What increased your probabilities as a trader?

For me, many of my biggest breakthroughs came after tried it out in all ways
and when looking at it with completely fresh new eyes and perspective.

time frames are important to me.

How do you work with timeframes?

Fibonacci traders can increase their probabilities by targeting extensions 0.618 and 1.618, but buying or, selling retracements isn't so profitable.

Moving averages are my most favourite indicators.

Answering this question, I probably wouldn't talk about a specific indicator or strategy, I would rather say that my serious attitude to trading helped me, or rather that I started working not just for luck, today I have earned and tomorrow I will not. After all, in the beginning it was really like an entertainment, which just sometimes threw me money. But once I decided that I wanted to work with a lot of money, I realized that I needed a more serious system and I can't afford to do anything nonsense. I just can't take that risk. And since then I started to study the market and trading in more detail, I began to analyze my actions and from that moment on I started to come to a stable income and to cope with some difficulties faster.

Hi Guys,

Getting into a trade is the difficult part. Getting out of a trade is the easy part if you take quick profits, but the worst part if you want to let it run because in your mind the trade is going to turn against you. It is the psyche of the market that you are always contending and competing with, right?.

So, lets go back. Getting into a trade is difficult, but if you get it right. You get out at quick profits. So now you are at the beginning again which is getting into a new trade which is the difficult part. It is a constant battle. What if you can get into a trade which is the difficult part and you set break even a soon as possible and you let your trade run?, you go and sleep and rest assured. If your break even is set and gets taken out, you live to trade another day. If your breakeven holds, you run into tens of pips if not hundreds of pips, obviously with your trail stops kicking in. In this way you cut out the constant psyche and competition you have to deal with. Your stress obviously starts again if your trade is taken out and you have to start at the difficult part, the new trade.

Here's the thing for me, because I have winners my next new trade does not become stressful and difficult, but becomes a process of confidence. Confidence is a strong weapon in making the right decision with a level head.

These are the things that have worked for me throughout the years more so than any trading system.

Hope it helps,
Cheers.

undoubtedly a lot of observation, studies and training.

I can see that. Your username says it all. It's not only offensive and disrespectful but also shows a lack of maturity.

following the news using a rss reader with feeds forexlive,dailyfx,fxstreet
no indicators only floor pivots d1,w1,mn and news event alert indicators
trade only forex USD major pairs,gold,sp,cl, 1 percent risk, use pivotpoints to place stoplosses
and order flow analysis/ tape reading using ATAS(Advanced Time And Sales)

I think each indicator has its strength but none are black and white. Take RSI for example, just by having the indicator on your chart doesn't mean the trader is selling every time RSI reaches 70 and buying 30.

Over time each trader learns of the nuances of that particular indicator. Like when assets can go overbought for an extended period of time and how now all of a sudden that offers a bullish signal rather then bearish. The same can be said for most indicators. It's not so much how you use it, but understanding the relationship between price and indicator.

I'll add from my own experience, don't use an indicator as a crutch. There have been times where I don't have a clear read of the markets and I'll start checking an indicator for clues. Generally not a good idea for me, imo it's better to already have some expectation for where price is going and then use the indicator for confirmation.

The only stuff RSS is really good for is spotting divergence (period 4 is excellent for this on the Daily), and confirming trends.

The whole 'sell' when it's overbought and 'buy' when it's oversold strategy is a sham. I read a comment from someone who said when it hits overbought territory, that's when you buy. The same rule could apply to oversold. Test it out using MT4's strategy tester. It's interesting how it often works out like that. You're almost guaranteed a certain amount of pips each time.

Ditching SL.

Experience, years of experience.

Know-how.

Without a doubt: trading less. Only taking the very best trades. Beyond that, having big dry powder to be ready for the very berry best trades.

Very much in agreement, mate. Developing your ability as a trader to understand the markets and then identify and wait for the best set-ups will lead to trading less, particularly if you exercise patience and discipline. This enhances your probability to succeed as a trader on a consistent basis.

Trade safe.

KP

Quoting The Fool

Disliked

Without a doubt: trading less. Only taking the very best trades. Beyond that, having big dry powder to be ready for the very berry best trades.

Ignored

Sometimes it is best to trade without one or to make a stop loss wider than usual.

Know how to find where the Big Boys Entries are on a chart, only they can move the market.
Price levels are Best tools, and very important, EXCELLENT MM.
Any person buying an item always wants to know "What is the Price?".

Roy

I think I benefited more from what I immediately began to regard trading as a serious business, on which the amount of money I will earn depends directly. I didn't just want to have fun or try it, I wanted to be the one who would be able to figure it out and was ready to spend a lot of time learning and testing what I learned in theory in practice, etc. Indeed, trading has turned out to be a bit intense but interesting, so I'm still doing it and I plan to continue developing in this matter.