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What Would You Do Differently Today for Better Trading Results?

  • #121
  • Jun 15, 2016 1:14am Jun 15, 2016 1:14am
Does having a profitable trading edge over the market mean that a trader will not experience some losing streaks? If you were to apply what you learnt recently for better trading, which aspects of your trading would you focus upon?
Do your homework, follow the footprints of smart money
  • #122
  • Jun 15, 2016 9:31am Jun 15, 2016 9:31am
Quoting KeenPips
Does having a profitable trading edge over the market mean that a trader will not experience some losing streaks? If you were to apply what you learnt recently for better trading, which aspects of your trading would you focus upon?


Having a profitable trading edge does not mean that you can't have some losing streaks. How your trades pan out overall over a long period of trading is the issue. The ultimate goal is to have an edge that makes you consistently profitable even when you factor in your losses. What do you think? What are you doing to build a profitable trading edge over the market? What mindset should you have?
Do your homework, follow the footprints of smart money
  • #123
  • Jun 20, 2016 7:42am Jun 20, 2016 7:42am
During the past weekend, I was reflecting on the most important thing I learnt recently. It was surprisingly a simple thing: Once you develop a functional trading system, much of what is required for successful trading is about discipline. You should know your system, you should understand your trading rules and what qualifies for most probable trade set ups, and you should practice your system so you are its master; but the mindset for a profitable trading edge and consistent trading success is fashioned by discipline - in all its ramifications. What about you, is there anything you learnt recently that could help you trade better?
Do your homework, follow the footprints of smart money
  • #124
  • Jun 20, 2016 7:50am Jun 20, 2016 7:50am
Quoting KeenPips
During the past weekend, I was reflecting on the most important thing I learnt recently. It was surprisingly a simple thing: Once you develop a functional trading system, much of what is required for successful trading is about discipline. You should know your system, you should understand your trading rules and what qualifies for most probable trade set ups, and you should practice your system so you are its master; but the mindset for a profitable trading edge and consistent trading success is fashioned by discipline - in all its ramifications....
I totally agree. When I first started learning to trade, my discipline was like zero! I've actually written down a list of conditions that I must force myself to abide by before I trade. It seems to work so far!

Last week, I learnt that you should never rely on just one provider for live data...
  • #125
  • Jun 20, 2016 7:53am Jun 20, 2016 7:53am
Quoting Rm2
{quote} I totally agree. When I first started learning to trade, my discipline was like zero! I've actually written down a list of conditions that I must force myself to abide by before I trade. It seems to work so far! Last week, I learnt that you should never rely on just one provider for live data...
Trade safe!
Do your homework, follow the footprints of smart money
  • #126
  • Jun 20, 2016 7:59am Jun 20, 2016 7:59am
i would say i improved a lot since last week. last week i lost a trade, then found myself not following my own rules and doing revenge trade nonsense lol.
  • #127
  • Jun 20, 2016 8:06am Jun 20, 2016 8:06am
Quoting ahmed226
i would say i improved a lot since last week. last week i lost a trade, then found myself not following my own rules and doing revenge trade nonsense lol.
Ahmed, great that you learnt that revenge trading is not good. In trading, we should expect to suffer some loses. However, learning from the losses is what will help make us better traders. Green pips to you.
Do your homework, follow the footprints of smart money
  • #128
  • Jun 20, 2016 8:13am Jun 20, 2016 8:13am
Quoting KeenPips
{quote} Trade safe!
Thanks mate!
  • #129
  • Jun 21, 2016 8:50am Jun 21, 2016 8:50am
What do you do when your trade goes awry?
Do your homework, follow the footprints of smart money
  • #130
  • Jun 21, 2016 9:14am Jun 21, 2016 9:14am
Quoting KeenPips
What do you do when your trade goes awry?


A number of times I have been in a situation when my trade goes awry. I have also come across cases where traders tend to go nuts when their trades become awkward. However, I have learnt that when your trade goes awry, rather than going nuts steel yourself for brighter and better trading.
Do your homework, follow the footprints of smart money
  • #131
  • Jun 23, 2016 12:01pm Jun 23, 2016 12:01pm
Quoting KeenPips
{quote} A number of times I have been in a situation when my trade goes awry. I have also come across cases where traders tend to go nuts when their trades become awkward. However, I have learnt that when your trade goes awry, rather than going nuts steel yourself for brighter and better trading.
The key is affordable trade positioning, together with building a solid discipline based on being comfortable with how you trade.
Do your homework, follow the footprints of smart money
  • #132
  • Jun 27, 2016 4:52am Jun 27, 2016 4:52am
Did you learn anything regarding FX trading last week, particularly from the UK referendum on the EU? For me, I learnt to remain calm and focused. In fact this is critical to gaining a profitable trading edge.
Do your homework, follow the footprints of smart money
  • #133
  • Jun 28, 2016 7:53am Jun 28, 2016 7:53am
Imho, opinion is cheap; more so opinions or predictions by self-proclaimed FX gurus. Do you allow such opinions or predictions to affect how you trade? Has recent events affected how you see or/and trade based on 'opinions' or 'predictions' of gurus?
Do your homework, follow the footprints of smart money
  • #134
  • Jun 29, 2016 8:17am Jun 29, 2016 8:17am
Ever wondered why some FX traders feel the need to always trade - even when their bodies are aching or they are endangering their health? Imho, successful FX trading should give a good life balance; but a somewhat endless trading regime/mode is, in my books, ultimately self-destructive. How do you rate on this? What are you doing differently?
Do your homework, follow the footprints of smart money
  • #135
  • Jun 30, 2016 3:16am Jun 30, 2016 3:16am
Do you hedge? What about using Martingale? Share your opinion on either or your experience using them.
Do your homework, follow the footprints of smart money
  • #136
  • Jun 30, 2016 3:27am Jun 30, 2016 3:27am
hedging is a ridiculous endeavour: you are just fooling yourself ... you might as well take some positions off or take the loss ...
  • #137
  • Jun 30, 2016 3:30am Jun 30, 2016 3:30am
Quoting cvds16
hedging is a ridiculous endeavour: you are just fooling yourself ... you might as well take some positions off or take the loss ...
Cvds, long time. What's up mate?
Do your homework, follow the footprints of smart money
  • #138
  • Jun 30, 2016 3:37am Jun 30, 2016 3:37am
Quoting KeenPips
Do you hedge? What about using Martingale? Share your opinion on either or your experience using them.
I blew a few trading accounts five years ago trading on Martingale. Did I learn my lesson? Not on your life. In fact, I nearly blew another account early this year but now I have learnt to never touch Martingale with a long pole.
Do your homework, follow the footprints of smart money
  • #139
  • Jun 30, 2016 3:52am Jun 30, 2016 3:52am
Quoting KeenPips
Do you hedge? What about using Martingale? Share your opinion on either or your experience using them.


Hedging is a defeatist strategy. When you set your reasonable/affordable sl and get hit, you have another opportunity to reassess/stalk the market for better positioning and trade. Trading with sl gives you confidence in your trading ability and forces you to become a better trader if you manage your trading capital well. Although hedging can make you money, it doesn't help you build a profitable trading edge.
Do your homework, follow the footprints of smart money
  • #140
  • Jun 30, 2016 4:00am Jun 30, 2016 4:00am
What Would You Do Differently Today for Better Trading Results?

I am investing time in automating my strategy. Emotion plays a far greater role than one can envisage.
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