How to start like a pro? - afraid to open trades | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why are we afraid of simplicity? 96 replies

Getting a handle to open trades in the open trade tab 3 replies

Seeking Help for Open & Close Trades On New Bar Open 6 replies

Close all open trades if current total open lotsize exceeds"X" 0 replies

Alpari Direct Pro vs Alpari MT4 Pro 4 replies

Attachments: How to start like a pro? - afraid to open trades
Exit Attachments

How to start like a pro? - afraid to open trades

  • #81
  • Sep 25, 2015 5:57am Sep 25, 2015 5:57am
hi,

this is how i define consistent : having the same expected outcome over a longer period of time. within that period, fluctuations can occur but in the long term the result is the same. You ask if I know anyone who is/pretend to be as a consistent winning daytrader, my answer is no. But i do believe they exists, otherwise why have retail trading as an industry in the first place. I honestly do believe there are people out there that make a living out of (day)trading.

About the rules:
If you could quantify and implement such a strategy, they you would be able to eliminate intuition/emotion all together. Such strategy doesnt exist because it contradicts itself. Let winners ride is not something you can quantify, same as when to follow or break a rule. Then you get into intuition vs emotion. The question becomes then: are succesfull traders been born or are they formed. I believe it is the latter one. (ofcourse there should be some fundamental natural skills aswell)
kind regards
if my cat was a cow....
  • #82
  • Sep 25, 2015 6:00am Sep 25, 2015 6:00am
I want to appologize to the original poster that i might have highjacked this thread. I know is not on topic.
Maybe some moderator could migrate it to a new thread....
if my cat was a cow....
  • #83
  • Sep 25, 2015 11:18am Sep 25, 2015 11:18am
Quote
About the rules: If you could quantify and implement such a strategy, they you would be able to eliminate intuition/emotion all together.
You can create such a strategy but it doesn't remove the emotions from trading. It does provide objectivity, which can be useful.
Quote
Such strategy doesnt exist because it contradicts itself. Let winners ride is not something you can quantify
Well, you can create a strategy that objectively defines this in its exit parameters.
Quote
Then you get into intuition vs emotion.
Intuition is a good thing, but if you are not careful you might mistake 'into-wishing' for 'intuition'.
  • #84
  • Sep 28, 2015 3:18am Sep 28, 2015 3:18am
Hi,
Hope you all had a good weekend.
When you talk about strategy, you do or do not mean an automated strategy?
if my cat was a cow....
  • #85
  • Sep 28, 2015 8:41am Sep 28, 2015 8:41am
Quoting Waxy
Hi, Hope you all had a good weekend. When you talk about strategy, you do or do not mean an automated strategy?
Could be either discretionary or mechanical or a mix of both.
  • #86
  • Sep 30, 2015 4:16am Sep 30, 2015 4:16am
Could you tell me a bit more how you do it?
Or in case you be trading for a while, how you got started?
if my cat was a cow....
  • #87
  • Sep 30, 2015 7:34am Sep 30, 2015 7:34am
To me reason seems quite clear. You are trading with money you can't afford to lose. It will put extra pressure on you.
When I started few years ago I had a same issue. I was trading with money I could not afford to lose. Fortunately I did not loose all only small part of it. I decided that I hae to save some money to start trading.

Other thinwhat you can do is to open a really small positions - 0.01 lot's
  • #88
  • Sep 30, 2015 9:29am Sep 30, 2015 9:29am
Quoting Waxy
Could you tell me a bit more how you do it? Or in case you be trading for a while, how you got started?
Its very hard for me to explain. I highly recommend reading Market Wizards by Jack Schwager. His interviews yield timeless lessons.

