UK. That way you can learn without having any FEAR !!!

Now to my actual strategy. On a $50,000 US Dollars Demo Account , I NEVER USE more than 20% of my trading capital. I also NEVER risk more than 5% of my capital on any one Trade Plan.

I learned a most valuable lesson during the start of my Forex trading career during March 2006. I had a client that deposited a total of $25,000 US Dollars with Trade Freedom in Montreal. I was up $25,000 US dollars within 30 days or so and my new balance trading under a LPOA (Limited Power of Attorney) was around $50,000 US dollars. I decided to go long One Million Dollars EUR/USD and to my horror one afternoon around Noon Time Alan Greenspan said something that caused EUR/USD to go down over 200 PIPS. I was SO SURE that it would REVERSE so I held it for another 30 days or so and I actually got out of my one position with a small profit. I was using the Saxo Platform at the time.

The GREAT LESSON was to in FUTURE SCALE in my positions up to my maximum Risk Management Strategy. I usually have a MAXIMUM LOSS of 100 PIPS so on one of my Trade Plans of short USD/JPY , I scale in my first position as I have done on my present demo account with FXCM UK posted on my thread. The second position is put on as it moves against me and it is usually my third position that turns out to be most profitable. If I have made a mistake on my Trade Plan then my MAXIMUM LOSS is 3 positions and the loss is $3000 US Dollars or 6% of my trading capital.

If you have any questions at all please post them and if you would like to open a demo account with FXCM UK and mail me your User Name and password then over the next 30 days I can see how you are doing. I also need to show you or anyone what symbols are needed. I use 16 different ones for my Money Flow Method. They are EUR/USD EUR/JPY USD/JPY GPD/USD USD/CNH US Dollar USD/CHF EUR/CHF AUD/USD USD/CAD XAU/USD XAG/USD US30 NAS100 SPX500 Copper UKOil and BUND.

You can clearly see how by watching these symbols I have a much better handle in live time on Money Flow. I also always have LIVE CNBC and use a service like Trade The News where I have LIVE VOICE commentary on the Forex and other markets which again give me an EDGE. I hope this information has been helpful to you and other Forex traders on Forex Factory.
  • #398
  • Quote
  • Dec 11, 2016 5:20pm Dec 11, 2016 5:20pm
Quoting BenjaminIs
{quote}...I really enjoy sharing my experience and knowledge with fellow traders which of course includes any ladies out there. The KEY for me is to develop a Trade Plan... I also NEVER risk more than 5% of my capital on any one Trade Plan. I learned a most valuable lesson during the start of my Forex trading career during March 2006. I had a client that deposited a total of $25,000 US Dollars with Trade Freedom in Montreal. I was up $25,000 US dollars within 30 days or so and my new balance trading under a LPOA (Limited Power of Attorney) was around...
Thank you Benjamin for your candid contribution.

Risking 2-5% of trading capital on any trade may be a rule of thumb but it really is a matter of what you are comfortable with. It's been a long while I last traded on Demo. And for me, I will advise that any trader should use a demo account with clear, specific objectives in mind and for a short period of time, say 6-12 months and then start with a micro live account once they have mastered a functional, efficient system and are developing clear set of strategies for different market conditions.

My edge in the market is based on a strategy that patiently tracks and traps the market as a short-term swing trader.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #399
  • Quote
  • Dec 11, 2016 5:31pm Dec 11, 2016 5:31pm
Quoting Fadhl
For your awareness, I already published this idea in an another thread "Really Useless Thread" (which I encourage you to visit because there is a Master person Mr Sisse who provides an amazing stuff). It's only my view, a view of a newbie with little experience. I learned that the market is so manipulated by big players and we, retailers, have to find our way to have a "nano" profit with them. For instance I think the current market context has one thyme: weakening/devaluating the US $ until Fall (US election).
Happy Holidays to everyone.

Respectfully Fadhl, I'm not sure what you mean about market manipulations by the big players? If you mean that the big players move the market I would agree with you. Large sell and buy orders move the market when there is an imbalance between the quantity of buy orders vs sell orders. My personal interpretation of this is that it is the way the market works. I don't believe that their is some nefarious underpinning as to how these levels occur or that there is a large player rubbing his or her hands together and laughing in a maniacal way as he or she places their orders. (sorry - just watched a movie where this happened. LOL). I've analyzed charts from two different brokers and the charts respond in the same way.

I guess what I would do differently for better trading results is to understand how price action actually moves between different price levels.

Enjoy the Holiday
  • #400
  • Quote
  • Dec 11, 2016 5:38pm Dec 11, 2016 5:38pm
Quoting Bren0001
{quote}... I guess what I would do differently for better trading results is to understand how price action actually moves between different price levels. Enjoy the Holiday
Rather forthright. Green pips to you.

KP
Do your homework, follow the footprints of smart money
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