Stop searching for the 'Holy Grail', work on yourself! | Page 36 | 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!

  • #701
  • Apr 1, 2021 12:08am Apr 1, 2021 12:08am
What is boring? Are you trading for thrills or fun? Master one or two functional, efficient trading strategies that fit your personality and how you trade if you want to enjoy what consistent Forex trading success could bring.

KP

Quoting kCBHk
{quote} But but but it's boring!
Do your homework, follow the footprints of smart money
  • #702
  • Apr 1, 2021 12:09am Apr 1, 2021 12:09am
Quoting KeenPips
What is boring? Are you trading for thrills or fun? Master one or two functional, efficient trading strategies that fit your personality and how you trade if you want to enjoy what consistent Forex trading success could bring. KP {quote}
I was being sardonic, my friend.

I agree with what you said.
  • #703
  • Apr 1, 2021 12:15am Apr 1, 2021 12:15am
It's better you be clear and not confuse less knowledgeable members but help fellow traders. It doesn't matter whether or not you agree with me though,. We should aim at being valuable members of FF.

KP

Quoting kCBHk
{quote} I was being sardonic, my friend. I agree with what you said.
Do your homework, follow the footprints of smart money
  • #704
  • Apr 1, 2021 12:22am Apr 1, 2021 12:22am
Quoting KeenPips
It's better you be clear and not confuse less knowledgeable members but help fellow traders. It doesn't matter whether or not you agree with me though,. We should aim at being valuable members of FF. KP {quote}
Well Said.
  • #705
  • Apr 6, 2021 9:36am Apr 6, 2021 9:36am
Would you consider these as two of the most important tools in your trading arsenal: patience and self-discipline?

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #706
  • Apr 7, 2021 4:38am Apr 7, 2021 4:38am
Here's is video on structure-based price action trading you may find useful. As always I have no financial interest i the presenter neither am I holding him up as a 'guru' to follow.

Trade safe and prosper.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #707
  • Apr 14, 2021 5:26am Apr 14, 2021 5:26am
I would like to add my two cents to this thread which is to keep things simple, markets will either go up, down or sideways and you will profit from these movements by either trading a breakout or range strategy, now there often may be crossovers but more or less your strategy will fit within aforementioned categories.

Choose one style, keep it simple so you can optimise it and keep repeating this process and you should 'technically' be fine

Good luck
  • #708
  • Apr 14, 2021 5:54am Apr 14, 2021 5:54am
Good point there, mate. I will add that choosing a style or strategy that fits your personality is indeed part of the issue a trader has to resolve early in this business; that is a beginning part of keeping things simple imo.

KP

Quoting mikforfac
......keep things simple, markets will either go up, down or sideways and you will profit from these movements by either trading a breakout or range strategy....Choose one style, keep it simple so you can optimise it and keep repeating this process and you should 'technically' be fine Good luck
Do your homework, follow the footprints of smart money
  • #709
  • Apr 14, 2021 8:35am Apr 14, 2021 8:35am
Quoting KeenPips
Would you consider these as two of the most important tools in your trading arsenal: patience and self-discipline? Trade safe and prosper. KP
Great thread. An often overlooked aspect of trading is the mental aspect. Extreme patience and self-discipline (emotional discipline) are essential to trade success.
  • #710
  • Apr 14, 2021 2:28pm Apr 14, 2021 2:28pm
Thanks mate for your kind sentiment. Talking about patience, the patience I had to learn, you may say the hard way, after the losses I made in the first three years of getting into the Forex trading business has greatly shaped my subsequent outcomes in the business. Of course, we cannot discount the importance of focused self-discipline.

KP

Quoting forexnetworth
{quote} Great thread. An often overlooked aspect of trading is the mental aspect. Extreme patience and self-discipline (emotional discipline) are essential to trade success.
Do your homework, follow the footprints of smart money
  • #711
  • Apr 14, 2021 2:34pm Apr 14, 2021 2:34pm
Do you want to catch a fish? Stop exercising and look for the best fishing spots. All you need is correct mindset!
Observer effect
  • #712
  • Edited 2:14am Apr 21, 2021 1:48am | Edited 2:14am
Just Musing

Do yo have rules that guide your trading? You need to set specific rules that guide what setups you will consider, your entry and exit rules and your trade management rules, among others. These should be rules you have tested over time and decided on which make you comfortable as a trader.

