Stop searching for the 'Holy Grail', work on yourself! | Page 40 | 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!

  • #781
  • Nov 19, 2021 1:26am Nov 19, 2021 1:26am
Just Musing

Continuous growth in your trading knowledge and skills matters. In particular, keep abreast of new insight on trading knowledge.

KP
Do your homework, follow the footprints of smart money
  • #782
  • Edited 3:30pm Nov 20, 2021 10:04am | Edited 3:30pm
Definitely true that having a good trading system or strategy is only half the battle The problem is that price never moves in a straight line except perhaps in reaction to a news event and to trade that is always a lottery.
  • #783
  • Nov 20, 2021 2:42pm Nov 20, 2021 2:42pm
Good traders don't need to sweat over what price does. They focus on how to profit from what price does.

KP

Quoting Bizziebee
Definitely true that having a good trading system or strategy is only half the battle The problem in is that price never moves in a straight line except perhaps in reaction to a news event and to trade that is always a lottery.
Do your homework, follow the footprints of smart money
  • #784
  • Nov 20, 2021 3:42pm Nov 20, 2021 3:42pm
Quoting KeenPips
Good traders don't need to sweat over what price does. They focus on how to profit from what price does. KP {quote}
Ha ha that sounds so easy. Wish it was so easy!

Let me tell you what the holy grail is. It's not learning how to win. It's learning how to lose. It's cutting losing trades as fast as one possibly can. Not adding to it and making the loss even bigger, not hoping that it'll turn around. You're can only be a player if you're still in the game. On the flip side, most small traders are closing winning trades way too early. This leads to over trading and then the odds are stacked against you.
  • #785
  • Nov 22, 2021 8:01am Nov 22, 2021 8:01am
If you are a supply-and-demand trader, you may benefit from the video below. As usual, I have no financial interest in the presenter, neither do I hold him up as a 'guru' to follow.

Stay safe, trade safe.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #786
  • Dec 5, 2021 6:21am Dec 5, 2021 6:21am
Just Musing

If you are a price action trader, be cognizant of the price action context: What is happening at the higher time frame (e.g., daily tf if you are a day or intraday trader, and weekly tf if you are a short-term swing trader)? Where is price action coming from and where is it located? What is the order flow on the setup time frame and is there alignment between the short term momentum (on your setup tf) and the directional tf (the htf from which you determine the market condition)?

KP
Do your homework, follow the footprints of smart money
  • #787
  • Dec 13, 2021 4:32pm Dec 13, 2021 4:32pm
Just Sharing

I trade zones in the main, particularly for medium-term swing trading. If there are no feasible zones to trade from in a market, I move on to others on my watch list or step aside.

Stay safe, trade safe, and prosper.

KP
Do your homework, follow the footprints of smart money
  • #788
  • Dec 16, 2021 11:04am Dec 16, 2021 11:04am
Beware how you trade in the last few days of December. You would fair better by waiting for how price action handles extremes of zones. Patience is key.

Stay safe, trade safe, and prosper.

KP
Do your homework, follow the footprints of smart money
  • #789
  • Dec 28, 2021 7:53am Dec 28, 2021 7:53am
Just Musing

Resolve not to rush into trades. The more patient you are, the higher the probability of your trading success.

KP
Do your homework, follow the footprints of smart money
  • #790
  • Dec 29, 2021 3:21am Dec 29, 2021 3:21am
When you are under pressure to trade, don't! If you badly need money, don't trade.

KP
Do your homework, follow the footprints of smart money
  • #791
  • Dec 29, 2021 3:32am Dec 29, 2021 3:32am
Any insight based on your trading experience regarding when not to trade?

Stay safe, trade safe, and prosper.

KP

Quoting KeenPips
When you are under pressure to trade, don't! If you badly need money, don't trade. KP
Do your homework, follow the footprints of smart money
  • #792
  • Dec 31, 2021 3:32am Dec 31, 2021 3:32am
An emotion driven trade can be quite harmful to your trading career. Take a break if a loss has hit you hard. Come back when you have found what you did that you shouldn’t have done.
  • #793
  • Jan 16, 2022 1:51am Jan 16, 2022 1:51am
Just Sharing

The type of trader you are determines, to a large extent, how you analyze the market.

