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Healthy signs for a trader

  • #21
  • Oct 30, 2009 9:49am Oct 30, 2009 9:49am
Quoting aediaz1
[list][*]Other/new strategies doesn't interest you at all[*]You don't care about other's point of view regarding the market[*]What you see/interpret from a chart/macroeconomics successfully, cannot be explained nor understood by any others than yourself[*]You rarely need more than a few seconds to decide if you have a scenario or not[*]You get more picky (and conservative) about trading-scenarios[*]You can't understand why people need more than 1:10 gearing[*]You understand that you cannot be short and long at the same time on a currency-pair...
Just what we need, more shallow unquantifiable generalizations!!!

"I do it this way and that makes it the right way and you if you don't then you're wrong and you're going to fail.......'

WHATEVER!!!!
  • #22
  • Oct 30, 2009 9:50am Oct 30, 2009 9:50am
Quoting angus
Just what we need, more shallow unquantifiable generalizations!!!

"I do it this way and that makes it the right way and you if you don't then you're wrong and you're going to fail.......'

WHATEVER!!!!
LOL, you do every thing that on the list angus??

  • #23
  • Oct 30, 2009 9:51am Oct 30, 2009 9:51am
Quoting >Apocalypto<
HUH! running 26 systems at once, non automated! you would need very fast hands and trigger fingers!
It all depends on the TF you are trading, for charts less than daily, it would be dificult, but if someones trades daily charts or weekly charts, there is no problem with that.
Logic will get you from A to B. Imagination will take you everywhere.
  • #24
  • Oct 30, 2009 9:52am Oct 30, 2009 9:52am
Quoting angus
Just what we need, more shallow unquantifiable generalizations!!!

"I do it this way and that makes it the right way and you if you don't then you're wrong and you're going to fail.......'

WHATEVER!!!!
I'm not here to tell anybody anything. There are no practical usage of generalizing, its mostly for fun
Measure twice, cut once
  • #25
  • Oct 30, 2009 9:57am Oct 30, 2009 9:57am
Quoting Masmp_FX
It all depends on the TF you are trading, for charts less than daily, it would be dificult, but if someones trades daily charts or weekly charts, there is no problem with that.
i was making some fun mate! I sure there are some freaks out there that do it for a living, I can tell you I don't have the brain power to pull something like off!
  • #26
  • Oct 31, 2009 5:07pm Oct 31, 2009 5:07pm
Quote
You understand that you cannot be short and long at the same time on a currency-pair (hedging)

why not?

why can't you be short on daily and long on intraday? while your daily trade makes you money by going down there will be retracements on smaller TF's which often will be with that TF's trend or just a quick scalp on same or smaller TF.

You can be short and long at the same time on a currency pair and make good money. As long as you know what you're doing.
  • #27
  • Oct 31, 2009 6:16pm Oct 31, 2009 6:16pm
I was waiting for it
Measure twice, cut once
  • #28
  • Nov 2, 2009 8:55am Nov 2, 2009 8:55am
Quoting aediaz1
I was waiting for it
your patience payed back LOL
  • #29
  • Nov 2, 2009 1:58pm Nov 2, 2009 1:58pm
You understand why you were right/wrong on your last trade- "this red line crossed over this blue line" doesn't count
  • #30
  • Nov 2, 2009 2:36pm Nov 2, 2009 2:36pm

  1. Other/new strategies doesn't interest you at all

Why shouldn't they interest me? I would think it's very healthy for a trader to have an open mind.

 

  1. You don't care about other's point of view regarding the market


Know thy enemy, information is power, etc.

Quoting silverheat
if trading feels like brushing your teeth in the morning
I'm sorry for anyone who feels that way about their occupation. Something I found out about myself during my stint with online poker was that I can't play the robot and do something that doesn't engage me. This lead me to switch from playing 12+ tables simultaneously and averaging an hour a day (for almost a year!), to playing a single heads up (1vs1) game at a time. In trading I've tried to force myself to mechanically trade fast-to-medium intraday timeframes, but I just can't do it. So, I dropped to pure discretionary trading on slower timeframes (which turns out is more profitable for me anyway). Some like to just perform tasks robotically, others like to be challenged and forced to think.

