Forex Trading & Secrets!?!

When I first started trading I always thought there was a huge secret behind profitable traders.. a well kept secret that the banks knew and kept from the public.. most of this thinking has subsided in the years however...

I thought it would be interesting to hear from fellow traders of FF if they themselves have any "secrets" they do not share. (you do not need to share your secret let me explain the guidelines)


Here is the template for answering this thread. (just a guide not required).

1. Do you have any secrets regarding trading? how many? (if no please skip remaining guidelines and discuss your thoughts on the matter)

2. Why do you keep it a secret and not share with others?

3. What consequences would sharing your "secret" possibly lead to?

4. If you did share your secret, do you think others could even use it to trade profitably? or would many fail to see the potential?

5. If you are up for it you may reveal your "secret" for the first time (absolutely touchy subject feel free to pass) I know I know.. it wouldn't be a secret anymore.. but you know what I mean

6. Any advice to others who are still trying to discover the secret to success?

7. Any other comments you would like to make.. go into depth on anything that comes to mind regarding this topic. Let it flow




Be honest with yourself and the community

DO NOT HARASS OTHERS FOR THEIR SECRETS - this thread will not tolerate any attempt to force others to reveal more than they wish to PERIOD.

Personally I have 2 "secrets"

Secret 1.
I have discovered a few years ago a ratio that is evident in every candle and time segment you split up.. however I have yet to find a way to use this information as a leading indication of where the market will go.. but it is interesting how almost every data I find holds true... so I have held onto this secret as it looks too good to offer up.. however with the lack of ability to make any use of it I may share in the near future.. if only I had the right people to give good feedback into it..

Secret 2.
The other secret is really nothing but more of a psychological aspect I cannot share because it would probably lead to chaos literally.. I can't say more because it is that weird.. but it has less to do with forex and more with how I interact with to extract data.. hehehe

there is no such secrets of forex...market is an open book for those who have patients to read it

I'm intrigued. Looking forward to you revealing this stuff? Probably wont change my trading, but I do enjoy this stuff.

Also I have no secrets to reveal. Trading is all about knowledge, nothing secret just the more you have the better.

generally how I feel now, however there is also clearly individuals out there who have unique ways of reading this book they have not revealed

take Gann as the classic example who died without a full or clear explanation..

I doubt you willl get any quants in here lol
Anybody that would post an EA as a secret would undo themselves
Even the OP didnt want to reveal his secret ratio (is it 42 lol) or his psychology and like OP said.
Hard work and research into secrets help form traders edges - would you put that out there in the public domain?

not 42 or a fib


I don't enforce to have the secrets revealed.. it is not a requirement of this thread.. simply seeing what % of people do have some secrets

anyone is free to pop in and say "yes I have a method based on blah blah moon cycles but I wont say more.. if I did reveal this is could destroy the markets" etc etc..

I don't see any threads shedding light on the topic that so many people clearly question.. is there a secret to the market.. I see it everywhere on FF.. so lets see how many secrets there might be!!!!

I'll be damned!
There is already an indicator for that too.....

Hi there,

If you want to continue to exist in the trading world and want to earn quick bucks consistently from this market, you have to have that professionalism in you, normal Forex traders would not do the job. So what makes the professional Forex traders different from that of the normal traders? How they make so much of money by means of Forex trading? Once I had a discussion with one of my professional trader friend. He shared some of the secrets of the Forex market with me.

Secret 1: professional traders simply follow the Forex system.

They are not genius. They are not the one who is smarter than you also they do not have the ability to foresee the Forex trading. I am so confident in saying because I have seen some of the traders who do not have any idea about the market, but still making lots of money in the market. What is the reason behind it? This is because of a Forex trading system gives the fair idea about the Forex signals. The only thing they need to do is by following the trading system they have to repeat their consistency. Same thing applies for everyone.

Secret 2: learning to work smartly with least effort.

