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What Would You Do Differently Today for Better Trading Results?

  • #641
  • Jun 27, 2018 8:26am Jun 27, 2018 8:26am
Did you learn from your losses? What did you do to turn your trades around? That should be of interest to us on this thread.

Trade safe and prosper.

KP

Quoting corrman
well, now that I'm finally profitable, maybe I wouldn't do anything differently. even losing approx $140,000 including all kinds of related expenses, is just what it cost me.
Do your homework, follow the footprints of smart money
  • #642
  • Jun 27, 2018 9:12am Jun 27, 2018 9:12am
Quoting KeenPips
Did you learn from your losses? What did you do to turn your trades around? That should be of interest to us on this thread. Trade safe and prosper. KP {quote}
I could write a book... Lately my lesson has been that personal discipline is prerequisite (for me) for trading discipline.

Another lesson for me lately is that I am trading to feel good, which seems bad, but only if I am attempting to feel good based on "thinking about the money," which I have adjusted to feeling good, yes, but only by trading well. (rather than booking a gain) This is also coming from a revelation that everyone is doing everything for a feeling.

3rd for today is one I've been thinking a lot about lately. Compartmentalizing is a psych thing that we do, so I could be good at one thing but bad at another thing, even if it "should" be involving the identical sills and talent.

I'll stop there for now.
big money makes big moves and then hides during small money chasing.
  • #643
  • Jun 27, 2018 10:42am Jun 27, 2018 10:42am
Thank you for sharing.

Trade safe.

KP

Quoting corrman
{quote} I could write a book... Lately my lesson has been that personal discipline is prerequisite (for me) for trading discipline. Another lesson for me lately is that I am trading to feel good, which seems bad, but only if I am attempting to feel good based on "thinking about the money," which I have adjusted to feeling good, yes, but only by trading well. (rather than booking a gain) This is also coming from a revelation that everyone is doing everything for a feeling. 3rd for today is one I've been thinking a lot about lately. Compartmentalizing...
Do your homework, follow the footprints of smart money
  • #644
  • Jun 29, 2018 5:08am Jun 29, 2018 5:08am
Forex is not a stable market place where we can expect that a trading strategy will last for eternity. At least a trader should try to overcome his lacking to do better in the future. And there is no doubt that the traders who are willing to accept their mistakes can do exceptionally well than the traders who are willing to do so. And yes, I have learnt something new from the last week that will definitely help me to engage in better trade executions in the future.
  • #645
  • Jun 29, 2018 6:16am Jun 29, 2018 6:16am
Thanks mate for your contribution. Could you tell us what new thing you learnt last week?

Trade safe and prosper.

KP

Quoting LorraineMor
Forex is not a stable market place where we can expect that a trading strategy will last for eternity...And yes, I have learnt something new from the last week that will definitely help me to engage in better trade executions in the future.
Do your homework, follow the footprints of smart money
  • #646
  • Jun 29, 2018 1:51pm Jun 29, 2018 1:51pm
I wish I knew earlier to add to my position as it nears my stop. I did that today on EJ and my initial entry gained about 1.5pip but the entries I added as it pulled back and away from my long gained me 8 & 7pips approx. This requires confidence in the reason for entry and acceptance of increased loss potential and acceptance of uncertainty and it blew my mind and is now the most often trading gain technique that I have.
big money makes big moves and then hides during small money chasing.
  • #647
  • Jun 29, 2018 2:41pm Jun 29, 2018 2:41pm
Quoting LorraineMor
Forex is not a stable market place where we can expect that a trading strategy will last for eternity. At least a trader should try to overcome his lacking to do better in the future. And there is no doubt that the traders who are willing to accept their mistakes can do exceptionally well than the traders who are willing to do so. And yes, I have learnt something new from the last week that will definitely help me to engage in better trade executions in the future.
I 've been saying from another post. Learn to shut down your systems. Mostly for emotional reasons, I have found that no one can trade with his rational mind during a drawdown. For me I just convince myself that the markets will always be there another day. It's okay to beat a hasty retreat from time to time, you will find this advice well worthy.Cheers
When you see it, BET big.
  • #648
  • Jun 29, 2018 3:10pm Jun 29, 2018 3:10pm
I'm very much with you on this mate.

Trade safe and prosper.

KP

Quoting Rennaissance
{quote} ...Learn to shut down your systems. Mostly for emotional reasons, I have found that no one can trade with his rational mind during a drawdown. For me I just convince myself that the markets will always be there another day. It's okay to beat a hasty retreat from time to time, you will find this advice well worthy.Cheers
Do your homework, follow the footprints of smart money
  • #649
  • Jun 29, 2018 10:18pm Jun 29, 2018 10:18pm
I would ignored the golden rules of cutting your losers and letting your winners run.
And Aim to ensure that every lost is always the same size and every winner is always the size.
By doing this I feel alot more confident in my trade as even if I am the worst trader in the entire world , I would still only lose the spread due to the law of large numbers.
Which is ironic as storing my money in the bank would cost more $ in a year than taking a 1000 trades.
Not to mention my domestic currency depreciates faster than usd.
  • #650
  • Jun 30, 2018 12:59am Jun 30, 2018 12:59am
Really? Are you kidding? Is that what you learnt recently?

