What improved your trading so much that you wish you had done it sooner?

Trading Discussion
27
  1. I wish I had used a demo account and never tried learning on a live account.
  2. I wish I had understood risk management, i.e., determine the risk first after which the reward must always be equal to or more than the risk.
  3. I wish I had understood what is a higher high and higher low and vice versa and when to get into a pullback in order to eat all the pips during the push phase.
  4. I wish I had learnt to accept that only one or two good trades per day is more than enough.
2 Likes
28

Simplicity Keeping it simple by not using any other indicators except for Bollinger Bands and Rays with alerts from Trading view. Also my mentor - Victoria Duke (Tori Trades) is right on the money.

29

This can really make a huge difference in decision-making and overall performance. How did you go about improving your emotional management skills?

30

Thanks for sharing these links!

31

I wish everything were that simple in trading. Do you have a strategy or indicators that help identify these lower buying opportunities?

32

Good for you! This one is a struggle for me.

33

Indeed a game-changer in trading!

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34

Those are some valuable lessons learned! This is a journey of continuous learning and adjustment.

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35

Nothing in particular, just checking the chart and the assets overall positions, but the RSI does help a lot with that, and at time I use the Ichimoku just to see the positioning of the chart and cloud.

36

Yea I think it’s crazy risking real money from the start.

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37

At first, I was very confused because there was too much information and too many resources about how to manage your emotions. I started with very simple ones and then visited a therapist. By combining all the information and knowledge I gathered, I found the method that suited me best: practicing. I began with very small steps; for example, when I was thirsty, I looked at the glass of water but did not drink. It was hard at first, but over time, I learned to be patient.

38

As a matter of fact, I created a post the other explaining my implementation of the “break and retest” of S/R zones into my strategy here: Break & Retest Strategy

Adding this as a key component to my strategy has really improved my trading.

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39

Initially I used to trade very frequently but soon I changed my frequent trading habit and now I try to take strategy-based decision.

40

It took me quite a while to understand the markets, but if I had implemented one or two of the multifarious observations on my journal I wouldn’t be at the stage I am now. Trading journal is so underrated but it is a sort of map to understanding the markets

41

Yeah at least you can see your progress over time, it is very important if you tweak your strategies and want to assess their impact. Without trading journal its hard to do since you have to record trades, calculate returns, drawdowns etc on your own

42

Thats interesting! I’ll check out your post to learn more! Thanks for sharing.

43

I agree. It’s helpful to track your progress and understand your decisions better. I wish I had started one sooner too!

44

Big one for me too. Start high and then work your way down once you found something you can trade into.

45

Algorithmic approach improved my trading a lot especially making trading decisions automated, based on certain rules. It made my trading less emotional and more efficient since opening and closing trades takes less time also it reduces reaction time, in some situations its quite important.

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46

Good for you! I haven’t tried using an algorithmic approach yet, but it’s nice to hear it made a big difference for you.