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Lack of practice in forex trading?

  • #21
  • Jan 19, 2010 2:02pm Jan 19, 2010 2:02pm
Quote
I used to do this a lot. A lot of trades will go into drawdown anyway, but as you get better, they will get fewer. Try reducing your risk until it's pennies and then you can observe impartially. Or even go back to trading a dummy account.

Thanks for motivation
  • #22
  • Jan 19, 2010 2:05pm Jan 19, 2010 2:05pm
Quote
Experience is only gained through the errors and the time taken to learn from them. It is very tough to teach someone something even with all the tools in the world. Think of the occurances in life where someone told you or warned you of something but you went ahead and did it. That's experience.

Trading is actually quite simple, we make it hard. How many times do you go back to look at something you did and it looks so obvious. I dont think screen time is necessarily the answer. You could look at your screen 10x longer than someone else and still...

Great post ..Thanks for your time in giving proper guidance.
  • #23
  • Jan 20, 2010 6:27am Jan 20, 2010 6:27am
Quoting Razor_trader
to come to them and offer the trader enough reason to place a trade
As always a well thought through post from you RT. I'm careful where I put my posts now because I feel they are often lost in insanity caused by people who know next to nothing talking nonsense.

I myself was guilty of this, once. I told Plutonite that horizontal S/R wasn't as important as dynamic S/R. Well, I now know that is just garbage and both have their place and uses. So Plutonite, if you read this, sorry.
Gone to a better place
  • #24
  • Jan 20, 2010 9:02am Jan 20, 2010 9:02am
Quoting smikester
As always a well thought through post from you RT. I'm careful where I put my posts now because I feel they are often lost in insanity caused by people who know next to nothing talking nonsense.

I myself was guilty of this, once. I told Plutonite that horizontal S/R wasn't as important as dynamic S/R. Well, I now know that is just garbage and both have their place and uses. So Plutonite, if you read this, sorry.
It amazes me today the power within Horiz S/R and I would go as far to say that it is the only thing that you need on your charts. The higher the timeframe the better.

If you can plot weekly Horiz S/R and be able to eyeball other areas on lower Timeframes, mix in a few PA candles and trade only good setups, you will go 10x further than those with excess lines who take every trade setup they see.

My trading has come along way since the last part of that sentence. Once you can spot good setups, eyeball areas that will possibly act as interference and manage your trades around those areas you will find that you dont need to take every setup on 1 or 2 pairs, but take 1 or 2 good setups over 6 or 7 charts per month. It takes time (I still make some a few good goofs) but by doing so you can find yourself making a less stressful 5-10% regularly while managing the drawdowns. Patience, Practise, Discipline and determination.

Razor
  • #25
  • Last Post: Jun 26, 2010 9:36am Jun 26, 2010 9:36am
It sounds as though you should perhaps try to trade in a higher TF....That would lessen the burden of being stationery. I have not officially began trading live, but I will somehow practice restraint when it comes down to it...especially if it could potentially mean PIPS!!!!!
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