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What Would You Do Differently Today for Better Trading Results?

  • #21
  • May 5, 2016 8:39am May 5, 2016 8:39am
Quoting mytrader1961
.... Tip - after decades of trading- there are 2 reasons a trade has not worked out - the markets proved you wrong or the trader did something wrong. Occasionally there will be brokers issues. MT
Thanks MT.
Do your homework, follow the footprints of smart money
  • #22
  • May 5, 2016 12:26pm May 5, 2016 12:26pm
Here is a quote I love:

'The less time I am in the market, the less risk I am taking.' – Mark Minervini, a Market Wizard.

Can you learn from this? How would this help you approach the market differently tomorrow or next week?

KP
Do your homework, follow the footprints of smart money
  • #23
  • May 6, 2016 1:01am May 6, 2016 1:01am
Well said lizard

Quoting LizardGizzard
Never deviate from your system. After some success, you will be tempted to outsmart the markets (which you can't). Have a definable set of rules and stick with them. Being consistent, slow and steady is vital.
  • #24
  • May 6, 2016 1:01am May 6, 2016 1:01am
Quoting KeenPips
Here is a quote I love: 'The less time I am in the market, the less risk I am taking.' Mark Minervini, a Market Wizard. Can you learn from this? How would this help you approach the market differently tomorrow or next week? KP
Great quote and great thread by the way, Keenpips!!
  • #25
  • May 6, 2016 1:41am May 6, 2016 1:41am
Hi Keenpips,

One of the important lessons I have learned is not to hide from your losing Trades.

Learn from them, embrace them don't deny them .

We will all have losing Trades and runs of losing Trades it's during these times that we discover a lot about ourselves.

We will certainly discover how much faith we have in the System/Method we Trade.

This leads on to keeping records of the Trades we take and knowing the edge our System/Method contains.

Knowing what to expect, in terms of losing Trades, means we will be prepared for the Draw Down we will encounter.

If we think we can handle 30% of Draw Down half it to 15% and use Trade Management to match.

If we think our system will encounter eight losers in a row factor in Trader Management for twelve or even sixteen losers in a row.

It might sound negative focusing on losing Trades but by doing this we will stay in the "Game".

If our focus is making money we will lose, our focus has to be on becoming a "Trader" and accepting the commitment this entails.

If our focus is to become as good a Trader as we can Money will be the consequence of this.

Conserving our Trading Capital should be our main focus.
  • #26
  • May 6, 2016 2:17am May 6, 2016 2:17am
Thanks mytrader; very encouraging

Quoting mytrader1961
Well said lizard {quote}
Do your homework, follow the footprints of smart money
  • #27
  • May 6, 2016 2:19am May 6, 2016 2:19am
Quoting stevepatt
Hi Keenpips, One of the important lessons I have learned is not to hide from your losing Trades. Learn from them, embrace them don't deny them . We will all have losing Trades and runs of losing Trades it's during these times that we discover a lot about ourselves. We will certainly discover how much faith we have in the System/Method we Trade....If our focus is making money we will lose, our focus has to be on becoming a "Trader" and accepting the commitment this entails. If our focus is to become as good a Trader as we can Money will be the consequence...
Vintage Stevepatt
Do your homework, follow the footprints of smart money
  • #28
  • May 6, 2016 2:19am May 6, 2016 2:19am
Great post, Steve




Quoting stevepatt
Hi Keenpips, One of the important lessons I have learned is not to hide from your losing Trades. Learn from them, embrace them don't deny them . We will all have losing Trades and runs of losing Trades it's during these times that we discover a lot about ourselves. We will certainly discover how much faith we have in the System/Method we Trade. This leads on to keeping records of the Trades we take and knowing the edge our System/Method contains. Knowing what to expect, in terms of losing Trades, means we will be prepared for the Draw Down we will...
  • #29
  • May 8, 2016 12:11pm May 8, 2016 12:11pm
Sunday is usually the day to review the previous week's trading performance and to prepare for the new week. As past performance does not guarantee future success, what did you learn last week that would help you trade better this week? Share it here. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #30
  • May 9, 2016 5:21am May 9, 2016 5:21am
New week but same trading challenges. Are you getting better equipped to tackle your trading challenges? What did you learn last week that would help you better tackle this week's trading challenges and offer you better trading results?