KP
Do your homework, follow the footprints of smart money
  • #713
  • Apr 21, 2021 2:13am Apr 21, 2021 2:13am
Hi Keen,
as always great advice and great thread,
personally, I have found that the best rules are the most "flexible",
perhaps those that provide information,
but do not provide decision

regards
Newbie trader
  • #714
  • Apr 21, 2021 2:21am Apr 21, 2021 2:21am
Thanks @fex for your kind sentiment. Regarding flexibility, I'm for it but not to the level of being flimsy or careless. My reasoning will be this: Once you set such rules, stick with them except trading conditions or circumstances obviate any of the rules.

Stay safe, trade safe.

KP

Quoting fex
Hi Keen, as always great advice and great thread, personally, I have found that the best rules are the most "flexible", perhaps those that provide information, but do not provide decision regards
Do your homework, follow the footprints of smart money
  • #715
  • Apr 22, 2021 3:35pm Apr 22, 2021 3:35pm
Do your indicators complement each other or are they creating indecision or confusion for you? If they are not complementing each other for quality trading decisions, rethink or tweak them.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #716
  • Apr 28, 2021 8:06am Apr 28, 2021 8:06am
Just sharing

You would save yourself much frustration and anxiety if you have, and are using, a system that helps you know when to stay out of the market; when to stay on the sidelines and await the most feasible market condition, time or setup for your trading style.

KP
Do your homework, follow the footprints of smart money
  • #717
  • Apr 28, 2021 8:14pm Apr 28, 2021 8:14pm
I have been trading for a few years now. Like most have blown accounts because of being impatient and greed. It's hard when all of sudden you are making over $2000 a day then keep losing it when you still have no control.......over trading, revenge trading , using huge lot sizes and feel your doing just Awesome!!!!

 

  1. I now just trade 1 Pair US30 Index
  2. Compound My Account Daily
  3. Have a Daily Goal of what I what to accomplish
  4. I trade close of London and NY open
  5. Use the 50 MA
  6. trade High Volume Engulfing Candles


Holy Grail or Holy Fail ? every trader's mindset is different

.....as always demo demo and demo some more

tabiuslee
(scalper)

  • #718
  • Apr 29, 2021 12:28am Apr 29, 2021 12:28am
Welcome to FF! I can relate with your story of blowing accounts, particularly when I started FX trading some years back. Nice post by the way, lol.

KP

Quoting tabiuslee
I have been trading for a few years now. Like most have blown accounts because of being impatient and greed. It's hard when all of sudden you are making over $2000 a day then keep losing it when you still have no control.......over trading, revenge trading , using huge lot sizes and feel your doing just Awesome!!!!...
Do your homework, follow the footprints of smart money
  • #719
  • May 5, 2021 5:35am May 5, 2021 5:35am
Just musing

If your short-term (i.e. momentum) factors are not in alignment with your market trend (usually based on a higher tf than your set-up or trade entry tf) wait for the alignment. Of course, unless you are a scalper looking for a few pips but, then, don't linger on the trade.

KP
Do your homework, follow the footprints of smart money
  • #720
  • Edited 8:05am May 5, 2021 6:25am | Edited 8:05am
Just a few hours ago, I had a casual scan on a thread and came across a post recommending that a trader uses only one time frame to trade, even if it's a low time frame. In fact, it was emphasized that using more than one tf is a recipe for failure. What do you think about this recommendation? For me, such a recommendation is purely shallow thinking. You may rely on one tf if you are a scalper. But if you are a swing trader, in the sense of keeping your trades open for longer than one day, you will need to approach things differently, particularly if you adopt a 'set-and-forget' approach. Definitely you wouldn't be thinking of using a low tf. In fact, if you are interested in a robust R:R you wouldn't be trading based on one tf, particularly a low tf.

Stay safe, trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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