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  • #1,195,461
  • Jun 7, 2021 1:56pm Jun 7, 2021 1:56pm
Quoting fxpipper
In my experience the more you wait for confirmation the more you sacrifice your R:R.
That is true. And that is why it should be limited. If you wait for the confirmation of the confirmation of the confirmation, then you miss the trade. The confirmation I am referring to is a simple rule or two for entry as defined by your own strategy. You decide what that is. And you test it to see if it works, making improvements along the way where needed.
Learn from your mistakes and march on.
  • #1,195,462
  • Jun 7, 2021 2:08pm Jun 7, 2021 2:08pm
Quoting MrBullBear
{quote} Ok, you wait for confirmation and hope to win in every confirmed market situation. (Lack discipline, all over the place, never reach full potential with that minset.) Hahaha... same here2there I know since 2 years ago. You really have a problem analyzing the situation. You can't figure which is giving bad criticism and giving 2 cents.
There is a reason why the majority of retail traders lose in the Forex market. It's because they lack discipline. They lack discipline mostly because they are lazy and unteachable.
Learn from your mistakes and march on.
  • #1,195,463
  • Jun 7, 2021 2:24pm Jun 7, 2021 2:24pm
Quoting here2there
{quote} There is a reason why the majority of retail traders lose in the Forex market. It's because they lack discipline. They lack discipline mostly because they are lazy and unteachable.
I agree with you on this one.
Only an idiot knows with certainty to where the market is going.
  • #1,195,464
  • Jun 7, 2021 2:57pm Jun 7, 2021 2:57pm
Quoting here2there
{quote} That is true. And that is why it should be limited. If you wait for the confirmation of the confirmation of the confirmation, then you miss the trade. The confirmation I am referring to is a simple rule or two for entry as defined by your own strategy. You decide what that is. And you test it to see if it works, making improvements along the way where needed.
You should do that when in development of your strategy, not wait until your trading $$$.
MY GRID. Markets are NOT random.
  • #1,195,465
  • Edited 3:29pm Jun 7, 2021 3:15pm | Edited 3:29pm
Quoting tonyb123
{quote} You should do that when in development of your strategy, not wait until your trading $$$.
Indeed, improvement involves practice. But development of a winning strategy could take a long time. Sometimes years. Waiting years to develop a winning strategy before using real money is unacceptable to me. There is no such thing as a perfect strategy. But there are winning strategies.

If you don't have a large account and you are concerned about losing money, then don't trade like you have a large account. Limit your risk while you are learning to better yourself as a trader.

If you aren't willing to take risks, then trading is not for you.
Learn from your mistakes and march on.
  • #1,195,466
  • Jun 7, 2021 4:53pm Jun 7, 2021 4:53pm
Quoting here2there
{quote} Indeed, improvement involves practice. But development of a winning strategy could take a long time. Sometimes years. Waiting years to develop a winning strategy before using real money is unacceptable to me. There is no such thing as a perfect strategy. But there are winning strategies. If you don't have a large account and you are concerned about losing money, then don't trade like you have a large account. Limit your risk while you are learning to better yourself as a trader. If you aren't willing to take risks, then trading is not for...
I am not new to trading and I have a winning system, not strategy.
MY GRID. Markets are NOT random.
  • #1,195,467
  • Jun 7, 2021 5:02pm Jun 7, 2021 5:02pm
Quoting tonyb123
{quote} I am not new to trading and I have a winning system, not strategy.
Good for you.

By the way, the idea of a 'winning system' is synonymous with the idea of a 'winning strategy'. Let's not waste time arguing over semantics!
Learn from your mistakes and march on.
  • #1,195,468
  • Jun 7, 2021 6:41pm Jun 7, 2021 6:41pm
Quoting here2there
{quote} Good for you. By the way, the idea of a 'winning system' is synonymous with the idea of a 'winning strategy'. Let's not waste time arguing over semantics!
By the way, system and strategy are synonymous, but they are not the same.

To be clear, I have a problem with this:

If you aren't willing to take risks, then trading is not for you.

Who are you to make such a statement to me? You know me? You know how much I risk? No, you don't.

And just because it took you "years" to develop a strategy, doesn't mean it takes everyone else the same time.

