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What Would You Do Differently Today for Better Trading Results?

  • #341
  • Nov 17, 2016 1:22am Nov 17, 2016 1:22am
Are you adopting the '80/20' rule in your Forex trading? Share your views and experience with other traders here. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #342
  • Nov 17, 2016 3:03pm Nov 17, 2016 3:03pm
The '80/20 rule' basically means putting your resources on the few most important things. One way I apply this principle in my Forex trading is putting a lot of my time and effort on market reading and analysis and weekly preparation and planning, I put only 1-2 hours per day on actual trading. Trade safe.

KP


Quoting KeenPips
Are you adopting the '80/20' rule in your Forex trading? Share your views and experience with other traders here. Trade safe. KP
Do your homework, follow the footprints of smart money
  • #343
  • Nov 17, 2016 4:51pm Nov 17, 2016 4:51pm
Quoting Tardigrade
{quote} a. Lower True Leverage True Leverage=Account Balance/Notional Value of Underlying. ex. $100,000 account trade 1 lot of EUR/USD( equivalent of $100,000 Notional Value), True Leverage=100,000/100,000=1 b. Stretches Trading Time-frame Trade daily chart or above, don't trade M5 Chart c. Avoid Foreseeable Economic Event Trade normal hours, avoid news release d. Well-capitalized, have a business plan, don't gamble
You are trading price not chart periods.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #344
  • Nov 17, 2016 5:53pm Nov 17, 2016 5:53pm
Quoting Tardigrade
{quote} a. Lower True Leverage True Leverage=Account Balance/Notional Value of Underlying. ex. $100,000 account trade 1 lot of EUR/USD( equivalent of $100,000 Notional Value), True Leverage=100,000/100,000=1 b. Stretches Trading Time-frame Trade daily chart or above, don't trade M5 Chart c. Avoid Foreseeable Economic Event Trade normal hours, avoid news release d. Well-capitalized, have a business plan, don't gamble
I'm sorry, but your post makes no sense. I tried M1 and trade with $200 just fine.
  • #345
  • Nov 17, 2016 6:10pm Nov 17, 2016 6:10pm
Quoting Tardigrade
{quote} a. Lower True Leverage True Leverage=Account Balance/Notional Value of Underlying. ex. $100,000 account trade 1 lot of EUR/USD( equivalent of $100,000 Notional Value), True Leverage=100,000/100,000=1 b. Stretches Trading Time-frame Trade daily chart or above, don't trade M5 Chart c. Avoid Foreseeable Economic Event Trade normal hours, avoid news release d. Well-capitalized, have a business plan, don't gamble
I find this to be the biggest fallacy being spread across retail forex. In fact the strategy I use incorporates not necessarily trading news events, but the minutes after because it provides tons of liquidity, and moves are usually very smooth and predictable. Big traders are adjusting their positions based on news releases and usually pick a direction to trade, this of course is only after very big news releases but if you look at say a Crude Oil chart, after Crude Oil inventories are released, there is usually a very clean move. I used to spend so much of my time trying to trade around news releases and that really makes forex hard because a lot of times traders will hold off until the news comes and you are forced to trade in a flat market. Most of the money is made by big banks during news hours and most positions are adjusted following it.
  • #346
  • Nov 17, 2016 7:07pm Nov 17, 2016 7:07pm
Quoting rnsfrd
{quote} the strategy I use incorporates not necessarily trading news events, but the minutes after...

...I used to spend so much of my time trying to trade around news releases
aren't these the same thing?
  • #347
  • Edited 4:37am Nov 18, 2016 4:25am | Edited 4:37am
Quoting Noorx
{quote} I'm sorry, but your post makes no sense. I tried M1 and trade with $200 just fine.
Hey, bro! His post makes sense to him; not trading lower tfs is part of his trading rules and we should respect that. According to FF rules, let's show respect to fellow traders. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #348
  • Nov 18, 2016 4:35am Nov 18, 2016 4:35am
Quoting rnsfrd
{quote} I find this to be the biggest fallacy being spread across retail forex. In fact the strategy I use incorporates not necessarily trading news events, but the minutes after because it provides tons of liquidity, and moves are usually very smooth and predictable. Big traders are adjusting their positions based on news releases and usually pick a direction to trade, this of course is only after very big news releases but if you look at say a Crude Oil chart, after Crude Oil inventories are released, there is usually a very clean move. I used...
Different strokes. One's trader's strategy is another's no-go area. You do what makes you money and let's not hit others on the head for what makes them money. Btw, we should not stray from the theme of this thread: What would you do differently for better trading results? What have you learnt recently that could help you be consistently profitable as a trader? Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #349
  • Nov 18, 2016 6:38am Nov 18, 2016 6:38am
Quoting KeenPips
{quote} Hey, bro! His post makes sense to him; not trading lower tfs is part of his trading rules and we should respect that. According to FF rules, let's show respect to fellow traders. Trade safe. KP
Hey friend. Sorry, but people like him generalize everything. I don't think that act is allowed in this site.
  • #350
  • Nov 18, 2016 6:50am Nov 18, 2016 6:50am
Hi, doing things differently today in terms of money management. Following link can provide valuable insights.

http://www.forexfactory.com/showthre...84#post8538084
Prachait Saxena
  • #351
  • Nov 20, 2016 7:14am Nov 20, 2016 7:14am
Quoting TooSlow
{quote} You are trading price not chart periods.

