What would you do differently today for better trading results?

Here’s a video for thoughtful reflection. Let’s know what you learn from it that could enhance your trading.

Trade safe and prosper.

Very good! Is that an improvement to your trading strategy?

Trade safe an prosper.

I definitely consider my avoidance of trading news to be an improvement of my strategy, yes. I only trade news when I am very certain of the outcome, and that doesn’t happen often.

Learning is the key to become successful and not the book knowledge, we need to learn through Demo and later through small investments, it could change our trades.

Do you think Forex trading is difficult? Why?

I have always thought Forex trading was difficult until very much recently. Forex trading is very easy; what is difficult is succeeding in Forex trading. And here’s why:

It takes a load of hard work and mental effort to plan and prepare for consistent profitability; and much more mental and emotional effort to wait for the right time, price and location. Only very few traders can do this.

Trade safe and prosper.

Trading is an intellectual exercise to me. I don’t really regard is as easy or difficult. It requires my focus and my attention, as well as for me to be calm and disciplined.

Focus and attention, being calm and disciplined! Important concepts to employ in the trading business. Nevertheless, they are not easy to apply. Any body thinks differently? How important is staying focused (not being distracted by noises and other ‘gurus’ opinions, for example), together with being calm, patient and disciplined, central to consistent trading success?

I think it takes time to learn how to be disciplined. It does require an effort, but it’s hardly impossible to learn.

We all need to improve on our trading discipline and work at long-term, consistent trading success. Any trader who remains undisciplined leaves themselves open to failure.

Trade safe and prosper.

What approaches do you use to improve your discipline?

Improve on my market analysis, identify levels/zones to trade from, develop key rules for trade entry/setup and wait for the market to come to my levels/zones.

Trade safe and prosper.

What are you doing to improve and get better at market analysis? Share it with fellow forum members.

Trade safe and prosper.

Demo accounts have their place in trading success. For success in live accounts, demo accounts should be used for developing and mastering one or two functional trading systems/strategies and learning solid risk and capital management. What have you being doing to master one or two trading systems/strategies rather than system-jumping?

The only thing one can do is test it over and over again until they get used to using it to trade.

Imho, we all have to be mentally, emotionally and physically vital to trade well. Do you agree with this? Do you have any experience to share on this?

Trade safe and prosper.

• I think emotional stability is essential for long-term trading success.

• Mental stability is less essential in my opinion.

I’m thinking of several “evil geniuses” (not personal acquaintances), who are brilliant in their careers, while being certifiably mentally ill.

On a humorous note, in the modern BBC tv adaptation of the Sherlock Holmes saga, Holmes (played by Benedict Cumberbatch) tells Watson, “I’m not a psychopath. I’m a high-functioning sociopath.” I think there are high-functioning traders, with serious mental problems. Maybe even a couple here on this forum.

• And I think that physical vitality is least important.

I personally know traders who suffer from serious physical disabilities, but are able to bring mental focus and emotional stability to their trading, and as a result they are able to trade successfully.

In the world of theoretical physics, Stephen Hawking comes to mind. Despite severe physical disability, he has distinguished himself as one of the great physicists of our time.

.

A couple of interesting articles:

The Association Between Major Mental Disorders and Geniuses… Psychiatric Times 2014

The Association Between Major Mental Disorders and Geniuses | Psychiatric Times

Does Mental Illness Enhance Creativity…BBC Future 2016

BBC - Future - Does mental illness enhance creativity?

Thanks Clint. However, I disagree with your viewpoint. In each case, the catch-word is ‘vitality’ not ‘ability’. At any rate, what experience of yours do you want to share in regard to trading Forex successfully? In this context, will you trade better for example, when you are physically vital (healthy) than when you are not?

Trade safe and prosper.

I, personally, think that Forex trading is a purely mental exercise. As long as one can think clearly and analyze the market then they can trade.

Do you consider predetermined turning zones/areas from which to enter trade? Which time frame do you use to determine such zones?

Trade safe and prosper.