How to be right and dont make a dime!

Here are my two favourite. I do/did these two a lot:

1) Placing tight stop losses at most obvious level where the most "ordinary" people place them.

2) Place your pending orders well behind s/r that your order wont get filled before it will continue to move in "your" direction.

3) Waiting for "better" price! :-D

Other people favorite(and most "controversial"...)

3) Move stop loss to breakeven.

4)

5)


This should be a discussion. So please write your "TIPS" - HOW to be "right" and NOT to make a single $ on it...

Allow me to sidetrack abit from this thread main discussion. My comments is not about being right and not make a dime.

My personal view is that whether you actually make a dime or not is not our choice. We have zero control on how the market price move. We therefore cannot decide whether we can and will make a dime or not. The market will decide, probably without consulting you.

What we have control is risk, how much our loss. Hence from risk management and capital preservation perspective, all the above points seem like good points. Lol.

The differences in perspective probably boil down to one word: patience.

I disagree with you a little. I think that IT IS actually your choice whether you maker money or not. If you decide that you gonna make it in forex. You just gonna make it. Somebody for 1year, others for 10 year. Life is just full of choices...

If you pick only the best trade your current "system" can offer you, you have choice how much pips you will take. Im personaly trading levels(s/r, supply and demand...) and there some levels where you can almost 95% time capture at least few pips.
IT is your choice - you can take 5 pips now OR you can wait how it will develop and take 100pips later or your trade will end up in loss. You can also after first 30pips move SL to BE and watch how price bounce back to throw you out of your position and than you have to watch the 300pips move what just happened in only 4hours.

HERE IT IS YOU WERE COMPLETELY RIGHT BUT YOU DID NOT MAKE A SINGLE CENT.
And it was NOT market which decided how much $ you make but it was YOU who made the decision...

The thing is that if you were "COMPLETELY RIGHT" you WOULD have made pips. When a trade goes wrong ask yourself each time "what in the hell did I do ?", "How can I keep this from happening again?"

You can't be completely right if the trade didn't make you money. Being half-assed right means that it was half wrong... somewhere.

Draw up a really good chart study and a really bad trade.
Better -- Catch a small loss with chart technicals, and then, because someone said you don't know how to trade, say "Okay" and watch your $ disappear.

This reminds me of a thread on losses a while ago.