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Ways to overcome trading fears in winning trades

  • #21
  • Aug 22, 2013 9:30pm Aug 22, 2013 9:30pm
Have no fear if you have an EA to do the work for you. Anything that is discretionary (cannot be coded or quantify into objective entry or exit) will tends to fall apart sooner or later.
  • #22
  • Aug 22, 2013 11:24pm Aug 22, 2013 11:24pm
Quoting seaman2
{quote} however, there are good things to be found on internet. step 1 is to identify real traders that make profits and follow them. You do this by following their calls or comments. ignore the rest. 10V may not necessary be reliable criteria as I found here traders with no V-s to be real deal. Really, one should avoid 10v as they reflect common thinking
In most of threads and forums demo traders teach demo traders. Blind teaching blind. And they also vouch for each other actively
  • #23
  • Aug 22, 2013 11:47pm Aug 22, 2013 11:47pm
In order to overcome trading fear in winning trades you have to also overcome trading joy in losing trades
  • #24
  • Aug 23, 2013 12:09am Aug 23, 2013 12:09am
Trust me. Stop demo trading.

I may be against the rest here. But the fact is, you'll find it really hard to learn to overcome the emotions in demo trading. To have a sense for a strategy, you must use a demo account. But once you have a strategy, open a live account with a much smaller investment. It must help one overcome the emotion.

That's what I do. And also as wendigo said, calculate in percentage and not $$$.
  • #25
  • Edited 8:29am Aug 23, 2013 3:15am | Edited 8:29am
Quoting Bhoopalan
Trust me. Stop demo trading.

Demo trading is good for learning how to handle MT4 properly. But it should not last over 3 months or so. After that - time for reality.
But still better to remember that 95% of people are not capable of successful trading. Must be very sure about yourself if continuing the efforts for years... And if failing for years then again have to ask - what makes me think that I can do it?
  • #26
  • Aug 23, 2013 6:30am Aug 23, 2013 6:30am
Some novice traders feel jittery when they start to trade in a real environment. Grab the concept of risk management and how to set ur SL and TP and make sure you use them effectively and judiciously.

There is risk in every thing we for money and one last thing is to trade with the amount you can afford to loss.
  • #27
  • Aug 23, 2013 1:40pm Aug 23, 2013 1:40pm
Set tight SL, decide TP on high TF and use EA that prohibits you to close order faster than TP.
  • #28
  • Aug 23, 2013 5:30pm Aug 23, 2013 5:30pm
Quoting Indrek
{quote} Common courses have organized by brokers or people connected to brokers. Their goal is to make you addicted, and certainly not too good Besides, nobody would publish a really good and working trading system in internet and nobody is going to share it during any courses. The very system is the biggest business secret that a professional trader has.
thats true professional traders don't publish their strategies.... because if they do, it will not work anymore
  • #29
  • Aug 24, 2013 5:20am Aug 24, 2013 5:20am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Plenty of great ideas being banded about, tight stops, hight timeframe Tp's, EA's, demo accounts.

But i don't think many have read what the system is, it's not chart/technical based, it's all about the fundimentals from what i can read - and thus the hardest type of system to make work - today a .25point change in AUD intersest rate will make the dolloar climb, but the same change next month will make it fall????

you can't demo this, you can only educate yourself to understand the bigger picture, and trust no-one government has a new agenda this week.

for ever suggestion about Sl, tp's and so on the are as many systems that work without these - why use a tight stoploss to only get knocked out constantly - was the entry ever correct in the first place?????

For this system to work, there is only one thing to overcome - the traders emotions - and that can only come with time.

Best of pips on your journey, put up a notice and remind yourself to be true to the system and trust yourself.
  • #30
  • Aug 24, 2013 8:03am Aug 24, 2013 8:03am
Quoting MPP
it's all about the fundimentals from what i can read - and thus the hardest type of system to make work
My opinion is that for a small independent trader, it is better to forget fundamentals absolutely. You simply cannot predict market reactions, it is just a lottery. But if reading technicals properly you cannot be too wrong.
A single trader is not capable of beating the big boys nor their robots anyway. So, fly under the radars and take your pips that you need. Even for making your living, you do not need to catch and ride big trends, although some "gurus" say so. Just take your very small pips every day on consistent basis, and you will have a good life. Success in Forex is never measured in pips, it is measured in money that you make.
  • #31
  • Aug 24, 2013 12:54pm Aug 24, 2013 12:54pm
Quoting pickers
Have no fear if you have an EA to do the work for you. Anything that is discretionary (cannot be coded or quantify into objective entry or exit) will tends to fall apart sooner or later.
So just an EA and sit back and let the EA make money for m? Heh, you want to sell me an EA? No my friend...I havn't found that EA and I let others to search it. If somebody will find it do you think ail sell it?

