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Three Reasons Why Successful Traders Fail In The Beginning

  • #61
  • Feb 24, 2015 8:40am Feb 24, 2015 8:40am
You started reading/implementing what others were supposedly doing to be supposedly profitable and you complicated things. Go back to your rookie simple mind state of trading and disregard what every one else is doing. So many don't even trade real money. They are your typical analyst in the makings.... They know ZERO.


Quoting Pcmtrader
{quote} Hi , I'm a new trader , at first I traded well but suddenly I lost what I gained and half of my personal investments . would any tell me how they are successful in this market and any other guidance for me to be successful .
SPC * Swollen PocketZ Crew!
  • #62
  • Feb 24, 2015 9:02am Feb 24, 2015 9:02am
I believe that stop loss concept is very confusing. It should not be tight, and it should not be long compared to your targets.

But.. targets?! Who knows where this is going?

In my experience a technical stop loss (swing low or swing high) should be the best ones, but its normally big.

How do you guys approach on that?
  • #63
  • Feb 24, 2015 10:03am Feb 24, 2015 10:03am
Quoting gustcoelho
{quote} hey man! tkz for your contribution.. and congrats for your profits! now, if possible.. whats your approach to the markets? i'm not sure if your approach will fit me or anybody else, but for sure it makes money if you dont mind, talk us about it and your development as a trader
Follow the trend when it retrace put your self on it and ride it until you saw any technical or fundamental reversal signal then take profit and stay out of the market.
I don't know y you are losing?
Find a profitable system and follow it like a religion, There is a lot of profitable systems in FF like this one(I used):
http://www.forexfactory.com/showthre...500756&page=12

This system worked for me and it's quite simple.
Without an edge MM is useless!
  • #64
  • Feb 24, 2015 10:11am Feb 24, 2015 10:11am
Supply & Demand. Start here...... Download the PDF. It's only a start. It's not perfect. Everything from Red is worth a read here. Stop searching. You will know where price is going and you can have tight low risk stops. It's all you need. Study hard if you really want this or stop wasting your time.


Quoting gustcoelho
I believe that stop loss concept is very confusing. It should not be tight, and it should not be long compared to your targets. But.. targets?! Who knows where this is going? In my experience a technical stop loss (swing low or swing high) should be the best ones, but its normally big. How do you guys approach on that?
SPC * Swollen PocketZ Crew!
  • #65
  • Feb 24, 2015 10:24am Feb 24, 2015 10:24am
Quoting JoeNY
Supply & Demand. Start here...... Download the PDF. It's only a start. It's not perfect. Everything from Red is worth a read here. Stop searching. You will know where price is going and you can have tight low risk stops. It's all you need. Study hard if you really want this or stop wasting your time. {quote}
tkz Joe, of course I will study it.
  • #66
  • Feb 24, 2015 10:25am Feb 24, 2015 10:25am
Quoting afhacker
{quote} Follow the trend when it retrace put your self on it and ride it until you saw any technical or fundamental reversal signal then take profit and stay out of the market. I don't know y you are losing? Find a profitable system and follow it like a religion, There is a lot of profitable systems in FF like this one(I used): http://www.forexfactory.com/showthre...500756&page=12 This system worked for me and it's quite simple.
tkz afhacker! I will give it a try.
  • #67
  • Feb 24, 2015 1:58pm Feb 24, 2015 1:58pm
Quoting gustcoelho
{quote} The risk of undercover your loser side? if im wrong, please correct me.
Didn't you see that bull? Watch it again with focus on how this whole discussion about Crocodile and Log started, who started it, why he forgot the risk, what distracted his attention, etc.
The Thief of Wall Street
  • #68
  • Feb 24, 2015 3:26pm Feb 24, 2015 3:26pm
Quoting Chicky
{quote} Didn't you see that bull? Watch it again with focus on how this whole discussion about Crocodile and Log started, who started it, why he forgot the risk, what distracted his attention, etc.
Classic market gurus always talks beatifully. And I really dont care what they think.

p.s.: By the way.. Why are you wasting time at this forum? I believe no one is putting a gun to your head. Just leave the discussion if something is distracting your trading decisions. Besides that, you may be distracting someone elses attention.

  • #69
  • Feb 24, 2015 4:29pm Feb 24, 2015 4:29pm
While I am not yet a trader who has made millions, I have been successful in terms of consistent profit and I will tell you why.

1. I look at trading as a business. I have a trading plan, I set myself targets and I analyze, asses and evaluate my performance.

