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What Would You Do Differently Today for Better Trading Results?

  • #181
  • Aug 7, 2016 1:00pm Aug 7, 2016 1:00pm
Quoting KeenPips
Principle: Having enough money in your trading account to trade tomorrow or whenever the best opportunities present themselves is more important than just chasing profits/price and being reckless in your trading. Do you agree with this principle? How has this helped you in your trading career? Is there anything you learnt last week that could help you trade better this week? KP
I open a position and still can sleep soundly even drawdown 10000 pips. that is my principle, on the market forever. do not care when get profit, what I care is equity growth.
the gambler
the devils apprentice Return Today: na
  • #182
  • Aug 7, 2016 1:05pm Aug 7, 2016 1:05pm
Quoting Soekarno
{quote} I open a position and still can sleep soundly even drawdown 10000 pips. that is my principle, on the market forever. do not care when get profit, what I care is equity growth.
May be you have unlimited capital or you don't use stop losses. Capital protection is seen to be more important than hoping to build equity, that is what most successful traders do. Trade safe.
Do your homework, follow the footprints of smart money
  • #183
  • Aug 7, 2016 1:18pm Aug 7, 2016 1:18pm
Quoting KeenPips
{quote} May be you have unlimited capital or you don't use stop losses. Capital protection is seen to be more important than hoping to build equity, that is what most successful traders do. Trade safe.
yes capital protection that the cornerstone. and lucky for retail player there some feature that give benefit. 1. no swap account(never got negative interest on roll over position) 2. hedge feature.
for me better play long marathon style than pursuit a day trader.
the gambler
the devils apprentice Return Today: na
  • #184
  • Aug 7, 2016 1:47pm Aug 7, 2016 1:47pm
recently, scalping is seems more benefitable trading method to me.
-Do not resist markets and trends.
-Build your strategy
-You need to be open and sharp mind. Dont let emoitions involve to your strategy.
-Get a position moderaterly measure of lots so you can bear.
  • #185
  • Aug 7, 2016 1:52pm Aug 7, 2016 1:52pm
Remember this nugget:

'I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.' – Paul Tudor Jones, Market Wizard
Do your homework, follow the footprints of smart money
  • #186
  • Aug 7, 2016 1:54pm Aug 7, 2016 1:54pm
I learned that I leave $$$ on the table. That I should let winner run as long as possible.


Quoting KeenPips
Trading better today, and every day, is key to consistent trading success. What did you learn last week that could enhance your trading this week? For me, one thing I learnt last week is to maser a few pairs and trade less of them. KP
Its all in the mind.
  • #187
  • Aug 7, 2016 1:56pm Aug 7, 2016 1:56pm
Quoting 5abi
I learned that I leave $$$ on the table. That I should let winner run as long as possible. {quote}
Yes, when the market condition favours your trade.
Do your homework, follow the footprints of smart money
  • #188
  • Aug 8, 2016 11:57am Aug 8, 2016 11:57am
One of the things I learnt recently is to reduce the number of indicators I use to the barest minimum; the fewer the better, so to say. Therefore, in the last few weeks I have been re-analyzing the indicators I use so that I can have only two strongly complementary ones. What about you? Do you find using a few complementary indicators more helpful than using many indicators?
Do your homework, follow the footprints of smart money
  • #189
  • Aug 8, 2016 1:09pm Aug 8, 2016 1:09pm
Quoting KeenPips
One of the things I learnt recently is to reduce the number of indicators I use to the barest minimum; the fewer the better, so to say. Therefore, in the last few weeks I have been re-analyzing the indicators I use so that I can have only two strongly complementary ones. What about you? Do you find using a few complementary indicators more helpful than using many indicators?
Indicators don't indicate anything other than give you a 'signal' to enter far too late. They are the biggest sham in the whole industry.
  • #190
  • Aug 8, 2016 1:20pm Aug 8, 2016 1:20pm
Quoting GDR3k
{quote} Indicators don't indicate anything other than give you a 'signal' to enter far too late. They are the biggest sham in the whole industry.
Good to know that you don't use indicators m8. Many others do with very good results. Imho it is the nonsensical use of many rather confusing indicators that is the problem. Even your candle stick patterns are 'indicators' of a sort. Your trading style and strategy determine how well you do with the 'indicators' you choose to use.

