90% of traders fail... | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why 95% Of All Traders Fail 202 replies

Why do 99% of the people who wants to be traders fail? 182 replies

If 95% of traders fail..... 38 replies

Why Traders fail despite of good system available here in Forum?? 8 replies

90% of traders fail? - just a thought. 23 replies

Attachments: 90% of traders fail...
Exit Attachments

90% of traders fail...

  • #41
  • Jul 31, 2015 3:57am Jul 31, 2015 3:57am
I just enter mainly on retracements, confirmed breaks of highs, perhaps mid-range pin bars. Stops are moved up all the time where there is a logical point, ie, when I enter a new trade, I move all previous trades to the same area as the new trade SL.

It's very easy really. Well not easy, but just common sense.

Sometimes it doesn't work - hence I only take T1 with half of normal risk.

The support level comes from weekly or daily chart on 16/1/15, 26/1/15 and 3/2/15.

I fact I traded off the 26/1/15 and lost, but as it was the first trade I only risked half my usual amount. Traded again from 3/2/15 and away it went.
So when price came back to this area on 14/4/15, and a great pin bar showed up, I didn't have to think about it long!

All trades have target at 90% of the previous move and all hit their target except 2 (one genuine loss and 1 where I stuffed up!).

I entered 13 times for this run up to target area. When it gets close and I can't get a decent reward to risk, I stop entering.
  • #42
  • Jul 31, 2015 4:11am Jul 31, 2015 4:11am
I hope it's of some help to anyone - this is the way I use multiple entries to really boost the amount of pips gained.

I look across about 10 pairs, but mainly trade 3 or 4. Sometimes a smaller run may last a couple of days. Other times it can be several weeks. By doing it this way, I avoid the need to be stuck in front of the charts all the time. A daily look to see if there is a setup. If not I don't do anything. If there is, then I check each 4 hrs and am flat out trading until the targets are hit, or the run finishes.

Then I have a break, keep my eye on weekly or daily charts and wait for the next set up for a good run. If I'm bored I go look at 4hr SR levels and see if I can "scalp" a couple of hundred pips - yes "scalp" is a relative term I suppose!

Not saying it's for everyone, but it works for me. Hope someone can get some use from it.

Cheers
  • #43
  • Jul 31, 2015 4:21am Jul 31, 2015 4:21am
Here's another run more recently - I missed the first trade (50% retrace) as I wasn't able to be in front of the charts. Entered a bit later though. On this one, the stops are already moved up to capture profit. Then I had to leave the charts for a while so hadn't entered a third time by the time I came back and took the pic. Even only 2 trades were opened, I got 1240 pips from the run with hardly any risk:
Attached Image (click to enlarge)
Click to Enlarge Name: another view.PNG Size: 118 KB
  • #44
  • Jul 31, 2015 4:41am Jul 31, 2015 4:41am
Quoting fxjesus
I'm accepting your money... paypal or wire is fine. {image}


k

P.S.
To save the time of possibly interested parties: I googled this, and found that the excerpt is from a book titled "Wall Street Speculation: Its Tricks and Its Tragedies" by Franklin C. Keyes.
  • #45
  • Jul 31, 2015 4:42am Jul 31, 2015 4:42am
Some important rules

1, perfect entry ( based on fundamental & technical SR/PA )
2, 70% win ratio
3, small SL big TP add based on SR line.
  • #46
  • Jul 31, 2015 5:42am Jul 31, 2015 5:42am
nice method

i will read times
thx
  • #47
  • Jul 31, 2015 6:10am Jul 31, 2015 6:10am
I like to be a day trader but I always failed on it then I decide to leave it and stick to my long term trading.
Without an edge MM is useless!
  • #48
  • Jul 31, 2015 6:11am Jul 31, 2015 6:11am
Hi MissH,

You're welcome. What may be useful for people to realise is that in the last picture I posted, by the time I'd posted it my account was up by 23% (although I work in dollar risk, that's what it equated to).

That's based off about a 3% risk for the first trade (I always use half my normal risk on the first trade), and then a 6% risk for the second trade. When I enter the second trade, the first trade SL is moved to BE, so that's not at risk any more.

This is one of the reasons I put heaps of time in to this - how you can gain enormous % gains for a normal amount of risk. From just those 2 trades I gained about 48% in about 8 days. Very happy with that. But with a better longer run you can increase your account by several hundred % or more, just with risking 3% to 6% for a trade.
  • #49
  • Jul 31, 2015 6:29am Jul 31, 2015 6:29am
Quoting GrowthHack
Some important rules 1, perfect entry ( based on fundamental & technical SR/PA ) 2, 70% win ratio 3, small SL big TP add based on SR line.

