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To be successful... cut out the noise

  • #141
  • Jan 3, 2020 2:09am Jan 3, 2020 2:09am
Quoting 7Shun
Most people don't understand what forex trading is really about and that's why they want to follow others people opinion or to add a lot of charts. I also didn't understand why people do this until I didn't realised that people are simply unconfident in their own skills and knowledge. That's why a lot of traders think that technical analysis is some kind of panacea, the magicstick that will help them earn, or at least not lose money. I don't want to say that technical analyis is bad or doesn't work. Of course it works. But technical analysis is...
You are absolutely right. I have always followed one principle never take an advice from others.
  • #142
  • Jan 3, 2020 12:09pm Jan 3, 2020 12:09pm
Quoting j12
{quote} I trade of my android phone, probably log onto MT4 on my laptop a few times a year if that...
Nice one! Great to hear you don't feel the need to have 1000 monitors! If it works for you then that's fantastic :-)
  • #143
  • Jan 3, 2020 3:19pm Jan 3, 2020 3:19pm
Quoting j12
{quote} I trade of my android phone, probably log onto MT4 on my laptop a few times a year if that...
Are you doing manual trading or EA based trading mainly? Thanks in advance.
  • #144
  • Jan 3, 2020 4:27pm Jan 3, 2020 4:27pm
Quoting NeilWagner
{quote} Are you doing manual trading or EA based trading mainly? Thanks in advance.
Hey I do manual, EA doesn't really work for me..
J12
  • #145
  • Jan 3, 2020 4:30pm Jan 3, 2020 4:30pm
Not much movement in the markets, so I opened on the 2nd, I would have probably opened on the 6th you'll get more movements. But regardless a 31 point movement. So I can't complain, next week we can settle in...

J
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J12
  • #146
  • Jan 3, 2020 4:32pm Jan 3, 2020 4:32pm
Could have taken 60+ pips here, but makes no real difference as it's a minimum difference in terms of %.
J12
  • #147
  • Jan 3, 2020 4:33pm Jan 3, 2020 4:33pm
Quoting Radtrade
{quote} You are absolutely right. I have always followed one principle never take an advice from others.
I guess sometimes it's ok... But you can probably tell a story teller from an honest person...
J12
  • #148
  • Jan 3, 2020 4:34pm Jan 3, 2020 4:34pm
Quoting ChilledT
{quote} Nice one! Great to hear you don't feel the need to have 1000 monitors! If it works for you then that's fantastic :-)
Thank you, but I guess if you're wanting to trade intra day, then you'd probably need the screens etc...
J12
  • #149
  • Jan 4, 2020 9:45am Jan 4, 2020 9:45am
Quoting j12
{quote} Hey I do manual, EA doesn't really work for me..
That’s really awesome; manual trading is the best! Thanks for your response!
  • #150
  • Jan 5, 2020 11:33am Jan 5, 2020 11:33am
Quoting j12
{quote} Thank you, but I guess if you're wanting to trade intra day, then you'd probably need the screens etc...
I find that more than one screen (laptop for me), even for H1 & H4, ends up causing more problems, second-guessing, over-thinking etc. I have a policy that if it doesn't jump out at me, then it's not a trade. More screens just means that I end up hunting for trades and that's never ended well for me!
  • #151
  • Jan 7, 2020 8:03am Jan 7, 2020 8:03am
Look how many books are written about what should and should not be done in order to achieve significant results. And each of us on his own personal example, understands when he failed to achieve their goals and when everything has developed as it should and what contributed to it. I know exactly what helps me, for example, by not fixing on mistakes. No, I don't ignore them, but if such a situation has occurred and I have made a mistake, I just try to quickly analyze the situation and move on so that I don't let it happen again. And it allows me to qualitatively cope with all the difficulties. But my friend, for example, keeps detailed reporting and statistics, and every day he looks through the indicators - if something is not right in fact immediately finds out why it is. And I am sure that everyone has their own rules.
  • #152
  • Jan 7, 2020 2:53pm Jan 7, 2020 2:53pm
Quoting Eredribaen
Look how many books are written about what should and should not be done in order to achieve significant results. And each of us on his own personal example, understands when he failed to achieve their goals and when everything has developed as it should and what contributed to it. I know exactly what helps me, for example, by not fixing on mistakes. No, I don't ignore them, but if such a situation has occurred and I have made a mistake, I just try to quickly analyze the situation and move on so that I don't let it happen again. And it allows me...
Yes it's such a personal journey. It's all about getting to know oneself better - sometime we find out things about ourselves we'd rather not know!..
  • #153
  • Jan 9, 2020 9:42am Jan 9, 2020 9:42am
recently i am trying out a new approach to trade.
very simple approach, it should work in theory.
if it works, analysis will save you many hours.
and I would have much more free time, not the last thing.
and it wouldn't be so stressful.
  • #154
  • Jan 9, 2020 11:20am Jan 9, 2020 11:20am
Quoting tiborf71
recently i am trying out a new approach to trade. very simple approach, it should work in theory. if it works, analysis will save you many hours. and I would have much more free time, not the last thing. and it wouldn't be so stressful.
Sometimes simple is better, just less stress. This approach I feel works better for me.