Mr BullBear said it best:

You really have a problem analyzing the situation. You can't figure which is giving bad criticism and giving 2 cents.
MY GRID. Markets are NOT random.
  • #1,195,469
  • Jun 7, 2021 6:57pm Jun 7, 2021 6:57pm
You guys all have good points. I can't see an absolute right & wrong side here. That's definitely a helpful argument.

I agree that there's no overbought, oversold and i will give that to @MrBullBear.

But there's also psychological side of trading. Our "confirmations" and "set ups" may or may not be on point but we have to be confident and comfortable with our trades right? So confirmations help that. A set of rules, rituals can relieve some pressure & stress. For example if i think there's going to be a trend reversal i always wait for price to work in my way first. Then i jump in. I sacrifice 50-100 pips on the way but i don't want to be the one that's trying to catch the knife. I leave it to the big bros. Maybe it's not necessary for me to do that, but it helps me feeling more comfortable. I can't deny the effect it has on me. So @here2there is also right.

Like i said i sacrifice 50-100 pips on the way, so @fxpipper is also right. Waiting for that confirmation comes with some sacrifices.

Also even though @tonyb123 is theoretically right, -cause we shouldn't take unnecessary risks- trading with real money is definitely a different thing compared to demo. Demo helps a lot, but you really face the difficulties such as discipline, patience etc. while trading real money. You never live anxiety in demo. So you are logically right, but practically it's hard to learn these things without risking some money.
You have to have an IQ higher than 90 to interact with this user.
  • #1,195,470
  • Jun 7, 2021 7:06pm Jun 7, 2021 7:06pm
Quoting Nordling00
You guys all have good points. I can't see an absolute right & wrong side here. That's definitely a helpful argument. I agree that there's no overbought, oversold and i will give that to @MrBullBear. But there's also psychological side of trading. Our "confirmations" and "set ups" may or may not be on point but we have to be confident and comfortable with our trades right? So confirmations help that. A set of rules, rituals can relieve some pressure & stress. For example if i think there's going to be a trend reversal i always wait for price to...
Well said Nordling!

I come to FF to help me learn, get ideas of what I may be doing right and definitely what I'm doing wrong. It seems as if there are a lot of egos here and every other day ppl get in to pissing matches. WTF, I mean if you live life with your feelings on your sleeve then maybe public forums aren't for you, generally speaking!! I'm here for help not to watch petty disagreements.
  • #1,195,471
  • Jun 7, 2021 7:23pm Jun 7, 2021 7:23pm
Quoting sixconrads
{quote} Well said Nordling! I come to FF to help me learn, get ideas of what I may be doing right and definitely what I'm doing wrong. It seems as if there are a lot of egos here and every other day ppl get in to pissing matches. WTF, I mean if you live life with your feelings on your sleeve then maybe public forums aren't for you, generally speaking!! I'm here for help not to watch petty disagreements.
I am here for a while now, and i know all of these guys in this argument are good traders. I have seen some of their trading ideas, other arguments and they are all logical people. Tension may get high sometimes, but this was another helpful argument. I like it when everybody came with their own logical reasons, and these guys did that. They all pointed out good stuff.

Healthy amount of ego is okay i think, we trade in the wildest market after all We are able to survive because we are wild too haha These men didn't really talk egoistic so it's fine. Disagreements and critics are essential for developing.
You have to have an IQ higher than 90 to interact with this user.
  • #1,195,472
  • Jun 7, 2021 7:28pm Jun 7, 2021 7:28pm
Quoting Nordling00
{quote} I am here for a while now, and i know all of these guys in this argument are good traders. I have seen some of their trading ideas, other arguments and they are all logical people. Tension may get high sometimes, but this was another helpful argument. I like it when everybody came with their own logical reasons, and these guys did that. They all pointed out good stuff. Healthy amount of ego is okay i think, we trade in the wildest market after all We are able to survive because we are wild too haha These men didn't really talk...
Well, if I misunderstood I apologize. Like I said before I'm new here and I'll defer to the ones who've been here awhile. I am here to learn and hopefully I can. Thanks
  • #1,195,473
  • Jun 7, 2021 7:34pm Jun 7, 2021 7:34pm
Quoting sixconrads
{quote} Well, if I misunderstood I apologize. Like I said before I'm new here and I'll defer to the ones who've been here awhile. I am here to learn and hopefully I can. Thanks
It's okay i get your point bro. Well there's also tons of useless arguments in this forum, you are right. "Cable Update" thread is full of great examples of silly arguments I guess it comes with being a little "society" here
You have to have an IQ higher than 90 to interact with this user.
  • #1,195,474
  • Jun 7, 2021 7:45pm Jun 7, 2021 7:45pm
Quoting tonyb123
{quote} By the way, system and strategy are synonymous, but they are not the same. To be clear, I have a problem with this: If you aren't willing to take risks, then trading is not for you. Who are you to make such a statement to me? You know me? You know how much I risk? No, you don't. And just because it took you "years" to develop a strategy, doesn't mean it takes everyone else the same time. Mr BullBear said it best: You really have a problem analyzing the situation. You can't figure which is giving bad criticism and giving 2 cents.
When I was talking about taking risks, I was not intending for you to take it personally. I was not making any judgment against you. I was just throwing that point out there, as others who may read the comment might find the thought beneficial.

