Most traders fail because of no discipline! | Page 34 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why most 'traders' fail 12 replies

Top Reasons Why Most Beginner Traders Fail 64 replies

The Miracle of Discipline, by Rob Booker 18 replies

Average system + great discipline =great results? 44 replies

Why Traders Lose Their Discipline 2 replies

Attachments: Most traders fail because of no discipline!
Exit Attachments

Most traders fail because of no discipline!

  • #661
  • Feb 2, 2017 11:52pm Feb 2, 2017 11:52pm
Quoting RondaRousey
ignore risk and reward
Trading is not about risk reward, it is about finding a system that gives you a real mathematical edge and then trading that system with 100% discipline.

Sure, we would all love to risk only 500 dollars to earn $2,000 on each trade, for example (who wouldn't?), but again risk/reward has very little to do with trading profitably.

However, if your trading system is good at finding 2 to 1 risk reward trades and making you money so be it, go for it.
  • #662
  • Feb 2, 2017 11:57pm Feb 2, 2017 11:57pm
Some days FF feels like being back in the playground of primary school.....
  • #663
  • Edited Feb 3, 2017 12:09am Feb 2, 2017 11:57pm | Edited Feb 3, 2017 12:09am
Quoting dukas_trader
{quote} i did allready try to tell him his mistake, but maybe he dont like to be corrected.
Where is your trading diary? Your friend Mr Breakout has one.
http://www.forexfactory.com/showthread.php?t=636795
I already know you cannot trade.
Post your trades and show me how smart you are.
You came here for the truth and let me unveil it for you
  • #664
  • Feb 3, 2017 12:00am Feb 3, 2017 12:00am
Quoting Mr Breakout
{quote} Trading is not about risk reward, it is about finding a system that gives you a real mathematical edge and then trading that system with 100% discipline. Sure, we would all love to risk only 500 dollars to earn $2,000 on each trade, for example (who wouldn't?), but again risk/reward has very little to do with trading profitably. However, if your trading system is good at finding 2 to 1 risk reward trades and making you money so be it, go for it.
what???? trading is not about risk and reward??????????????????????
you should stop writing now because the more you write the less respect i have for your trading.

Post your trades on your diary! show me what edge you have.
All these pretend traders who post about rubbish never post a trade. Why?

Come on post your trades here:

http://www.forexfactory.com/showthread.php?t=636795
You came here for the truth and let me unveil it for you
  • #665
  • Edited 12:17am Feb 3, 2017 12:04am | Edited 12:17am
Quoting mrhigurashi
Some days FF feels like being back in the playground of primary school.....
Agreed. I want them to post their trades. Without good profitable trades they have no creditability. They make hundreds of comments but never post a trade.
You came here for the truth and let me unveil it for you
  • #666
  • Feb 3, 2017 1:01am Feb 3, 2017 1:01am
In my opinion the only thing that has any credibility is a TE on a live account with a reputable broker. Other then that, anyone touting how great they are is just nonsense. Posting numbers after the fact means nothing. You can pick 100% correct trades, but unless you are actually taking those trades n a real account with real money it dont mean S#$%. But hey, thats just me. Each to their own.
  • #667
  • Edited 1:38am Feb 3, 2017 1:22am | Edited 1:38am
Quoting RondaRousey
What???? Trading is not about risk and reward??????????????????????
Nope.

Trading is about making money in the long run, while still keeping the maximum drawdown at a reasonable level.

Quoting RondaRousey
Why? Come on post your trades here: http://www.forexfactory.com/showthread.php?t=636795
I will, next week.

