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Stop searching for the 'Holy Grail', work on yourself!

  • #161
  • May 21, 2019 3:54am May 21, 2019 3:54am
How important is trade entry timing? How do you time your entry?

KP
Do your homework, follow the footprints of smart money
  • #162
  • May 22, 2019 4:07am May 22, 2019 4:07am
Quoting KeenPips
How important is trade entry timing? How do you time your entry? KP
Purely from my perspective...... equally important as the other aspects of any given trade.

See post 107 for simple analogy concerning exactly that point.

Regarding timing....again, it is related to the above, but there are different kinds of timing ie is the trade an initial entry or is it an add on entry. For some, it can get a little complicated with add ons, but not much, providing equity earnt is factored in, and then appropriate stops and tps can be easily input.

The thing is though, how would you answer your own questions...that's what matters.
  • #163
  • May 22, 2019 4:20am May 22, 2019 4:20am
Thanks mate for your post. I respect the perspectives of fellow traders, even those who people call 'newbies' and I hope more FF members contribute to this thread. Personally, I believe membership of FF is primarily about sharing and exchanging trading ideas, knowledge, techniques and experience, and learning from one another. Regarding timing of trade entry, I believe that after getting a directional bias, the next important thing is timing the trade entry. And here is where many of us get it wrong. Patiently stalking the market and waiting for a feasible setup is more important than jumping into the market. I get my directional bias from the D1 tf and with a setup around a predetermined area of value, then I go to the H1 time frame for precision trade entry.

Trade safe.

KP

Quoting Landline
{quote} Purely from my perspective.....The thing is though, how would you answer your own questions...that's what matters.
Do your homework, follow the footprints of smart money
  • #164
  • May 22, 2019 4:36am May 22, 2019 4:36am
I've been trading since 2013 and nearly 6 years later I've come to a few conclusions, system hopping is detrimental, the holy grail is inside our own heads and keep it simple stupid. I think many of us over complicate things in the early days.
Ardua Ad Astra Per
  • #165
  • May 22, 2019 4:49am May 22, 2019 4:49am
Quoting mistakesr
I've been trading since 2013 and nearly 6 years later I've come to a few conclusions, system hopping is detrimental, the holy grail is inside our own heads and keep it simple stupid. I think many of us over complicate things in the early days.
Yeah...I couldn't agree more with you. We all at some point became influenced by someone (rightly or wrongly). Often, big personality characters....you know the type lol....grab peoples attention. We learn who or what to entrust with experience...it's a never ending journey for a lot of people....much like a conveyor belt with novices being fed to the so called gurus haha.....
  • #166
  • May 22, 2019 5:03am May 22, 2019 5:03am
Thanks mate. You hit the nail on the head. Let me add that simplicity can be beautiful but it comes with experience.

Trade safe.

KP

Quoting mistakesr
I've been trading since 2013 and nearly 6 years later I've come to a few conclusions, system hopping is detrimental, the holy grail is inside our own heads and keep it simple stupid. I think many of us over complicate things in the early days.
Do your homework, follow the footprints of smart money
  • #167
  • May 22, 2019 5:06am May 22, 2019 5:06am
Very encouraging post mate. You mentioned another important point: we are often misled or awed by 'big names' or 'big personalities.'

Stay green.

KP

Quoting Landline
{quote} Yeah...I couldn't agree more with you. We all at some point became influenced by someone (rightly or wrongly). Often, big personality characters....you know the type lol....grab peoples attention. We learn who or what to entrust with experience...it's a never ending journey for a lot of people....much like a conveyor belt with novices being fed to the so called gurus haha.....
Do your homework, follow the footprints of smart money
  • #168
  • May 28, 2019 3:02am May 28, 2019 3:02am
Are you a trend trader? Below is a video that shows a way of taking advantage of a trend after it has started. It is an old video but see what you can get out of it. As usual, I have no financial interest in the presenter, neither am I setting them up as a 'guru' to follow.

Trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #169
  • May 31, 2019 9:29am May 31, 2019 9:29am
If you trade from value areas or reaction zones, you may find the video below helpful. As always, I have no financial interest in the presenter neither am I setting them up as a 'guru' to follow.

Trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #170
  • Edited 10:07am May 31, 2019 9:53am | Edited 10:07am
Of course, this will depend on your trading style. Which time frame do you use for your supply and resistance zones?

KP

Quoting KeenPips
If you trade from value areas or reaction zones, you may find the video below helpful. As always, I have no financial interest in the presenter neither am I setting them up as a 'guru' to follow. Trade safe. KP https://www.youtube.com/watch?v=k4PI...ature=youtu.be
Do your homework, follow the footprints of smart money
  • #171
  • Jun 4, 2019 1:30am Jun 4, 2019 1:30am
Just sharing

One principle I try to adhere to is to keep things as simple as possible and master the markets. After my almost 10 years of trading - although not full time, I have come to the realization that simplicity comes with experience. In the process of gaining the experience, mastering the markets should be a high priority of any trader who wants to be successful on a consistently sustainable basis.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #172
  • Jun 4, 2019 4:46pm Jun 4, 2019 4:46pm
As a short to medium term swing trader, I use the weekly time frame to identify value areas such as support and resistance zones. What about you?

