Stop searching for the 'Holy Grail', work on yourself! | Page 18 | Forex Factory

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

  • #341
  • Jan 3, 2020 4:38am Jan 3, 2020 4:38am
@harry6, let me state in this regard that self-mastery can be a basis for our ultimate success in Forex trading. People call it trading psychology.

Trade safe mate.

KP
Do your homework, follow the footprints of smart money
  • #342
  • Jan 6, 2020 12:57am Jan 6, 2020 12:57am
Do you have rules that guide your trading? Having a trading plan requires stating the trading rules that influence what you look for in the trading environment and in deciding the right type(s) of setups; it also means rules that shape your approach to trading, including when you trade and your trading routine. It may involve a trading checklist and you will have to write down at least the key aspects or outlines of such rules. At any rate, if you have such rules, what remains will be your discipline to stick with them except when some of them are reviewed based on your trading experience.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #343
  • Jan 8, 2020 2:57am Jan 8, 2020 2:57am
Quoting KeenPips
@harry6, let me state in this regard that self-mastery can be a basis for our ultimate success in Forex trading. People call it trading psychology. Trade safe mate. KP

A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #344
  • Jan 8, 2020 4:48am Jan 8, 2020 4:48am
Just sharing

Once you get the market direction right, location of price action and timing of your entry are critical to your trading success.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #345
  • Jan 9, 2020 6:44am Jan 9, 2020 6:44am
Talking about market direction, this is the first thing before considering any trade. So, developing a solid ability and system to understand the market condition and to quickly determine the market direction for each pair should be number one concern in my opinion. Have you developed such ability? Do you have a simple system for that, a system that you have tested and mastered?

Trade safe.

KP

Quoting KeenPips
...Once you get the market direction right... KP
Do your homework, follow the footprints of smart money
  • #346
  • Jan 11, 2020 8:06pm Jan 11, 2020 8:06pm
What I have come to realize is that the better you are at separating or distancing yourself from your trading, the more successful you are going to be. We are such emotional creatures and when the market moves against our expectations and we start seeing our open positions turning red and our balance shrinking, we panic and lose faith in our trading strategy. That is why ultimately, I believe once you have a good trading strategy down, make a bot out of it and develop the discipline to walk away from your computer and let your strategy run its full course.
  • #347
  • Jan 11, 2020 10:51pm Jan 11, 2020 10:51pm
Great thread KP!

I don't recall seeing any Al Brooks videos posted here, so I thought I'd leave a short one. I don't know anything about Al or his trading course, but he seems to have an effective way of reading charts and trading.

Enjoy!

Inserted Video
Green Acres is the place to be.
  • #348
  • Jan 11, 2020 11:25pm Jan 11, 2020 11:25pm
Talking about trading discipline there. Good point!

KP

Quoting blackhatfx
What I have come to realize is that the better you are at separating or distancing yourself from your trading, the more successful you are going to be. We are such emotional creatures and when the market moves against our expectations and we start seeing our open positions turning red and our balance shrinking, we panic and lose faith in our trading strategy. That is why ultimately, I believe once you have a good trading strategy down, make a bot out of it and develop the discipline to walk away from your computer and let your strategy run its full...
Do your homework, follow the footprints of smart money
  • #349
  • Jan 11, 2020 11:27pm Jan 11, 2020 11:27pm
Thanks mate. Al Brooks is a market wizard and legendary in scalping.

Trade safe.

KP

Quoting FredZiffel
Great thread KP! I don't recall seeing any Al Brooks videos posted here, so I thought I'd leave a short one. I don't know anything about Al or his trading course, but he seems to have an effective way of reading charts and trading. Enjoy! https://www.youtube.com/watch?v=D5CXbm_iYWU
Do your homework, follow the footprints of smart money
  • #350
  • Jan 17, 2020 6:25am Jan 17, 2020 6:25am
How have you been using this period of market ambivalence to improve on your trading? I hope you do less trading and take more time to improve your skills, mindset or strategy/system.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #351
  • Jan 17, 2020 6:38am Jan 17, 2020 6:38am
Personally, I have been off trading for a while. I am using this period in two main ways: 1. To add flexibility to my trading; in the sense of making my intra-day trading approach integrated with my swing trading system. 2. To track the pairs on my watch list in order to see which to keep and which new ones to incorporate so that I still maintain a manageable number of pairs on the list.