For example, if you are a scalper you would more likely be interested in the prevailing momentum of the time frame from which you get your trade setup and you would be focusing on immediacy of price. But a day trader, who does not scalp, would be interested in the prevailing momentum on the D1 tf, and, depending on how long they want to leave a trade open, would consider the value areas (e.g. S/R or S/D) on an intra-day timeframe like H1 or H4 that provide a context to their current trade. A medium-term swing trader, like myself, would be interested in both the short-term momentum and the longer-term market condition (or direction), say, on a W1 tf. They would be influenced by value areas (e.g. S/R, S/D, and market inefficiencies) on D1 or W1 tf that provide context to their trade.

Therefore, it is imperative that each FF member be aware of the type of trader they are and what they could take away from market analyzes by fellow traders. This way, a lot of arguments and misunderstandings could be avoided, and we could better appreciate what other members post on relevant threads.

Stay safe, trade safe, and prosper.

KP
Do your homework, follow the footprints of smart money
  • #794
  • Feb 1, 2022 3:43am Feb 1, 2022 3:43am
If you carefully analyze your trades you may find out that a major reason for not attaining as much success as you could is failure to wait for the right setup under the prevailing market condition.

KP
Do your homework, follow the footprints of smart money
  • #795
  • Feb 7, 2022 4:11pm Feb 7, 2022 4:11pm
In trading zones, always identify and mark both your HTF zone and your trade entry tf zone. How the prevailing price action on your trade entry time frame behaves would define when and which direction you trade, and, even how you trade (e.g., whether to scalp at the zone or swing trade).

Trade safe and prosper.

KP

Quoting KeenPips
Just Sharing I trade zones in the main, particularly for medium-term swing trading. If there are no feasible zones to trade from in a market, I move on to others on my watch list or step aside. Stay safe, trade safe, and prosper. KP
Do your homework, follow the footprints of smart money
  • #796
  • Feb 17, 2022 3:00am Feb 17, 2022 3:00am
One of the things certain traders boast about, or criticize others for, is that their charts are clean and certain other traders' charts are messy. You refuse to be fazed by that. If your charts are messy, understanding what you are doing is the more important thing. Nevertheless, as you gain in experience and develop as a trader, your charts would be cleaner; you would learn how to simplify your trading. Bottom line: Simplicity comes with experience, and don't let any other traders rush or bamboozle you.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #797
  • Mar 8, 2022 10:50am Mar 8, 2022 10:50am
Have you ever wondered whether the answer to your trading problem is in you? Work on improving yourself to better understand and analyse the markets, and position yourself at major reaction zones/value areas (e.g., including confluence of factors). Exercise patience for significantly feasible trade setups at the zones/value areas with high reward/risk ratio

KP
Do your homework, follow the footprints of smart money
  • #798
  • Mar 20, 2022 3:01pm Mar 20, 2022 3:01pm
You win if you muster the discipline to be patient for quality trade setups. How to muster the discipline is where the challenge is. What's your take on this?

KP

Quoting KeenPips
Have you ever wondered whether the answer to your trading problem is in you? Work on improving yourself to better understand and analyse the markets, and position yourself at major reaction zones/value areas (e.g., including confluence of factors). Exercise patience for significantly feasible trade setups at the zones/value areas with high reward/risk ratio KP
Do your homework, follow the footprints of smart money
  • #799
  • Mar 30, 2022 3:57am Mar 30, 2022 3:57am
Just Musing

Have you discovered two or three most important success factors in your forex trading business? Imo, with the possible exception of one or two factors, such success factors would depend on your personality, trading style and, perhaps, trading experience. Have you discovered yours? You may need more time and reflection than you think to make that discovery.

Trade safe, prosper.

KP
Do your homework, follow the footprints of smart money
  • #800
  • Apr 21, 2022 4:48pm Apr 21, 2022 4:48pm
Just Musing

Must you grow your Forex demo trading account before you open a live account? This is what is generally advised. But must you? Should growing your demo account be the main focus? What should be the main focus?

KP
Do your homework, follow the footprints of smart money
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