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No more BS - What have you learned? 814 replies

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What have you learned?

I learned that trading is the best job in the world (In my opinion); and consistency is the key to become a profitable trader
My entire life in one sentence: it didn't go as planned, and that's ok.
Random Scalper All Time Return: 299.3%
Quoting jmn5611
This thread will not be consistently monitored. It will not reveal any system. Any system with some logic will work OVER TIME. I will try to check in every day. I would like to thank the PM's that I got while I was on hiatus. It is also good to see many of the same faces. So, I will ask the question, and anyone can answer it. No experience needed. What have you learned? I will go first. One thing that I have learned is that brokers want you to trade as often as possible, as large as possible.

Same as Real Estate folk.
That a win is a win ..
Hi
5 years of forex trading experience I've learned alot like;

.Trading is just a probability game and not a prediction game.
It's impossible to catch all the excellent trade opportunities every time.
.Avoid trading when you see a significant drawdown or when you get a few successive failed trades.
.When you think you know everything in the market, the next day you lose big money.
.If you lose money on any trade, then you have make a mistake. There is a lesson to learn (no matter what).
.Your aim should be to make money in the market every day, and not on other tasks like to get appreciation from others, to get more followers, etc.
.There is no need to argue with anyone for any reason. You are right if you are making money in the market.
.Profits in trading is inversely proportional to your ego.
.Learn how to ride your profits. This is the most challenging task in trading.
I hope this helps!!!
Thomas Return Today: na
I have learned as a baby trader that I have a lot to work on in myself, trading is a way to see into some of the deepest most hidden parts of yourself. A lot of these things I don't want to face or secretly sabotage me and they are shown on with a spotlight. For example I have a tendency to be reckless and self destructive, so one of the common problems I have is rushing an entry because I was bored of sitting around and it usually does me no favors. It is pretty cool how we learn about ourselves through something like this. Especially trying to do it full time.
1. Win-Rate and Risk-Reward are designed for machines, not for human.
2. You are not a machine, so don't trade any fixed setup or system.
3. Trade the market, analyze the order flow and pull the trigger with confidence.
4. Those who only trade higher timeframes(1h/4h/1D...) and consider lower timeframes(1m/5m/15m...) as noises cannot trade. Leave them alone.

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Discretionary Quantitative Trader
Keep it simple
master a one strategy, and try to apply other methods you come across
then try to get new methods from those strategies, and input them to you main strategy

after all, as long as you keep your greedy mind out from the market , you will be just fine.
so, just have a plan for a consistent improving, have a compound plan ..
cheers !!
Im also learning that for intraday trading just stick to the us majors during the NYC/EUR overlap and for minors and everything else swing trade. you want the most liquidity when intraday trading breakouts of momentum bursts so trading a minor doesnt pan out as much but swing trades might work out better for those wanting to trade minors
I have learned that trading what I think will happen next and thinking about the long term goal is what is giving me confidence to keep going.
A trade should be based on an assumption based on facts
There is a guy that I watch make lots of money every day. One fine day he decided he was going to have a seminar that has an admission fee. Some one help me understand why a successful trader would want to start selling courses?
If you are good at something, never do it for free--Joker
Great question! In my 5-6 months of trading, first thing I learned is that that all the books and articles are correct : psychology is essential to learning this skill. But the educational sites don't really elaborate on what that means. I've never lost any capital, even in the beginning, but I was stressing out massively under pressure trying to maintain it. I learned specifically that psychology matters when I am deep in a drawdown period for a mid-term/long-term idea. Good psychology means having faith in my analysis and not closing that trade, it means remaining calm enough to act in case something wrong (or right) happens. Good psychology also means knowing my risk appetite, my emotional limits, and having the sensibility to keep my analyses unbiased.
Trying my best.
  • Post #192
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  • Edited Mar 6, 2022 2:44am Mar 5, 2022 12:53pm | Edited Mar 6, 2022 2:44am
Quoting Esquerrao
I have learnt that trading with high-risk and high-profit investment methods,transaction failture will be inveitable , it also an improtant way for traders to gradually learn lessons and accumulate experience. there should be no desire for quick success in trading. you should not enter the market according to their own subjective wishes. Strictly separate your emotions from your trading activities,so as not to take heavier risks because the market trend is contrary to your personal wishes.


what is high risk and what is low risk ?


low risk is often associated with diversification... they advise to diversify as much as you can...

to me , there's no such thing as "low risk"... but diversification lowers risk statistically, so why not diversifiying ?

buying a few stocks is not diversification lol
Your win percentage will determine if the Risk:reward ratio you're implementing is correct. i.e. you cant have a 1:1 if you win rate is below X percent

Forex trading isn't exactly about making money its about not losing the money you already made

anybody can learn to hit buy and sell, but how you manage risk is what will determine your success

you cannot escape this. no matter what you believe
Don't use leverage.
Follow the market
The market will teach us a lot, and all we need is to keep a good mindset
It's easier to make a living playing blackjack or poker than it is from FX trading.
risk reward ratio is the key of success (king )
strategy accuracy is also very very important
just foucs of your strategy which u loves and try to make it bluteproof
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Just about any reasonable trading plan will work if you trade with the trend. Identifying and exploiting trends is a major key.
Where do you guys learn trading? Ned to go trading school or take courses? Planning to take courses from Online Trading Academy which seems to be around for more than 20 years but their courses are expensive. I wonder did any of you been there? Still in dilemma whether to proceed or not.
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