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Most important question to ask before trading

  • #21
  • Aug 1, 2013 8:55pm Aug 1, 2013 8:55pm
Do I really need this money in the next several years?
  • #22
  • Aug 2, 2013 1:08am Aug 2, 2013 1:08am
Quoting 2+2=4ex
Do I really need this money in the next several years?
Do I really need this money in the next several years?

I think
maybe you need,, maybe not
no one can predict the future
if there is something you should keep secret,simply just save it,, so, just
  • #23
  • Aug 2, 2013 1:37am Aug 2, 2013 1:37am
I think about target price and stop loss before enter a trade....
  • #24
  • Aug 2, 2013 2:28am Aug 2, 2013 2:28am
The worst you can do before putting on a trade is to fill out a check list (on paper or in your head) to verify that it meets your criteria.
  • #25
  • Aug 2, 2013 3:47am Aug 2, 2013 3:47am
? would be " Do I have a successfully back tested strategy that has been sim traded for at least 2 months with positive results ?"


Quoting TEB63
What do you think is the most importain question to ask yourself before you put on a trade - Before someone puts on a trade there are a lot of questions to be asked (I hope) I want to hear what people think is the most important of all the questions they ask themselves before they put on a trade ! I will post what I think Friday I want to here what others think
  • #26
  • Aug 2, 2013 3:59am Aug 2, 2013 3:59am
The BEST you can do is patiently wait for a trade setup to meet your criteria.

No wonder Mingary thinks forex profits are impossible...
Come with me if you want to live....
  • #27
  • Aug 2, 2013 4:05am Aug 2, 2013 4:05am
Quoting Mingary
The worst you can do before putting on a trade is to fill out a check list (on paper or in your head) to verify that it meets your criteria.
Because??
Doing what you like is Freedom. Liking what you do is Happiness.
  • #28
  • Aug 2, 2013 4:27am Aug 2, 2013 4:27am
he is being silly
but it has nothing to do with the question anyways
  • #29
  • Aug 2, 2013 4:28am Aug 2, 2013 4:28am
Quoting ~bull.bear~
{quote} I concern if my laptop could suddenly freeze or become no responding. I used to open many programs, like FF, excel, and etc. Of course this won't be an issue if i have better CPU.

really lol
  • #30
  • Aug 2, 2013 4:30am Aug 2, 2013 4:30am
Quoting sandycarrot
I would convince myself,if my stop loss and targets ( tp ) at the latest, will end at 6:00 am Hong Kong time

what does this mean and why HK time?
  • #31
  • Aug 2, 2013 7:42am Aug 2, 2013 7:42am
I ask myself "What question shall I ask myself before opening this trade?"
No greed. No fear. Just maths.
  • #32
  • Aug 2, 2013 9:23am Aug 2, 2013 9:23am
Quoting fora2020a
? would be " Do I have a successfully back tested strategy that has been sim traded for at least 2 months with positive results ?" {quote}
2 months? Make it years.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #33
  • Aug 2, 2013 7:28pm Aug 2, 2013 7:28pm
Quoting vox dei
{quote} 2 months? Make it years.
Most strategies are trash anyway. If your strategy makes no sense as to why it should work and it just looks good statistically, you've got a loser. The question you should ask before you enter a trade is this: Is my stop loss correctly set to my risk? Failure to check and double check that you're entering a stop with your trade is asking for your account to be wiped out.
  • #34
  • Aug 2, 2013 10:27pm Aug 2, 2013 10:27pm
I always ask myself: how much will i make this time? :>
  • #35
  • Aug 3, 2013 12:23am Aug 3, 2013 12:23am
The question I ask is: "If I were to enter the market now, how much could it potentially go against me?!"
Please check out my blog at https://from-zero-to-hero . net
  • #36
  • Aug 3, 2013 12:25am Aug 3, 2013 12:25am
Quoting Ill-b-back
The BEST you can do is patiently wait for a trade setup to meet your criteria. No wonder Mingary thinks forex profits are impossible...
^^^
Please check out my blog at https://from-zero-to-hero . net
  • #37
  • Aug 3, 2013 1:12am Aug 3, 2013 1:12am
Quoting Kanzler
{quote} Most strategies are trash anyway. If your strategy makes no sense as to why it should work and it just looks good statistically, you've got a loser. The question you should ask before you enter a trade is this: Is my stop loss correctly set to my risk? Failure to check and double check that you're entering a stop with your trade is asking for your account to be wiped out.


Kanzler, appreciate your good advice. Although it is better spent on someone else. Agree 99%. There's a thought provoking post by Hanover that explains my 1% disagreement (will look it up and link it here later).


Quoting smash1820
The question I ask is: "If I were to enter the market now, how much could it potentially go against me?!"

Answer: All the way. Always assume the trade you are entering is a loss. The benefits from thinking in such a negative way? Makes you risk only the amount you can afford to lose per trade. Leads you to automatically reevaluate the entry merits. Assures your psychological comfort whatever the outcome of any individual trade.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #38
  • Aug 3, 2013 1:25am Aug 3, 2013 1:25am
Quoting vox dei
{quote} Kanzler, appreciate your good advice. Although it is better spent on someone else. Agree 99%. There's a thought provoking post by Hanover that explains my 1% disagreement (will look it up and link it here later). {quote} Answer: All the way. Always assume the trade you are entering is a loss. The benefits from thinking in such a negative way? Makes you risk only the amount you can afford to lose per trade. Leads you to automatically reevaluate the entry merits. Assures your psychological comfort whatever the outcome of any individual trade....
Saying there's a thought provoking post by Hanover is like saying there's a fire burning in Hell. Hanover has some amazing insight into statistics - rare to find a post of his that fails to deliver on content. Needless to say, I look forward to seeing what you have to link.
  • #39
  • Aug 3, 2013 1:32am Aug 3, 2013 1:32am
Quoting TEB63
{quote} what does this mean and why HK time?
what does this mean and why HK time?

what does this mean,?
means sometimes my R : R = 1 : 1
and sometimes my stop lose and my target is determined by time rather than by the number

why HK time?
because i live in hong kong
if there is something you should keep secret,simply just save it,, so, just
  • #40
  • Aug 3, 2013 1:47am Aug 3, 2013 1:47am
Quoting vox dei
Always assume the trade you are entering is a loss. The benefits from thinking in such a negative way? Makes you risk only the amount you can afford to lose per trade. Leads you to automatically reevaluate the entry merits. Assures your psychological comfort whatever the outcome of any individual trade.
This is the truth. Learn this one point and you will be on your way to trading success.
Please check out my blog at https://from-zero-to-hero . net
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