What are the big Ideas in successful trading? | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Planning: A Key to Successful Trading, by Joe Ross 4 replies

Successful Trading & Determining the Probability of a Trading System 10 replies

Successful Fundamentals trading (DAY Trading WILL BE Ignored) 17 replies

Big Pig's Successful Day Trading 43 replies

Honest answers please! Are you successful trading on Forex or not? 102 replies

Attachments: What are the big Ideas in successful trading?
Exit Attachments

What are the big Ideas in successful trading?

  • #61
  • Jun 5, 2016 8:59am Jun 5, 2016 8:59am
There are no Big ideas in trading, there are just lots and lots of little ideas that reveal themselves to a trader over time as knowledge and experience of the markets build. All this aggregate knowledge does eventually come together to form a whole which manifests itself into a successful trading strategy, but to translate this evolution of trading knowledge into a single post on a forum is obviously not possible.

Although I know most traders are looking for them, there are no big ideas, secrets, short cuts or anything else that can guarantee to shorten the road to profitable trading, except perhaps just two, which are to concentrate on trading with momentum behind you, at least to begin with, and that this road is one hell of a lot longer than the majority of people realize when they first start out.
  • #62
  • Jun 5, 2016 9:08am Jun 5, 2016 9:08am
Quoting TooSlow
{quote} The direction must be right, as well as, the time.
Not really. Idiots like me (IQ 75), care not about the directions. Every direction catching EA will do it right for you...
Maadik Hugiis. IQ 69.
  • #63
  • Jun 6, 2016 11:04am Jun 6, 2016 11:04am
Quoting TooSlow
{quote} Thank you for explaining your interpretation. It is easy to understand. There may be a flaw is your reasoning depending on how you define resistance. Is resistance the point at which price fails the penetrate? Yes would indicate using the high price because price failed to penetrate higher. No would indicate an entirely different definition for resistance. How do you define resistance? What causes resistance in the market? More sellers than buyers at a particular price at a particular time? Yes would indicate your 2D interpretation supports...
S&R is where there is consensus/agreement.
Prices used over time shows resistance.

There was little enthusiasm at prices above 4702 although the buyer at 4710 likely was proving the old Russian proverb "there are two fools in a market, one asks too little, one pays too much". Bidders spent little time at the higher prices, recognizing they were not realistic

Note that value is a range, not just one price. This is because value is found from many votes (bids) and each person voting (bidding) has a somewhat different opinion derived from their biases and their interpretation of the feedback data (the bidding).

There is a resistance outside (above or below) the general consensus/agreement.

Demand can be read from the frequency of times a price has been used

Demand differs at various prices.
A day's recorded summary prices (open, high, low and close/candlesticks) can provide misleading signals: There is typically little trading volume at the highs and lows, so these prices are often not representative of market demand. Likewise, the open and close may well be near the low volume highs and/or lows and themselves may not be representative.

Quoting TooSlow
How do you define resistance?..........What do you believe causes resistance?
Good question..........
From a Auction Market Value Theory perspective, it really doesn't matter what I believe causes resistance. Using market generated info, "price and the time" in which it occurs are market facts. It really doesn't matter what I believe.......resistance is what price says it is. I don't define resistance price does
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 105 KB
Markets are not efficient, rather they are effective - Jones
  • #64
  • Jun 6, 2016 11:21am Jun 6, 2016 11:21am
Quoting mzvega
{quote} S&R is where there is consensus/agreement. Prices used over time shows resistance. There was little enthusiasm at prices above 4702 although the buyer at 4710 likely was proving the old Russian proverb "there are two fools in a market, one asks too little, one pays too much". Bidders spent little time at the higher prices, recognizing they were not realistic Note that value is a range, not just one price. This is because value is found from many votes (bids) and each person voting (bidding) has a somewhat different opinion derived from their...
Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #65
  • Edited 12:31pm Jun 6, 2016 11:30am | Edited 12:31pm
Keep it Simple! Trading like everything else is about ideas. An idea in trading is never too big or too small. An idea is just profitable or not. There could be as much value in blink of an eyes than months of rational analysis. The most profitable idea for me was to realize not to overANALyze the shit out of trading. Now if it goes up, I buy. if it goes down, i sell! I did well and I am planning to go trading full time this year.
Its all in the mind.
  • #66
  • Jul 2, 2016 10:00am Jul 2, 2016 10:00am
As with anything that can measured with a watch, you can use the data to create sample sizes that can be used to predict future outcomes. Every successful business does it. Anyone who lives on a budget does it. If you are not using an indicator to assess the mean, you have no chance. None. Good Luck
You cannot be extraordinary by being normal
  • #67
  • Jul 2, 2016 10:52am Jul 2, 2016 10:52am
There is no idea but simple understanding that work most but unfortunately newbies not understands until they kiked by the market several time.
In last u do what to do... Simple math.... 2 -1 = 1.....
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -117
  • #68
  • Jul 2, 2016 1:35pm Jul 2, 2016 1:35pm
The biggest hidden idea in trading is simple: if you try to catch tops or bottoms of a financial instrument, you will most certainly lose because the probability that can be done is zero almost surely. Therefore, look for recurrent prices instead! Perfect that act and you will be ok!