Do you think it is a good idea to gather the knowledge about the Forex before you can succeed in this market? Do you think combining the strategies that are being taught by the Forex experts can make you the master in the Forex market? If your answer is yes, than I am sorry to tell you that you are wrong. You might have got rewarded for the time and efforts you put into your business. But when it comes to the Forex , the story is quite different. Right Forex trading tutorials is the one that makes the difference. You are only rewarded when you are accurate, it does not matter how much effort you put in.

Secret 3: They possess discipline, determination, and mindset and money management for success.

Any professional Forex trader once told that he can leave everything aside for concentrating on the Forex trading. He told me that the problem that most of the traders have is the eagerness to earn quick bucks from this market. You have to have that discipline in you so that you can go behind the rules of this market. He is so good in his money management that 2 to 3 losses do not affect his trading. Not everyone can become a smart trader in short span of time, but everyone turn out to be the successful trader. I certainly hope that the secrets of Forex trading revealed in this article will help you become more cautious and careful in making safe Forex Trades.

Kind Regards,
Ritchie Blackmore
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This I 100% agree with. Depending on "how" you view something, be it from a different angle or whatever, will instantly show you something others dont see.

And like yourself, if it has taken you an extreme amount of work, commitment, dedication, tears, scrapes, to develop your "beliefs/views" about the market (i.e. your secretz) then im not surprised you wouldnt share it.

Without being selfish, the only way one would straight up tell you what that "secret" is, is if in return they gained something of equal value.

If not, then what you will get is "hints", as humans we want to share yet we dont want to give everything away based on the effort put in to firstly get it.

At one point, to limit my overtrading (some time ago mind you) I actually decided to ONLY long or short depending on how grumpy my neighbor was lol.

If he smiled in the morning, id look for long setups.
If he sulked in the morning, id look for short setups.

I soon realized how bearish I constantly was

Anyways, that aint a secret but I do have interesting "beliefs and views" about things which may or may not resemble what others think/believe.

Are there 'secrets' out there? Sure, but I don't believe they are needed for profitability inside any market place. Is an edge needed? Most definitely (imho of course). With enough research and understanding of the business you are playing in (which is an edge in itself), there will be no more secret searching or holy grail hunting that is required by an individual. To answer the question in a more concrete answer, do I personally have any secrets that increase my overall return? : Sure, but is it needed? Absolutely not.
Just my 2 pips.

-Rgz

I don't think there are secrets out there that have not been written about. But there is so much useless crap out there that finding the gemstones is really hard. Even if you see a gemstone, you would not recognize it as being one.
The process of verifying which information is actually reflecting reality and which is just wishful thinking or theories that don't work in reality is what is extremely hard to do. The markets make you believe that most of them work, cause some of the time every theory works, but there are not a lot of things that work permanently over decades.
I guess the secrets or what you wanna call it are just which theories to use and combine to make up a profitable system. I guess this special combination of many different components make up the edge or the secret I have in the end.

Ok Lol some more brain farts Ha!

As the NLP saying goes, " the map is not the territory"

Ultimately, the perspective that we each have is based on our personalities. We therefore play to our own strengths and weaknesses. This is what leads to a secret or a "holy grail" type of revelation.
Perhaps even if someone did reveal their secret, many of us simply wont be able to understand or apply it in any way that resembles the original idea.


Maybe its all psychology, afterall charts dont harm us, its our perspective, or beliefs and our actions on what we "see" on the charts that leads to the consequences.

Perhaps a better question isnt whats your secret but rather, what was it that gave you that "light bulb " moment

For me, it was when I realised that being a person thats a great communicator and good at managing people, I can look at the market asa group of people, everytime I ponder on that, it never ceases to amaze me. From the tick to the monthly charts.

Maaan i cooked up a stink didnt I? Everyone likes their own brand.

This secret ONLY works if you are within 8 pips of your stop.

When your trade is within 8 pips (or less) of your stop you must pull up a 15 min chat.

Then, I use a Nylon string guitar, you have to play music to the chart.

I suppose singing may work, and any wind instrument would certainly work, but the classical strings seem to help out my position the best.

