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Trading is 80% mental 20% mechanical

  • #21
  • May 1, 2018 12:36pm May 1, 2018 12:36pm
Yes. In my new work I See alot of newbie traders. They see ads in the net or tv and think they can make money fast

The strategys are mostly very much the same. Alot of indicators.

No one would start to be a lawyer without studing but trading is sooo easy lets start.

For newbies I would say the mental part is the biggest hurdle. Changing the system every time a new one pops infront their face or stuff like these.
Everyday better.
  • #22
  • May 1, 2018 1:11pm May 1, 2018 1:11pm
I dont know if trading is harder than any other business, but IMHO it is very hard

with a lot of dedication you may find a method that suits you,- and then you have to make literally every mistake in the book to get the mental skills to profit on a consistent basis ...

beginners cant even imagine the mental impact of all of this.

A losing or winning streak for example can be very harmful. Any kind of stress can easily lead to mistakes, which possibly leads to revenge trading =dead. Or trading a small account and the feeling " I am getting nowhere" can kill month of successful trading... the list goes on and on and on and on
  • #23
  • May 1, 2018 1:33pm May 1, 2018 1:33pm
Quoting arlucad
What my trading has changed the most is cutting time out of my charts. Price bars and 2 filter. Profitable for me. But probably not for someone else.
Funny thing is that if you show your method to someone completely noob and out of this world of trading they could follow it step by step and be profitable like you.. BUT a "regular trader" wont be profitable with it wich is a paradox because your system IS already proven profitable !!

And it happened to me actually, funny how that works haha =)

Quoting OMGtrader
{quote} I agree with this... They say... less intelligent people tend to do better as traders than very intelligent people. Why? Mainly because intelligent people tend to over think, that leads to price prediction rather than price reaction.
Over thinking leads you no where in trading, and people that doesnt overthink and repeat the same steps can actually make money (thats ONLY IF they are doing it right wich its not likely to happen in the first place)


Quoting cat
Briefly, so as to clarify my previous posts here. For me, my journey as a trader has been a long one, far longer than I would have ever imagined when I first looked at a financial chart over ten years ago. I have had to learn, and unlearn, an awful lot of stuff, and I am a very different person now to the one I was before, at least when I am sitting in front of my charts. For me, nothing was simple, everything had to be built, destroyed, and built again. It was a process, and it still is, but at least I have enough in my armoury...

Quoting cat
So when I see the word ' SIMPLE ' attached to trading, it kind of gets my rag, because for me it has been anything but, and I do not believe that I am so different to the majority of people out there.
IT IS like that.. and yes, the mayority of people dont even know what should be looking for in a trade.. even away from a pc screen; they think that overthinking/overcomplicating all the process will finally give sense to all the weird things your brain is fighting to understand..

they dont even know whats the point of a trade, what should be looking for and what is the real important aspects of it

Sorry you dont like that "word" but thats the truth no offense to you or anyone else, i hope you can understand my words
  • #24
  • May 1, 2018 1:55pm May 1, 2018 1:55pm
In my humble opinion

it is 100% mechanical: all we need is a plan that is designed to win.if you want to win, you'll stick to it.

Building a "perfect plan" requires a lot of thinking. Lots of clarity is needed, and to achieve this ability you need to practice* until you're sick of your biases lmao

I.e. sick of losing.

*with small accounts !

p.s. I'm not a good trader... still in the "thinking" phase.


But hey I'm enjoying this mess lol
  • #25
  • Edited 2:16pm May 1, 2018 1:56pm | Edited 2:16pm
I've come here due to advertising of ForexFactory on Facebook and since I Liked their page I am following them so I read the "Hot thread" they posted. And guess what, again, like other times, ForexFactory advertise trash threads.



Unliked&Unsubscribed from ForexFactory facebook page. Shame on you !
Money moves the market, not an indicator.
  • #26
  • May 1, 2018 2:06pm May 1, 2018 2:06pm
Quoting arlucad
{quote} What?
Well, since the lack of interest in that mime question, or people simply don't have a clue what that question is about, here is the answer..
The everlasting question on whether succesfully trading retail forex is either mental or mechanical is irrelevant, because 99.9% of retail systems are based on false input from the market. Therefore we can only come to the conclusion that regardless what system a retail trader tends to create, its mechanical component is already flawed to begin with. Now ironically enough, this mechanical issue can only exist because of our united and inherited mental issue, that each of us, including me has.

To understand this human flaw you need to ask yourself whether you are subject to mime; (i see interaction, there must be something!), and have a believe & ego defending system in place. Ofcourse you have all those! So in other words, its a 99.9% mechanical, as well as a 99.9% mental problem that we retail simply lose in this industry. You were missconditioned from the start, and being human did not help your case.

From this day on i am a professional trader with a topnotch secret trendline strategy. It is my job to gain followers, to then eventually give away my strategy. I would bet on it, that the day these followers will use these secret trendlines, they actually BELIEVE and SEE these lines work, to then add a couple of thousands to their trading accounts. Believe is a powerfull thing, a tool that protects our ego and therefore always gets the better of us, never underestimate it.
  • #27
  • May 1, 2018 2:20pm May 1, 2018 2:20pm
Robert I really dont had a clue what you mean but it actually makes alot of sense.

Believe is a very strong trigger in every field.

Do you know a confirmation Bias? Most people search for something and only see that their opinion is correct because they filter the rest. Like there is no mental part in trading when you can read the chart you will be profitable and then you be a trader.
Everyday better.
  • #28
  • May 1, 2018 8:38pm May 1, 2018 8:38pm
Quoting fxprimate
{quote} Can you show me how simple and easy it is. Thank you in advance.
He already shown you by saying that it's simple and easy. How difficult can that be. Ofc I m just saying....By D.Trump.

Hehe
  • #29
  • May 1, 2018 10:30pm May 1, 2018 10:30pm
Quoting fxprimate
{quote} Can you show me how simple and easy it is. Thank you in advance.
Of course !!

1.- Find the unbalance pattern in the only 2 valid places in the chart.. YES the "unbalance" pattern its exactly the same, with practically the same result everytime, if it wasnt then IS NOT a true "optimal" place to enter

2.- Enter a trade in the proper direction (doh) with the SL/TP of course; close the MT4 and move on with my life

3.- Do nothing IF nothing its on the chart

4.- Rinse and repeat every day in my trading sesion


Thats it... Simple and easy
  • #30
  • Last Post: May 2, 2018 12:23am May 2, 2018 12:23am
Quoting genghistar
{quote} He already shown you by saying that it's simple and easy. How difficult can that be. Ofc I m just saying....By D.Trump. Hehe
In hindsight it's better to say nothing and be thought a bloody fool than to speak and confirmed that fact. Worse if it is a freaking false guru with ulterior agenda.

Hehe.
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