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What Would You Do Differently Today for Better Trading Results?

  • #581
  • Jan 22, 2018 8:29am Jan 22, 2018 8:29am
Very good that you are aware of what is going on in the market you are trading. Currently, and for much of this week, the technicals position GBP stronger than EUR, with USD weakest among the majors.

Trade safe and prosper.

KP

Quoting corrman
I'd rather trade EU/US but this morning it was in the middle of a range, yes it was trending, but GB/US was at the edge of a range both with my own long bias, so even with a wider spread I traded GB/US (since I am more skilled at trading support and shake outs) and gained. Both moved, however so that will make me consider what I will need to know to expand my ability.
Do your homework, follow the footprints of smart money
  • #582
  • Jan 22, 2018 9:18am Jan 22, 2018 9:18am
Quoting KeenPips
Trading better today, and every day, is key to consistent trading success. What did you learn last week that could enhance your trading this week? For me, one thing I learnt last week is to maser a few pairs and trade less of them. KP
Learning is an endless process; I always do weekly analysis based on my previous trade positions; it helps me a lot! I use a notebook to point out my trading mistakes!
  • #583
  • Jan 29, 2018 6:51am Jan 29, 2018 6:51am
Just a Thought

It is important to have a brief trading plan for each pair/asset you want to trade; and then stick with it. Mine is often not more than three sentences per identified pair.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #584
  • Jan 29, 2018 7:02am Jan 29, 2018 7:02am
Do you want to share your trading experience or knowledge based on what you have learned recently? Share it here!

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #585
  • Jan 30, 2018 4:13am Jan 30, 2018 4:13am
The ability to properly identify and map quality turning zones should be cultivated beyond using indicators for trading. Do you agree with this?

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #586
  • Jan 30, 2018 4:19am Jan 30, 2018 4:19am
Personally I don't believe this: for me indicators are my everything (despite what a lot of people say). However they should be used carefully with a bigger view in mind. Focusing on bigger timeframes is what I am all about: in a multitimeframe context. This is basically what I have learned.
  • #587
  • Jan 30, 2018 4:38am Jan 30, 2018 4:38am
Your opinion respected bro. But what do you look for in that 'bigger view?' What also is 'a multi-time frame context?' Just indicators and just any area? Is just any area tradable with the same degree of success?

Trade safe and prosper.

KP

Quoting cvds16
Personally I don't believe this: for me indicators are my everything (despite what a lot of people say). However they should be used carefully with a bigger view in mind. Focusing on bigger timeframes is what I am all about: in a multitimeframe context. This is basically what I have learned.
Do your homework, follow the footprints of smart money
  • #588
  • Feb 14, 2018 6:06am Feb 14, 2018 6:06am
I have learnt that scenario trading is key to long-term trading success. You anticipate alternative market scenarios and look for a feasible trade setup as the market meets one of the scenarios. What about you? What have you learnt recently that you would like to share with other fellow traders?

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #589
  • Feb 24, 2018 3:32pm Feb 24, 2018 3:32pm
How do you select the pairs you trade? Do you have a system you adopt or do you just react to the markets?

KP
Do your homework, follow the footprints of smart money
  • #590
  • Feb 24, 2018 4:28pm Feb 24, 2018 4:28pm
One of the things I do on the weekend is to do a thorough screening of the pairs on my watch list and then analyze them for probable quality trading during the ensuing week. I have found this to be helpful for my trading style as a short-term swing trader. Currently I have 10 pairs and GOLD (in USD) on my watch list. Based on the screening I have just completed, I will be tracking USDJPY, EURJPY and GBPAUD for trading opportunities next week.

KP


Quoting KeenPips
How do you select the pairs you trade? Do you have a system you adopt or do you just react to the markets? KP
Do your homework, follow the footprints of smart money
  • #591
  • Feb 25, 2018 7:51am Feb 25, 2018 7:51am
Quoting KeenPips
How do you select the pairs you trade? Do you have a system you adopt or do you just react to the markets? KP
I'm an intraday trader and focuses on GBP/USD mainly (lowest spread) although I also have GPP/JPY, USD/JPY, EUR/USD and GBP/AUD on my watch list. I wait for trend continuations after retracements to mean (EMA), reversal of trends or in ranges, and breakouts of ranges, wedges, triangles, channels, etc
Never Ever Give Up
  • #592
  • Mar 20, 2018 12:26pm Mar 20, 2018 12:26pm
Does it really matter which trading system you use as long as you are profitable and a master of your system? I keep wondering about this as I see traders hop from system to system.