Did anyone read the article today about a forex trader called GS3 Forex. Amazing example of people conning people in Forex. Some £3.7m lost in a few days. Crazy how people followed this fool & handed money over.

P.s. Sorry I've not had much time to post on my blog post..

J
J12
  • #155
  • Jan 9, 2020 8:00pm Jan 9, 2020 8:00pm
I agree with the statement.
I started to profit when my strategy became simple, to a point where I could explain to a five year old.
market is a device for transferring money from the impatient to the patient
  • #156
  • Jan 10, 2020 6:32am Jan 10, 2020 6:32am
Quoting j12
Hey don't know how long this thread will last. But I just want to say to be successful in Forex the golden ticket is totally cut out all the noise. I think this is my 10th or 11th year doing this. I've probably experienced every emotion, every system & EA out there. Forex is probably the most simple thing to do once you realise it & it clicks in your head. Yet the journey that people go through is incredible. Truly fascinates me reading some posts... 30/12/19: I'll be setting my trade explorer to private on FF during live trading, however I'll have...
When you place buy order, let's say 100 other traders see it and they decide "let's copy this".. they will just add strength to buy trend. If they do it blindly - their free choice. What is here problem?

I wont copy your trades because dont know what drawdown is ok for you? For me 80% drawdown is not ok for example.
  • #157
  • Jan 10, 2020 2:19pm Jan 10, 2020 2:19pm
I think that, in principle, thoughtless copying of trades or the same unjustified following of a strategy cannot be called productive trading. Because in order to work correctly and thoughtfully you need knowledge and practical experience, which will allow you to learn how to trade calmly, without unnecessary emotions and not to forget about all the technical aspects. Obviously, nobody says that everything will be completely according to plan, in fact, there will probably be certain difficulties that can prevent you from achieving your goals, and this is a key factor because of which not everyone can be successful in trading. But if you succeed, you will become a real lucky man, who will feel both good profits and satisfaction from the work done.
  • #158
  • Jan 10, 2020 3:52pm Jan 10, 2020 3:52pm
If you know how to filter out the noise (ability, method), then you're really a giant step ahead of the competition.

I'm speaking from experience.
  • #159
  • Jan 13, 2020 7:38am Jan 13, 2020 7:38am
Quoting bs4
to a point where I could explain to a five year old.
Absolutely love this! Spot on :-)
  • #160
  • Jan 13, 2020 9:46pm Jan 13, 2020 9:46pm
Quoting j12
{quote} Thank you, but I guess if you're wanting to trade intra day, then you'd probably need the screens etc...
Nope
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