By the way, stop being so aggressive, it's not good for your blood pressure, and your health in general.
Relax, take a deep breath, smile, everything will be fine.
  • #668
  • Feb 3, 2017 1:56am Feb 3, 2017 1:56am
Discipline is one most important aspect of trading. It is very tough to generate consistent returns in trading, only some percentage of traders start making some meaningful returns after getting few years of experience only because of maintaining strong discipline and avoiding emotional trading.
  • #669
  • Feb 3, 2017 3:18am Feb 3, 2017 3:18am
Quoting mrhigurashi
In my opinion the only thing that has any credibility is a TE on a live account with a reputable broker. Other then that, anyone touting how great they are is just nonsense. Posting numbers after the fact means nothing. You can pick 100% correct trades, but unless you are actually taking those trades n a real account with real money it dont mean S#$%. But hey, thats just me. Each to their own.
I agree, anybody that comes here and tell how good he is or how knowledgeable he is but cannot show real account statement backing such claims is just a big pretender, trading is not just about being experienced and knowledgeable,a lot of experienced and very knowledgeable trader lingering around but cannot make a decent income in trading, this only shows how tough this profession is. Its the P&L statement that will really define how good a trader is, otherwise its just pure lip service from that person.
  • #670
  • Edited 4:40am Feb 3, 2017 3:26am | Edited 4:40am
Quoting Mr Breakout
{quote} Trading is not about risk reward, it is about finding a system that gives you a real mathematical edge and then trading that system with 100% discipline. Sure, we would all love to risk only 500 dollars to earn $2,000 on each trade, for example (who wouldn't?), but again risk/reward has very little to do with trading profitably. However, if your trading system is good at finding 2 to 1 risk reward trades and making you money so be it, go for it.
A good trading strategy will always be factor in trading,but the idea of better or good risk reward ratio is an ideal condition that most of us want but it does not mean that trader insists on it all the time, because we always have to assess current market conditions, meaning we aspire to achieve good RR but must always willing to compromise whenever the market is telling us differently. In my case I would always try to achieve better RR in all of my trades because it can give me extra profits along the way, but when market is telling me the other way around then I am always willing to settle to what is achievable.
  • #671
  • Feb 3, 2017 3:35am Feb 3, 2017 3:35am
Quoting RondaRousey
{quote} what???? trading is not about risk and reward??????????????????????
Don't get me wrong. In like with big cats, too. But I am going only for the... rewards part!
Attached Image (click to enlarge)
Click to Enlarge Name: lions mating.jpg Size: 564 KB

In case you are wondering, I am the guy behind...
Maadik Hugiis. IQ 69.
  • #672
  • Edited 6:50am Feb 3, 2017 6:38am | Edited 6:50am
I dont think you can have a set Risk Reward for every trade, as each trade you take is unique. Your trading edge should hopefully predict
a risk reward outcome, but you may decide to exit due to maybe, the trade taking too long to get there or maybe a news event about to be
announced or price starts to reverse on you & you decide to bail out.
What you can hope to achieve is a trading edge that will in the long run, give you a high enough average win rate to match your risk reward that will make you profitable in the long run.

Cheat Sheet for reward:risk ratio and winrate
Your historical winrate Minimum reward:risk ratio
25% -------------------------3 : 1
33% -------------------------2 : 1
40% -----------------------1.5 : 1
50% -------------------------1 : 1
60% -----------------------0.7 : 1
75%----------------------- 0.3 : 1

General Formula
Minimum Winrate = 1 / (1 + Reward:Risk)
or
Required Reward:Risk Ratio = (1 / Winrate) - 1
It never gets easier, you just get better
  • #673
  • Feb 3, 2017 7:56am Feb 3, 2017 7:56am
Quoting hanover
EAs nail down MM and trade with perfect discipline. If "system" was unimportant, then most retail EAs would be profitable.
So the next question should be: Can we build the perfect Robot ?? That's the million dollar question..................
  • #674
  • Feb 3, 2017 8:21am Feb 3, 2017 8:21am
Quoting RondaRousey
{quote} Where is your trading diary? Your friend Mr Breakout has one. http://www.forexfactory.com/showthread.php?t=636795 I already know you cannot trade. Post your trades and show me how smart you are.
you are just to new in the market, i cant help you anymore or correct you mistakes, because you dont understand the basics.

here are only some kind of people post trades:
- beginners that try to show how good they are
- people who want find investors
- fakers who want steel some money for bad systems

tell me one advantage by showing trades, and i tell you double time disadvantages. and by the way, most prime brokers even dont offer any Te compatibility, because there is no metatrader. when you really would make good money you would know this allready because you allready would use such brokers, so dont fake it please.
  • #675
  • Feb 3, 2017 8:33am Feb 3, 2017 8:33am
Quoting anax
{quote} So the next question should be: Can we build the perfect Robot ?? That's the million dollar question..................
offcourse you can, thats not an impossible problem. but if you give robots to public it dont will work any more after some time. there will be so much people buying same time, there is no volume in the market to fill all this people, more difficult it will be when all want go out of the trade, its then like a resistance the price cant go over.

