Most traders fail because of no discipline! | Page 20 | Forex Factory

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Most traders fail because of no discipline!

  • #381
  • Jan 29, 2017 6:06pm Jan 29, 2017 6:06pm
Quoting hanover
[I used to code EAs for a lot of traders. I found that it typically takes an exchange of 10-20 e-mails before even the most "simple" (as believed by the trader) EA is coded to include all of his rules, to meet his requirement to his satisfaction. People tend to forget rules like excluding entries at certain times of the day, or if the spread is too wide; closing trades before the weekend; maximum number of simultaneous trades open; highest allowable drawdown; etc etc. Then it takes several days, even weeks of...
Most do not have a clue.
And are rarely satisfied.
I salute your decision.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #382
  • Jan 29, 2017 6:08pm Jan 29, 2017 6:08pm
Quoting WolGod
Stochastics. Oscilators. price goes up - these things go up too after it. if only you could trade oscilators youd make millions. how many losses do people have to take to realize they are horseshit? Price went up you want to know why and how. stochastics tell you how fast. This information gives you no value at all. anyone want to stand by stochastics?
Do you blame the hammer for hitting your thumb?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #383
  • Jan 29, 2017 7:05pm Jan 29, 2017 7:05pm
Tooslow is exactly what oscilators are. Youve blown account after account yet still want to use them?

why tooslow why?
  • #384
  • Edited 10:47pm Jan 29, 2017 7:19pm | Edited 10:47pm
I don't believe being a successful trader can be attributed to one thing ,at least I found this to be true in my case ,discipline absolutely is a major key but so is patience ,money management and screen time - all equally important and must be running fluently in your discipline [ Trading ] to be successful. It also must be said that it is discipline where most traders will fail ,because it involves looking into yourself and fixing things that are not right and people in general hate looking inside themselves.
I kept a diary of all my trades and made a point of studying my losses and in the early days I lost about 6 live accounts. I used all of this to forge the sword I have today,you come to a point where you draw a line in the sand and say F=ck this is enough, its time to pull it all together and implement everything you have learned and you take on the beast with a new vigor and a new mind set.
As for my system, I knew I was on to something but I also knew there where things inside I had to fix for all of it to come together,GW.
IMPROVISE ADAPT OVERCOME
  • #385
  • Jan 29, 2017 7:25pm Jan 29, 2017 7:25pm
Quoting WolGod
Tooslow is exactly what oscilators are. Youve blown account after account yet still want to use them? why tooslow why?
Who said I use oscillators?
Do you see them on my charts?
You assume too much.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #386
  • Jan 29, 2017 9:06pm Jan 29, 2017 9:06pm
Quoting Ghost Walker
I don't believe being a successful trader can be attributed to one thing ,at least I found this to be true in my case ,discipline absolutely is a major key but so is patience ,money management and screen time - all equally important and must be running fluently in your discipline [ Trading ] to be successful. It also must be said that it is discipline where most traders will fail ,because it involves looking into yourself and fixing things that are not right and people in general hate looking inside themselves. I kept a diary of all my trades and...
The best teacher is the market. It will school you and point you in the right direction. Use the flow of the market to guide you. Don't fight the market. You will lose.
You came here for the truth and let me unveil it for you
  • #387
  • Jan 29, 2017 10:15pm Jan 29, 2017 10:15pm
Quoting RondaRousey
you use a mix of FA and TA then it's both discretionary and mechanical.
By definition, if you also use FA then your system is no longer mechanical, unless you can also program and code your FA parameters (assuming you can give them a value to begin with).
  • #388
  • Jan 29, 2017 10:44pm Jan 29, 2017 10:44pm
In everything that has been said here please keep ln mind, unless you can back up what you say and you are successful live you shouldn't be posting here, other wise it just becomes the blind leading the blind, GW.
IMPROVISE ADAPT OVERCOME
  • #389
  • Edited Jan 30, 2017 2:16am Jan 29, 2017 11:50pm | Edited Jan 30, 2017 2:16am
Quoting RondaRousey
{quote} The best teacher is the market. It will school you and point you in the right direction. Use the flow of the market to guide you. Don't fight the market. You will lose.
Yes normally when somebody hits you, you hit him back or you RUN. you don't just smile and walk away. Only Jesus would do that ? or maybe a veery quiet person ? lol.

Soo stop fooling yourself with concepts like discipline. you are just improving the concept that you have of discipline, hilarious.

Reality is this: if you punch the market back immediately, sometimes you'll win but most of the time you'll lose because the occasions to profit are quite rare.

How many losses can you take ? be honest, if the answer is "few" than consider doing something else, there's no problem in giving up as in this case, it's a win.
  • #390
  • Jan 30, 2017 12:19am Jan 30, 2017 12:19am
Quoting techboy46
{quote} As a matter of opinion stochs and other known technical indicators are all lagging in nature, price has gone up or down before this indicators react and it is even worst in the smaller time frames, but I will not say that they are totally useless, because I am sure there are traders that maybe comfortable in using this stuff but as far as I am concern this indicators does not fit much to my trading style.
Some people see indicators as lagging, to me they simply smooth the noise.
  • #391
  • Jan 30, 2017 2:06am Jan 30, 2017 2:06am
Quoting HeyYou
{quote} Some people see indicators as lagging, to me they simply smooth the noise.
Spoken like a true retail sucker.
noise? No such thing.
its called accumulation / valuing higher/lower / exhausting - this is all happening while you retailers go ahh its just noise let me check stochs and macd.
without volume analysis and fundamental sentiment or bias (understand the difference) then youll never understand the market and always feel like ya guessing with 60% probability (at best) when infact the tools are there to trade at 99%.
  • #392
  • Jan 30, 2017 2:27am Jan 30, 2017 2:27am
  •  hak444
  • | Joined Aug 2016 | Status: knowing is not enough,we must apply | 41 Posts
@hanover....thnx a lot for your comprehensive reply