Start by noticing what all the great speculators had in common.
  • #89
  • Oct 1, 2015 1:10am Oct 1, 2015 1:10am
Hi will make sure to look it up. Thanks for the suggestion.
if my cat was a cow....
  • #90
  • Oct 9, 2015 8:18pm Oct 9, 2015 8:18pm
The demo accounts is such a good thing to try out. I mean I would honestly recommend using them because they can really help you out in the long run. That is the route that I went, and it worked out well for me. The Demo Forex account is essentially a virtual trading platform where you can buy and sell various currencies without risking real money, which is the best part about it. I think that it's a great tool to use if you're thinking about trying out trading.
  • #91
  • Oct 17, 2015 1:27pm Oct 17, 2015 1:27pm
Can relate to the problem, I think you need to gain confidence in demo accounts!
  • #92
  • Oct 19, 2015 6:22am Oct 19, 2015 6:22am
Quoting hamedmohd
i dont know how to start this thread but i can till you that i do my home work about the currencies and how to trade. how to use leverage and trade in demo accounts i put a full staratigy that really it is gain more that it lose (not perfect but good one) but i find very hard to open any trade in live account also if i open some for 2 days i close all of it (with profits) and not open any more i dont like to open any positions any more in live account i dont know may be because i afraid i may lose some money ??!!! i try to put a targets,trading...
the mind is the hardest thing to master, the trading it self is easy,
what you need to do is to use money management, never risk more than 1%
on any trade, then each loss will be tiny and give you piece of mind.
then you need to have the discipline to follow the rules of your strategy.
if you get a signal then you trade, with the proper lot size.
if you find your self straying from the rules, take a brake
Bulls are stupid Animals!especially when Im short!
  • #93
  • Oct 20, 2015 6:56am Oct 20, 2015 6:56am
Trade on demo and build up your confidence, train you hand and mind to open the trades. Then open a real account and try making the smallest possible trades and keep them for relatively short periods so that you don't get extremely nervous and make a mistake.
  • #94
  • Oct 25, 2015 9:05pm Oct 25, 2015 9:05pm
Trading is very risky. That's why most of the new traders were afraid to execute more when they got profit. It's a psychology thing when they're succeed the first step and afraid to do the next move.
  • #95
  • Oct 26, 2015 9:14am Oct 26, 2015 9:14am
Quoting ApipFx
Trading is very risky. That's why most of the new traders were afraid to execute more when they got profit. It's a psychology thing when they're succeed the first step and afraid to do the next move.
A glass of whiskey should help
Just kidding.
  • #96
  • Oct 28, 2015 2:15am Oct 28, 2015 2:15am
Like one trader said, it's a problem about confidence. That means you have to try first, and then can find what's the problem and slove it. I suggest you can try micro live account, such as maybe less than $100 to practise your confidence.
  • #97
  • Oct 28, 2015 5:53am Oct 28, 2015 5:53am
Just my input from my experience;

No one starts off like a pro, the fact you are doing your homework and research is a step further than the rest. Remember trading is something that always need refining even for the professionals.

No footballer became professional overnight, hours of hard work and dedication get them to where they are now.

As most people say - Demo your way through then open a live with a small account and trade small until you build your way to where you want to be.

Rome was not built over night!

Slow and steady

Hope this helps

Happy Pipping
  • #98
  • Nov 1, 2015 9:59pm Nov 1, 2015 9:59pm
Quoting Wannabechamp
Just my input from my experience; No one starts off like a pro, the fact you are doing your homework and research is a step further than the rest. Remember trading is something that always need refining even for the professionals. No footballer became professional overnight, hours of hard work and dedication get them to where they are now. As most people say - Demo your way through then open a live with a small account and trade small until you build your way to where you want to be. Rome was not built over night! Slow and steady Hope this helps...
I agree with this, man. Everyone started from zero, what makes them good is they're always learning and never giving up easily. It may took months or even years for them to become a great trader, but it was really worth it.
  • #99
  • Nov 2, 2015 12:31am Nov 2, 2015 12:31am
Quoting hamedmohd
i dont know how to start this thread but i can till you that i do my home work about the currencies and how to trade. how to use leverage and trade in demo accounts i put a full staratigy that really it is gain more that it lose (not perfect but good one) but i find very hard to open any trade in live account also if i open some for 2 days i close all of it (with profits) and not open any more i dont like to open any positions any more in live account i dont know may be because i afraid i may lose some money ??!!! i try to put a targets,trading...
When I started to trade on a real account, I thought it was just as easy as in the demo. But then I realized that everything is much more complicated. A lot of nerves and emotions because it is real money and it's yours. Cowards for every penny. A week later, I was about to quit. I decided to check out how others do it. I tried a lot of different strategies but stopped until the most simple. It's scalping and trade on the news. It takes a long time but the result is good. In general, I found what I was looking for and now my income is growing. I want to try the strategy Bollinger. I read turned out to be quite interesting. The main thing is not afraid and seek something different.
  • #100
  • Nov 3, 2015 6:34am Nov 3, 2015 6:34am
Quoting hamedmohd
i dont know how to start this thread but i can till you that i do my home work about the currencies and how to trade. how to use leverage and trade in demo accounts i put a full staratigy that really it is gain more that it lose (not perfect but good one) but i find very hard to open any trade in live account also if i open some for 2 days i close all of it (with profits) and not open any more i dont like to open any positions any more in live account i dont know may be because i afraid i may lose some money ??!!! i try to put a targets,trading...
That's no excuse..but since you feel lazy to trade would suggest you go in for a PAMM acc
0 traders viewing now