Trading Made Profitable (TMP)

+60 pips running

which indicator are you using on that chart HASIB?

an effective trader must account for three main areas of
concern, namely:

1. Trade management: This involves the management of positions, which includes the timing of entries, profit targeting, stoploss placement, stopsizing, rolling of stops, scaling in and out of positions, reinvesting profits, and compounding profits

2. Trader management: This involves the effectiveness of a trader in initiating, managing, and controlling the risk associated with open positions. The trader must be able to execute the trading plan effectively and efficiently, which may be adversely affected by various biases, expectations, emotions, confusion, and peer pressure.

3. Money management: This involves the effective apportioning or sizing of risk and equity with respect to a trading system. It involves capital sizing, percentage risk sizing, stop sizing, trade sizing (size of the position), reward sizing (amount of take profit), and reward to risk ratio sizing (which determines the minimum average winning percentage of the system).

I've seen this method somewhere in the other forum.
I believe it will work for some certain time but it will fails when the GAP are wide.

I've look at the plan you describe, it was almost perfect, but you have to look into
your plan during news time when the trading volume is high.
Normally plans failed there.

Regards

There is always some new trader don't want to accept old method. They have big dream and they work hard to learn the market. after learning few things they feel like they become king they invest real money and lose. new traders don't give advice because whatever you tell me I probably go through that stage.
I open this thread Not for selling anything. Not for agree with me. if you like you can read this thread if not no problem at all. Some time I right so that I can relearn the basic of trading.

you could learn lots of thing form internet but Integrating everything takes time. Don't feel bad.

regards

One Advise Analysis your trade and your behavior

usdjpy trade 44 pips running

Learning theories
There are two approaches to learning theory. First, the behaviourist approach. In this approach we are assumed to learn essentially through reward and punishment. Its based on stimulus. So if we do something right and we get rewarded, we are likely to do that again. If we do something else and in some way get punished, we are likely to try to avoid that. And so as time passes and we learn, and we will tend to do more of the right things. This doesnt mean of course that we understand what we are doing. Only that we respond appropriately in certain circumstances. The cognitive approach tries to look rather more at the mental process we might go through to gain understanding. It argues that the mind takes sensory information and tries to impose some sort of logic on that, some sort of rational approach. Very much more in this approach we understand or attempt to understand whats happening and why we are doing it. Probably the cognitive approach will ultimately be more fexible. If we are presented with a new situation, we might be able to think our way through it. But if we have learnt simply on the behaviourist approach and we dont know why we are doing something, then a new situation is likely to confuse us.

Honey and Mumfords learning styles

Honey and Mumford categorised diferent learning styles as theorists, refectors, activists, and pragmatists. ๏ A theorist likes to understand the theory before moving on to practice or practical application.

1. The theorist is likely to read an instruction book frst before trying to work the new computer.
2. Refectors observe whats going on and carefully consider it. They like to work at their own pace and tend to be a relatively non-participative and cautious learner.
3. Activists are almost the reverse of theorists. If they had a new computer they would switch it on and try and work it before ever thinking of looking at the user guide. They are excited by pressure, by new projects. However they do tend to rush into things without adequate preparation.
4. Pragmatists are inspired to learn if they see a practical outcome: they will learn something if they see it will help them make their job better or easier. They wouldnt at all be interested in learning for learnings sake and they probably would fnd it quite difcult if a theoretical approach was taken to instructing them. Whats the point of these four categories? Well, if you were trying to train a group of 20 people, remember, they wont all learn in the same way. Some will be theorists, some will be pragmatists.

You can read it. hope it will help you.

Read here

Don't forget your discipline. Learning the basics is easy. Most traders fail due to a lack of discipline, not a lack of knowledge.

This year usdcad move excellently. I just open a trade in h4 chart. now it is in profit.

Trading versus Technical Analysis
There’s a major problem with technical analysis in our modern markets. As it turns out, interpreting price charts is a relatively easy skill set to learn, while applying a cohesive strategy that makes money is infinitely more difficult. Many traders gravitate toward chart reading at the expense of everything else, because they’re too lazy to study the market’s numerous quirks and nuances. After all, it takes less effort to draw a few lines marking out support or resistance than to understand the multitude of forces that really move the financial markets. In truth, no one is printing money these days, and you’ll need to do more than read the pretty patterns in order to book a year’s worth of profits. Of course, everyone is an armchair technician because it takes little work or commitment, but putting your money on the line every day is another story. Real-life trading requires a detailed plan of execution, a strong stomach, and a ton of patience. And it’s much harder to do than impressing your online buddies with a sea of trendlines, flags, or double bottom patterns. Admittedly, I look at a ton of charts each day, but my primary objective is to find intersections of price and time where other technicians are likely to get trapped, become irrational, or trip over their own belief systems. In this way I can use their overreliance on chart reading to my personal advantage. It’s just one of the many strategies that takes popular technical analysis and turns it, diabolically, against its most ardent disciples. Do you flip through the charts in a role-playing exercise, trying to visualize all the rallies or selloffs where you would have been right if only you’d taken action? If so, you might be reinforcing a fantasy mindset that won’t help your bottom line because, in essence, you’re engaged in unconscious risk-avoidance. Of course, there’s nothing wrong with using the charts to filter out noise and to make better trading decisions. In fact, it’s a required practice on the road to profitability. But be warned: price patterns hide so many perception traps that misinformation often defines reality. Now take this little quiz. Your honest answers to these three questions should tell you whether you’re a trader or just a closet technician: • Can you translate what you see on the chart into a plan that works for that market, that time frame, and your pocketbook? • Do you see all the traps and whipsaws that might tear through your stops before price finally moves on to your objective?
- How will you deal with the panic attack when the market moves against you because program algorithms are controlling the data flow? Market whales can paint the tape however they choose, but their absolute power isn’t the only problem with classic technical analysis these days. As I noted earlier, so many weak players rely on chart reading that common technical perceptions no longer define a workable edge. In truth, the modern markets spin off a thousand shades of reality, and what you see depends on how you look. Ironically, long-term profitability demands an intimate knowledge of the numerous ways that charts and patterns generate false information. It also requires an adaptive trading strategy that avoids or mitigates the shakeouts, fakeouts, and downright lies that price charts radiate each day. Technical analysts get kudos for their market calls, but the practice is often self-serving and overrated. It also fosters a sports betting mentality that does little or nothing to generate consistent income. In addition, it’s a popular deception that gives the public someone to blame when things turn out poorly. As strange as it sounds, profitability has little to do with being right or wrong. Rather, long-term survival depends on a capability to manage risk and to accurately compute the odds in your favor in real time. It also requires peaceful coexistence with the technical confusion, divergence, and misdirection that pops up at every turn. In other words, you need to pay a lot more attention to the diabolical mind of the market than to all those fancy trendlines on your favorite chart