KP
Do your homework, follow the footprints of smart money
  • #191
  • Aug 8, 2016 2:43pm Aug 8, 2016 2:43pm
take profit

now:

perfect trading in Honolulu now that quit teaching - wish I could have taught 6th gr special ed gamers about forex - all of them are likely assuming the military work their parents do is the best option given the reality not the spin of the USA.... Honolulu -- which might be the worst possible location for a trader time wise. Being in the US is among the worst possible places otherwise but as I always say, look around there are solutions being found.

learning what tends to happen in different sessions and narrowing focus for ways to handle most profitable pairs

physical exercise to keep grounded; believe it or not! I am on the my name for it.... Beretania Street Collection Crew for about 2 hrs a day collecting bottles/cans now that I no longer have my 1 1/2 hr stress buster bike commute each way to school

particular pairs during appropriate sessions only

find the average volatility on higher time frames esp daily for appropriate session pairs
http://www.myfxbook.com/forex-market/volatility

using lines in various ways focusing on London and what happens/happened before it - wanted to focus on nyc birth place had to make a choice; learned from www.forexcrunch.com that the pound is actually a very old currency and I love history so now I'm reconciled to focusing on London*

barely look at gold until it gets to value

*break out strategies on higher time frames currently 'fascinating'

added: use 55 EMA and 21 EMA as support and resistance esp on higher tframes and size position correctly
  • #192
  • Aug 8, 2016 2:51pm Aug 8, 2016 2:51pm
Quoting Greenstar
take profit now: perfect trading in Honolulu now that quit teaching - wish I could have taught 6th gr special ed gamers about forex - all of them are likely assuming the military work their parents do is the best option given the reality not the spin of the USA....particular pairs during appropriate sessions only find the average volatility on higher time frames esp daily for appropriate session pairs http://www.myfxbook.com/forex-market/volatility using lines in various ways focusing on London and what happens/happened before it...so...
So, GS, what did you learn recently? Has your recent trading experience helped to make you a better trader? Green pips.
Do your homework, follow the footprints of smart money
  • #193
  • Aug 9, 2016 11:54am Aug 9, 2016 11:54am
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
This refers basically to radiation
  • #194
  • Aug 9, 2016 12:15pm Aug 9, 2016 12:15pm
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.
What if your system / set of rules allows for deviations? What if the rules say that the rules can be changed, but still specify precisely under what condition and in what particular ways they may be changed?
  • #195
  • Aug 9, 2016 12:46pm Aug 9, 2016 12:46pm
Quoting NeilBower
{quote} What if your system / set of rules allows for deviations? What if the rules say that the rules can be changed, but still specify precisely under what condition and in what particular ways they may be changed?
Yes, stick to the rules you set. If your rules say that you can change, then do that. At any rate the original issue LG was talking about is that we should not be hopping systems, hopping from one system to another in search of the 'Holy Grail.' Nevertheless, if there is a palpable deficiency in our system, we should fix it or make it highly functional and efficient.

KP
Do your homework, follow the footprints of smart money
  • #196
  • Aug 9, 2016 12:49pm Aug 9, 2016 12:49pm
Quoting Allchart
{quote} This refers basically to radiation
The gentleman was telling us not to over-trade.

KP
Do your homework, follow the footprints of smart money
  • #197
  • Aug 10, 2016 5:01am Aug 10, 2016 5:01am
Quoting NeilBower
{quote} What if your system / set of rules allows for deviations? What if the rules say that the rules can be changed, but still specify precisely under what condition and in what particular ways they may be changed?
If a system allows for deviations technically they wouldn't be deviations as they're part of the system, aren't they?
  • #198
  • Aug 10, 2016 5:04am Aug 10, 2016 5:04am
Quoting mlawson71
{quote} If a system allows for deviations technically they wouldn't be deviations as they're part of the system, aren't they?
Do your homework, follow the footprints of smart money
  • #199
  • Aug 10, 2016 4:15pm Aug 10, 2016 4:15pm
Here is a quotation from Michael Carr:

‘Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets.’

Are you applying this principle in your trading? How is it helping you to achieve profitable trading results?
Do your homework, follow the footprints of smart money
  • #200
  • Aug 11, 2016 2:51pm Aug 11, 2016 2:51pm
If you are being influenced by the delusive idea that a trader must always win and should never lose, do your best to face reality. This business is about winning some and losing some; the key issue is to achieve consistent efficiency and sustainable profitability in the long run. Trade safe.
Do your homework, follow the footprints of smart money
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