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The one reason that trumps all other reasons why traders lose

  • #101
  • Dec 10, 2013 1:23pm Dec 10, 2013 1:23pm
Quoting Salbine
The one reason that trumps all other reasons why traders lose is... .... persistently trading in the wrong direction.

Though, it's more of a consequence I would say...
The single most important factor is having control of your own life.
  • #102
  • Dec 10, 2013 1:36pm Dec 10, 2013 1:36pm
when we really understand the forex you will not have any fear to trade any pairs.......
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  • #103
  • Dec 10, 2013 2:35pm Dec 10, 2013 2:35pm
Quoting Salbine
The one reason that trumps all other reasons why traders lose is... .... persistently trading in the wrong direction.
That made me laugh.😂
  • #104
  • Dec 10, 2013 5:23pm Dec 10, 2013 5:23pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
How well will you die non physically because that's what it's going to take in order to overcome everything
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #105
  • Dec 11, 2013 2:33am Dec 11, 2013 2:33am
I'd ask you guys do you know a person in your life that does not have self destructive behaviour in some way? Cigarettes, alcohol, too much sugar, fatty foods...?
  • #106
  • Dec 11, 2013 2:38am Dec 11, 2013 2:38am
Quoting Vitez
I'd ask you guys do you know a person in your life that does not have self destructive behaviour in some way? Cigarettes, alcohol, too much sugar, fatty foods...?
yes... Jesus
Howlin' at the Moon on the Roof
  • #107
  • Dec 11, 2013 2:39am Dec 11, 2013 2:39am
Quoting Vitez
I'd ask you guys do you know a person in your life that does not have self destructive behaviour in some way? Cigarettes, alcohol, too much sugar, fatty foods...?
To some extent - everybody has.
Main goal is - to lessen that extent.

btw, fatty foods isn't a bad thing if you know what to look for, though sugar always is...
The single most important factor is having control of your own life.
  • #108
  • Dec 11, 2013 2:48am Dec 11, 2013 2:48am
yes that is the main reason I think for no long term success.

"The single most important factor is having control of your own life."

-do you have it?
  • #109
  • Dec 11, 2013 2:53am Dec 11, 2013 2:53am
Quoting Vitez
yes that is the main reason I think for no long term success. "The single most important factor is having control of your own life." -do you have it?
It would be out of control for anybody to say yes..
Howlin' at the Moon on the Roof
  • #110
  • Dec 11, 2013 2:58am Dec 11, 2013 2:58am
Volatility is also one thing that is never discussed.

How can any system,method,approach or mindset could treat market similarly every hour/day/week/month/year when we know that volatility is changing.

There are days when market moves 80 pips and some days it moves 200 pips and its same on every time frame there is, but you will never come across a trading strategy of any kind who's rules factor this volatility in. Size of stops and targets are always constant.
  • #111
  • Dec 11, 2013 3:01am Dec 11, 2013 3:01am
Quoting nasir.khan
Volatility is also one thing that is never discussed. How can any system,method,approach or mindset could treat market similarly every hour/day/week/month/year when we know that volatility is changing. There are days when market moves 80 pips and some days it moves 200 pips and its same on every time frame there is, but you will never come across a trading strategy of any kind who's rules factor this volatility in. Size of stops and targets are always constant.
That is very close I believe. 3D Market... 2D Vision
Howlin' at the Moon on the Roof
  • #112
  • Dec 11, 2013 3:03am Dec 11, 2013 3:03am
Quoting Vitez
yes that is the main reason I think for no long term success. "The single most important factor is having control of your own life." -do you have it?
Proud to say: "Yes, I do!"
Though, it's relatively recently I got very close to that 'in control' thing...
Anyway, nobody can get it entirely thus I consider it acceptable to say 'yes' if that all depends on the extent...
The single most important factor is having control of your own life.
  • #113
  • Dec 11, 2013 3:06am Dec 11, 2013 3:06am
Quoting Wolf_Wicked
{quote} That is very close I believe. 3D Market... 2D Vision
I think its also a big factor in why traders "make less".
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  • #114
  • Dec 11, 2013 3:11am Dec 11, 2013 3:11am
Quoting nasir.khan
but you will never come across a trading strategy of any kind who's rules factor this volatility in.
I did came across and use such a strategy now...
Quoting nasir.khan
Size of stops and targets are always constant.
And this is bullshit, sir
The single most important factor is having control of your own life.
  • #115
  • Dec 11, 2013 3:34am Dec 11, 2013 3:34am
Quoting Mikkk01
{quote} I did came across and use such a strategy now... {quote} And this is bullshit, sir
I could have only argue your points if you show me the strategy (incase its posted on online) or how it factors in volatility and dont bother if its some ATR indi.