Quoting Indrek
{quote} In most of threads and forums demo traders teach demo traders. Blind teaching blind. And they also vouch for each other actively
And I am not a popular blind because I have only 2V

Quoting Andycole
Some novice traders feel jittery when they start to trade in a real environment. Grab the concept of risk management and how to set ur SL and TP and make sure you use them effectively and judiciously. There is risk in every thing we for money and one last thing is to trade with the amount you can afford to loss.
Well, I have experimented the SL, payed the hardly the lessons, cost me over 1k usd, here is what I learnt:
If you set a SL (under 60 pip at Eur/usd) than can be hit by a spike from your "nice" broker or just a quick yo-yo. Which will not stay there more than a few seconds, minutes. After SL is it I can see how other are swimming in $ and I am out with loss. So at the second lesson I didn't used SL. Guest what happent? Account wiped, ofc Conclusion for me is: while online do not use SL and watch the market actions, if quickly goes without any reason to your SL is time to add to your loosing position!!! very probably it will come back. Is slowly going, than or wait to hit a level or close it. If started a trade and not moving the price in your direction in X minutes, than the push is over and matter the luck in what direction will move: so close it do not gamble. If you go offline: can a politician or a boss tell something and the price will move away for 3 weeks, so use SL and risk to be hitten by a spike.

TP: when you set a TP it means YOU DON'T WANT MORE EVEN IF THE MARKET WANT TO GIVE MORE, you are out after that no matter how far it goes in your direction. Harder to set a TP than a SL! Several times I set a 20 pip TP and the price went 60 than back 25 than other 60... and I am out with 20 , from where to cover the spread and looses?


Quoting ARTjoMS
Set tight SL, decide TP on high TF and use EA that prohibits you to close order faster than TP.
see above


Quoting kevinleijh
{quote} thats true professional traders don't publish their strategies.... because if they do, it will not work anymore
on long term, because everyone will copy than once will not work. But while this effect arrives the market changes. I think is more an egoism.


Quoting MPP
Plenty of great ideas being banded about, tight stops, hight timeframe Tp's, EA's, demo accounts. But i don't think many have read what the system is, it's not chart/technical based, it's all about the fundimentals from what i can read - and thus the hardest type of system to make work - today a .25point change in AUD intersest rate will make the dolloar climb, but the same change next month will make it fall???? you can't demo this, you can only educate yourself to understand the bigger picture, and trust no-one government...
You are watching the posts dude, you aren't writing just to fill page => worth to read your posts with extra attention and not just because of 10x blind sympathy you have got
Livermore: a man must trust in himself.
Dammm, it seems there is no shortcut
Thank you very much!


Quoting Indrek
{quote} My opinion is that for a small independent trader, it is better to forget fundamentals absolutely. You simply cannot predict market reactions, it is just a lottery. But if reading technicals properly you cannot be too wrong. A single trader is not capable of beating the big boys nor their robots anyway. So, fly under the radars and take your pips that you need. Even for making your living, you do not need to catch and ride big trends, although some "gurus" say so. Just take your very small pips every day...
George Soros: all it matter how much you lost vs how much you earnt
Thank you


Intraday I found like a regular job: Sit down before Frankfurt open, watch open Frankfurt, London, NY, close: London, NY, watch Hong Kong open.
Very good to increase the return % / time ( until you have enough money to move to higher timeframe)


I have increased the Demo trade account size to simulate the real one, I will do a training for my mind.
In another teaching thread it was a good advice: when something goes wrong in live account go back to demo for 3 month and get the reason and fix it, prove yourself 3 month demo success before go back to live. That is what I am doing and thats why.
I want to buy PATIENCE
  • #32
  • Aug 24, 2013 7:45pm Aug 24, 2013 7:45pm
Quoting matheszabi
10 lot is 1M, 1 pip movement is 100$ with 1Million trade size. 20 pip is 2k usd in plus or in minus.....
//----
that's correct..... larger accounts can swing +/- several 1000's of dollars in just a few hours.....

