Keys to Success

Got your point; best wishes with your own trading Robot! Keep hunting…..

Fair point, but in reality, a portfolio spends longer below the highs than above. In other words, the equity curve is underwater most of the time. It's how a trader deals with this on an emotional level that makes all the difference.

It's easy to look at an equity curve in hindsight and believe that one would be OK with all those times in drawdown. Quite another to be able to cope with those drawdowns in real time.

Trade with discipline and stick to your plan. That’s the key to success for me.

Take control of your emotions and stress less.

... and in order to understand how to achieve success, you need to be on edge several times, be an inch from your weakness. And only after such an experience, you can really find your way to success.

Well that’s a very important thing to note while you trade forex. People have a hard time controlling their emotions.

Golden key to success is keep patience. Do more and more practice. No doubt practice makes a man perfect. Keep yourself motivated and never stop learning.

1. Remove your emotions when trading
2. Keep your risk/reward in check
3. Manage your position size
4. Cut losers and let winners run
5. Use a stop loss but let the trade breath
6. Back test and demo trade
7. Be realistic
8. Be different, don't trade the way 90+ percent of traders trade
9. Don't give up
10. Read #9 again

One keys to success is Consistency.

Predicting the market is not the key to wealth; being prepared for whichever direction it goes is.

Trade less, a lot Less. Like super less, 2 times a week.

It seems to me that your emotional state is important to your success in trading. I honestly cannot imagine how you can be completely relaxed or calm during trading, but I know for sure that you cannot let your emotions go. The more calm and thoughtful you will act, the more likely it is that you will leave the market today at a profit. That's the pure truth. The second important component of success, in my opinion, is a quality strategy, which you understand and can adapt depending on what is going on in the market. Of course you cannot say that there is any universal approach, but at least you should have a basic strategy.

Honestly, these recommendations are correct, but a little abstract. Which means don't lose any money. Obviously, no one wants that to happen. But it does happen, and every day. And I don't think we should go on to the last one to prove to someone that I'm strong and not afraid of anything. I am convinced that sometimes it is better to pause and look around to continue working more freely and better tomorrow, avoiding previous problems. The most important thing is not making mistakes, but to be able to cope with them and draw conclusions that help everyone to become a professional in their business. Many business representatives were on the verge of bankruptcy or just lost their partners and concluded wrong deals, but this does not prevent them from reaching the result of multimillion profits.

#2 Adapting, being more cunning

I can't stress how important good listening skills are, and I encourage everyone to develop listening skills. A lot of you maybe thinking that you do have them, and you would just need to focus, but no, there are actual techniques that have to be implemented. Formatting any problem, laying out the problem in detail requires good listening skills.

Now to solve a problem, which in my opinion, requires less of a process: of course takes some ingenuity. But I will talk about a skill that most people do not have. It's to be more adaptive. You see, the premise of this is that, not everyone is bulletproof. And therefore no idea that roams through the planet is bulletproof(however well thought out of in terms of execution). Anything created from void to touch finite boundaries like fabric can be beaten. There's always a margin of speculation, and a differing perspective to any one idea. Something like many worlds theory, there's an anti- to everything you can think of, in fact there can be infinite ways an anti works. Or infinite ways to neutralize any idea, or anything tangibly created. Meaning, any one man, or group of men, however clever they are with their inherent philosophies can be beaten, as long as you are more cunning than them. In order to disarm any idea, or to neutralize it, first you have to be aware of the tools being used against you. This requires listening skills. If you cannot fully disclose what's going on, which during the majority of the time you cannot because you don't have enough smarts, or haven't been around the block much. It becomes a battle of, how to beat something that I don't know about that keeps beating me. That feels like a magical force field. So you go back to listening, and try to grab more details until you're able to disarm the tool. After you disarm the tool you could use it against them as well, since it becomes a resource; to add onto this you could use it in ways they didn't even primarily think of in their own intention, without them ever realizing it. This is true adapting(specifically what I do in the market). Or better yet, you can come in with a tool they don't have, and in their life time have missed it and aren't adequately prepared to deal with it.

Every problem has a solution except death, I was told. And if a problem can't be solved, the way it was formatted was either something of a fallacy, or just an incoherent thought that lacks craft and perspective. As you know, you can create more problems with a problem.

Now it sounds a bit Machiavellian to be cunning, but I will say the root of cunningness is to care, another derivative of love. To make every single detail a life and death situation is required to adapt. I get some people won’t care to be a champion or whatever but at the highest level you better know how to strategize and how to bring efficiency through adapting.