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No more BS - What have you learned? 814 replies

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What have you learned?

Quoting Macd-rsi
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
Besides learning the basics, I found an efficient learning approach is to pick a style to start with.

I chose to do Algo trading, so I learned programming on MT4/TradingView, statistics, maths and meanings of indicators.
TBH after 5 months, I wrote a few EAs and tested demo and live. I found that I do not have a good strategy to be fully automated, rather if traded manually the performance would be better.

But in this 5 months I learned a lot of skills.

I can prove a concept by statistics, write scripts to greatly shorten my backtesting time. With the skills I could quickly identify a few strategies that works okay for manual trading. So now I dive in to learn PA and psychology, while having some fairly performing strategies to keep my acc going and encourage me moving on.

Learning is a must. Learn hard can speed up. Learn smart can boost productivity
Quoting yanetjellen
--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...
Excellent view.
i learned a lot of things like:
eating unhealthy food.
going to drink after losing.
how get big belly.
how lose my hair.
how gamblers feeling.
how i lose money in several ways.
how to drink 50 cup of tea may price will go in my direction.
prayer doesn't work , God can't listen to buyers and sellers.
i still need to check if demon can go to spy on market maker may i going to ask Charlie if market will going up or down :") - Charlie Charlie are you here? .
https://en.wikipedia.org/wiki/Charlie_Charlie_challenge

but seriously only thing i learnt is trade small so you can survive and give you chance to fix things if your system not work or at least make below account process slow :")

don't take me serious :")
To not try to outsmart the markets
Tribute To My Chinese Buddy All Time Return: 19.0%
1. do not place big lots like moving 10 pips will get you 5% return. it's more like 20 pips for 1% return.
2. do not be obstinate in your analysis. have the guts to admit when you are wrong.
3. trend pullback, trend pullback, trend pullback until trend change in opposite direction. simply because if i have a bad entry, there is a good chance of getting BE or small profit.
Seeking out Orderliness amongst 'Market Randomness'
its a nice calculation you have done , thanks very much for your nice post . go so many fine lines
learned several basic principles
Don't go against the trend, because it will make you lose more than 50%. Pay attention to the problem of profit and loss (of course, it can't be done at present) and make your profit and loss as large as 2:1 or even 3:1. At present, you can only find the opportunity to do long-term to achieve high profit and loss, because the best high profit and loss is the middle line or long-term position, short-term optimistic position, but it is hard to say! There is also a certain amount of profit when the limit price stop loss on the break even
I learned that always put Reasonable stops and Tp...
GL..
Trade fearless not careless...
Easy Return This Year: na
I never thought I would trade in forex, when I started it was abit difficult but then with times I grew learnt from mistake and noted good points. Confidence is built up now. Also thanks to my broker for this LMFX.
For me, the most important thing that i learnt is that nothing in life can be achieved without hard work and forex is not a get rich quick thing at all as most think.
Quoting joyny
Learned that overtrading is relevant to EAs too. When backtest 10 years history then forwardtest I learned that best performing (and stable) EAs setups are those which have about 20-40 deals per year.
20-40 deals per year..
sounds about right (not sarcasm, it's genuine)
Let ur winners run & cut ur losses short.
i learnt that diversification will save you a lot of moneyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy
Let ur winners run & cut ur losses short.
As a trader I have learned to balance my emotions with trading forex. Its very important to be mentally and emotionally fit if you want to go long run in forex market.
Well I come back to this placeholder and find it three pages deep. Not sure how I feel about that.

I have learned upon my return is that most are still trying to build their personal online trading academy. This give traders a bad rap generally, but I know it will not change. I guess I will post cryptic charts here and the experienced will see my simple strategy. The rest, well, we will see what is next. There are no secrets and no edges. This thread will remain open, post whatever you like. I repeat, this will be random. It is not a system thread as much as philosophy thread.
If you are good at something, never do it for free--Joker
Trade with a buddy -- two heads are better than one...
Trade like the Market Makers......................
Follow the Money
1) forex IS get rich quick if you want it to be
2) it's all about math
3) indicators cant predict shit
4) Price will predict where the indicators go
5) stop losses are the biggest con job ever
6) If you can't trade - teach the same junk everyone else does.
7) you cant be a trader with a few hundred dollars to you name
8) the 2% risk rule is tosh
9) There isnt a single decent trading room anywhere that isnt full of idiots
10) I do lists that are too long.
Quoting robots4me
Trade with a buddy -- two heads are better than one...
Surely communities are importtant
Let ur winners run & cut ur losses short.
Quoting jmn5611
What have you learned?
1. Do not trade TFs higher 1m
2. Do not trade manually
3. Do not try to act like a robot, automate everything
4. Get one strategy and try to become a master of that strategy
5. Do not stuck on 1 pair/direction
6. Do not believe in trading fairy tales (that you can find good EA for free, that you can purchase good EA, that you can find working strategy on forum, that you have to use stop losses, RRR etc, that there are 20 years experienced trading guru on forum that suddenly wanted to share his holy grail strategy with community).
7. Do not believe in magic, study math.
8. Trend is not your friend.


Quoting jmn5611
One thing that I have learned is that brokers want you to trade as often as possible, as large as possible.
p.s. There is no logic in your words. Broker has a commission and limits for lots and open orders. If there will be less commission if bigger lot size then ok. But it is not. So it is your/our decision to trade more/less.
Observer effect
Quoting ryuryu
Broker has a commission and limits for lots and open orders. If there will be less commission if bigger lot size then ok. But it is not. So it is your/our decision to trade more/less.
This is true if you are trading large accounts. For accounts your size, they will simply trade against you with the understanding that swap(time decay) and your inability to make money consistently will lead to profits on their end. The more you trade, the more they make with either commissions or order flow rebate.
If you are good at something, never do it for free--Joker
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