Price behaves differently in different timeframes.
No Highs? No Lows? Must be Bose!
  • #352
  • Nov 20, 2016 7:27am Nov 20, 2016 7:27am
Quoting rnsfrd
{quote} I find this to be the biggest fallacy being spread across retail forex. In fact the strategy I use incorporates not necessarily trading news events, but the minutes after because it provides tons of liquidity, and moves are usually very smooth and predictable. Big traders are adjusting their positions based on news releases and usually pick a direction to trade, this of course is only after very big news releases but if you look at say a Crude Oil chart, after Crude Oil inventories are released, there is usually a very clean move. I used...
Good if it works for you.

I tend to agree with you in terms of not puting a position before the release, there's nothing I can do about it if you jump to the conclusions.
No Highs? No Lows? Must be Bose!
  • #353
  • Nov 20, 2016 7:41am Nov 20, 2016 7:41am
Quoting Tardigrade
{quote} Good if it works for you. I tend to agree with you in terms of not puting a position before the release, there's nothing I can do about it if you jump to the conclusions.
Yea, there are myriads of ways to trade. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #354
  • Nov 20, 2016 7:47am Nov 20, 2016 7:47am
Quoting Noorx
{quote} I'm sorry, but your post makes no sense. I tried M1 and trade with $200 just fine.

Good for you, do as you please.


For people who have realistic expectations about annual return and serious about building a robust trading career?

Have a solid business plan and fund your account to 10k minimum. There's a research paper studying trader failure rate, and one of the primary reasons why most trader failed is undercapitaliztion. However if a trader's capital is above $10,000, failure rate drops expoentially. (I read it long time ago and couldn't find it, you may wanna try googling "trader failure rate" or something along the line)
No Highs? No Lows? Must be Bose!
  • #355
  • Nov 20, 2016 8:30am Nov 20, 2016 8:30am
Quoting KeenPips
{quote} One lesson for me, really a confirmation of one of my trading principles - be your own man/woman and master your system. KP
KP---Good job on keeping this thread alive, you're a fine curator.


I guess the burden of proof fall on me for posting a "rule of thumb"ish trading principle that attracted angry posters.

Here's the evidence.

a. Lower True Leverage
True Leverage=Account Balance/Notional Value of Underlying.
ex. $100,000 account trade 1 lot of EUR/USD( equivalent of $100,000 Notional Value), True Leverage=100,000/100,000=1

b. Stretches Trading Time-frame
Trade daily chart or above, don't trade M5 Chart

c. Avoid Foreseeable Economic Event
Trade normal hours, avoid news release

Why? So that you have enough capital left to fight for another day. Examples below exclude unforseeable events such as earthquake, surpise central bank announcement, etc.

Ex. USD/CHF, USD/JPY USD/MXN in Daily timeframe. Without Leverage the maximum possible loss is approx 15% for the forseeable economic events above. Imagine you got caught on the wrong sides and highly leveraged in lower timeframe.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.png Size: 25 KB
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 31 KB
No Highs? No Lows? Must be Bose!
  • #356
  • Nov 20, 2016 8:54am Nov 20, 2016 8:54am
.I am building a plan that could help in your daily lives, consists of a series of rules as: to think the consequences before acting, imagine what you are going to do in the future before you do so, this could help to avoid conflicts and remember things forgotten that might assist you in the future.

I will publish the list in the future maybe with pure logic.

This will help you to invest your money thinking carefully or smart. the people are very dumb and invest their money without thinking sometimes.
  • #357
  • Nov 20, 2016 9:12am Nov 20, 2016 9:12am
Quoting Tardigrade
{quote} Price behaves differently in different timeframes.
The most rudimentary comparison of volatility,standard deviation.

USD/JPY in different TF

Attached Image (click to enlarge)
Click to Enlarge Name: JPYM1.png Size: 38 KB
Attached Image (click to enlarge)
Click to Enlarge Name: JPYH1.png Size: 23 KB
Attached Image (click to enlarge)
Click to Enlarge Name: JPYD1.png Size: 35 KB
No Highs? No Lows? Must be Bose!
  • #358
  • Nov 20, 2016 9:42am Nov 20, 2016 9:42am
Quoting Tardigrade
{quote} Good for you, do as you please. For people who have realistic expectations about annual return and serious about building a robust trading career? Have a solid business plan and fund your account to 10k minimum. There's a research paper studying trader failure rate, and one of the primary reasons why most trader failed is undercapitaliztion. However if a trader's capital is above $10,000, failure rate drops expoentially. (I read it long time ago and couldn't find it, you may wanna try googling "trader failure rate" or something along the...
Thank your kindness, sir.
  • #359
  • Nov 20, 2016 9:42am Nov 20, 2016 9:42am
Quoting Tardigrade
{quote} ...I guess the burden of proof fall on me for posting a "rule of thumb"ish trading principle that attracted angry posters....
Hi, Tardi! You have no need to prove anything to anybody in FF. You have your rules and you trade by them. If anybody wants to try your rules, he should respectfully ask you for details. It is unethical, by FF code of conduct, to put fellow members to ridicule. I made this clear in my #1 post at the beginning of this thread. Let's respect one another, we are all in the same boat. Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #360
  • Nov 20, 2016 9:45am Nov 20, 2016 9:45am
Quoting whateveridon
.I am building a plan that could help in your daily lives, consists of a series of rules as: to think the consequences before acting, imagine what you are going to do in the future before you do so, this could help to avoid conflicts and remember things forgotten that might assist you in the future. I will publish the list in the future maybe with pure logic. This will help you to invest your money thinking carefully or smart. the people are very dumb and invest their money without thinking sometimes.
Whatever, thanks for trying to help others. However, let us show respect in our language; even if you believe some people here are dumb, I think you should keep it to yourself or wait for them to show they are dumb. Trade safe.

KP
Do your homework, follow the footprints of smart money
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