Most traders fail because of no discipline! | Page 30 | Forex Factory

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Most traders fail because of no discipline!

  • #581
  • Feb 1, 2017 6:43pm Feb 1, 2017 6:43pm
no congrats guys? already 1:1 locked in looking to compound to 7650 if it so allows me to. otherwise just a 2.5:1 oooo boo hoo. see what you make me become you people.
  • #582
  • Feb 1, 2017 6:54pm Feb 1, 2017 6:54pm
Quoting WolGod
no congrats guys? already 1:1 locked in looking to compound to 7650 if it so allows me to. otherwise just a 2.5:1 oooo boo hoo. see what you make me become you people.
yes normal trade, breakout with opening time, and in news got more drive because this direction? same with indicators or naked chart trading, nothing special. maybe its more easy open account and then show results or open commercial section thread, then spamming all the time trades in a normal thread?
  • #583
  • Feb 1, 2017 7:00pm Feb 1, 2017 7:00pm
Quoting dukas_trader
{quote} yes normal trade, breakout with opening time, and in news got more drive because this direction? same with indicators or naked chart trading, nothing special. maybe its more easy open account and then show results or open commercial section thread, then spamming all the time trades in a normal thread?
Nothing special? LOL LOL.
LOL Call trades 40 minutes before BUY what looks to everyone here a top edge. Theres no way id be getting in at top edge just because of news. Whatever. Think what you like I give SLs, TARGETS and call it 40 minutes beforwe the bloody trade. If you think I'm using news and price action only VERY MISTAKEN.
Breakout trade? LOL I never breakout trade. That's for retailers who have no idea of risk management
  • #584
  • Feb 1, 2017 7:03pm Feb 1, 2017 7:03pm
Quoting WolGod
{quote} Nothing special? LOL LOL. LOL Call trades 40 minutes before BUY what looks to everyone here a top edge. Theres no way id be getting in at top edge just because of news. Whatever. Think what you like I give SLs, TARGETS and call it 40 minutes beforwe the bloody trade. If you think I'm using news and price action only VERY MISTAKEN. Breakout trade? LOL I never breakout trade. That's for retailers who have no idea of risk management

wow you have same win like breakout with more risk because longer in market? sorry that i am not impressed.

accept that other traders are maybe some smarter then you often, maybe sometimes you are in front, who knows. try an account, show results, then we speak more. nothing special being in trade so much earlier, when coming in when trade starts getting run in enough ;-). but why you post here trades, if someone would like to sell signals you can do, but is this important for you?then bether commercial section for this? more people will see it.
  • #585
  • Feb 1, 2017 7:05pm Feb 1, 2017 7:05pm
more risk?? what are you on about??? OH because my stop loss is closer? LOL LOL LOL that's the fing point!!!
  • #586
  • Feb 1, 2017 7:07pm Feb 1, 2017 7:07pm
Quoting WolGod
more risk?? what are you on about??? OH because my stop loss is closer? LOL LOL LOL that's the fing point!!!
your stop was much higher then neccesary for breakout trade. but maybe next time you have more luck in interprete this new ;-).
sometimes you win, sometimes you are not the best. but who cares, you got a win too, thats fine, daily chart support is broken, many trades are in, news was good way in many timesframes.
  • #587
  • Feb 1, 2017 7:11pm Feb 1, 2017 7:11pm
OH MY LORD. was it really?? so youd have your stop amongst algos? Smart Move. NOT. This is what Ive been trying to explain. I'm not having 2% of my account amongst algo territory. 53 was ABSOLUTE. and with 7610 being first target 1:1 was fine by me with a chance to 7650. Never be greedy, and ffs learn about algos, instos - how they work and volume.

AND I DONT BREAKOUT TRADE.
  • #588
  • Feb 1, 2017 7:13pm Feb 1, 2017 7:13pm
Quoting WolGod
OH MY LORD. was it really?? so youd have your stop amongst algos? Smart Move. NOT. This is what Ive been trying to explain. I'm not having 2% of my account amongst algo territory. 53 was ABSOLUTE. and with 7610 being first target 1:1 was fine by me with a chance to 7650. Never be greedy, and ffs learn about algos, instos - how they work and volume.
why, all trades are big in win, with many in breakeven set allready, 1 min and 5 min out allready. i dont know what you want. i had only 10 pip Sl, thats lower then yours. what ever, i am not here to speak about trades, do what you want, you know all bether. see you in your dreams.
  • #589
  • Edited 7:37pm Feb 1, 2017 7:26pm | Edited 7:37pm
Quoting dukas_trader
{quote} why, all trades are big in win, with many in breakeven set allready, 1 min and 5 min out allready. i dont know what you want. i had only 10 pip Sl, thats lower then yours. what ever, i am not here to speak about trades, do what you want, you know all bether. see you in your dreams.
so where'd ya get in? what, 2 mins before news with had a random 10 pip stop loss?? AND you call that great trading?????

whatever. I'm just so happy. Its been years of study and experience lot of frustration to get the right perspective. I came here to see the talent if any. Theres none. I appreciate even more what I have. See ya later guys. I tried to learn you about oscillators and risk management and have told you to learn volume. Rest is upto you.

