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The Big secret to trading success

  • #821
  • Jul 4, 2017 2:15am Jul 4, 2017 2:15am
Quoting Ganative
The big "secret" varies among traders. For me, it was discipline and patience. Learning to sit on your hands when you are trigger happy is extremely difficult. Overtrading is a large factor as to why traders fail. Also, risk management and position sizing is important as hell. Ever wonder why you panic and can't sleep because of a certain trade? This means you are risking way too much on a single trade, learn how to appropriately position your trades and you will succeed. Over-leveraging your account will wipe out your balance in a heartbeat. You...
I cannot agree more with you. I would only add as many of you said, follow the trend and keep it simple... That is my go to plan at all times
  • #822
  • Jul 5, 2017 2:31pm Jul 5, 2017 2:31pm
Here it is!!!

if you can't backtest your strategy over a 10 years period at least... do something else. I mean if you want to survive in the long run-- be conservative with your entries and exits. regardless of your risk profile.

IMO conservative entries and exits are the most important thing.
  • #823
  • Jul 5, 2017 3:32pm Jul 5, 2017 3:32pm
Quoting HeyYou
Here it is!!! if you can't backtest your strategy over a 10 years period at least... do something else. I mean if you want to survive in the long run-- be conservative with your entries and exits. regardless of your risk profile. IMO conservative entries and exits are the most important thing.
I want to add to my statement it's not about "discipline"... it's about having FAITH that your strategy will work in the future lol. personally I find it very difficult but if we forget all the pointless negativity, and we invest money that we can afford to lose... where's the problem ?
  • #824
  • Dec 26, 2018 2:20pm Dec 26, 2018 2:20pm
Quoting andoseg2
{quote} There is no need to beat the market. Those who trade against the trend try to beat the market. They are the prey in the market. . Lady Market is a smart woman and if you know how to respect her, then you will have a nice blow**ob from . People should focus on high win rate trades not on risk:reward . With high win rate trades you can scalp and you can follow the trend aiming for bigger reward. But there is a missunderstanding regarding the risk:reward. To work, the risk:reward strategy should have at least 50% win rate , considering at least...
Totally Agree on this!
We're not here to be right, we're here to Profit Consistently!
  • #825
  • Dec 28, 2018 7:19am Dec 28, 2018 7:19am
Quoting HeyYou
Here it is!!! if you can't backtest your strategy over a 10 years period at least... do something else. I mean if you want to survive in the long run-- be conservative with your entries and exits. regardless of your risk profile. IMO conservative entries and exits are the most important thing.
Mate, I understand what you did you mean actually & the actual benefit! Much useful system to follow.
  • #826
  • Edited 11:56am Dec 28, 2018 11:15am | Edited 11:56am
What's important for me is to have faith in your strategy and not panic if the trade goes against you soon after you enter. The worst thing that can happen (psycho-emotionally) is cutting your losses too early, only to see the trade ultimately go your way later on. You don't want to be kicking yourself in the head in regret. :-)
  • #827
  • Jan 11, 2019 9:24am Jan 11, 2019 9:24am
I read many books about trading and stock markets but i still don't have the right psychology and the best descipline :'( .
  • #828
  • Jan 11, 2019 2:38pm Jan 11, 2019 2:38pm
Hi,
I will share my experience, I have been investing for over 12 years.
I gained and lost for about 10 years, but in general, counting every year, I ended up with a lot of loss.
I have read many books, tested various strategies, systems and losses. I have been learning and zero effects all the time.
Now I know that the most important thing in achieving profits is capital management. Of course, strategy and psychology is important but the consequence of action and capital management are the most important.
  • #829
  • Jan 11, 2019 5:15pm Jan 11, 2019 5:15pm
Referring to the two previous posts in particular, I will just say that it is neither one thing nor the other that will bring ultimate success as a trader, it is a whole set of often conflicting skills that have to somehow harmonize together - to be highly disciplined and rule driven on the one hand, and yet flexible and adaptable on the other. It requires cognitive skills and psychological tenacity that go way beyond the requirements of most professions I can think of, and it all has to be applied with great consistency day after day in the face of immense adversity, because if we do it wrong, are not prepared, have the wrong mindset or have not obtained the requisite set of skills through many thousands of hours of trial and error, the markets will punish us over and over again.

Is it any wonder so few succeed? To me it is not.
  • #830
  • Jan 12, 2019 4:36am Jan 12, 2019 4:36am
I totally agree with you, there are many factors that affect the quality of trade.
However, most investors are terrified that you need a whole set of skills to be successful. In the end, if there is a lot, there is nothing. Ultimately, such an investor does not use any of these skills.
I think that a good investor's attitude must be built slowly.
If I could go back in time, I would start with capital management.
  • #831
  • Jan 12, 2019 4:38am Jan 12, 2019 4:38am
I will share my experience, I have been investing for over 12 years.
I gained and lost for about 10 years, but in general, counting every year, I ended up with a lot of loss.
I have read many books, tested various strategies, systems and losses. I have been learning and zero effects all the time.
Now I know that the most important thing in achieving profits is capital management. Of course, strategy and psychology is important but the consequence of action and capital management are the most important.

For example, I made such an experiment: I counted all my transactions (over 7,000 transactions for 10 years) where I played different systems and most of them without systems and guess what?
During this period, of course, I lost a lot of money ... but if I played the same stake, I would be well earned.
So in the long run the number of pips was a big plus but because I raised the rate as much as I could lose .

Conclusion: it was enough to play with the same stake
  • #832
  • Last Post: Mar 19, 2021 1:52am Mar 19, 2021 1:52am
FUKIN hell, all searching for the hoy grai, if u cant take a hit u'll diel
Steps to profitability: Collect data, money management, stay bored
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