Disliked{quote} 3 months not very long really, how many trades in that period? Have you back tested?Ignored
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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
Disliked{quote} 3 months not very long really, how many trades in that period? Have you back tested?Ignored
Disliked{quote} Trades are not too many in this strategy because it is using the 4hr chart,but it is utilizing 1:1 RR(sometime better) so loses can be easily compensated on winning trades, in trading it is the quality that matters not the quantity, so it does not really matter if I have 5 trades a week as long that I come out having more profits than loses, if the results are consistent in the next 3 months then it is good to go in live account.....Ignored
Disliked{quote} Your money If it were me I would back test it using a computer on as much 4 hour historical data as I could lay my hands on. Especially as your trade frequency is likely to be low during your "trial" period. FYI you can find a good source of historical tick data here https://www.dukascopy.com/swiss/engl...ch/historical/Ignored
DislikedMost traders fail because of no discipline! Nope - they lose because the game is rigged. The sooner you learn that, the sooner you'll stop wasting your money on forex.Ignored
DislikedWhether you agree or not, but to me a trader cannot succeed in this business if he cannot implement discipline in his trading all the time, market is so brutal that it can ripped your account apart if you ignore discipline for just one time, I know for a fact that being discipline all the time in trading is very hard to achieve considering the fact that market is volatile and easily affect traders psychological stability that can prompt most traders to divert or do discretionary trading once in a while that most of the time can damage their account....Ignored
Disliked{quote} I back tested it 1 year of data and it is showing good results but I cannot go further beyond 1 year because as we all know past results never guarantee that it will be repeated in the future, second back testing future data never simulate real live trading as compare to forward testing, where you can implement your strategy in live trading condition, this system is around 80% mechanical and 20% discretionary, as long that I will not allow emotions to interfere in my execution then perhaps it will yield good results, I will continue this...Ignored
Disliked{quote} I see from your Trade Explorer that your account age is 62 days. Are those trading days or calendar days? Either way, congratulations. My personal goal is to have similar results to your Trade Explorer for 60 consecutive increasing equity days before trading with real money. Are you currently live or do you have a different benchmark before going live?Ignored
DislikedMost traders fail because of no discipline! Nope - they lose because the game is rigged. The sooner you learn that, the sooner you'll stop wasting your money on forex.Ignored
Disliked{quote} It is not rigged it is just really really really difficult. I make my entire living from trading Forex with my own money.Ignored
Disliked{quote} Traders make trading difficult. Most are their own worst enemy.Ignored
Disliked{quote} Well, the biggest enemy that traders has to face is himself, it is maybe due to the fact that market is very unpredictable at times that one's psychology is really finding it hard adjusting to the market that in the process he makes a lot of trading mistakes that transform into big loses, so it is more of a psychological issue in the part of the trader how he reacts and adjust to certain situations of the market to keep his trading in the right perspective. We humans normally looks for some comfort zone...Ignored
Disliked{quote} It is a failure to execute properly. Failing to do what needs to be done. Either you do or you don't.Ignored
DislikedIt is critical to develop a well thought out and organized trading plan. It is then important to have the discipline needed to follow it Trading should bring fulfillment of your business and personal goals. - Andy JordanIgnored
DislikedAnd I think it doesn't hurt because we are used to loosing.It becomes the norm in our lives, Trading will destroy your self-esteem I promise you. 5year down the road your self-esteem is so low. I think we need the mentality we had at the beginning of trading, that time loosing 5$ used to hurt so much. Now you blow an account and you are like next time I will get it right. Fuck!!! You have already build a habit of loosing.The next account will finish like the previous one. It gotta hurt and hurt bad every time you lose a trade.Ignored
Disliked{quote} Trading is designed to fool most people. Price action is designed to fool most people. Trading is designed to put most traders down so you lose your money, lose your confidence and lose your nerve. But trading can compound your money to no end.Ignored