Stop searching for the 'Holy Grail', work on yourself! | Page 23 | Forex Factory

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

  • #441
  • Apr 17, 2020 5:48am Apr 17, 2020 5:48am
Quoting KeenPips
Hi, bud! How are you doing? I hope your 'holy grail' is working for you. Lol Trade safe. KP {quote}
i’m doing great bud..
thanks ..
just for a cup of coffee...
  • #442
  • Apr 17, 2020 5:53am Apr 17, 2020 5:53am
Keep rolling the buck into your pockets from your cable trades.

Keep safe, trade safe.

KP

Quoting akim0895
{quote} i’m doing great bud.. thanks ..
Do your homework, follow the footprints of smart money
  • #443
  • Apr 17, 2020 5:55am Apr 17, 2020 5:55am
I know mate.

Trade safe and keep growing your trading capital.


KP

Quoting akim0895
{quote}...just joking buddy..
Do your homework, follow the footprints of smart money
  • #444
  • Apr 17, 2020 8:00am Apr 17, 2020 8:00am
Just Sharing

If you are an intra-day trader, start each day looking for a market or pair that moves. Particularly, look for strong moves.

KP
Do your homework, follow the footprints of smart money
  • #445
  • Apr 20, 2020 12:29am Apr 20, 2020 12:29am
Just Sharing

If you are a profitable trader, keep learning and improving. Rub minds and share ideas with other profitable traders. Remember, past performance doesn't guarantee future success.

KP
Do your homework, follow the footprints of smart money
  • #446
  • Apr 20, 2020 7:51am Apr 20, 2020 7:51am
You can learn about a realistic Forex trading journey from the video below. As usual, I have no financial interest in the presenter neither am I setting him up as a 'guru' to follow.

Stay safe, trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #447
  • Apr 20, 2020 8:49am Apr 20, 2020 8:49am
You don't have to pay for expensive courses or put the money you need trading the market to pay for any trading course. Just focus on mastering the markets and learn from free resources the aspects you are weak in. More importantly, have a simple, realistic objective plan on trading success: #1 goal is capital protection; #2 goal is grow your trading account gradually, #3 goal is develop your trading skills and mindset as you gain experience, including staying humble and patient.

Stay safe, trade safe and prosper

KP

Quoting KeenPips
You can learn about a realistic Forex trading journey from the video below. As usual, I have no financial interest in the presenter neither am I setting him up as a 'guru' to follow. Stay safe, trade safe. KP https://www.youtube.com/watch?v=AczIQSJVF8s
Do your homework, follow the footprints of smart money
  • #448
  • Apr 23, 2020 12:42pm Apr 23, 2020 12:42pm
Like I mentioned in an earlier post, it is good to use this period to test and review the pairs on your watch list. This is one thing I have been doing since mid-February. I reviewed the pairs on my watch list, tracked the price action of each to see how they perform in the past few weeks and re-evaluated them on the basis of the criteria I use to decide which to retain. This may be a beneficial exercise if you have more than three pairs on your watch list or if you are a swing trader who likes to keep your positions open for more than one day; for me it may be for a few weeks.

Stay safe, trade safe.

KP
Do your homework, follow the footprints of smart money
  • #449
  • Apr 29, 2020 4:35pm Apr 29, 2020 4:35pm
Just musing aloud....What improvement have you made towards trading efficiency, performance and success since the onset of the COVID-19 induced market uncertainties and volatility?

KP
Do your homework, follow the footprints of smart money
  • #450
  • Apr 30, 2020 1:04am Apr 30, 2020 1:04am
Good question !
The main improvement I made, it is not to let the loss run.
I prefer to close a position as soon as scenario is invalidated even on short time frame .
In opposite I research to ride a trend and let it run .
In case of directional day, only one position will be a bingo but in case of very tigh ranging day, it will be a lot of position with small loss and small profit.
  • #451
  • Apr 30, 2020 2:55am Apr 30, 2020 2:55am
Quoting KeenPips
Just musing aloud....What improvement have you made towards trading efficiency, performance and success since the onset of the COVID-19 induced market uncertainties and volatility? KP
Good morning.
I have returned to trading after a 5 year or more absence. Stuck in the house I had to do something...!!
My improvement has been to look seriously at win rates and risk/reward ratios. The difference its made in fully understanding these is phenomenal.

