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10 Rules for Traders

  • #41
  • Nov 27, 2016 2:51am Nov 27, 2016 2:51am
Quoting KoiFish
of course to be profitable you only potentially require one of these ingredients.
Wrong ... You have no way to say that a 99% winrate is profitable or not without the RR.

You can be a loser with 99% winrate ... and also you can be profitable with 1% winrate.
MT4/MT5 EAs/Indicators/Alerts coder
  • #42
  • Edited 4:22pm Nov 27, 2016 2:53am | Edited 4:22pm
4) many successful traders started out taking on too much risk, successfully, and made a name for themselves. Then either someone pointed out to them or they realized they were taking on to much risk so they now trade much more conservatively (or have the means to arbitrage).
  • #43
  • Nov 27, 2016 2:54am Nov 27, 2016 2:54am
Quoting FerruFx
{quote} Wrong ... You have no way to say that a 99% winrate is profitable or not without the RR. You can be a loser with 99% winrate ... and also you can be profitable with 1% winrate.
please take note of the key word "potentially".
  • #44
  • Nov 27, 2016 2:57am Nov 27, 2016 2:57am
Quoting KoiFish
{quote} please take note of the key word "potentially".
Yes well noted ... but you can't dissociate the 2 when talking about profitability.
MT4/MT5 EAs/Indicators/Alerts coder
  • #45
  • Nov 27, 2016 3:14am Nov 27, 2016 3:14am
Quoting KoiFish
what exactly led you to believe I was disassociation win rate and risk reward ratios in regards to profitability?
You wrote : "to be profitable you only potentially require one of these ingredients" ... "potentially" or not, WN and RR are both needed to define profitability. Only one and you are missing a part of the formula.
MT4/MT5 EAs/Indicators/Alerts coder
  • #46
  • Nov 27, 2016 3:41am Nov 27, 2016 3:41am
Quoting KoiFish
{quote} sorry, if you want to chop my sentence in half and pretend it's a quote then that is just sad. The word potential is in that sentence because it's reliant on the other half of the equation. #obviouse
What is the other half ? You said you have only 2 ingredients for a holy grail : WN and RR ... Hence my answer when you stated you can only have 1 out of the 2 to be profitable.

I may have misunderstood something ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #47
  • Nov 27, 2016 3:52am Nov 27, 2016 3:52am
Quoting KoiFish
{quote} yeah, I stated "you can only have 1 out of 2 to be profitable." Exactly where did I state that? that's right, you're just making shit up.
Are you serious ???

You wrote : "of course to be profitable you only potentially require one of these ingredients".
MT4/MT5 EAs/Indicators/Alerts coder
  • #48
  • Nov 27, 2016 4:09am Nov 27, 2016 4:09am
Quoting KoiFish
have you ever had a disagreement with someone but feel like you'd be better off arguing with a cactus? this is stupid. I just remembered why I stopped frequenting forex factory. good luck, and God bless.
I thought your posts were better than the "10 rules for traders" which the OP of this thread originally posted which were terrible.
So I'm sorry to see you go.
  • #49
  • Nov 27, 2016 4:14am Nov 27, 2016 4:14am
Maybe FerruFx just doesn't like fish so that's just tough cookies for you.
  • #50
  • Nov 27, 2016 4:25am Nov 27, 2016 4:25am
Quoting KoiFish
{quote} sorry, if you want to chop my sentence in half and pretend it's a quote then that is just sad. The word potential is in that sentence because it's reliant on the other half of the equation. #obviouse
Anyway, you explained what you meant already with this reply, so let's just move on. I actually want to hear your other rules. But just make sure you explain everything properly this time or else I'll pick on you and make you quit FF again.
  • #51
  • Edited 4:23pm Nov 27, 2016 4:44am | Edited 4:23pm
Quoting BubaYaga
{quote} Anyway, you explained what you meant already with this reply, so let's just move on. I actually want to hear your other rules. But just make sure you explain everything properly this time or else I'll pick on you and make you quit FF again.
5) Traders don't use robots.
I'm not saying choosing an EA isn't a profitable skill, just as I'm not saying choosing a fund manager of ETF to put capital in isn't a profitable talent. Knowing how to code is a talent, especially if you know what to code.
But that doesn't make you a trader. You need to have hours, days weeks, months, years, experience. Watching your trades turn to loss, feeling the stress and adrenaline, day in, day out.
If you set your EA and walk away you don't learn anything.

