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What's Your Biggest Obstacle?

  • #21
  • Jun 15, 2009 4:01am Jun 15, 2009 4:01am
Quoting nick_l
Hi everybody!

I'm new to trading forex, but not new to trading in general.

Before I jump in to trading forex I was hoping to get some insight into what obstacles I might expect.

Any suggestions? What's been your biggest obstacle to forex trading?

Thanks!

Nick

hello


1. Greed and Fear
2. Lack of Knowledge
3. Lack of patience
4. Over confidence

But now there is no obstacle in my life to forex trading.
if you concentrate on these 4 points, you will find that there will not be any obstacle to forex trading in your life.

have a happy trading
  • #22
  • Jun 16, 2009 4:19am Jun 16, 2009 4:19am
Being greedy is my greatest obstacle.
  • #23
  • Jun 17, 2009 11:46am Jun 17, 2009 11:46am
Quoting dennycrane
This is not school. Reading cherry picked trade books/pdfs will not get you your diploma. This is a 100% OJT business.

EA does not translate to e=mc2

Demo is for mastering platform executions (what's a limit, what's a spread what will happen when I try this 400 leverage thingy etc). Nothing more.

The answer you are searching for really is on Baby pips, but it's too simple.... you must travel to URL school of hard knocks and dumb A decisions before you "see" the simplicity.

Reading psychobabble books (in the zone etc) is pointless, until...

What do you mean by OJT business? I'm in finace and never heard of that acronym
  • #24
  • Jun 17, 2009 11:52am Jun 17, 2009 11:52am
Quoting TimmyZ1
What do you mean by OJT business? I'm in finace and never heard of that acronym
OJT = On-the-Job-Training
  • #25
  • Jun 18, 2009 8:21am Jun 18, 2009 8:21am
Quoting doblece
OJT = On-the-Job-Training
thanks
  • #26
  • Jun 18, 2009 8:50am Jun 18, 2009 8:50am
Quoting doblece
OJT = On-the-Job-Training
Yes, that's a good point...

As an anesthesiologist, almost 10 years now doing the same, I am much more "automated" (as meaning of quick reading and responses to a critical patient situation, leading to better outcome) than I was in the beginning of my 2-years OJT (medical residency, almost 100 hours/week...). No book/lecture/forum could give me those skills.

So, finally, one of the major obstacles, IMO, is the excitement and hurry to master the charts, this associated to greed leads to lack of patience -> overconfidence -> overtrading ->

Cheers!
Many share my views with me. But I don't share them with them...
  • #27
  • Jun 18, 2009 9:05am Jun 18, 2009 9:05am
Trying too many strategies...

1) Pick one strategy and/or pair
2) Look at charts
3) Look at more charts, read price action, learn what candles mean, and when they mean what they mean.
4) Learn the price action.
2) Master it until it is second nature.

ONLY Then learn something else...

It took me 1 year of jumping around. Before I stuck to 1 strategy on 1 pair on 1 timeframe. Then i became a profitable trader.
  • #28
  • Last Post: Jun 21, 2009 12:35pm Jun 21, 2009 12:35pm
Almost a year of trading now, and I can definitely agree that emotions are the biggest obstacle
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