How is everyones trading coming along. Im sure if you are sticking to price action you are doing well. Remember most traders fail because they do not create an identity as a trader. They dibble and dabble with different methods but never stick to one. If the LAKERS tried to play with out their triangle offense they would be doomed. The triangle offense has be tested and proven and has one many championships. They stick with the best plan and believe in the system that will get them to their ultimate GOAL. This is the same with your trading. DO YOU HAVE AN IDENTITY?
I agree, but most people who find themselves drawn to these forums are usually raw, in most cases naive, & unaware of what’s required to form & construct an identity. They’re too easily influenced & attracted to the flashy & glitzy thread titles & quickly get caught up in all the hype & ridiculous claims of easy profits based on half baked idea’s usually based around some indicator or another.
In order to build & establish an identity that matches your trading personality you have to, at some point, include a process of trial & error in order to help clarify & focus in determining what type of trading style you’re comfortable operating. Trouble is that requires guidance from trusted sources, incredibly strong discipline to maintain focus & regular feedback to identify strengths, weaknesses & gauge progress.
That type of assistance is rarely found in these places. Which is why the journey for the majority of new & inexperienced traders is often overly long, incredibly frustrating & in most cases an impossible hurdle to overcome.
Agreed. But the dynamic changes when you’re having the time of life ^^. To you new traders:Relax, have fun, stick with one system and listen to the system in order to learn more about it and yourself in the process and you’ll eventually get there. It takes a bit of time to get the hang of things.
shall I say each one of us should have strategy right?
maybe they’re using different methods to try which method is best suited for them, although we know in that time, almost all will fail.
The problem is often they dont have an objective way of evaluating methods. New traders wouldnt know a good system even if they had one, and worse still, they cant recognise a bad system either.
They focus on short term account balance, which usually isnt much more than varience.
A degree of backtesting and a month on a demo account, no?
for me,I have created my alter ego: a super trader called Haracel that only trade one pair, one direction, one lot and one target each month…
Harachel character only appear when I’m opening my trading platform, after I’m closed my platform I’m back to my normal life…
and that help me much…
thanks. this thread has been useful to a newbie like me, what I am finding lately is I lack patience, I tend to focus on catching a wave, sometimes big, sometimes as small as 10 pips, then i exit the trade. I come back 2 hours later and see the price has increased by 30 pips! and then I would slap myself silly lol.
I don’t get your question.