Quote
aediaz1fx-traders I know have used the same system pretty much unchanged for the last 15 year
I doubt my strategy will need to change (I believe in strategies that exploit inherent behaviour in marketS), but I will still keep an open mind.
  • #31
  • Nov 3, 2009 2:01am Nov 3, 2009 2:01am
I think what he meant by not looking at other strategies that you don't switch them when it happened when one started. You just get better and better with it.

And in time, yes, why not to look at other good stuff or exchange ideas with some other trader.

Its difficult to discuss such things coz everyone has point of view and we talk very general, so there might be too many interpretations...
  • #32
  • Nov 3, 2009 2:18am Nov 3, 2009 2:18am
Don't use indicators, price action only.
  • #33
  • Nov 3, 2009 3:13am Nov 3, 2009 3:13am
Quoting aediaz1
That's some of the best ways to exploit leverage in your favor, IMO. I do it myself :=)
Thats just smart business IMHO. You get no added reward by having your entire bankroll with your broker besides have them salivate over what they expect to have in theres (this is true for most traders). I dont see any need to have more than needed to give adequate cover of margin, and in the end if you need to add some more then you can do at the press of a button.

It is one of the smartest things to do, as with withdrawing what isnt required with the broker.

Razor
  • #34
  • Nov 3, 2009 3:24am Nov 3, 2009 3:24am
Quoting Mr J

  1. Other/new strategies doesn't interest you at all

Why shouldn't they interest me? I would think it's very healthy for a trader to have an open mind.

how i think he means it is like you found your method and you are not on the search for a better system (holy grail) anymore, more on the journey of improving yourself on a day to day basis with a method that works for you

Quoting Mr J

  1. You don't care about other's point of view regarding the market


Know thy enemy, information is power, etc.

and here i guess its more about self confidence, you can see that you are not confident with your decision if you are searching for other peoples opinion after you went into a trade, i.e. hanging around threads named by currency pairs

Quoting Mr J
Some like to just perform tasks robotically, others like to be challenged and forced to think.
i didnt mean in like that, i mean it like you know what you doing, even when i wake you up at 3 o clock in the morning. you dont have to think about it, or do you think about where to put the toothpaste? do you have fear when you put the toothbrush in your mouth? while brushing, do you search threads on brush-factory.com whether you are doing the right thing? are you on the search for the perfect procedure to brush your teeth?
no, you do it naturally, because you have thousands of hours of screentime
Invincibility lies in the defence, the possibility of victory in the attack
  • #35
  • Nov 3, 2009 4:31am Nov 3, 2009 4:31am
There's only one healthy sign:

After one year you have at least 20% profit and the biggest drawdown is less than 20%.
  • #36
  • Nov 3, 2009 11:04am Nov 3, 2009 11:04am
Quote
What you see/interpret from a chart/macroeconomics successfully, cannot be explained nor understood by any others than yourself

What you see/interpret from a chart/macroeconomics successfully, cannot be explained nor understood by anyone, EVEN yourself
  • #37
  • Nov 3, 2009 11:49am Nov 3, 2009 11:49am
Quoting silverheat
i didnt mean in like that,
Okay, I thought you meant it as a mundane task, rather than something that just comes naturally.
  • #38
  • Nov 3, 2009 1:16pm Nov 3, 2009 1:16pm
Quoting jtrade
* no interest in reading retail fx forums...
I second that!
  • #39
  • Nov 3, 2009 1:19pm Nov 3, 2009 1:19pm
Quoting Agro
Cannot fathem how people will use 400:1 leverage on their entire bankroll and expect to be in the game more than a couple of days.
That will changed on November 30
  • #40
  • Nov 3, 2009 1:33pm Nov 3, 2009 1:33pm
Quoting arsa
Its difficult to discuss such things coz everyone has point of view and we talk very general, so there might be too many interpretations...
Biggest problem with threads in FF?

Speaking with authority on something (trading) that has none.

Too many people speak as if they know the one true way. You can't use indicators, you can't trade on small timeframes, you need this risk/reward, you need that % return, etc. Except that there's plenty of people who make money using indicators, there's plenty of people who scalp 1m or even tick charts, there's plenty of people who make money on a 2:3 risk/reward, etc.

It still makes me chuckle every time I see another tdion thread telling me that "THIS is the only way to trade" when the dude hasn't even made money yet.
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