Hi All,
I am facing some similar dilemmas as Marcel and thought i share my feeling about it.
The truth is, here we try to do some shortcuts with our own homework.
We newbies have been told that this strategy is very accurate if you are patient and take the A+ trades.
We now know what an A setup means. We probably even able to get in some trade on time too.
But do we manage the consistency which should come with this type of trading? I am certainly not. It has improved me by from about 30-35 percent of getting it right to about 49-55 percent.
If i look inside me and try to find why it doesn’t work like it should, i actually getting an answer. It took some time to get this, but now I know exactly why i from time to time try to screw with the system, have second guesses and poorer results. Yes it is discipline, but why don't i have it?
What helped to get this answer from myself was a book which is very popular and i think everyone read it here: the Market Wizards series by Jack Schwager.
After reading how other very successful traders got their edge or became successful almost without exception, i now wonder how I even manage to get these results with all this shortcuts I make.
The first question i asked myself is: Why I am not disciplined enough?
Because I don’t trust the method. Yes, I don't, why should I? I only see what other people do with it. Yes, sometimes i get it right too, but far less than i should have.
Why is that?
Now as I said I think I found my answer to my questions.
Instead of reading about how much percentage I can be successful with Price action and confluence, why don't I actually check it for myself?
The reason i or we newbies can't follow it to the letter because we don't believe in it with all our hearts.
What do I need to do to prove a method to myself?
I have to
1. Try it
2. Check its validity.
So my task have to be to apart from trying it to go through my charts and go back as far as i can to find out how successful can I be using the method. What can be my average R:R and lots of other useful things.
So i believe to get over our disbelief, or get the confidence necessary to trade, we need to check the past results for OURSELVES.
Because i only take it what other people say. this doesn't lead to the confidence you need to stick to your trade when it goes agaist you, turn on you or do all the things you don't want to see.
I have to go through my chosen markets and check it for myself. This will give me the proof what i need and nothing else.
This is what most of the successful traders did. extensive research to prove if a method have validity.
I need this to stick to my plan. I only can stick to it if I ecactly know what can I expect.
I know its not the easy option, but its worth more that blowing accounts.
HWick
I am facing some similar dilemmas as Marcel and thought i share my feeling about it.
The truth is, here we try to do some shortcuts with our own homework.
We newbies have been told that this strategy is very accurate if you are patient and take the A+ trades.
We now know what an A setup means. We probably even able to get in some trade on time too.
But do we manage the consistency which should come with this type of trading? I am certainly not. It has improved me by from about 30-35 percent of getting it right to about 49-55 percent.
If i look inside me and try to find why it doesn’t work like it should, i actually getting an answer. It took some time to get this, but now I know exactly why i from time to time try to screw with the system, have second guesses and poorer results. Yes it is discipline, but why don't i have it?
What helped to get this answer from myself was a book which is very popular and i think everyone read it here: the Market Wizards series by Jack Schwager.
After reading how other very successful traders got their edge or became successful almost without exception, i now wonder how I even manage to get these results with all this shortcuts I make.
The first question i asked myself is: Why I am not disciplined enough?
Because I don’t trust the method. Yes, I don't, why should I? I only see what other people do with it. Yes, sometimes i get it right too, but far less than i should have.
Why is that?
Now as I said I think I found my answer to my questions.
Instead of reading about how much percentage I can be successful with Price action and confluence, why don't I actually check it for myself?
The reason i or we newbies can't follow it to the letter because we don't believe in it with all our hearts.
What do I need to do to prove a method to myself?
I have to
1. Try it
2. Check its validity.
So my task have to be to apart from trying it to go through my charts and go back as far as i can to find out how successful can I be using the method. What can be my average R:R and lots of other useful things.
So i believe to get over our disbelief, or get the confidence necessary to trade, we need to check the past results for OURSELVES.
Because i only take it what other people say. this doesn't lead to the confidence you need to stick to your trade when it goes agaist you, turn on you or do all the things you don't want to see.
I have to go through my chosen markets and check it for myself. This will give me the proof what i need and nothing else.
This is what most of the successful traders did. extensive research to prove if a method have validity.
I need this to stick to my plan. I only can stick to it if I ecactly know what can I expect.
I know its not the easy option, but its worth more that blowing accounts.
HWick
).
.