KP
Do your homework, follow the footprints of smart money
  • #593
  • Mar 20, 2018 12:45pm Mar 20, 2018 12:45pm
It really doesn't matter imho. But how would you explain systems hopping?

KP

Quoting KeenPips
Does it really matter which trading system you use as long as you are profitable and a master of your system? I keep wondering about this as I see traders hop from system to system. KP
Do your homework, follow the footprints of smart money
  • #594
  • Mar 20, 2018 1:39pm Mar 20, 2018 1:39pm
Quoting KeenPips
... worse, demonizing other fellow traders for taking positions contrary to theirs."
This seems sadly all too common of an occurrence here. In fact I was just a lurker and didn't even bother getting an account for this very reason.

I come from the world of professional gambling where I've done quite well. I learned probably 7 years ago now that many of the same strategies that made me a successful gambler (namely always thinking about how to limit losses) translated amazingly well to trading financial instruments.

And in trading I don't have to worry that a casino is going to realize that I'm a pro and kick me out. I get to make as much as I want.

I've been trading professionally for the last 6ish years and making much more at the same time I work FAR less.

That said, it's still EXTREMELY important in the world of forex to always be learning. Never think you know everything ... or heck, never think you even know enough.

There's always more to learn, more to know, more to get better at.

As an example two years ago I began learning the use of options for forex trading to give me MANY more strategies for trading than simply the two of opening a position long or short. This has nearly doubled my trading profits. However it seems many here just don't want to "bother" with learning the use of options.

At this point my focus is on learning more about the "guts" of how the various indicators work, the math/algorithms behind them. I am in particular fascinated with Fibonacci and really knowing how to PROPERLY use it.

Learn something new not just every week ... but EVERY DAY.

Thanks for a great thread!
Woohiye is a Lakota Sioux word that means success, or overcoming obstacles
  • #595
  • Mar 20, 2018 3:51pm Mar 20, 2018 3:51pm
Thanks mate for the contribution. Every trading day is a challenge and to do well you need to be at your best and keep improving your techniques and skills.

Trade safe and prosper.

KP

Quoting Woohiye
{quote} ... it's still EXTREMELY important in the world of forex to always be learning. Never think you know everything ... or heck, never think you even know enough. There's always more to learn, more to know, more to get better at... Thanks for a great thread!
Do your homework, follow the footprints of smart money
  • #596
  • Mar 22, 2018 11:33am Mar 22, 2018 11:33am
I strongly believe that the major reason is the fear of losing money. Nobody wants to lose money and this is behind the unending search for the 'Holy Grail.'

Trade safe and prosper.

KP

Quoting KeenPips
....how would you explain systems hopping? KP {quote}
Do your homework, follow the footprints of smart money
  • #597
  • Mar 22, 2018 11:50am Mar 22, 2018 11:50am
Quoting KeenPips
I strongly believe that the major reason is the fear of losing money. Nobody wants to lose money and this is behind the unending search for the 'Holy Grail.' Trade safe and prosper. KP
Actually I think the search is about finding the get-rich-quick key that far too many still think forex can provide.
Woohiye is a Lakota Sioux word that means success, or overcoming obstacles
  • #598
  • Mar 22, 2018 12:31pm Mar 22, 2018 12:31pm
In the process of improving as traders, we may have to avoid system hopping. But there is a place for system tweaking. What do you think?

KP
Do your homework, follow the footprints of smart money
  • #599
  • Mar 25, 2018 5:06pm Mar 25, 2018 5:06pm
If you are looking to have a profitable edge in the market, what should it be? Personally, I don't look for an edge in any trading system but how I use the system. The edge is really about your person and the discretionary steps you take as a trader. What do you think?

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #600
  • Mar 26, 2018 4:30pm Mar 26, 2018 4:30pm
A strategic trading edge helps differentiate you in the market and gives you an advantage to be successful on a consistent basis. Not many traders have, or have been able to develop, a trading edge.

Trade safe and prosper.

KP

Quoting KeenPips
If you are looking to have a profitable edge in the market, what should it be? Personally, I don't look for an edge in any trading system but how I use the system. The edge is really about your person and the discretionary steps you take as a trader. What do you think? Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
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