PS - DUKAS - you are not making sense. You say you trade BIG account well HOW THE F*** do you get the size on REQUIRED if your breakout trading??? laughable because its impossible. Sorry not impossible but bloody stupid.
  • #590
  • Feb 1, 2017 11:47pm Feb 1, 2017 11:47pm
Quoting WolGod
{quote} Really? ok AUD right NOW SL: 7553 TARGET: 7612 then 7650 - I know to you it seems hard to understand but I can see HOW the trades going and can compound or exit accordingly. ENTRY: Still waiting obviously as market opens at 10am. A test and demand away from 7575 and IM IN. I will also be IN if there is a set up (an insto secret) on the open. Don't mind paying up here as its VERY STRONG atm. I'm calling this 40 minutes before the market opens will be a 1:1 MINIMUM could be a lot higher. There is no way you can make 1:1 in a month using oscillators....
The difference between you and me WolGod, is I can back up everything I say [ http://www.forexfactory.com/showthre...90#post9511390 ] and all on a live account my friend, GW.
IMPROVISE ADAPT OVERCOME
  • #591
  • Feb 2, 2017 1:26am Feb 2, 2017 1:26am
Quoting Ghost Walker
{quote} The difference between you and me WolGod, is I can back up everything I say [ http://www.forexfactory.com/showthre...90#post9511390 ] and all on a live account my friend, GW.
LOL many difference between you and me mate
You talking in pips and trading with 400 indicators that you think mean something, is the most glaring differences between us.

I called the trade out 40 minutes before did the same thing yesterday I'm not sure what everyone's problem is. Its cause I rubbish indicators obviously.

Its very amusing what I have learnt and seen here on this forum.

ill be making 6-10% a week from now on. youll be making what? 100 pips? what does that even mean? how do you even quantify that? growth?
ABSOLUTELY NO IDEA!! Best you can hope for is make ya little pips and possibly replace ya 50k a year job. BUT the whole time risking your whole account unknowingly because of your lack of knowledge for macro economics or volume of the big fish.

The ignorance is driving me crazy when I should be stoked about it really.
  • #592
  • Feb 2, 2017 1:42am Feb 2, 2017 1:42am
Quoting WolGod
{quote} LOL many difference between you and me mate You talking in pips and trading with 400 indicators that you think mean something, is the most glaring differences between us. I called the trade out 40 minutes before did the same thing yesterday I'm not sure what everyone's problem is. Its cause I rubbish indicators obviously. Its very amusing what I have learnt and seen here on this forum. ill be making 6-10% a week from now on. youll be making what? 100 pips? what does that even mean? how do you even quantify that? growth? ABSOLUTELY NO IDEA!!...
You are in a dream world my friend, and on top of that you don't know how to read, you are full of words but you can't prove a single word you speak ,GW
IMPROVISE ADAPT OVERCOME
  • #593
  • Feb 2, 2017 1:53am Feb 2, 2017 1:53am
The way people get so easily sucked into arguments, makes me completely understand why the market sucks people into traps and eats them alive so easily.
Anyway, all very entertaining....
  • #594
  • Feb 2, 2017 2:14am Feb 2, 2017 2:14am
Listen up people, this thread was created for discussion in regard to discipline and any psychological aspect in trading, I advice you in my previous post to refrain from replying on wolgod post but you still keep on arguing to a person that seems to have a self centered personality, this argument will not end, @wolgod I already give you a warning, I have to put you in the ignored list now, you are making chaos in my thread.
  • #595
  • Feb 2, 2017 2:17am Feb 2, 2017 2:17am
Quoting techboy46
Listen up people, this thread was created for discussion in regard to discipline and any psychological aspect in trading, I advice you in my previous post to refrain from replying on wolgod post but you still keep on arguing to a person that seems to have a self centered personality, this argument will not end, @wolgod I already give you a warning, I have to put you in the ignored list now, you are making chaos in my thread.
Apologies techboy, I had not seen your previous warnings, GW.
IMPROVISE ADAPT OVERCOME
  • #596
  • Feb 2, 2017 2:47am Feb 2, 2017 2:47am
Quoting techboy46
Listen up people, this thread was created for discussion in regard to discipline and any psychological aspect in trading, I advice you in my previous post to refrain from replying on wolgod post but you still keep on arguing to a person that seems to have a self centered personality, this argument will not end, @wolgod I already give you a warning, I have to put you in the ignored list now, you are making chaos in my thread.
I think the discussions between people in this thread have answered one question, most traders do not have much discipline or restraint.

However the question of "Does this effect trading" has yet to be answered.

But i do believe if most acted to the markets as they do to personal conflicts then this would result in revenge trading, over trading, jumping the gun, and being sucked into the exact place smart money wants retail traders to be.