Your attitude is the real problem here. Welcome to my ignore list.
Learn from your mistakes and march on.
  • #1,195,475
  • Jun 7, 2021 7:52pm Jun 7, 2021 7:52pm
Quoting Nordling00
You guys all have good points. I can't see an absolute right & wrong side here. That's definitely a helpful argument. I agree that there's no overbought, oversold and i will give that to @MrBullBear. But there's also psychological side of trading. Our "confirmations" and "set ups" may or may not be on point but we have to be confident and comfortable with our trades right? So confirmations help that. A set of rules, rituals can relieve some pressure & stress. For example if i think there's going to be a trend reversal i always wait for price to...
Great post Nordling! I was not disagreeing with @here2there, I was just adding that there was a proper time to learn something like $ management. It is easier to learn something new, rather than unlearning bad habits. And I personally do not recommend a demo at all, for the reasons you already mentioned.
It is better to start with the lowest lot your broker allows. That way you have some skin in the game and at least a little fear of losing $.
As far as the back and forth, I believe there is no reason for any snide remarks from anyone no matter who and I apologize to all for my part in the disturbance.
MY GRID. Markets are NOT random.
  • #1,195,476
  • Jun 7, 2021 7:52pm Jun 7, 2021 7:52pm
Quoting sixconrads
{quote} Well, if I misunderstood I apologize...
No need to apologize. I have been here long enough to know there are some problematic people in here. Some of these people have been at my throat from the start.
Learn from your mistakes and march on.
  • #1,195,477
  • Jun 7, 2021 8:13pm Jun 7, 2021 8:13pm
Quoting here2there
{quote} When I was talking about taking risks, I was not intending for you to take it personally. I was not making any judgment against you. I was just throwing that point out there, as others who may read the comment might find the thought beneficial. Your attitude is the real problem here. Welcome to my ignore list.
I am not the only person who has commented on your attitude/responses, as I noted in my reply.


{quote} Well, if I misunderstood I apologize...
No need to apologize. I have been here long enough to know there are some problematic people in here. Some of these people have been at my throat from the start.

I have been on this forum since 2009 and Im here causing problems? That's laughable!
MY GRID. Markets are NOT random.
  • #1,195,478
  • Jun 7, 2021 8:24pm Jun 7, 2021 8:24pm
Same as in trading...Attachment gsometimes you need to unlearn some in order to learn some. The hardest is, to unlearn. Because you believe so much on that what you learned is the right one. Ask yourself, are you a consistent winner? Then shut the fuck up, roll up your sleeves and relearn.
Only an idiot knows with certainty to where the market is going.
  • #1,195,479
  • Jun 7, 2021 8:38pm Jun 7, 2021 8:38pm
Quoting MrBullBear
Same as in trading...3958714sometimes you need to unlearn some in order to learn some. The hardest is, to unlearn. Because you believe so much on that what you learned is the right one. Ask yourself, are you a consistent winner? Then shut the fuck up, roll up your sleeves and relearn.
I clicked on the attachment and it took me to a attachment not found page.
  • #1,195,480
  • Jun 7, 2021 9:44pm Jun 7, 2021 9:44pm
Quoting sixconrads
{quote} I clicked on the attachment and it took me to a attachment not found page.
Attached Image (click to enlarge)
Click to Enlarge Name: FB_IMG_1596226715418.jpg Size: 85 KB
Only an idiot knows with certainty to where the market is going.
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