KP

Quoting KeenPips
How have you been using this period of market ambivalence to improve on your trading?...
Do your homework, follow the footprints of smart money
  • #352
  • Jan 21, 2020 2:27am Jan 21, 2020 2:27am
Just sharing

Rather than piling more indicators on your charts, spend more time to learn and master structure-based price action trading. It will add simplicity, efficiency and better results to your trading.

KP
Do your homework, follow the footprints of smart money
  • #353
  • Jan 21, 2020 3:34am Jan 21, 2020 3:34am
If you are struggling on how to reduce the indicators on your charts, you may find the below video helpful. Please note that, as always, I have no financial interest in the presenter neither am I setting him up as a 'guru' to follow.

Trade safe and prosper.

KP

Inserted Video



Quoting KeenPips
Just sharing Rather than piling more indicators on your charts, spend more time to learn and master structure-based price action trading. It will add simplicity, efficiency and better results to your trading. KP
Do your homework, follow the footprints of smart money
  • #354
  • Jan 21, 2020 8:34pm Jan 21, 2020 8:34pm
Quoting KeenPips
Just sharing Rather than piling more indicators on your charts, spend more time to learn and master structure-based price action trading. It will add simplicity, efficiency and better results to your trading. KP
agree with this buddy..
just make them simple and easy
just for a cup of coffee...
  • #355
  • Jan 22, 2020 1:08am Jan 22, 2020 1:08am
Hi, mate! Yes, that's important. It brings clarity, focus, efficiency; the trader can focus on the more important issue of price action in a more direct manner.

Trade safe mate.

KP

Quoting akim0895
{quote} agree with this buddy.. just make them simple and easy
Do your homework, follow the footprints of smart money
  • #356
  • Jan 22, 2020 4:36pm Jan 22, 2020 4:36pm
Quoting KeenPips
Personally, I have been off trading for a while. I am using this period in two main ways: 1. To add flexibility to my trading; in the sense of making my intra-day trading approach integrated with my swing trading system. 2. To track the pairs on my watch list in order to see which to keep and which new ones to incorporate so that I still maintain a manageable number of pairs on the list. KP {quote}
What steps do you take to test and ensure the pair works for your strategy before adding a new currency pair to your watchlist.
Always ontop
  • #357
  • Jan 22, 2020 5:01pm Jan 22, 2020 5:01pm
I have a system to screen potential pairs. I will not provide details on a public forum. But one of the criteria in the system is consistency of the price action of a pair to respect technicals e.g. S/R, trendlines and mean reversion principle.

KP

Quoting AlphaBase
{quote} What steps do you take to test and ensure the pair works for your strategy before adding a new currency pair to your watchlist.
Do your homework, follow the footprints of smart money
  • #358
  • Jan 26, 2020 2:29am Jan 26, 2020 2:29am
This resonated with me.

Without a doubt, trading lures you in with easy money, but in fact it's the hardest money you can ever make, period.

The only fact that you have to basically reverse your very nature is already too demanding for 99.9% of people.
  • #359
  • Jan 26, 2020 10:48am Jan 26, 2020 10:48am
A major challenge is to be different from the crowd, the '99.9% of the people' you alluded to. Although we don't really have the exact statistics, surely the majority of us retail traders are losers. How can you differentiate yourself from the crowd? That is a challenge any of us serious with Forex trading business has to personally address.

Trade safe.

KP

Quoting Lavkasov
This resonated with me. Without a doubt, trading lures you in with easy money, but in fact it's the hardest money you can ever make, period. The only fact that you have to basically reverse your very nature is already too demanding for 99.9% of people.
Do your homework, follow the footprints of smart money
  • #360
  • Edited 11:34am Jan 26, 2020 11:10am | Edited 11:34am
One way of differentiating yourself, among other things - which largely should be personal and kept confidential, I believe - is using indicators differently from the crowd. Just use them with some twist or tweak, or in a special combination with price action.

KP

Quoting KeenPips
A major challenge is to be different from the crowd...How can you differentiate yourself from the crowd?...{quote}
Do your homework, follow the footprints of smart money
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