KP

Quoting KeenPips
Of course, this will depend on your trading style. Which time frame do you use for your supply and resistance zones? KP {quote}
Do your homework, follow the footprints of smart money
  • #173
  • Jun 5, 2019 9:26am Jun 5, 2019 9:26am
Swing trading requires discipline, particularly patience, to be successful. I also believe that even any type of trading requires some element of discipline. But because many of our threads here promote scalping, intraday trading and swift trade entry calls, many of us fail to realize that we have to spend some time to personally decide when and at what levels to enter our trades. Taking such a time to do that is likely to provide better trading results imho.

Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #174
  • Jun 5, 2019 10:38am Jun 5, 2019 10:38am
Talking about simplicity, it is important that traders operate at their own level of convenience, confidence, development and mastery. That is why I find it repugnant to read the posts of some FF 'gurus' sneering at indicator-laden charts of fellow traders, particularly newbies/noobs, or chiding 'lesser-able' traders for not trading 'naked' charts. It is like sneering at a toddler for not racing. A trader should focus on what makes him or her money. After all, it is what hits your pocket or trading account that should matter, not the opinions of 'gurus.'

KP

Quoting KeenPips
Just sharing One principle I try to adhere to is to keep things as simple as possible and master the markets. After my almost 10 years of trading - although not full time, I have come to the realization that simplicity comes with experience. In the process of gaining the experience, mastering the markets should be a high priority of any trader who wants to be successful on a consistently sustainable basis. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #175
  • Jun 12, 2019 6:40am Jun 12, 2019 6:40am
We all make mistakes in Forex trading. But to improve as traders we have to identify our individual mistakes and learn to deal with them. The below video points out some mistakes Forex traders make. Is there any mistake you can relate to? As usual, please note that I have no financial interest in the presenter, neither am I holding him up as a 'guru' to follow.

Trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #176
  • Jun 12, 2019 7:12am Jun 12, 2019 7:12am
Mistake # 6, which deals with systems hopping, and mistake # 8, which deals with relying on rumours or trade calls by other people, are common in our community here. One thing that I find interesting, which is very much what we have been focusing on on this thread, is there is no perfect system or strategy. Doing your home work is also an important point. Making yourself your own 'guru' comes with doing very good homework on improving your mastery of the markets and your trading skills.

Trade safe.

KP

Quoting KeenPips
We all make mistakes in Forex trading. But to improve as traders we have to identify our individual mistakes and learn to deal with them. The below video points out some mistakes Forex traders make. Is there any mistake you can relate to? As usual, please note that I have no financial interest in the presenter, neither am I holding him up as a 'guru' to follow. Trade safe. KP https://www.youtube.com/watch?v=qeP6N5OY8eo
Do your homework, follow the footprints of smart money
  • #177
  • Jun 12, 2019 10:30am Jun 12, 2019 10:30am
Tips to Consider

The name of the game is patience. Don't be in a rush for quick profits and avoid gambler's mentality. Play to have enough trading capital to be in the business long enough to master the markets and learn consistently profitable skills, systems and strategies.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #178
  • Jun 13, 2019 1:55pm Jun 13, 2019 1:55pm
Quoting KeenPips
Mistake # 6, which deals with systems hopping, and mistake # 8, which deals with relying on rumours or trade calls by other people, are common in our community here. One thing that I find interesting, which is very much what we have been focusing on on this thread, is there is no perfect system or strategy. Doing your home work is also an important point. Making yourself your own 'guru' comes with doing very good homework on improving your mastery of the markets and your trading skills. Trade safe. KP {quote}
Can't agree enough. Most people are focusing their time on the wrong things, rather than... back testing and practicing psychology.
  • #179
  • Jun 13, 2019 2:03pm Jun 13, 2019 2:03pm
Quoting TradeMinim
{quote} Can't agree enough. Most people are focusing their time on the wrong things, rather than... back testing and practicing psychology.
back testing doesn't work since what happens in the past does not indicate the future
Don't Worry Be Happy
  • #180
  • Jun 13, 2019 4:14pm Jun 13, 2019 4:14pm
Let's focus on the real issue being emphasized. It's not about back-testing but about identifying our mistakes and working at improving our skills.

Trade safe.

KP

Quoting MrPresident
{quote} back testing doesn't work since what happens in the past does not indicate the future
Do your homework, follow the footprints of smart money
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