5 standard lots on most any pair can move an account equity +/- 5,000$ on any average day..... it's just something we must get used to.....

with time, our desire to make money will out weigh our fear of losing money....... at that point, large daily or weekly equity swings become more of an expected event..... and less of a feared one........h
to trade and code, keep both simple... no call to impress....h
  • #33
  • Edited Aug 25, 2013 7:52am Aug 24, 2013 11:50pm | Edited Aug 25, 2013 7:52am
Quoting matheszabi
I think is more an egoism.
That is not egoism, that is common sense.
Trading is same as any business. All participants in this market are competitors not dear friends. The friendly communities in threads and forums have been formed by people who constantly fail and seek for other people's help. But as soon as a person starts professional trading at high level, he acts as any normal businessman and does not reveal his business secrets.
One more important aspect: forex is a zero sum game. It means that if someone wins then someone has to lose. A small trader cannot expect to win the robots of big financial institutions. So, his only hope is that there are many small traders who fail and whose money can be picked up. Now, think about it - why should any really successful trader train hundreds or thousands of people to become successful too?
I have been monitoring many threads for finding new ideas. Mostly these good ideas are some small elements included in some failing system. Or someone says something that nobody even notices but that gives inspiration for new thoughts or new approach. But I never expect that the thread runner or the people in thread (even with 10+ v) are really good professionals. If they were, they would not be in FF at all ... or if they really are then their goal is to test and develop new ideas with other people's help, nothing more.
  • #34
  • Aug 25, 2013 12:42am Aug 25, 2013 12:42am
Quoting matheszabi
So just an EA and sit back and let the EA make money for m? Heh, you want to sell me an EA? No my friend...I havn't found that EA and I let others to search it. If somebody will find it do you think ail sell it?
Find an EA? Why dont you take the hard pill and start to learn coding. It will help to quantify your strategy if it is workable.
  • #35
  • Sep 4, 2013 12:05pm Sep 4, 2013 12:05pm
I knew it, but I used other words:

http://www.forexfactory.com/showthre...76#post6931576
I want to buy PATIENCE
  • #36
  • Edited 8:50am Sep 5, 2013 8:38am | Edited 8:50am
yet another "great" trade:

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-09-05 at 6.16.36 PM.png Size: 16 KB


Charting system not available in FF so picture from Oanda:

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-09-05 at 6.15.47 PM.png Size: 87 KB


I can explain for myself why I have entered in short. I didn't liked when I saw it doesn't move but I was hoping in trend action. I can explain why I let to be a floating -20% in my account and didn't closed. Later I saw it was even more. When I came online again I saw a little profit and closed it from fear to not back at ECB conference and also I needed to go offline.

Max negative it was around 1.3325, from 3162 is around -70 pip. 5 lot x 70 pip = -3500$ floating, that is -35% Need a system of 67.5% win rate to use that DD, which is a solid system, but only if I risk 1:1 -35% to +35%. I have closed at +1.4% 30 pip more and Oanda it would close that trade! with -5k usd on me.

1.3112 was the minimum, which is around +50 pip, that would be almost acceptable for that risk but I have closed the trade a way to soon.

Overall I have respected my rules, and I made a very poor trade => my system is wrong, need to adjust it.
This kind of trades are killing the account even if has a few profits and rare are coming in negative.
I want to buy PATIENCE
  • #37
  • Oct 1, 2013 2:16pm Oct 1, 2013 2:16pm
Here is the solution: http://www.investopedia.com/articles.../02/110502.asp
"try to get just a little more"

Problem solved
I want to buy PATIENCE
  • #38
  • Last Post: Apr 7, 2014 9:23am Apr 7, 2014 9:23am
Today the price moved 50 pip in my direction.
I had 3x trades. I have closed all just a bit above BE.

Instead of 3x50=150 pip, I got like 9 pip. This is a full fail decision set. I couldn't overcome the fear of winner trade to become a looser trade.
+9 pip still better than a -300.
I will not have the required money to pay may loosing trades, soon I will loose the big part of the account, if I don't change this behaviour.
I want to buy PATIENCE
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