Trade safe.

KP

Quoting AmmaBoss
I would ignored the golden rules of cutting your losers and letting your winners run. And Aim to ensure that every lost is always the same size and every winner is always the size. By doing this I feel alot more confident in my trade as even if I am the worst trader in the entire world , I would still only lose the spread due to the law of large numbers. Which is ironic as storing my money in the bank would cost more $ in a year than taking a 1000 trades. Not to mention my domestic currency depreciates faster than usd.
Do your homework, follow the footprints of smart money
  • #651
  • Jun 30, 2018 1:16am Jun 30, 2018 1:16am
Yes, focusing on a constant risk / reward , has led to me improving my trading alot.
In fact the only time I feel regret and emotion unstable is when I lose a trade due to trying to let a winner a run, allow that to happen once yesterday.
  • #652
  • Jun 30, 2018 1:40am Jun 30, 2018 1:40am
That's a better way to put it. Having a fixed sl and a fixed tp is quite in order. But what you said earlier was a perfect way to blowing your trading capital.

Trade safe.

KP

Quoting AmmaBoss
Yes, focusing on a constant risk / reward , has led to me improving my trading alot. In fact the only time I feel regret and emotion unstable is when I lose a trade due to trying to let a winner a run, allow that to happen once yesterday.
Do your homework, follow the footprints of smart money
  • #653
  • Jun 30, 2018 1:46am Jun 30, 2018 1:46am
Quoting KeenPips
That's a better way to put it. Having a fixed sl and a fixed tp is quite in order. But what you said earlier was a perfect way to blowing your trading capital. Trade safe. KP {quote}
How so
1 : 1 RR ( constant pip value ) and a Win rate is more 50% is what I meant. ( have been able to achieve )
Was just saying that with this approach it allows one to feel more confident as I know that even if I suck and have no idea what I am doing , my risk is limited to the spread.
I also panic less when I make errors as I just assume the trade has a 50% of winning so I am trying to never exit a trade manually.
  • #654
  • Jun 30, 2018 1:53am Jun 30, 2018 1:53am
Letting a winner run doesn't mean that the trader should be greedy. You must know when to let it run. One way of doing this is to use a bigger time frame for target setting and also using multiple tps.

Trade safe.

KP

Quoting AmmaBoss
{quote} How so 1 : 1 RR ( constant pip value ) and a Win rate is more 50% is what I meant. ( have been able to achieve ) Was just saying that with this approach it allows one to feel more confident as I know that even if I suck and have no idea what I am doing , my risk is limited to the spread. I also panic less when I make errors as I just assume the trade has a 50% of winning so I am trying to never exit a trade manually.
Do your homework, follow the footprints of smart money
  • #655
  • Jul 3, 2018 12:41pm Jul 3, 2018 12:41pm
I let my "winners" run to my target, or if they are going in a "straight line" I know to kill them because straight lines end very soon, I also begin to take partial profits on the winners as they approach either my target or potential points that will likely slow them on their current path, basically prior pivots that are still relevant. I had to greatly reduce my greed.
big money makes big moves and then hides during small money chasing.
  • #656
  • Jul 3, 2018 5:36pm Jul 3, 2018 5:36pm
Quoting corrman
...I had to greatly reduce my greed.
We all need to do this.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #657
  • Jul 19, 2018 1:18pm Jul 19, 2018 1:18pm
Has there been anything you learnt recently for a more successful trading? I basically trade price action but I use 2-3 MAs to visualize and read price structure and order flow. One of the things I have been doing recently is to enhance the efficiency of my trading system.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #658
  • Jul 19, 2018 10:28pm Jul 19, 2018 10:28pm
Turned off the squawk box, and no not my wife.
  • #659
  • Jul 20, 2018 1:29am Jul 20, 2018 1:29am
Why?

KP

Quoting Sonofsin5
Turned off the squawk box, and no not my wife.
Do your homework, follow the footprints of smart money
  • #660
  • Jul 24, 2018 5:07am Jul 24, 2018 5:07am
Quoting KeenPips
Has there been anything you learnt recently for a more successful trading? I basically trade price action but I use 2-3 MAs to visualize and read price structure and order flow. One of the things I have been doing recently is to enhance the efficiency of my trading system. Trade safe and prosper. KP
Good to see you passing such useful advice to the fellow traders. i tend to agree with you on trading discipline and learning from the losses. how much time did it take you to get better results from your trading? if you don't mind answering
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