The music must be performed by you, the trader.

1. DONT be GREEDY!

2. If your SCARED to LOSE money....Your to SCARED to MAKE MONEY!

*3. Trade with the TREND. The TREND is your FRIEND!

*4. Buy The Dips, Sell The Rally.........

5. Proper Money Management, Along with Risk:Reward ratio.

6. Compound your gains! Dont withdraw them! Your suspose to trade with money you CAN AFFORD TO LOSE!

Of course you must find a profitable system that works for you and the time you have to trade.

Ask your self this question...."Can i make a 1%-2% return on small $100usd account everyday or almost everyday?"

If you answered YES...which im sure almost everyone here has said...then guess what! You can be a MILLIONARE!!! in around 3 years give or take a few months! Of course you see and hear about EVERYONE that can make 100% returns on there account every month or weekly...guess what! THEY LOSE IN THE END! They do not use PROPER Money Management! High RISK=High Returns but it also limits the amount of times you can lose before you blow your account,thats why most that say they are "Profitable" traders making those kind of returns are still on a forum 4,5,6,7 years later!

If you think my statement is false, I want you to do this if you have a profitable system where you can make just 1%-2% each day...open a 100usd account and just make those small little returns and each day compound your gains! So what if you only make $1700 bucks or so for a years work! Then do it again for another year! Looking better now on the second year....$41,000 bucks! Now trade one more year compounding your gains...$972,000 BUCKS! And you just keep doing it over and over again people. You will have set backs or days you break even or even lose 1%-2% of your gains....In other words there are no real secrets......WEALTH comes with time.

P.S. And yes you could start with a bigger(faster) or smaller(slower) account size, but im sure most who are trying to be a PROFITABLE trader has atleast a $100usd account...

Ewww....

Not a favorite post of mine by you.

So any juicy secrets come out?

1. If a trader is halfway decent at gauging market sentiment (fundamental or technical), and

2. He doesn't over leverage himself, and

3. He employs savvy trade management (i.e. cost averaging, lot adjustments, etc.), and

4. He knows when to to get out (whether he's up or down), then....

well, you know the rest.

.

1. Do you have any secrets regarding trading? how many? (if no please skip remaining guidelines and discuss your thoughts on the matter)
Yes, One

2. Why do you keep it a secret and not share with others?
No one asked for it

3. What consequences would sharing your "secret" possibly lead to?
No one would believe its possible

4. If you did share your secret, do you think others could even use it to trade profitably? or would many fail to see the potential?
Everyone can use it but no one will follow the secret formula. I am damn sure about it.

5. If you are up for it you may reveal your "secret" for the first time (absolutely touchy subject feel free to pass) I know I know.. it wouldn't be a secret anymore.. but you know what I mean
Courage! not in the sense of risk taking, but courage to face reality. Courage to accept the fact if some trading discovery or secret of yours has no logic, courage to accept the fact if your method does not work, courage to accept that account growth will always be slow, courage to accept that one cannot trade everyday, courage to accept that it involves hard work of learning economics and remaining updated on world events, courage to accept that charts are just secondary tools, courage to accept that most statistical tools are just presentation of history in their particular ways, courage to accept series of losses, courage to hold positions until they hit takeprofit, ................

6. Any advice to others who are still trying to discover the secret to success?
Work hard, seek only reasonable retuns and look for logic in whatever you do.

7. Any other comments you would like to make.. go into depth on anything that comes to mind regarding this topic. Let it flow
Keep your positions small, never risk more than 1%.

There really is no secret formula. It's just managing risk. That's it. The more you know and think things through, the better prepared you are to manage the risk. That's all. Unless you're really really lucky, chances are it will take awhile for you to make money and your positions to grow. With that said compounding is very very powerful. Just don't lose too much so you let it work for you and not against you. If you managed the risk and money properly and let it compound for you, then in 5, 10, 15 years you should have something nice built up (compared to what you started with). It's just like any business, but with probably a lot less overhead and more free time. Very important: Treat trading serious. Serious like a business.