KP
Do your homework, follow the footprints of smart money
  • #31
  • May 9, 2016 6:10am May 9, 2016 6:10am
Quoting KeenPips
New week but same trading challenges. Are you getting better equipped to tackle your trading challenges? What did you learn last week that would help you better tackle this week's trading challenges and offer you better trading results? KP

A key lesson I learnt last week is: to wait longer and be more patient for significant price action to unfold. What about you, what did you learn last week that you can apply for better trading today?
Do your homework, follow the footprints of smart money
  • #32
  • May 9, 2016 11:42am May 9, 2016 11:42am
As past performance does not guarantee future success, what did you learn last week that would help you trade better this week?

KP
Do your homework, follow the footprints of smart money
  • #33
  • May 10, 2016 2:00am May 10, 2016 2:00am
Continuous learning and improvement is key to consistent trading success. What did you learn recently, say last week, that would help you trade differently today for better results?

KP
Do your homework, follow the footprints of smart money
  • #34
  • May 10, 2016 2:47am May 10, 2016 2:47am
i am learning to stop self sabotaging my effort....infact its the only thing i want to continue learning everyday.....i have wasted lots of years, burnt several account not because am not good at analyzing or having a proven edge but because of deliberate self sabotage...
now i work on self sabotage and unconscious want of being in control when its obvious i have not control over anything as per trading
  • #35
  • May 10, 2016 5:09am May 10, 2016 5:09am
Thanks for your candor BJ. We all need to work on our psychology to succeed in this business; discipline, self-control and patience will do us all good. Green pips to you.

KP

Quoting beejay
i am learning to stop self sabotaging my effort....infact its the only thing i want to continue learning everyday.....i have wasted lots of years, burnt several account not because am not good at analyzing or having a proven edge but because of deliberate self sabotage... now i work on self sabotage and unconscious want of being in control when its obvious i have not control over anything as per trading
Do your homework, follow the footprints of smart money
  • #36
  • May 10, 2016 5:25am May 10, 2016 5:25am
I trade gold, I should just stick to trading between 13:00 and 18:00 CET then are the markets at it's best: most liquied and best signals ... outside of these hours is asking for trouble with my setups ...
  • #37
  • May 10, 2016 5:28am May 10, 2016 5:28am
Quoting cvds16
I trade gold, I should just stick to trading between 13:00 and 18:00 CET then are the markets at it's best: most liquied and best signals ... outside of these hours is asking for trouble with my setups ...
So the time of day matters Cvds? Thank you. Definitely, it's important to know the character of your pairs.
Do your homework, follow the footprints of smart money
  • #38
  • May 11, 2016 2:39am May 11, 2016 2:39am
Every day presents an opportunity for learning and growth. What did you learn yesterday or last week that would help you trade better for greater success today?

KP
Do your homework, follow the footprints of smart money
  • #39
  • May 11, 2016 9:45am May 11, 2016 9:45am
'Give me six hours to chop down a tree and I will spend the first four sharpening the axe.' – Abraham Lincoln

How would you apply this quote to be a better trader? What would you do differently tomorrow or next week?

KP
Do your homework, follow the footprints of smart money
  • #40
  • May 11, 2016 9:49am May 11, 2016 9:49am
what I would do differently is spend more time on the weekly, daily and 4H charts and how they work in combination .before I'd go to lower tf's ... wasted tons of time there trying to be smart ... and find a few good working indicators and learning to interpret them ... I became very fond of slow stochastics (14;3) and the classic macd ... you'd be surprised what you can get out of those if you apply yourself ...
over 10.000 hours starting at smaller tf's and ten years of time wasted that way ... but all's well that ends well ...
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