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What Would You Do Differently Today for Better Trading Results?

  • #221
  • Aug 22, 2016 12:32pm Aug 22, 2016 12:32pm
Just my 10 cents:

Do you pride yourself on trading primarily by technicals? You need the fuel of fundamentals to power your overall technical outlook for consistent profitability.

KP
Do your homework, follow the footprints of smart money
  • #222
  • Aug 23, 2016 3:43am Aug 23, 2016 3:43am
One of the pastimes of many a trader, my humble self included, is visiting the system threads of trading forums. Why? In search of the 'Holy Grail.' But after a few years of searching, I have found that there is no 'Holy Grail' anywhere. And if you are not well focused and careful enough, you will get befuddled, and perhaps vanquished, by the variegated systems out there. It is important to learn very early in one's trading career one or two functional systems and try them out over a long period of time to see which of them is more efficient and could offer consistent profitability.

KP
Do your homework, follow the footprints of smart money
  • #223
  • Aug 23, 2016 3:50am Aug 23, 2016 3:50am
Quoting KeenPips
One of the pastimes of many a trader, my humble self included, is visiting the system threads of trading forums. Why? In search of the 'Holy Grail.' But after a few years of searching, I have found that there is no 'Holy Grail' anywhere. And if you are not well focused and careful enough, you will get befuddled, and perhaps vanquished, by the variegated systems out there. It is important to learn very early in one's trading career one or two functional systems and try them out over a long period of time to see which of them is more efficient and...
Dump systems hopping! Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #224
  • Aug 23, 2016 3:52am Aug 23, 2016 3:52am
I'd feel wealthy before I sit down to trade


Not sit down to trade to feel wealthy


But what is wealth? That is the catch
Time hides Nothing
  • #225
  • Aug 23, 2016 4:02am Aug 23, 2016 4:02am
Quoting CindyXXXX
I'd feel wealthy before I sit down to trade Not sit down to trade to feel wealthy But what is wealth? That is the catch
Thanks, bro. Your mindset is key. If you are desperate for quid you will make a whole load of mistakes in trading. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #226
  • Aug 23, 2016 5:05am Aug 23, 2016 5:05am
Quoting KeenPips
{quote} Thanks, bro. Your mindset is key. If you are desperate for quid you will make a whole load of mistakes in trading. Trade safe. KP
hey no worries ..
It goes deeper than mind set, its nothing you can fake and fix with knowledge. Internalization which requires months of conscious effort is not done through the mind but through actions. The catch is that these actions are born in the mind. So what came first the chicken or the egg? I think they came together...

Attached Image
Time hides Nothing
  • #227
  • Aug 28, 2016 3:31am Aug 28, 2016 3:31am
I look for efficient ways to do my weekly scan and analysis to reduce the time I put in. One of the things I learnt and chose to do after two weeks of review is to rationalize the pairs I watch and also to streamline the weekly scanning process. After the review, I chose to drop two pairs from my watch list for this week and I was able to reduce my weekly scanning process from seven steps to five. Would you like to share what you learnt recently that could help you trade better? Share it here! Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #228
  • Sep 1, 2016 2:41am Sep 1, 2016 2:41am
Periodic review of your trades, trading strategies and techniques would lead to better trading results. During the week, I did a thorough review of my trading system and decided to streamline the technical items I use in order to obtain better market tracking and analysis. What about you? When last did you do any review regarding your trading? What did you learn from such a review?

KP
Do your homework, follow the footprints of smart money
  • #229
  • Sep 1, 2016 2:59am Sep 1, 2016 2:59am
What Would You Do Differently Today for Better Trading Results? is the question which implies if I had my time over again what would I do differently, the simple answer is I would wait until I knew what I was doing before trading live and blowing the account. Being a slow learner I did it again, when I am asked why I just say how many times on Saturday/Sunday morning did you say "never again"? it is in our nature to overestimate out abilities and not get proper training, and or to take risks but we are not better off for giving in to these weaknesses. Short answer again....wait until I knew what I was doing before trading live
  • #230
  • Sep 1, 2016 8:03am Sep 1, 2016 8:03am
Quoting qp2
What Would You Do Differently Today for Better Trading Results? ....the simple answer is I would wait until I knew what I was doing before trading live and blowing the account...it is in our nature to overestimate out abilities and not get proper training, and or to take risks but we are not better off for giving in to these weaknesses. Short answer again....wait until I knew what I was doing before trading live

Thanks for your candour. We all fall into the bad habit of being too much in a hurry and trading in a rush. The market will be there tomorrow but would we have the fund to trade when the market presents the best opportunities tomorrow?

