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.
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 thereās always gonna be another trade.
ā¦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.
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
he said that 9 years ago and hasnāt been online here for over 2 years, so he may not reply to you(?)
my guess is that he meant more or less that, and was perhaps also implying that people will do better when they start looking at actual, price-demonstrated support and resistance, and stop trying to use indicators as a substitute for them
i may be wrong, but that seems to me to fit what he said - and iāve certainly heard loads of long-term-successful career traders saying it