Do you want to be a trader? or do you want to invest in a robot to take away the emotional and psychological burden from you?
There is no right or wrong answer. It's up to you.

But these are the 10 rules for traders..
  • #52
  • Nov 27, 2016 5:27am Nov 27, 2016 5:27am
Quoting KoiFish
but there is always the exception and in you case I thing you have a lower IQ. because you're an idiot.
Insulting people is the best way to show your real personality.
MT4/MT5 EAs/Indicators/Alerts coder
  • #53
  • Apr 30, 2017 5:48pm Apr 30, 2017 5:48pm
The missing rule is . if all yawl, articulate ten rules for daily trading of one specific style . We all profit daily
  • #54
  • May 3, 2017 5:19am May 3, 2017 5:19am
Lol 1 No.

because without using stop loss that’s not possible at all to lead a comfortable trading life, devoid f using SL your condition will be as like a ship in an ocean without a rudder.
  • #55
  • May 3, 2017 5:36am May 3, 2017 5:36am
Quoting RFMagus1
10 Rules for Traders 1. Never use stops. Stops are for amatuers. 2. Never use "How to Trade" trading materials 3. Never buy and use a trading robot 4. Never use chart indicators....price is your best indicator 5. Never worry about risk-to-reward ratios. You can't precisely predict how far a currency pair will move 6. Never use someone elses trading system. Design you own to fit your trading style 7. Never log onto trading forums to get "advice" from other traders. No one has the Holy Grail 8. Never close a trade that has gone negative. Charts prove...
FINALLY, someone gets it!

Even better to get doubted by jokers with no-track-record and/or who never disproved quantitatively what they contend is false.

Besides #8, which is not accurately expressed, this is a home run.

Thank you for that.
  • #56
  • May 3, 2017 7:14am May 3, 2017 7:14am
Quoting MitchellMcC
Lol 1 No. because without using stop loss that’s not possible at all to lead a comfortable trading life, devoid f using SL your condition will be as like a ship in an ocean without a rudder.
I don't feel comfortable trading without using stop loss either. I think some people underestimate how useful SL can be when used correctly.
  • #57
  • May 4, 2017 2:43pm May 4, 2017 2:43pm
Quoting RFMagus1
10 Rules for Traders 1. Never use stops. Stops are for amatuers. 2. Never use "How to Trade" trading materials 3. Never buy and use a trading robot 4. Never use chart indicators....price is your best indicator 5. Never worry about risk-to-reward ratios. You can't precisely predict how far a currency pair will move 6. Never use someone elses trading system. Design you own to fit your trading style 7. Never log onto trading forums to get "advice" from other traders. No one has the Holy Grail 8. Never close a trade that has gone negative. Charts prove...

I think We need SL , even that when we can have problem with internet connection.
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #58
  • Jul 12, 2017 5:01pm Jul 12, 2017 5:01pm
There is no ending of this market for that reason for getting security and controlling loss we always have to depend on Stop loss. So many trades who don’t like to use Sl , I think they are staying in a ship which moving in a large ocean without rudder.
  • #59
  • Jul 13, 2017 6:59pm Jul 13, 2017 6:59pm
Quoting BenDunk
There is no ending of this market for that reason for getting security and controlling loss we always have to depend on Stop loss. So many trades who dont like to use Sl , I think they are staying in a ship which moving in a large ocean without rudder.
its common topic about importance of SL there is anyone who has some exceptional idea when it is more better to use SL . please share more about if you have
  • #60
  • Aug 10, 2017 3:44am Aug 10, 2017 3:44am
I agree that stops are important. But remember what happened when the SNB removed the floor?

So they have their limitations.
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