Keys to Success | Forex Factory

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Keys to Success

  • #1
  • First Post: Jun 14, 2019 7:19am Jun 14, 2019 7:19am
1. Don't lose money : A trader should never observe a significant drop in the value of his portfolio. Keeping accounts near equity highs at all times is the single most important key to success in trading. It is also the hardest to learn , how do u walk through a minefield without getting some part of you or all of you blown up. Staying near those highs enables you to take advantage of luck when it presents itself.
When you see it, BET big.
  • #2
  • Jun 17, 2019 1:07pm Jun 17, 2019 1:07pm
A) You're only as good as your emotional state

B) Retail trading is hard, retail forex trading is very, very hard. Try a more regulated market

C) Trading is a game of probabilities. It's about seeing the forest for the trees, not being right on every single trade, which will make you lose money

D) If you can't explain your edge, you don't have one
  • #3
  • Jun 17, 2019 9:09pm Jun 17, 2019 9:09pm
Quoting Rennaissance
1. Don't lose money : A trader should never observe a significant drop in the value of his portfolio. Keeping accounts near equity highs at all times is the single most important key to success in trading. It is also the hardest to learn , how do u walk through a minefield without getting some part of you or all of you blown up. Staying near those highs enables you to take advantage of luck when it presents itself.
The Question is HOW not to lose money? It your system profitable throughout the years? Is your system's rules fixed? how is your efficiency executing it? This are the MAJOR keys to success in trading.
  • #4
  • Jul 16, 2019 5:54pm Jul 16, 2019 5:54pm
Just one

LISTEN

Don't speak, you won't learn anything new from yourself. Don't judge. Just listen.
The better you listen the more results you'll get from problem solving. The more details will come about. The more animate and inanimate objects will lend you their time. The less you're of yourself the more the doors will open. The more attractive you make yourself to lady luck.
Just listen. The only thing I learned to do well is listen.

You'll notice listening attracts women; it attracts friends. It attracts just about everything that's heavenly present on earth from time to money. It's overlooked by the majority of folks too busy trying to separate themselves apart from the universe.
I'm not talking a fancy frequency. I'm talking about listening: taking time to surrender your beliefs and hear out the beliefs of anything you watch, hear, taste, & do.

"He who is filled with love is filled with god himself." — Saint Augustine
  • #5
  • Edited Jul 17, 2019 3:40pm Jul 16, 2019 6:08pm | Edited Jul 17, 2019 3:40pm
the key to success is to have patience, and know how to respect our time ... each person has their time for everything ... Learning from mistakes, it takes a lot of meditation to not let the ego get in the way, the blessings and the miracles destined for us can not be found if we pretend or lie to ourselves to be what we are not ... we must be true with our inner self.
  • #6
  • Jul 17, 2019 5:18am Jul 17, 2019 5:18am
Looking for the key to success is a prematurely unsuccessful plan.
Success is not a lock to open. Success is not an obstacle to overcome. Success is an inner feeling of completeness and satisfaction, to which we should strive. So, there is only such a thing as "method" or "path".
First of all, this is the path of losses and errors, so the most important is experience. Further, it is important to understand that you are going to success, and not destroying yourself, so peace and patience should be followed. Well, not less important part of the path is the ability to "catch" information. It is important to pass through this huge amount of data and filter only what is necessary and useful.
#Anthonywins
  • #7
  • Jul 17, 2019 5:31am Jul 17, 2019 5:31am
Quoting AnthonyWins
Well, not less important part of the path is the ability to "catch" information. It is important to pass through this huge amount of data and filter only what is necessary and useful.
This is a very important point. Such huge amount of information overflowing here at forexfactory and 90% of it are pure garbage. In fact, even my post here is mostly garbage because how do we know/learn from anyone here if 90% of the users/members here are losing forex retailers....

Catch 22... the blind leading the blind...

However, due to a huge amount of time spent here, i have learnt the great skill of filtering scam artists and bullshit marketers. It will not be helpful for my trading but it will help definitely to detect Nigerian scam easily...
  • #8
  • Jul 17, 2019 5:34am Jul 17, 2019 5:34am
Forget rumours, trade based on a top-down analysis of the market.

KP
Do your homework, follow the footprints of smart money
  • #9
  • Jul 17, 2019 3:34pm Jul 17, 2019 3:34pm
Flip a coin then trade. You cannot forecast the direction of tomorrow's movement, nobody can. Trading well is a losers game.
When you see it, BET big.
  • #10
  • Jul 18, 2019 3:05am Jul 18, 2019 3:05am
Quoting Rennaissance
Flip a coin then trade. You cannot forecast the direction of tomorrow's movement, nobody can. Trading well is a losers game.

Your plan for avoiding losing money is to toss a coin? We all know the best way is to roll two dice.
  • #11
  • Jul 21, 2019 2:29pm Jul 21, 2019 2:29pm
Trading plan&patience!!!
  • #12
  • Jul 21, 2019 7:23pm Jul 21, 2019 7:23pm
Your management with your work can improve many things with your working life. A proper management can gave many things which can help you.
  • #13
  • Aug 27, 2019 12:46am Aug 27, 2019 12:46am
One needs to be disciplined and have a trading plan which should not be broken. It helps traders to stay calm while trading and open and close each order without any hesitation.
  • #14
  • Aug 27, 2019 2:05am Aug 27, 2019 2:05am
Be strong, strong is what happens when you run out of weak
life is a reflection of what we allow ourselves to see
  • #15
  • Aug 27, 2019 6:01am Aug 27, 2019 6:01am
Quoting rogerpro
One needs to be disciplined and have a trading plan which should not be broken. It helps traders to stay calm while trading and open and close each order without any hesitation.
I agree with your opinion; changing the trading strategy during the crucial moment is a problem!
  • #16
  • Aug 27, 2019 6:05am Aug 27, 2019 6:05am
Figure out how to trade EURUSD with 500pips Stop Loss. LOL
  • #17
  • Aug 27, 2019 6:10am Aug 27, 2019 6:10am
Lie about your results, seems to be working pretty good here at FF
  • #18
  • Aug 27, 2019 8:29am Aug 27, 2019 8:29am
Quoting peterbabs
Figure out how to trade EURUSD with 500pips Stop Loss. LOL
For what? 1000 pips TP? Ha ha ha!
  • #19
  • Aug 28, 2019 6:52am Aug 28, 2019 6:52am
Quoting NeilWagner
{quote} For what? 1000 pips TP? Ha ha ha!
Not necessarily.
What goes up comes down for more than half of the pairs. Some swing less than 800pips over the last 12 months. Less than 400pips over last 2 months.
I created a robot that's trading in the 2 months range in both directions.
If not much volume, relatively, is trading like that in the market, the range will not change significantly beyond the profit made as to affect the stop loss, if you have a good entry and exit trigger.
Tiny LotSize, several pairs, 100pips between trades in the same direction. High open P/L, but equity growing.

I'm talking too much
  • #20
  • Aug 28, 2019 11:02pm Aug 28, 2019 11:02pm
Keep your calm and never panic. Always be disciplined and stick to your trading plan. Take decisions based on logic and observation rather than gut feelings. Keep emotions at bay. Things like over trading , feelings of fear and greed can wipe you out badly. Use stop losses to restrict your losses.
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