What have you learned?

How Does Consumer Confidence Affects The Economy And Forex Trading?https://watdouc.blogspot.com/2020/07...fects.html?m=1

Dont tell people your trading say your doing research about the markets as they will shoot you down and call it gambling and continue to hound you about your losses.

The only people to talk to about the markets are those who trade it daily.

One thing I've learned in trading in general is that consistency is required. If we had a loss today, not to think that you can't make it tomorrow. Thinking that you will start making profits overnight suddenly is very harmful. Practice and test.

The most important thing in the years I've been trading is to understand your sphere of understanding. Knowing this means you understand where you make money and where you lose money in the market, once you start to understand this it becomes easier to sit out moves that aren't clear to you or don't fit your system.

I learned that most traders as delusional in general, there is no "system" that work, neither money management. I hope many traders here educate themselves that they have almost no chance of winning as there is no system out there that works. It's crazy and sad to see how people are putting faith in trading but do not have even BASE of understanding how the market works

Some love posting live trades because they crave recognition from others. Others love reading live calls they can blindly follow..

--that the best style is no style and all styles
--plans are usually good up until the point the first bullet is fired or punch thrown
--almost all forex gurus are losing traders who teach rigid, generic losing strategies
--the best traders are usually on the way out right as the rest begin piling in
--hard stops and inflexible risk management are where the 1% make 90% of their profits
--retail traders actually have considerable advantages not privy to big players
--market inefficiencies still exist in droves literally at all times to the trained eye
--the market is a battlefield largely based around deception and psychological warfare yet most have no desire or knowledge to stand and fight
--market movement, like the weather is actually easier to predict in short term and the skills you develop while doing so allow you to apply them to higher timeframes to further increase holding confidence and overall accuracy
--there is almost always at least one factor or lack thereof on one of the timeframes that holds the key
--the "best" trading strategy cannot be coded
--many indicators are the holy grail when in the right hands and most importantly when the right one is used for the right situation

a. Discretionary Entries
b. Algorithmic Exits -- i.e. no Take Profit...

If a trade isn't going well, just close your eyes and it will vanish

Analyze the market. put the order , put SL & Tp Forget it!

I have learned that you need to find your own trading edge. No methods will work for you if you do not customize it according to your trading personality. You also needs to sharpen your instincts.

If your are not in the market with an active trade, you can never make any pips.

It's great to read about what everyone has learned throughout their trading journey. There are many truths spoken in this thread even with only 30 posts or so.

I learned that you are always a student in the markets. I also learned that there are so many ways of being profitable. There is no need to argue that your understanding of the market is the only way.

Trade what you see, not what you think - don't let your brain get in the way too much, it tends to mess it up.

Patience is the mother of all skills! If your setup is not there, do not take it... There is always another trade and they WILL come, just wait! A missed opportunity is much better than a forced losing trade.

Meditate and Exercise! A weak mind and body tend to make weak decisions.... Do not let the outside world disturb your trading, forget everything that is out there, shut out all the noise and all the problems... You must be a cold heartless motherfucker when it comes to trading

I learned that you must be a disciplined person aside having an edge.

1. Seek high Probabilities
2. Understand market Psychology(thanks to Mark Douglas {rip})
3. Less is more

I had learned that everyone has to go through the learning process before becoming a successful trader.

yes joll
it is my answer but i will add one word:
I had learned that everyone has to go through a concise learning process before becoming a successful trader.

many are learning in rong way
and most of them start first step with wrong learning decision.
first thing anybody must learn is YYYXXX=YYYDDD/XXXDDD

One of the behavior that I've learned: patience is the key to success in trading

For me , most imporatnt is maintaining discipline. For most of the times I've been penalized by this market, my emotions were the main reason for the loss. This is why, I make it a point to keep a control on my emotions now and stay disciplined while trading.