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What Would You Do Differently Today for Better Trading Results?

  • #421
  • Jan 23, 2017 5:52am Jan 23, 2017 5:52am
Your right I should have clarified it
  • #422
  • Jan 23, 2017 6:04am Jan 23, 2017 6:04am
Quoting Fader123
Your right I should have clarified it
I respect that. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #423
  • Jan 23, 2017 7:47am Jan 23, 2017 7:47am
Quoting Isabella84
I would stop jumping from one method to another. I've lost so many years looking for the best indicator, while the money was around the corner. Control the risk, be patient and disciplined and you can make money with any method.
That is one wise decision. Find a method and strategy that works for you and spend some time developing it. Then stick to your guns, no matter what some people say.
  • #424
  • Jan 25, 2017 12:30am Jan 25, 2017 12:30am
I would want to stick to my plan and add more to it, I would not want to always change plan anytime things go wrong. I believe things will work out well when we are consistent.
  • #425
  • Jan 25, 2017 4:07am Jan 25, 2017 4:07am
Quoting baile
I would want to stick to my plan and add more to it, I would not want to always change plan anytime things go wrong. I believe things will work out well when we are consistent.


Great! Planning your trade and trading your plan is all part of disciplined trading. Green pips to you.

KP
Do your homework, follow the footprints of smart money
  • #426
  • Jan 25, 2017 5:29am Jan 25, 2017 5:29am
What has changed recently in the way you trade?

KP
Do your homework, follow the footprints of smart money
  • #427
  • Edited 1:47pm Jan 25, 2017 11:22am | Edited 1:47pm
Hello,

What I slowly learned last week:

1. Having a proven trading system the utmost requirement to trading.

2. Collecting the right data when journal is 2nd utmost requirement to trading.

3. Knowing your system drawdown is the 3rd utmost requirement to trading. This gives you confidence over the long road to repeatable profitability.

This is where I am at right now.
  • #428
  • Jan 25, 2017 11:30am Jan 25, 2017 11:30am
Quoting goodoboy
Hello, What I slowly learned week: 1. Having a proven trading system the utmost requirement to trading. 2. Collecting the right data when journal is 2nd utmost requirement to trading. 3. Knowing your system drawdown is the 3rd utmost requirement to trading. This gives you confidence over the long road to repeatable profitability. This is where I am at right now.
Mastering your own system is key. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #429
  • Jan 25, 2017 9:56pm Jan 25, 2017 9:56pm
it is a process of constant learning, learn from each trade whether you win or lose. develop your own strategy that suits your style of trading, always develop a system in which you have a better risk to reward ratio, kill the fear when you are trading according to your plan.
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #430
  • Jan 26, 2017 3:00am Jan 26, 2017 3:00am
Quoting Tpak
it is a process of constant learning, learn from each trade whether you win or lose. develop your own strategy that suits your style of trading, always develop a system in which you have a better risk to reward ratio, kill the fear when you are trading according to your plan.
Good contribution, Tpak. It is important to review trades taken within a 24-hour cycle if you are an intraday trader. If you are a swing trader, it is beneficial to review each trade as soon as it has ended, at least before you take the next trade.

KP
Do your homework, follow the footprints of smart money
  • #431
  • Jan 26, 2017 4:59am Jan 26, 2017 4:59am
Quoting Tpak
it is a process of constant learning, learn from each trade whether you win or lose. develop your own strategy that suits your style of trading, always develop a system in which you have a better risk to reward ratio, kill the fear when you are trading according to your plan.
Tpak, great simple advice.

My question is why "always develop a system in which you have a better risk to reward ratio"? I would think a lower risk to reward ratio, and high win ratio would also results to profitability as well.

Just curious you response and logic.

Thanks
  • #432
  • Jan 26, 2017 8:35am Jan 26, 2017 8:35am
i mean to say, if you are taking risk of 1$ your reward should be more than 1$. in day trading it is not possible to win all the trades. so in this case even if you lose 50% trades, still you will be in profit. eg. your risk reward ratio is 1$:2$, you take made 10 trades , won 5 lost 5, your 5 wining trades will give you 10$ and your 5 losing trades will cost you 5$, so you will still be in with a profit of 5$.
Quoting goodoboy
{quote} Tpak, great simple advice. My question is why "always develop a system in which you have a better risk to reward ratio"? I would think a lower risk to reward ratio, and high win ratio would also results to profitability as well. Just curious you response and logic. Thanks
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #433
  • Jan 26, 2017 9:00am Jan 26, 2017 9:00am
Quoting Tpak
i mean to say, if you are taking risk of 1$ your reward should be more than 1$. in day trading it is not possible to win all the trades. so in this case even if you lose 50% trades, still you will be in profit. eg. your risk reward ratio is 1$:2$, you take made 10 trades , won 5 lost 5, your 5 wining trades will give you 10$ and your 5 losing trades will cost you 5$, so you will still be in with a profit of 5$. {quote}
You really meant what he had in mind. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #434
  • Jan 29, 2017 12:10pm Jan 29, 2017 12:10pm
Quoting KeenPips
What has changed recently in the way you trade? KP
What has changed recently is in the way I analyse the market. I now incorporate market mode in my analysis and set trade scenarios that consider both the market mode and the market direction.

KP
Do your homework, follow the footprints of smart money
  • #435
  • Feb 6, 2017 1:42am Feb 6, 2017 1:42am
Could top down trend analysis help improve your trading? Check this video for a perspective.

Trade safe and prosper.

KP

Inserted Video
Do your homework, follow the footprints of smart money
  • #436
  • Feb 7, 2017 8:54am Feb 7, 2017 8:54am
If you would reflect on your trading career and advise on the number one thing you would do (or are doing) differently, what would it be?

KP
Do your homework, follow the footprints of smart money
  • #437
  • Feb 7, 2017 9:23am Feb 7, 2017 9:23am
Quoting KeenPips
If you would reflect on your trading career and advise on the number one thing you would do (or are doing) differently, what would it be? KP

I made a load of mistakes while starting Forex trading a couple of years ago. If I were to advise a newbie, I will have to say that security of trading capital should be the utmost consideration. The money will come after mastering an efficient trading system and trading in a disciplined, patient manner. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #438
  • Feb 7, 2017 12:55pm Feb 7, 2017 12:55pm
Quoting KeenPips
If you would reflect on your trading career and advise on the number one thing you would do (or are doing) differently, what would it be? KP

Don't use lower time frames. It's for mugs.
Good trading is gains without pain. If you believe that trading is "no pain no gain" then you are not in the zone.
You came here for the truth and let me unveil it for you
  • #439
  • Feb 7, 2017 1:28pm Feb 7, 2017 1:28pm
Hi mate! I respectfully wish to express a different opinion. You have to use lower time frames in combination with higher time frames. It's a powerful strategy, if you know what you are doing.

Quoting RondaRousey
{quote} Don't use lower time frames. It's for mugs....

Really? There are pains in trading. Read the book on 'Market Wizards' or ask around on the FF platform. How you manage the pains to make the gains is about developing a profitable market edge.

Trade safe and prosper.

KP


quote=RondaRousey;9535915]{quote}...... Good trading is gains without pain. If you believe that trading is "no pain no gain" then you are not in the zone.[/quote]
Do your homework, follow the footprints of smart money
  • #440
  • Feb 7, 2017 1:39pm Feb 7, 2017 1:39pm
Quoting RondaRousey
{quote}.... Good trading is gains without pain. If you believe that trading is "no pain no gain" then you are not in the zone.
If you don't know how to effectively handle and manage the pains involved in the FX trading business, including using the pains to gain a competitive edge in the market, you won't go far in the business. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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