KP
Do your homework, follow the footprints of smart money
  • #231
  • Sep 2, 2016 4:11am Sep 2, 2016 4:11am
Just my 10 cents:

Don't use too many technical indicators or technical indicators that don't perform complementary roles. Use a few (for me a max of 3) complementary technical indicators as part of a few significant confluence factors to track, stalk and trap the market/price action.

KP
Do your homework, follow the footprints of smart money
  • #232
  • Sep 4, 2016 11:49am Sep 4, 2016 11:49am
'The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless.’ Jack Schwager , Author of Market Wizards

Do you subscribe to the above principle?
Do your homework, follow the footprints of smart money
  • #233
  • Sep 6, 2016 8:11am Sep 6, 2016 8:11am
I rarely trade on Mondays. In fact, I prefer to watch the market on Monday and see how my analyses for the week are shaping up. What is your take-away from yesterday’s trading? Did you notice or learn anything of any significance? Share it here!

KP.
Do your homework, follow the footprints of smart money
  • #234
  • Sep 6, 2016 8:15am Sep 6, 2016 8:15am
I learned that I need to incorporate 4H and daily charts for trend direction in my indicators. I learned that my signals are either on 15M or 30M.
  • #235
  • Sep 6, 2016 8:18am Sep 6, 2016 8:18am
Quoting cvds16
I learned that I need to incorporate 4H and daily charts for trend direction in my indicators. I learned that my signals are either on 15M or 30M.
Hi, M8! Long time. Nice to hear your viewpoint. Talking seriously, we need higher time frames to have clarity and greater confidence on lower time frame set-ups and entries. Trade safe.
Do your homework, follow the footprints of smart money
  • #236
  • Sep 7, 2016 6:14am Sep 7, 2016 6:14am
Did you notice or learn anything significant in your trading yesterday? Trade safe.
Do your homework, follow the footprints of smart money
  • #237
  • Sep 7, 2016 6:37am Sep 7, 2016 6:37am
I'm practicing being objective by identifying higher highs and higher lows or vice versa to clearly define the swing or trend on daily(if any). It seems obvious but many times for me is not, as my rational mind is trying to find correlations between pairs distorting my perception.Second I'm practicing to stay as close as possible to the 0.5% risk per pair. Last but not least I'm practicing getting at the break even point or better ASAP (in 1-2 days).
Keep alive a genuine winning attitude
  • #238
  • Sep 7, 2016 10:23am Sep 7, 2016 10:23am
Quoting Thehumble
I'm practicing being objective by identifying higher highs and higher lows or vice versa to clearly define the swing or trend on daily(if any). It seems obvious but many times for me is not, as my rational mind is trying to find correlations between pairs distorting my perception.Second I'm practicing to stay as close as possible to the 0.5% risk per pair. Last but not least I'm practicing getting at the break even point or better ASAP (in 1-2 days).
Very good input. Continuous and patient learning is key. Focusing on developing a functional and efficient system you are comfortable with and getting in the habit of cautiously entering trades without rushing or being greedy will go a long way to helping you succeed in your trading career. Trade safe.
Do your homework, follow the footprints of smart money
  • #239
  • Sep 9, 2016 6:28am Sep 9, 2016 6:28am
'Give me six hours to chop down a tree and I will spend the first four sharpening the axe.' – Abraham Lincoln

A fantastic principle to apply to Forex trading. Do you agree?

KP
Do your homework, follow the footprints of smart money
  • #240
  • Sep 9, 2016 8:15am Sep 9, 2016 8:15am
Quoting KeenPips
'Give me six hours to chop down a tree and I will spend the first four sharpening the axe.' Abraham Lincoln A fantastic principle to apply to Forex trading. Do you agree? KP
not realy, sometimes u can lose the train if it takes too much for u to enter a trade but sometimes is good bc u can take a bether position so for me it's 50/50, I think a lot it depends of your strategy, in 1 minut a curency can drop easely 100 pips we all saw that and sometimes after that it can be back on the level before he drop, forex for me is a different dimension from what we know but humans are build to adapt
I need the magic ball
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