Perhaps it may do some people good to read some books. Not trading books but more self help/ personal empowerment books. Im sure you would get a lot more out of them then having pointless arguments on FF anyway.
  • #597
  • Feb 2, 2017 2:55am Feb 2, 2017 2:55am
Quoting Copernicus
Guys There appears to be a communication problem in this thread as unfortunately there is no common context that participants can debate from. Obviously people are using different definitions and what could be a fruitful discussion turns into a diatribe from different perspectives. For example, what one person calls random, another calls complexity etc.etc. etc. If there was a common understanding by at least discussing a method before interrogating it via question and answer, then threads such as these would be helpful as opposed to being rejected...
"complex" is the right word... is that I tend to come here at late night after drinking a bit too much. Now it's 10 in the mornig here and I feel like c*ap lol
  • #598
  • Feb 2, 2017 2:56am Feb 2, 2017 2:56am
Quoting HeyYou
{quote} "complex" is the right word... is that I tend to come here at late night after drinking a bit too much. Now it's 10 in the mornig here and I feel like c*ap lol
  • #599
  • Feb 2, 2017 3:27am Feb 2, 2017 3:27am
Quoting mrhigurashi
{quote} I think the discussions between people in this thread have answered one question, most traders do not have much discipline or restraint.
Yep, you've hit the nail on the head. It's ironic that people seeking ways of being more disciplined in their trading often seem to miss the most basic way to develop it, which is to simply conduct themselves in an orderly manner when interacting on these forums. I think this is why ex-military and boxers often seem to make good traders - they have (quite literally at times) had discipline beaten into them. We know that discipline alone won't result in success but we do know that without it we're doomed.
  • #600
  • Edited 4:05am Feb 2, 2017 3:43am | Edited 4:05am
Quoting HeyYou
{quote} "complex" is the right word... is that I tend to come here at late night after drinking a bit too much. Now it's 10 in the mornig here and I feel like c*ap lol
Hehehehe. That'll learn ya :-)

On Discipline

In my opinion, the need for discipline for both discretionary and systematic trading is paramount.

Given that a trader applies a systematic approach (or applies a given set of trading rules) when participating in a complex market, discipline is simply a necessary pre-requisite that allows a trader to understand through benchmarking how those applied rules fare under any given market condition.

We all know that our skill in trading is revealed only after thousand's of trades and cannot be determined with any degree of confidence with a low sample size. That is why I have a chuckle when listening to the "Legends in their own Minds" state with an air of confidence how gifted they are in their trading abilities and provide a few single examples to demonstrate, expecting an instant following of 'believers' to line up drooling at the mouth at the magnificence of it all...... It just reveals a level of naivety......go to any trader with a track record and you will quickly realise how humble they have become over time in recognition of the complexity of this market........but anyway I digress.

To have any measure of trading success in this market, you quickly realise that you need some measure of being able to assess how the system you trade stacks up in terms of performance metrics over a large sample size. This applies to any trader whether they be discretionary or systematic. A trader needs to worry about their next thousand trades and needs to shift their focus away from simply a single trade. To be able to do this each single trade needs to be as perfectly repetetive as you can make it, thereby your confidence grows in trusting the statistics that your system produces over time. An edge is only displayed over a large sample size. If you flip a biased coin, you will only deduce that the coin is biased as the sample size grows.

It is not about the skills of perfecting a punch so that each trade is a masterpiece. Those that feel that perfection applies to a complex market are stepping into 'woo science'. Discipline relates to repeated consistent application as the information you obtain from this process allows you to improve as a trader. We must always remember that we are applying a system in a complex and dynamic market. Your system restricts the degrees of freedom in which price can move. It is the same principle that is applied by an engineer in designing a ship that is sufficiently robust to stand against the elements of uncertainty on the seven seas. The first designs will demonstrate how to improve for later designs.

The reason that discretionary and fully automated traders need trade journals and keep spining the mantra.... 'stick to your system rules' is that in this process of repeated application (hopefully with fidelity) you can start to assess how your system tackles a given market condition and use this as a benchmark to then hone your abilities further through progressive system modification. At each step on the way, you need to measure how your system and a repeated application over a large range of market conditions perform.

This is where discipline comes in. Even in the fully automated space, discpline relates to the need to prevent yourself from interfering with your system. Through interfering or altering your system rules on the fly, you lose track of how well that system performans across market conditions. Furthermore you stuff the statistical history you have built up and as a result, leave yourself particularly vulnerable to your innate 'human' biases......such as ego......hehehehehe.

Without a disciplined approach to repetetive application, you will have no basis to assess whether you are improving or not, whether your performance is attributed to simple luck, whether market conditions have changed with respect to your system, ....and also you will never have a recipe that you can teach to and be applied by others.

Discipline is a foundation stone for a trader and a necessary pre-requisite that allows a trader to improve their abilities through sound statistical reasoning.
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