Good rules
  • #50
  • Jul 31, 2015 6:33am Jul 31, 2015 6:33am
Quoting nztea
90%+ of retail traders will fail over the long term because of a fundamental misconception about what is actually happening on the screen. Why are we given tons of free indicators? Why are we given free trading strategies, patterns, and systems? WHO INVITED YOU TO THE FREE MONEY PARTY? These devices were created in order to make the retail trader feel that they have an edge in the market. NEWS FLASH The only people who have an edge in the market are the Market Makers b/c they control the markets! The markets are part of a banks business. And just...

If you are a "day trader", does that mean you will close all positions at the end of your day, or will you let some go on over night or weekend?
  • #51
  • Jul 31, 2015 6:53am Jul 31, 2015 6:53am
hi guys, nice to know you all.
  • #52
  • Jul 31, 2015 6:59am Jul 31, 2015 6:59am
Quoting Mingary
{quote} I agree with all the above, however trading by "price" is meaningless, simply because price can do anything. Price going up, price going down ... the next price and move can be in any direction ...
Because you don't know where the market goes.
Here is my current positions:
- Last 5 days i keep short AUD/USD. Every morning i woke up if price went up .73xx then i add 1 short. Total 5 short so far. My first target is .65
- When crude oil was around $60 (May-Jun), if it went up $60.xx, just add more short. And you can see how much oil now.
BullShit BearShit
  • #53
  • Jul 31, 2015 7:05am Jul 31, 2015 7:05am
Quoting etrade360
{quote} Because you don't know where the market goes. Here is my current positions: - Last 5 days i keep short AUD/USD. Every morning i woke up if price went up .73xx then i add 1 short. Total 5 short so far. My first target is .65 - When crude oil was around $60 (May-Jun), if it went up $60.xx, just add more short. And you can see how much oil now.
Since this is a Rookie Talk section just a serious warning: adding to the losing trades is a recipe for account destruction.
Better to be stopped out with a small (but survivable loss). Do add to the winning trades!
Have a bigger bet going when you are winning than when you are losing.

k
  • #54
  • Edited 7:35am Jul 31, 2015 7:23am | Edited 7:35am
Quoting kprsa
{quote} Since this is a Rookie Talk section just a serious warning: adding to the losing trades is a recipe for account destruction. Better to be stopped out with a small (but survivable loss). Do add to the winning trades! Have a bigger bet going when you are winning than when you are losing. k
Once again, if you know where the market goes, you don't care who is the fucking people in Rookie Talk section . I added short on oil @ $60.xx because i knew it could not go up more, and now i'm on long profit. Overall, this is my trade, my plans, and i come here just for fun, not for learn from here at all or judge any body. I would share my trading plans if whoever would like to.
BullShit BearShit
  • #55
  • Jul 31, 2015 7:42am Jul 31, 2015 7:42am
Quoting etrade360
{quote} Once again, if you know where the market goes, you don't care who is the fucking people in Rookie Talk section . I added short on oil @ $60.xx because i knew it could not go up more, and now i'm on long profit. Overall, this is my trade, my plans, and i come here just for fun, not for learn from here at all or judge any body. I would share my trading plans if whoever would like to.
If.
  • #56
  • Jul 31, 2015 7:50am Jul 31, 2015 7:50am
Quoting kprsa
{quote} If.
This word for whom needed to learn how to know/see where the market goes, it's not for me. By the way, i give up here. Good luck.
BullShit BearShit
  • #57
  • Jul 31, 2015 7:58am Jul 31, 2015 7:58am
Quoting kprsa
{quote} Since this is a Rookie Talk section just a serious warning: adding to the losing trades is a recipe for account destruction. Better to be stopped out with a small (but survivable loss). Do add to the winning trades! Have a bigger bet going when you are winning than when you are losing. k
Yes - excellent advice.
  • #58
  • Jul 31, 2015 8:15am Jul 31, 2015 8:15am
Quoting etrade360
{quote} By the way, i give up here. Good luck.
Thanks for leaving this Thread "etrade360" - You give us nothing.
Thanks to all Others for sharing your Mind here - its very helpful.
  • #59
  • Jul 31, 2015 8:21am Jul 31, 2015 8:21am
Quoting Treptowjens
{quote} Thanks for leaving this Thread "etrade360" - You give us nothing. Thanks to all Others for sharing your Mind here - its very helpful.
You'r welcome and thanks for don't know you
Yes i didn't give you anything because you're not the guy i given
I agree 90% of traders fail is true
Enjoy your 90% of traders fail group. You're one of them
BullShit BearShit
  • #60
  • Jul 31, 2015 8:41am Jul 31, 2015 8:41am
Quoting etrade360
Traders lose because: - don't know where the market goes. - trade by time frames, not by price. - trade by "magic" indicators, not by price. - trade by patterns, not by price. - trade by candlesticks, renko..., not by price. - greedy but blind. - listen to stupid traders. - and repeat and repeat and repeat all those above
+1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
1 trader viewing now