My approach in trading

This thread is dedicated to all those members who know what they are doing and what they expecting while trading (as in life too). I think this is the key to..success.

I'm just considering to share my humble experience and knowledge (if any interested) in the trading world after 5 years in camp. By any meaning, i don't consider myself succesful. After all, iam only 5 years old!

This forum is full of good threads but my knowledge had come from my own experience and by a few members that had the time to post a handfull of words about their trading. The succeed they just haven't infinite time to posting and answer a rain of question. They appear and gone

Before any of us considering to take part of the trading world must think that the place is full of clever, best equiped people that allready they making profits costantly. So, if you make any dream based on trading you must act with respect and possessing high intelligence and awareness skills, to nane a few for starting

After practicing (in real) and reading a lot, i don't believe everything is told me. I hold a few as the truth.

First of all i don't believe in fundamental theory as a retail trader like me. You can make a laugh on this. When any real fundamental new is on the wires is just already past

From the begining of my experience i tried already 4 to 5 brokers. If you select one of the very trusted (preferably not offshore) makes no difference. They don't want to steel your money but they don't cry if you lose all of your capital. Slippage, requotes, widened spreads, latence, exists and they are here (ps. I'm refering to higher lot positions and well capitalized accounts).

Don't waste your time to find the perfect online broker, unless you meeting him physically and take different accords. Pass it on.

Resolving the question broker i think its time for a trading plan.
Mines is named: quantifiable edge+positive expectancy+proper MM.

Most of the times i read you have to master one trading method, make patience and follow it.

When i learn a foreign language is dangerous to learn a second one or a third?

I mastered and optimize 4 different strategies that fits to me and in some cases i use in combination. In such a case i have a plenty choice of set ups in any TF (from intraday to swing-long term setups).

The key is to know is what you are doing exactly in any trading strategy and what you expect. All these in advance, offcourse.

I know in advance the pattern iam looking for..before enter any position.

And i know in advance where the SL must placed to protect from painful situations.

I try to learn in advance where to risk more with a higher position and where to take smaller risk. I have to make the more possible profits from the very few finest setups and don't believing to take the same risk in every trade, even with big capital a disposition

By the way, i don't feel ready to trade any kind of rational strategy the next 2-3 weeks while is looming the British referendum. I prefer not to lose the capital a dispotition. Maybe i will save screenshots of bloodbarh price action for reference in future. This year seems impossible to trade ahead of US Presidential election too. lol

thank you for sharing! I have been trading for nearly 10 years .... options, stocks, mini-futures and in the past 5 years or so FX. Only recently can I consider myself SUCCESSFUL, and this is because I have placed ALL of my attention to my mindset, perceptions and beliefs. I was part of many trading groups, forums etc etc I have seen with my own eyes and also many friends of mine lose all their accounts, end up in divorce.... I didn't know back then what makes or breaks you as a trader. I now know without a shadow of a doubt it starts and ends only with YOU. This is difficult to teach and that is why there are hardly any companies teaching you this out there. Most trading businesses teach you analysis and trading strategies (which I have bought over and over again in the past!), but none of that works unless your mind is right, you have no underlying beliefs that will sabotage you. This work is not easy and most people are not equipped or have no idea how to start working on this but it is the only way. This is my experience.

Great experience! What kind of attention you place on your mindset, perception and beliefs? I know is a long story but please give us some details

Yes it is a long process but it needn't be with the right mentor. I read the 2 books of Mark Douglas but I also read and follow other people like for eg Dr Joe DiSpenza, I do his meditations. Having a very simple FX strategy is enough to make money on a regular basis. Expending so much energy on analysis is a never ending black hole .... there are questions you need to ask yourself , such as Have I been brought up as a kid, that money doesn't grow on trees? to earn money I must give a service? these are just 2 questions which might not apply to everyone but you get the idea. I have been working on myself non-stop for the past 5 years and the last stretch I got help from a business mindset consultant and that was what has propelled me to success. To be successful you need to have a trader's mindset, to think like a successful trader and this is not a NATURAL way of thinking! or rather to think the way the general population thinks ....

So another key to success is find the right mindset and keep it constantly. I lack the last one..

I mean, i can keep a right mindset for weeks or months and be profitable but more later taking the wrong way.

Till now it didn't happen to search any kind of help from anyone (not trading ideas). No one around me trading FX or any other kind of market. Now, how you help yourself constantly, in this specific business, to keep thinking right and be profitable over "long" time?

Believe me, i had traded a lot, keeping low leverage, not overtrading and making very very much K's, but not capable to keep them. I'm not yet ready to name it a durable and profitable business.

The most successful businessman they have their consultants. How we think to be really successful, us as retailers without any kind of constant help?

Everybody feel free to post your experience in this specific argument (not promoting anything)

it needs more a decade be a mastery (building ourself), but lot of people take the wrong path not building ourself but looking weapon outside.

... but lot of people take the wrong path not building ourself but looking weapon outside.[/quote]

This is just right Soekarno, but maybe you need outside help to find your inside's weapons

yes it is true that is why only 5% of traders are successful because few people want to do the inner work, they keep running after some outsude magic strategy that will give them what they want, as in everything else in life, it doesn't work that way.

anlod, it is not about KEEPING the right mindset .... once you figure out which beliefs are holding you back from being consistently profitable and you work to believe something else which supports your goals , once you have a different belief the work is done..... beliefs are the backbone of everything in our life but for some weird reason most people are not aware which and what beliefs are running them and their lives.

Soekarno, I do not agree that it needs more than a decade, it depends on the particular individual, his/her upbringing etc but yes I completely agree with you that one has to look inside and not outside for the answers. A mentor can help you by directing you but ultimately no one can hold beliefs but yourself. We all see the world and therefore CHARTS/OPPORTUNITIES IN THE MARKET differently as we all have different beliefs and perspectives.

This is just right Soekarno, but maybe you need outside help to find your inside's weapons[/quote]
in my opinion, I said in my opinion because do not want create a debate which maybe will never ending.
1. forex is not trading, this market is battlefield. you lose someone win and take your money.
2. all the player in this forex is predator actively or nonactive, active mean join to the battle to get money from "market which actually battlefield", non active mean some people who call or claim themselves as gurus, system teaching, mentoring, system selling etc. why I said all is predator including myself? number 1 I wrote this is win lose game, dead or alive. so its nonsense to teach something powerful or give an arsenal weapon to someone that someday maybe will become an enemy. I will tell my arsenal weapon but will charge super high for me to prepare to retired. my statement is not intend to attack all the gurus (again this my opinion).
3. the big false and mistake who want to enter this battlefield is learning on the first day "chart with all stuff on that matter" and year by year call it for building a system, and that big false smoothing with term "money management" to covering great liars. lot of people accept a term on this forex "liquidity provider bank", that said an institution who have and give a liquidity to the market. I will ask one simple question "whose money? money belong to whom?" its OUR MONEY, all people money who enter on this field. its nonsense that bank will give their money to us

this is battlefield, we will never get help from enemy. when I win I got money, that money maybe is your money, maybe your friend's money etc.

forgive me if I wrote harsh and cruel sentences

yes, I just write famous phrase to get a picture that all matter is need a process.

soekarno thank you for your input, forgive me for being brutally honest but you are not making any sense. I might be missing your point but I doubt it. Enjoy your battles in the trading world