Again i dont know how to answer to second point because you did not offer a valid counter argument.

P.S: to every one else when i say i never came across it means "I never came across" (was't system hoping like most of the noobs) and not talking for everyone else so please dont get offended.
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  • #116
  • Dec 11, 2013 3:41am Dec 11, 2013 3:41am
Quoting nasir.khan
{quote} I could have only argue your points if you show me the strategy (incase its posted on online) or how it factors in volatility and dont bother if its some ATR indi. Again i dont know how to answer to second point because you did not offer a valid counter argument.
Here we go: http://www.forexfactory.com/showthread.php?t=373796
Quoting realjumper
Stop Loss for shorts goes above the previous swing high, and for longs, below the previous swing low.RJ {image}
Volatility high - SL as you can guess is wider and otherwise...
Quoting nasir.khan
P.S: to every one else when i say i never came across it means "I never came across" (was't system hoping like most of the noobs) and not talking for everyone else so please dont get offended. .
Yep for me too, though you wrote
Quoting nasir.khan
you will never come across a trading strategy of any kind who's rules factor this volatility in.
And I did came across, others will find also if they wanna...
The single most important factor is having control of your own life.
  • #117
  • Dec 11, 2013 3:57am Dec 11, 2013 3:57am
I think the biggest reason traders fail is because they come in overconfident and end up getting crushed. Vast majority of those that get crushed will quit and whats left is a very small pool of people who were smart enough to respect the forex market plus the few crazy people who can take beatings

People also seem to tend to gravitate towards crazy trading methods that make absolutely no sense. I understand there are plenty of methods that I don't understand that may work wonderful, but there are just so so so many that are just such obvious junk.
  • #118
  • Dec 11, 2013 3:57am Dec 11, 2013 3:57am
Quoting Mikkk01
{quote} Here we go: http://www.forexfactory.com/showthread.php?t=373796 {quote} Volatility high - SL as you can guess is wider and otherwise... {quote} Yep for me too, though you wrote {quote} And I did came across, others will find also if they wanna...
So using SR for stops/exits/tp's is how you suggest the volatility phenomenon is factored into a trading system?

One day price choke's and die when it hits the next closest SR point and next day blew pass through 2-3 SR points in in a breath. Just using SR blindly does't not factor volatility in automatically.

Again if you're gonna direct me to a system thread which have a "rule" for countering volatility, think again...

is it even possible to do that in a single line?
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  • #119
  • Dec 11, 2013 4:05am Dec 11, 2013 4:05am
Quoting nasir.khan
{quote} So using SR for stops/exits/tp's is how you suggest the volatility phenomenon is factored into a trading system? One day price choke's and die when it hits the next closest SR point and next day blew pass through 2-3 SR points in in a breath. Just using SR blindly does't not factor volatility in automatically. Again if you're gonna direct me to a system thread which have a "rule" for countering volatility, think again... is it even possible to do that in a single line? .
Let's say that you may put anything to the extreme of course... I would say, however, that it's like a strategy that's giving some edge though can't predict market [no one can] - so you got winners as well as losses. Same is here.
Anyway, this:
Quoting nasir.khan
Size of stops and targets are always constant.
can't be true! As size of stops, let alone targets, is constant only in a very narrow spectrum of strategies...
The single most important factor is having control of your own life.
  • #120
  • Dec 11, 2013 4:26am Dec 11, 2013 4:26am
Quoting Mikkk01
{quote} Let's say that you may put anything to the extreme of course... I would say, however, that it's like a strategy that's giving some edge though can't predict market [no one can] - so you got winners as well as losses. Same is here. Anyway, this: {quote} can't be true! As size of stops, let alone targets, is constant only in a very narrow spectrum of strategies...
I can see your point.

I dint mean by constant that every trader in the whole universe uses a 20 pip sl and 30 pip tp. What i meant was that criteria whatever that is always constant.

Now what i know from being 4 years at forex factory most of the population uses MA's for trailing stops, getting out when RSI hits extremes, using ATR, hiding stops behind SR, using Bolinger Band extremes or using single bar patterns like inside bars, pinbars etc for managing their sl/tp's. There might be some more but they will fall in the same box i have put the above ones. (there is one group that does not use stops, they just go with the flow. just mentioning them incase someone throws that in my face too)

Ofcouse the actual value of your stop will change as you use any of the above methods. But the mechanism (any of the above) calculating that value is always same for every market condition which is very inefficient and thus most of the trading systems/methods posted on FF or anywhere on the internet for that matter are too.

come on is it so hard too see?
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