My trading dramatically improved when I

Beginner Questions
#54

My trading dramatically improved when I

  1. Start trading with the smallest lot size and only increase lot size when my capital account reach a new watermark level.

  2. When trades are sluggish and not going the way you anticipate, close the position.

  3. When my daily living cash flow have improved considerably.

1 Like
#55

Although this is a neckro thread of 3 years, it is a really interesting topic if the ones who post are successful in this endeavour. It would an interesting theme for a book.

#56

Actually, I’m still struggling… Each time I say it’s the good strategy, it fails, so I keep jumping from one stra to another but still no way to reach success. Any advice, a good advice not a generic one?

#57

I was not able to recognize which trading strategy was appropriate for me and which was not. Now I am using demo trading account before start using any strategy. And I am now able to correct the mistakes of trading with the help of demo trades.

#58

Hahahhhaaaa it does happen to me sometimes

#59

This thread is GOLD…thanks to all of you!

My trading dramatically improved since I have started trading what I see, and stopped trading what I think it should happen…

Also since I have realized I can’t do the above 100% of the time right as I am just an imperfect human being and have therefore started respecting my SL and cut them short when appropriated.

#60

That’s the point; we all should focus on your trading process rather than the profit I mean return.

#61

The key point is “the value of only taking the best setups and educating yourself to spot them without distraction on your charts and it just clicked”.

#62

When i started focusing on the longer time frames. This slowed down my trading, i started making better decisions, looking at the bigger picture, and i can confidently trade a bigger lot size, since my setups are based on quality not quantity.

At this point in my trading career, the positives of long term trading outperform anything that day trading has to offer by a huge margin. Maybe this will change in the future.

#63

Learning to take the right trades.
Learning to cut my losses.
I was impatient and always jumping into trades for fear of missing out. Bought a forex simulator where I could speed up the time, practiced on historical data, and realised there’s always gonna be another trade.

1 Like
#64

When I started backtesting.

2 Likes
#65

…when I stopped trying to find the very best trend to follow and started following them all, and when I started pyramiding the trend-following positions I was in.

#66

Stuck to my trading plan and only took trades with 2 or more confluence.

#67
  1. Know the Markets.
  2. Make a Plan and Stick to It.
  3. Practice.
  4. Forecast the “Weather Conditions” of the Market.
  5. Know Your Limits.
#68

yes me too ,i lost quite a lot of money before understanding the concept of support/resistance .How relevant they are, compared to things which are practically worthless knowledge

#69

I quit letting fear drive trading decisions(still fight it).
Figuring out the strategy was the easy part. It’s the emotions for me.

#70

Not investing more than I can afford as the emotions that go with this make trading a hard game

#71

…stopped follow my hunches and stop using my mental powers to tell the price where to go.

#72

Learning from mistakes is the best way of improving thyself. New traders ignore their mistakes the most.

#73

Yes brother, strategy development should be the target of all traders because successful trading depends on successful strategy.