Your Trading Secret?
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  1. #1
    Peter Brandley is offline Junior Member
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    Arrow Your Trading Secret?

    Hello guys,

    My Name is Peter and am new in the market. Please share your trading secrets with me some that I can become a professional trader like yours.

    Please give me some advice what you trade exactly e.g gold, currencies or indices....What should I take into consideration when I start trading?

    Thanks

  2. #2
    DanielFxTradingCircle's Avatar
    DanielFxTradingCircle is offline Junior Member
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    Ha i just kinda said my secret on another thread so here it is.

    I've said it 1000 times and it's routed at the core of my philosophies.

    Your philosophies are so powerful that everything you do evolves from them.

    Your philosophies and beliefs turn into thoughts, your thoughts turn into actions, your actions turn into outcomes.

    How could one be patient? If they do not have in there core philosophy that im a paitent trader to the point that i will only trade when my method appears.

    So you want to know the secret to trading?

    You don't know me from a bar of soap and I'm writing on babypips telling you that i know the secret to trading lolol. I guess people wouldn't rely on me to tell them that it's day or night.

    Here it is: Everything you do won't count for nothing if your intentions are wrong!

    If you don't get your intentions right everything you do won't count for nothing.

    -Why are you trading?
    -Are you trying to make up for a loss?
    -Are you to eager to make money that you take short cuts?
    -Are you over trading since you need to be in a trade at all times?
    -Are you trying not to lose money?
    -Are you trading based of your strategy?
    -Are you trading based on your own independent analysis?

    There is only one intention and one intention only. You should only trade because of the pure reason that a great, understandable, seemingly, comprehensible trade has presented itself. There is no other reason to trade. EVER!

    You do that from now on you will become a successful trader. Ain't nothing to it but to do it.
    Last edited by DanielFxTradingCircle; 04-26-2012 at 05:58 PM.
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  3. #3
    MoneyNVRSleeps is offline FX-Men Honorary Member
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    DO NOT TRADE BY CONSENSUS

    Keep it simple, FOLLOW YOUR INSTINCTS,

    Great profits to you,
    bobmaninc likes this.

  4. #4
    mrchilled's Avatar
    mrchilled is offline Master Contributor and Member
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    Quote Originally Posted by Peter Brandley View Post
    Hello guys,

    My Name is Peter and am new in the market. Please share your trading secrets with me some that I can become a professional trader like yours.

    Please give me some advice what you trade exactly e.g gold, currencies or indices....What should I take into consideration when I start trading?

    Thanks
    Peter - do you honestly think successful traders are going to give away their secret to you? Come on, stop being naive and put effort into learning about forex and trying to be successful yourself, otherwise you will fail!
    Good luck

  5. #5
    MoneyNVRSleeps is offline FX-Men Honorary Member
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    Quote Originally Posted by mrchilled View Post
    Peter - do you honestly think successful traders are going to give away their secret to you? Come on, stop being naive and put effort into learning about forex and trying to be successful yourself, otherwise you will fail!
    Good luck
    Hey, he tried, sometimes you never know..

    When I used to Handicap Horses, In my beginning days, I once asked an Old timer what his secret was, and he told me, changing the way I looked at races from that very day, And the answer was less then 5 words..

  6. #6
    Dominator4fx is offline Banned Senior Member
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    Quote Originally Posted by MoneyNVRSleeps View Post
    Hey, he tried, sometimes you never know..

    When I used to Handicap Horses, In my beginning days, I once asked an Old timer what his secret was, and he told me, changing the way I looked at races from that very day, And the answer was less then 5 words..
    No one who is a successful will tell their secrets to anyone. The basis is that the success is both difficult to achieve as well as maintain.

  7. #7
    InnerCircleTrader Guest
    Quote Originally Posted by MoneyNVRSleeps

    Hey, he tried, sometimes you never know..

    When I used to Handicap Horses, In my beginning days, I once asked an Old timer what his secret was, and he told me, changing the way I looked at races from that very day, And the answer was less then 5 words..
    Don't bet on horses?

  8. #8
    KingKaivar's Avatar
    KingKaivar is offline Senior Member
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    Find a system that works for you and your temperament. Start trading with a mechanical system (i.e. follow an ironclad set of rules).
    Control your own destiny or someone else will. - Jack Welch

  9. #9
    peterma is offline FX-Men Honorary Member
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    Quote Originally Posted by mrchilled View Post
    Peter - do you honestly think successful traders are going to give away their secret to you? Come on, stop being naive and put effort into learning about forex and trying to be successful yourself, otherwise you will fail!
    Good luck
    Lots of people will try to sell you their 'secrets' - as a rule when I see that word I run.
    I do know of one succesful trader who does give away his knowledge and experience for free - you can find him on this site under the name of ICT.

  10. #10
    MeiHua's Avatar
    MeiHua is offline FX-Men Honorary Member
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    Sure I will bite. What do i trade? I trade mostly index futures and currency futures intraday. I use spot Forex for swing trades on crosses I cant get in futures contracts. The thing is it doesn't really matter what you trade, a market is a market and trading is trading. Once you know how to trade and extract value from the markets you can do it in any market. What is my secret? Turning 1 trade into 5 trading experiences. So i take 1 live trade but i "experience" it and learn from it 5 times. What do I mean by that? I mean I journal my trades, I do a end of day review where i go over my trades in the charts and see what happened, I record my trading and narrate it while i am actually live trading expressing the thoughts i am having both technical and psychological, then i review it at the end of the day, I write a daily debrief and have a score card that rates my trades on a scale of 1-5 and of course the last but not least is the LIVE TRADE itself. Now i repeat this again on the weekends when i write up my end of week analysis and review my videos from my best and worst days of the week.

    This comes down to deliberate and concentrated practice and data driven analysis and improvement of your system. Although trading is one of those things where more you work isn't necessarily going to improve your bottom line, if you take these steps to have deliberate practice, understand where you went right and attempt to repeat that over time consistently. Also your identifying areas you can improve and avoid mistakes faster, making your learning curve more efficient. i might make 1 mistake during the day, it cost me 1 trade loser for example. Now i have seen that situation over and over I know its cost I know what it looked like and now tomorrow I can avoid it, instead of having to have it occur several times before i even realize its something i avoid. Now another trader might need 3-5 times to even identify there is something wrong much less correct it, I can do that in half the time. Of course there is no guarantees and of course ever moment in trading is unique but it gets me to my 10k hour threshold faster.

    Bottom line: Try to learn as much as you can from each trade, keep good records and use that collected data to improve your self and your system by either A) avoiding situations where you are less profitable or B) getting into more situations where you are more profitable.

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