2. I have great mental strength, patience and discipline. I stick to my plan regaurdless, I wait for trading opportunity to come to me, I dont force it.

3. I trade SMART, not HARD.

THE DO'S
S- Be SELECTIVE
M- Be MOTIVATED
A- Is your trade ACHIEVABLE?
R- Be REALISTIC
T - Set yourself TARGETS

THE DONTS
H - Stop HESITATING
A- Don't be AIMLESS
R - Don't RUSH
D - Don't be DELUSIONAL
Trade smart, not hard
  • #70
  • Feb 24, 2015 7:32pm Feb 24, 2015 7:32pm
This is quite simple. Most new traders come in the market with the perception of getting rich quickly. In fact most of them believe that they can predict the market correctly 9/10 of the time. Therefore, they do not expect to lose, and end up investing unwisely without risk diversification and management.
  • #71
  • Feb 25, 2015 1:48pm Feb 25, 2015 1:48pm
Quoting moonshot
This is quite simple. Most new traders come in the market with the perception of getting rich quickly. In fact most of them believe that they can predict the market correctly 9/10 of the time. Therefore, they do not expect to lose, and end up investing unwisely without risk diversification and management.
moonshot, i'm not sure this is so simple. there are many many many mistakes you could make approaching trading.. just one is enough to put your account to red

i think most know that you make bad trades and good trades, making your profit with risk/reward and money management

the famous 3 M's to success: mind, method and money management

although im not a profitable trader, im sure these 3 M's are more than enough to profit, but the question is: how to implement that in a daily basis?

mind is a matter of time and confidence in your method, as my understanding (you need experience.. time in the market.. time with your charts etc.. besides that, a solid method for execute your trades is fundamental for you to do what is telling you)

money management is very easy to implement... just need to be a serious trader.. serious to his objectives (this is simple math.. no problem at all)

so, as the majority of gurus say that method is the easy part, i do not believe in that

im not saying one needs the holy grail.. or EA ... but a solid one. in other words, something you trust on the long run and has a mathematical positive expectancy
  • #72
  • Feb 25, 2015 1:51pm Feb 25, 2015 1:51pm
Quoting gustcoelho
{quote} tkz Joe, of course I will study it.
joe, i've took a quick study on this material..

a long time ago i've read something about S/D but didn't understand its principle

i think now i did. so i'll try to implement these techniques within my charts

a little bit subjective, but its ok. one need to understand clearly the difference between S/D and S/R.

in practical terms, i'm searching my charts for long candles on the beggining of a major move.

with this approach, all this body candle would be a good S/D zone. is that correct?
  • #73
  • Feb 26, 2015 6:07am Feb 26, 2015 6:07am
Quoting Pharm0r
How can a successful trader fail in the beginning? Wouldn't that be an unsuccessful trader?
word! hahahah
  • #74
  • Apr 2, 2015 2:01pm Apr 2, 2015 2:01pm
Quoting PoundTrader
1. They jump out of losing positions that become winners. 2. They jump out of winning positions that become huge winners. 3. They stop trading and watch the huge moves pass them by.
I'd like to mention the important role of "psychology" in trading which is heavily related to all mentioned above.
  • #75
  • Apr 3, 2015 2:25am Apr 3, 2015 2:25am
I would say psychology and mentality of the trader affects on a big amount your profits/losses. Most important one dont get greedy!!
  • #76
  • Apr 3, 2015 4:35am Apr 3, 2015 4:35am
Quoting stricky1967
{quote} {image}
I love the picture you attached lol
  • #77
  • Apr 3, 2015 5:22am Apr 3, 2015 5:22am
https://youtu.be/O7OLXcKw3gA?t=5m1

This guy used to run a company... He has an interesting perspective.

I have proved him wrong (for the moment anyway), but the majority of people probably won't turn it around.

I don't agree with OP's points either, especially number 1.
  • #78
  • Apr 3, 2015 11:29am Apr 3, 2015 11:29am
Quoting Fariid
{quote} I'd like to mention the important role of "psychology" in trading which is heavily related to all mentioned above.
True
  • #79
  • Apr 3, 2015 11:33am Apr 3, 2015 11:33am
Those who have succeeded at anything and don't mention luck are kidding themselves.
  • #80
  • Apr 6, 2015 3:04am Apr 6, 2015 3:04am
Quoting PoundTrader
Those who have succeeded at anything and don't mention luck are kidding themselves.


What i believe is that luck comes with the ones that tries and put effort into it. I mean luck comes when you believe in yourself !
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