Most of the time, you will hear people say - buy low and sell high - well that is good in theory but not possible in practice. Do think differently
bless those who hate you! Set yourself higher...
  • #69
  • Jul 2, 2016 2:59pm Jul 2, 2016 2:59pm
Quoting Eurusdx
The biggest hidden idea in trading is simple: if you try to catch tops or bottoms of a financial instrument, you will most certainly lose because the probability that can be done is zero almost surely. Therefore, look for recurrent prices instead! Perfect that act and you will be ok! Most of the time, you will hear people say - buy low and sell high - well that is good in theory but not possible in practice. Do think differently
In up trend buy low on down trend sell high. (After confirmation)..
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -117
  • #70
  • Jul 2, 2016 3:40pm Jul 2, 2016 3:40pm
A worrior said tothe devil < you cant with stand the storm . The devil said > I am the storm .......
  • #71
  • Jul 2, 2016 4:07pm Jul 2, 2016 4:07pm
and a dose of salt .....


Inserted Video
  • #72
  • Jul 2, 2016 5:01pm Jul 2, 2016 5:01pm
Donkeys, tortoises are going to succeed... sharks, lions, tyrannosaurus those are the real preys.
  • #73
  • Jul 2, 2016 6:04pm Jul 2, 2016 6:04pm
Quoting mohsinali
{quote} In up trend buy low on down trend sell high. (After confirmation)..
well you are assuming that the traders knows that the trend is up and that the moment he/she bought, the trend is still up! Trend is a relative word!
bless those who hate you! Set yourself higher...
  • #74
  • Jul 2, 2016 7:57pm Jul 2, 2016 7:57pm
Quoting HeyYou
Donkeys, tortoises are going to succeed... sharks, lions, tyrannosaurus those are the real preys.
In a way you really described the situation, it's vital that we understand Forex has got enough in it to give us massive push, we don't need to show any extra-ordinary effort instead we just need to use common sense and that should do the stuff, but unfortunately people consider themselves lions and all that dangerous things you mention, but all we need is, to be a tortoise.
  • #75
  • Jul 2, 2016 9:36pm Jul 2, 2016 9:36pm
Quoting Neio
Here is a big idea but probably unpopular idea to successful trading... Less is More We are told that we need more information or data (backtesting) and the computation of that data (indicators, analysis) will enable us to make better predictions or decisions in our trading. We are being primed to believe that we need lots of indicators and backtesting in order to be able to trade successfully. This is hurting our ability to trade more naturally and to see the most important factors and ignore the rest. Real cognitive ability in trading is being...
Spot on, Neio. My version of 'Less is More' was to free myself from the PC recently, switching entirely to mobile trading. I discovered that I make much better decisions while on the move than when sitting down, glued to the screen, as if I was in a waiting room. Here's how the change revolutionised my results (no trades were taken during Brexit):

Attached Image (click to enlarge)
Click to Enlarge Name: june2016.png Size: 48 KB



And here are two more big ideas (maybe equally unpopular as Less is More...):

Know Thyself, i.e. your risk tolerance, your fears, the limits of your trading skill, your strengths and weaknesses.
Dare to Let Go: always question what you know and dare to challenge yourself in order to constantly expand your (trading) horizons.

Attached Image
mind over matter
  • #76
  • Jul 3, 2016 3:20am Jul 3, 2016 3:20am
Quoting Fedricks
{quote} In a way you really described the situation, it's vital that we understand Forex has got enough in it to give us massive push, we don't need to show any extra-ordinary effort instead we just need to use common sense and that should do the stuff, but unfortunately people consider themselves lions and all that dangerous things you mention, but all we need is, to be a tortoise.
Yeah the tortoise is slow (carefulness), lives long and it's well protected, the donkey is also careful and veeery persistent. the chimpanzee has a lot of potential too because it also lives long and it can imitate what others (successful animals) are doing. Anyway I was a bit high yesterday when I wrote that... don't take me too seriously
  • #77
  • Jul 6, 2016 11:33am Jul 6, 2016 11:33am
There are so many ideas and advice how to trade successfully, but the number of losers is much more bigger. the main idea in forex is to understand how does it work and read news. that's the main rule that i've learned.
  • #78
  • Jul 7, 2016 10:58am Jul 7, 2016 10:58am
Price will always move away from any line on the chart. The big question is how do we profit knowing this?
  • #79
  • Jul 7, 2016 11:52am Jul 7, 2016 11:52am
Quoting Eurusdx
{quote} well you are assuming that the traders knows that the trend is up and that the moment he/she bought, the trend is still up! Trend is a relative word!
Trading is the game of probability if any one not pridict he can not trade.Problem start when one goes against it to be over smart, because after all 95+++ loooooserr...Market is very smart....
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -117
  • #80
  • Jul 7, 2016 11:57am Jul 7, 2016 11:57am
Quoting strbac
Price will always move away from any line on the chart. The big question is how do we profit knowing this?
Do the simple math 1+1= 2 , 2-1 = 1, 1-2= -1, 0- 5=- 5,,,,,,,,,In last your answer is in positive no....Cheers...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -117
0 traders viewing now