Peace
I can accept failure but i can't accept not trying. (Michael Jordan)
  • #393
  • Jan 30, 2017 2:36am Jan 30, 2017 2:36am
Quoting WolGod
{quote} Spoken like a true retail sucker. noise? No such thing. its called accumulation / valuing higher/lower / exhausting - this is all happening while you retailers go ahh its just noise let me check stochs and macd. without volume analysis and fundamental sentiment or bias (understand the difference) then youll never understand the market and always feel like ya guessing with 60% probability (at best) when infact the tools are there to trade at 99%.
many trade with 90% success rate and win/drawdown rate per year of 10 and more. and this without any from your indicators and just charts. and by the way, "noise" its a very common world thats definition is different to any trading style and system, so you cant decide what it will be for what person.

trading with volume and open interest is nothing special, many do it, at average not bether then trading other styles. some are bad doing it and lose, some are smart and win. like with all systems you can win and lose, but there is nothing special in it that you can be any bether then normal trader. just an other system. in forex market the open interest and volume is even a big guessing, because future market is such small against spot market. and volume in forex market is only calculated as amount of changed quotes, so by this point not even a true volume. so trading forex with open interest and volume is behind a smart system. for other markets its even.
  • #394
  • Jan 30, 2017 2:43am Jan 30, 2017 2:43am
Thanks to those who took the time to answer my question in post #369.

In some ways, it was intended as a rhetorical question; I was trying to get people to think about how they could determine whether any failure was due to ill-discipline, or lack of an 'edge' in the method/strategy/plan itself. I expect that there are newcomers who make emotional decisions, lose money, and then blame their losses on their obvious ill-discipline, without first examining their method objectively.
  • #395
  • Jan 30, 2017 2:50am Jan 30, 2017 2:50am
Quoting HeyYou
{quote} Yes normally when somebody hits you, you hit him back or you RUN. you don't just smile and walk away. Only Jesus would do that ? or maybe a veery quiet person ? lol. Soo stop fooling yourself with concepts like discipline. you are just improving the concept that you have of discipline, hilarious. Reality is this: if you punch the market back immediately, sometimes you'll win but most of the time you'll lose because the occasions to profit are quite rare. How many losses can you take ? be honest, if the answer is "few" than consider doing...
Quoting your quote "Soo stop fooling yourself with concepts like discipline " learn how to trade friend so you have experience and a live account to back up what you say,but I can guarantee you once you do get time under your belt you won,t be quoting that statement again,GW.
IMPROVISE ADAPT OVERCOME
  • #396
  • Jan 30, 2017 2:50am Jan 30, 2017 2:50am
Quoting hanover
Thanks to those who took the time to answer my question in post #369. In some ways, it was intended as a rhetorical question; I was trying to get people to think about how they could determine whether any failure was due to ill-discipline, or lack of an 'edge' in the method/strategy/plan itself. I expect that there are newcomers who make emotional decisions, lose money, and then blame their losses on their obvious ill-discipline, without first examining their method objectively.
may beginners lose because they dont understand many needs to lose that other can win.

and offcourse because of running from one system to an other. most beginners see scammers who post many 100% per month wins and they think , there are bether system outside that they trade allready, and change all the time. investing in what other trading is first step to investing less good, unless you are doing really bad all the time and want change all. being a pro in one thing is bether then a semi in 10.
  • #397
  • Jan 30, 2017 2:55am Jan 30, 2017 2:55am
Quoting HeyYou
{quote} Ghost biker ! gotcha! c'mon 60% = 6%/ month by risking only 3%/trade... 90%=???
hehe, no not ghostbiker. i dont speak about this cheater. he is funny, is no even selling copy trading to stuid followers, that want lose all their money, like he did again and again.
  • #398
  • Jan 30, 2017 2:57am Jan 30, 2017 2:57am
Quoting Ghost Walker
{quote} Quoting your quote "Soo stop fooling yourself with concepts like discipline " learn how to trade friend so you have experience and a live account to back up what you say,but I can guarantee you once you do get time under your belt you won,t be quoting that statement again,GW.
I don't think you can "learn how to trade", that's what I'm saying, you can improve your strategy and all but without the right attitude which is already in you since you born things get complicated.
  • #399
  • Jan 30, 2017 3:00am Jan 30, 2017 3:00am
Quoting HeyYou
{quote} I don't think you can "learn how to trade", that's what I'm saying, you can improve your strategy and all but without the right attitude which is already in you since you born things get complicated.
Yes you can learn my friend ,and more often than not the key that unlocks it all for you is right under your nose !
IMPROVISE ADAPT OVERCOME
  • #400
  • Jan 30, 2017 3:13am Jan 30, 2017 3:13am
Quoting dukas_trader
{quote} many trade with 90% success rate and win/drawdown rate per year of 10 and more. and this without any from your indicators and just charts. and by the way, "noise" its a very common world thats definition is different to any trading style and system, so you cant decide what it will be for what person. trading with volume and open interest is nothing special, many do it, at average not bether then trading other styles. some are bad doing it and lose, some are smart and win. like with all systems you can win and lose, but there is nothing...
If anyone can beat me I make 5xdrawdown every week. Average is 25% GAIN v 5% DD

NO one else here can even get close to that. People here make 1% a month then -.6% the next mo th whoopdedoo! Why cause ya trade daily charts with no knowledge of i traday levels - volume - laughable you dont understand what open interest and how it can be used for us retailers. Nonone here is taking advantage of the size we have compared to the instos. No one will even understand what in saying. But dont worry offers coming soon to you good people i feel sorry for you guys I will help Ive been in your situation I know how much it suks.
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