To make a profit with a risk/reward of:

2:1 ..............you have to win 67% of your trades just to break even
1:1 ............. you have to win 50% of your trades just to break even
1:2 ............. you have to win 33% of your trades just to break even
1:3 ............. you have to win 25% of your trades just to break even

So, I might be a newby or I might not be as good a trader as I hoped to be. I do know I have a better chance of winning 1 trade in every 3 or 4 taken rather than winning 1 trade in every 2 or 2 trades in every 3.

I now make sure that every trade I take has a profit of at least twice the risk.

Its a simple and obvious part of trading that so few people look at. It does, however, make a huge difference to whether you are profitable or not.

Additionally, I also look to lose less trades. Its better to do this than look for extra trades to win..!!
  • #452
  • Apr 30, 2020 3:43am Apr 30, 2020 3:43am
Thank you mate and welcome back to Forex trading.

KP

Quoting sj9bp20
{quote} Good morning. I have returned to trading after a 5 year or more absence. Stuck in the house I had to do something...!! My improvement has been to look seriously at win rates and risk/reward ratios. The difference its made in fully understanding these is phenomenal. To make a profit with a risk/reward of: 2:1 ..............you have to win 67% of your trades just to break even 1:1 ............. you have to win 50% of your trades just to break even 1:2 ............. you have to win 33% of your trades just to break even 1:3 ............. you...
Do your homework, follow the footprints of smart money
  • #453
  • Apr 30, 2020 3:47am Apr 30, 2020 3:47am
100% agreed that we should aim for a solid reward-to-risk ratio. For my swing trading, which is about 80% of my trading, I look for at least 4Rs; for the rare day-trading, about 20%, I look for at least 2Rs.

Stay well, trade safe.

KP

Quoting sj9bp20
{quote} ...I do know I have a better chance of winning 1 trade in every 3 or 4 taken rather than winning 1 trade in every 2 or 2 trades in every 3. I now make sure that every trade I take has a profit of at least twice the risk. Its a simple and obvious part of trading that so few people look at. It does, however, make a huge difference to whether you are profitable or not...
Do your homework, follow the footprints of smart money
  • #454
  • Edited 7:10pm Apr 30, 2020 8:58am | Edited 7:10pm
One of the things I did by way of improvement was to assess and put the pairs on my watch list into two categories: (1) those better suited for swing trading and (2) those better suited for day trading.

KP

Quoting KeenPips
Just musing aloud....What improvement have you made towards trading efficiency, performance and success since the onset of the COVID-19 induced market uncertainties and volatility? KP
Do your homework, follow the footprints of smart money
  • #455
  • May 3, 2020 4:26pm May 3, 2020 4:26pm
How do you measure your success as a Forex trader? How you do this would influence the way you trade and the level of fulfillment you have in your trading career....Think!

KP
Do your homework, follow the footprints of smart money
  • #456
  • May 4, 2020 7:38am May 4, 2020 7:38am
A trader defines himself or herself by the way he or she measures success. What for you is success as a Forex trader?

KP

Quoting KeenPips
How do you measure your success as a Forex trader? How you do this would influence the way you trade and the level of fulfillment you have in your trading career....Think! KP
Do your homework, follow the footprints of smart money
  • #457
  • May 5, 2020 5:00am May 5, 2020 5:00am
For me, success as a Forex trader is making continuous and consistent progress in four key areas: 1. Protecting my trading account; 2. Improving in trading skills and mindset; 3. Growing my trading account based on short-, medium- and long-term RoI targets; and 4. Having a fulfilling lifestyle that promotes wholesomeness.

KP

Quoting KeenPips
A trader defines himself or herself by the way he or she measures success. What for you is success as a Forex trader? KP {quote}
Do your homework, follow the footprints of smart money
  • #458
  • May 5, 2020 5:04am May 5, 2020 5:04am
Quoting KeenPips
A trader defines himself or herself by the way he or she measures success. What for you is success as a Forex trader? KP {quote}
can’t stop making green pips every working day..
...
honestly..
i’m enjoy what i’m get from forex then shared to needed people out there..
just for a cup of coffee...
  • #459
  • May 5, 2020 5:12am May 5, 2020 5:12am
Very good mate. Making good money from Forex trading and sharing with the needy.

Stay safe, trade safe.

KP

Quoting akim0895
{quote} can’t stop making green pips every working day.. ... honestly.. i’m enjoy what i’m get from forex then shared to needed people out there..
Do your homework, follow the footprints of smart money
  • #460
  • May 6, 2020 2:28am May 6, 2020 2:28am
I use a so strategy, an indicator for which I can safely use the martingale system.
this is certainly unthinkable for many.
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