so many think forex is such a great mega volume market. but the truth is, it isnt that big really if you calculate the volume down to the moment you want to buy/sell a trade.
if one system is so great and public, why other traders should be on the opposite side in this trade, when they know there is no good win chance in this moment.

and this are only 2 reasons that kill the best programs when going public.

offcourse there are also problems with changed marketbehavior or big impact news that will change some facts, you used maybe inside the program. you need to find as edge long term rules that are in the market and dont change offen over the years..
  • #676
  • Feb 3, 2017 9:06am Feb 3, 2017 9:06am
Quoting dukas_trader
{quote} he is correct about it.reward risk ratio is useless (meaningless), only together with probability its to use. if you have 2:1 and win 33% its offcourse not bether then 1:2 and you win 70% of your trades. so using only reward risk ratio is not possible and tells nathing about any strategy. that was what he was saying.

Hi,

high reward:risk ratio is more important than you think, without speaking about statistics.
Each trade is unique, uncertain and randomly distributed, facing this with a higher reward vs risk is much easier.
LDFX Trading Ltd
  • #677
  • Feb 3, 2017 9:11am Feb 3, 2017 9:11am
Quoting LDFX
{quote} Hi, high reward:risk ratio is more important than you think, without speaking about statistics. Each trade is unique, uncertain and randomly distributed, facing this with a higher reward vs risk is much easier.
only when you know how many trades are won/loss. without this probability to win you cant use reward:risk in any kind, its just a number without any meaning.

and using 2:1 is not allways bether then using 1:2, for each advantage there are also disadvantages, most if the SL and TP are very small. But without probability to win number you cant calculate will you lose or win on the end,drawdown, total risk,total win, moneymanagement system structure, ......
  • #678
  • Edited 9:29am Feb 3, 2017 9:18am | Edited 9:29am
Quoting dukas_trader
{quote} only when you know how many trades are won/loss. without this probability to win you cant use reward:risk in any kind, its just a number without any meaning. and using 2:1 is not allways bether then using 1:2, for each advantage there are also disadvantages, most if the SL and TP are very small. But without probability to win number you cant calculate will you lose or win on the end,drawdown, total risk,total win, moneymanagement system structure, ......
Well, it's absolutely not what I was talking about.

each trade result is random, each trade is unique, each trade is uncertain, even on a thousands trade on a profitable strategy.

What I am saying is that a high reward vs risk makes all of this easier to manage which is maybe the biggest reason most of traders fails, bad management, call it discipline.
LDFX Trading Ltd
  • #679
  • Feb 3, 2017 9:27am Feb 3, 2017 9:27am
Quoting dukas_trader
{quote} only when you know how many trades are won/loss. without this probability to win you cant use reward:risk in any kind, its just a number without any meaning. and using 2:1 is not allways bether then using 1:2, for each advantage there are also disadvantages, most if the SL and TP are very small. But without probability to win number you cant calculate will you lose or win on the end,drawdown, total risk,total win, moneymanagement system structure, ......

I don't understand what you saying, the trades you would have won/loss are based on a reward:risk ratio anyway and the hit ratio would be directly linked to the reward:risk ratio.

you are like saying the egg came before the chicken.
LDFX Trading Ltd
  • #680
  • Feb 3, 2017 9:28am Feb 3, 2017 9:28am
Quoting LDFX
{quote} Well, it's absolutely not what I was talking about. each trade result is random, each trade is unique, each trade is uncertain, even on a thousands trade on a profitable strategy. What I am saying is that a high reward vs risk makes all of this easier to manage which is maybe the biggest reason most of traders fails.
hmm, when you trade when its random its not best way. then you dont use an edge.

but if you want to do so, then its on longterm allways a loss, what ever RR ratio you use, because of spread/ commission and slippage.
0 traders viewing now